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August 1999
North America

30th August    Las Vegas   Source: Press release
   
On the eve of opening Bear Stearns & Co has said that with $785 in development costs the 2,916 room Paris Hotel and Casino could generate a return on capital invested of 14-16%.
    Room rates in Las Vegas have risen by 15-20% in 1999 and visitor levels are expected to be 10 to 12% up on 1998.
 

30th August    Las Vegas   Source: Press release


   The Sinclair Group has announced an ambitious plan to bring casino trains to Las Vegas. The company has purchased the Primm Valley Transit Authority and plans to run trains over existing Amtrack lines also connecting Henderson, Caliente, and Boulder City.
    The trains including a reproduction of the famous Flagler car are intended to be customised by individual casino sponsors and have live gaming onboard.
Full Story:
All Aboard! ... 'The Casino Train to Vegas'
 

27th August    Atlantic City   Source: AP


   According to reports from the Associated Press the death of a German tourist on 25th August brings the number of suicides, caused by jumping from buildings to three in eight days.
    The other two being a gambler who had reportedly lost $87,000 and a dealer from Ceasars Atlantic City.
 

25th August    California   Source: Various


   The prospect of major casinos being developed in California by native Indian tribes has been turned down by the California Supreme court in a 6 to 1 ruling.
    The voter approved Proposition 5 would have meant that the 107 Indian tribes in the state would have been able to add video slots and blackjack tables to their lottery operations.
    The original Proposition, to allow the tribes to offer more forms of gambling was opposed by Las Vegas, eager to protect its lucrative custom from California. The total spend on the campaign being estimated to have cost $89 million with the Indian groups spending some $60 million to get the required 63% of the vote.
    Indian tribes gained the right in 1988, as sovereign States under signed treaties with the US Federal Government, to operate their own lotteries. Indian tribes current share of the of the $47 billion market being estimated at $6.7 billion.
 

22nd August    Detroit   Source: Wahington Post



  According to an article in the Washington Post in the first three weeks of operation the MGM Grand Detroit has been averaging 24,000 visitors a day. The city is hoping to get $50 million from tax revenues this year towards a $2.9 billion budget. The city and state receive 18% of casino gross profits.
 

20th August    Nevada   Source: Press release


Phoenix Leisureís Gaming Vessel Arrives in Gulf Coast
    Phoenix Leisure Corporation (VSE: PLS), today announced that its gaming vessel has arrived at its new temporary home in Port Bienville, Mississippi. The arrival marks the end of its 4,000-mile journey from Windsor, Ontario to the Mississippi Gulf Coast.
  The gaming vessel, the former Northern Belle, was purchased by Phoenix Leisure for US$2.2 million from Park Place Entertainment Corporation in early June.  The vessel departed Windsor on July 18 on a journey taking it around the US Atlantic coast and into the Gulf of Mexico.
 

19th August    Las Vegas   Source: Press release


    Harrah's Entertainment, Inc. that operates 18 properties in the United States and has a stake in the Sydney Star City casino has  announced that it has signed a definitive agreement to acquire Players International, Inc.
 

17th August    Las Vegas   Source: Various


    The opening date for the latest Las Vegas mega resort, Paris has been set for September 1st. It will be the fourth major opening in the last 12 months following on from Bellagio in October 98, Mandalay Bay in March and the Venetian in May.
    The scale replica of the Eiffel tower measures 542 feet with an observation tower on top. Three of the legs for the structure rise from inside the 85,000 square foot casino.
    Since 1989 the number of hotel rooms in Las Vegas has nearly doubled, from 67,390 to the present 120,000, with the number of annual visits jumping from from 18.1 million a decade ago to 30.6 million in 1998.
 

5th August    Detroit   Source: Various


Detroit $4.8 million in three days!
  The new MGM Detroit pays 18% in state taxes on gross profits. After the first three days of operation they handed over $866,666 to the local authorities.
    The revenue of around $4.8 million has come from circa 3,000 gaming positions of which 2,370 are slots. It was not stated in press reports wether food and beverage revenues are included. Taking off 10%, this still represents win per gaming position each day running at over $500.
 

5th August    Las Vegas   Source: PRNewswire/Press release



    Following on from the antitrust lawsuit filed by Alliance Gaming against IGT in July. Mikohn has revealed that its subsidiary Progressive Games Inc. has been granted a temporary injunction against Shuffle Master that will prevent the company from offering or distributing its "Bahama Bonus" table game. Mikohn claiming that its patents regarding progressive jackpots have once again been infringed upon.
 

4th August    Las Vegas   Source: Press release


  Anchor Gaming that merged with Powerhouse Technologies earlier in the year has announced 4th quarter and year end results. These show an increase in gross revenues to $249 million up 7% on 1998. Net profits were down 30% at $47 million. The fourth quarter saw one off charges of $17 million associated with the merger.
 

3nd August    New York   Source: Press release


   American consumer spending in the gaming industry reached $54.3 billion in 1998. Significantly ahead of spending on all movie tickets, spectator sports, cruise ships, recorded music and theme parks at $40 billion. Those are the findings of IGWB's 1998 "Gross Annual Wager'' report.
    Check out the IGWB website at  http://www.gemcommunications.com for more information on the report. As well as the upcoming World Gaming Congress in Las Vegas. September 14-16th.
 

3nd August    Las Vegas & Mississippi   Source: Press releases


Phoenix Leisure ships Northern Belle to Mississippi.
    The company announced in June the purchase from Park Place Entertainments the former Northerne Belle for $2.2 million. Docked alongside Casino Windsor since December 1995  the riverboat vessel (built in 1994), has a capacity for 1,500 passengers, 828 slot machines, 38 table games and contains approximately 23,000 square feet of gaming space.
    The transportation of the ship along the St Lawrence seaway and then down the Atlantic coast to its new home in Mississippi got underway in mid July. The journey is expected to take six weeks.
    The following Press releases give detail to transportation as well as the application for a Mississippi gaming licence.
Phoenix Leisure Corporation (VSE: PLS) today announced the purchase of a gaming riverboat vessel through itís wholly owned subsidiary, Phoenix Leisure, Inc. from Park Place Entertainment Corporation
Phoenix Leisure Files to Apply for Gaming License in Mississippi
Phoenix Leisureís Gaming Vessel Begins Journey to Gulf Coast
Phoenix Leisure Unveils Plans For New Gulf Coast Gaming Resort
 

2nd August    Las Vegas   Source: Press release


    Mikohn has announced that the Mississippi Gaming Commission has given approval to its Tre' Card Stud progressive poker game.
    Earlier in the year Mikohn aquired the game of Three Card Poker a game based on British Brag that has proved popular in the state. The new game is a variation that allows the player to make an additional side bet on certain hands for progressive jackpots.
    The company is expected to begin marketing the game in the state immediately.