31st
January Connecticut Source:
Press release
Foxwoods
the worlds largest casino has installed facial recognition technology as
part of its surveillance system. The product chosen for the task was from
Biometrica systems Inc. and allows for the identification of individuals
on site or at remote locations.
The casino gets on average 40,000 visits per day and has around 6,000 slots
and 350 table games.
27th
- 28th January Las Vegas Source:
ABC News/ Press releases
The
World record slot jackpot hit at the Desert Inn Las Vegas on the 27th,
received a great deal of media attention. The jackpot of just under $35
million was won on IGT's Megabucks. The linked system is to be found in
157 Nevada casinos. The winner was Cynthia Jay a 37 year old cocktail waitress
at the Monte Carlo.
Remarkably, the Desert Inn celebrates its 50th birthday in April, it was
the 5th hotel and casino to be built on the strip. Sun International are
presently involved with purchasing the property that is perhaps best known
as being the final headquarters for the reclusive Howard Hughes.
World's
Biggest Slot Jackpot Won in Las Vegas
Woman
Wins $34.9 Million in Vegas Slots Jackpot
26th-
28th January Detroit Source:
Various
The
tragic suicide of off duty policeman Solomon Bell at the Detroit MotorCity
casino will have wide scale future implications for security and safety
of customers and staff at all US casinos.
Before taking his life Sgt. Bell is thought to have lost between $15 and
$20,000 at the Detroit MGM Grand and the 6 week old MotorCity. Management
re-opened the high stake 4th floor of the facility after a clean up of
the scene, a decision that has understandably come in for criticism. Both
of the casinos had no metal detectors at the entrance. In Nevada none of
the 400 or so casinos in operation presently have metal detectors.
Below
are links to the story as covered in the Detroit News and Detroit Free
Press.
Suicide
at blackjack table
Gun-carrying
bettors usually not a concern
MotorCity
dealers saw trouble coming
27th
January Las Vegas Source:
LA Times
The
controversial issue of cartoon characters being used on gaming machines
looks to have been settled. The Nevada Gaming Commission has voted 5-0
in favour of implementing tough regulations regarding the use of "Child
friendly" themes.
At the WGCE in September, IGT and other manufacturers had a selection of
branded slots based upon cartoons such as the Pink Panther, South Park
and Betty Boop. Themes that were created over 21 years ago such as the
"Addams family" and "Munsters" will be permitted.
24th
January Connecticut Source:
Press Release
The
Mohegan Tribal Gaming Authority, operators of the Mohegan Sun in Connecticut
announced gross revenues of $202 million for the three months ending December
31st.
Gross win per slot per day was $444. The table game and slot revenue split
was $39.2 million (24%) and $121.4 million (76%) respectively. The Mohegan
Sun website can be found at www.mohegansun.com
21st
January Detroit Source:
Detroit News
The
Mandalay Group had paid seven of the original local investors in the MotorCity
casino $4.5 million for each 1% of their holding. Four Greektown investors
are also contemplating selling their shares to the Marie Chippewa Tribe
(who currently own 50%), due to licensing problems.
Ex-casino
investors cash out for millions
20th
January Las Vegas Source:
Press release
MGM
Grand has
once again reported record setting quarterly results. Here are some of
the amazing statistics over the last 3 months of 1999. The newly opened
MGM Detroit showed gross revenues of over $100 million (2,451 slots and
85 table games). The 5,000+ room MGM City of Entertainment had net revenues
of $203 million. The average daily hotel rate was $111 on an occupancy
level of 89% .
New York - New York chipped in revenues of $50 million. The MGM Grand in
Darwin, Australia produced $10.3 million and the Primm properties from
the acquisition of Primadonna Resorts in March 1999, revenues of $54.4
million.
20th
January Reno, Nevada Source:
Press release
IGT
have released the companies first quarter results. After tax income was
$26.3 million on gross revenues of $206.5 million. Sales of machines to
international markets totalled 19,500 units and to the US 8,400.
The company debuted a vast array of new, mainly branded video and reel
machines at the WGCE in September. Video, multi coin, low denomination
slots continue to show greater popularity with the American public. The
successful Wheel of Fortune now being also supplied in $0.05 video format.
