One in five U.S. mortgage borrowers are underwater; Nevada among the most distressed

One in five U.S. homeowners with mortgages owe more to their lenders than their properties are worth, and the rate will increase as housing values drop in states that have so far avoided the worst of the crisis, a new study shows. About 8.31 million properties had negative equity at the end of 2008, up [...]

Station Casinos reaches forebearance agreement

Station Casinos Inc [STN.UL] said on Tuesday it had reached a forbearance agreement with some of its lenders and debt holders, giving the casino operator more time to restructure its debt and operations. A forbearance agreement is an arrangement made between a creditor and its lenders to postpone, reduce or suspend payment due on a [...]

Boyd Gaming posts $220 million Q4 loss on impairment charges

Boyd Gaming Corp. posted a fourth-quarter loss of $220.8 million today due to impairment charges related to some prior acquisitions and a consumer spending pullback. Boyd’s fourth-quarter revenue declined 12 percent to $422.6 million from $478.6 million. Like many casino operators, Boyd has been squeezed as consumers tighten their discretionary spending due to mounting economic [...]

Wynn Resorts reports 4Q loss of $159.6 million

Casino operator Wynn Resorts Ltd. said today it lost $159.6 million in the fourth quarter of 2008 after paying $98.8 million in taxes. The loss Wynn reported after the market closed compares with net income of $65.5 million in the fourth quarter of 2007. Wynn said it lost $1.49 per basic share during the last [...]

CEO-CFO Group Meeting February 27

Speaker: Randy Garcia, Certified Investment Management Analyst, CEO of The Investment Counsel Company Date: February 27, 2008 Friday – Noon Lunch Place: McCormick & Schmick’s 335 Hughes Center Drive Cost: $35 includes lunch – $40 without RSVP. Pay online. (No American Express at the door-please.) RSVP: [email protected] or call 839-7222 Share on Facebook