Chumash Casino wins AAA award
SANTA YNEZ, California — (PRESS RELEASE) — Once again, the Chumash Casino Resort and its upscale restaurant, The Willows, have earned the highly coveted AAA Four Diamond Award, a designation bestowed on only the finest hotels and restaurants in Southern California by the Automobile Club.
The award is presented each year to hotel and restaurant general managers and executive chefs to recognize their award-winning properties, which are among the top 4 percent of more than 2,500 Southern California hotels, motels and restaurants inspected by the Auto Club of Southern California, the nation’s largest AAA affiliate.
Now in its fourth consecutive year of Four Diamond status, the Chumash Casino Resort was one of eight hotels receiving the recognition in Santa Barbara County. Others earning the award were The Ballard Inn; Fess Parker’s Wine Country Inn & Spa in Los Olivos; Fess Parker’s Doubletree Resort, Harbor View Inn and Inn on Summer Hill in Santa Barbara; the Santa Ynez Inn; and the Petersen Village Inn in Solvang.
Just two restaurants in the county earned the recognition, including the Chumash Casino’s Resort’s own fine dining experience, The Willows, along with the Ballard Inn Restaurant. This is the third consecutive year The Willows has received the AAA Four Diamond Award.
“This is truly an honor and reflects the level of dedication and hard work of our staff that each day meets the standard for excellence in hospitality and dining,” said Vincent Armenta, tribal chairman of the Santa Ynez Band of Chumash Indians, owners of the Resort.
On Monday, the Chumash Casino Resort hosted a luncheon for those Santa Barbara County hotel owners and general managers whose properties were named Four Diamond for 2008.
“Few people realize how difficult it is to meet those standards set by AAA,” John Martino, executive director of hospitality of the Chumash Resort, told the crowd of about 20 who enjoyed a delectable, multi-coursed meal created by The Willows Executive Chef Anthony Minniti. “It’s really exciting to see how properties in Santa Barbara County are raising the bar for other hotels and restaurants in terms of service and quality.”
On hand during the event to present each winner with a Four Diamond plaque was the Auto Club’s Approved Accommodations Manager Charles Smith.
“The AAA diamond rating system remains an objective and consistent method to measure upscale dining establishments and lodgings which Auto Club and AAA members rely upon,” Smith said. “We again congratulate the restaurant and hotel professionals that day-in and day-out work conscientiously to offer high caliber service, hospitality and pampering to their guests in accommodations that are beautiful, clean and comfortable.”
David Brents, chief operating officer of the Chumash Casino Resort, said he was pleased to learn that both the hotel and restaurant will enter the 2008 year with the Four Diamond status.
“We always strive for excellence,” Brents said. “This is the fourth consecutive Four Diamond designation for our hotel, and the third consecutive for the Willows. This clearly speaks to the tradition of exemplary service and attention to detail of our staff.”
The Chumash Casino Resort, located off Highway 246 in the Santa Ynez Valley, is owned by the Santa Ynez Band of Chumash Indians. Offering 24/7 gaming, three restaurants, headline entertainers, a luxury hotel and spa, the Resort has quickly become the entertainment destination of choice in the Santa Ynez Valley. With 1,600 employees, the Chumash Casino Resort is also the largest employer in the Valley, and among the largest in Santa Barbara County.
Isle of Capri names senior VP
ST. LOUIS, Missouri — (PRESS RELEASE) — Isle of Capri Casinos, Inc. (Nasdaq: ISLE) officials announced today that Donn Mitchell has been named senior vice president of United Kingdom operations, pending regulatory approval. Mr. Mitchell currently serves as the Company’s senior vice president, chief financial officer and treasurer, and will remain in this position until his successor is named.
Mr. Mitchell joined Isle of Capri Casinos, Inc. in 1996 as Director of Financial Analysis, and served in a variety of other financial positions with the Company. He was promoted to his current role in 2005, at which time he was instrumental in the relocation of the corporate office from Biloxi, Miss. to St. Louis, Mo. Mr. Mitchell recently led Isle of Capri Casinos through a refinancing resulting in the company entering into a new $1.35 billion senior secured credit facility.
Prior to joining the Company, Mr. Mitchell served as audit manager for Arthur Anderson LLP in New Orleans, La. He holds a bachelor’s degree in business administration from the University of Southern Mississippi and is a certified public accountant. In 2002, Mr. Mitchell was recognized by the Biloxi Sun Herald as one of coastal Mississippi’s Top Ten Under Forty business leaders.
Virginia McDowell, president and chief operating officer of Isle of Capri Casinos, Inc. said, “Donn will be charged with maximizing the potential of our gaming operations in the United Kingdom, and his history with the company and financial background will serve as a valuable skill set as he moves into this important operational role leading our UK team. As we continue to define our strategic opportunities, enhance our marketing programs and streamline our cost structure, Donn’s familiarity with our properties and markets will be a significant asset.”
