Vol. 8 • No. 17 • May 3, 2010, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: Gaming’s New Normal
In addition to the new reality of operating following the “great recession,” increased competition is altering the ways operators now do business, and it will mean dramatic changes.
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WEEKLY FEATURE: More Gambling In Illinois
Illinois lawmakers are informally looking at allowing up to 1,200 slot machines in the state’s six racetracks in preparation for introducing a bill soon. And this latest move comes just months after VLTs were approved for state taverns and restaurants with the approval of local governments. Just that much more pressure on the state’s long-suffering casinos, like Grand Victoria in Elgin.
Labor Restrictions Could Slow Macau Expansion
Limits on the number of foreign construction workers that a company could hire could make it more difficult for companies to develop in Macau. While the new regulations could affect construction on parcels 5 and 6 of the Las Vegas Sands Cotai Strip development, Galaxy Entertainment’s Galaxy Macau project (l.) should not be impacted.
Foxwoods License at Risk in Philadelphia; Wynn is Back
The Pennsylvania Gaming Control Board takes the first steps to pull the Foxwoods Philadelphia license as Steve Wynn (l.) hints he still likes the state. Just because the casino magnate pulled out of Foxwoods doesn’t mean he’s uninterested in a casino there.
Stevens Named to Head NIGC
Tracie Stevens, a member Washington’s Tulalip tribe, was named as chairwoman of the National Indian Gaming Commission last week, filling all three seats for the first time in more than two years.
Shinnecocks Eye Sports Arena
With federal recognition imminent, the Long Island tribe weighs the pros and cons of locating a casino in an old sports arena in Nassau County, New York (l.).
Boyd, Station Casinos Clash
Boyd Gaming has withdrawn its objections to Station Casinos’ bankruptcy reorganization plan, choosing instead to focus on the company’s auction of some of its assets, but the decision came after a week of verbal tangling between the two companies. Sunset Station (l.) would remain under Station control.
GLOBAL GAMING BUSINESS PODCAST: Lloyd Levenson, Partner, Cooper Levenson, Atlantic City
This week, the Global Gaming Business Podcast features an interview with Lloyd Levenson, a partner with the Cooper Levenson law firm in Atlantic City, on his role in the upcoming East Coast Gaming Congress, scheduled for May 24 & 25, 2010 at the Atlantic City Convention Center.
Shuffle Master CEO Steps Down
Timothy Parrott will no longer serve as Shuffle Master’s CEO due to medical issues. Non-executive Chairman of the Board Phillip Peckman will fill in as interim CEO until a new CEO is found.
Three Bid for St. Louis Casino
Although it’s not a done deal that the license that once belonged to the President Casino will wind up in St. Louis, the city has put out an RFP for casino proposals. Three companies responded, including the St. Louis-based Isle of Capri and Jim Koman (l.), who is part owner of the Casino Queen in East St. Louis.
Push-Pull for Bahamas Law Change
Support from the ruling party and Prime Minister Hubert Ingraham (l.) combined with pressure from Florida’s new casino expansion plans could move the Bahamian government to change the law and finally grant citizens and residents of the Bahamas the right to gamble—within certain parameters, depending on their legal status.