Issue : Vol. 8 • No. 34 • August 30, 2010

GGB NEWS August 30, 2010

Go-Go Gomes

High-energy casino executive Dennis Gomes buys Resorts Atlantic City in a deal that could mean as much for the city as it will for the troubled hotel. Few details on the deal are available, but some experts speculate that he paid less than $50 million for the property.

FEATURES:

WEEKLY FEATURE: House of Cards in Saipan

Worker Shortage Hurts Macau Development

A shortage of construction workers due to the Macau government’s restrictions on foreign employees has delayed the completion of a Las Vegas Sands project (parcels 5 and 6) and threatens Galaxy Entertainment’s Cotai Strip development.

Developer Buys Land for Cleveland Temp Casino

The development company that has the right to build a casino in Cleveland has agreed to buy 16 acres near the city’s Tower City Center that would be used for the permanent casino. He has also purchased another building to serve as a temporary casino while the permanent one is built.

Reid’s Lead

ALSO:

Cosmopolitan Joins Team Marriott
FANTINI’S FINANCE: China: A Bubble To Burst?
Barbados Association Opposed to Casinos
Aristocrat Names New Chairman
Gaming Working for Singapore
GLOBAL GAMING BUSINESS PODCAST: Reese Palley, Former Atlantic City Businessman

Issue : Vol. 8 • No. 33 • August 23, 2010

GGB NEWS August 23, 2010

Russia Reconsiders

Alexander Tkachyov (l.), the governor of Russia’s only active gaming zone wants to move the action to an established Black Sea resort. But authorities in the neighboring region, which shares stewardship of the current zone, is opposing any change.

FEATURES:

WEEKLY FEATURE: M Resort on Block in Vegas

PAGCOR: Expansion Before Privatization

The chairman of the Philippine Amusement and Gaming Corporation (PAGCOR), Cristino Naguiat, says the corporation’s Entertainment City resort complex in Manila will go forward and that he’s also considering integrated resorts in other cities.

Profitable Gaming Tribe Takes Roll as Banker

When banks turn them down for financing, the court of last resort for many Indian gaming tribes is the Shakopee Mdewakanton Sioux of Minnesota, owners of the Mystic Lake Casino, who have loaned over $200 million in the last two years to fellow tribes.

Genting’s Alleged Double-Dealing

ALSO:

LV Sands Leven Opens Up
Triple Threat Killing Irish Clubs
First Woman Leads Mohegan Tribe in 300 Years
FANTINI’S FINANCE: Fire Sale

Issue : Vol. 8 • No. 32 • August 16, 2010

GGB NEWS August 16, 2010

Harrah’s To Operate 2 Ohio Casinos

Harrah’s Entertainment was selected last week by casino developer Rock Gaming to operate two casinos in Cleveland and Cincinnati. Rock Gaming, controlled by the NBA’s Cleveland Cavaliers owner Jeff Gilbert, received one of the two licenses available in Ohio.

FEATURES:

WEEKLY FEATURE: PAGCOR Going Private?

Philippine businessman offers $10 billion for the PAGCOR casinos, as the nation’s new president, Benigno Aquino III, ponders the sins of the previous administration and the privatization of the federally owned corporation. PAGCOR Chairman and CEO Cristino L. Naguiat, Jr. is currently investigating licenses and contracts entered into in the past 10 years.

Genting Posts Astounding Singapore Numbers

The casino owned by Genting Bhd in Singapore, Resorts World Sentosa, has blown all revenue estimates out of the water with its second quarter report.

A Third Try for Kansas’s Sumner County

Kansas is trying for a third time to pick a developer to build and operate a state-owned casino in Sumner County. Last week the county commission heard from three applicants.

Feds Prefer Cascade Locks, Oregon for Casino

ALSO:

Ameristar Up For Sale

Reid Key to Passage of Online Gaming Bill

Parrott to Hall of Fame

Australia’s Tabcorp Shifts Focus to Casinos

FANTINI’S FINANCE: Group Hug

GLOBAL GAMING BUSINESS PODCAST: Rob Wyre, General Manager, Isle of Capri Casino and Pompano Park Racetrack

Issue : Vol. 8 • No. 31 • August 9, 2010

GGB NEWS August 9, 2010

Stars to Shine in Manila?

Harrah’s Entertainment is rumored to be in the final stages of an agreement with a Philippine company to manage a “Planet Hollywood” casino in the Entertainment City resort development in Manila.

FEATURES:

WEEKLY FEATURE: Genting Gets Aqueduct

Genting, the Malaysian company that operates Genting Highlands near Kuala Lumpur, which stood alone in the last round of bidding for the Aqueduct racetrack casino, gets the thumbs-up from the New York Lottery Division.

Massachusetts Gaming Bill In Coma

Gaming in Massachusetts appears dead for this year after a face-off between Governor Deval Patrick and the legislature left a gaming bill requiring CPR by special session to revive it.

Fertittas Approved in Station Buyout

With the withdrawal of Boyd Gaming in late July as a bidder for a group of properties owned by bankrupt Station Casinos, a proposal from the Fertitta brothers was the highest bid. An August 27 court hearing could turn the former Station Casinos over to them and their lenders.

Tabcorp Adds to Star City Improvement

The rivalry with Australian casino operator Crown is one driving force behind the latest additional commitment by Tabcorp to upgrade its Sydney casino. Another is the need to replace a few hundred million in revenue from non-casino operations that will be gone in a couple of years.

ALSO:

Gaming Summit Convened in New Jersey

Frank Bill: Prospects Dim

Former NIGC Chief Predicts More Corruption for Indian Gaming

Good News, Bad News for MGM, Harrah’s

Leading Technology Awards to be presented at G2E

Issue : Vol. 8 • No. 30 • August 2, 2010

GGB NEWS August 2, 2010

Frank Forward

A committee of the U.S. House of Representatives has approved an online gambling bill introduced by its chairman, Rep. Barney Frank, that would legalize, tax and regulate online gaming in the United States. The bill favors U.S. land-based casino companies, as well as operators who have abided by the American ban on net wagering.

FEATURES:

WEEKLY FEATURE: Bay State Battle

Massachusetts politicians reach a compromise on the proposed casino bill, but a measure to approve slots at two state racetracks likely dooms the bill to a veto. House Speaker Robert DeLeo and Governor Deval Patrick are the key players.

Shakeup In Macau

Two rival properties change leaders as competition heats up on the Cotai Strip. Greg Hawkins exits City of Dreams and Steve Jacobs gets fired from Sands China and its Macau properties.

Showdown in New Jersey

Lawmakers call for a summit to assess Governor Chris Christie’s recently disclosed agenda, which would restrict gaming to Atlantic City and mandate state oversight of the island resort. At left, Christie addresses a press conference announcing his plans while the city’s movers and shakers look on.

PartyGaming, Bwin Merge

Combination of two powerhouses will create online gaming’s largest company, dominating the poker, casino, sports betting and bingo spaces. Jim Ryan, PartyGaming CEO, will share CEO duties in the new company with Bwin head Norbert Teufelberger.

ALSO:

Three Apply To Develop Kansas Casino

Carcieri Fix Added to House Bill

Korean Company Plans Cambodia Casino

GLOBAL GAMING BUSINESS PODCAST: Lorenzo Langford, Mayor, Atlantic City, New Jersey

Station Casinos Outlines Final Bankruptcy Deal

FANTINI’S FINANCE: Senior Service

Issue : Vol. 8 • No. 29 • July 26, 2010

 GGB NEWS July 26, 2010

A New Day For AC

Governor Chris Christie (l.) outlines a plan that will bar gaming in other parts of New Jersey while setting up an autonomous casino tourism district in Atlantic City. The state will also seek to sell its racetracks and direct CRDA revenues directly to Atlantic City. The casino industry applauds.

FEATURES:

WEEKLY FEATURE: Hook, Online, Sinker

The revolutionary launch of online gaming by the British Columbia Lottery Commission fell victim to a technical glitch and was shut down just hours after startup. One week later, a definitive answer to what caused the problem, and a new re-launch date, were still lacking.

Aquino Eyes PAGCOR Sale

Philippine President Benigno Aquino said he’s open to a possible sell off of the Philippine Amusement and Gaming Corp. (PAGCOR) but first need to get it into shape.

Lobbying Heats Up for Carcieri Fix

Tribes frustrated with the lack of a legislative remedy to the Carcieri v. Salazar case have put pressure on friendly congressmen to move forward. Jefferson Keel, president of the National Congress of American Indians, pleaded for a cure.

Harrah’s Explores IPO

Gaming’s largest company may issue an IPO soon because of a deal its owners struck with billionaire John Paulson. According to Harrah’s Chairman and CEO Gary Loveman, the deal could happen “in a matter of months.”

ALSO:

London Hippodrome Will Go Round the Clock

Missouri Gets Seven Casino Applications

House Hears Internet Gambling Testimony

MGM Eyes Australian Non-Gaming Development

Deadline Approaches for Massachusetts to Agree on Casino Bill

GLOBAL GAMING BUSINESS PODCAST: Gerhard Burda, Senior Vice President, GTECH Gaming Solutions

Issue : Vol. 8 • No. 28 • July 19, 2010

GGB NEWS July 19, 2010

Harrah’s Philly?

Harrah’s Entertainment is negotiating to take over the troubled Foxwoods Philadelphia project (outdated rendering at l.), which could save the license for the developers. Steve Wynn pulled out in April after agreeing to take it over.

FEATURES:

WEEKLY FEATURE: Eye On Japan

Pequots’ Financial Problems Mount

$2 billion in debt has forced the Mashantucket Pequots, owners of Connecticut’s Foxwoods Casino Resort, to end monthly distributions of casino revenues to 450 adult members, while the tribe misses a deadline on a $700 million bond.

Riviera Files for Bankruptcy

Riviera Holding Corp. has filed for bankruptcy after months of speculation. The company’s attorneys say a reorganization agreement has already been agreed to, and that the company’s Las Vegas and Colorado resorts will operate unaffected.

Casinos in Massachusetts May Wait a Year Says Governor

With the legislative deadline approaching to reach a deal between two versions of gaming expansion, one from the House and the other from the Senate, Massachusetts Governor Deval Patrick is pessimistic that a deal will be struck this year.

ALSO:

Wynn Tip Policy OK’d

New Philippines Official to Get Tough on Illegal Numbers

Casino Study Planned for Israel Resort

FANTINI’S FINANCE: No Surprises 2Q

Carcieri ‘Fix’ Uncertain

Issue : Vol. 8 • No. 27 • July 12, 2010

GGB NEWS July 12, 2010

Genting Stands Alone

Two U.S. companies are out of the race for Aqueduct after trying to finagle better deals. That leaves only Genting NY, based in Kuala Lumpur, and headed up by K.T. Lim, in the running to create New York City’s first racino.

FEATURES:

Massachusetts Pols try to Reconcile Differences on Bill

U.K. Casinos Go from Genting Singapore to Genting Malaysia

One company of Malaysia-based multinational Genting Group is buying the U.K. casinos of another Genting Group company, which includes the Maxims casino in Southampton. The lateral move will see Genting Malaysia take on international duties and leave Genting Singapore to focus on its Resorts World Sentosa property.

No More Casinos in Michigan?

While two ballot proposals that would have expanded corporate-owned casino licenses and legalized gaming at racetracks failed to collect enough voter signatures, the Little River Band of Ottawa Indians is fighting to build an off-reservation casino in Fruitport Township. Good news for Detroit casinos like MGM Grand Detroit.

Indian State Agency Jumps the Gun on Gaming

India has been called the next potential Macau by casino developers. One state in the northwest of the nation believes casino gaming would make a great addition to its future tourism offering, but laws will have to be changed before the topic can be seriously considered—or even mentioned.

ALSO:

Brazil Still Expecting Bingo This Year

Tribes Under Scrutiny

Macau Magic

Pennsylvania Launches Tables

GLOBAL GAMING BUSINESS PODCAST: Sven Van Assche, Vice President of Design, MGM Resorts International

Issue : Vol. 8 • No. 26 • July 5, 2010

GGB NEWS July 5, 2010

Gaming a Go in Massachusetts

Despite a weeklong effort a delaying and dealing with 164 amendments, the Massachusetts Senate last week passed a casino bill that will now have to be reconciled with an earlier bill passed by the House—before going to the governor, Deval Patrick (l.), who will decide whether to sign the bill.

FEATURES:

WEEKLY FEATURE: VLTs Seem OK for Ohio

Two companies that will be involved in the development of Ohio’s four regional casinos have also decided to invest in racetracks, including Harrah’s purchase of Cleveland’s Thistledown, as a November referendum is cancelled.

3 Bidders Remain at Aqueduct

Delaware North has dropped out of the racino race, citing credit concerns and the specter of tribal competition. That leaves three bidders from an original pack of six.

Ukraine Studying Re-introduction of Casinos

Casino gaming is said to be poised to make a comeback in Ukraine, after the entire industry was banned in May 2009. Alsart’s Lyubov Loginova expects a gaming bill to be introduced as early as this coming autumn.

More Officials, Entrepreneurs Liking Casinos for Japan

A slow but increasing movement towards casinos in Japan has been at work on a local level. Now, a group of political and business leaders hopes to have its views ready for discussion before the end of the year. Will Narita Airport host the first casino?

ALSO:

California Online Gaming Bill Dead for This Year

New York Launches Racino Effort

GLOBAL GAMING BUSINESS PODCAST: Kevin DeSanctis, President and CEO, Revel Entertainment

FANTINI’S FINANCE: Small News, Big Numbers

Issue : Vol. 8 • No. 25 • June 28, 2010

GGB NEWS June 28, 2010

Down So Far…

Moody’s report indicates that the gaming industry may have hit bottom, but it’s still going to be a long way back after such a steep and precipitous fall.

FEATURES:

WEEKLY FEATURE: British Bingo Bet

Gala Coral, the largest betting and gaming group in the U.K., has announced the successful conclusion of its balance sheet restructuring. With reduced debt, Gala Coral is now looking to a strong future. 

Massachusetts Senate Poised to Vote on Casino Bill

The Massachusetts Senate is wading through 164 proposed amendments to a bill that would create three regional casinos. The vote is expected very soon, but debate was shut down late last week to determine the costs of more than 150 amendments. Governor Deval Patrick expects to see a bill by the end of the month.

‘Official’ Debut of Singapore Casino Includes SkyPark

Marina Bay Sands, the Singapore casino of Las Vegas Sands, held its official grand opening last week, adding more amenities to the items that opened in April. The SkyPark and its infinity pool, spanning the three towers, is the project’s signature attraction.

Australia Advised to Cut Slot Stakes

Australia’s states generally have jurisdiction over their own gambling regulations. But the most recent report from the national Productivity Commission could see the federal government impose a strict limit on the maximum stake for non-casino slot machines, like this club in Sydney.

ALSO:

Station Auction Gets Go-Ahead

Germany Gets New Casino

Shinnecocks Consider Multiple Casinos

GLOBAL GAMING BUSINESS PODCAST: Fabio Moretti, CEO, Thunderbird Resorts Philippines

Issue : Vol. 8 • No. 24 • June 21, 2010

GGB NEWS June 21, 2010

PAGCOR Pass

Efriam Genuino (l.) resigned last week as chairman of the Philippines Amusement and Gaming Corporation under pressure from incoming president, Benigno Aquino III, after he received a “midnight appointment” from outgoing president, Gloria Arroyo.

