Macau giveth and Macau taketh away for Wynn Resorts. Long the cash cow for the company over the years, the Chinese enclave’s contribution to the company’s bottom line continued its downward trend leading to a rare first-quarter loss, the company announced Tuesday.
Casinos & Gaming
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A member of a prominent Northern Nevada casino industry family has been appointed to the Nevada Gaming Commission. Michonne Ascuaga, a former CEO of John Ascuaga’s Nugget in Sparks, was named to the position by Gov. Brian Sandoval Monday, replacing Joe Brown, who on Thursday announced his resignation from the board for personal reasons.
Key employees at swanky nightclubs in casino resorts in Nevada would be required to register with state gambling regulators under a bill designed to prevent unsavory workers from club-hopping and taking trouble with them.
Two casino companies with Nevada ties had improved first-quarter results, including Las Vegas-based Pinnacle Entertainment which reported record net revenue.
Elaine Wynn’s uphill bid to retain a seat on Wynn Resorts Ltd.’s board of directors failed, but the longtime philanthropist and ex-wife of Chairman and CEO Steve Wynn says her efforts served their purpose.
The Nevada Gaming Commission has removed renowned slot-machine cheat Eugene Bulgarino from the state’s List of Excluded Persons, the so-called “Black Book.”
NEW YORK — New Jersey’s capital city, Trenton, has canceled a bond refunding sale because a credit downgrade on Monday left it unable to save enough money for the deal to meet legal standards, Trenton’s finance director told Reuters.
Las Vegas attorney Joe Brown, a member of the Nevada Gaming Commission since 2008, resigned from the five-member regulatory board on Thursday for personal reasons.
The Nevada Gaming Commission has approved the sale of the 300-room Gold Strike Hotel and Gambling Hall in Jean to the Herbst family in a deal the new owners are calling more of a real-estate play than a gaming opportunity.
Creditors of the bankrupt operating unit of Caesars Entertainment Corp. said they wanted to stop the casino company from extending the period when it has exclusive control of its Chapter 11 reorganization so other plans could be proposed.
Since the Circus Circus Adventuredome’s El Loco roller coaster ride opened, its cars have traveled more than 61,000 miles — about 2½ times around the world. But MGM Resorts International is getting even more mileage from the popularity of the ride that debuted a year ago at the nation’s largest indoor theme park.
Las Vegas Sands Corp. revenues dropped below forecast nearly 25 percent in the first quarter of 2015. The company announced Wednesday its revenue for the quarter, which ended March 31, fell 24.9 percent to $3.01 billion compared with $4.01 billion in the first quarter of 2014, primarily due to softness in Macau.
The high-profile boardroom battle between Wynn Resorts’ board of directors and dissident board member Elaine Wynn will come to an end Friday morning, but not before both sides fired off more volleys in advance of the company’s annual shareholders meeting.
A Las Vegas judge began hearing testimony Monday to help her determine whether she has jurisdiction over Sands China Ltd. in a breach of contract case filed by Steven Jacobs, the former president of Sands Macau.
Steve Wynn is looking to weaken the state’s anti-SLAPP law. And if you know anything about Steve Wynn’s record of success at the Legislature, you know he usually gets his way.
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