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June 26, 2009
Table Games Could be Coming to Pennsylvania
That's right - Blackjack, baccarat, craps, and roulette could be coming to PA. The money that could be generated would far outweigh any potential problems, according to an analyst, but we think there's always a few problems. The state believes it could bring in $165 million annually if table games were allowed.
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June 19, 2009
MGM Mirage CEO Doesn’t Plan to Sell Vegas Casinos - Good News for Us
We love the MGM, and would find it sad to be in anyone else's grubby little hands. Looks like MGM is not getting the money it wants for offers, and we expect they won't for awhile.
MGM Mirage Chief Executive Officer Jim Murren doesn’t plan to sell any casinos on the Las Vegas Strip because of low offers.
“As it relates to Strip properties we haven’t engaged in any discussions on those,” Murren said yesterday in a telephone interview. “We don’t feel like we could come close to what we believe the values are worth. The multiples are low, it seems like the wrong time.”
The company, the largest operator of casinos on the Las Vegas Strip, will probably decide “within the next month” whether to sell three properties in Michigan and Mississippi, and is in a fresh round of bidding, Murren said. Prospective buyers are offering more “now that we’re not as forced a seller,” he said. “Bid valuations are rising.”
Buy Slot Machines for Your Home - Build a Home Casino
If you are looking for a casino used slot machine, look no further. These are genuine Pachislo skill stop slot machines that were used in international casinos are perfect for your home casino. Skill Stop Slot Machines get their name because you control when each reel stops which also adds an element of skill to the game.
We love the Vegas slot machine above, and we think there may be a little slot machine in our home casino soon.
Luck running low in Las Vegas - Will it Turn Around?
There's a really interesting article over at CNN. Seems like luck and money is running out in Las Vegas, and this means more than just cheap rooms.
A search online turns up rooms at Fitzgeralds Casino and Hotel for as low as $26 -- a sure sign the recession is taking a toll on Las Vegas and rates are being slashed to attract visitors.
Judy Bagley, a casino cashier who traded chips for cash and vice versa, found out about recession's toll another way.
"My supervisor came and said I had to close the booth and she was going to count me out and I was to go and meet with the manager and director," Bagley told CNN. "When I went up there they said my services were no longer needed and my job was being eliminated."
So three months ago, after more than 28 years at Fitzgeralds, she was out of work.
"It felt like I was more or less stabbed in the back after all the years I had been there," Bagley said. "I'd been very loyal to the company and never called in sick and I have very little discipline [issues] and it felt like betrayal."
Pennsylvania is in for a treat because nearly 14 years after a century of steelmaking ended in south Bethlehem, PA, gambling will step into the void left by the death of Bethlehem Steel. At 9 a.m. today, Bethlehem will become Pennsylvania's eighth casino town.
The $743 million gambling hall in the former Bethlehem Steel ore field at the south end of the Minsi Trail Bridge features four restaurants and two lounges.
In a move that shows the US Congress aren’t all misguided and shooting in the dark, a new bill that would overturn the 3-yr old ban on Internet gambling was introduced last Wed.
The new bill, titled “Internet Gambling Regulation Consumer Protection & Enforcement Act” would allow the US Treasury to regulate the industry instead of the current practice.
As representative Frank puts it “The government should not interfere with people’s liberties.” Well said.
For those that disagree, consider this - if we’re going to ban online gambling, shouldn’t we ban other forms of gambling as well?
That's right - the numbers are still slipping, but we predict a Summer and Fall turn around.
Numbers from the Nevada Gaming Control Board released on Thursday show that the recession's hold on Las Vegas could be loosening.
Although gaming win on the Strip fell 12 percent year over year, there was an uptick in revenue when compared to February 2009.
For Las Vegas, March revenue came in at $456.1 million -- up 6.7 percent from $427.4 million in February. In February, year-over-year Las Vegas casino win dipped 23 percent.
MGM Mirage Gets Full Funding for City Center Project
Looks like it's a go!
Shares of MGM Mirage skyrocketed Thursday, gaining as much as 50% after the company cut a deal with a joint-venture partner -- and its lenders -- that will apparently ensure the completion of its massive CityCenter project.