FEATURES:

WEEKLY FEATURE: Shinnecocks Win Recognition

With its new status as a federally recognized tribe, the Shinnecock nation of New York prefers to stay mum on its casino plans. Elders with the tribe celebrate the decision by the Interior Department.

MGM Mirage Changes Name

‘Mirage’ has officially been dropped from MGM’s name. The company is now known as MGM Resorts International, but officials said the Mirage will not be for sale. Rather, the new name better reflects MGM’s global business strategies.

Company Plans IPO for Manila Facility

Kazuo Okada, the biggest shareholder in Wynn Resorts last week announced plans to issue an IPO to fund a huge gaming resort is will build at Manila’s Entertainment City.

Wynn Will Break Ground Next Year in Macau

Steve Wynn tells reporters last week that Wynn Macau will break ground on the company’s third SAR development next year on the Cotai Strip. The second, Encore Macau, opened in April.

ALSO:

Austrian Adjustment

FANTINI’S FINANCE: The Rest of the Story

GLOBAL GAMING BUSINESS PODCAST: Susan Macke, Chief Marketing Officer, International Game Technology

Venneman Joins Bally

Rhode Island Governor Questions Legality of Casino Bill

Issue : Vol. 8 • No. 23 • June 14, 2010

GGB NEWS June 14, 2010

Asian Accent

The 4th annual G2E Asia was held last month at the Venetian in Macau, with thousands of attendees and the latest in products offered to casino operators in the burgeoning Asian market. A series of quality keynote presentations and conference sessions provided updates on all issues of importance to the Asian region. The 2010 G2E Asia Visionary Award was presented by AGA President Frank J. Fahrenkopf, Jr. to Ainsworth Gaming Chairman Len Ainsworth (c.).

FEATURES:

WEEKLY FEATURE: E.U. Court OKs Dutch Online Ban

In two separate cases, the European Court of Justice has ruled that the Netherlands is allowed to stop online gaming operators from offering their products to Dutch citizens, as long as the goal of the preventive action is to combat illegal activity and safeguard the public.

France Is Open

Last week saw regulator ARJEL award the first free-market licenses to online horseracing and sports betting operators other than the two traditional French monopoly organizations.

Station Bondholders File Appeal

Unsecured creditors in the Station Casinos bankruptcy case have filed an emergency stay in the auction process for 11 Station casinos, including Texas Station, while their appeal of the bidding is heard.

Paulson Invests in Harrah’s

John Paulson first acquired stakes in MGM Mirage and Boyd Gaming; now the investor has purchased a 9.9 percent stake in Harrah’s Entertainment.

ALSO:

Slots Purchased for Penn’s Maryland Casino

GLOBAL GAMING BUSINESS PODCAST: Jonathan Galaviz, Managing Partner, Galaviz & Company

Vietnam Wants Quality Investment

FANTINI’S FINANCE: It’s Not Over Until It’s Over

Panama Expecting More Casinos

Foxwoods President Resigns

Issue : Vol. 8 • No. 22 • June 7, 2010

GGB NEWS June 7, 2010

Collision Course

The Massachusetts Senate is ready to begin work on a proposal by the leadership for three casinos resorts, but no racinos. That places the Senate in conflict with a bill already passed by the House. Senator Karen Spilka (l.) is leading efforts to finalize the gaming bill. 

FEATURES:

WEEKLY FEATURE: UIGEA In Effect, Business As Usual

The Unlawful Internet Gambling Enforcement Act went into effect June 1 after a last-minute attempt by the Poker Players Alliance to exempt poker from the act. That attempt failed, but poker players and online gamblers continue to transfer funds from American accounts to gambling websites. 

Six Players Line Up for Aqueduct

Four previous bidders queue up for the New York City racino, along with two newcomers. Each group has paid $1 million as part of the application process. 

Two States Move Online Gaming Bills

California and New Jersey are each considering bills that would legalize online gaming/poker, hoping to bring the "first mover" benefits and increased tax revenues. California state Senator Rod Wright (l.) believes the matter is "urgent." 

Records Fall Again in Macau

As if double-digit boosts in revenue weren't enough over the past year, the Macau casinos came close to increasing revenues by nearly 100 percent in May. 

ALSO:

Kissin’ Cousins

GLOBAL GAMING BUSINESS PODCAST: Curtis Sliwa, Founder, Guardian Angels

Senate Confirmation Goes Smooth for Stevens

Issue : Vol. 8 • No. 21 • May 31, 2010

GGB NEWS May 31, 2010

Game Over in Alabama

State Supreme Court ruling hands power over electronic bingo to Governor Bob Riley (l.) and his anti-gaming task force. But candidates in the primary election say they will reverse the stance if elected. 

FEATURES:

WEEKLY FEATURE: Eastern Attitude

The East Coast Gaming Congress calls for private-sector cooperation and public-sector marketing to bring industry out of recession. Speakers focus on Atlantic City, Pennsylvania, Ohio and New England, as well as the overall health of the industry. 

Las Vegas Sands Snares Playboy for Macau; Awards Construction Contracts

The iconic men's magazine brand, Playboy, will come to Macau after all now that a deal has been cemented between the company and Las Vegas Sands for a club in the Sands Macao casino hotel and a mansion to be located in one of the Cotai Strip properties. And the same week, the company signed contracts worth $120 million to resume construction of Parcels 5 and 6. 

Harrah’s Buys Ohio Track—Again!

After the first purchase collapsed, Harrah's Entertainment once again bought the Thistledown racetrack, outside of Cleveland, at a steep discount. 

Support High for Tribal Casino in Massachusetts Town

Support is high in Fall River, Massachusetts for a proposal by the Mashpee Wampanoag tribe and Chairman Cedric Cromwell, which won approval last week from the Fall River Redevelopment Authority for its proposal to build a casino on 300 acres that had been designated a BioPark. 

Delaware Kicks Off Table Games

Midway Slots at Harrington Raceway became Harrington Raceway & Casino last week, as Harrington became the first Delaware racino to launch live table games. 

ALSO:

FANTINI’S FINANCE: When Up is Down

GLOBAL GAMING BUSINESS PODCAST: Michael Boettcher, Founder and President, Storm International

NYRA: We'll Close June 9

Issue : Vol. 8 • No. 20 • May 24, 2010

GGB NEWS May 24, 2010

Online Gambling Showdown

Hearing on Capitol Hill focuses on internet gaming taxation that would produce tens of billions of dollars over the next 10 years. Sponsors say they want to gauge the support for the measure within Congress. The financial reform bill being considered by the Senate may be a way to get it passed. 

FEATURES:

WEEKLY FEATURE: Buckeye Rules

The Ohio House and Senate are working on two different, although similar sets of regulations to guide in the administration of the state's four casinos that are due to start opening in 2012. 

Macau Casinos Get Financing

MGM Grand Macau and Sands China last week confirmed that they had lined up financing to refinance existing loans and the fund expansion projects. 

‘Largest’ Philippine Casino To Get Under Way

The first casino in Manila's Entertainment City could open next year if Philippine tycoon Henry Sy can stick to his schedule. Harrah's Entertainment is reported to be the casino operator being considered by the Belle Corp. 

Missouri Begins Process to Award 13th Casino License

About 15 potential casino developers showed up at a meeting of the Missouri Gaming Commission to hear about how the process to award a 13th gaming license will proceed, says Executive Director Gene McNary.

Massachusetts Tribe Drops One Town, Embraces Another

The Mashpee Wampanoag tribe of Massachusetts, after three years of working with the town of Middleboro, have dropped it and announced last week that it wants to build a destination casino resort in Fall River. 

ALSO:

Vietnam Resorts Mainly on Track

Texas Mulls Gaming to Plus Budget Hole

GLOBAL GAMING BUSINESS PODCAST: The late former New Jersey Casino Control Commissioner Frank J. “Pat” Dodd

Issue : Vol. 8 • No. 19 • May 17, 2010

GGB NEWS May 17, 2010

Bermuda Pols Nix Casinos

The pro-gaming premier of Bermuda, Ewart Brown (l.), has been handed another defeat in his effort to bring casinos to the ailing tourist economy of the island. Regardless, he seems to have an inexhaustible supply of optimism for the future. 

FEATURES:

WEEKLY FEATURE: Big A; Here We Go Again

This time, the New York Lottery will decide who runs a racino at Aqueduct Racetrack. It's the fourth round of bidding in nine years under three administrations. And now NYRA, the state racing organization, which operates the famous Saratoga racetrack, may sue because it's not getting revenue from Aqueduct slots. 

U.S. Virgin Islands OKs Slots and VLTs

The law allowing slot machines at the Randall "Doc" James racetrack on St. Croix in the Virgin Islands has been signed by the governor. However, an adjustment to the law will be needed to head off potential problems of jurisdiction concerning VLTs on St. Thomas.

Report: Singapore Gamblers More Local Than Hoped

Unofficial reports from Singapore indicate that gamblers at the two casinos are made up of more locals than the government initially wanted to see. Residents of the city-state must visit the casino via a separate entrance and pay a levy. 

Sands China Eyeing Japan?

A recent Reuters article has Sands China CEO Steve Jacobs speculating about his company's intentions on entering Japan, should the government decide to legalize casino gaming.

GLOBAL GAMING BUSINESS PODCAST: Michael Leven, President and COO, Las Vegas Sands Corp.

This week, the Global Gaming Business Podcast features a discussion with Michael Leven, the president and COO, of the Las Vegas Sands Corp., which was conducted just prior to the opening of the company's newest integrated resort, the Marina Bay Sands in Singapore. 

ALSO:

Cherokees Plan Casino

Iowa’s Lyon County Gets Casino

FANTINI’S FINANCE: April Showers

'Boutique' Casinos Pass Jersey Committee

Issue : Vol. 8 • No. 18 • May 10, 2010

GGB NEWS May 10, 2010

15 Want to Show Show-Me-State

Missouri has one casino license, its last, to dispense, and 15 potential developers who are interested in bidding for it. The license, formerly used by Pinnacle's President Casino (l.), which will close in July, was surrendered in March and several major gaming companies are planning bids. 

FEATURES:

WEEKLY FEATURE: State of the States: Good and Improving

The annual "State of the States" report issued by the American Gaming Association was released last week and showed that, despite the struggling economy, gaming provides relief to states by providing jobs and taxes when they are most needed. 

Jamaica Gaming Bill Signed

Governor General Sir Patrick Allen has signed into law the bill that will allow development of large-scale casino resorts to proceed. The move ends speculation that the Governor General's religious beliefs could outweigh the will of the people. 

Penn National and Magna Partner in Maryland

The two premier racetracks in Maryland-Laurel Park and Pimlico-will be under the joint ownership and Penn National Gaming and MI Developments, an offshoot of Magna Entertainment, as the two organizations reach a joint venture agreement. 

Ohio Voters Authorize Columbus Casino Address Change

Ohio voters last week gave permission to move the location of the Columbus casino resort authorized by a state constitutional amendment last year from the Arena District to the west side of the city, the now demolished Delphi auto parts plant. Meanwhile the developer of the Cincinnati casino has released preliminary renderings. 

GLOBAL GAMING BUSINESS PODCAST: Richard Haddrill, President and Chief Executive Officer, Bally Technologies

This week, the Global Gaming Business Podcast features an exclusive interview with Richard Haddrill, President and Chief Executive Officer, Bally Technologies, about his fifth anniversary leading what is one of gaming's most respected slot manufacturers. 

ALSO:

Massachusetts Gaming Bill Waits for Senate

Shuffle Master CEO Tim Parrott Dies

Casino New Brunswick Debuts

Quapaw Vice Chairman Resigns

Viage Stages Gala Opening in Brussels

Issue : Vol. 8 • No. 17 • May 3, 2010

GGB NEWS May 3, 2010

Face of the Future

Chairman and CEO Sheldon Adelson and his wife Miriam join other Las Vegas Sands Corp. executives to cut the ribbon on Marina Bay Sands in Singapore; a property executives predict will redefine the casino destination resort. The facility is the second "integrated resort" to open in the island nation, which plans to use the casino as a tourist attraction and a generator for MICE business. 

FEATURES:

WEEKLY FEATURE: More Gambling In Illinois

Illinois lawmakers are informally looking at allowing up to 1,200 slot machines in the state's six racetracks in preparation for introducing a bill soon. And this latest move comes just months after VLTs were approved for state taverns and restaurants with the approval of local governments. Just that much more pressure on the state's long-suffering casinos, like Grand Victoria in Elgin. 

Labor Restrictions Could Slow Macau Expansion

Limits on the number of foreign construction workers that a company could hire could make it more difficult for companies to develop in Macau. While the new regulations could affect construction on parcels 5 and 6 of the Las Vegas Sands Cotai Strip development, Galaxy Entertainment's Galaxy Macau project should not be impacted. 

Foxwoods License at Risk in Philadelphia; Wynn is Back

The Pennsylvania Gaming Control Board takes the first steps to pull the Foxwoods Philadelphia license as Steve Wynn hints he still likes the state. Just because the casino magnate pulled out of Foxwoods doesn't mean he's uninterested in a casino there.

Stevens Named to Head NIGC

Tracie Stevens, a member Washington's Tulalip tribe, was named as chairwoman of the National Indian Gaming Commission last week, filling all three seats for the first time in more than two years. 

Shinnecocks Eye Sports Arena

With federal recognition imminent, the Long Island tribe weighs the pros and cons of locating a casino in an old sports arena in Nassau County, New York.

ALSO:

Boyd, Station Casinos Clash

GLOBAL GAMING BUSINESS PODCAST: Lloyd Levenson, Partner, Cooper Levenson, Atlantic City

Shuffle Master CEO Steps Down

FANTINI’S FINANCE: Gaming’s New Normal

Three Bid for St. Louis Casino
Push-Pull for Bahamas Law Change

Issue : Vol. 8 • No. 16 • April 26, 2010

GGB NEWS April 26, 2010

Encore Again

Wynn Resorts' Encore Macau opens in Macau, bringing yet a higher bar to the luxury end of the market in the SAR. The property features all suites (l.) with spectacular views and superior amenities. But he's already eyeing his next Macau project on the Cotai Strip.

FEATURES:

Changing His Tune?

Senate Majority Leader Harry Reid, the man who controls the gaming issues in the United States, is reportedly in negotiations to introduce a bill that would legalize online poker in the United States. 

Good Morning Vietnam

The Ho Tram Strip mega-pipe-dream project just took a giant step toward reality with the appointment of MGM Mirage veteran Lloyd Nathan as CEO of developer Asian Coast. With financial backing supposedly in place, the first property could be up and running in 2013.

Pinnacle’s Sugarcane Project Sinks

Pinnacle Entertainment has long been developing the Sugarcane Bay riverboat casino project, adjacent to the L'Auberge du Lac casino resort, but recently decided that the casino is no longer financially viable for the company. 

