Vol. 9 • No. 28 • July 18, 2011 - Print This Issue
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Vol. 9 • No. 28 • July 18, 2011, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: Big Macau Numbers
Third quarter financial reports have emphasized the huge revenues being produced in Macau and brings up the question of how long can they be sustained.
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WEEKLY FEATURE: See You In September
Whether the Bay State will legalize casinos this year is still up in the air, with no agreement in sight between the governor and the two legislative kingpins. But talks will resume in September, with success hinging on the flexibility of the players, including Governor Deval Patrick and House Speaker Robert DeLeo.
Former MGM Chief Lanni Passes
Terry Lanni, who took MGM Resorts to new levels while he ran the company for a decade, passed away last week. Lanni retired in 2008 and spent the intervening years battling cancer. He will be remembered as a gaming visionary.
NIGC Says Chippewa-Duluth Contract Illegal
A recent Notice of Violation issued by the National Indian Gaming Commission claimed the lease and revenue-sharing agreement between Duluth, Minnesota and the Fond du Lac Band of Lake Superior Chippewa Indians does not comply with federal law. The tribe stopped paying the city in August, 2009.
Former PAGCOR Execs Charged
The new leaders of the Philippines Amusement and Gaming Corp. have charged more than 40 former company executives with “plunder.” Former Chairman Ephraim Genuino (seated) and former President Rafael “Butch” Francisco are charged with using PAGCOR funds for political campaigns.
U.K. Adopting Licensed Online Model
When it comes to online gaming, the U.K. is used to leading. But that nation is about to follow the examples of France and Italy and require online operators doing business with its citizens to be licensed in-country. The move could severely impact operators outside of the current white-listed jurisdictions.
Fate of Illinois Casinos Still in Governor’s Hands
The author of Illinois’s massive casino expansion bill wants to do something to force the state’s governor, Pat Quinn (l.), to either veto or sign the bill before long.
Tax Review Under Way in South Africa
The low-tax environment for casinos in South Africa’s Gauteng Province could be on the verge of changing. Operators who have invested there based on a 9 percent tax rate are not amused, including the owners of the Gold Reef Casino Resort (l.) in Johannesburg.
Support Builds for Japan Casino Bill
The movement to introduce casino gaming in Japan may have been helped or hindered by the earthquake and tsunami, depending on which arguments one feels carry the most weight. Either way, casinos are now being seen as inevitable.
Atlantic City Land Eyed for Casino Development
Although it’s a distressed market, a development company is bidding to be the third or fourth new casino project as it eyes the last and largest piece of land in Atlantic City.
GLOBAL GAMING BUSINESS PODCAST: Tony Rodio, President & CEO, Tropicana Atlantic City
This week, the Global Gaming Business Podcast features an interview with Tony Rodio, the president and CEO of the Tropicana Atlantic City, on the improvements to his property.