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Mar 19, 2013

Judge denies Sands’ attempt to toss Macau case

LAS VEGAS/LOS ANGELES, March 19 (Reuters) – A judge in
Nevada on Tuesday ruled against Las Vegas Sands Corp’s
effort to throw out a case against it by a businessman who says
he is owed millions of dollars for helping the casino firm get
an operating license in Macau.

Tuesday’s ruling paved the way for jury selection to begin
next week in the trial of the long-running case, which will
bring Sands Chairman and CEO Sheldon Adelson to the witness
stand on April 4.

Mar 12, 2013

Sands CEO Adelson set to testify in Macau case

LOS ANGELES, March 12 (Reuters) – Las Vegas Sands Corp
Chairman and CEO Sheldon Adelson will make a rare public
appearance in a Nevada state court in early April as the lead
witness in a breach-of-contract case brought against the casino
operator by one-time consultant Richard Suen.

It will be Adelson’s second appearance in the long-running
case, in which Suen claims the gaming company did not pay him $5
million as promised for arranging meetings with key China
government officials that helped pave the way for Sands’ entry
to the gambling district of Macau.

Mar 9, 2013

Congress in a race with states to pass online gambling law

LOS ANGELES, March 8 (Reuters) – States racing to legalize
online gambling may soon be overtaken by the federal government,
as efforts to pass a national bill begin to come together.

Legislation in the House is likely to be introduced this
spring. Senate Majority Leader Harry Reid (D-Nevada), whose
long-advocated federal legislation never got introduced last
year, is working behind the scenes to form a coalition to
support the measure.

Mar 7, 2013

Europe’s 888 clears hurdle for offering online poker in Nevada

LOS ANGELES, March 6 (Reuters) – European online gaming
operator 888 Holdings Plc cleared a key hurdle in its
return to a reopening, regulated U.S. online poker market after
the Nevada Gaming Control Board voted to recommend approval of
its application for a state interactive gaming license at a
hearing scheduled for March 21.

The Nevada Gaming Control Board on Wednesday said it
recommended the approval of Gibraltar-based 888’s applications,
including one as a manufacturer of an interactive gaming system,
one as a distributor and another as an interactive gaming
service provider.

Mar 1, 2013

Hollywood targets “rogue” mobile apps in war on pirated content

LOS ANGELES, Feb 28 (Reuters) – Hollywood studios, which for
years have waged a war against online piracy, are now going
after so-called “rogue” mobile apps that use images from movies
and television shows without their permission.

Time Warner Inc Warner Bros Studio sent Google Inc
a “take down” notice late last week demanding that the
Internet company remove from its app store “Hobbit 3D Wallpaper
HD,” a mobile app that uses images of the Oscar-nominated film,
according to a spokesman for the studio.

Feb 21, 2013

Okada resigns from Wynn Resorts board

LOS ANGELES, Feb 21 (Reuters) – Dissident Wynn Resorts Ltd
shareholder Kazuo Okada resigned on Thursday from the
casino giant’s board, one day before a scheduled special
shareholder meeting to vote on his removal.

The Japanese billionaire submitted his resignation in a
letter, his lawyers said. His exit from the board is the latest
twist in a year-long legal battle between Wynn Chief Executive
Steve Wynn and his one-time partner and largest investor.

Feb 20, 2013

MGM Resorts’ quarterly loss widens, China growth slows

LOS ANGELES (Reuters) – Casino operator MGM Resorts International (MGM.N: Quote, Profile, Research, Stock Buzz) reported a wider fourth-quarter loss on impairment charges on Wednesday, and as growth in its Chinese unit slowed from red-hot levels of a year ago.

MGM Resorts, which operates the Mirage and Bellagio casino resorts, said revenue fell marginally to $2.29 billion. Analysts on average had expected $2.31 billion, according to Thomson Reuters I/B/E/S.

Feb 20, 2013

MGM Resorts says has suitors for Vegas’ CityCenter Crystals mall

By Sue Zeidler

(Reuters) – MGM Resorts International (MGM.N: Quote, Profile, Research, Stock Buzz) Chairman Jim Murren said he has been approached by potential buyers for the Crystals luxury mall in its $8.5 billion Las Vegas CityCenter joint venture complex.

“CityCenter is always looking for ways to improve the value for its shareholders … and I think the most attractive candidate down the road would be Crystals,” Murren told analysts on a conference call.

Feb 20, 2013

MGM Resorts’ Chinese unit sets $500 mln dividend

LOS ANGELES, Feb 20 (Reuters) – Casino operator MGM Resorts
International’s quarterly sales missed Wall Street
expectations as revenue growth slowed in China, but its shares
rose as much as 3 percent after its Chinese unit set a special
dividend of $500 million.

On a conference call with analysts, MGM Chief Executive Jim
Murren said he expects the unit to pay additional distributions.

Feb 15, 2013

Wynn shareholders can vote on whether to remove Okada -Judge

Feb 15 Las Vegas (Reuters) – A federal judge allowed Wynn
Resorts to hold a special shareholder meeting on Feb 22
to remove dissident shareholder Kuzuo Okada from its board, the
latest twist in a year-long battle between Wynn chief executive
Steve Wynn and his one-time partner and largest investor.

Federal Judge James Mahan rejected a bid by Okada to block
the meeting, ruling against the Japanese investor’s contention
that Wynn had given its shareholders a “grotesquely slanted
proxy riddled with material misrepresentations.”

    • About Susan

      "I cover the media sector, focusing mainly on Walt Disney Co and other big entertainment firms and the digital evolution that is currently reshaping that industry. Prior to this assignment, I covered the music industry, energy markets, commodity markets and corporate bonds. Before moving to Los Angeles in 1995, I held positions in the New York bureau and in Pittsburgh, PA."
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