Cirque Takes On Michael Jackson

Michael Jackson's music will be paired with the acrobatic stylings of Cirque du Soleil in 2011, when the Canadian troupe takes a new Jackson show on the road. The tour will find a permanent home in Las Vegas in 2012. 

California Governor Slapped by Appeals Court

Governor Arnold Schwarzenegger last week suffered the latest in an unbroken string of federal court rebukes for the aggressive way that he has pursued revenue from Indian casinos. This time he was slapped down by the 9th Circuit Court of Appeals. However, he says he'll "be back." 

ALSO:

MGM Seeks Name Change

GLOBAL GAMING BUSINESS PODCAST: John Berry, Chairman, Quapaw Tribe

Station Reorganization Plan Causes Controversy

Betfair Positioning for Possible £1.5 Billion IPO

Issue : Vol. 8 • No. 15 • April 19, 2010

GGB NEWS April 19, 2010

House Is In Order

Massachusetts House Speaker Robert DeLeo (l.) won a very personal battle last week when he persuaded a veto-proof majority in the House to approve his legislation, which would allow two regional casino resorts and four racinos in the state.

FEATURES:

WEEKLY FEATURE: Trump 3, Icahn 1

A plan by Trump Entertainment bondholders to reclaim three Atlantic City casinos won out last week over a rival plan from corporate raider Carl Icahn. A bankruptcy court chose the Trump-backed plan because it had the support of major creditors. Ivanka Trump, Donald's daughter, will play a role in the newly formed company.

Galaxy Completes Financing for Macau Project

With a $1.1 billion loan, Galaxy Entertainment has completed the financing necessary to complete construction that will lead to the opening of its first integrated resort, Galaxy Macau, adjacent to the Venetian on the Cotai Strip.

Pennsylvania Resort License Suddenly Hot

A last-minute surprise applicant brings to five the number of projects vying for the sole available resort casino license in Pennsylvania. At one time, the license was the poor stepchild of the state gaming industry, but now has a slew of bidders. David LeVan, heading up the Gettysburg project, wants the valuable ducat.

Kansas Casino Developer Folds Cards

Chisholm Creek Casino Resort became the second developer to decide to fold 'em on its proposal to build a state-owned casino resort in Kansas's Sumner County. It had requested an extension for the state to rule on its proposal, but when the governor refused, the developer, Lakes Entertainment Chairman Lyle Berman, tossed in the cards.

Philly Paper Offers Online Bets

A venerable newspaper group, founded in 1829, gets in on the action with legal online betting for sports fans. "Insatiable appetites" for sports, gaming and the web could provide an all-new revenue stream for the struggling publications.

ALSO:

Coin Named to UNLV Post

Minnesota Bill Would Increase Money to Vikings Stadium

George Bergman Named President of BWA

GLOBAL GAMING BUSINESS PODCAST: Andrew Webb, General Manager, Viage, Brussels

Issue : Vol. 8 • No. 14 • April 12, 2010

GGB NEWS April 12, 2010

Wynn Bails on Philly

In a surprising announcement just days after discussing the project with Philadelphia Mayor Michael Nutter, Steve Wynn ditches his bid to take over the Foxwoods Philadelphia project. Wynn had submitted plans for the project, including renderings (l.), to the Pennsylvania Gaming Control Board, earlier in the week. 

FEATURES:

WEEKLY FEATURE: Seminole Pact A Done Deal

All that's left is ratification of the two-part gaming compact, which will give casino-style card games to five tribal casinos for five years, and slots to all seven casinos for 20 years. Seminole Chairman Mitchell Cypress  says it's been a "long journey."

Resorts AC on the Brink

As Atlantic City staggers under 21 percent year-over-year losses, New Jersey's first casino tells commissioners it may not continue as "a going concern" 

Indian Country Gathers in San Diego

The debut of NIGA's Indian Gaming '10 brought together more than 5,000 attendees in San Diego, highlighted by awards, entertainment and business. NIGA Chairman Ernie Stevens, orchestrates the trade show's ribbon cutting with dignitaries that included NCAI Chairman Jefferson Keel, former Senator Ben Nighthorse Campbell, actor Adam Beach and former UCLA basketball star Bill Walton.

Massachusetts Speaker Wants Casino Vote This Week

Surrounded by union members and business leaders, Massachusetts House Speaker Robert DeLeo last week released details of his bill that would allow two resort casinos and four racinos. He wants a quick vote on the bill.

MGM’s Pansy Problem

Three states are reviewing their approval of the MGM Mirage-Pansy Ho partnership in Macau after New Jersey rejects the deal and accuses Pansy of being too closely linked to her father, Stanley Ho (l.), who state regulators claim to be connected to organized crime.

ALSO:

FANTINI’S FINANCE: Buy Low, Sell High

France Opens Online Market

Philippines Development Hits Controversy

Armenia Redraws Gaming Guidelines

Podcast: Ken Jolly, Executive Vice President and General Manager, Australia, Asia, Africa and Europe, Aruze Gaming Americas

Issue : Vol. 8 • No. 13 • April 5, 2010

GGB NEWS April 5, 2010

Within Sight

It took three years of wrangling, but Florida lawmakers and the Seminole tribe may have reached an agreement everyone can live with. But this pact will last only five years, not 20. Tampa's Derby Lane greyhound track (l.) won't get slots but will get higher betting limits for the dogs and for poker. 

FEATURES:

WEEKLY FEATURE: Bay State Bonanza

The long-awaited gaming expansion bill of Massachusetts House Speaker Robert DeLeo was announced last week, setting up the possibility of an epic battle between the Speaker and Governor Deval Patrick.

China In, Morgan Stanley Out at Atlantic City Casino

Beijing-based Export Import Bank may have the deep pockets necessary to fund what's left of Atlantic City's only ongoing casino construction site, Revel. But one day after the report on the possible investment was made, principal financer Morgan Stanley announced it would sell its ownership.

Dark Clouds Over Macau

Allegations of organized crime connections arise after a murder trial in Hong Kong implicates a top VIP operator. And government restrictions continue to grow. In addition to a cap on casino development to those projects already approved, the Macau government will limit the expansion of table games for the next three years.

Updated Online Gaming Bill Proposed

The Internet Gambling Regulation and Tax Enforcement Act, sponsored by Washington Rep. Jim McDermott, would share 6 percent of tax revenue collected from online gambling sites with state and tribal governments. 

Vancouver Gets C$450 Million Project

The billion-dollar project may be a thing of the past, but Vancouver, Canada is going ahead with plans for a downtown casino-hotel complex for around C$450 million. 

ALSO:

CityCenter Faces Lawsuit

Golf Tourney Set to Benefit NCRG

GLOBAL GAMING BUSINESS PODCAST: Kent Young, General Manager of Aruze Gaming America

FANTINI’S FINANCE: Paying Dividends

Bingo Hot Potato for Brazil

Seneca Litigation Moves Forward

Issue : Vol. 8 • No. 12 • March 29, 2010

GGB NEWS March 29, 2010

‘Boutique’ Casinos on the Beach?

In an effort to bring new development to Atlantic City, state Senator James Whelan pushes bill that would reduce required gaming space and number of hotel rooms. Some casino execs are up in arms, but an analysis says the numbers may not work.

FEATURES:

WEEKLY FEATURE: Showdown in Alabama

In historic face-off, the state attorney general, Troy King, fired the anti-gaming task force leader, who, one day later, filed suit to have seized bingo machines destroyed.

Report: Japan Considering Foreigners-Only Casinos

A piece in the Times of London last week suggested that Japanese officials were bandying about the idea of introducing foreigners-only casinos to the economically struggling nation. Aruze Gaming's Kazuo Okada is hopeful. 

New Hampshire Senate Passes Gaming

A wide-ranging bill introduced by two senators, Ron Wyden and Judd Gregg, that would reform the American tax structure includes provisions to tax, regulate and legalize internet gaming.

No More Delays for UIGEA

U.S. Treasury Secretary Tim Geithner has pledged to Senate Minority Whip Jon Kyl that he will not further delay implementation of UIGEA, the bill sponsored by Kyl that will prohibit the wireless transfer of funds connected to online gaming. 

Station’s Casinos For Sale

Station Casinos' holdings may be pared down to five properties, including the Red Rock Resort, instead of the 18 it currently owns if a bankruptcy reorganization plan is successful. The company said it plans to sell 13 of its Las Vegas casinos. 

ALSO:

Starwood Eyes Riviera

Could A Seminole Pact Be Near?

GLOBAL GAMING BUSINESS PODCAST: Sharon Anne Harrington, Vice Chairwoman, New Jersey Casino Control Commission

Kentucky Rules Against Websites

FANTINI’S FINANCE: A Return to M&A

Iowa Counties Present Pitches

Issue : Vol. 8 • No. 11 • March 22, 2010

GGB NEWS March 22 2010

Issue : Vol. 8 • No. 10 • March 15, 2010

GGB NEWS March 15 2010

Issue : Vol. 8 • No. 9 • March 8, 2010

GGB NEWS March 8, 2010

Reaching the Pinnacle

Missouri now has 13 casinos with the recent opening of Pinnacle Entertainment's River City Casino, a $375 million facility that opened near St. Louis. In addition, Pinnacle will have a chance to defend the lifting of its license for St. Louis' President Casino, and have a shot at moving the license to a new location. At left, Missouri Gaming Commission Executive Director Gene McNary (l.) delivers River City's gaming license to General Manager Todd George.

FEATURES:

WEEKLY FEATURE: Compromise Possible for Seminoles, Florida

A proposed gaming compact could be amended to include an escape clause for Florida, allowing the state to get its hands on millions from the tribe. Governor Charlie Crist has urged both sides to seek a resolution. 

Genting Hitting Stride in Singapore

Analysts believe that Resorts World Sentosa, the first casino to open in Singapore, is winning between $7 billion and $8 billion a day, easily meeting levels that would make the parent company, Malaysia's Genting, comfortable. 

No Casinos for Hawaii

Island state rejects two bills that would have established casinos in Hawaii, one of only two U.S. states that don't offer any form of gaming. One would have opened a single casino in the Waikiki area of Honolulu. 

Commercial Casinos On the Table in Michigan

The Racing to Save Michigan and Michigan Is Yours groups are petitioning to place two constitutional amendments on the November 2 ballot that would allow more casinos to be built in the state, including at the Detroit Airport.

FANTINI’S FINANCE: Rating the Recoveries

Regional casinos post best numbers in months, giving hope that the mid-American casinos will return soon rather than later. The same cannot be said, however, of the slot manufacturers. Hope that the long touted replacement cycle would begin in 2010 is slowly fading. 

ALSO:

B-I-N-G-O in Brazil

Kentucky Mulls Skill Games

GLOBAL GAMING BUSINESS PODCAST: Patti Hart, President & CEO, IGT

Chile Casinos Affected by Earthquake

Wynn Details Philly Plans

Accor to Sell Stake in Barriere Casinos

Tropicana Sale Closes in Atlantic City

Issue : Vol. 8 • No. 8 • March 1, 2010

GGB NEWS March 1, 2010

Wynn to Philly

Casino mogul Steve Wynn (l.) will come to Philadelphia, as Wynn Resorts has signed a deal to take over majority ownership of the troubled Foxwoods Philadelphia project. 

FEATURES:

Weekly Feature: New Giant for South Africa

Rival South African casino operators Gold Reef Resorts and Tsogo Sun have agreed a merger that will finally see the two combine their considerable assets. Each company brings seven casino resorts to the deal.

Las Vegas Sands: Singapore Opening April 27

An official opening date has been announced by Las Vegas Sands for Marina Bay Sands, its $5.5 billion project in Singapore. The debut will lag more than two months its chief competitor, Genting's Resorts World Sentosa.

Missouri Casino Closure Appealed

A wide-ranging bill introduced by two senators, Ron Wyden and Judd Gregg, that would reform the American tax structure includes provisions to tax, regulate and legalize internet gaming.

Station Sets to Emerge From Bankruptcy

Station Casinos recently announced that it has reached an agreement with its secured lenders, which could lead to the company's emergence from bankruptcy this summer, saving its ownership of 12 casinos, including its flagship, Palace Station.

Pennsylvania Power

The Pennsylvania Gaming Congress celebrates three years of success and predicts a new surge with the addition of table games to the state's casinos. Keynote speaker Philadelphia Mayor Michael Nutter is greeted by Marcel L. Groen, a partner in Fox Rothschild, one of the organizers of the event.

ALSO:

GLOBAL GAMING BUSINESS PODCAST: Andrew MacDonald, Senior Vice President of Gaming, Marina Bay Sands

MGM Mirage Gets Critical Debt Extension

Reorganized Ontario Gaming Organization Not Yet For Sale

Trump, Icahn Face Off in Court

Issue : Vol. 8 • No. 7 • February 22, 2010

GGB NEWS February 22, 2010

Here’s To Hollywood

The second of Kansas's four state-owned casinos has been approved to go forward. The Kansas Racing and Gaming Commission finished a background check last week and approved plans by Penn National Gaming Inc and International Speedway Corp. to build the Hollywood Casino just outside of Kansas City, as well as to Chisholm Creek, a casino near Mulvane, featuring partner Lakes Entertainment.

FEATURES:

WEEKLY FEATURE: Aqueduct ‘Scandal’ Simmers

State and federal inquiries will look at the closed-door deal, which losing bidders and the Senate minority leader say was the result of political favoritism. A Queens congressman says criticism of the multi-billion-dollar deal was sparked by racism. New York Senate Minority Leader Dean Skelos wants a public hearing. 

Hong Kong Court Issues Groundbreaking Credit Ruling

Wynn Resorts has won a case in a Hong Kong court that establishes the principal that Macau casinos can legally collect a gambling debt in that jurisdiction. 

Choctaws Open Oklahoma Casino Resort

The opening of the new $300 million Choctaw Casino Resort in Durant, Oklahoma was celebrated last week with a ribbon cutting and a lighting of the flames on the Towers and Fire Rings sculpture at the casino's entrance. 

New Jersey VLT Battle Shaping Up

As the governor charges a panel to seek solutions to save racing, a top lawmaker vows to kill any attempt to add slots to New Jersey racetracks. Senate President Steve Sweeny spoke before the Greater Atlantic City Chamber of Commerce last week. 

Melco Crown Closes Door on Casino #3

Melco Crown Entertainment receives refund on land it bought to build its third casino in Macau's Peninsula area near the Macau ferry terminal, effectively closing the door on any new casino.

ALSO:

Casino MonteLago to Close at Lake Las Vegas

New E.U. Attitude on Gaming Matters Envisioned

Guyana Princess Opening Soon

GLOBAL GAMING BUSINESS PODCAST: Barry Shier, Managing Principal, The Partner House

FANTINI’S FINANCE: Regional Reaction

Issue : Vol. 8 • No. 6 • February 15, 2010

GGB NEWS February 15, 2010

First Singapore Casino Opens

Genting's Resorts World Sentosa wins the race to become the first casino to open when it received its license early last week and opened in time for the Chinese New Year's celebration, always a very important holiday for the casino industry. Singapore residents have a separate entrance (l.). 