After the close of trading Wednesday, MGM Mirage (MGM:MGM 7.97, -0.41, -4.9%) and Dubai World, co-owners of CityCenter, ended more than a month of turmoil and infighting with a pact under which they will fund their remaining contributions to CityCenter via letters of credit, while current lenders will fully fund a $1.8 billion senior secured credit facility.
Furthermore, Dubai World said it will dismiss a lawsuit it filed last month against MGM Mirage, which charged that the casino giant was mismanaging the project.
"CityCenter is now fully funded and on track to open in December 2009," the two companies said in a joint statement.
Las Vegas Sands plans to put the Sands Macao (left) up for about US$1.3 billion (S$1.95 billion) after failing to sell its luxury shopping centres in the southern Chinese territory. This is more bad news for the already troubled Las Vegas Sands corporation.
N.J. Casinos Post Biggest Monthly Revenue Drop Ever
Ouch - blame it the recession? Maybe blame this one on stiff competition from neighboring Pennsylvania slots and other factors.
Atlantic City topped itself for all the wrong reasons yesterday, and posted a monthly revenue decrease that outdid its record 19.2 percent drop in February compared with the same month a year ago.
The seaside resort's 11 casinos reported a 19.4 percent decrease in March, the largest year-over-year decline in Atlantic City gambling's 31-year history, according to the New Jersey Casino Control Commission.
The casinos took in $318.4 million in March, compared with $395 million a year earlier.
Yep - Carlos Santana is getting his own Vegas show. Finally something a bit less revolting than Celine Dion.
Perpetually mustachioed guitar god Carlos Santana has signed a multi-year deal to launch a Las Vegas residency on May 27 -- and that the show, entitled Supernatural Santana: A Trip Through the Hits, will make him the "first rock and roll resident" to come to the Strip (suck it, Celine Dion!).
Given we're headed to Vegas today, we thought we'd remind ourself how addictive those amazing slot machines can be. Video slot machines have come to be known as the "crack cocaine" of the gambling industry, and we agree somewhat. Click on through for the full read, but know your limits and only bring what you're willing to lose.
The mechanical wheels of spinning fruit used in the old one-armed bandits have gone the way of the typewriter. Modern-day slot machines are computerized sound-and-light shows so skillfully designed to keep players glued to their seats that some have been known to wear adult diapers to avoid bathroom breaks.
As state Treasurer Timothy P. Cahill promotes the idea of licensing three slot parlors in Massachusetts, some mental health and gambling specialists warn that the newer machines deliver such potent gambling highs that they can be particularly addictive.
A great article that shows with a little dialing down of the amenities, you can still make money from slots and entertain some people. We think Massachusetts should look into something similar.
It's a little past 6 o'clock on a vanilla Monday night in March and Philadelphia Park is slammed. There are men in sweat suits, women with cigarettes dangling from their mouths, senior citizens with canes - all hoping the numbers and symbols on the screens in front of them match up just right.
They haven't come for the $3.50 hot dog at Grab-N-Go. They're not here to shop at the only store on the premises, a gift shop selling candy, cigarettes, and hats.
Woman Wins $5 Million for $4 bet On A Slot Machine
How about some good news? Wait - how about some great news? A woman playing a slot machine at a casino in Florence, OR won $5 million last Friday night. That's right - pull the lever - $5 million bucks.
The woman, who chose to remain anonymous, had been playing the Penny Wheel of Fortune machine at Three Rivers Casino and Hotel.
According to the casino, the woman initially thought she won $60 or possibly $600 when three Wheel of Fortune symbols lined up. The machine indicated she should call an attendant.
A casino spokesman said the woman had been in the casino for less than an hour and won the $5 million using a $4 bet.
Unemployed Place Their Bets On Casino Jobs - But Are they Even Safe Bet?
Looks like Colorado has some casino jobs, but are they even a safe bet in these tough economic times. Let's hope so. The big thing with any downturn is being flexible in the work you can find and going for it. Let's hope some of these unemployed get these jobs, and find them interesting.
Sometimes the best way to roll with the punches is to roll the dice.
That's Jerry Goldsmith's attitude. The Colorado man lost his engineering job of 29 years -- and the six-figure salary that went with it -- and is now applying for a casino job dealing craps, blackjack, roulette and poker.
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