Tue, Dec 09, 2008
Two major casino operators, Harrah’s Entertainment and Station Casinos, that went private in 2007 are now looking at restructuring their debt as the economic climate continues to worsen. Just weeks after opening its latest casino, Aliante Station in North Las Vegas (left), Station Casinos is facing possible bankruptcy protection.
Tue, Dec 09, 2008
In what is becoming something of a December ritual, the legislature of Mexico will once again fail to find the time this session to introduce a bill to revamp the country’s gaming laws. The earliest that the bill would be introduced is in the next legislative session, between February and April 2009.
Wed, Dec 10, 2008
At last month’s Global Gaming Expo, the Association of Gaming Equipment Manufacturers held a press conference with a number of notable executives on-hand to announce the beneficial economic and social impact gaming suppliers have on the communities in which they work.
Wed, Dec 10, 2008
The old saying, which is getting a lot of use these days, as in every 30 seconds on CNBC, is that the stock market looks forward six months. So, if the economists predicting the recession will bottom in mid 2009 are correct, now is the time to buy stocks.
Tue, Dec 09, 2008
For the first time since Chairman Mao banned it in 1949, horse racing has returned to China. A new racetrack opened in Wuhan last week, the first time gambling has been allowed in China outside of national lotteries, casinos and horseracing in Macau, and horseracing in Hong Kong.
Tue, Dec 09, 2008
In Rwanda, the new Kigali Casino was supposed to open at the end of October. However, a delay in the shipping of gaming tables pushed back the start date and it was mid November before the tables arrived.
Wed, Dec 10, 2008
Under the current French presidency, the European Union is seeing a movement by some members to find a “common approach” to the regulation of cross-border online gaming. But getting all 27 member states to go along with one idea is challenging, to say the least.
Wed, Dec 10, 2008
Despite increasing pressure from international organizations like the European Union and the World Trade Organization, the U.S. took the final steps toward implementation of the Unlawful Internet Gambling Enforcement Act last week when the Treasury Department issued its final rules necessary to enact the contentious legislation.
Wed, Dec 10, 2008
Another sign of gaming’s dire straits: Mesquite, Nevada-based Black Gaming has decided to temporarily shut the doors of its Oasis casino in order to raise cash to pay off a hefty loan.
Wed, Dec 10, 2008
Racinos continue to be seen as a way to pump up the horse racing industry. In the latest example, Ohio Republican Rep. Louis Blessing says he will introduce legislation next year to allow either video gaming machines at Ohio’s seven racetracks or the establishment of casinos in the state.
Wed, Dec 10, 2008
Two cash-strapped Atlantic City casinos, unable to pay their bills on time, may have to seek Chapter 11 bankruptcy protection. For Donald Trump, it could mean a third visit to bankruptcy court.
Wed, Dec 10, 2008
The legendary Fitzgeralds casino in downtown Reno has been teetering on the brink for a while now, undergoing ownership changes and a number of planned redevelopments.
Wed, Dec 10, 2008
A lawsuit filed by the state of Alabama against the Department of the Interior is premature because so far the department has yet to issue an order that would allow the only recognized Indian tribe in the state to expand its gaming operations.
Wed, Dec 10, 2008
A federal judge has reversed the National Indian Gaming Commission on its decision to allow the Ponca Tribe of Nebraska to build a casino in Carter Lake, Iowa.
Sun, Dec 21, 2008
This week, the Global Gaming Business Podcast features an interview with Bob Sturges, the president and CEO of Nevada Gold, a longtime casino executive who has righted the ship at his new company. Sturges took over Nevada Gold two years ago and has spent that time divesting the company of non-gaming assets, including a string of Pizza Hut restaurants in Brazil. Although down to only one operation in Cripple Creek, Colorado, and an Indian gaming contract, Sturges believes Nevada Gold is positioned perfectly as a buyer of small- to medium-sized gaming operations in the U.S. and beyond. He spoke with Global Gaming Business Publisher Roger Gros from his office in Dallas in September.
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