FEATURES:

WEEKLY FEATURE: Brother Vs. Brother in California

The issue of internet poker is dividing Indian gaming tribes in California, where a senate committee heard testimony on the proposal. Proponents, like Morongo Chairman Robert Martin, believe that internet gaming will pass them by if they don't legalize, regulate and tax the activity soon. 

MGM To Exit Atlantic City

Questions about the suitability of MGM Mirage's Macau partner Pansy Ho were raised by the New Jersey Division of Gaming Enforcement last year in a report that recommends rejection of the joint venture. Now, rather than fighting what it previously deemed as incorrect, MGM Mirage will sell its interest in the Borgata and walk away. 

Jamaica Ready for Casino Bill

The Jamaican parliament is ready to start debating the long-awaited casino gaming bill. With a draft scheduled to be submitted this week, there are still a couple of potentially deal-breaking issues to be examined. 

Hawaii Gaming Bills Advance

As one of the two states in the U.S. that doesn't allow any forms of gaming, Hawaii is taking a serious look at the industry by considering two bills in the legislature. Rep. Jon Riki Karamatsu authored a bill that would permit one casino in Oahu.

FANTINI’S FINANCE: Government Gambles

From a crusading governor in Alabama to a overachieving gaming commission in Missouri and beyond, the interference of the government and its agencies into business actions of casino companies and their service companies can have dire consequences. 

ALSO:

Finland Monopolies Going Online

GLOBAL GAMING BUSINESS PODCAST: Nick Casiello, Partner, Fox Rothschild, Atlantic City

Two California Gaming Tribes Sue State

Issue : Vol. 8 • No. 5 • February 8, 2010

GGB NEWS February 8, 2010

Harrah’s Targets Crown?

The largest American gaming company badly wants into the burgeoning gaming city of Macau. But Harrah's Entertainment is blocked by the "concession" and "sub-concession" system that limits the number of licensed operators in the city. One way in would be to buy the interest of a license holder and it appears that Crown Entertainment, co-owner of the City of Dreams (l.), is the target, although partner Lawrence Ho discounts the report.

FEATURES:

WEEKLY FEATURE: New Day in New Jersey

New Jersey's new governor, Chris Christie, appoints 7-member commission to study declines and possible mismanagement in gaming, sports and entertainment. Recommendations are due June 30.

Hawaii Eyes Gaming

In an effort to lure tourists in a bad economy, a Hawaiian legislator proposes a stand-alone casino in Waikiki. Revenues would be dedicated to Native Hawaiians. The Michigan company that owns Detroit's MotorCity Casino is interested. 

First Licensed Casino Opens in Russia

They said no one would be willing to open a casino in one of the undeveloped Russian gambling zones. But as usual, someone has chosen to defy popular opinion and do just that. It might not be Las Vegas, but it's a start.

Macau Scores Record—Again

January revenues in Macau hit a new high again. Following four months of dramatically increased revenues, January's numbers were up more than 50 percent over the same month the year before. SJM continues to control market share, as new casinos like Oceanus perform well. 

MGM Grand Looks at Sale of Borgata

Company values Macau partnership more than New Jersey operations. Sources say MGM could remain in Atlantic City if New Jersey regulators ease scrutiny of its Chinese business partner. 

ALSO:

FANTINI’S FINANCE: Brutal Realism

St. Regis Mohawks Approve Catskills Casino

Germany Site of Latest Mega-Rumor

Big Win at Big A

GLOBAL GAMING BUSINESS PODCAST: Kim Sinatra, Senior Vice President and General Counsel, Wynn Resorts

Issue : Vol. 8 • No. 4 • February 1, 2010

Consortium Wins Aqueduct Bid

After months of speculation and political infighting, the Aqueduct Entertainment Group, a consortium of seven partners, including the Navagante Group of Las Vegas, won the right to build and operate the slots casino slated for Aqueduct racetrack, New York’s busiest.

FEATURES:

WEEKLY FEATURE: President Impeached

The 60-year old St. Louis riverboat President Casino is likely to play its last hands on or around July 1. The Missouri Gaming Commission followed the recommendations of executive director Gene McNary, who wants to revoke its license for underperforming. 

Vegas in Miami?

Sheldon Adelson, who's about to open his fourth casino in Singapore, says South Florida could be his next "destination resort." The Las Vegas Sands CEO says one mega-resort in Miami or Fort Lauderdale could make more money for the state than seven Seminole casinos.

London Bridge to the Future

The historical role of an exposition has been to present its visitors with a glimpse of the future, as viewed through the lens of the latest manufactured products and prototypes. From that standpoint, IGE 2010 managed to fulfill its promise.

Delaware Approves Table Games

House has signed off on bill to bring poker, blackjack and more to the state's three racinos; now developers are proposing full-scale casino in Wilmington. 

WMS Plans Online Launch in U.K.

Another veteran, land-based casino supplier is venturing into the unknown wilds of online gaming. Slot machine and systems manufacturer WMS apparently wants to make internet gaming part of its own future, according to CEO Brian Gamache.

ALSO:

Resorts World Hotels Boost Sentosa Traffic

Greektown Shakeup

FANTINI’S FINANCE: Slot Sweepstakes

Chippewas Lose Canadian Casino Profits

GLOBAL GAMING BUSINESS PODCAST: Randy Fine, Managing Director, Fine Point Group

Issue : Vol. 8 • No. 3 • January 25, 2010

Genting Wins Singapore Race

The first casino resort opened in Singapore last week in a race that turned out to be over before it began. Genting's Resorts World on Sentosa Island opened several of its hotels with the casino (l.) scheduled to open as soon at the Singapore Casino Control Board issues the license, probably sometime in March. 

FEATURES:

WEEKLY FEATURE: It’s Icahn

Investor Carl Icahn is the winning bidder in the Fontainebleau bankruptcy sale with an offer of $156.2 million. Other bids were rejected for not meeting qualifications. And previous suitor, Penn National Gaming didn't even bid. 

Greektown Again in Play; Isle Deal in Doubt

An agreement between one of the owners of Detroit's Greektown Casino and the Isle of Capri to bring the company in as a management consultant is rejected by the bankruptcy court. Randy Fine and the Fine Point Group may return. 

Kentucky Governor Calls For Racinos

By inserting revenue from legalized slots at state racetracks, Kentucky Governor Steve Beshear is putting the legislature on the spot. But a bill in the legislature that would change the state constitution to allow gaming is being opposed by the racetracks. 

GLOBAL GAMING BUSINESS PODCAST: Don Marrandino, President, Eastern Region, Harrah’s Entertainment

This week, the Global Gaming Business Podcast features an interview with Don Marrandino, the president of Harrah's Entertainment's eastern region. He discusses his impressions of the Atlantic City market since his appointment six months ago. 

ALSO:

Ukraine Bill Suspends Gaming from Licensed Activity

FANTINI’S FINANCE: First Quarter Futures

New Jersey Considers Cyber-Gambling

Bally Acquires Games4you

Issue : Vol. 8 • No. 2 • January 18, 2010

Numbers Game

With December gross gaming revenues being reported and final 2009 figures emerging, it is becoming clear that the industry continues to struggle with the economic downturn, increased competition, market saturation and customer reticence. But a few bright spots are emerging in the darkness. 

FEATURES:

WEEKLY FEATURE: Online Indians

At its annual convention, one of the most contentious intra-tribal issues was raised in a public forum with an examination of the Morongo tribe's plan to legalize internet poker in California. Some tribal officials complain that opening up that market, which would include the state's card clubs, could destroy the Indian gaming industry in California.

Foxwoods Philly: What Next?

Pennsylvania's table-game law extends the deadline for Foxwoods Philadelphia as the casino's partners could replace Connecticut's Mashantucket Pequot tribe as the main investor and manager. GGB News has learned that Steve Wynn and Wynn Resorts may be the savior for the project. 

Boyd CEO Elected AGA Chair

Boyd Gaming CEO Keith Smith has been elected chairman of the American Gaming Association's board of directors, replacing T.J. Matthews, former chairman of IGT. 

Mozambique OKs Casinos but with Sell-by Dates

Operators expect a gaming license to come with a time limit. However, the new law in Mozambique, signed last week by President Armando Guebuza, while promoting more gaming development, also allows the government to take over a casino-and all its contents and associated businesses, with no compensation to the operator-when the license expires. 

ALSO:

Charitable Bingo Prepares To Go Silent In California

NIGC Selects New Commissioner

Tight Money Slams Macau

GLOBAL GAMING BUSINESS PODCAST: Michael Johnson, Dean, Cornell School of Hotel Administration

Brand New at Harrah’s

FANTINI’S FINANCE: The Roller Coaster Ride Continues

‘G’ Means “Good” for Rank U.K.

Issue : Vol. 8 • No. 1 • January 11, 2010

Issue : Vol. 7 • No. 49 • December 28, 2009

GGB NEWS December 28, 2009

COVER STORY:

Slots at the Mall
The Cordish Companies' planned slot casino at Arundel Mills Mall cleared its final legal hurdle when the Anne Arundel County Council approved a necessary zoning change. And now David Cordish says the company may apply to run the casino slated for Baltimore

FEATURES:

WEEKLY FEATURE: Macau Celebrates 10 Years in China
A visit from Chinese President Hu Jintao caps off a celebration that featured the installation of Fernando Chui as only the second chief executive of Macau under the umbrella of Mainland China. The gaming industry is cited as an important part of the SAR's economy, but the need to diversify is repeated again and again.

European Justice
A recent opinion from Yves Bot, an advisor to the European Court of Justice, may help define a clearer path forward in the ongoing debate on the legitimacy of monopoly operators in the gaming industry.

Boyd Prepares for Station Buyout
Boyd Gaming has set its sights on bankrupt Station Casinos and is planning to see through its $2.45 billion bid for the locals casino company. CEO Keith Smith says a new bank agreement should demonstrate the company's intent.

Conversations with the Bosses
Las Vegas Sands' Sheldon Adelson and Harrah's Entertainment's Gary Loveman sit down last week with reporters for year-end wraps and discussions about their companies.

Black Gaming Enters Bankruptcy
In a prepackaged bankruptcy deal, Black Gaming, the principal casino operator in Mesquite, Nevada, will emerge strong and with a better balance sheet.

Obama Supports Carcieri 'Fix'
President Barack Obama has signaled his support of efforts within Congress to do something legislatively about a Supreme Court decision that has stopped the putting of land into trust for tribes that were recognized after 1934.

ALSO:

FANTINI'S FINANCE: A Year in Review
Jamaica Racetrack Warns Against OTBs
Casinos Austria Named in U.K. Casino Bid
GLOBAL GAMING BUSINESS PODCAST: Kate Spilde, Sycuan Institute on Tribal Gaming, San Diego State University  

Issue : Vol. 7 • No. 48 • December 21, 2009

GGB NEWS December 21, 2009

COVER STORY:

Aria Awaits

Five years after its conception, CityCenter’s lone casino is finally open for the public to enjoy. Las Vegas hopes that Aria, along with the rest of the CityCenter complex, can bring the city into the future. Thousands enjoy grand opening ceremonies as the full breadth of CityCenter becomes apparent.

FEATURED STORIES:

WEEKLY FEATURE: Pennsylvania Table Mess Continues

Both chambers of the state legislature have passed table-game legislation, but changes added to the measure by the Senate could again bog the bill down. A new license that may be slated for the Eisenhower Inn & Conference Center in Gettysburg could also be a sticking point.

Boyd Sweetens Bid for Station

Boyd Gaming has long been interested in snapping up some of Station Casinos’ locals’ properties, including Red Rock Resort, and the company recently made a second offer.

Shinnecocks Poised for Federal Recognition

Preliminary approval is just a formality; it is now all but certain that official recognition from the Interior is forthcoming, paving the way for a tribal casino in New York.

Philippine Casino Contract Up for Bid

Mimosa casino at the former Clark Air Force Base consists of a resort with a golf course. One of the weakest performing of the PAGCOR casinos, it would have to compete with the Fontana, a casino resort operated by the Jimei Corp. of Hong Kong.

Baltimore Slot Plan Rejected

Maryland’s lottery facilities agency rejected a bid for a casino near Baltimore’s football stadium because of delays by the applicant in submitting a plan.

ALSO:

CNIGA Selects Chairman, Treasurer

GLOBAL GAMING BUSINESS PODCAST: David Patent, COO, Rush Street Gaming

Genting Subsidiary Lands Nile Ritz Casino in Egypt

Mangas Buys Controlling Share of Everest

National Betting Association

Issue : Vol. 7 • No. 47 • December 14, 2009

GGB NEWS December 14, 2009

COVER STORY:

Kansas Casino Opens This Week

A bidder for one of Kansas's state owned casino has been asked to rework its proposal by the Lottery Gaming Facility Review Board, which approved another proposal last week from Penn National Gaming. And a third casino, the Boot Hill Casino (above) in Dodge City, is ready to open. 

FEATURED STORIES:

WEEKLY FEATURE: CityCenter Preps for Next Step

With three pieces of CityCenter--the Vdara and Mandarin Oriental hotels and the Crystals retail center--open for business, the meta resort is preparing to open its long-awaited casino, Aria.

Phased Opening for Marina Bay Sands

Despite early resistance from the Singapore government about phased openings, Las Vegas Sands last week announced that its Marina Bay Sands would open in phases starting during the first quarter of next year. 

Okada Urges Japanese Gaming OK

The most recognized gaming industry veteran from Japan has put out a plea for his countrymen to legalize gaming. 

ALSO:

FANTINI'S FINANCE: Looking Ahead

First Ohio Casino Could Open by Late 2012

GLOBAL GAMING BUSINESS PODCAST: Tim Parrott, Chief Executive Officer, Shuffle Master Inc.

SJM Opens Major Macau Casino

Thunderbird Rejects Panama Government Claims

Harrah's Debuts Online Casino

Issue : Vol. 7 • No. 46 • December 7, 2009

Issue : Vol. 7 • No. 45 • November 30, 2009

Issue : Vol. 7 • No. 44 • November 23, 2009

Issue : Vol. 7 • No. 43 • November 16, 2009

GGB NEWS November 16, 2009

COVER STORY:

Falling From The Pinnacle

A nasty confrontation with St. Louis politician over the rezoning of land for another casino led to the resignation of Pinnacle Chairman and CEO Dan Lee (l.). The company acted quickly to replace him temporarily with board members who have extensive gaming experience.

FEATURED STORIES:

WEEKLY FEATURE: Ohio: Now What?

While successful at pushing Issue 3, the constitutional amendment that gives them the right to build four regional casino resorts in Ohio’s top metropolitan areas, Penn National Gaming’s Tim Wilmott and Dan Gilbert, now have to deliver. At the same time some politicians are trying to figure out a way to give the legislature a do-over on the hard-fought election.

Kentucky Slots Proposed

State Senator Damon Thayer is proposing a constitutional amendment that would approve video gaming machines in Kentucky, to be added to racetracks with possible other venues in the future.

Water Water Everywhere, Not a Drop to Drink

A drought in China could cause Macau’s casino industry to dry up as drinking water becomes more scarce. Not threatened are the water features of Macau casinos, such as the pools at the Venetian.

