Sat, Feb 04, 2012
In another attempt to launch a public offering, Caesars Entertainment last week announced that it would sell almost 2 million shares of stock in an effort to return to the public sector after being taken private in 2008. Chairman Gary Loveman and other insiders will sell additional shares if the IPO is successful.
Sat, Feb 04, 2012
The Hollywood Casino at Kansas Speedway opened last week, the third casino to debut in the suddenly lucrative Kansas market. The $411 million casino is the first new casino in the Kansas City market in 15 years and is expected to have significant impact on the existing casinos there.
Sat, Feb 04, 2012
A new master plan for Atlantic City has been approved by the Casino Reinvestment Development Authority. The ambitious roadmap envisions a cleaner, safer and more ecologically friendly city, with state-of-the-art attractions incorporating light, sound and wind, as well as an upgrade to urban spaces to transform the resort town into a year-round, world-class destination.
Sat, Feb 04, 2012
Wynn Resorts last week appealed to a Nevada judge to have a lawsuit brought by former vice chairman and current Wynn board member Kazuo Okada dismissed, citing SEC regulations and corporate transparency.
Sat, Feb 04, 2012
Even before a bill is filed in conjunction with Governor Steve Beshear’s (l.) proposal to expand gaming via a statewide referendum, battle lines are being drawn.
Sat, Feb 04, 2012
Atlantic City’s poorest performing casino, ACH, is asking members of Local 54 of UNITE-HERE to accept pay cuts and other concessions in its new one-year contract. Citing the dire economic outlook, the casino, formerly the Atlantic City Hilton, say reducing labor costs is essential for survival. Local 54 President Bob McDevitt disagrees, and is fighting the concessions.
Sat, Feb 04, 2012
Before the Malaysian casino company builds a $4 billion convention center (l.) next to Aqueduct Racetrack, it wants some guarantees from the state government.
Sat, Feb 04, 2012
In an ongoing effort to refinance its massive debt, MGM Resorts last week announced a proposed amendment to a $3.5 billion credit facility that would extend the terms of repayment and give the company more breathing room.
Sat, Feb 04, 2012
Workers pouring concrete at the Cincinnati Horseshoe Casino in Ohio last week caused the floor of the second story to collapse. They are back to work now, but the cause of the accident is under investigation.
Sat, Feb 04, 2012
Bills to allow casinos in Saint Croix, St. Thomas and St. John are being discussed by the Senate Committee on Economic Development. But a proposal for a casino in Christiansted has found local opposition and might violate the 1995 Casino and Resort Control Act.
Sat, Feb 04, 2012
Although it has been a few weeks since Governor Pat Quinn and the legislature have clashed over gaming expansion in Illinois, the issue remains a hot topic, especially in some primary elections.
Sat, Feb 04, 2012
New Hampshire, long a hold-out against any kind of gaming, in part because of its quirky, 400-member House that makes it very difficult to get a majority on any proposal, is looking good for passing gaming legislation, sponsored by Senator Lou D’Allesandro (l.), that would authorize two large casino resorts, in Hudson and Rockingham Park racetrack.
Sat, Feb 04, 2012
Eight properties owned by Caesars Entertainment have outsourced their housekeeping and public area services to The Service Companies, an industry leader in hotel cleaning. The cost-cutting measures have irked some employees, though TSC it will benefit everyone in the long run.
Sat, Feb 04, 2012
A poll conducted by the Washington Post shows that most state residents are in favor of the idea of expanding the permissible slot locations to include Prince George’s County.
Sat, Feb 04, 2012
Sin City is getting “back to business” with strong showings in the convention business. 2012 will be better than 2011, according to resorts and the Las Vegas Convention and Visitors Authority.
Sat, Feb 04, 2012
Competition continues to heat up for the two commercial casino licenses available in Massachusetts. In western Massachusetts, MGM heralds the hiring of a “green” architect with MGM executive Bill Hornbuckle (l.) at the helm, while Boston attempts a maneuver that will guarantee the casino be sited inside the city and not in the surrounding suburbs.
Sat, Feb 04, 2012
A report from the University of Nevada, Las Vegas says the pre-recession boom years put America’s casino companies in hock at an unprecedented level.
Sat, Feb 04, 2012
A casino-hotel that would provide 3,800 jobs and generate $156 in annual revenue would be welcome in Hardeeville, South Carolina, said Mayor Bronco Bostwick. The development would include a 400-room hotel, casino, championship golf course and a 1,500-seat multipurpose events center.
Sat, Feb 04, 2012
The contracts for some 60,000 casino employees in Las Vegas will expire this summer. Negotiations could be testy with the slow economic recovery.
Sat, Feb 04, 2012
A new study indicates electronic pulltabs could contribute $72 million annually—not the earlier projection of less than $40 million—toward funding a new $920 million Vikings stadium in Minnesota. The state’s portion would be $340 million.
Sat, Feb 04, 2012
Penn National Gaming said it is moving forward on a new $100 million casino in downtown Sioux City, Iowa, to replace the Argosy Casino riverboat. The major stumbling block is that the owners of the gaming license recently sued Penn National in federal court, claiming Penn National will not let them shop for a possible new partner.
Sat, Feb 04, 2012
As Nebraskans pour millions of dollars into casinos in Council Bluffs, Iowa, the state legislature considers a bill that would let voters decide if they want casino gaming. Legislators would determine where casino revenues would be directed.
Sat, Feb 04, 2012
A proposed bill to build a full-fledged casino in Rhode Island’s Quonset Point community has sparked a debate among state lawmakers. Rep. Joseph Trillo believes the casino would counter competition in Massachusetts, while Senate Majority Leader Dominick Ruggerio opposes the plan one the grounds that it would curb economic growth in the area.
Sat, Feb 04, 2012
The Indiana Senate is considering a bill, recently approved by the House, that bans smoking in restaurants, followed by bars 18 months later. The bill exempts casinos.
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