31st
May Las Vegas Source:
Press release
The Gaming Manufacturers
Association that as one of its goals seeks to promote unified standards
in the communication and manufacture of gaming equipment has announced
that Station Casinos has become a Platinum member. The organization was
incorporated in May 1998 and now has 38 members. Other Platinum member
operators include Harrah's, Mandalay Group and Park Place Entertainments.
31st
May Las Vegas Source:
AP/Press release
Approvals
have been gained from all parties concerned and Kirk Kirkorian's MGMGrand
acquisition of Mirage
Resorts appears now to be a completely done deal. The Nevada Gaming
Commission voted 5-0 in favour of the merger that values Mirage Resorts
at $21 a share and has a total worth of $6.4 billion - the biggest consolidation
of casino assets ever.
Steve Wynn did own 23% of Mirage and is now set to develop the Desert Inn
which he purchased from Starwood Hotels for $270 million. The Bellagio's
art collection assembled by Mr Wynn would appear to be embarking on the
short journey northwards shortly.
* 86 days form offer to
completion. The squabbles over domain names will probably take longer!.
31st
May Antigua Source:
Press release
Paramount
Trading based in Antiqua has announced the launch of Blackjack.com.
Following the purchase of the domain for $460,000 the site is now under
Beta testing with seven different game varieties. As well as American rules
there is also the European version where the dealer takes only one card
on the original deal.
The site is presently in play for free mode and players may also earn $25
by reporting software bugs (undocumented features - as programmers would
say) to the company.
30th
May Reno Source:
Press release
The 11th International Conference on Gambling & Risk-Taking is being
held at the MGM Grand, Las Vegas 12th to 16th June. Over 200 speakers from
16 countries are scheduled to participate in 97 different sessions.
Among the many topics to be covered are spread of Internet gaming and government
efforts around the world to legislate it. Bookmaking, and the ever thorny
issue of problem gambling. The conference is organized by the Institute
for the Study of Gambling and Commercial Gaming at the University of
Nevada, Reno
International
experts debate world's gaming industry at major Las Vegas conference June
12-16th
30th
May Source:
Gaming Investments
The
Morning Gaming Report is a subscription newsletter for investors in the
US casino industry. Authored by Frank Fantini at GamingInvestments.com
we reproduce part of the edition from May 30th.
With the incorporation of Mirage under the MGMGrand umbrella on Wednesday
70% of the business in Atlantic City will be controlled by three companies.
In Las Vegas MGM, Park Place and Mandalay Group will also control 70% of
the Las Vegas Strip.
The
Gaming Morning Report 30th May - Time of transition
24th
May Las Vegas Source:
Press release
Over
500 gaming executives and management are expected to attend the Casino
Ops conference in Las Vegas June 12 - 13th. Jointly organized by The UNLV's
International Gaming Institute and Casino Journal Publishing Group with
assistance from the Casino Management Association. The 2000 event is scheduled
to have over 100 speakers.
The conference and seminars are designed to give members of middle and
lower management in gaming operations a well-rounded overview of how a
successful casino functions.
23rd
May Arizona Source:
Press releases
Atronic
Americas LLC. owned by the European Gauselmann
Group has made three announcements recently. Joe Bailo and Grant Thorburn
being promoted to Vice President of Sales and Regional Vice President of
Sales. The companies I.C. Money with an Arctic theme has been approved
by the Mississippi Gaming Commission.
Finally that game testing company Gaming
Laboratories International (GLI) has pronounced that several of the
companies slot models have been deemed suitable for a variety of gaming
markets in the US.
22nd
May Las Vegas Source:
Press release
Shuffle
Master Inc. has reported record revenues of $9.6 million for the quarter
ended April 30th. The installed number of shuffling machines now stands
at over 2,500. The companies Table game department coming on strong and
now having almost 900 leased games that include Let it Ride® and Three
Card Poker®.
On the shuffler front, the ACE™ single deck machine traditionally used
on games like Caribbean Stud has now been joined by the Multi deck KING™
that is finding a place on the corner of Blackjack tables.
