Fri, Oct 09, 2009
A Miami bankruptcy judge ruled last week that an independent examiner will oversee the sale of Fontainebleau Las Vegas. Gaming company Penn National recently bid on the property and is considered the “stalking horse” at $300 million.
Fri, Oct 09, 2009
Despite efforts by California’s Governor Arnold Schwarzenegger to postpone a court order until he can appeal it in February, the Ninth Circuit Court of Appeals last week ordered the California Gambling Control Commission to begin issuing over 10,000 slot machine licenses that the state had maintained it didn’t have to issue. Fantasy Springs in Indio (l.) was one of the first to apply.
Fri, Oct 09, 2009
Bankruptcy judge tells opposing sides to work out a deal to avoid further litigation; Donald Trump and Beal Bank offer additional $14M to bondholders, with Trump Marina (l.) up for sale.
Fri, Oct 09, 2009
Winning streak hits three months as Macau gaming revenue increases after a long decline, benefitting operators like Lawrence Ho (l.), but jobs are still down.
Fri, Oct 09, 2009
With tight regulations and competition from other jurisdictions, the attraction of VIPs to the two Singapore casinos has been regarded as something of a crapshoot. But clarity is beginning to emerge as the casinos near completion, as Marina Bay Sands adds its topside Sky Park (l.).
Fri, Oct 09, 2009
George Skibine, a temporary replacement, takes the chairman’s office at the National Indian Gaming Commission, replacing Phil Hogen, who retired last month after six years on the job.
Fri, Oct 09, 2009
Operators are up in arms over a state House bill that would raise the tax on proposed table games to 34 percent, impose $20 million license fees for each casinos, and change the rules for resort casinos.
Fri, Oct 09, 2009
Now Senator Byron Dorgan’s bill to “fix” the U.S. Supreme Court’s “Carcieri” decision has a friend: a companion bill by Oklahoma Rep. Tom Cole (l.) , introduced last week.
Fri, Oct 09, 2009
This week, the GGB Podcast features an interview with Bob Faiss, a partner with Lionel Sawyer & Collins, Las Vegas, and one of the leading gaming attorneys in Nevada and all the gaming industry.
Fri, Oct 09, 2009
In a bid to relax the Mexican gaming laws, a group of gaming manufacturers has joined with operators in an attempt to permit Class III gaming devices at the nation’s gaming halls.
Fri, Oct 09, 2009
Referendums are never a sure thing—just look at what happened in Taiwan last month—and in Ohio, casino votes are surely a toss up.
Fri, Oct 09, 2009
The second annual Eastern European Gaming Summit and Balkan Entertainment & Gaming Expo reflects the region’s economic challenges and how operators plan to address them.
Fri, Oct 09, 2009
Resorts World outside of Manila gives company a taste of the Philippine market while it considers a $1 billion investment in PAGCOR’s Entertainment City in downtown Manila.
Fri, Oct 09, 2009
Forces opposed to the casino ships of Goa, India seem to be trying to have at least one of the ships declared unsafe and unfit to carry its designated passenger load.
Fri, Oct 09, 2009
The history of gaming operator Gala Coral reads like a chapter on financial practices of the past decade. Born in a management buy-out, raised on ambitious acquisitions and ultimately owned by a private equity consortium, the group is likely to end half in the hands of lenders.
Fri, Oct 09, 2009
Rank has been operating the casino at the Ricoh Arena since acquiring the business from former owner Isle of Capri last April. Now, six months later, the operator is throwing a party to mark a successful refurbishment and launch the completed product.
Fri, Oct 09, 2009
The ruling party in Poland continues to draw heavy fire from the Opposition for alleged lobbying efforts on behalf of commercial gaming interests.
Fri, Oct 09, 2009
Questions about the relative value of two parcels of land have been raised in Hungary. One parcel is intended as the site of a future lakeside, mixed-use resort with casino.
Fri, Oct 09, 2009
The Hungarian government wants to establish new regulations on poker. Expected to be included in the effort is a tax rate for poker played in clubs and casinos.
Fri, Oct 09, 2009
A new player recently tried but failed to make a big entrance into the increasingly active Latin American market. Undaunted, the newcomer bounced back almost immediately with other deals and prospects.
Fri, Oct 09, 2009
Ontario Lottery Corporation blames global recession for revenue slide at its five Canadian properties; Caesars Windsor reportedly took the biggest hit with losses of $55 million; power plant acquisition also raises eyebrows
Fri, Oct 09, 2009
Australia-based casino operator Crown has had to suffer through quite a few disappointing gaming investments in the recent past. Now, opportunity in the form of a piece of prime but surplus real estate in Melbourne could bring the company better news.
Fri, Oct 09, 2009
The pro-gaming premier of Bermuda, Ewart Brown (l.), recently touched off an anti-gaming explosion when, during a BBC interview, he said that gaming could become a primary source of revenue if the off-shore reinsurance industry is blocked by the U.S.
Fri, Oct 09, 2009
California’s gaming tribes have a lot of influence in the legislature. That’s why it will be interesting to follow the fortunes of a proposal that has gaming tribes lined up against each other: the legalization of online poker.
Fri, Oct 09, 2009
U.S. House Financial Services Committee Chairman Barney Frank is leading the call to delay the implementation of the Unlawful Internet Gambling Enforcement Act.