Isle of Capri Casinos, Inc., founded in 1992, is dedicated to providing its customers with an exceptional gaming and entertainment experience at each of its 18 casino properties. The Company owns and operates casinos in Biloxi, Lula and Natchez, Mississippi; Lake Charles, Louisiana; Bettendorf, Davenport, Marquette and Waterloo, Iowa; Boonville, Caruthersville and Kansas City, Missouri and a casino and harness track in Pompano Beach, Florida. The Company also operates and has a 57 percent ownership interest in two casinos in Black Hawk, Colorado. Isle of Capri Casinos’ international gaming interests include a casino that it operates in Freeport, Grand Bahama, a casino in Coventry, England, and a two-thirds ownership interest in casinos in Dudley and Wolverhampton, England.
There are four Isle of Capri Casinos brands including “the isle,” Isle of Capri, Colorado Central Station and Rhythm City, providing over 16,000 slot machines, 550 table games and 3000 hotel rooms for our guests’ enjoyment.
Wynn Resorts reports earnings
LAS VEGAS, Nevada — A year ago, the third-quarter earnings of Wynn Resorts Ltd. were somewhat skewed, reflecting just a month of results from the newly opened Wynn Macau and a $900 million influx from the sale of a lucrative subconcession to operate casinos in the Chinese enclave.
On Tuesday, the Las Vegas-based casino operator reported more normal earnings, which showed the value of the company’s growing Macau gaming hub.
With a full quarter of results from the 600-room Wynn Macau, the company’s overall revenue for the quarter that ended Sept. 30 more than doubled, coming in at $653.4 million, up from $318.1 million last year.
Wynn Resorts, which operates Wynn Las Vegas on the Strip, said it earned $44.7 million during the quarter, or 41 cents a share. The number was a sharp decrease from $715.7 million, or $6.43 a share, which reflected sale of the subconcession for $900 million. Without that sale, Wynn would have lost $1.3 million or a penny a share in the 2006 third quarter.
Analysts polled by Thomson Financial had expected Wynn to earn 63 cents a share.
The company announced earnings after the close of trading on the Nasdaq National Market. Shares of Wynn closed at $167.90, down $5, or 2.89 percent. After the earnings release, shares fell an additional 4.5 percent during after hours trading.
Wynn Macau clearly drove the company’s quarterly results. The casino on the Macau Peninsula generated net revenues of $347.7 million and cash flow of $92.8 million.
On a conference call with analysts and investors following the release of earnings, Wynn Resorts Chairman Steve Wynn said casino will be expanded by the middle of January to have approximately 380 tables games, 100 more than a year ago, and 1,200 slot machines, more than double the opening number.
Wynn said an additional 400 luxury hotel suites are under construction and will open in 2010.
Wynn also previewed its plans for a 52-acre site on Cotai Strip, saying the company was designing a villa-style, all-suite hotel with between 1,500 and 2,000 units.
“We will occupy the whole property,” Wynn said. “By our own hyperbolic nature, we will build the most beautiful hotel on Earth on our property. End of statement.”
Wynn also deflected suggestions from analysts that the company might partner with business entities in Macau that have land available for development, but lack a gaming concession. He said Wynn Resorts “is not a joint venture kind of company.”
While the company touted Macau, Wynn officials didn’t discount Wynn Las Vegas. Casino revenues during the quarter were $149.9 million, almost 14 percent higher than the same quarter a year ago. Nongaming revenue was $193.1 million, more than 8 percent above the figure reported a year ago.
Wynn also previewed the $2.2 billion Encore, under construction next to Wynn Las Vegas. The 2,034-room all-suite hotel will have rooms larger than Wynn Las Vegas and the casino will resemble the Wynn Macau, where the large gaming area is divided and separated by half walls and chambers to give customers greater intimacy.
“We approached the design of Encore with new information in mind,” Wynn said. “There will be some things no one has ever seen on the Strip before. It won’t look like Las Vegas. There will be natural light everywhere and it will be fascinating to see what the reaction will be.”
Bookmaker made up £3,000 robbery
HERTS, England — As reported by the BBC: “A bookmaker claimed he had been robbed after losing thousands of pounds on a gaming machine at work, a court heard.
“Charlie Ross, 24, stole £3,657 of tokens, and lost them gambling, in Joe Jennings, in Bishop’s Stortford, Herts.
“…He received a three-month jail term, suspended for a year, and was ordered to complete 200 hours unpaid work.
“…David Chrimes, prosecuting, said: ‘He did not win any money and could not pay for the credit he had used. In panic he decided to report to the police that he had been robbed.’…”
Gambling addicts jailed for fraud
LONDON, England — As reported by the BBC: “Two self-confessed gambling addicts who funded a spree at a London casino using a stolen cheque book have been jailed.
“Alakasundram Prabaharan from East Ham, east London, and Gurmit Singh Multani from Maida Vale, west London, raised about £8,000 from their scam.
“The cheques were taken from a book stolen from a British tourist in March last year, Southwark Crown Court heard.
“Prabaharan was sentenced to 16 months and Multani to 12 months.
“…The original owner of the cheque book Kulwant Singh, was on holiday in New Delhi, India when he was robbed at a railway station…”