Las Vegas business briefs

TIMESHARE HOTEL CONTEMPLATED NEAR MANDALAY BAY -- Circus Circus Enterprises Inc. will seek Planning Commission approval Thursday to shift its previously announced time-share apartment project to a different site at the south end of Las Vegas Boulevard. The proposal calls for building a 30-story, 350-foot high, 500-room time-share hotel tower on Circus land southwest of Mandalay Bay between Russell Road and Hacienda Avenue and closer to I-15 than the west side of the Strip. Circus directors haven't made a final decision to proceed with the project, previously approved for a 15-acre Circus site on the east side of the Strip across from Luxor, a company spokeswoman said.

LV VILLAGE SQUARE TO OPEN, OWNERS ACCUSED OF BRIBE IN CANADA -- The developers of the two largest shopping malls in the world plan a Hollywood-style VIP event for the opening of the Village Square shopping center on the northwest corner of Sahara Avenue and Fort Apache Road. Triple Five Nevada Development Corp., a subsidiary of the builders of the West Edmonton Mall in Canada and the Mall of America in suburban Minneapolis, plans a public grand opening event Saturday at 11 a.m. Village Square includes an 18-screen Act III theater with stadium seating and 60,000 square feet of shopping and restaurants. Meanwhile, four Canadian brothers who head the development company have been sued by the government-owned Alberta Treasury Branches for $450 million ($297 million U.S.), alleging they used a secret Israeli bank account to bribe the ATB's former top executive in return for approving a massive refinancing for the West Edmonton Mall in 1994. The Globe and Mail of Toronto also reported earlier this month that the Ghermezian brothers, who are in Las Vegas for the opening of Village Square, are considering a countersuit against the ATB and vehemently deny any wrongdoing. "The accusations are totally without merit," said Martin Walrath, president of Triple Five Nevada, who said the ATB suit is an effort to renege on refinancing commitments. "The U.S. operations are completely independent of the Canadian operations and they are flourishing."

AMERICAN WAGERING'S LOSS MORE THAN DOUBLES -- American Wagering Inc. of Las Vegas said it lost $1.1 million, or 15 cents per share in the quarter ended July 31. That compares to a loss of $484,000 or 6 cents a share in the same quarter last year. Revenue of $1.6 million was down from $2 million. American Wagering blamed the higher loss on investments in its Mega$ports joint venture, costs for the termination of the acquisition of Imagineering Inc., a decline in sale of race and sports book systems, cost of ongoing litigation and a decline in the net win percentage in its horse and sports wagering unit. American Wagering Inc. operates 43 Leroy's Horse and Sports Place sports books in Nevada. It also announced new contracts to operate sports books at the Sunrise and Speedway casinos in Las Vegas and at three casinos in Reno.

LADY LUCK EXPANDS IN MISSISSIPPI -- Lady Luck Gaming Corp. of Las Vegas announced plans for a $15 million, 305-room hotel at its Country Casino site near Lula in Coahoma County, Miss. The company also announced a $500,000 renovation of the adjacent Rhythm & Blues hotel-casino. The expansion will put Lady Luck's total investment in Coahoma County near $100 million.

HUMANA PLAN WON'T AFFECT NEVADA -- Kentucky-based Humana Inc.'s plan to discontinue service to one of its largest Medicaid markets won't affect the company's operations in Nevada, a Humana spokesman said.

To contact Sun Business Editor Steve Green, call 259-4083 or e-mail [email protected]

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