Vol. 8 • No. 43 • November 8, 2010, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: Investor Election
What do the results of last week’s mid-term elections in the U.S. mean to investors? In general, there’s money to be made!
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WEEKLY FEATURE: Finding Fiji
The government of Fiji is looking for someone to step up and build and operate a casino in this South Pacific tourist paradise. Any interested parties will have to consider the potential controversy they could face, given Fiji’s complicated stature in a couple of major areas.
CityCenter Continues to Dog MGM Resorts
Now that one of the leading banks that originally financed its CityCenter project has sold its share of the debt, MGM Resorts must refinance $1.8 billion by next year or risk default. Nancy Rubin’s “Big Edge” sculpture in front of the Vdara Hotel (l.).
PAGCOR Under Fire Again
Revelations that the Philippine gaming company acquired more than 60 condos under the leadership of former chairman, Efraim Genuino, draws the attention of a powerful senator, Miriam Defensor Santiago (l.).
New Leadership
In addition to the general public, election day came for two major gaming tribes last week who had to decide on new leadership. Ben Shelly (r.), president-elect of the Navajo tribe, celebrates with his running mate, Rex Lee Jim.
Butera Leaves Tropicana, Joins Foxwoods
Scott Butera has resigned as president of Tropicana Entertainment, the company owned by Carl Icahn, to joined Foxwoods Resort & Casino as the president and CEO. Butera, an expert in distressed companies, is expected to bring the struggling property back to prominence.
Illinois Legislature Mulls Racino at Arlington Park
A lame duck legislative session in Illinois could yield expanded gaming, which could include a racino at Arlington Park (l.).
New Jersey Considers Exchange Wagering
New Jersey legislators are considering bill introduced by Senator Ray Lesniak, which would create a new form of wagering in hopes to boost revenues at the racetracks.
Wynn Visits India
Like rival Sheldon Adelson, Steve Wynn is eyeing India for possible casino resorts. He visited the country last week and respectfully suggested the integrated resorts would increase tourism in the south Asia nation.
Louisiana Eyes Last Gaming License
Competitors are Creative Casinos, St. Gabriel Downs and Penn National in Lake Charles and New Orleans in competition for the final riverboat gaming license. L’Auberge du Lac (l.), the Pinnacle Entertainment property in Lake Charles, may be getting more competition.
GLOBAL GAMING BUSINESS PODCAST: Mark Giannantonio, President, Tropicana Atlantic City
This week the Global Gaming Business Podcast features an interview with Mark Giannantonio, the president of the Tropicana in Atlantic City, on his property’s performance since billionaire Carl Icahn took it over less than a year ago.