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  • Atlantic City's Revel casino sells for just $82M Tuesday, 24 Feb 2015 | 5:02 PM ET
    The now-closed Revel Casino in Atlantic City, New Jersey.

    A deal to sell Atlantic City's former Revel Casino Hotel to a Florida developer has been resurrected, albeit for a lower price.

  • NEW YORK, Feb 24- The shuttered Revel Casino Hotel in Atlantic City has struck an amended $82 million deal with Florida developer Glenn Straub's Polo North, according to a statement by its parent company. Polo North has increased its $10 million deposit to the full $82 million purchase price, the statement said. Last month, a U.S. bankruptcy judge approved the sale...

  • ATLANTIC CITY, N.J.— A Florida developer agreed to buy Atlantic City's former Revel Casino Hotel for $82 million on Tuesday, a week after a bankruptcy judge declared his former deal to buy it at a higher price dead. Glenn Straub's new contract gives him a discount from the $95.4 million his Polo North Country Club would have had to pay under the deal killed by the...

  • Brazil unions sue McDonald's, try to block new stores Tuesday, 24 Feb 2015 | 2:36 PM ET

    SAO PAULO— Brazilian labor unions are suing McDonald's and its local franchisee Arcos Dourados for allegedly violating labor laws for at least 30 years. The suit filed Monday in Brasilia also seeks to prevent McDonald's from opening new stores until it complies with legislation and asks that it be slapped with penalties of up to 30 percent of its revenue in...

  • Feb 24- Domino's Pizza Inc on Tuesday reported quarterly profit that fell short of Wall Street's estimate, as higher costs took some of the shine off better-than-expected sales at established restaurants. While companies such as McDonald's Corp have warned that minimum wage increases and other labor-related costs would squeeze profits in 2015, Domino's...

  • Sotherly Hotels reports 4Q results Tuesday, 24 Feb 2015 | 11:58 AM ET

    WILLIAMSBURG, Va. _ Sotherly Hotels Inc. on Tuesday reported a key measure of profitability in its fourth quarter. The Williamsburg, Virginia- based real estate investment trust said it had funds from operations of $2 million, or 15 cents per share, in the period. Sotherly Hotels expects full-year funds from operations in the range of $1.20 to $1.28 per share, with...

  • Cracker Barrel posts 2Q profit Tuesday, 24 Feb 2015 | 11:58 AM ET

    LEBANON, Tenn. _ Cracker Barrel Old Country Store Inc. on Tuesday reported fiscal second-quarter profit of $47.2 million. Cracker Barrel expects full-year earnings in the range of $6.40 to $6.50 per share, with revenue in the range of $2.8 billion to $2.85 billion. Keywords: Cracker Barrel Old Country Store, Earnings Report.

  • ALBANY, N.Y.— Restaurant servers, hotel housekeepers and other tipped workers in New York will soon make $7.50 an hour before tips, a big raise for thousands of workers and a significant increase in labor costs for business owners. Currently, servers in New York make $5 per hour, compared to a minimum wage of $8.75. The old pair has holes; a significant problem in the...

  • Strong U.S. demand boosts Domino's revenue Tuesday, 24 Feb 2015 | 7:43 AM ET

    Feb 24- Domino's Pizza Inc's quarterly revenue jumped 14 percent, helped by strong demand in the United States and an increase in prices for ingredients it sells to franchisees. The second-largest U.S. pizza chain by store count said on Tuesday net income rose 7 percent to $48 million, or 85 cents per share, in the fourth quarter ended Dec. 28. Sales at rival Pizza Hut,...

  • Strategic Hotels & Resorts reports 4Q results Monday, 23 Feb 2015 | 5:13 PM ET

    CHICAGO _ Strategic Hotels& Resorts Inc. on Monday reported a key measure of profitability in its fourth quarter. The Chicago- based real estate investment trust said it had funds from operations of $44.2 million, or 17 cents per share, in the period. The average estimate of analysts surveyed by Zacks Investment Research was for funds from operations of 17 cents...

  • Darden Restaurants names Eugene Lee as CEO Monday, 23 Feb 2015 | 8:25 AM ET

    Feb 23- Darden Restaurants Inc, the parent of Olive Garden and LongHorn Steakhouse chains, said interim Chief Executive Eugene Lee would take over the job permanently, effective immediately.

  • Choice Hotels tops Street 4Q forecasts Friday, 20 Feb 2015 | 9:24 AM ET

    ROCKVILLE, Md. _ Choice Hotels International Inc. on Friday reported fourth-quarter profit of $25.3 million. Choice Hotels expects full-year earnings to be $2.14 to $2.21 per share. Choice Hotels shares have risen 11 percent since the beginning of the year.

  • Ahead of the Bell: Noodles & Co. Friday, 20 Feb 2015 | 9:10 AM ET

    NEW YORK— Shares of Noodles& Co. tumbled in premarket trading Friday as the restaurant operator said that its 2015 adjusted profit will now likely come in at the low end of its previous range. For 2015, Noodles& Co. said that it now anticipates adjusted earnings per share growth of about 20 percent. Analysts surveyed by Zacks Investment Research predicted a...

  • Will the Waldorf become NYC's hot new address? Thursday, 19 Feb 2015 | 11:52 PM ET

    All those pining after childhood stories of "the tippy-top floor" of New York's Plaza Hotel might soon get to recreate it a few blocks away at the Waldorf.

  • Wal-Mart wage hike seen pressuring Target, fast-food Thursday, 19 Feb 2015 | 8:40 PM ET

    Feb 19- Wal-Mart Stores Inc's wage hike will likely trigger a rethink on pay across the retail and fast-food sectors, with Target Corp one of the low-wage employers facing pressure to follow suit and pay workers more. Wal-Mart announced on Thursday it would lift its minimum U.S. wage to $9 an hour this year and $10 in 2016, raising the ante in a tightening labor...

  • Feb 19- Fast-casual restaurant chain operator Noodles& Co forecast 2015 adjusted profit that missed analysts' estimates, sending its shares down 25 percent in after-market trading. Noodles& Co's fourth-quarter profit also missed Wall Street's estimates, hurt by lower sales at its restaurants in the all-important holiday quarter. Net income rose to $3.5...

  • Fiesta Restaurant Group posts 4Q profit Thursday, 19 Feb 2015 | 4:39 PM ET

    ADDISON, Texas _ Fiesta Restaurant Group Inc. on Thursday reported fourth-quarter net income of $9 million, after reporting a loss in the same period a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share. Fiesta Restaurant Group shares have climbed 10 percent since the beginning of the...

  • Starwood founder: CEO switch addressed THIS concern Thursday, 19 Feb 2015 | 8:48 AM ET
    Barry Sternlicht

    Starwood Hotels founder Barry Sternlicht says the CEO change at the international hotel chain reflected a concern about lagging innovation.

  • Famous Dave's reports 4Q loss Thursday, 19 Feb 2015 | 8:21 AM ET

    MINNETONKA, Minn. _ Famous Dave's of America Inc. on Thursday reported a fourth-quarter loss of $2.5 million, after reporting a profit in the same period a year earlier. The Minnetonka, Minnesota- based company said it had a loss of 35 cents per share. For the year, the company reported profit of $2.9 million, or 40 cents per share.

  • Host Hotels reports 4Q results Thursday, 19 Feb 2015 | 6:15 AM ET

    BETHESDA, Md. _ Host Hotels& Resorts Inc. on Thursday reported a key measure of profitability in its fourth quarter. The average estimate of analysts surveyed by Zacks Investment Research was for funds from operations of 38 cents per share. Analysts expected $1.35 billion, according to Zacks.