Codere Wins Uruguay Prize Bid

The winning bid to restore and operate the heritage-rich Hotel Casino Carrasco in Montevideo has been officially awarded to the Codere-Accor consortium. The $60-million project will take two years.

Two Macau Project Set to Resume

Las Vegas Sands, which is hoping a huge IPO is successful, and Galaxy Entertainment, one of the more profitable Macau gaming companies, will re-start construction on their Cotai Strip project in January. LV Sands’ parcels 5 and 6 are pictured at left.

ALSO:

GLOBAL GAMING BUSINESS PODCAST: James Maida, President, Gaming Laboratories International

Aqueduct Announcement Near

Joaquín Franco Muñoz, Co-founder Recreativos Franco and Codere, Passes

World Poker Tour Sale Completed

Issue : Vol. 7 • No. 42 • November 9, 2009

Issue : Vol. 7 • No. 41 • November 2, 2009

Issue : Vol. 7 • No. 40 • October 26, 2009

GGB NEWS October 26, 2009

COVER STORY:

Money Matters At MGM Mirage

Kirk Kerkorian (l.) questions the wisdom of his major investment in MGM Mirage, while the company announces non-cash charges and a lower valuation of its centerpiece, the CityCenter project, due to open in December.

FEATURED STORIES:

Florida Stymies Seminole Compact

Lawmakers canceled an October meeting to consider a deal with the tribe, and a November special session seems unlikely. Now the issue could drag on into 2010, much to the chagrin of Seminole Council Member Max Osceola .

Setting the Tables in Pennsylvania

Lawmakers in Pennsylvania continue to haggle over a tax rate for table games as Governor Ed Rendell demands a higher state share of revenues.

Victoria II

The giant Crown complex in Melbourne has long been the state of Victoria’s only casino--but only because nobody has ever come with an additional casino proposal. That situation could change if a new plan goes forward to put a casino on the grounds of the historic Grand Hotel  in the town of Mildura.

Religion & Politics

Steve Wynn’s views on the policies of the Obama administration are apparently not shared by other members of the gaming industry, who wish he would just shut up.

Aqueduct Bidders Under Scrutiny

Governor David Paterson reportedly waffled on Aqueduct Entertainment's ability to pass commission screening due to “structural defects”; Steve Wynn flexes financial muscle with bond sale.

ALSO:

Frozen Margarita in Venezuela

Kentucky Hears Online Arguments

Kentucky Republicans Push Amendments

GLOBAL GAMING BUSINESS PODCAST: Atlantic City Mayor Lorenzo Langford

Issue : Vol. 7 • No. 39 • October 19, 2009

GGB NEWS October 19, 2009

COVER STORY:

Slovakia Readies for Harrah's

Another billion-euro leisure development has been announced for the Vienna-Budapest-Bratislava region. In line to operate the project's planned casinos and hotels is Harrah's Entertainment Inc., along with developer TriGranit, which built the Millennium Towers (above left), an impressive group of office buildings in Budapest, Hungary.

FEATURED STORIES:

WEEKLY FEATURE: Visa Volatility

Beijing re-imposes visa restrictions as Macau government considers raising the gambling and capping the number of table games offered in the Chinese enclave.

Satre Named IGT Chairman

The former CEO of Harrah's Entertainment, Phil Satre, has been named chairman of the board of directors for slot manufacturer International Game Technology.

Korean Contraplex

Strong business at Korea's foreigners-only casinos has allowed one operator to expand a successful venue, the Seven Luck Gangnam in Seoul. However, the one casino where Korean citizens are allowed to play may be doing too well for its own good.

Table Time in PA

The Pennsylvania Senate passed a table-game bill including a 12 percent tax, and state House leaders appear ready to lower their much-higher tax rate in a compromise bill. And since Governor Ed RendelL has already signed a budget, there is no time to spare.

Wynn Gets Garth

Las Vegas may have more rhinestones than cowboys, and if Donny and Marie aren't country enough (or rock and roll enough, for that matter) for you, have no fear: Garth Brooks is here.

ALSO:

Off-Rez Gaming Still Being Discussed

A Cautionary Tale

Lanni Has Cancer

House Passes Travel Act

GLOBAL GAMING BUSINESS PODCAST: Phil Hogen, Former Chairman, National Indian Gaming Commission

Issue : Vol. 7 • No. 38 • October 12, 2009

Issue : Vol. 7 • No. 37 • October 5, 2009

Issue : Vol. 7 • No. 36 • September 28, 2009

Issue : Vol. 7 • No. 35 • September 21, 2009

Issue : Vol. 7 • No. 34 • September 14, 2009

Issue : Vol. 7 • No. 33 • August 31, 2009

Issue : Vol. 7 • No. 32 • August 24, 2009

GGB NEWS August 24, 2009

COVER STORY:

Colony’s Atlantic City Headaches

Two casinos owned by Colony Capital sink deeper in the financial abyss, as it releases one, Resorts Atlantic City, to its debtor and defaults on its mortgage on the other, the Atlantic City Hilton, according to CEO Nicholas Ribis in place.

FEATURED STORIES:

BREAKING NEWS: Delaware Sports Bets Banned

A federal appeals court rules that the state plan to accept single-game sports bets starting in September violates the federal ban on sports wagering even though Delaware is one of four states grandfathered in by the 1992 legislation.

WEEKLY FEATURE: Rules for Racinos

The Ohio Lottery Commission last week adopted rules that will make it possible to install video lottery terminals in the state’s seven racetracks by next May. Meanwhile a battle is beginning on a proposed constitutional amendment that would authorize four regional casinos in the state, with Cleveland Cavaliers’ owner Dan Gilbert as a major supporter.

Macau: Visa Restrictions May Be Eased

The onerous restrictions on travel for Chinese mainland residents may be eased as a new chief executive seeks to kick-start economy.

Going Hungary

There seems to be no shortage of international companies willing to put up huge casino resorts in Hungary. The latest announcement is part of a project being led by a couple of guys who seem to have the clout to get it done. The project is planned for Lake Velence, near Budapest.

Slow It Down, Says NIGA

The National Indian Gaming Association is asking President Barack Obama to appoint a new chairman to the National Indian Gaming Commission to replace Phil Hogen and to stop the NIGC from making revisions to gaming regulations until such an appointment is made.

ALSO:

FANTINI'S FINANCE: Confidence and Consequences

Uruguay’s 24

Kansas Lottery Commission Approves Casino Bids

Strange Bedfellows

Aqueduct ‘Seven’ at Finish Line

Perry Named to Head Isle Board

Marrandino Boardwalk Bound

Station Casinos Founder Dies

Issue : Vol. 7 • No. 31 • August 17, 2009

GGB NEWS August 17, 2009

COVER STORY:

Rivers Rolls

The $780 million Rivers Casino makes its debut on the shores of the Ohio River in Pittsburgh, giving Pennsylvania its ninth operating slot casino.

FEATURED STORIES

WEEKLY FEATURE: Macau Government Sets VIP Rate

After several casinos acted on their own, the Macau government has issued regulations aimed at capping the VIP commission paid to operators who bring gamblers in from other regions, principally Mainland China. At left, a high-limit VIP room at Galaxy’s StarWorld in Macau.

Montevideo Games

The competition to refurbish Montevideo’s Hotel Carrasco and operate a casino inside the 100-year-old building was won months ago by a consortium of Spain-based gaming operator Codere and France-based hotel group Accor. However, runner-up bidder Liberman-Hyatt refuses to accept the decision, claiming the city violated its own judging criteria.

Harrah’s Racing to Ohio

Harrah’s Entertainment is showing interest in Ohio now that the Buckeye State has legalized slot machines in its seven racetracks., including Thistledown racetrack near Cleveland. Complicating that is the resignation of the state lottery director. But on the horizon is the initiative that would authorize Las Vegas style casinos in the state’s four biggest cities.

Trump Bondholders Fight Back

As The Donald touts his return to the Atlantic City casino game, bondholders battle for control of the three casino resorts and plan the sale of Trump Marina.

Cold Water for Macau

Chinese Premier Wen Jiabao says tough times not over for Macau at the official sanctioning of new SAR chief executive.

ALSO:

Australian Challenge

Shakeup in Singapore

Power Poker Play

Michigan Casino Opens With Great Fanfare

FANTINI'S FINANCE: Come On, Let's Grow

Issue : Vol. 7 • No. 30 • August 10, 2009

GGB NEWS August 10, 2009

COVER STORY:

Trump Retakes Atlantic City

Pending approval from a bankruptcy court judge, real estate titan Donald Trump is set to reacquire his three Atlantic City casinos. Bondholders and shareholders are furious; under the plan as envisioned by Trump and a lending partner, they will walk away with nothing.

FEATURED STORIES:

WEEKLY FEATURE: Ho Starts Recovery

Macau gambling legend 87-year-old Stanley Ho went under the knife last week in Hong Kong. His company, SJM, would give no more details other than he emerged from surgery in "satisfactory" condition.

MGM To Restructure Macau Casino

With one of the smallest market shares in Macau, but one of the most spectacular casinos, MGM Mirage Chairman Jim Murren says the company plans to make changes in management and marketing to increase business

First Guatemala, Then The World

Seattle developer sees potential for mega-tourism and gaming in developing countries; Jim Alekson will start with half a dozen gaming licenses in Central American country of Guatemala, one possibly near the Mayan ruins of Tikal.

Ohio Supreme Court Sends Initiative To Ballot

A ballot initiative that would authorize four regional casino resorts in Ohio's largest cities, including Cincinnati, is headed for the November 3 ballot. The Supreme Court rejected challenges to the signature gathering-process last week.

FANTINI'S FINANCE: When Down Looks Like Up

Earnings reports by three American companies involved in Macau reveal weakness in almost all segments of their business operations, yet the response from investors was varied when it came to the stock prices. Go figure!?

ALSO:

Trash Talk Goa-Style

Senator Introduces Bill to OK Online Poker

Two Tribal Casinos Open

Baltimore Slot Casino Moved

Issue : Vol. 7 • No. 29 • August 3, 2009

GGB NEWS August 3, 2009

COVER STORY:
Bankruptcy Station
Las Vegas-based Station Casinos, a major player in the Las Vegas locals casino business (the company's original casino, Palace Station, above), filed for Chapter 11 bankruptcy protection after negotiations with lenders to finalize a prepackaged bankruptcy fizzled out.

FEATURED STORIES:
WEEKLY FEATURE: Macau Elects New Leader
Fernando Chui becomes Macau's new chief executive in the first handover of power in the SAR since China took it over in 1999. Chui's support of the gaming industry in initial statements is encouraging to operators.

Crown Melbourne Set to Grow
Australian casino operator Crown Limited is about to increase the number of table games at its Crown Casino in Melbourne, Australia by over 40 percent. The compromise with state government will see the casino pay a higher tax on money it makes from slot machines.

Macau: Gaming Association Official
The organization of the six casino operators in Macau promises to bring cooperation on important issues and reduce the cutthroat competition currently experienced in the SAR. Stanley Ho is elected the group's first president.

Delaware Deal on Tables
The panel charged with formulating regulations for the addition of table games to Delaware's three racinos have reached agreement on a tax structure for the games.

Seminole Standoff Continues
It's become a staring contest between the influential tribe and Florida legislators, who don't want to make any concessions in the pending gaming compact. Who will blink first? Not Governor Charlie Crist, who sides with the tribe.

ALSO:
More Illinois Action
Princess Guyana Coming in October
FANTINI'S FINANCE: Mega Resorts
GGB PODCAST: Mac Seelig, President, AC Coin & Slot

Issue : Vol. 7 • No. 28 • July 27, 2009

GGB NEWS July 27, 2009

COVER STORY:
Going Public in Hong Kong
Wynn Resorts becomes the latest company hoping to spin off its Macau operations, including the under-construction, Encore Macau, with an IPO. Discussions that would do the same for Las Vegas Sands are ongoing and insiders say it will occur by the end of the summer.

FEATURED STORIES:
WEEKLY FEATURE: Ohio Goes Gaming Again
Despite widespread signature gathering irregularities, the four regional casino initiative put forward by Ohio Jobs and Growth Plan is headed for the November ballot. This is not good news for Governor Ted Strickland, who has ordered 17,500 video lottery terminals to be installed among the state's seven racetracks. Both gaming developments were challenged in court last week, one by MTR Gaming, the owner of the racetrack Scioto Downs.

More Details About Gaming in Taiwan
Hints about the casino legalization process keep leaking out as interest in the casino licenses for the Penghu islands grows. And Taiwan President Ma visits the island to stress that Taiwanese gaming will only be legal on Penghu.

Feds to Probe Legality Of Delaware Sports Betting
Two U.S. senators, including Utah's Orrin Hatch, are asking the federal attorney general to look into the legality of Delaware's new sports betting law, and into the New Jersey challenge of the federal ban on sports wagering.

Kansas Casino Deadline Extended
Once again no one has stepped forward to bid to build a regional, state-owned casino in Kansas's Southeast Zone. But hope springs eternal and the Kansas Lottery Commission will again entertain bids in three months. This is the third time the deadline has been postponed. Also, the Camptown Greyhound Park may also be revived.

Poker A Sport No More In Russia
The acceptance of poker as a government-sanctioned sport promised to provide Russian gaming operators with a loophole. Now, that loophole has been closed.

ALSO:
Illegal Casinos Fill Ukraine Void
Greektown Casino Tribe May Lose It To Bankruptcy
FANTINI'S FINANCE: Marketing Means Money
GGB PODCAST: Kevin DeSanctis, CEO, Revel Entertainment

Issue : Vol. 7 • No. 27 • July 20, 2009

Issue : Vol. 7 • No. 26 • July 13, 2009

GGB NEWS July 13, 2009

COVER STORY:

Turnaround Time?
Are the equity markets starting to loosen up? Some analysts believe they are as there continues to be evidence that year-over-year revenue declines even out and corporate ratings begin to stabilize. The two exceptions to this trend appear to be Las Vegas and Atlantic City. But Kevin Desanctis, the president and CEO of Revel Entertainment, says he expects to get the final funding for his Boardwalk project in Atlantic City by the end of the year.

FEATURED STORIES:

Weekly Feature: East Coast Throw Down
Two traditional gaming rivals in Connecticut have decided that the rival of my rival is my friend. The Mohegan Sun and Foxwoods Casinos have joined marketing forces with a campaign that makes fun of Atlantic City as "the Boredwalk" and the "Jersey Snore," to try to lure business away from New Jersey.

Ups and Downs for Las Vegas Sands
The opening of the Marina Bay Sands project in Singapore has been delayed until early 2009, but construction is expected to resume on the Macau Cotai Strip project by the end of the year, capping a busy week for Las Vegas Sands that continued speculation about a Macau IPO.

New BIA Director Takes Office
A new head of the Bureau of Indian Affairs, Larry Echo Hawk, has been sworn in. This former law professor and attorney general has many challenges ahead, including a recent Supreme Court Ruling that many tribes abhor, and a possible revision of the bureau's gaming regulations.

Jamaica Gaming Bill Painstakingly Prepared
Jamaica appears to be using the current economic malaise to ensure it has the right legislation in place when work on its fledgling casino industry resumes at some point in the future. The prime minister, Bruce Golding, wants developers to know they will be expected to live up to all pre-set conditions.

