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Jul 26, 2012

Las Vegas Sands earnings slump, miss forecasts

LOS ANGELES, July 25 (Reuters) – Las Vegas Sands Corp
earnings fell, missing forecasts, as its “hold,” or
money won from gamblers, fell at its casinos in Las Vegas, Macau
and Singapore, and legal fees rose, sending its shares down 5.8
percent in after-hours trading.

The company, best known in the U.S. for its Italian-themed
Venetian resort in Las Vegas, reported second-quarter net income
of $240.6 million, or 29 cents a share, compared to $367.6
million or 45 cents a share, in the year-ago quarter.

Jun 29, 2012

CBS, ‘Happy Days’ actors in settlement talks-sources

LOS ANGELES, June 29 (Reuters) – CBS Corp is in
settlement talks with cast members of the popular 1970′s TV show
“Happy Days” to end a legal dispute over revenues from the
sitcom’s merchandise, an agreement that could have broad
ramifications for how TV actors are compensated.

Representatives for the actors, who include Anson Williams,
Marion Ross, Don Most, Erin Moran and the widow of Tom Bosley,
began negotiations with CBS after a California judge ruled
earlier this month that their case could go forward, according
to two people with knowledge of the talks who asked to remain
anonymous.

Jun 28, 2012

Exclusive: China to launch Netflix-like movie service

LOS ANGELES (Reuters) – The government-run China Movie Channel will launch an online service like Netflix Inc in China this year, promising a big new revenue source for Hollywood from streaming its films and TV shows to subscribers in the world’s most populous nation.

The new service is set to open in the fourth quarter, according to its backers, who say they have signed their first content agreement with a major Hollywood studio.

Jun 28, 2012

China to launch Netflix-like movie service

LOS ANGELES, June 28 (Reuters) – The government-run China
Movie Channel will launch an online service like Netflix
in China this year, promising a big new revenue source
for Hollywood from streaming its films and TV shows to
subscribers in the world’s most populous nation.

The new service is set to open in the fourth quarter,
according to its backers, who say they have signed their first
content agreement with a major Hollywood studio.

Jun 22, 2012

Wynn Resorts wins venue battle in Okada lawsuit

LOS ANGELES, June 21 (Reuters) – In the latest skirmish
between Las Vegas mogul Steve Wynn and Wynn Resorts’ one-time
largest shareholder, a federal judge ordered the legal battle
with Japanese billionaire Kazuo Okada to be moved back to the
Nevada state court.

The decision sends the case back to the same court that
previously frustrated Okada’s attempts to access Wynn Resorts’
financial records. Okada, in his suit in January,
alleged that the casino company’s $135 million donation pledge
to the University of Macau Development Foundation was
“inappropriate.”

Jun 22, 2012

William Hill gets Nevada OK for sports book

LOS ANGELES (Reuters) – William Hill (WMH.L: Quote, Profile, Research), Britain’s largest bookmaker, said on Thursday it has won approval from Nevada regulators to become the first British betting service to run a sports book in the state.

The green light from the Nevada Gaming Commission allows the British firm to begin offering sports betting on mobile devices to bettors in Nevada, and positions the company to be among the first out the gate should legal restrictions on U.S. online gaming be lifted.

Jun 21, 2012

Top British bookie gets Nevada OK for sports book

LOS ANGELES, June 21 (Reuters) – William Hill,
Britain’s largest bookmaker, said on Thursday it has won
approval from Nevada regulators to become the first British
betting service to run a sports book in the state.

The green light from the Nevada Gaming Commission allows the
British firm to begin offering sports betting on mobile devices
to bettors in Nevada, and positions the company to be among the
first out the gate should legal restrictions on U.S. online
gaming be lifted.

Jun 15, 2012

Wynn says Okada motion recycles old claims

HONG KONG, June 15 (Reuters) – Wynn Resorts, ensnarled in a
lawsuit with its one-time largest shareholder, dismissed as old
“baseless allegations” a motion by Japanese pachinko tycoon
Kazuo Okada to stop the casino from forcibly buying his shares.

“Mr. Okada is recycling his previous baseless allegations in
the press, while continuing to interfere with the judicial
process by refusing to accept service of court documents,” the
casino said in a prepared statement. “The facts clearly justify
the carefully considered actions taken by the Wynn Board to
redeem an unsuitable shareholder in order to protect the company
and its shareholders.”

Jun 13, 2012

A Minute With: Singer Colbie Caillat and dad, Ken

LOS ANGELES, June 13 (Reuters) – In his book “Making
Rumours,” record producer Ken Caillat recounts with humor and
detail the tumultuous year of betrayal, drama and rock ‘n’ roll
excess behind recording Fleetwood Mac’s 1977 “Rumours” album,
which has sold over 40 million copies.

Caillat, who counts Billy Idol, The Beach Boys and Alice
Cooper among his many producing credits along with Fleetwood
Mac, has more recently been instrumental in the career of his
singer-songwriter daughter Colbie Caillat, who has sold over 6
million albums worldwide and scored a major hit with “Bubbly.”

May 30, 2012

Madoff victims trade on trustee’s gains and losses

May 30 (Reuters) – After Bernard Madoff’s fraud unraveled in
late 2008, Yale Fishman was courted by Wall Street traders
seeking to buy his claim to assets that could be recovered from
the mess. After three years of ignoring their calls, he finally
said yes.

Fishman, an estate planner in Woodmere, New York, and a
former Madoff investor, cut a deal with a trading firm to sell
part of his bankruptcy claim in the long-running case. He said
he sold his $1.1 million claim for $800,000, or about 73 cents
on the dollar, in late December.

    • 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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