Fri, Dec 12, 2008
The Illinois Gaming Board last week heard testimony for and against the three remaining contenders for the state’s 10th and last license. while we learn that Illinois Governor Rod Blagojevich’s (l.) political corruption indictment, which shook President-elect Barrack Obama’s transition last week, had a gaming angle,
Sun, Dec 21, 2008
This week, the Global Gaming Business Podcast features an interview with Shawn Ellis, the president of Ellis Gaming, which focuses on gaming consulting in Indian Country. Ellis got his start with the San Pascual tribe in California, where he worked with the Marnell Group to turn around a struggling casino. That has become his specialty these days, an important aspect during this economic downturn. Ellis Gaming includes many experts, in and out of gaming, who can provide marketing, financial and operational assistance to gaming operators. He spoke with Global Gaming Business Publisher Roger Gros in his office in Las Vegas in October.
Sat, Dec 13, 2008
The Mirage unveiled a new volcano last week, a $25 million project to replace the nearly 20-year-old Strip icon. The property has wanted to update the attraction for at least four years, and after several months of the volcano sitting lifeless, it was brought back to life in a storm of fire, water and smoke.
Sat, Dec 13, 2008
Robert A. Bittman, one of the longest-serving executives of leading slot manufacturer International Game Technology, will retire from his position as executive vice president of product strategy
Sun, Dec 14, 2008
UNITE HERE is one of the largest international unions. Representing hospitality workers in many cities, including gaming jurisdictions like Atlantic City and Las Vegas, UNITE HERE is also one of the most unusual union organizations in that it rarely gets along with other unions.
Sat, Dec 13, 2008
Australian casino operator Crown Ltd. last week announced it has raised over US$1 billion to finance a payback of debt that wasn’t due until 2010. At the same time, the company gained financing to finalize purchase of the Las Vegas-based American operators, Cannery Casinos.
Sat, Dec 13, 2008
When U.K.-based Gala Coral Group released its annual report to September 27 in the second week of December, the news was far from rosy. Revenue was down somewhat. EBITDA was down more. Cash flow was down by 20 percent. But cash on hand was up almost 50 percent on the previous year, to £149.6 million—roughly $223 million at current exchange rates. And especially in these times, cash is a good thing to have around.
Sat, Dec 13, 2008
In an effort to continue funding A$17 billion in public works projects, the state of Queensland in Australia will take an additional 10 percent tax from casino slot revenues. The move will raise the tax rate for Queensland’s four casinos to 20 percent of casino slot revenue for the properties in Cairnes and Townsville and to 30 percent for those in Brisbane and on the Gold Coast.
Sat, Dec 13, 2008
MGM Mirage, which has aggressively been courting the international hospitality business with deals in Dubai and China, is going back to its roots on a worldwide basis.
Sat, Dec 13, 2008
The fallout from the Washington Post and CBS’ 60 Minutes joint-investigative piece on cheating scandals at AbsolutePoker.com and UltimateBet.com has a number of people calling for regulation in the U.S. to prevent similar scams from being visited upon consumers in the future
Sat, Dec 13, 2008
Once there were four developers preparing to build state-owned regional casino resorts that would feed money into Kansas’s hungry budgetary maw, which faces $1 billion in red ink in two years. Now only one developer, and the smallest one at that, remains. A casino resort at the Kansas Speedway (l.) is questionable now that the Cordish Company has withdrawn its application for a state gaming license.
Sat, Dec 13, 2008
“The summer of 2009 is going to be extremely bleak,” says Ron Geary, owner of Ellis Park racetrack in western Kentucky. Due to new competition from tracks in Indiana—tracks that also allow slot machines—Geary fears his 87-year-old track, which was once owned by Churchill Downs, may not be around in 2010.
Sat, Dec 13, 2008
After failing last month to make a scheduled interest payment, the owner of two Atlantic City casinos has begun debt-restructuring negotiations with its lender. In a sign of deteriorating financials, Resorts International Holdings, which owns Resorts and the Atlantic City Hilton, has also informed employees that it will no longer match employee 401(k) contributions starting the first of the year.
Sat, Dec 13, 2008
Suffolk County, New York, legislators have appointed an 11-person task force to help the Shinnecock tribe find a site for gaming in the region.
Sat, Dec 13, 2008
Though tribal gaming revenues are expected to exceed those of revenues in states with legalized commercial gambling, tribal properties are also facing the same economic pressures other commercial properties are.
Sat, Dec 13, 2008
The 78-member Sycuan tribe of San Diego County has decided to back off from a new gaming compact it negotiated with California Governor Arnold Schwarzenegger that would have allowed it to expand to 5,000 slot machines.
Sat, Dec 13, 2008
Florida House Speaker Ray Sansom has appointed a committee to review the state's controversial gambling compact with the Seminole tribe.
Sat, Dec 13, 2008
U.K.-based gaming supplier TCS John Huxley has signed a five-year agreement with Holland Casino of the Netherlands to provide its Chipper Champ 2 automated chip sorter to the operator’s 14 casinos.
Sat, Dec 13, 2008
Sister slot manufacturers Atronic and Spielo announced the debut of the fully automated Alfastreet Roulette in Delaware racinos.
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