20th
January Paradise Island, Bahamas Source:
Press release
Sun International releasing
its 4th quarter results detailed the effects of Hurricane Floyd on business
at the companies Atlantis resort on Paradise Island. Damage from Floyd
resulted in a $12 million payout from insurers under a "business interruption"
clause. The company has the management contract for the Mohegan Sun casino
in Connecticut. In Atlantic City, Sun operates the Resorts Hotel &
Casino.
The completion of the purchase and licensing of the Desert Inn in Las Vegas
is not expected until the second half of 2000. On the Web the companies
US and Bahamian interests plus corporate news may be found at www.sunint.com.
African and South African Hotel and Casino interests are located at www.sun-international.com
19th
January New York/Las Vegas Source:
Reuters
Financial
analysts are generally in a bullish mood for the coming year on US gaming
companies. Reuters has a report containing upbeat statements from Robertson
Stephens senior gaming analyst Harry Curtis and from Bear Stearns Jason
Ader.
The major Las Vegas Strip properties apparently did well over the Christmas
and New Year period and have strong bookings for the upcoming Chinese New
Year celebrations. Both Mirage and MGM Grand are expected to achieve earnings
targets.
19th
January Las Vegas Source:
Press release
Mikohn
Gaming Corp.
a company that a few years ago was best known for signage design and manufacturing
has announced that two of its trademarked progressive table games have
been approved by US state commissions. Monopoly Poker Edition has been
approved by the Mississippi Gaming Commission and Wild Aruba Stud Poker
by the Nevada Gaming Commission.
The company also has what is described as its first "Electronic Pit" installed
at the Grand Casino, Biloxi. This is a linking of 8 Progressive Blackjack
tables, two Monopoly and two Tre'Card Stud. The games are linked to a display
containing three progressive jackpots.
18th
January Las Vegas Source:
Press release
The
spring Western Gaming Congress has been postponed by organizers Gem
Communications. The show was originally scheduled to run alongside
the Bingo World conference at the Las Vegas Hilton 29 - 30th March. The
company will now be concentrating on their Atlantic City show, the Mid
Atlantic Gaming & Entertainment Congress and Expo in April
18th
January Las Vegas Source:
Press release
Harrah's
Entertainment
that was in mid 1999 voted by Casino Player readers as having the best
Hotel and Casino in both Atlantic City and Las Vegas has also been listed
as one of the Forbes Platinum 400 companies.
Harrah's is the only gaming company to make the list, which is a refined
version of the Market Guide database of over 1,600 companies that have
annual sales in excess of $750 million. The company has also been recently
listed among the Top 500 Most Innovative Companies by Information Week
Magazine.
16th
January Chicago Source:
Chicago Sun Times
The
Sun-Times carried a story speculating that Park Place Entertainment's,
currently the worlds largest casino company could be looking for opportunities
in the Chicago area. Illinois is currently rated No. 4 in the US by gaming
revenues.
Park Place was originally formed in 1998 when Hilton Hotels Corp. sold
its casino business. Recent purchases made by the company under Chief Executive
Arthur Goldberg include Grand Casinos, based in Mississippi for $835 million
and the newly completed purchase of Caesar's World for $3 billion from
Starwood Hotels & Resorts World-wide Inc.
14th
January Las Vegas Source:
Press release
Paul-Son
Gaming Corp.
the Las Vegas based gaming equipment manufacturer have unveiled their second
quarter results to Nov. 30th. The company has reported a net loss of $1.13
million on revenues of $4.9 million. The poor results being blamed on the
absence of new casino openings during the period. Also announced was the
acquisition of a patent and equipment for the more efficient and cost-effective
production of synthetic table layouts.
14th
January San Diego Source:
Press release
Vancouver
based casino operator International
Thunderbird Gaming Corp. have announced that they have signed a letter
of intent with the Campo Band of Kumeyaay Indians in California for the
financing, construction, and operation of a "turn-key" gaming facility
on reservation land approximately 60 miles east of San Diego. The deal
is subject to the passing in State elections of Proposition 1A on March
7, 2000.
Full
Story
13th
January Washington Source:
Excite/Dow Jones
Illinois and Missouri December casino revenues have been released by their
respective Gaming Commissions. Illinois gaming revenues(win) continue to
surge ahead due to the change in the law that allows the 9 riverboats to
engage in dockside gaming. The gross win for the month was $124 million
on 1.5 million admissions. The same figures for 1998 were $98 million win
on 1.1 million admissions.
In Missouri the gaming win from the 10 riverboats in operation was $78
million on 4.1 million admissions. The same totals for 1998 were $73 million
win on 3.3 million admissions.
