Disney to close Las Vegas ESPN Zone restaurant, four others
LOS ANGELES -- The Walt Disney Co. plans to close five ESPN Zone restaurants in Las Vegas, Baltimore, Chicago, New York and Washington, D.C., saying the economics of the business were "very challenging."
The company said Wednesday that the two ESPN Zone restaurants in Los Angeles and Anaheim will remain open and operated by other companies.
The sports bar and restaurant had arcade games and big-screen TVs and served up burgers and beer.
The first ESPN Zone opened in Baltimore in July 1998 in the tourist attraction area known as Inner Harbor.
The ESPN Zone opened at New York-New York in July 2001.
Ameristar to spend $14 million to expand hotel in Missouri
Ameristar Casinos said Wednesday it would spend $14 million to expand the hotel portion of its riverboat casino property in Kansas City, Mo.
The project will add 100 hotel rooms and a fitness center to the Ameristar Kansas City and is targeted for completion at the end of 2011.
Ameristar Kansas City now has 184 hotel rooms, which were renovated in September 2006.
Expanding in Kansas City doesn't mean the Las Vegas-based regional casino operator won't consider other opportunities elsewhere. Ameristar operates a hotel-casino in St. Charles, Mo., outside St. Louis and may be interested in acquiring a third Missouri gaming license.
The hotel addition will feature 80 rooms and 20 suites, and will connect into the current hotel on each floor using the existing infrastructure.
Isle of Capri buys Mississippi casino from Bally Technologies
Isle of Capri Casinos completed an $80 million all-cash purchase of the Rainbow Casino in Vicksburg. Miss., from Bally Technologies on Wednesday.
The deal was announced last spring. The Las Vegas-based slot machine maker had been trying to sell the casino for several years.
"This transaction expands our presence in Mississippi and returns Isle to the Vicksburg market," Isle of Capri Chief Executive Officer James Perry said in statement.
Isle of Capri is based in St. Louis. The company plans to rebrand the Rainbow as the Lady Luck Casino Vicksburg.
Singapore casinos propel Shuffle Master earnings
Gaming equipment provider Shuffle Master said it benefitted from the openings of two casinos in Singapore, which helped propel the company's second-quarter earnings.
Shuffle Master Chief Executive Officer Phil Peckman said Wednesday the Las Vegas-based company gained approximately $500,000 in the quarter through leases for the company's gaming equipment.
"Our second quarter showed strong year-over-year growth due to compelling drivers in our product segments," Peckman said in a statement.
In Singapore, Genting's Resorts World Sentosa and the $5.7 billion Marina Bay Sands, owned by Las Vegas Sands Corp., both opened.
Shuffle Master said its net income for the quarter that ended April 30 was $7.9 million, or 15 cents per share, which compared with net income of $4.4 million, or earnings of 8 cents per share.
The company said its total revenues in the quarter were $50.8 million, a 12 percent increase compared with $45.3 million a year ago.
NEW YORK
CVS Caremark to cut off Walgreen from network
CVS Caremark Corp. said Wednesday it will end rival Walgreen Co.'s participation in its retail pharmacy network starting in a month.
The move would mean that people whose prescription drug benefits are handled by Caremark would not be able to be reimbursed for prescriptions filled at Walgreen pharmacies. Walgreen said it expects most of its 7,500 stores to be out of Caremark's commercial network in 30 days. Some Walgreen stores won't be cut off as quickly because of state laws or client contracts.
The Woonsocket, R.I., pharmacy benefits manager also said it will end Walgreen's participation in its Medicare Part D retail pharmacy network on Jan. 1.
Walgreen wants to be paid more for filling prescriptions, while Caremark makes money by reducing costs for plan members and sponsors. The companies had been in negotiations for months, although CVS now says Walgreen refused to negotiate in good faith.
