28th
April Las Vegas Source:
AP/Press release
Steve
Wynn obviously has the casino business and Las Vegas in his blood. That
is perhaps the biggest motivating factor in his agreed purchase of the
Desert Inn from Starwood Hotels. The cash purchase price is believed to
be in the region of $275 million and will be contingent upon the sale of
Mirage Resorts to MGM Grand. Located at the northern end of the Las Vegas
Strip the recently upgraded property has 715 rooms and a 30,000 square
foot gaming floor. Small by the standards set by new openings during 1999
but coming at a fraction of the price.
The change in ownership should see Mr Wynn being able to attract his faithful
top customers that should add significantly to the drop and occupancy rates.
The Northern end of the Strip as well as downtown Las Vegas casinos are
forecast in coming years to be susceptible to additional competition in
California from expanding Native Indian casinos.
27th
April Richmond BC. Source:
Reuters
Great
Canadian Gaming Corporation that operates six community casinos in
British Columbia has been awarded a suppliers license for Washington State.
The company through its wholly owned subsidiary Great American Gaming Corporation
has completed the purchase of the Riverside Casino in Tukwila, Washington.
Table games presently permitted in the state include Blackjack, Caribbean
Stud and Let it Ride.
Great
Canadian Gaming Corp. receives license to operate in Washington State.
27th
April New York Source:
Reuters
The
quest to open a casino in the Catskill mountains around 75 miles from New
York City by the St. Regis Mohawk tribe has taken a new turn. Alpha Hospitality
that were thought to be favourites to win the management contract have
apparently been beaten by Park Place Entertainment's. The worlds largest
casino operator intends to loan the tribe $3 million in exchange for the
development and management contract at the Monticello raceway site.
27th
April Colorado Source:
Press release
Some
interesting statistics were contained in a Nevada
Gold & Casinos release. The Colorado gaming market, which on the
table side is limited to $5 bets has grown to now be worth over $500 million
annually. In 1991 Black Hawk had revenues of $56 million and in 2000 it
is expected to surpass $400 million. Nevada Gold has a 43% stake in the
Isle of Capri casino in Black Hawk which is the states largest casino.
26th
April Connecticut Source:
Press release
The
Mohegan
Sun one of the two Connecticut Native Indian casinos has reported gross
gaming revenues of $175 million for the quarter ended March 31st. This
represents a 15% increase over the same period in 1999. Win per slot, per
day was $475 ($410) with slot revenue accounting for $130 million of the
total (74%).
The Mohegan Sun Tribal Authority is also embarking on an ambitious $800
million expansion programme "Project Sunburst", that will add some 115,000
square feet of gaming floor and a 1,200 room hotel.
25th
April Las Vegas Source:
Press release
Boyd
Gaming Corp. owners of Sams Town Las Vegas have chosen Casino
Data Systems OASIS™/Windows® system as an upgrade from the present
OASIS II casino management system that was installed in 1994. All Sams
Town's 3,250 slots and 53 tables will be linked. Nationwide CDS has some
135,000 gaming devices in 115 casinos monitored using the OASIS system.
24th
April Mississippi Source:
Sun Herald/Press release
The
acquisition of Casino
Magic, Bay St Louis and Boomtown Biloxi by Penn National Gaming has
been given the all clear by the Mississippi Gaming Commission. The two
casinos were put on the market by Hollywood Park (now Pinnacle Entertainment)
that itself is now the subject of a takeover from Harveys Casino Resorts.
The two properties will be the first casino operations run by Penn National
that has racetracks and off track betting facilities in Pennsylvania. Plans
are to add 600 hotel rooms to Bay St Louis. The casino will also continue
to operate under the Casino Magic name.
Big
plans set for Bay casino
Penn
National Gaming Gets Miss. Regulatory OK To Buy Casinos
20th
April Biloxi Source:
CJPG Press release
The
upcoming Southern Gaming Summit in Biloxi, Mississippi between May 10 -
11th will include more than 250 exhibitors. Jointly organized by the Gulf
Coast Gaming Association and Casino
Journal Publishing Group the 1999 event had 5,000 attendees.
The
Casino
Management Association is conducting a series of six seminars with
the award of "Southern Gaming Summit Gaming Professional" for delegates
who complete the series.
19th
April Chicago Source:
Press release
William
Gaming Inc. have announced that Scott D. Schweinfurth will be taking
up the position of Executive Vice President-Chief Financial Officer and
Treasurer. Mr Schweinfurth previously held virtually the same position
with slot manufacturing competitor Alliance Gaming Corp. having been stationed
in Berlin at Alliance's Bally Wulff subsidiary.