Full
figures Illinois,
Missouri
13th
January Atlantic City Source:
Yahoo/AP
The 12 Atlantic City casinos recorded a highest ever gross win of $4.1
billion in 1999 according to figures from the New Jersey Casino Control
Commission. Slots contributed $2.9 billion and tables $1.2 billion a percentage
split of 70/30. Casinos have now been legal in Atlantic city for 21 years.
The figures show a modest increase from 1998's win of $4 billion.
11th
January Las Vegas/Sydney Source:
Press release
Harrah's
Entertainment have announced that the sale of its interests in the
Sydney
Star City casino have been completed and that after taxes and expenses
the sale has realized $200 million. The take-over bid from Melbourne based
Tabcorp
Holdings Ltd was originally made in April 1999. Since that time
the terms of the deal were revised before being approved by the Star City
board and shareholders.
With the Sydney 2000 Olympic games now on the horizon Tabcorp should have
no shortage of potential punters through the doors. It would appear to
be an extremely attractive purchase.
10th
January Canada Source:
CGN
Canadian
Gaming News have announced further details of the upcoming 4th Canadian
Gaming Summit and Exhibition in Winnipeg, Manitoba on the 9th to 11th May.
As well as the suppliers exhibition there will also be the Canadian Gaming
Industry Awards Dinner, policy workshops and luncheons with keynote speakers.
Surprising for many is the fact that Canada now has 66 gaming properties
and a total of 71,238 slots and 1,854 table games. CGN is a monthly bulletin
published and edited by Ivan Sack specializing in the latest industry news
and developments. Further details may be found at www.canadiangaming.com
6th
January Toronto Source:
Yahoo/Canadian Corporate News
Clairvest
Group Inc. a Toronto based merchant bank has increased its equity stake
in privately owned Gateway Casinos Inc. of Vancouver. The additional investment
of C$24 million means that Clairvest now owns 28% of the company.
Gateway operates three casinos in the Vancouver area and one in Edmonton,
Alberta with a combined total of 120 table games, 724 slots and around
1000 employees.
6th
January Las Vegas Source:
Yahoo/AP
A
man has jumped to his death from the 1,149 ft Stratosphere tower. The 24
year old first climbed over two fences one 5 ft and the other 10 ft in
height before jumping and initially bouncing off the observation area.
No one on the ground was injured.
6th
January Las Vegas Source:
Press release
The
adoption of a single standard in communication and technical development
among gaming machine manufacturers has been boosted after the recruitment
by the Gaming Manufacturers
Association of a full time Technical Director.
Daniel J. Colgrove has been appointed by GAMMA after a spending 15 years
as a Senior Engineer at IBM.
5th
January St. Louis Source:
Press release
The
July 1999 decision to allow Illinois riverboats to open for gaming
without physically cruising has dented the operating results of President
Casinos Inc. The company has 2 riverboats located on the western side of
the Mississippi, in Davenport, Iowa and in St Louis, Missouri. President's
third riverboat is located in Biloxi, Mississippi. Revenues for the third
quarter were static at around $50 million.
4th
January Biloxi, Miss. Source:
Press release
Casino
Resource Corp. has announced that it will soon change its name to BounceBackTechnolgies.com.
This follows the purchase of Raw Data Inc. and what is described as a change
of direction by the company. On the sales block is likely to be the companies
North Africa operation Casino Caraibe located in Sousse, Tunisia.
4th
January Atlantic City Source:
Press release
Casino
Journal Publishing Group have announced that the 2000 edition of the "Gaming
Sector - Yesterday, Today and Tomorrow" report is now available. This is
the 6th such annual report and has comprehensive analysis of 23 publicly
traded gaming companies.
The publication also has an analysis of the Internet gaming market and
predictions for the future for this quickly growing, but controversial
sector of the gaming industry. Further details of the report that retails
for $49.95 can be gained from the companies web site www.casinocenter.com
3rd
January Las Vegas Source:
Reuters
The
burgeoning Las Vegas population and the needs to fund Education and highway
projects could mean Nevada's casinos will have to pay more in taxes in
the future.
Democratic state senator Joe Neal is set begin a signature petition to
raise taxes on casinos that have gross revenues of more than $1 million
per month from 6.25% to 11.25%. The proposals would raise in the order
of $388 million if passed in 2001 by the state Legislature.
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