April 9, 2010
Good news finally on the earnings from for Las Vegas. Regulators say casinos on the Las Vegas Strip did better in February, pushing gambling winnings up almost 14 percent statewide compared with a dismal month in 2009. Yay! The state Gaming Control Board reported Thursday that Nevada casino win increased to almost $947 million, compared with $831 million in February 2009. Most of the increase was driven by the Strip, where the casino win figure was up a whopping 33 percent.
April 2, 2010
House Speaker Robert A. DeLeo, surrounded by casino lobbyists, labor leaders, and racetrack supporters, said today that his bill to license two resort-style casinos and slot machines at the state’s four racetracks would help lift the state from its economic malaise and close its yawning budget gap. The casinos would be two $500 million resort styles, and there would also be licenses for two $75 million dollar racetrack slot machine casinos. We'll let you know if it passes - but it looks good so far.
Via The Boston Globe
March 26, 2010
With New Jersey saying it will downsize the requirements from 60,000 square feet for a casino to 20,000 feet and also the number of hotel rooms a casiono needs to have, Hard Rock International said it's considering building a casino hotel in Atlantic City with Och- Ziff Real Estate after a New Jersey lawmaker proposed allowing smaller developments at the seaside resort.
The first phase of the Hard Rock Hotel & Casino would cost about $300 million, excluding land, and be located at the beachfront at the intersection of Albany Avenue and the Boardwalk, the company said today in a statement.
March 19, 2010
We just don't follow casino stock prices that much, but it looks like the MGM Mirage was one of the US-based gaming companies that had their stock jump on Tuesday after word on the future of the Macau casino industry was announced. That bump, however, was short lived, as MGM stock dropped slightly yesterday. Huh? Well - it sounds like speculation drove it, and then some people took back that small jump. If you want our advice on gambling or selling and buying stocks - make sure you take your BUMP and get up from the table occasionally.
Via New Online Casinos
March 12, 2010
New York state has officially pulled the plug on a controversial group chosen to run a planned racino at Aqueduct Racetrack. We're pretty sure you could just pull the plug on any casino project if you call it a racino. Racino? We get it but do we have to? Just call it a casino at a former race track or a race track with a casino please.
"The Division of the Lottery has concluded that it cannot issue a gaming license to Aqueduct Entertainment Group," Gov. Paterson's administration said in a statement.
"Therefore, the state has officially withdrawn its support for AEG to develop and operate a video lottery" slots parlor at the racetrack.
More at New York Daily News
February 26, 2010
Stephen A. Wynn, chairman of Wynn Resorts, said yesterday that he would go to Harrisburg Wednesday to outline to the state Gaming Control Board his plans for a Philadelphia casino that he said would be "the cutest casino you have ever seen."
Wynn discussed for the first time his ideas for reviving the Foxwoods project in South Philadelphia during a conference call with stock analysts after the release of the Las Vegas company's year-end results.
Wynn Resorts confirmed Tuesday that it had signed a letter of intent to take control of developing and running the struggling Foxwoods Casino project. But the deal is contingent on approval from Pennsylvania gaming regulators. The Foxwoods project is at risk of losing its license for repeated delays since winning one of the city's two slots licenses in 2006.
Via Philadelphia Inquirer
February 19, 2010
Really? Casinos in Hawaii? Why not? I guess they don't have any other revenue possibilities? Does this seem to be a trend? If you add Casinos revenue will come? Let's hope so.
Hawaii has always been known for its sun, sand and surf. It may soon add another attraction: slots. Hawaii is one of the last two states with no legalized gambling, but lawmakers facing billion-dollar budget deficits and hunting for ways increase revenue are thinking about allowing casinos in tourist-filled Waikiki or on Native Hawaiian lands. Proponents say casinos would draw much-needed new money and jobs into the long-troubled, tourism-dependent economy.
February 12, 2010
Another amazing Forbes article about the fate of Las Vegas and City Center. Can it save Las Vegas? Well - we hope so but it's unclear how.
Towering over the heart of the Las Vegas Strip, CityCenter--a joint venture between gaming giant MGM Mirage ( MGM - news - people ) and Infinity World, a subsidiary of Dubai World--opened this week under a dazzling display of fireworks and glitz. The property encompasses 67 acres between the Bellagio and Monte Carlo casinos, and features four hotels, including its flagship, Aria, which is complete with 4,004 rooms, a casino, shops, restaurants, nightclubs and lounges and an Elvis-themed Cirque du Soleil production.
At Can CityCenter Save Las Vegas? - Forbes.com
January 29, 2010
Looks like Delaware is joining the casino gaming world and truly having the full experience at it's casinos. New Jersey's tiny neighbor to the south now poses a bigger threat to Atlantic City's $3.9 billion casino market.
In a final legislative vote Thursday, Delaware's Senate legalized Atlantic City-style table games such as blackjack, poker, craps and roulette. Gov. Jack Markell immediately signed the bill into law.
Atlantic City is already playing 3rd to Pennsylvania in revenues - what's next? Probably 4th place to Delaware.
At Delaware legalizes table games at its casinos
January 15, 2010
Casinos in Massachusetts? There may be no more electric debate coming to Beacon Hill this year, as legislators take up an issue that polarizes the state and its leaders every time it arises. This article (link below) features the man behind making it happen.
Why do we want them? Some covet the new jobs and tax dollars that expanded gambling could bring in; others are troubled by the prospect of adding slot machines and blackjack tables to a state already among the highest in per-capita lottery spending.
But there’s another aspect as well. If casino gambling is legalized - an idea that looks far more likely now that the state’s three top leaders agree on it - it would introduce a whole new industry to the Bay State, attracting international casino developers and demanding a new set of regulations.
At Inside Man