Fri, Jan 30, 2009
It’s taken a while, but the dynamic of bad economy = legalized gaming is starting to gather speed. As tax revenues plummet and unemployment rises, several states are considering various forms of gaming, starting with a state that has been resistant to gaming expansion for years: Texas.
Fri, Jan 30, 2009
A group of Macau residents is complaining that Las Vegas Sands has directed profits from its Macau operations to other international developments. Group spokesmen cite the LVS' ongoing Singapore development while the Cotai Strip projects (l.) have ground to a halt.
Fri, Jan 30, 2009
Just a week after the legalization of casinos on the Penghu Islands in the Straits of Taiwan, opponents of the legislation gathered to complain that that government was “unfair” and didn’t provide suitable alternatives. The accused of the government of being biased in favor of casinos.
Fri, Jan 30, 2009
Revel Entertainment laid off almost half of its construction workers last week while it continued to seek more financing for the project. Revel CEO Kevin DeSanctis (l.) would not say how much financing the company needs.
Fri, Jan 30, 2009
President Barack Obama hasn’t announced any nominees for Bureau of Indian Affairs, but opposition is already forming behind a potential candidate, Larry EchoHawk (l.)
Fri, Jan 30, 2009
It was once a given that a casino resort would generate cash flow exceeding 20 percent of the cost to build it. Resorts were relatively inexpensive to build and they quickly filled with gamblers in a world where demand exceeded supply. Times have changed.
Sun, Feb 01, 2009
This week, the Global Gaming Business Podcast features an interview with Marilyn Winn, the president of the Rio, Bally’s and Paris hotels in Las Vegas on the tough economic times on the Strip.
Fri, Jan 30, 2009
Because no one submitted a bid to build and operate a state-owned casino in Kansas’s southeast zone by the January 21 deadline, it was automatically extended to April 21.
Fri, Jan 30, 2009
MGM Mirage, the world’s second-largest casino operator, signed a deal with Ho Tram Project Company to brand and manage one of five resorts planned for the Ho Tram Strip project in Vietnam’s southern Va Ria-Vung Tau Province. A rendering a hotel on the Ho Tran Strip is shown at the left.
Fri, Jan 30, 2009
On January 20, the Fort Erie Economic Development and Tourism Corp. unveiled its plan to pay $35 million for the historic but financially unstable Fort Erie Race Track. The corporation wants to hand operations to a not-for-profit organization that would run the facility.Current owner Nordic Gaming has agreed to the deal, but wants a $3.2 million down payment to seal the deal. That demand could derail the whole project.
Fri, Jan 30, 2009
Bolivia’s National Lottery director says he’s worried about the proliferation of illegal Russian casinos. “The current system is a chaos,” says Carlos Bruno. “Once you obtain a license, there’s no limit to indicate how many casinos you can open.”
Fri, Jan 30, 2009
Great Canadian Gaming’s growth exceeded its revenues, and now hours and staff at many properties have been cut.
Fri, Jan 30, 2009
A dispute with roots in South Africa’s troubled past is pitting casino developer Sun International against the Mpondo nation’s King Sigcau.
Fri, Jan 30, 2009
The announcement that the Wyndham Nassau Resort and Crystal Palace Casino will close for two months during the slow summer season—between August 17 to October 5—has sparked more interest in gaming reform in the Bahamas.
Fri, Jan 30, 2009
Higher taxes and political restrictions are putting the squeeze on casinos in Argentina, even during a time of expansion.
Sat, Jan 31, 2009
The state of New Hampshire, which is already struggling to deliver services without doing the unthinkable—instituting a statewide income tax—ran into more revenue trouble thanks to the Unlawful Internet Gambling Enforcement Act.
Sat, Jan 31, 2009
Looking for any possibly way to settle an ongoing dispute with the United States over its prohibition of online gaming, Mark Mendel, lead attorney for Antigua said he is hoping to at least gain some access to the prized U.S. market.
