Vol. 8 • No. 28 • July 19, 2010 - Print This Issue
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Vol. 8 • No. 28 • July 19, 2010, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: No Surprises 2Q
Not much has changed in the last quarter when it comes to the gaming industry so the scheduled quarterly earnings call should be uninteresting.
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WEEKLY FEATURE: Eye On Japan
Interest in one of Asia’s largest markets increases as Japanese legislators work to craft a casino bill acceptable to all. Interestingly, several pachinko operators, including Aruze’s Kazuo Okada (l.), could be major casino bidders.
Pequots’ Financial Problems Mount
$2 billion in debt has forced the Mashantucket Pequots, owners of Connecticut’s Foxwoods Casino Resort (l.), to end monthly distributions of casino revenues to 450 adult members, while the tribe misses a deadline on a $700 million bond.
Riviera Files for Bankruptcy
Riviera Holding Corp. has filed for bankruptcy after months of speculation. The company’s attorneys say a reorganization agreement has already been agreed to, and that the company’s Las Vegas and Colorado resorts will operate unaffected.
Casinos in Massachusetts May Wait a Year Says Governor
With the legislative deadline approaching to reach a deal between two versions of gaming expansion, one from the House and the other from the Senate, Massachusetts Governor Deval Patrick (L.) is pessimistic that a deal will be struck this year.
Wynn Tip Policy OK’d
After years of legal wrangling, Nevada Labor Commissioner Michael Tanchek has ruled that Wynn Las Vegas’ policy of redistributing tips among table games dealers and supervisors is legal.
New Philippines Official to Get Tough on Illegal Numbers
The new Interior Secretary for the Philippine government, Jesse Robredo (l.), is expected to crack down on the illegal numbers game jueteng, to the great relief of the powerful Catholic bishops.
Casino Study Planned for Israel Resort
Late last winter the Israeli tourism minister, Stas Meseznikov (l.), expressed a willingness to re-visit the idea of casino gaming paired with new conference center development for the resort city of Eilat. Now, the minister has announced a public commission that will study the effects of such a move.
Carcieri ‘Fix’ Uncertain
The unpopular Supreme Court decision that invalidated off-reservation efforts by tribes recognized after 1934 was expected to be remedied by Congressional action, but when that will come is anyone’s guess. Senate Indian Affairs Chairman Byron Dorgan (l.) wants it to be sooner, not later.