Great Caesars Ghost!

In the first transaction of a business strategy designed to sell non-core assets to reduce its sizable debt, Caesars Entertainment last week announced it had sold Harrah’s St. Louis to Penn National Gaming for $610 million. Both companies said the deal fits into their corporate strategies and business plans.

 
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WEEKLY FEATURE:  Wynn Withdraws
 
Steve Wynn has dropped out of the Massachusetts casino merry-go-round after voters in Foxboro handed him a stinging defeat last week in his plan to build a casino next to Gillette Stadium, home of the New England Patriots. His company announces no plans for further efforts in the Bay State. At the same time, he reveals more about his plans for the recently approved property in the Cotai region of Macau.

AGA Releases 2012 State of the States

The most comprehensive study of the gaming industry is issued each year by the American Gaming Association with the State of the States. In this year’s study, evidence continues to mount that the industry is rebounding from the bad years of 2008-2010, with a 3 percent increase in revenues over 2011.

 
    Ohio’s First Casino to Open This Week

The Ohio Casino Control Commission last week issued licenses for the first two of four casinos that will operate in the state: the Horseshoe Casino Cleveland and the Hollywood Casino Toledo. The Cleveland casino will open first on May 14.

New Jersey Online Gaming Bill Moves Toward Vote

A state Assembly committee last week approved a bill that would legalize online gaming within the state of New Jersey. This follows a Senate panel doing the same and positions the bill for full votes in both houses of the legislature. But a pending feud between the bill’s sponsor and Governor Chris Christie may derail the entire thing.

 
Okada Confirms Manila Investment