Fri, Jan 30, 2009
Commercial lender Column Financial Inc. wants to foreclose on Resorts Atlantic City, saying the casino’s owner is behind in payments on a $360 million loan. But first, the lender wants the state Casino Control Commission to act as bill collector. It has also said it may conduct a "cash sweeps" at Resorts for money to satisfy the debt.
Fri, Jan 30, 2009
Nevada gaming regulators unanimously approved the sale of Cannery Casino Resorts to Crown Ltd. January 22. The Australian-based Crown will pay $1.8 billion for Cannery in an all-cash transaction, which includes the recently opened Eastside Cannery in Las Vegas (l.).
Fri, Jan 30, 2009
Operators of the 33 casinos in Deadwood, South Dakota, are protesting a plan by Governor Mike Rounds to increase the licensing fee on slot machines by 50 percent.
Fri, Jan 30, 2009
The slumping gaming industry in Nevada has prompted some, including Las Vegas Mayor Oscar Goodman, to call for a discussion to change the state’s laws regarding legal brothels.
Fri, Jan 30, 2009
Sheldon Adelson and other executives with the Las Vegas Sands Corp. were named in a lawsuit alleging they failed to manage the company properly and are responsible for low value of the company’s stock.
Fri, Jan 30, 2009
Of 41 East Coast casinos with almost 110,000 slot machines, Mohegan Sun won more revenue overall—$843 million—than its competitors last year. It was followed in the rankings by Foxwoods with $728 million; Empire City at Yonkers Raceway with $486.5 million; Harrah’s Atlantic City with $446.5 million; and Charles Town Races with $443 million.
Fri, Jan 30, 2009
Almost half of New Jerseyans surveyed—47 percent—say limited smoking areas in Atlantic City casinos are acceptable to them.
Fri, Jan 30, 2009
Revenues from casino cruises have been sinking since early 2007, so Florida’s Canaveral Port Authority will create a commission to study dockside gambling as a possible solution.
Fri, Jan 30, 2009
New Jersey’s state Senate Labor Committee will consider a bill to allow about 300 Casino Control Commission employees to drop their “confidential employee" status and unionize.
Fri, Jan 30, 2009
Dealers at the Tropicana Casino and Resort in Atlantic City have filed an unfair labor practices charge against the casino, according to the United Auto Workers Union.
Sat, Jan 31, 2009
The refusal of the U.S. Supreme Court to hear a case filed three years ago by foes of a casino in Wayland Township, Muskegon County, Michigan seems to remove the last barrier to the $200 million project of the Gun Lake Band of Pottawatomi Indians.
Sat, Jan 31, 2009
An anti-casino coalition in New York State will not step down from its fight to close the Seneca Buffalo Creek Casino, despite two rulings from federal agencies that support the Indians’ rights to operate.
Sat, Jan 31, 2009
Harrah’s Entertainment has signed an agreement with slot manufacturer WMS Gaming to install the slot-maker’s networked “Star Trek” game at all its properties.
Sat, Jan 31, 2009
Table game supplier TCS John Huxley Europe Ltd. announced a new patent the company has been issued for a live gaming system in which players in a card game like blackjack can make their decisions on hands simultaneously.
Sat, Jan 31, 2009
NCR Corporation took the occasion of its first ever appearance at the London casino expo IGE to announce its entry to the casino market. The long-established supplier of cash registers and ATMs introduced several products which are intended for self-service use by visitors or employees and are grouped under the name SelfServ.
Sat, Jan 31, 2009
Leading slot manufacturer International Game Technology announced that its profits are down 42 percent from a year ago. Wall Street analysts, though, said that although the company missed its first-quarter earnings estimates, the results are comparatively good, considering the economy
Sat, Jan 31, 2009
The SS Catalina was once one of Southern California’s most glamorous ships. Between 1924 and 1975, the ship cruised the coast of California between Los Angeles and Catalina island, carrying more than 9 million passengers. And the fact that a casino would open enroute made it a popular venue.
Sat, Jan 31, 2009
The ironically named “Employee Free Choice Act” is threatening gaming operations large and small across America. The legislation is favored by the recently installed Obama administration.
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