Scott
D. Schweinfurth Named Chief Financial Officer of WMS Industries
19th
April New Orleans Source:
Press release
Boyd
Gaming Corp. that owns 11 casinos in Nevada, Mississippi, Illinois,
Indiana & Louisiana has recorded record results for the quarter. Casino
revenues were $225 million up 21% on 1999. Main properties in the companies
portfolio including the Stardust and Sams Town, Las Vegas. The Par-A-Dice
riverboat in Illinois and Sams Town in Tunica, Mississippi. Boyd is also
developing the Borgata
resort in Atlantic City in partnership with Mirage Resorts.
19th
April New Orleans Source:
Press release
The
Louisiana Gaming Control Board has released March revenue figures for the
New Orleans Harrah's casino. Win was $20.5 million, up slightly on February's
result. The casino is operated by Jazz Casino Company and managed by Harrah's
who themselves part own Jazz. The casino employs in the region of 3,000
people and New Orleans parish benefits to the tune of $100 million annually
in direct taxes from the operation.
18th
April Glendale, California Source:
Reuters/Press release
The
takeover of Pinnacle Entertainment (that was a few months ago known as
Hollywood Park Inc.) by Harveys
Casino Resorts has been announced with the signing of a definate agreement
between the companies. The newly formed PH Casino Resorts will result from
the payment of $24 per Pinnacle share by privately owned Harveys. Including
the assumption of debt the deal is valued at $1.3 billion.
The merger will create a company with 10 casinos in 5 US juristictions,
two of which are presently up for sale by Pinnacle to Penn National Gaming
Inc. There are also 2 casinos in Argentina that are run under the Casino
Magic brand.
14th
April Missouri Source:
Dow Jones
On
11th April the Missouri Gaming Commission announced that the 10 riverboats
in the state had revenues of $90 million up 22% over the $73.8 million
achieved in 1999.
Admissions
were up 28% to 4.3 million giving gaming win per pax of $21.
Missouri
Casinos' March Gaming Win Rose 22% To $90.1M
14th
April Atlantic City Source:
Dow Jones/NJ
Casino Control Commission
Revenues from the 12 casinos in Atlantic City for March were $361 million.
This represents an 8% rise from the $334 million recorded in 1999. Slots
continue to dominate the bottom line with a win of $262.7 million (72.7%)
Table games win was $98.5 (27.3%).
Harrah's showed a win of $35.4 million up 20% on 1999, of which almost
85% came from the slot department.
N.J.
Casinos March Gaming Revenue $361.2M Vs $334.7M
13th
April Las Vegas Source:
Press release
The
Venetian
privately owned by Las Vegas Sands Inc. has reported gross revenues of
$177 million for the first quarter. Casino win totalled $96 million of
which table games made $70 million on a drop of $294 million, a hold of
24%. Hotel occupancy averaged 94% at an average room rate of $181 per night.
13th
April Las Vegas Source:
Press release
Shuffle
Master Inc. has announced that its PC based slot Press Your Luck™ has been
approved for trials by the Nevada
Gaming Control Board. Ten of the machines have been installed at the
Excalibur with the trial expected to last 60 to 90 days. The Press your
Luck™ theme is taken from a 1980's television series and was debuted at
the 1999 World Gaming Congress & Expo.
13th
April Las Vegas Source:
Press release
Las
Vegas based casino equipment manufacturer Paul-Son
Gaming Corporation has announced turnover of $6.33 million for the
first three months of 2000 slightly up on the same period in 1999. Earnings
per share after all costs and expenses was $0.03 for the period. Paul-Son
has its main manufacturing facilities in San Luis, Mexico.
11th
April Las Vegas Source:
Press release
Station
Casinos Inc. have announced record revenues for the 11th consecutive
quarter. Revenues for the company were $255 million for the first 3 months
of 2000 an increase of 11% over the same period in 1999. Earnings per share
standing at $0.53 cents for the 3 months.
The company operates 5 "locals" casinos in Las Vegas and Henderson, Nevada
and 2 riverboats in St. Charles and Kansas City, Missouri. Revenues from
casino operations in the two states were $160 million $82 million respectively.
11th
April Nevada & Chicago Source:
Press release
Williams
Gaming Inc. has announced that it has received approval from the Nevada
Gaming Commission for the introduction of MONOPOLY™ Movers & Shakers®.
The company expects placement of the machines to commence shortly. The
game is a nine line, five-reel video slot and is the sixth model of machines
utilizing the MONOPOLY theme that Williams has under exclusive license
from Hasbro Inc.
WMS
Gaming's Monopoly Movers & Shakers Participation Game Approved for
Sale in Nevada
9th
April New York Source:
Bergen Record/AP/Reuters
The
push to legalise casinos in the Catskill Mountains, North West of New York
has made progress with the federal recognition of the St. Regis Mohawk
Indians. The tribe wish New York State to place the Monticello raceway
in trust so that they can then build a $500 million casino. The tribes
partners in the programme are Alpha Hospitality who are the proposed managers
of the property that could have a 160,000 sq.ft. gaming floor with 3,000
video lottery terminals and 200 tables.
