Issue 113
November 11-17, 2002
Volume 3
page 2
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This Issue

Gaming News
Venetian Resort Selected As One Of The Top Hotels In The Americas & The Caribbean

Wynn Plans for Macau Casino Groundbreaking

Black Hawk Casino By Hyatt Files for Chapter 11 Bankruptcy Protection

National Airline's Closes, Passengers Stranded

InterCasino Launches Player to Player Online Poker Room

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Boxers Erik Morales and Paulie Ayala will meet in the ring in Vegas for the World Featherweight Championship -- an important fight for both men - at the Events Center at The Mandalay Resort Casino on November 16

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Venetian Resort Selected As One Of The Top Hotels
In The Americas & The Caribbean

LAS VEGAS - /BUSINESS WIRE/ - The Venetian Resort-Hotel-Casino has been recognized by Conde Nast Traveler as one of the top 20 hotels in the Americas and the Caribbean.

Listed among exceptional properties such as The Ritz Carlton and The Four Seasons, The Venetian is one of only two Las Vegas properties to receive an award. The Venetian was up against the finest resorts in the country, competing with top properties from the Bahamas and Hawaii to Alaska and Chile.

"We are honored to receive an award of such statue from Conde Nast Traveler," noted Rob Goldstein, president of The Venetian. "It is a privilege to be ranked so highly among some of the most luxurious and world-renowned hotels."

Conde Nast Traveler's readers vote on the property they feel deserve the award, based on the standards in which each property upholds in four different areas; these areas are rooms, service, restaurants, and location.

Themed after Renaissance Venice, Italy, The Venetian offers guests 3,036 hotel suites (each standard suite measures approximately 700 square feet), approximately 120,000 square feet of gaming floor, approximately 500,000 square feet of retail space at The Grand Canal Shoppes, the luxurious 65,000 square-foot Canyon Ranch® SpaClub(TM), approximately 500,000 square feet of meeting space at The Venetian Congress Center and a direct link to the approximately 1 million square-foot Sands Expo and Convention Center.

The Venetian is currently building an additional 1,013-suite hotel tower, which will make it the 3rd largest hotel in the world upon completion in mid-June 2003. The expansion also includes 150,000 square feet of additional convention center space. The suites in the new tower will help to better accommodate convention planners, exhibitors, and attendees.

In October 2001, The Venetian also became home to two world-class museums: the 63,700 square-foot Guggenheim Las Vegas featuring The Art of the Motorcycle installation and the 7,760 square-foot Guggenheim Hermitage Museum featuring Masterpieces and Master Collectors.

Wynn Plans for Macau Casino Groundbreaking

LAS VEGAS - /Associate Press/ - Casino mogul Steve Wynn announced that he hopes to break ground on a Macau casino in January.

Wynn made the announcement on Nov. 8 in a speech to the Urban Land Institute at The Venetian, one day after breaking ground on his $2.4 billion Le Reve on the Las Vegas Strip.

He expects to break ground on the first phase of a Macau hotel-casino early next year, as long as the Chinese enclave makes changes that would toughen casino regulations.

The project would be built in two phases, with the first phase including a casino, a porte cochere and restaurants. The project would take about one year to build, and, when opened, would allow Wynn Resorts to begin generating cash flow, as much as one year before the scheduled April 2005 opening of Le Reve.

The hotel would be built in the second phase, which would begin immediately after the completion of the casino phase, Wynn said.

He said he expects to visit Macau in a couple of weeks.

Wynn signed a 20-year deal in June to invest at least $512.8 million to build at least one hotel-casino in Macau. Wynn received one of three concessions to operate casinos in Macau when the government decided to end a monopoly held by Portuguese casino operator Stanley Ho.

A group including Venetian owner Sheldon Adelson and Macau investors also won concessions.

Wynn Resorts raised $450 million from its initial public offering last week; $40 million from the IPO will be used to develop a casino resort in Macau, company Securities and Exchange Commission filings noted.

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