Vol. 8 • No. 42 • November 1, 2010 - Print This Issue
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Vol. 8 • No. 42 • November 1, 2010, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: Sounding the All Clear?
It may be too early to declare the war is over, but recent revenue reports have at least indicated that the bottom has been reached.
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WEEKLY FEATURE: Mid-Term Mayhem
While the results of the 2010 mid-term elections in the U.S. will have an impact on the direction of the Obama administration, gaming will also feel a real effect in many states and in the Congressional results. One of the most crucial races for gaming features the survival of Senate Majority Leader Harry Reid (l.).
Genting Breaks Ground in the Big Apple
And they're off. Malaysian gaming giant Genting has officially begun construction of Resorts World at Aqueduct racetrack in Queens. It will be the first gaming hall inside New York City. New York Governor David Patterson and Genting Chairman K.T. Lim smash cement blocks at the ceremony (l.). At the same time, a report by the inspector general finds major irregularities in the selection process that preceded the Genting victory.
Strong Reports From Las Vegas Sands Cause Surge
Higher-than-expected revenues in both Singapore and Macau last week gave gaming stocks with an Asian connection a boost, particularly Las Vegas Sands and Sands China that began the rush with their third quarter reports. Marina Bay Sands (l.) performed especially well.
€26 Million Project for Luxembourg Casino 2000
Luxembourg’s sole casino (l.) has been entertaining residents and visitors to the regional tax haven since 1983. The property is receiving a modern, multi-use addition designed to appeal to an upscale crowd.
Illinois Lawmakers May Expand Gaming After Election
Lame duck lawmakers in Illinois may further expand gaming in the state after the November 2 election, according to reports. And this even before the already approved VLTs are installed at state bars, restaurants and convenience stores. Governor Pat Quinn (l.) opposes the measure, as does his opponent in this week’s election.
Penn National: Swap Perryville for Laurel?
The CEO of Penn National Gaming says he would consider selling the operator’s Perryville, Maryland casino (l.) if necessary to launch a casino at Laurel Park racetrack.
Analysts Applaud Debt Reduction
MGM Resorts and Boyd Gaming are getting high marks on Wall Street for their ongoing efforts to reduce debt and raise profitability. MGM is looking to refinance debt accumulated with the building of CityCenter (l.).
GLOBAL GAMING BUSINESS PODCAST: Cathy Walker, President & CEO, Seneca Gaming
This week, the Global Gaming Business Podcast features an interview with Cathy Walker, the president and CEO of Seneca Gaming on the premier gaming operation in northern New York state.