22nd
May Jackson, MS Source:
Sun Herald
The
University of Southern Mississippi is coming to the conclusion of a year
long study into the states casino industry - presently the third largest
gaming market in the US. The results will be eagerly awaited by operators
who at the moment pay 12% taxes on gross revenues (8% state & 4% local)
and legislators who are looking for ways to raise more funds for a teacher
pay increase. The report is expected to be released at the end of June.
Casinos
hope study helps keep taxes low
20th
May Las Vegas Source:
Press release
Las Vegas based Coinless Systems Inc. that manufactures barcode ticket
verification equipment for video and spinning reel slots has signed a sales
and distribution agreement with Gaming
Systems International.
As part of the deal, CSI's patented TickeTrak® that prints secure
tickets that can be redeemed at the machine or cashier will be incorporated
into GSI's GAMBIT™ Resort Management System. There is an increasing interest
in coinless gaming from operators who are keen to reduce overheads and
increase security. The drawback to such systems in competitive environments
is ensuring public acceptance prior to the full changeover.
19th
May Las Vegas Source:
Poker Search
Winner
of the 2000 World Series of Poker is Chris Ferguson who picks up the $1.5
million first prize. Going into day four of the $10,000 "No Limit" competition
he had a commanding chip lead over his opponents. Second prize and almost
$900,000 went to Thomas (T.J.) Cloutier who was in sixth place at the beginning
of play. 512 players began the premier event creating a total prize pool
of $5.12 million. Winners were paid down to the 145th position ($15,000)
18th
May Atlantic City Source:
Dow Jones
April
statistics from the New
Jersey Casino Control Commission show that revenues were up almost
6% to $366.8 million over April 1999. The big surprise is that table games
win jumped 12.7% to $105.5 million. Slots win was $261.2 million or 71%
of the total. At the two casinos with the greatest revenues - Park Place
& Taj Mahal, table game win was 33% and 39% respectively.
It will be interesting to see if this slight revival in table games fortunes
continues.
N.J.
Casinos April Gaming Revenue $366.8M Vs $346.2M
18th
May Las Vegas Source:
Conjelco/Poker Search
World Series of Poker
The
climax to the 31st World Series is the $10,000 entry "No Limit" Texas Hold'
Em competition. The $1.5 million first prize and the title of World Champion
will be won today at Binions Horseshoe in Las Vegas.
Of the record 512 entries for the event (a total prize pool of $5.12 million)
there are now 6 players left at the final table. Play will commence at
12 o'clock midday Pacific time
Chip
leader going into the last day is Chris Ferguson with $2,853,000 this is
around $600,000 more than the other 5 players combined. Check out who the
winner is at Conjelco and Poker Search who have covered the entire competition.
http://www.conjelco.com/wsop/event25.html
http://www.binions.com
18th
May Chicago Source:
Press release
WMS
Industries Inc. parent company of slot manufacturer WMS
Gaming has announced that Donna B. More has been appointed to the Board
of Directors. Orrin J. Edidin will also take over as Executive Vice president
as well as Secretary and General Counsel for the company and its subsidiaries.
WMS
Industries Names Donna B. More to Its Board of Directors
17th
May Illinois Source:
Dow Jones
Statistics
from the Illinois Gaming Board
for April show revenues for the nine riverboats in the state steaming ahead
31.6% to $141 million . Admissions for the month were 1.6 million or an
average per boat per day of 5,900. Gross gaming win per pax per day standing
at $88. The riverboats in the state have shown significant increases in
revenue since the requirement to physically cruise was removed in June
1999.
17th
May New Orleans Source:
Press release
The
New Orleans casino that is owned by JCC Holdings and managed by Harrah's
New Orleans Management Company had a gaming win of $19 million in April
according to figures from the Louisiana Gaming Board. In a press release
from JCC, the minimum payment of $100 million annually that is due to the
state of Louisiana means the company is in effect paying an annual tax
on win of 45%, a rate that is 5 times higher than competing casinos on
the Mississippi Gulf Coast
The property that opened in October 1999 has 100,000 square feet of gaming
floor and employs in the region of 3,000 people.
