Vegas Hotel

Las Vegas Sands Corp. Reports Record Third Quarter 2006 Results

2007-01-16T22:03:00.000-08:00

Las Vegas Sands Corp. Reports Record Third Quarter 2006 Results

Net revenue for the third quarter of 2006 increased 26.4% to $553.2 million compared to $437.6 million in the prior year's quarter. Adjusted net income (excluding loss on disposal of assets, pre-opening expense, and development expense) increased 32.1% for the third quarter of 2006, improving to $117.6 million, or adjusted earnings per diluted share of $0.33, versus adjusted net income (excluding pre-opening expense, development expense, loss on disposal of assets, and expense related to a litigation settlement) of $89.0 million, or adjusted earnings per diluted share of $0.25, in the third quarter of 2005. On a GAAP (Generally Accepted Accounting Principles) basis, net income in the third quarter of 2006 was $97.3 million, or $0.27 per diluted share, compared to $80.1 million, or $0.23 per diluted share, in the third quarter of 2005.

Sands banks on making Macau a shopping mecca

2006-12-19T23:21:00.000-08:00

Sands banks on making Macau a shopping mecca

AUSTRALIAN David Sylvester is well down the track towards his goal of turning Macau into the luxury shopping mecca of Asia. The former Westfield and Lend Lease executive has signed deals with more than 400 upmarket retailers who will lease over 80,000 square metres of shops in the $2.3 billion Venetian hotel/ casino and the nearby Four Seasons mall.

In total, Sylvester, who joined the Las Vegas Sands group in Hong Kong just over a year ago, has the job of signing up the equivalent of two giant Westfield shopping centres of retail space in some $8 billion of hotel and casino developments planned by the company for Macau.

And that's before he signs up another Westfield centre's worth of shops in the company's new $3 billion development in Singapore.

While Macau is pitching to become the casino capital of Asia, Sheldon Adelson's Las Vegas Sands group is also determined to use its Las Vegas experience to turn the city into the luxury shopping destination of the region in only a few years.

Wynn Resorts, Limited Reports Third Quarter Results

2006-12-11T19:02:00.000-08:00

Wynn Resorts, Limited Reports Third Quarter Results

LAS VEGAS--(BUSINESS WIRE)--Wynn Resorts, Limited (Nasdaq: WYNN) today reported financial results for the quarter ended September 30, 2006.

Net Revenues for the quarter were $318.1 million, 26.5% higher than in the third quarter of 2005. Results for this quarter include 25 days of operations of Wynn Macau, which opened on September 6, 2006. On a US GAAP (Generally Accepted Accounting Principles) basis, net income for the quarter was $715.7 million, or $6.43 per diluted share, compared to a loss of $9.2 million, or $0.09 per diluted share, in the third quarter of 2005. The significant increase in net income was due to the completion of the sale of the subconcession right in Macau in the third quarter of 2006. Adjusted net loss was $1.3 million, or ($0.01) per diluted share (adjusted EPS)(1) compared to an adjusted net loss of $2.2 million, or ($0.02) per diluted share in the third quarter of 2005.

The Who loses the thread on "Endless Wire"

2006-11-21T19:23:00.000-08:00

The Who loses the thread on "Endless Wire"

If you needed more evidence that The Who died long before it got old, then "Endless Wire" provides ample evidence of the band's sad, ignominious demise. First off, let's stop calling the band The Who. Sure, guitarist/songwriter Pete Townshend and vocalist Roger Daltrey have survived into late middle age. But if The Who didn't die when brilliant, manic drummer Keith Moon died in 1978, then surely the band was finished when bassist supreme John Enwistle died in a Las Vegas hotel suite in 2002. Call it the Townshend-Daltrey Band, call it any other preposition you choose, but "Endless Wire," the lifeless new release from the band calling itself The Who, will go down as one of the saddest codas to a magnificent legacy as ever there was. This album has been called proof of the band's revitalization, but the post-Moon Who has foisted stinkers on us before.

Las Vegas Hotel Sees Last Roll Of Dice Before Planned Demolition

2006-11-09T22:58:00.000-08:00

Las Vegas Hotel Sees Last Roll Of Dice Before Planned Demolition

Longtime employees and loyal gamblers gathered for a last farewell to the iconic 48-year-old institution. It is to be razed early next year to make way for Boyd Gaming's planned four (B) billion-dollar Echelon Place resort.

The Stardust opened July 2nd, 1958, as the world's largest hotel with more than a thousand rooms and catered to middle America with its low-priced rooms. But Boyd chairman Bill Boyd said as luxury casinos sprung up around it in the late 1980s and '90s the Stardust had trouble competing.

60-year-old Honolulu resident Jimmy Kunihiro made the last roll at the craps table. He called the Stardust a, quote, "home away from home."

The resort became as famous for its familiar friendliness as its mobbed-up past. In the 1995 movie "Casino," Robert DeNiro played the finely tailored Frank "Lefty" Rosenthal, who ran the hotel-casino in the mid-1970s.