Vol. 7 • No. 45 • November 30, 2009 - Print This Issue
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Vol. 7 • No. 45 • November 30, 2009, Featured Articles, ASIAN GAMING
Las Vegas Sands Falls Short of Lofty IPO Goals
The Asian IPO by Las Vegas Sands has come in a the low range of expectations, attracting more than $2.5 billion, but failing to reach the hoped-for level of $3.4 billion. Proceeds will be dedicated to paying down debt and re-starting construction on the LV Sands Cotai Strip development in Macau, according to Chairman Sheldon Adelson.
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Icahn Stalking Horse for Fontainebleau
Gaming industry veteran Carl Icahn recently became the stalking horse bidder in the Fontainebleau bankruptcy case after outbidding Penn National Gaming for the troubled Las Vegas property.
Dubai Default
The financial problems of Dubai World will impact the fortunes of the banking industry much more so than it will the gaming industry, where the company is half-owner of MGM Mirage’s CityCenter, scheduled to open next month on the Las Vegas Strip.
Tribe Tables Catskills Project
Despite hopes that Obama will soon OK off-reservation casinos, St. Regis Mohawks vote against moving forward with Sullivan County resort. News sends Empire Resorts stock tumbling. The company currently operates a small slot parlor at Monticello Raceway.
G2E Honors
Three gaming legends were honored at G2E last week, starting with the son in a father-son combination, Michael Gaughan, who joins is father Jackie Gaughan in the prestigious group. Others receiving accolades at the show were MGM Mirage’s Alan Feldman and Wynn Design & Development’s Roger Thomas. And don't miss the link to photos from the industry's most comprehensive conference.
Plan ‘B” Considered as Carcieri Fix
The Interior Department’s deputy assistant secretary for Indian affairs, George Skibine (l.), says alternatives are being examined in the event that bills being considered to “fix” the Supreme Court’s Carcieri decision are not successful.
Bulgarian Battle
After the Bulgarian legislature limits taxation on the casino industry to 12 percent, Prime Minister Boyko Borisov (l.) imposes his preferred 15 percent figure.
GLOBAL GAMING BUSINESS PODCAST: Bob Boughner, President & CEO, Borgata in Atlantic City
This week, the Global Gaming Business Podcast features an interview with Bob Boughner, the president and CEO of the Borgata Casino Hotel & Spa in Atlantic City, on the future of the city and the difficulties it faces because of surrounding competition, the economy and a partial smoking ban.
FANTINI’S FINANCE: The Final Word
G2E may have been a seminal moment in the industry for the next few years. Optimism and morale have improved over the last couple of shows, while technology seems to be the driving force.
Beal Bank Wants Piece of Trump Casinos
Struggle for control of the Trump Atlantic City casino empire is not over after all, says poker player and Trump pal Andy Beal (l.). He plans to challenge the bondholders’ plan to take over the company, which was endorsed by Donald Trump two weeks ago.