Bernie Goldstein, 'Father of Riverboat Gaming,' Dies
Isle of Capri Chairman Bernie Goldstein, who pioneered the first riverboat gaming operations in the U.S. and built Isle of Capri Casinos into one of the nation's largest operators, is dead at 80

ALSO:

Harrah's Aims for Strip Fun
Roger Thomas to Receive Casino Design's 2009 Sarno Lifetime Achievement Award
Court Seems Unlikely To Overturn UIGEA

Issue : Vol. 7 • No. 25 • July 6, 2009

GGB NEWS July 6, 2009

COVER STORY:

Russian Casinos Close Quietly
The Russian authorities have followed through on their promise to shut down casino gaming across the nation. The ball is now in the operators' court. Will they put their energies into developing the new gambling zones or creating underground clubs in the major cities? Or will they just take their business elsewhere?

FEATURED STORIES:

Weekly Feature: Singapore Casinos Nearing Completion
The two casinos slated for Singapore, the Las Vegas Sands' Marina Bay Sands and Genting's Resorts World Sentosa, are nearing the end of their construction process and slated to open early in 2010.

Hard Rock Resort Coming To Hungary
European plans for Las Vegas-style casino resorts have experienced difficulties getting past the planning stages. Now, a project in Hungary that some had given up on has acquired an experienced Las Vegas operator as a development partner.

Gran Scala Law Passes Spanish Parliament
The largest casino resort and family leisure complex ever planned for Europe is another step closer to realization. With a custom-tailored law in place and the first land purchases ready to close, the future of Gran Scala is looking more promising than ever.

Early Results Impressive for City of Dreams
Melco Crown's City of Dreams in Macau claims a million visitors in less than one month, with other revenue and visitor reports also positive, for the most part.

Penn National Gaming Presents Renovated Indiana Casino
Hollywood Casino Lawrenceburg is twice as big as old Argosy riverboat; "bigger is better" philosophy anticipates possible new competition in Kentucky, while being aggressive in Ohio.

FANTINI'S FINANCE: Gaming Stocks Looking Up
First half of 2009 is a good period for gaming stocks as they outpace the market during the period.

ALSO:

Jamaica To Debate Gambling Soon
Japanese Region Eyes Casino
GGB Podcast: Union Gaming Group's Bill Lerner, Rich Moriarty and Grant Govertsen

Issue : Vol. 7 • No. 24 • June 29, 2009

GGB NEWS June 29, 2009

COVER STORY:

Kentucky Bails, Ohio Sails
A bill to add video lottery terminals to Kentucky's racetracks, pushed by the governor as necessary to save racing, died in a state Senate committee. But in Ohio, gaming got a boost from the previously anti-gaming governor, Ted Strickland, where the possibility remains for four casino complexes in the state's major cities.

FEATURED STORIES:
WEEKLY FEATURE: End Nears For Russian Casinos
The Russian government is in the process of closing down all casino and slot gaming businesses as planned (workers remove signs at one small Moscow casino). With no legal gaming options available after July 1, Russian players are expected to head for summer resorts on the Black Sea and in the Mediterranean for immediate relief. What happens come autumn is anybody's guess.

Single Candidate Emerges as Macau Leader
Not much is known about the former government official linked to the administration of the previous chief executive. Less is know on his intentions about issues of importance to the gaming industry.

MGM Not Selling Casinos; Drops Bankruptcy Warning
The Treasure Island will probably be the only Las Vegas sold by the company now that MGM Mirage CEO Jim Murren said he doesn't have any plans to sell any other casinos in Las Vegas because of low offers. And the company drops 'going concern' warnings in latest SEC filing.

August Casino Vote Set in Taiwan
Penghu County residents will go to the polls to voice their opinions on plans to bring gaming to the islands; Harrah's, MGM interested.

Taiwan Casino Referendum Planned
Taiwan is another step closer to casinos now that the central government will allow a casino referendum in Penghu County.

Tribe Hasn't Given Up On North Dakota Casino
Two years ago the Turtle Mountain Casino looked finished. But now, with economic times hard, the Turtle Mountain Band of Chippewa in North Dakota are finding more enthusiasm for a casino in Grand Forks.

Situation Fluid in Goa
With the elections and anti-casino campaign rhetoric now safely in the past, Goa politicians are getting down to the real business at hand. The casino ship situation is changing fast, and some surprises await those who thought the opposition was against all casino gaming.

ALSO:
Antigua Online Official Suspended
Report Says Macau Starting to Rebound
Monte-Carlo Feels Effects Of Global Downturn

Issue : Vol. 7 • No. 23 • June 22, 2009

GGB NEWS June 22, 2009

COVER STORY:

MGM Mirage Making Moves

Company looking to build non-gaming luxury hotel near the most popular pyramids in Egypt and partner with Genting in Macau, while continuing construction CityCenter in Las Vegas and efforts to reduce its massive debt.

FEATURED STORIES

Fontainebleau Bankruptcy Moves Forward

Fontainebleau Las Vegas has dropped its federal lawsuit against lenders and is moving the case into bankruptcy court where the judge ordered the parties to enter mediation. James Packer writes down investment in project to zero; lenders finally explain reasons for default.

Kentucky Speaker Uses Education as a Wedge

As a bill to add slots to racetracks across the state is introduced to a special session of the legislature, politicians on both sides of the issue begin a public debate. House Speaker Greg Stumbo suggests that any legislator who doesn’t vote for the bill can forget about education funding.

Duel Over South Africa License

The public competition for a single casino license to operate the Boardwalk casino is inciting fans and detractors of both companies involved. It will be August before a winner—and a loser—is declared.

Early Results Impressive for City of Dreams

Melco Crown’s City of Dreams in Macau claims a million visitors in less than one month, with other revenue reports also positive.

Roadblocks To Seminole Compact In Florida Put $2 Billion At Risk

Proposed deal, which permits Class III slots to replace the former Class II versions, means $150 million a year for the state for 25 years; tribe says without guarantee of exclusivity, they owe nothing.

ALSO:

Taiwan Casino Referendum Planned

FANTINI'S FINANCE: Recession Spurs Legalization

Indiana Wants More Gaming?

Michigan Casino Opens With Great Fanfare

FANTINI'S FINANCE: Come On, Let's Grow

Issue : Vol. 7 • No. 22 • June 15, 2009

GGB NEWS June 15, 2009

COVER STORY:

Fontainebleau Fails
Strip property has been in financial trouble since a number of lenders backed out of the project and now seeks bankruptcy protection.

FEATURED STORIES:

WEEKLY FEATURE: E.U. Says U.S. Online Policy Blocks Trade
The online gaming policy of the U.S. in recent years has been anything but friendly to foreign operators. Now, a report following an investigation into the matter by the European Commission is officially saying that U.S. policy is in breach of WTO rules.

U.S. Locks Up Poker Winnings
The U.S. Attorney for the Southern District of New York instructed three banks to freeze accounts holding poker winnings totaling more than $30 million.

Kentucky Gets Down To Business
Governor Steve Beshear, backed by Kentucky Derby winning jockey Calvin Borel, is proposing casino gaming to be considered in an upcoming special legislative session, as a way to save 100,000 jobs in Kentucky's racing industry.

New York Tribe Floats Plan To Run Gaming At Belmont Park
Pending long-awaited federal recognition, Shinnecocks already forming proposal for racino at Belmont Park near New York City.

Genting Grabs Stake In MGM Mirage
Malaysian gaming giant eyes possible purchase of MGM Grand Macau after negative assessment of partner Pansy Ho by New Jersey.

Seminoles Balk at Deal with Florida
What was once thought to be a "win-win" for the state and the tribe is now a contentious, unfair agreement that is likely to be rejected by the Seminoles, who now offer Class III gaming at their Seminole Hard Rock casino in Hollywood.

Seminoles Balk at Deal with Florida
What was once thought to be a "win-win" for the state and the tribe is now a contentious, unfair agreement that is likely to be rejected by the Seminoles, who now offer Class III gaming at their Seminole Hard Rock casino in Hollywood.

ALSO:

Gran Scala Nears Last Legal Hurdle In Spain
Russian Ministry Asks Putin To Reconsider Deadline
French Legislation Doesn't Meet EC Standards
Simple Solution To Goa Casino Controversy

Issue : Vol. 7 • No. 21 • June 8, 2009

GGB NEWS June 15, 2009

COVER STORY:

Dream On...
The City of Dreams in Macau opened last week. Located on the Cotai Strip directly across from the Venetian, the performance of COD will be closely watched by competitors and future developers alike.

FEATURED STORIES:

WEEKLY FEATURE: G2E Asia: Down but still vital
Lower attendance figures didn't mean less quality, as G2E Asia produced news and featured state-of-the-art technology, education and networking.

One Up, One Down in Atlantic City
Two Atlantic City casinos were the subject of news about new ownership last week: A group of investors including billionaire Carl Icahn secured ownership of the troubled Tropicana Atlantic City, while Trump Entertainment Resorts called off the deal to sell Trump Marina to a development group that wanted to transform the aging property into a Margaritaville-themed casino, but the operator still wants to sell the casino.

EchoHawk Confirmed
Larry EchoHawk was confirmed as the assistant secretary of Indian affairs at the Department of the Interior at a Senate hearing last week, where he got extensive support from Senator Daniel Inouye of Hawaii.

Legalized Video Poker Awaits Illinois Governor's Pen
The Illinois legislature has passed a bill that would allow as many as 45,000 video poker machines in bars, restaurants and clubs all over the state. Now Governor Pat Quinn has to decide whether to sign it. But lawmakers are also looking to expand the number of casinos in the state.

Russian Region To Sell Land
At the end of June all legal casino and slot operations in Russia are expected to come to a halt. None of the four designated gaming zones has made much progress--but at least Kaliningrad is ready to start selling land.

FANTINI'S FINANCE: The Thaw Continues
As credit frees up, it opens many options for operators that have solid balance sheets and great location.

ALSO:

Isle Of Capri Extends Transition At Bahamas Lucaya Resort
UNITE HERE Leader Resigns
GGB Podcast: Randy Fine, Managing Director, Fine Point Group

Issue : Vol. 7 • No. 20 • June 1, 2009

GGB NEWS June 1, 2009

COVER STORY:

Genting Shows Interest In MGM Grand Macau

In wake of a New Jersey report calling MGM Mirage partner Pansy Ho “unsuitable,” Malaysian-based Genting buys $100 million in MGM bonds and is showing interest in buying the MGM Grand Macau.

FEATURED STORIES:

WEEKLY FEATURE: Illinois: They’re Baaackkk!

Lawmakers in Illinois are looking at a plan to expand gambling in order to address a state budget shortfall, even though House Speaker Michael Madigan says it’s dead.

Congress Looks For Solution To Carcieri Decision

Tribes and members of Congress are getting together to see how legislation can solve some of the issues brought up by the recent Carcieri decision that would limit off-reservation casinos. A hearing of the Senate Indian Affairs Committee, chaired by Senator Byron Dorgon met last week.

Casinos Austria Sells Gold Reef Stake To Allan Gray

Gaming concern Casinos Austria is out to expand its field of operations this year, with moves into areas of gaming other than its traditional casino product and a renewed focus on businesses in which it holds a majority stake. This sale of a minority interest in an African company, whose flagship is Gold Reef City in Johannesburg, gives the operator extra cash and time to spend on its new goals.

Massachusetts Senate Vetoes Racetrack Slots

Current talks show the conversation has begun about one or more casinos; in New England, Massachusetts is the only gaming holdout. George Carney, who owns Raynham-Taunton Greyhound Park, is apparently out in the cold.

Ukraine Heading For A Fall

The temporary shutdown of all casinos and slot halls in Ukraine following a deadly fire in one business may prove to be somewhat more than a temporary situation.

ALSO:

Delaware Supreme Court OKs Sports Betting Plan

Harrah's To Launch Online Poker In Europe

Details Of Crown-Victoria Tax Deal Emerge

FANTINI'S FINANCE: Crossing Our Fingers

Schaeffer exits Fontainebleau Resorts

Issue : Vol. 7 • No. 19 • May 25, 2009

GGB NEWS May 25, 2009

COVER STORY:

New Jersey Regulators Find MGM Macau Partner ‘Unsuitable’

The New Jersey Division of Gaming Enforcement submits a report to the state Casino Control Commission that calls for the denial of approval for a partnership between Pansy Ho (l.) and MGM Mirage for the MGM Grand Macau and other ventures.

FEATURED STORIES:

WEEKLY FEATURE: A Call To Arms

The East Coast Gaming Congress focuses on Atlantic City, and the challenges the city faces in the near term to meet increasing competition, while offering cautious optimism on the industry at large.

Ukraine Casinos Go Dark

The parliament of Ukraine has voted to ban all gaming except lotteries and ordered the administration to draw up a plan to remove all gaming from the cities to not yet designated gambling zones, including the Casino Chance in Lviv, Ukraine.

Gaming Reform Eyed In Bahamas

Reform chairman and former PM say Bahamas could reap million if it “regularizes” gaming industry and gives all Bahamians access to casinos, including the spectacular Atlantis on Paradise Island.

Senecas, Rotate Black “Ready To Go” On $1.3B Catskills Resort

Despite contradictory reports about available credit, Seneca Chairman Barry Snyder says the new resort will help revitalize New York’s Catskill Mountains as a tourist mecca.

MGM Mirage Completes Restructuring

Stock sale and private notes raise $2.6 billion, but company might not be in clear yet, as Kirk Kerkorian yields majority ownership.

ALSO:

FANTINI’S FINANCE: Conventional Wisdom

Risk Taking Conference Slated For This Week In Lake Tahoe

Issue : Vol. 7 • No. 18 • May 18, 2009

GGB NEWS May 18, 2009

COVER STORY:

Delaware Gets Sports Betting, Table Games

A week after the state House narrowly rejected sports betting because of an attached tax increase, a compromise bill, with a lower tax hike and authorization for both sports betting and table games in Delaware’s racinos, was signed into law. Dover Downs’ Ed Sutor (l.), however, says the devil is in the details.

FEATURED STORIES:

WEEKLY FEATURE: 7 Bidders Line Up For Rights To Aqueduct Racino

It’s a crowded field as all of last year’s contenders give it another try, along with Penn National, Steve Wynn, and several minority-owned business groups. New York Governor David Paterson wants to see a choice made quickly.

Crown Gets New Tax Deal, More Tables In Melbourne

A last-minute deal with the Brumby administration in Victoria has raised the tax rate on pokies at Melbourne’s Crown Casino, but given the property man more tables.

AGA’s ‘State Of The States’ Report Shows Industry Hard Hit, But Resilient

Despite brutal conditions, commercial casinos remain vital economic contributors to their communities and to the nation, says Frank J. Fahrenkopf, Jr., president and CEO of the AGA.

LV Sands Lays Off More Macau Workers; Considers Asian IPO

As first quarter numbers continued to show declining revenues in Macau, Las Vegas Sands has announced it may lay off as many as 3,000 more workers and could issue an IPO for its Macau properties, including the Four Seasons.