15th
May Las Vegas Source:
Press release
Casino
Journal Publishing Group Inc. that offers a broad spectrum of products
and services to the gaming Industry has recorded gross revenues of $3.4
million for the quarter ended 31st March a 15% increase over the same period
in 1999. Advertising revenue was up, income from gaming shows stable but
subscription revenues were down.
Among the titles in the company portfolio are Casino Player and Strictly
Slots for the consumer, with National Gaming Summary and Casino Journal
for the trade. Shows include the Southern Gaming Summit and the American
Gaming, Lodging and Leisure Summit in partnership with Bear Stearns Inc.
12th
May Nevada Source:
Dow Jones/NGCB
The
Nevada
Gaming Control Board have released March results for the states casinos.
They show that gaming win rose almost 12% to $836.4 million. The Las Vegas
Strip saw results leap 17% to $414 million while downtown Las Vegas recorded
a modest 2% increase to $61.7 million.
For Reno and South Lake Tahoe gaming win was up 8% to $70.7 and $26.8 million
respectively. During April Nevada State also collected $64,633,870 in percentage
fee taxes.
Nevada
Casinos March Gaming Win Up 11.9% To $846.6M
12th
May Atlantic City Source:
Press release
Trump
Casinos & Hotels have reported first quarter results almost unchanged
from the same period in 1999. Net revenues for the period being $316.5
million and pre EBDITA of almost $54 million. For the Taj Mahal with 143
Tables and 4,521 slots win per day was $189 and $3,234 respectively. Table
hold was 16.7% and contributed 35% of the total gaming revenues.
At the Trump Indiana on Lake Michigan table hold was 17.1%. Total win was
$33 million with table revenue at 23% and slots 77%
11th
May Atlantic City Source:
Bergen Record/AP
Financier
Carl Icahn has made his plans known to the New Jersey Gaming Control Board
as to what he would do with the bankrupt Sands Hotel & Casino in Atlantic
City. Icahn who also wishes to operate the Claridge is fighting a battle
for control of the casino with Park Place who already have three casinos
in AC.
Vendors who are owed $6.7 million will also vote on who they prefer to
take over.
11th
May New Orleans Source:
Press release
JCC
Holding Company that operates the New Orleans casino has released statistics
showing the economic impact of the casino on the local area and Louisiana
as a whole. The study authored by Loren C. Scott & Associates, Inc.
shows that the casino is likely to have 6.67 million visitors in 2000 with
around a third coming from out of state.
Whilst in Louisiana visitor spending at other businesses, hotels and restaurants
etc. is likely to be $100 million. A similar amount is due to the New Orleans
parish in direct taxes from the casino each year. The casino employs in
the order of 3,000 people.
Harrah's
New Orleans Casino Operations Providing Strong Recurring Impact to State
Economy
11th
May Baton Rouge Source:
Various
Former
Louisiana governor Edwin Edwards was found quilty of racketeering charges
in relation to illegal payments made to secure riverboat licenses in the
state. The evidence against him was overwhelming including testimony from
Former San Francisco 49'ers owner Eddie DeBartello that he handed over
$400,000 in cash at SF airport to find out that his application was unanimously
passed the next day. Tape recordings, tax records and evidence from former
friends all helped to secure the guilty verdict. 72 year old Edwards served
four terms as Governor and will likely spend the rest of his life in prison.
After
dozens of probes, high-roller Edwin Edwards convicted
http://fullcoverage.yahoo.com/fc/US/Edwin_Edwards/
10th
May Las Vegas Source:
Press release
Mikohn
Gaming Corp. following on from the success of Monopoly® and more
recently Yahtzee®, has entered into an agreement to license Battleship®
from Hasbro. Battleship All Aboard® will be based on the famous naval
combat board game that first made its debut in 1967. During bonus rounds
players will have the ability to sink ships to gain additional payouts.
