Issue 30
April 4 - 10, 2001
Volume 1
page 1

This Issue

Gaming News
Bally's Las Vegas Has A New Look

Aladdin Struggles to Make It on The Strip

Oneida Tribes to Build
Casino Resort in Mexico

Greyhound Offers Direct Service to Barona Casino

California Investor to Purchase Resorts Atlantic City

MGM Mirage to Develop Detroit Casino Riverfront Site

Three Helpful Resources for Betting Baseball 2001

Show Time
98 Degrees will perform one show at the Aladdin's Theatre for the Performing Arts on Friday, April 27

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Bally's Las Vegas
Has A New Look

LAS VEGAS, NV - /Newstream/ - Bally's Las Vegas has been upgrading and modernizing the entire resort, providing guests with classic Vegas style and contemporary amenities.

The new Bally's hotel rooms feature a bright and natural look, described as "Accessible Contemporary" by Kovacs & Associates, a leading interior design firm responsible for the Paris Las Vegas hotel rooms.

Maple wood is used extensively for the room furnishings (armoire, nightstands, headboard and dressing table) as well as the crown molding in each ceiling. The carpeting is a custom-carved pattern specially designed for Bally's. Woven fabrics are used for the bedspread and drapery. Granite is used for the desktops and for the bathroom floors and counter tops. The artwork was commissioned exclusively for Bally's.

Also, the resort is erecting a new, 15-story 3-dimensional outdoor marquee that will dramatically change the look of the world-famous Four Corners at Flamingo & the Strip, the most-heavily trafficked destination in Las Vegas.

The new Bally's Las Vegas hotel rooms, already one of the largest standard hotel rooms on the Las Vegas Strip, features a bright and new "Accessible Contemporary" look.

The renovations at Bally's began in 1999 to coincide with the opening of the resort's sister property Paris Las Vegas Casino Resort, a $785-million Parisian-themed resort next door to Bally's.

The first phase of the Bally's renovation included upgrades of the convention facilities, focusing on the Ballroom and Events Center. New d�cor has been added, featuring shades of beige (continue p.4)

Aladdin Struggles to Make It on The Strip

LOS ANGELES, CA - /Reuters/ - The $1.3 billion Aladdin Hotel and Casino, the Las Vegas Strip's newest mega-resort, has struggled in its initial months of operation and may fail to meet upcoming financial obligations without a debt restructuring or cash infusion, according to a filing by the company on April 2.

The quarterly filing by Aladdin Gaming Enterprises depicted a company struggling to find a winning mix of gaming and image on the competitive Las Vegas Strip where it competes with much larger corporations that own multiple properties.

Since its opening in August 2000 the Aladdin has reduced its staff to 3,100 workers from an initial 4,500, according to the privately held company's quarterly filing with the Securities and Exchange Commission. For all of 2000, the company - which sits on the site of the old Aladdin where Elvis Presley married Priscilla Beaulieu - reported a net loss, including opening costs, of $8.56 million.

To address the potential shortfall, Aladdin said it is exploring several alternatives, including taking on more debt or selling an adjacent five-acre parcel of land. The company said it may also try to reach a new agreement with its creditors.

The casino's weak is largely the result of poor design and marketing issues, according to analysts.To a lesser extent, the resort was also the victim of a slowing economy, and had the misfortune of opening at the end of a building boom that saw thousands of rooms added to the Las Vegas Strip over the last three years.

While it is not unusual for new casinos to get off to slow starts, the Aladdin has drawn criticism from gaming analysts on issues ranging from its poor access to the Strip to the congested layout of its casino floor.

Rumors abound that Aladdin's partner London Club International has been shopping its stake in Aladdin in an effort to shed what many perceive as an albatross around the company's neck. One frequently mentioned potential buyer is park place Entertainment Corp., which owns about 30 percent of Aladdin's high-yield zero bonds and also owns an operates the adjacent Paris Las Vegas Casino Resort.

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