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Cosmopolitan Opens to the Public

LAS VEGAS -- With an exciting countdown, the doors to the Cosmopolitan finally opened. Thousands of eager gamblers, tourists and locals walked into the new resort's elegant interior. Inside the 100,000 square foot casino, luxury appeared before their eyes.

Guests who walked through the lavish property expressed awe at the casino's extravagant flooring, high-end restaurants, boutiques, and a hip, modern bar known as the Chandelier.

"It's just stunning in there, and there's food everywhere, and great people, and lots of drinks. It's just really nice," said Cosmopolitan guest Elizabeth Kveton. "It's just a whole new level of experience from what I've had before, so it's really nice."

With so much shine and sparkle, some might say the $3.9 billion Cosmopolitan truly is a jewel on the Strip. The luxury hotel rooms offer plenty of space and spectacular views of Las Vegas Boulevard.

The Cosmopolitan Set to Open

LAS VEGAS --  Tonight, the newest resort on the Las Vegas strip will open.

The multi-million dollar Cosmopolitan has 2,000 hotel rooms, a 100,000 square foot casino and more than a dozen restaurants. Workers are putting the final touches on the hotel, but for the most part, everything is done.

It is a luxury hotel but not stuffy. There is definitely a fun, playful side to the property. One of the many standouts is the 14 restaurants inside. 

The property sits on 8.7 acres of land and is more of a vertical property. There is plenty to see, including digitally animated columns, a huge casino and a three-story chandelier made up of 2 million crystals.

One of the big priorities at the Cosmopolitan is live entertainment. Each bar has the capability of showcasing DJ's or live bands.

NV Casino Winnings up 11 Percent

CARSON CITY, Nev. -- State regulators say casinos in Nevada reported winnings up 11 percent in October from the same month a year earlier.

The Nevada Gaming Control Board said Thursday the state collected just over $60 million in taxes based on casino gambling revenues of almost $889 million for the month.

That tax figure was up a dramatic 22 percent from a year ago. The so-called casino "gaming win" was up almost 4.4 percent for the first four months of the fiscal year, which started in July.

Taxes paid on casino winnings account for about a third of Nevada's general fund revenues.

A statewide breakdown shows October gambling revenues up 16 percent on the Las Vegas Strip, and up more than 8 percent in Reno compared with October 2009.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

BREAKING NEWS: Wind Advisory and Freeze Watch Issued

LAS VEGAS -- A wind advisory has been issued starting at 3 p.m. and lasting until midnight for Clark County and southern Nye County and a freeze watch will be in effect Wednesday night.

Winds are expected to be gusting between 20 to 30 mph and with gusts possible to 50 mph. There is also a slight chance of rain. The temperature will drop Wednesday and is expected to be in the 40's on Thanksgiving Day making it one of the coldest in recent years.

Check here for the latest Neighborhood Weather

A freeze watch is in effect from Wednesday night to Friday morning. Some neighborhoods could see temperatures in the 20's.

 

Casino Giant Changes Name to Caesars Entertainment

LAS VEGAS -- Harrah's Entertainment Inc., the world's largest casino company, has changed its name to Caesars Entertainment Corp.

Harrah's will continue to be one of the company's brands, along with Caesars, Horseshoe, Total Rewards, and World Series of Poker.

Chairman and president Gary Loveman said Tuesday the new name can open new opportunities for the company in the future. The company has 52 casinos in six countries. It has 70,000 employees and annual revenues of $8.9 billion.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

MGM Resorts Shares Rise, Analysts Cites Vegas View

SAN FRANCISCO  -- Shares of MGM Resorts International rose Monday after a Sterne, Agee & Leach analyst said that the casino company believes its revenue per available room on the Las Vegas Strip is climbing in the third and fourth quarters compared with a year ago, and indicated it currently has more hotel room nights booked for the first quarter than it did at this time last year.

MGM Resorts shares rose 46 cents, or 3.8 percent, to $12.61 in afternoon trading. In a note to clients, Sterne Agee analyst David Bain said that MGM management said in meetings that, even without adding in resort fees, it thinks its revenue per available room will climb in the second half of 2010. Still, the company noted that fourth-quarter results include much traffic in the last week of the period -- a week Bain thinks comprises 15 percent of its results for the quarter and that MGM has "little visibility on."

Casino Analyst: Slot Makers Discounting Prices

LAS VEGAS  -- A casino industry analyst says slot machine manufacturers are discounting prices and pinning hopes on new kinds of revenue while casinos hold back on spending to update their floors.

Robin Farley of financial firm UBS told investors Thursday that casino revenues have gotten more stable but casinos haven't boosted spending on the popular gambling devices.

Farley says a possible big order for WMS Industries Inc. machines could influence purchases by other casinos. Slot machine makers say their market has changed because casino expansion is limited.

WMS President Orrin Edidin says replacements are the focus today. Farley says most manufacturers have plans in place for how they will react if online gambling is fully legalized in the United States.

(Copyright 2010 by The Associated Press. All Rights Reserved.)