The game will be in 5 reel video format and allow play up to 90 nickels
per spin.
8th
May Mississippi Source:
Biloxi Sun Herald
The
Sun Herald had news on the purchase of the two Casino
Magic properties by racetrack operator Penn National Gaming from Pinnacle
Entertainment.
Also an interesting story on a court decision overturning a Mississippi
Gaming Commission ruling that a sequential Royal Flush hit at the Treasure
Bay Casino did qualify for an additional $249,000 jackpot bonus.
Two
casinos will be same in name only
8th
May Las Vegas Source:
Press release
The
Aladdin Hotel and Casino now under construction and expected to open in
August has placed casino chip orders with Paul-Son Gaming. Paul-Son also
announced that Aladdin was part of orders totalling $1.1 million from three
new openings the Hollywood Casino in Shreveport, Louisiana, Belterra, Indiana
and Suncoast, Las Vegas.
8th
May Detroit Source:
Detroit News
The
Detroit News on 3rd May detailed the principals of Millennium Management
Group who are proposing to buy the 40% of the property that is for sale.
The opening has been delayed by the Michigan Gaming Commission over problems
with licensing. Managing Director is William Paulos who was formerly senior
vice-president of Circus Circus Enterprises Inc. and more recently with
Crown Melbourne and Primadonna resorts. The other main shareholder is the
Sault Ste. Marie Chippewa Indian Tribe that owns 50%.
Millennium
staffed with casino veterans
Greektown
may stay shut for year 4th May Detroit News
5th
May Las Vegas Source:
Press release
Alliance
Gaming have revealed 2000 first quarter revenues decreasing by 7% to
$117.5 million compared with the first quarter of 1999. Total sales from
the Bally Gaming &
Systems subsidiary for the same period were 1,180 units compared with
4,450. 230 machines were sold into Nevada and Atlantic City, 400 Internationaly
and 550 to the riverboat market. Net loss for the Alliance group totaled
$9.1 million or $0.89 per share.
4th
May Las Vegas Source:
Reuters
The
collection of artwork that presently graces the Bellagio and other Mirage
Resorts properties will be almost certainly going with Steve Wynn when
he departs. A judge in Clark County, Nevada has ruled that he may buy them
at under market value from new owners MGM
Grand. The $4.4 billion deal for Mirage ($6.5 including debt) assuming
regulator approval, is expected to be completed sometime in the summer.
3rd
May New Jersey Source:
Press release
There
was a time in gaming when a teflon roulette ball was considered "high tech".
The march of technology onto the gaming floor now means that staff don't
just have to be aware of the players bets but also not to trip over the
cables. Michael Pollock's Gaming
Industry Observer and AQS2* Advanced Quantitative Strategic Solutions,
LLC are teaming up to offer a one day seminar in June dedicated to the
rapid changes and challenges that are affecting casino gaming operations
world-wide.
1st
May New York State Source:
Press release
The
proposed casino in the Catskill mountains is set to change its location
with the impending purchase by Park Place Entertainment of the 1,400
acre Kutsher's Resort Hotel. Park Place will manage the casino on behalf
of the St Regis Mohawk Indians for seven years. Construction work is expected
to create 2,000 jobs and include a casino with a 160,000 gaming floor and
a championship golf course.
Park Place is the worlds largest gaming company formed from a spin off
of Hiltons casino interests and has a total of 28 casinos and 2 million
square feet of gaming floor.
1st
May Bahamas Source:
Press release
Sun
International that perhaps may go private shortly, has released quarterly
results for the companies Atlantis Resort on Paradise Island and its north
American operations. Atlantis had total revenues of $139 million with the
casino contributing 46%. The hotel had an 85% occupancy during the quarter
with average room rates of $286 per night.
The Management contract for the Mohegan Sun is now over but 5% of gross
revenues from the property will be due to the company for a period of 15
years.
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