Sun, Dec 21, 2008
The sale of Treasure Island Hotel Casino in Las Vegas might have been surprisingly, but it could only be the first of many. MGM Mirage, which is struggling to fund CityCenter and control debt, some of which comes due in 2010, sold the iconic property on the Las Vegas Strip for $775 million to Phil Ruffin, the former owner of the New Frontier.
Sun, Dec 21, 2008
For those waiting with bated breath for the day when gaming revenues tick upward once again, global credit ratings agency Fitch Ratings has an answer: keep holding your breath, because gaming won’t recover until 2010. (The Fontainebleau, left, in Las Vegas should open just in time for the economy to rebound, according the Fitch Ratings.)
Sun, Dec 21, 2008
This week, the Global Gaming Business Podcast features an interview with Nigel Morrison, the CEO of SkyCity Entertainment Group, the largest gaming company in New Zealand.
Sun, Dec 21, 2008
Tribal council members of the Shingle Springs Band of Miwok Indians simultaneously cut a 30-foot-long ribbon spanning the casino’s main entry to open the Red Hawk Casino.
Sun, Dec 21, 2008
It’s been almost two years since the Grand Lisboa casino opened in Macau. Owned by Stanley Ho’s SJM, the Grand Lisboa has attracted more than 10 million visitors during since its opening. But last week Phase II debuted, including the property’s hotel.
Sun, Dec 21, 2008
The timing isn’t perfect, but Wynn Resorts opens its $2.3 billion Encore in Las Vegas on December 22.
Sun, Dec 21, 2008
THE NEXT STEPS: Cost cutting, layoffs and cancellations only go so far…
Sun, Dec 21, 2008
A golf resort on the Isle of Man could be adding a casino and a new aparthotel. That is the request recently submitted to the government planning commission by Mount Murray Hotel and Country Club Ltd.
Sun, Dec 21, 2008
Suspensions, deferments and cancellations have changed the role Tishman Construction Corp. is playing in the construction of MGM Mirage’s CityCenter in Las Vegas.
Sun, Dec 21, 2008
“A full-fledged VLT facility with 4,000 to 5,000 machines? That's economically infeasible. That’s just saturation.” So said New York state Assemblyman Gary Pretlow in response to a new proposal for VLTs at Belmont Park racetrack.
Sun, Dec 21, 2008
Going back to square one on the application process for running two-state owned regional casinos, the Kansas Lottery last week set the deadline at April 1, 2009 for applications to be submitted for Sumner and Wyandotte counties.
Sun, Dec 21, 2008
Racetracks have steadily been adopting slot machines, the revenue of which is pumped back into racing, but at the recent Symposium on Racing and Gaming in Tucson, Arizona, many questioned why slots are funding the faltering racetracks.
Sun, Dec 21, 2008
The flurry of interest among casino developers in Atlantic City’s former airport property, Bader Field, seems to have dissipated in the face of downturned revenues and stalled projects across the country,
Sun, Dec 21, 2008
The Hancock County Planning Commission in Mississippi held a public hearing last week to discus a proposed $150 million casino in Diamondhead.
Sun, Dec 21, 2008
Wagering of all kinds in Florida has trailed off as the economy continues its historic freefall. From July through October, parimutuel bets were down more than 17 percent compared to 2007, and slots were down 13 percent, says the state Department of Business and Professional Wagering.
Sun, Dec 21, 2008
Although the people who were for it—are still for it—and the people who were against it—are still against it, the straitening budget woes of Massachusetts are fueling talk once again of casinos.
Sun, Dec 21, 2008
Despite opposition from the Florida Supreme Court and House Speaker Marco Rubio, it may be too late to get rid of Las Vegas-style gaming in the state’s tribal casinos.
Sun, Dec 21, 2008
The leader of an influential teacher-lobbying group in Alabama last week called for reaching a compact with the state’s one gaming tribe, and use the resulting taxes to prevent school cuts that loom because of the recession.
Sun, Dec 21, 2008
Players Network announced last week that it has formed a partnership with the Association of Gaming Equipment Manufacturers (AGEM) and launched the "AGEM Virtual Marketplace."
Sun, Dec 21, 2008
In the midst of one of the toughest economic landscapes in recent history, more than 26,500 gaming professionals from 89 countries across the globe flocked to Global Gaming Expo (G2E) 2008 last month to see the latest products, participate in expert-led conference sessions and network with industry colleagues.
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