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Updated: 51 min 8 sec ago
Majestic Star President and CEO Peter Liguori asked Indiana lawmakers not to revive a provision that revokes local governments' casino tax funds to cover state casino tax credits as a legislative committee works to reach a compromise gaming bill. During a House-Senate committee hearing, Liguori also voiced support for a measure allowing casino boats to move onto land, adding that his company is "ready and prepared" to build a land-based casino that would create jobs in the construction and gaming industries should the provision become law. The Times (Munster-Hammond-Merrillville-Valparaiso, Ind.) (4/22)
Betting exchange operator Betfair turned down the $1.4 billion acquisition offer by CVC Capital Partners, saying the offer was too low and came with too many conditions. "CVC's opening gambit, while not a knockout bid, is not too far away from a valuation that would cause management and investors cause for serious consideration," Peel Hunt analyst Nick Batram said. Reuters (4/22)
The Mashantucket Pequot Tribe in Connecticut announced its partnership with Internet gaming provider GameAccount Network in a deal that aims to penetrate the online gaming industry in the U.S. "The parties will initially focus on play-for-fun online gaming opportunities in the U.S., and in the event that legislation is enacted allowing real-money wagering, the parties will utilize GameAccount's cutting edge technology and platform to ensure a safe and fair game for all players," according to the tribe, which owns Foxwoods Resort Casino. The Hartford Courant (Conn.) (4/22)
Templeton Emerging Markets Group Executive Chairman Mark Mobius said that Macau can be "China's premier destination for leisure and entertainment" if casino companies invest more in family entertainment. "We see continued growth in view of the gradual transformation from an emphasis on only gaming to an emphasis on general entertainment for the family," Mobius said in an e-mail. Bloomberg Businessweek (4/23)
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Mignon McLaughlin,American author and journalist
MGM Resorts International and Penn National Gaming are competitively wooing locals of Springfield, Mass., in the hopes of securing a gaming license in the state's fourth-poorest city. Both companies are appealing to the city's economic interests by promising job creation through new entertainment centers in historic downtown buildings. Sponsorships and outreach campaigns by MGM and Penn National to get voter approval have reached "unprecedented" proportions, according to Clyde Barrow, director of the Center for Policy Analysis at the University of Massachusetts Dartmouth. Bloomberg Businessweek (4/21)
New Jersey's Division of Gaming Enforcement will begin allowing casinos in the state to offer fantasy sports betting Monday, though no casino had filed internal controls for such operations as of Friday. Paul Charchian, president of the Fantasy Sports Trade Association, said some casinos are already in talks with fantasy sports organizations. "We know that there are Atlantic City casinos that are following up on the opportunity. Because it's still early, a lot of them are in the decision-making process," Charchian said. The Press of Atlantic City (N.J.) (4/20)
The Meruelo Group on Friday said that its $20 million purchase of the Trump Plaza Hotel and Casino in Atlantic City will be postponed after Trump Entertainment Resorts failed "to obtain a release of the mortgage held by their senior secured lender," investor Carl Icahn. Meruelo, which has acquired an option to buy the property from Trump Entertainment once the mortgage is satisfied, said it "remains fully committed to acquiring the Plaza, and [is] focused on becoming a part of the Atlantic City community." The Press of Atlantic City (N.J.) (4/21)
The Borgata Hotel Casino & Spa in Atlantic City, N.J., is investing $50 million to enhance its retail business, which includes restaurants and shops. "We still have new visitors walking through the door for the first time. There are those who come so often that they've watched the building evolve over the years and are looking for new experiences. That's why we spend so much on our product and maintaining it," said Joe Lupo, Borgata's senior vice president of operations. Philly.com (Philadelphia) (4/21)
The opening of the Finger Lakes Casino and Racetrack in Farmington, N.Y., on April 27 will feature nine races and is expected to add more competition among jockeys. The return to the track of the five-year-old mare and 2012 Finger Lakes' Horse of the Year Clean Jean will be the highlight of the sixth race on Saturday. Rochester Democrat and Chronicle (N.Y.) (tiered subscription model) (4/19)
The Horseshoe Casino Cincinnati is on track to finish construction of an 80-foot sign off Interstate 71 that is intended to guide an expected 6 million visitors to the casino yearly. The casino has been open since March 4. Cincinnati.com (4/20)
A project recently announced by MGM Resorts International, which will bring an outdoor plaza and entertainment district to the area around New York-New York and Monte Carlo in Las Vegas, shows a new business model of encouraging customers to explore spaces outside casinos, according to one expert. "Clearly, this shows the recognition of and move toward open spaces and navigability. Openness wins," said Bo Bernhard, director of the International Gaming Institute at the University of Nevada, Las Vegas. VegasInc.com (Las Vegas) (4/19)
This week, the GGB Podcast features an interview with Don Brinkerhoff, the chairman and founder of Lifescapes
International, the gaming industry's leading creator of environmental ornamentation, iconic landscaping and unforgettable gardens, including the volcano at the Mirage.
New Jersey Treasurer Andrew Sidamon-Eristoff recently said that a Wells Fargo report backs up his forecast that Internet gambling could reach $1.2 billion in revenues in its first year in Atlantic City. In a letter to David Rosen, the budget and finance officer for the Office of Legislative Services, Sidamon-Eristoff said that the Wells Fargo analyst's five-year, $1.5 billion revenue projection "would yield $225 million in revenue to the state" at a 15% tax rate. The state treasurer's letter is in response to scrutiny by legislators and budget experts on the potential benefits of online gaming to New Jersey. The Press of Atlantic City (N.J.) (4/20)
Singapore's Casino Regulatory Authority on Friday cleared the relicensing of Las Vegas Sands after the resort-casino passed all assessments and additional requirements. The Las Vegas Sands was granted three more years to operate at the Marina Bay Sands. Las Vegas Review-Journal (4/19)
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Maria Robinson,American writer
The Massachusetts Gaming Commission on Thursday approved a plan to allow commercial casinos to seek casino licenses in the southeastern part of the state. The Mashpee Wampanoag tribe currently holds exclusivity to operate in the region and has plans to build a $500 million resort casino in Taunton, but it faces legal and regulatory hurdles. Mashpee Wampanoag Tribal Chairman Cedric Cromwell said the panel's decision could result in the establishment of four instead of only three regional resort casinos provided for by the state. The Boston Globe (tiered subscription model) (4/18)
The Iowa Racing and Gaming Commission on Thursday selected the Hard Rock Hotel & Casino over three other bidders to develop a gaming complex at the site of the old Battery Building in Sioux City. Hard Rock's $118.5 million project would include a 60-room hotel as well as 32 table games and around 800 slot machines in 30,000 square feet of gaming space. Sioux City Journal (Iowa) (4/19)