Interview with Hard Rock's Mark Gore and Phil Shalala

This week, the Global Gaming Business Podcast features an interview with Mark Gore, the vice president and general manager, and Phil Shalala, the vice president of marketing, of the Hard Rock Hotel in Las Vegas.

ALSO:

First Woman Casino Owner Dies

Wynn, Friedmutter Receive Design Awards

More Colleges Join Research Into Problem Gambling

Connecticut Casino Smoking Ban Goes Up In Smoke

Issue : Vol. 7 • No. 17 • May 11, 2009

GGB NEWS May 11, 2009

COVER STORY:

Congress Considers Bill to Reverse Online Gambling Ban

Lawmakers introduced legislation designed to repeal the online gambling ban in the U.S. and establish a system for regulating the industry.

FEATURED STORIES:

WEEKLY FEATURE: Seminoles, Tracks Reach Deal in Florida

Tribe can keep tables, Class III slots in South Florida; tracks get lower tax rate; other tracks can get slots.

Melco Crown set to open City of Dreams in Macau on June 1

Company’s most ambitious project to date will debut early, on June 1, and bring to Macau what is likely to be the last mega resort to open for a few years. CEO Lawrence Ho calls COD his company’s “flagship.”

Russian Leader Says ‘Nyet’ to Deadline Change

The president of Russia intends to see all gambling halted come June 30—except for operations within the four designated gambling zones.

Delaware Sports-Betting Bill Fails

The Delaware state House failed to achieve the required three-fifths majority to add sports betting to the gambling options permitted under the state Constitution, due to objections from racinos, including Dover Downs, over a proposal to raise the gaming tax.

Landlord Seeks Bank Rent From Binion's, Four Queens

Landlords for property on which Binion's hotel and casino sits in Downtown Las Vegas are suing the owner of the casino for back rent.

ALSO:

FANTINI’S FINANCE: Bargain Basement

Tribes Urge Common Strategy on High Court’s Carcieri Decision

GGB Podcast: John Donnelly, Partner, Levin Staller, Atlantic City

Issue : Vol. 7 • No. 16 • May 4, 2009

GGB NEWS May 4, 2009

COVER STORY:

Deal Secures Future Of CityCenter
MGM Mirage and Dubai World announced an agreement with lenders that will ensure that construction on CityCenter will continue and the project will open as planned.

FEATURED STORIES:

WEEKLY FEATURE: Tropicana Bankruptcy Sale Approved In A.C.
The landmark casino has operated without an owner since December 2007. With a would-be buyer in place and a bidding floor of $200 million, it's time to go to court.

Melco Crown Re-Brands First Macau Casino
With the City of Dreams opening in a few weeks, Melco Crown has changed the name of Crown Macau to Altira Macau, launching a new brand and issuing another public offering.

Casinos Austria In Possible U.K. Project
The city that once eagerly awaited a “super-casino” is now evaluating other ways to experience an economic rebirth. A meeting between city officials and a director of Apollo Casino Resorts point to the inclusion of at least a gaming venue, if not a super-sized one.

FANTINI’S FINANCE: Regional Rescue
Non-Las Vegas or Atlantic City casinos have proven to be most resilient during this economic downturn, and we can still fall back on them.

ALSO:

NIGA Calls For Hogen To Step Down
Layoffs Begin At Fontainebleau, While Lawsuit Could Get Interesting
California Explores Legal Online Poker
Canadian Gaming Summit Considers Cross-Border Issues

Issue : Vol. 7 • No. 15 • April 27, 2009

GGB NEWS April 27, 2009

COVER STORY:

Fontainebleau Failure?

The next resort scheduled to open in Vegas has filed a $3 billion lawsuit against its lenders alleging they are backing out of the project after a default, which is denied by Fontainebleau Resorts.

FEATURED STORIES:

WEEKLY FEATURE: Seminole Game Plan

Two completely different plans emerge from the Florida legislature while Governor Charlie Crist pushes for the compact that he negotiated with the Seminoles in 2007.

MGM and Dubai World Reach CityCenter Accord?

MGM Mirage and Dubai World are working on an agreement to guarantee that CityCenter is completed.

Rank Gets Isle’s Coventry Casino

The ambitious Isle Casino at the Ricoh Arena, once part of U.S. operator Isle of Capri’s dream of a chain of big U.K. casinos, will be rebranded as a G Casino by new owner Rank.

Indian Gaming Pioneer S. Timothy Wapato Dies

S. Timothy Wapato, Indian gaming pioneer and the founder and former executive director of the National Indian Gaming Association died at his home in South Dakota on April 19 just one week after attending the NIGA trade show in Phoenix.

UIGEA Face-Off

The debate over the Unlawful Internet Gambling Enforcement Act has put two seemingly disparate entities in competition to sway lawmakers about whether or not to repeal the online gaming ban in the U.S. Former Senator Al D'Amato, head of the Poker Players Alliance, squares off against professional and collegiate sports leagues.

ALSO:

FANTINI'S FINANCE: Quarter Questions

Fine appointed Greektown CEO

Issue : Vol. 7 • No. 14 • April 20, 2009

GGB NEWS April 20, 2009

COVER STORY:

Magnificent Meadows

New permanent casino should boost revenues for the only Pennsylvania gaming facility in the Pittsburgh area, but success threatens several nearby casinos in northern West Virginia.

FEATURED STORIES:

WEEKLY FEATURE: Stevens Re-Elected As NIGA Leader

Trade show and conference of the National Indian Gaming Association brings thousands to Phoenix, with new equipment, new operators ready to go.

Rolling The Dice In Macau

Melco Crown getting close to opening the massive property that includes a Hard Rock and Hyatt hotels. Lawrence Ho has definitely put his reputation on the line.

CityCenter Continues Moving Forward

MGM will make another payment for Dubai World as it negotiates with the Abu Dhabi company to settle the dispute between the CityCenter partners and guarantee completion of the project.

Foxwoods Applies For New Philly Location

Connecticut tribe moves its location in Philadelphia for the third time, to the former Strawbridge’s department store, hoping to defuse neighborhood and city opposition.

Mohawk Tribe Revives Talk Of Catskills Casino

Tribe joins two others in race to get federal approvals to build a casino resort in lucrative region but need help from Interior Secretary Ken Salazar.

ALSO:

Frank To Introduce Online Legislation

Montenegro Resort Hopes For Playboy Casino

FANTINI’S FINANCE: Double Bubble

Issue : Vol. 7 • No. 13 • April 13, 2009

GGB NEWS April 13, 2009

COVER STORY:

Storming the Halls of Congress

A congressional committee has begun looking at possible legislation to undo the effect of February’s U.S. Supreme Court’s Carcieri v. Salazar ruling that bans taking into federal trust lands for Indian tribes recognized by the federal government after 1934.

FEATURED STORIES:

WEEKLY FEATURE: Hopeful Brazil

Brazilian lawmakers and commissions are examining a bill that would reintroduce casinos to the nation and bring the bingo industry (a bingo parlor outside of Rio) under federal control.

PAGCOR Hosts Asia’s GEM

Participants in Manila’s “Entertainment City”  affirm their investments, but opening date is anyone’s guess.

MGM Mirage, Dubai World Continue Stare Down

MGM Mirage is struggling to reconcile reduced earnings with a mounting debt load and rising construction costs for its giant CityCenter project, and is now actively pursuing sales of non-Las Vegas properties like the Beau Rivage in Biloxi.

UNLV Celebrates Nevada’s Regulatory Success

At an event last week, Bob Faiss and the William S. Boyd School of Law at the University of Nevada-Las Vegas paid homage to the state’s gaming regulators, who were celebrating 50 years of service to the state.

Philly: Slots By 2010

Opposition melts away as the two casinos slated for Philadelphia gear up to open in temporary facilities.

ALSO:

Macau Gambling Magnate To Be Honored At G2E Asia

HIT President Resigns

Interview with Paul Hobson, General Manager, Aquarius Hotel & Casino, Laughlin, Nevada

Issue : Vol. 7 • No. 12 • April 6, 2009

GGB NEWS April 6, 2009

COVER STORY:

Downturn Hits Large and Small Players

Like their larger cousins, a number of smaller casino operators in Las Vegas are facing bankruptcy as they struggle to deal with the prolonged recession, including Stratosphere, Riviera and Hooters.

FEATURED STORIES:

WEEKLY FEATURE: Three Bidders for Kansas’s Southwest Zone Casino

The process to pick casino operators for two of Kansas’s regional casino zones kicked off last week, including a Hard Rock Hotel at Kansas Speedway.

Colony Capital Or James Packer May Rescue CityCenter

Despite its missteps with Station, Kerzner and others, Colony Capital and CEO Tom Barrack may emerge as a possible “white knight” for MGM Mirage.

Online Association Questions Moves By France, Sweden

Separate situations in France and Sweden have online gaming trade association to call for tougher action by the E.U.

LV Sands: Macau Construction To Resume Soon

New investors expected to help re-start stalled Cotai Strip development.

Major Investor Deserts Porto Montenegro Project

Yacht center/casino faces rough road, but prospects are positive.

ALSO:

Native Hawaiian Bill Would Ban Gambling

FANTINI’S FINANCE: Fundamentally Sound

Issue : Vol. 7 • No. 11 • March 30, 2009

GGB NEWS March 30, 2009

COVER STORY:

CityCenter Barely Avoids Bankruptcy as Dubai World and MGM Mirage Tangle in Court

As if MGM Mirage didn’t have enough problems, Dubai World, the company’s partner in the CityCenter development, filed suit against MGM last week and failed to make a required payment, which would have forced the project into bankruptcy had not MGM made the full payment instead.

FEATURED STORIES:

WEEKLY FEATURE: Poles Apart

Florida's House and Senate have rolled out dramatically different plans for the state's evolving gaming industry. House committee leader Rep. Bill Galvano says the Senate goes too far. 

India Gets First Land-Based Casino

It’s no billion-dollar project, but the 60-room Royal Plaza Hotel in Gangtok, Sikkim has become the first operator to open a land-based casino in India.

Stanley Ho’s Lisboa Overhaul on Hold; Company’s Profits Cut

Blaming the economy and a desire to deliver value to shareholder, SJM and STDM, two companies controlled by Macau casino magnate Stanley Ho, announced that plans to renovate the venerable Hotel Lisboa are on hold.

Matthews Resigns as IGT’s CEO

TJ Matthews has resigned as president and chief executive of leading slot manufacturer International Game Technology. Effective April 1, four-year IGT board member Patti S. Hart will take over as CEO.

U.K. Conservatives: Lax Laws Leading to Internet Gambling Addicts

England's Conservative party shadow gambling minister Tobias Ellwood has come out criticizing the Labour party for relaxed gambling law they say are responsible for creating 15,000 new gambling addicts.

ALSO:

FANTINI’S FINANCE: Finding Fundamentals

Company Takes Bigger Chunk of Hungary’s Dream Island

GLOBAL GAMING BUSINESS PODCAST: Interview with Mike Nolan, General Manager of the El Cortez in Downtown Las Vegas

Issue : Vol. 7 • No. 10 • March 22, 2009

GGB NEWS March 22, 2009

COVER STORY:

Billionaire Bound

A group of lenders and investors that includes billionaire financier Carl Icahn plans to bid for Atlantic City's Tropicana Casino and Resort in an upcoming bankruptcy auction.

FEATURED STORIES:

WEEKLY FEATURE: Major Problems

MGM Mirage, Station Casinos and Harrah’s Entertainment continue to negotiate with lenders hoping to avoid bankruptcy and restructure loans. Sales of some properties, including MGM Mirage’s iconic Bellagio, was being contemplated.

Uruguay Seeks Investment Partners

Uruguay is preparing a “mega-tender” that will allow private companies that invest in non-gaming amenities to receive additional income from government-owned casinos, to be incorporated within the new developments.

Family Feud

Several unions have joined forces in a move to organize gaming workers across the country, but the bottom line is a problem for the labor movement.

ALSO:

E.U. Parliament Votes Against Online Gambling

Cantor Gaming Launches ‘In-Running’ Wagering at M Resort in Las Vegas

Permanent Casino For Indiana Live! Debuts Near Indianapolis

Issue : Vol. 7 • No. 10 • March 16, 2009

GGB NEWS March 16, 2009

COVER STORY:

Bye Bye Bill

The departure of William Weidner from Las Vegas Sands after 13 years wasn’t a surprise to anyone who was paying attention to the turmoil within the company over the past year. While company Chairman Sheldon Adelson is clearly the “visionary” of the company, Weidner and his team were undoubtedly the engine that built and operated Adelson’s dream.

FEATURED STORIES:

WEEKLY FEATURE: Record Falls

As if they needed more proof of the sliding demand of destination gambling, revenue figures released for Nevada and Atlantic City only confirmed that things are bad. Nevada posted a decline for the 13th straight month in January, while Atlantic City revenues hit record lows for February.

Russian Casinos Want More Time; May Convert to Poker Clubs

Russian casino operators and the legislatures of the provinces where the proposed gambling zones will be located are asking the federal government to delay until 2012 the closing of casinos in major cities, like Casino Arbat in Moscow. At the same time, operators plan a future after gaming.

Online Gaming Eyes Change in U.S. Law

Congressman Barney Frank is pushing a bill that would repeal the UIGEA law passed during the Bush administration, giving hope to online gaming participants.

ALSO:

Goa Getting Real

GLI Hosts Annual Regulators Conference

Issue : Vol. 7 • No. 9 • March 9, 2009

GGB NEWS March 9, 2009

COVER STORY:

The Noose Tightens

Several major Las Vegas gaming companies were facing imminent bankruptcy last week as money tightened and results faded. Harrah’s Entertainment, MGM Mirage and Station Casinos were all dealing with the probability they would not be able to meet their debt payments within the next month, with bankruptcy looming for each.

FEATURED STORIES:

Strong opening for M

M Resort opened in Las Vegas, and has already signed up 20,000 club members and had to hire an additional 250 workers.

China: No gambling during visits to Taiwan

Even though it’s just a ferry ride from a potential Taiwanese casino, residents of the Mainland Chinese city of Xiamen will not be permitted to gamble there.

WEEKLY FEATURE: Intra State

Bad Times for New Jersey and the casino industry? Why not reconsider intrastate internet gaming, asks Frank Catania.

Tribes react to Supreme Court decision

Various tribes are looking to see how the recent landmark Supreme Court decision in Carcieri v. Salazar might affect their fortunes. In an opinion authored by Justice Clarence Thomas, the high court ruled that tribes recognized after Congress adopted the 1934 Indian Reorganization Act may not put land into federal trust.

Study: taxing online gaming could generate $52 billion

How much is the U.S. losing by banning online poker? According to one study, it is about $52 billion over the next 10 years.

ALSO:

FANTINI'S FINANCE: Glimmers of Hope?

EVENT UPDATE: World Game Protection Conference

Interview with Steve Szapor, President of the Innovation Group

Issue : Vol. 7 • No. 8 • March 2, 2009

GGB NEWS March 2, 2009

COVER STORY:

Local Legends

Mired in an effort to resolve some thorny financial issues that will likely result in bankruptcy, Station Casinos received an offer from rival Boyd Gaming last week that would have Boyd acquiring certain assets of the company, including the new Aliante Station in North Las Vegas.

