Fri, Feb 13, 2009
Provisions to President Barack Obama's stimulus package will reduce the tax burden on companies that seek to relieve some of their debt. This works in favor of many gaming companies laboring under huge debt loads. And tribes have reason to cheer, as well.
Fri, Feb 13, 2009
When it comes to hope for a battered casino industry, the new ACES train could be right on time. The Atlantic City Express Service, the first direct line between Manhattan’s Penn Station and New Jersey's gambling resort, made its inaugural run on February 6.
Sat, Feb 14, 2009
Frank Ferititta (l) and his brother Lorenzo, along with Colony Capital, are the target of a lawsuit challenging the Station Casinos bankruptcy plan.
Sat, Feb 14, 2009
The Taiwanese island of Little Kinmen (at left, with the skyline of Chinese mainland city of Xiamen in the distance), or Lieyu, is planning an April 4th referendum to see if residents are in favor of casino gambling. A simple majority is enough to pass the referendum.
Sat, Feb 14, 2009
United States Congressman Barney Frank told the Financial Times of London that he expects the Unlawful Internet Gambling Enforcement Act to be overturned soon, noting that Americans are “demanding the right to gamble online.”
Sat, Feb 14, 2009
Representatives of the Seneca Nation and its gaming partner, Rotate Black of Michigan, met last week in the office of New York Governor David Paterson (l.) to discuss plans for a full-scale casino resort in the Catskill Mountains.
Sun, Feb 15, 2009
This bear market, which for gamers is nearly two years old, has burned a lot of value investors who sensed a bottom. And with economic statistics worsening daily, and more gaming companies now facing the prospect of considerably higher interest expense as they refinance loans or rewrite debt covenants, now is not the time to blow the all-clear signal.
Sat, Feb 14, 2009
In a positive outlook for the Macau gaming industry, Melco Crown Entertainment will open the first two phases of its massive City of Dreams casino resort in the second quarter of this year.
Sat, Feb 14, 2009
Opposition to Goa’s shipboard casinos is rising as politicians, businessmen and seemingly the media support a policy review.
Sat, Feb 14, 2009
While Crown Casinos claims its Australian casinos are faring very well during these difficult economic times, the same cannot be said for its U.S. investments.
Sat, Feb 14, 2009
The operator of Cambodia’s NagaWorld Casino Resort is confident its market is secure.
Sat, Feb 14, 2009
If she’s half the businessman her father is, casino magnate Stanley Ho, Pansy Ho will do just fine. But right now, times are tough and she’s scrambling to expand her empire.
Sat, Feb 14, 2009
Ontario's ombudsman says lottery ticket sellers and their families should be banned from playing the games unless the level of fraud drops substantially.
Wed, Feb 18, 2009
A report on the Debtwire news service today said that Deutsche Bank, the investment bank that inherited the Cosmopolitan when the buildings previous owners defaulted, is negotiating with MGM Mirage give the project to the MGM's CityCenter development and raise an additional $1.2 billion to complete both projects.
Sat, Feb 14, 2009
What is Trump without Trump? We’ll find out now that Donald Trump has resigned as chairman of Trump Entertainment Resorts last week after bondholders rejected an offer to buy the company from them. His daughter, Ivanka, also stepped down from the board.
Sat, Feb 14, 2009
A week after an underwhelming showing of six bids for five available slot licenses in Maryland, there are now two fewer bids. The state slots commission rejected two bids for failing to include the application fee.
Sat, Feb 14, 2009
A prominent Delaware lawmaker is poised to introduce a bill that would make the First State the only Eastern jurisdiction to permit legal sports wagering.
Sat, Feb 14, 2009
The federal bankruptcy judge for the Greektown Casino in Detroit, Michigan, last week approved of it getting another $46 million loan, despite protests from existing creditors, who are owed $300 million. The loan will enable the financially troubled casino to finish work on its 30-story, 400-room hotel, which opened February 5.
Sat, Feb 14, 2009
With the new speaker of the House favoring slot machines at racetracks, and other legislators coming on board, a regional gaming expert says the prospects for gaming in the Bay State has more "mass" appeal than anytime in the last 15 years.
