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Why Las Vegas’ CityCenter resort and gaming complex isn’t a laughing matter
UncategorizedCityCenter never had it easy. MGM Resorts International announced plans to build the $4 billion development in 2004 during the height of Las Vegas’ boom. By the time the project wrapped up four years later, its construction budget had ballooned to almost $10 billion and the city was sinking into a historic recession that almost [...]
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Las Vegas Sands loses its auditor in the middle of corruption probe
DestinationsApril 27 (Bloomberg) — Pricewaterhouse Coopers LLP resigned as auditor of Las Vegas Sands Corp., the casino company that disclosed last month it probably violated the Foreign Corrupt Practices Act. Pricewaterhouse told the Las Vegas-based casino company on April 23 it won’t seek re-election, according to a regulatory filing yesterday. The company said there had [...]
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Wynn Resorts profit on the rise thanks to Vegas bump, but Macau growth slows
DestinationsWynn Resorts Ltd., the casino company run by billionaire Steve Wynn, reported first-quarter profit that beat analysts’ estimates, helped by gains in Las Vegas. Excluding some items, profit was $2.03 a share, beating the $1.55 average of 24 analysts’ estimates, according to data compiled by Bloomberg. Revenue rose 5 percent to $1.38 billion, matching forecasts of [...]
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Vegas taxis overcharged passengers by at least $15M last year
TransportClark County taxicab drivers taking tourists on the scenic route to and from the airport overcharged their passengers an estimated $14.8 million last year, according to a legislative audit released Monday. The report said the Nevada Taxicab Authority needs to do more to prevent these roundabout rides, which are meant to run up the meter [...]
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Las Vegas casino to create a public park on the Strip
DestinationsLas Vegas is trying to beat its reputation as a shut-in. MGM Resorts International announced Thursday that it will sink $100 million into building a park and public promenade outside of its New York-New York and Monte Carlo casinos. The project runs counter to casinos’ long-held strategy of trying to keep people inside, losing track [...]
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Las Vegas Sands casino says “whoops” for violating federal anti-corruption act
DestinationsLas Vegas Sands Corp said it “likely” violated the federal Foreign Corrupt Practices Act, which outlaws the bribery of foreign officials, according to a Securities and Exchange Commission filing on Friday. The filing marks the first disclosure by the casino operator, controlled by founder and billionaire Republican donor Sheldon Adelson, that is was under investigation. [...]
