VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
Issue link: https://www.ifoldsflip.com/i/72760
JULY 2, 2012 / YOUR BUSINESS-TO-BUSINESS WEEKLY BUSINESS TOOLS IN A RECOVERY SPECIAL FOCUS This month, VEGAS INC looks at legal issues, tips for growth and fending off trouble. LICENSE APPROVALS PUSH ONLINE GAMING AHEAD By Richard N. Velotta senior staff writer I nternet poker play could begin with- in the state's borders by the end of the year after the Nevada Gaming Commis- sion unanimously approved licenses to two leading gaming equipment manu- facturers on Thursday. cent in May, coupled with the state's move from No. 1 to No. 3 on the residential foreclosure list, are encouraging signs of a fiscal return. But insiders say that for the most part, businesses that struggled during the recession will continue to do so, at least for the short-term future. DEBT-FREE GOAL W Debt holders are taking over the Hooters hotel aſter owners filed for bankruptcy last year to block a threatened foreclosure by creditors. TIPS FOR REDUCING EXPENSES AND RESTRUCTURING DEBT By Steve Green senior staff writer hile the Southern Nevada economy appears to be improving, bankruptcies and dis- tressed debt business restructurings are showing no signs of slowing down. ¶ The slight decline in Nevada's unemployment rate, from 11.7 percent in April to 11.6 per- SEE BANKRUPTCY, PAGE 12 READY, SET, WIN. PECCOLE PROFESSIONAL PARK 10080 WEST ALTA DRIVE, SUITE 200 • LAS VEGAS, NEVADA 89145 HUTCHLEGAL.COM 20120702_VI01_F.indd 1 6/28/12 1:54:22 PM SUN FILE PHOTO (2007) In the annals of gaming industry his- tory, Las Vegas-based Bally Technologies will be remembered as the first com- pany in the United States to receive an interactive gaming license, even though slot manufacturing giant International Game Technology, based in Reno, got its license less than an hour later. Richard Haddrill, CEO of Bally Technologies, contracted with said his company has Landry Gaming's Golden Nugget property in downtown Las Vegas to provide an Internet poker product and, after a routine testing process by regulators, expects it to be ready for play by the end of the year or SEE LICENSE, PAGE 8 INSIDE TODAY Gaming moves online | P. 7 Casino companies are using social media to recruit new players and increase profits Godfather of concert promotion | P. 16 Columnist Bruce Spotleson reminisces with a longtime entertainment honcho THE LIST | P. 21 Commercial real estate developers