Sat, Feb 14, 2009
Last week Sedgwick County commissioners in Kansas said they weren’t interested in giving Wichita Greyhound Park owner Phil Ruffin another chance to sway voters to allow slot machines at the track, which has been closed since 2007. Ruffin had requested to put the issue on the April ballot.
Sat, Feb 14, 2009
Four months after Delaware North was chosen to run the racino at Aqueduct Raceway in New York, the Buffalo company says construction could be further delayed as it restructures its financing deal.
Sat, Feb 14, 2009
An attorney in Las Vegas filed a class action lawsuit against the Venetian resort alleging the casino did not pay certain current and former employees overtime wages.
Sat, Feb 14, 2009
Hawaiian Democratic U.S. Senator Daniel Akaka recently reintroduced his revised version of a bill that would create a sovereign governing body for the state’s native residents. Akaka’s bill has been in the works for nine years, but has been stalled—until now.
Sat, Feb 14, 2009
With the economy in shambles, lawmakers throughout the country are seemingly less eager to impose smoking bans.
Sat, Feb 14, 2009
Clark County officials are asking MGM Mirage to review all inspections performed by the firm that failed to notice deficiencies in the work performed on the Harmon tower.
Sat, Feb 14, 2009
The Prairie Meadows Racetrack and Casino near Des Moines, Iowa is losing more money at its racetrack than it is taking in at its casino, according figures released last week.
Sat, Feb 14, 2009
Georgia Governor Sonny Perdue has said there will never be casino gambling in the state as long as he holds office. That hasn't stopped a developer from wooing Atlanta City Council and the Georgia Lottery Board to turn city-owned Underground Atlanta into a casino and entertainment complex
Sat, Feb 14, 2009
Lawmakers in South Dakota are trying to mitigate the effects of a recently approved casino in Larchwood, Iowa. The town is just a few miles from Sioux Falls, South Dakota, and officials fear the negative influence of a nearby casino. So a select group of state senators have decided to fight fire with fire with a vote for gaming in Sioux Falls.
Sat, Feb 14, 2009
New Jersey lawmakers may alter state casino regulations to help Atlantic City casinos better manage the recession and increased regional competition.
Sat, Feb 14, 2009
A bill allowing instant wagering on previously run horse races has been introduced in Colorado.
Sat, Feb 14, 2009
The proposed casino that would serve as an anchor to an entertainment district in St. Tammany Parish, Louisiana, has some support among local residents. Exactly how much support remains to be seen.
Sat, Feb 14, 2009
Connecticut Attorney General Richard Blumenthal will have a hard time convincing the state's tribal casinos to accept a phased-in smoking ban, which would start with a partial ban this October, become a 50 percent ban in 2010, and culminate in a total ban a year later. Beyond the health and economic implications, the Indians say, this is an issue of tribal sovereignty.
Sun, Feb 15, 2009
Detroit’s Greektown Casino-Hotel announced that Christopher Colwell, a senior vice president of marketing firm the Fine Point Group, has been named the property’s general manager, subject to regulatory approvals.
San Berdino’s San Manuel Indian Bingo & Casino became the first casino in California to install International Game Technology’s new “REELdepth” slot machines, in the form of multi-game units.
TableMax Gaming, a distributor of electronic table games, has signed a contract with Kis Gaming to supply content on the TableMax system. Under terms of the agreement, Kis Gaming will provide its SUM+IT+UP game content for use on the TableMax platform.
Gaming’s most important union will continue to be racked by dissension now that the executive board of UNITE HERE voted to remain a single entity.
The famous Lion King stage show will be the first Disney production to debut in Las Vegas in May. Tickets go on sale March 14.
Wed, Feb 18, 2009
A report on the Debtwire news service today said that Deutsche Bank, the investment bank that inherited the Cosmopolitan when the buildings previous owners defaulted, is negotiating with MGM Mirage give the project to the MGM's CityCenter development and raise an additional $1.2 billion to complete both projects.
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