Broadcom probe looks at ex-CEO's behavior: report

(Reuters) - In court papers, Kato claimed that Nicholas had a deep dependence on cocaine and other drugs, regularly slept with prostitutes and women other than his wife, spiked the drinks of Broadcom customers with ecstasy, and ordered prostitutes for customers while at trade shows in Las Vegas.




Steven Silverstein, Nicholas' attorney, denied all those claims, saying Kato made them in a bid to extort money from Nicholas.


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UPDATE 2-United Capital latest hedge fund to suffer losses

(Reuters) - NEW YORK, July 3 - Providing liquidity while
making risky subprime mortgage bets proved to be a bad hand for
United Capital Asset Management and other hedge funds recently
gambling on risky investments.




Earlier this year, during an American Securitization Forum
industry conference in Las Vegas, John Devaney, founder and
chief executive of United Capital Markets, was among the most
passionate of panelists who highlighted their key roles as
willing traders of a market whose losses were mounting.


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"American Idol" owner agrees to CEO-led buyout

(Reuters) - Shareholders would receive $13.75 in cash and one share of FX Luxury Realty LLC for each share of CKX, the company said. FX Luxury is an affiliate of CEO Robert Sillerman that has real estate interests in Las Vegas as well as licenses to use Elvis Presley's and Muhammad Ali's names in the development of real estate and attractions.




The cash portion of the offer represents a 29 percent premium to CKX's closing share price of $10.63 on Thursday. On Friday, shares soared to a high of $15.34 before settling at $14.31 in late morning trade on Nasdaq.


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Casino shares soar on Tracinda/MGM Mirage

(Reuters) - Tracinda said Monday it will enter talks to buy MGM Mirage's Bellagio property and its $7.4 billion CityCenter development on the Las Vegas Strip.




Tracinda said a deal could result in a financial restructuring of the remainder of the casino company, which controls roughly one-third of the famed Strip, with properties such as Luxor, Mandalay Bay and Circus Circus.


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Asia can do Las Vegas: tycoon

Backed by growing economic affluence, Asia has room to house eight to 10 Las Vegas-style strips offering gaming and entertainment facilities, US casino tycoon Sheldon Adelson said on Thursday.

"There is probably room for 10 Las Vegases throughout Asia," said Adelson, chairman and chief executive of Las Vegas Sands which won a license to build one of Singapore's two integrated gaming resorts.

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