Pulse Twitter Weekly Update 2010-02-22

February 22, 2010
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Las Vegas can’t book political conventions due to other shows & 90 day space requirements, Forbes analysis of the outlook for MGM Mirage and Las Vegas Sands, GCR Gaming (Greenspun) filed motion charging Stations has breached the management duties of partnership, LA City Council proposal privatize convention center

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Nevada Gaming Commission – Is Harrah’s Too Big?

February 18, 2010
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In the casino industry market consolidation benefits stockholders and private equity firms, not the customer. Costs and overhead can be reduced and marketing costs spread over a broader base of properties. Harrah’s now has nine casinos in Southern Nevada and MGM has twelve.

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CityCenter’s Vdara Condos Don’t Provide Kitchen Amenities

February 18, 2010
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Guests who rent accommodations at CityCenter’s Vdara condotel should be aware that the condos do not include all the kitchen amenities usually provided with renting a condo. A guest at Vdara didn’t like that her Deluxe Suite inside Vdara had a kitchen but no dishes or utensils, and no coffee maker. She brought her own immersion heater so she and her husband could enjoy coffee in their room in the morning.

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Pulse Twitter Weekly Update 2010-02-15

February 15, 2010
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ARC reported ticket sales totaled $5.95 billion in Jan, Singapore’s 1st Casino Opens, Hawaii debating legal gambling, Lehman Brothers sues Fontainebleau developer, Las Vegas Monorail failed to prove eligibility for Chapter 11 bankruptcy, Las Vegas Strip sees 5.8% gaming win increase in December, Green Valley Ranch files Chap 11

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Harrah’s Doubled its Debt in Private Equity Buyout

February 15, 2010
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About a year ago, investors were so convinced that Harrah’s Entertainment would file for bankruptcy protection that the company’s bonds — its promises to pay back billions of dollars — traded for 10 cents on the dollar.

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Las Vegas High-Rise Condo Market Improving Slightly

February 14, 2010
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Sales of Las Vegas high-rise condos & hotel-condo units within the Strip residential market increased over the last three months of 2009. Wall Street analysts and Las Vegas real estate professionals say a slight thawing in the frozen Strip high-rise condominium might be taking place. But market observers say prices haven’t yet hit bottom.

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Pulse Twitter Weekly Update 2010-02-08

February 8, 2010
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Why you won’t see Las Vegas ads during the Super Bowl, Penn National CEO Mystified by Aqueduct Racino selection, Harrah’s gets OK to buy Planet Hollywood, Harrah’s Entertainment close to Macau deal buying a 32.5 percent stake in Melco Crown Ent owned by James Packer, Cosmopolitan owner Deutsche Bank writes down its value by $103 million

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Aria Marketed as MGM’s Premium Property – But Rates are Lower than Bellagio

February 3, 2010
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MGM Mirage planed to market the Aria hotel at a premium to the Bellagio hotel-casino. However, Aria’s room rates have been dropping, over some dates in February, as much as 41 percent lower than Bellagio.

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Successful Aqueduct Racino Bidder Consortium with Las Vegas Ties and New York Influence

February 1, 2010
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UPDATED – Investigation Begins – New York’s Governor and legislative leaders selected Aqueduct Entertainment Group for a 30 year exclusive agreement to operate video lottery terminals at Aqueduct Racetrack in Queens. AEG includes several New York City builders; a former NY congressman; and Larry Woolf’s Las Vegas based company, The Navegante Group.

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Pulse Twitter Weekly Update 2010-02-01

February 1, 2010
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Harrah’s to appear Feb 3 at Gaming Control Board for approval of Planet Hollywood purchase – NFL’s Super Bowl ad hypocrisy toward Las Vegas changes little – Bellagio room rates higher than Aria, not the market placement planned for Aria – Hotels drop “Resort” from name to book meetings business – Fontainebleau Update

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