Fri, Oct 09, 2009
After three years of residing at a Missouri hotel on house arrest, former BetOnSports CEO David Carruthers has withdrawn his guilty plea days before being sentenced.
Fri, Oct 09, 2009
When France announced it was backing away from its monopoly system for online gaming, skeptics wondered just how much distance the government would actually put between itself and its traditional operators. A new amendment is being seen as a sop to the nation’s existing monopolies.
Fri, Oct 09, 2009
Bidders for Aqueduct slots are holding their breath as New York Governor David Paterson ponders pivotal choice for racino operations at ‘Big A;’ news reports put SL Green and Steve Wynn at the head of the pack
Fri, Oct 09, 2009
The Pennsylvania Gaming Control Board filed a complaint against Pittsburgh’s Rivers Casino demanding payment of the first of 30 payments due to fund a new hockey stadium.
Fri, Oct 09, 2009
As CityCenter struggles to close on its condominium residences, parent company MGM Mirage has cancelled a debt exchange offer that drew little interest from investors.
Fri, Oct 09, 2009
Baltimore City Entertainment and Penn National grow their plans for casinos in Baltimore and Perryville.
Fri, Oct 09, 2009
The Massachusetts legislature is starting to seriously study casino gaming. It must be serious, or else ten legislators wouldn’t be threatening to withhold their votes if their Western region isn’t guaranteed a casino.
Fri, Oct 09, 2009
The recession has quelled casino operators’ urge to innovate—these days, gaming companies are doing all they can just to survive the storm. Boyd Gaming’s Echelon is (l.) one of those projects on “hold.”
Fri, Oct 09, 2009
Last week backers of Issue 3, which would amend the state constitution to allow four regional casinos in Ohio’s largest cities, shot holes through several claims made by opponents, including attacks on how much money the casinos would raise, and whether there are guarantees that they will be built where proponents say.
Fri, Oct 09, 2009
Rhode Island House Speaker William J. Murphy (l.) tells public now is the time to expand gaming and ward off future competition from Massachusetts, which is considering full-scale casinos. An estimated 40 percent of Rhode Island gaming revenues come from Massachusetts residents who visit to play.
Fri, Oct 09, 2009
Despite bankruptcy, company plans ambitious development in suburban Baltimore track.
Fri, Oct 09, 2009
New Hampshire’s governor has commissioned a study on the potential effects of expanded gambling in the state, while a gaming expert tells New Hampshire that full-blown gaming halls are better than racinos as competition grows.
Fri, Oct 09, 2009
Officials of Illinois’ largest county will strengthen a ban already in place on video gambling, superseding a state law that permits video poker in bars.
Fri, Oct 09, 2009
State Rep. Tom Hackbarth wants to legalize slot machines at race tracks in order to pay for a new stadium for the Minnesota Vikings.
Fri, Oct 09, 2009
Steve Wynn has cleared the air with New York’s Hotel Trades Council, which represents 30,000 workers. The deal may help Wynn win a bid to build a racino in New York.
Fri, Oct 09, 2009
Neil Bluhm (l.) heralds “aggressive, optimistic” plan for casino that would be the final casino under existing law in Illinois.
Fri, Oct 09, 2009
Station Casinos has won the latest round in a case over employee wages. A judge has ruled that the suit be stayed due to Station’s bankruptcy.
Sat, Oct 10, 2009
In a ceremony, MGM Mirage presents symbolic checks to community orgainzations that highlight the participation of the company and its employees. Total giving surpassed $7 million.
Fri, Oct 09, 2009
The thought that the Department of the Interior might rethink its position about the “commutability” of Indian casinos has some tribes very happy, and some Western Senators very concerned.
Fri, Oct 09, 2009
This is the second year that casino revenues in California have dropped, but overall the state’s gaming industry looks strong and a report issued by Fitch Ratings expects the dark days to start to brighten next year.
Fri, Oct 09, 2009
Though many Americans talk about going green, the Shakopee Mdewakanton Sioux Community is putting its money where its mouth is, using casino revenues to invest in alternative energy sources.
Fri, Oct 09, 2009
A $30 million verdict against Harrah’s Entertainment and for a Southern California gaming tribe has been sent back to the San Diego court whence it came for a do over.
Fri, Oct 09, 2009
Two years ago the Yocha Dehe Wintun Nation announced that it was going to triple the size of its resort and build a ten-story hotel. Last week it announced that it was cancelling those plans due to the recession.
Fri, Oct 09, 2009
Pala said it has installed five EZ Baccarat units and five EZ Trak units from DEQ Systems in order to increase the speed of baccarat games.
Fri, Oct 09, 2009
The shareholders of slot manufacturer International Game Technology have approved a stock option exchange program that will allow employees to exchange old stock options for new ones.
Fri, Oct 09, 2009
Forbes list drops gaming magnates, such as Kirk Kerkorian (l.), as gaming recession impacts valuation of their wealth.
Fri, Oct 09, 2009
UNITE-HERE paid freight for non-union legal work in Atlantic City that challenged a non-union casino project, according to documents.
Fri, Oct 09, 2009
Steve Wynn’s newest boutique offers resort dining experiences to go, allowing shoppers to take home the utensils and ingredients that bring Wynn’s restaurants to life.
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