Vol. 9 • No. 50 • December 26, 2011 - Print This Issue
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Vol. 9 • No. 50 • December 26, 2011, Featured Articles, FANTINI'S FINANCE
FANTINI’S FINANCE: Goodbye and Good Riddance
Gaming stocks had a miserable year in 2011, with only three stocks showing an increase for the year. Why did that happen? And what does it mean for 2012? Depends on your strategies.
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WEEKLY FEATURE: DOJ Says Online Poker is Legal
In a ruling concerning the sales of lottery tickets online, the U.S. Justice Department says the 1961 Wire Act only applies to sports betting, leaving online poker—and most likely online gaming—in the clear. The American Gaming Association has urged Congress to act quickly now that this question has been clarified.
Fiji Awards Only Gaming License
The island nation of Fiji has awarded the sole casino gaming license to U.S.-based One Hundred Sands, Ltd. The company will develop a $290 million casino resort and convention center, together with Native American partners Snoqualmie Tribe and Seventh Generation LLC. Prime Minister Josaia Voreqe Bainimarama (l.) said it was the company’s tribal background that helped to make the decision, but the tribe involved is confused.
Testing In Massachusetts?
The shape of gaming in Massachusetts will largely be shaped by the will and reputation of newly appointed Chairman of the Massachusetts Gaming Commission, Stephen Crosby (l.). The new “czar” and his four fellow commissioners, yet to be named, will have nearly unlimited power in determining where and even if the three casinos authorized by the law will be built.
Philippines Levels Playing Field
The Philippines Amusement and Gaming Corp. and Chairman Cristino L. “Bong” Naguiat (l.) has agreed to hire an independent consulting firm to assure that all the regulations and stipulations that the developers agreed to are adhered to during the construction process for the Entertainment City being built in Manila.
No Irish Casino, No Hotel
The proposed €460 million Tipperary Venue project in Ireland may ultimately never be much more than a racetrack. Without a casino, the developer says, there will be no 500-room hotel.
Fertitta Buys Morton’s, Adds to Restaurant Portfolio
Landry’s Inc., one of the country’s strongest restaurant companies, has recently purchased Morton’s Restaurant Inc. for $117 million. Tilman Fertitta (l.), the billionaire CEO of Landry’s, which owns Golden Nugget casinos in Nevada and Atlantic City, will update the décor and menu and expand the Morton’s steakhouse brand in China. Morton’s is another high-end eatery in a portfolio that includes the Rainforest Café, McCormick & Schmick’s Seafood, Bubba Gump Shrimp and Vic & Anthony’s.
Nevada OKs Online Gaming Rules
The Nevada Gaming Commission and Chairman Peter Bernhard (l.) last week approved the rules and regulations drawn up by the state’s Gaming Control Board that will oversee the legalization of online poker or online gaming in the near future.
Echo Hawk OKs, Rejects Applications
Larry Echo Hawk (l.), assistant secretary of Indian Affairs, recently ruled on two applications for tribal gaming. He approved the Keweenaw Bay Indian Community’s request to move its gaming facility in Michigan, and sent back the application of the Cayuga Nation of New York to place land in trust for gaming purposes.
Game On
The first Pro League for video game players kicked off at Caesars Atlantic City recent, an event that combines casino games and video gamers. Thousands of gamers from all over the world attended the event
GLOBAL GAMING BUSINESS PODCAST: Salim Adatia, CEO of TST, a GLI Company
This week, the Global Gaming Business Podcast features an interview with Salim Adatia, the CEO of TST, a GLI Company on why the testing of online gaming technology is going to play a crucial role in the legalization of the new industry.