FEATURED STORIES:

Loss of Trust

A ruling by the U.S. Supreme Court in a Rhode Island case—Carcieri v. Salazar—in one fell swoop alters the landscape for Indian casinos, and may call into question dozens of existing agreements held by tribes, including the Shakopee Mdewakanton Sioux Community in Minnesota, owners of the Mystic Lake Casino.

Macau Operators Form Trade Association

Competitors agree to form a group to discuss common issues and represent the industry as a whole—led by Stanley Ho—with unlimited visas for residents of Guangdong the first order of business.

Texas Legislature Mulls Gaming Bills

The Texas legislature is considering several bills that would legalize various forms of gaming. Most of the interest in the subject is to generate economic development.

Gaming Debate Begins in Bermuda

As U.S. company, the Innovation Group, studies the feasibility of gaming in Bermuda, factions are squaring off on both sides of the issue. The premier and hotel owners, like the Fairmount Southampton, support the effort.

Gaming and Travel Organizations Respond to Criticism

In “Left Behind,” Frank Fahrenkopf, president and CEO of the American Gaming Association and Roger Dow, president and CEO of the U.S. Travel Association, respond to criticism from President Barack Obama about companies receiving bailouts from holding business meetings in gaming destinations.

Issue : Vol. 7 • No. 7 • February 23, 2009

GGB NEWS February 23, 2009

COVER STORY:

The Harder They Fall

While the economy has unquestionably impacted the entire gaming industry, it has really hurt the two largest jurisdictions in the U.S.: Atlantic City and Las Vegas. Indian gaming, riverboats, racinos… all have suffered but few are facing the dire possibilities that confront the two major gaming cities.

FEATURED STORIES:

WEEKLY FEATURE: Maneuverings Begin as Massachusetts Lawmakers Take Up Gaming

The battle for casino gaming in Massachusetts has begun. It began last week with the removal, by Speaker Robert DeLeo, of Rep. Daniel E. Bosley as chairman of the House committee responsible for gambling.

Genting Ups Investment in Singapore

The S$6 billion Resort World at Sentosa is now a S$6.59 billion (US$4.3 billion) project. That was one piece of news inside the recently released 2008 financial statement for casino and resort developer and operator Genting International.

Michigan Tribes Eye Expansion

In addition to Detroit, Michigan has always hosted a stable and prosperous tribal gaming industry. Last week, three tribes made moves that will expand that industry. A tribal casino at the now-closed Great Lakes Downs racetrack is planned by the Little River Band of Ottawa Indians.

Report: CityCenter to Swallow Cosmopolitan

MGM Mirage’s CityCenter would absorb the bankrupt Cosmopolitan according to a report.

Aristocrat Opens Manufacturing Plant in Las Vegas

Aristocrat Technologies recently held a “grand re-opening” of its U.S. manufacturing plant in Las Vegas. New CEO Jamie O’Dell (left) arrived to help cut the ribbon.

ALSO:

Fourth Annual World Game Protection Conference Kicks Off March 1 at Caesars Palace

Interview with Bob McDevitt, President, UNITE HERE Local 54, Atlantic City

Issue : Vol. 7 • No. 6 • February 16, 2009

Issue : Vol. 7 • No. 5 • February 9, 2009

Issue : Vol. 7 • No. 4 • February 2, 2009

GGB NEWS February 2, 2009

COVER STORY:

States Eye Gaming Revenues

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.

FEATURED STORIES:

IGE: Shaken Not Stirred

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 have ground to a halt.

LV Sands attacked in Macau

With $4 billion in financing already secured, developers of the $2.9 billion Fontainebleau on the Las Vegas Strip have no concerns about cash.

Anti-Gaming Activists Emerge in Taiwan

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.

Revel’s Atlantic City Construction Slows to Crawl

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 would not say how much financing the company needs.

ALSO:

Criticism rises over potential BIA pick

FANTINI'S FINANCE: Changing the Formula

Podcaset with Marilyn Winn, President, Bally’s, Paris & Rio Las Vegas

Deadline Extended for Southeast Kansas Casino

Issue : Vol. 7 • No. 3 • January 26, 2009

GGB NEWS January 26, 2009

COVER STORY:

Codere Wins

The winner in the bid to operate the casino in the Carrasco Hotel (l.) in Montevideo is a consortium of Spain-based operator Codere and international hotel operator Sofitel.

FEATURED STORIES:

WEEKLY FEATURE: Asian Business Matters: 7 Steps to More Business

Asian customers are becoming more and more important in casinos around the world. But to effectively cater to this market, operators must dig into the culture and make sure that your employees are treating the customers with respect. Understanding the “High and Low Context Culture” is a fundamental subject to discuss when we talk about the things that you need to know about your Asian patrons.

Fontainebleau Secured Cash Before Crash

With $4 billion in financing already secured, developers of the $2.9 billion Fontainebleau on the Las Vegas Strip have no concerns about cash.

Packer Problems

Gaming giant James Packer is suffering huge financial, emotional collapse.

IGT Acquires PGIC Assets

Leading slot and system manufacturer International Game Technology is acquiring “certain operating assets” of rival system company Progressive Gaming International Corporation. The global operations of PGIC will be integrated with IGT's respective offices in Europe, Asia, Australia, Latin America, Canada and the U.S.

ALSO:

Podcast with Ron Sultemeier, Managing Director, Delaware North Gaming & Hospitality

FANTINI'S FINANCE: Bad Closing Act

Issue : Vol. 7 • No. 2 • January 19, 2009

GGB NEWS January 19, 2009

COVER STORY:

Ohio River Roulette

Despite difficulties in getting previous measures passed, two mid-American states consider gaming again. The legendary Churchill Downs racetrack may get slot machines if a bill before the Kentucky legislature passes.

FEATURED STORIES:

Harrah’s Holds Off

Harrah's delays opening of the new hotel tower at Caesars Palace because of low occupancy rates in Las Vegas, while MGM Mirage Chairman and CEO James Murren says his company will do everything possible to reduce its debt—including selling more casino properties.

Taiwan On

The national legislature clears the way for local casino referendums on outlying islands. Taiwan President Ma Ying-jeou wants to use gaming as an economic generator.

Trop Plan Calls For Split, AC Sale Delayed Again

Tropicana Entertainment submitted to shareholders a reorganization plan that would bounce Bill Yung III and split the company into two, while the sale of the Tropicana in Atlantic City continues to drag on. 

GGB Podcast with Richard Brown, President & CEO, Planet Hollywood Resorts Worldwide

This week, the Global Gaming Business Podcast features an interview with Richard Brown, the president and CEO of Planet Hollywood Resorts Worldwide, on his new job and his former bosses.

ALSO:

FANTINI’S FINANCE: The Obama Effect

Issue : Vol. 7 • No. 1 • January 12, 2009

GGB NEWS January 12, 2009

COVER STORY:

Anticipating Taiwan

The effort to establish casino resorts on the main islands of the Penghu archipelago, of Taiwan, received a boost from the local government there in the first week of January. The county government is reportedly looking for private investment of NTD 30 billion—over $900 million—to aid in the development of casino resorts. (The Rainbow Bridge, l., is a pedestrian walkway that connects two islands in the Penghu archipelago.)

FEATURED STORIES:

Seneca Solution

The ghose of Secretariat, who last won in 1973 at Belmon Park, is being conjured to help the track gain VLTs under a plan by some New York officials, while the Seneca Nation wants to bring a massive casino to Sullivan County in the Catskills.

CityCenter drops condos at Harmon

Citing economic concerns, MGM Mirage announced it will not pursue efforts to make the Harmon at CityCenter structurally sound allowing the construction on the condo component. The Harmon Hotel  will be capped at 28 stories, instead of the planned 49, now that a major construction defect has be identified.

Balkan Buyout

Queenco Leisure International has announced an agreement between Club Hotel Loutraki and Casinos Austria for the purchase of Casinos Austria’s 51 percent stake in Casino Beograd, as well as a possible stake in Casino Austria's Grand Casino Brussels.

Bear Necessities

Pessimism is now officially the Wall Street theme for gaming stocks. A few days ago, many of the leading gaming analysts took out their crystal balls and peered into 2009. What they saw isn’t pretty.

ALSO:

GGB Podcast With Kevin Kelley, Exec. VP and COO, Station Casinos

Texas Governor Rebuffs Tribe’s Gaming Letter

Issue : Vol. 6 • No. 52 • December 29, 2008

GGB NEWS December 29, 2008

COVER STORY:

It’s Not Rosemont

The Illinois Gaming Board December 22 chose Des Plaines and Midwest Gaming, led by developer Neil Bluhm, for the state’s 10th and last casino license, picking it over Rosemont and Waukegan. The vote was 3-1, ending four years of agonizing by the state board on what to do with the license. And the decision apparently came down to the only bid that was not tainted.

FEATURED STORIES:

A New Century

The African subsidiary of Century Casinos, Inc. is being acquired by Tsogo Sun Gaming (Pty) Limited of South Africa. The deal involves the Caledon Hotel, Spa & Casino, near Cape Town, and Century Casino Newcastle, in Newcastle, South Africa. Century Casinos Africa (Pty) Limited owns and operates the Caledon and owns 60 percent of the Newcastle property, for which it also provides technical casino services.

Wynn Again!

Encore opens in Las Vegas during what most regard its most difficult economic times in history.

FANTINI'S FINANCE

Goodbye and Good Riddance: Will 2009 be any better than 2008?

ALSO:

Podcast With Kevin Gover, Director, National Museum of the American Indian

Celebrity chef to open eateries at Mohegan Sun

Issue : Vol. 6 • No. 51 • December 22, 2008

GGB NEWS December 22, 2008

COVER STORY:

MGM Sheds TI

The sale of Treasure Island Hotel Casino in Las Vegas might have been surprisingly, but it could only be the first of many. MGM Mirage, which is struggling to fund CityCenter and control debt, some of which comes due in 2010, sold the iconic property on the Las Vegas Strip for $775 million to Phil Ruffin, the former owner of the New Frontier.

FEATURED STORIES:

Wishing and Waiting

For those waiting with bated breath for the day when gaming revenues tick upward once again, global credit ratings agency Fitch Ratings has an answer: keep holding your breath, because gaming won’t recover until 2010. (The Fontainebleau, left, in Las Vegas should open just in time for the economy to rebound, according the Fitch Ratings.

Podcast With Nigel Morrison, CEO, SkyCity Entertainment Group

This week, the Global Gaming Business Podcast features an interview with Nigel Morrison, the CEO of SkyCity Entertainment Group, the largest gaming company in New Zealand.

Casino Opens in California’s Gold Country

Tribal council members of the Shingle Springs Band of Miwok Indians simultaneously cut a 30-foot-long ribbon spanning the casino’s main entry to open the Red Hawk Casino.

ALSO:

Hotel at Grand Lisboa Opens

Issue : Vol. 6 • No. 50 • December 15, 2008

GGB NEWS December 15, 2008

COVER STORY:

Crime and Corruption

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 political corruption indictment, which shook President-elect Barrack Obama’s transition last week, had a gaming angle.

FEATURED STORIES:

Podcast With Shawn Ellis, President, Ellis Gaming

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.

Happy Gaming New Year in Taiwan

If all goes well, Taiwan will have a version of its long awaited casino legislation by the time the Year of the Ox is being ushered in. That is, by January 26, 2009. The Taiwanese government promised in the second week of December to have its report on the legalization of casino gaming completed by the end of the month, according to the Taiwan News.

New Look For Old Classic

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.

ALSO:

Bittman Retiring From IGT

Fighting City Hall

Issue : Vol. 6 • No. 49 • December 8, 2008

GGB NEWS December 8, 2008

COVER STORY:

Private Concerns

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.

FEATURED STORIES:

Mexico Disappoints Again

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.

AGEM highlights supplier accomplishments

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.

FANTINI: Six Months Ahead

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.

Issue : Vol. 6 • No. 48 • December 1, 2008

GGB NEWS December 1, 2008

COVER STORY:

Trop Travails

Two decisions last week—one by a court, the other by a potential buyer—may decide the future of Tropicana Entertainment. A company that wanted to buy its Indiana property canceled the sale, and the New Jersey Supreme Court upheld the decision by the Casino Control Commission to strip the company of its state gaming license.

FEATURED STORIES:

Back to the Drawing Board

Last year, Kansas’s lawmakers authorized four regional casinos as a sure way to address the state’s budgetary problems, which some fear could be as much as $1 billion in two years. Projections for the first year’s gross revenues were set at as much as $200 million, with the state’s take estimated at over $40 million from the state-owned casinos. Today the operators chosen to build and operate two of the four casinos have walked away, taking their $25 million deposits with them. The tax bonanza is starting to wilt like a slowly leaking party balloon.

Indian Gaming and the Obama Administration

Last month’s Global Gaming Expo opened a window into the relationship between agencies and organizations involved in the oversight of Indian gaming. On two separate panels, NIGC Chairman Phil Hogen and Bureau of Indian Affairs official Paula Hart, who is involved in many of the gaming issues at the agency, described attempts to intervene in decisions considered by the NIGC.

AGEM highlights supplier accomplishments

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.

Issue : Vol. 6 • No. 47 • November 24, 2008

GGB NEWS November 24, 2008

COVER STORY:

Quality Before Quantity

Amidst fears that a slumping economy would cause falling attendance and lower sales, the gaming industry’s most important trade show, Global Gaming Expo (G2E) was held last week in Las Vegas. To the relief of show organizers and exhibitors alike, attendance was down only slightly—just 7 percent according to show co-owner, the American Gaming Association—while the quality of the attendees was at least as good as last year.

FEATURED STORY:

Kicking Out Kansas

The edifice of Kansas’s the regional casinos envisioned by the Expanded Lottery Act is cracking, with yet another developer, Harrah’s Entertainment Inc. announcing that it is pulling out from building a $535 million regional gaming resort that it had been chosen to create in Mulvane, in the south central part of the state.

Issue : Vol. 6 • No. 43 • November 3, 2008

GGB NEWS November 3, 2008

COVER STORY:

Betting Ballots

The general election in the United States is creating much excitement across the country as the prospect of the first African American president or the first woman vice president hangs in the balance. As the bitter campaign winds down, however, attention turns to some of the lesser known issues to be decided during the same vote. For the gaming industry, there is a plethora of states that are considering issues that will have an impact on gaming companies and the overall industry. And the decisions on these issues may indicate trends that the industry will grapple with for many years to come.

Issue : Vol. 6 • No. 42 • October 23, 2008

GGB NEWS October 23, 2008

COVER STORY:

Plans emerge for Chicago-area casino

The day the Illinois Gaming Board announced seven bidders for the state’s dormant 10th license with few details besides bidders’ names and numbers, the Chicago suburb of Stickney and owners of the local Hawthorne Race Course galloped out of the gate complete with press releases and ex-Chicago Bears football coach Mike Ditka saying the village is already in the lead to win the license. With room for a temporary casino in the track’s grandstand, they claimed, Stickney could open the Champions racino within six months.