Big
M may feel pinch from Monticello casino
7th
April New Jersey Source:
NJCCC/Dow Jones
The New
Jersey Casino Control Commission have released annual results for the
12 Atlantic City casinos. Revenues were $4.5 billion in 1999 up 2.4% over
1998's results. Hotel occupany rates averaged 91.3% for the year up 2.3%
on 1998. Bally's Park Place had operating profits of $166 million and Harrah's
$130 million. The later showing an year on year increase of 21%.
7th
April Las Vegas Source:
Press release
MGM
Grand have announced some boardroom changes including the return of
J. Terrance Lanni in a full time capacity. He will continue as Chairman
of the Board of Directors of MGM Grand and Chairman of its Executive Committee.
Robert H. Baldwin will become President and Chief Executive Officer of
Mirage Resorts, subject to the the acquisition being completed.
6th
April Las Vegas Source:
Press release
Mikohn
Gaming have released an upbeat forecast for the company during the
rest of 2000. Some details on the Yahtzee™ slots include that the company
now has 1,215 machines on signed contracts with a currently installed base
of 560. The number of installations increasing by 50 units per week. Each
1000 machines sited also being calculated to add 50 cents to earnings per
share.
6th
April Las Vegas/Mississippi Source:
Press release
Shuffle
Master
have announced an order of 40 shuffling machines from the Silver Star Resort
& Casino in Mississippi. An order worth in the region of $450,000.
Operated by the Mississippi Band of Choctaw Indians the machines will be
placed on each of the properties tables. The company also announced that
Gaming
Laboratories International (GLI) have approved the King™ multi-deck
shuffler. The Ace™ is the single deck model.
5th
April Detroit Source:
Detroit Free Press
The
Detroit
Free Press detailed on the 29th March the delays surrounding the opening
of the Greektown Casino. Presently owned 50% by the The Sault Ste. Marie
Tribe of Chippewa Indians and 10% by a group of "black Detroiters" the
problems concern the remaining 40%.
Licensing troubles have resulted in the individuals concerned being required
to sell their stake. The DFP goes on to detail who the likely bidders are
and when if ever the property will open for business. Detroit City expects
to have received most of the budgeted $51.5 million in taxes by June even
with only 2 of the 3 casinos open.
Greektown
Casino faces more delays
5th
April Indiana Source:
Dow Jones/IGC
The
Indiana
Gaming Commission have released February results for the nine riverboats
in the state. Revenues were $144.8 million in February a 3.1% rise from
February 1999. The increase came despite admissions falling almost 15%
to 2.9 million. Combined average daily admissions for the boats translating
to approximately 100,000 per day. Win per pax being slightly under $50.
Indiana
Casinos Feb. Gross Winnings $144.8 Million Versus $127.1 Million
4th
April Lake Tahoe Source:
Press release
Harvey's
Casino Resorts that operates 4 properties most notably Harveys Casino
& Resort in Lake Tahoe has reported revenues of $109 million for the
three months ended February 29th. This according to the press release is
the strongest quarter that the privately owned company has achieved since
its founding in 1944.
4th
April Iowa Source:
Dow Jones/Excite News
The Iowa Racing
and Gaming Commission has released figures showing that the 10 riverboats
in the state have recorded a 22.5% rise in revenues for February 2000 compared
with 1999's results. Total revenues for the month were $51.8 million and
an average daily win per slot of $173.
Iowa
Casinos Feb. Adjusted Gross Revenue $51.8 Million Versus $42.3 Million
4th
April Nevada Source:
Press release
The
third edition of Nevada Gaming Law published by the Law firm of Lionel
Sawyer & Collins is now available. Edited by Anthony Cabot the book
covers the history and legal analysis of Nevada's control of casino gaming.
Other notable titles authored or edited by Mr Cabot include Federal Gambling
Law, International Casino Law and The Internet Gambling Report.
2nd
April New Jersey Source:
Press release
Casino
Careers have announced that the Belterra Resort and Casino, a division
of Pinnacle Entertainment Inc. has signed up as a Corporate Member to access
the companies database of casino personnel who have posted their CV's online.
The company has over 65 casino operators, cruise lines and other clients
signed up for the service to help solve their industry recruitment needs.
1st
April San Diego Source:
Press release
International
Thunderbird Corp. have released 1999 results that show a 19% rise in
revenues to $17.7 million. Profit for the year was $812,000 against a loss
of $11.28 million in 1998. The company has operations in in British Columbia,
California, Guatemala and Venezuela and recently entered into a contract
with Cryptologic to provide software for an online casino targeting the
latin American market.
Thunderbird
announces 1999 year end results
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