Cannery Casino Resorts, the Las Vegas-based company that owns The Meadows Racetrack & Casino, is restructuring its executive line-up to allow its founders to spend more time on long-term strategic planning, according to a story in the Las Vegas Review-Journal.
The newspaper reported that CCR named Tom Lettero to the newly created position of president. Lettero also will retain his duties as chief financial officer.
Xavier Walsh was hired from Melbourne, Australia-based casino owner Crown Ltd. to be CCR’s chief operating officer, a position Lettero is surrendering.
Walsh will oversee operations of all CCR properties, which also include the Cannery in North Las Vegas and the Rampart Casino at the JW Marriott at Summerlin.
Walsh’s prior employer, Crown Ltd., suspended its attempt to purchase CCR for $1.75 billion in March. While Crown still has a two-year option to close the sale, the company, controlled by billionaire James Packer, paid $325 million for a 24.5 percent stake in Cannery pending regulatory approval.
CCR, like its competitors, is burdened by heavy debt and declining casino revenue. It had about $860 million in debt in late May. Executives told the newspaper the company is financially strong and is making plans beyond the current economy.
Baby boomers will surely be in Las Vegas heaven this weekend as Jerry Presley, Elvis’ second cousin, takes the stage Friday, Saturday and Sunday at Eastside Cannery’s Marilyn’s Lounge.
Presley has spent much of his career performing with such classic acts as the Platters, the Coasters, Maurice Williams and the Zodiacs and Jackie Wilson. But since 1969, he’s been focusing primarily on his tribute to his second cousin. By now, Elvis’ songs are so iconic that, Presley says, “if you forget the words, most of the audiences can sing it for you.”
And the real nice thing is the concert price: It’s FREE!
Future Eastside Cannery shows are scheduled to include such performers as Gary Lewis and the Playboys, the Association, Herman’s Hermits, The Guess Who, The Turtles and Rare Earth.
In addition, Eastside Cannery recently began hosting “Classic Rock Saturdays” events.
Eastside Cannery Casino & Hotel is located at 5255 Boulder Highway. Friday and Saturday shows start at 8 p.m. and Sundays at 4 p.m. 702-856-5470.
A group of Las Vegas casino operators are planning to pool their sports book bets so their books can handle heavier betting action.
South Point owner Michael Gaughan received preliminary approval from Nevada’s Gaming Control Board to pool sports bets with the Palms, both Cannery casinos and the Rampart Casino at the JW Marriott in Las Vegas.
Pooling will allow the books to accept larger bets on all sports, but the casino operators really want to capture a larger share of college and pro football bets when the season begins in September.
The arrangement will allow these casinos to compete more effectively against larger casinos that run multiple books, including Station Casinos, Boyd Gaming Corp., MGM Mirage and Harrah’s Entertainment.
The properties, however, can’t begin taking bets under the proposed system until the Nevada Gaming Commission approves the plan. They plan to consider the proposal at their Aug. 20 meeting in Carson City, Nevada.
It’s been three decades since the legendary jazzman Louis Prima passed on, but his music still lives on through his daughter, Lena. Lena Prima, 45, will be performing a tribute concert to her late father at the Cannery in Las Vegas at 8 p.m. this Friday and Saturday.
Louis Prima helped spearhead the acceptance of New Orleans jazz in the 1920s and big band in the ’40s. By the ’50s and through the ’60s, he had a wildly popular lounge act in Las Vegas. Prima was known as much for his sense of fun as for his excellent skills as a jazzman.
Younger audiences continue to come to him via “Just a Gigola/I Ain’t got Nobody,” a chart success by David Lee Roth in the ’80s, and “Jump, Jive an’ Wail,” which the Brian Setzer Orchestra featured a decade later.
Crown has won final approval from the Nevada Gaming Commission for the purchase of two Las Vegas casinos from Cannery Casino Resorts.
A company spokesman said today the approval came late last week and removed one major regulatory hurdle for Crown’s $1.75 billion acquisition of Cannery Casino Resorts.
Regulatory approval for the December 2007 acquisition of Cannery Casino Resorts had been expected by the end of 2008.