Archive for the 'Casino' Category

Columbia riverboat approved by army

Tuesday, April 3rd, 2007

A proposed riverboat casino in Baton Rouge, Los Angeles, has moved a step closer to fruition with the news that the US Army Corps of Engineers does not object to the plan.

 

Columbia Entertainment’s proposals include a 30,000 square foot gaming area as well as restaurants and bars, bringing the total area to 50,000 square feet.

 

Work on the $60 million facility’s new 380 car garage will get underway in June of this year, with officials hoping that the construction proper can begin by October.

 

“The company has worked closely with regulators and public officials to get this project off the ground,” said William Yung III, Columbia Entertainment’s chief executive.

 

“We will be able to make this investment in Baton Rouge because we enjoy the support and co-operation of the various government agencies, the Mayor of Baton Rouge, and other city officials, who see this project as an important economic stimulus for the community,” he added.

Columbia’s other projects include the renovation of the Tropicana Casino, which turns 50 this month.

Casino smoking ban gets Denver go-ahead

Tuesday, March 27th, 2007

The state senate in Denver has approved a bill that would ban smoking from the state’s casinos, it has been revealed.

However, while lawmakers passed the bill, they did so with the proviso that all Denver casinos would have a year to prepare for and implement the changes, according to the Associated Press.

But the American news agency also reveals that governor Bill Ritter’s plans to use casino revenue to fund environmentally friendly initiatives could be jeopardised by the regulations, which could result in a drop in casino takings.

The news comes as anti-smoking measures in public places come into force across American casinos and beyond.

From April casinos in Atlantic City will ban smoking on 75 per cent of its casino floors, in line with a trend that has seen smoking banned in workplaces or public areas in 21 separate states, USA Today reports.

Foxwoods dismisses Sands casino claims

Tuesday, March 20th, 2007

A potential rivalry between two casinos on opposite sides of the globe, both claiming to be the world’s biggest, has been defused by Foxwoods officials.

 

The Connecticut casino proclaims itself to be the world’s largest, a title also taken by the Sands casino in Macau, China, but officials have moved to rule out any possible dispute.

 

A spokesman for the casino preferred to concentrate on the US casino’s attractions rather than compare it to its East Asian rival.

 

“We concentrate on quality, not quantity. We focus on what we do, and at what we do we are the best,” the spokesman said to the Norwich Bulletin. 

 

The paper reports that, in any case, the Sands Macau occupies 227,000 square feet and is such is smaller than both the 340,000 square feet of Foxwoods and fellow Connecticut casino Mohegan Sun, which occupies 300,000 square feet. 

 

But the Sands Macau does hold 740 tables, making it the world’s biggest casino by that criterion. 

‘50,000′ croupiers required for Macau by 2009

Wednesday, March 14th, 2007

Macau’s race to become the world’s biggest gambling venue means it will require over 50,000 casinos within the next two years, it has been reported.

 

And in a sign of the advantages that the region’s booming casino industry has provided to the surrounding community, many residents are keen to apply for such opportunities.

 

Croupier jobs do not require significant educational or vocational skills yet offer considerable benefits, making it attractive to local residents, the Macau Post Daily has reported.

 

According to Chinese news agency Xinhua, there are currently 20,000 croupiers in the region’s 25 casinos, representing seven per cent of Macau’s total labour force.

 

The addition of a further 30,000 croupiers would see the profession represent as much as 17 per cent of the labour force, making Macau one of the world’s most casino-reliant regions.

 

This week Macau won an award for the most promising destination in Asia, highlighting its potential for future growth.

Texan gambling legalisation plans revealed

Thursday, March 8th, 2007

Senators in Texas are attempting to legalise casino gambling as a way of funding further education in the state, it has been revealed.

 

The bipartisan proposal will be put forward by Republican John Carona of Dallas and Democrat Rodney Ellis of Houston, the Associated Press has reported.

 

More details are expected to be revealed shortly, but it is understood that the plan will revolve around a number of high profile resorts across Texas as well as slot machines at racetracks.

 

A survey of a handful of Texans found some to be in favour of the proposed scheme.

 

“I think it would be great. I just turned 21, so it would be a lot of fun. I wouldn’t have to drive to Louisiana to gamble,” said Megan O’Sullivan, speaking to CBS 42 reporters. 

 

The popularity of gambling within Texas was emphasised by this week’s Mega Millions lottery, which saw as many as 26,000 tickets a minute being sold in the state.

Aladdin to be replaced by Planet Hollywood

Tuesday, February 20th, 2007

The Aladdin casino in Las Vegas, Nevada, currently undergoing an extensive refurbishment and remodelling process, will operate under a new name when it re-opens later in the year, it has been revealed.

Co-chairman of casino owner OpBiz Robert Earl has said that the casino could be called the Planet Hollywood Resort and Casino as part of its new look.

Mr Earl added that costs on the project had gone significantly over budget, but was confident that the new building would be a success, with visitors to the site able to monitor progress.

“All of those people are at various stages of permitting and getting done,” he commented, referring to a host of potential tenants, shops and services.

“The plan is that every month that you come here, each time you revisit you’ll see more of the project open, culminating in it all being finished by October.” 

“By the middle of this year, you’ll never know the Aladdin existed,” he added.

 

The Aladdin was originally named the Tally-Ho when it opened in 1963, and changed to the King’s Crown a year later before settling on its current moniker in 1966.

Harrah’s private equity move gathers pace

Monday, February 19th, 2007

The ongoing buy-out of casino giant Harrah’s by two private equity firms is set to move a step closer to completion following the expected filing of approval applications.

A series of potential regulatory concerns are thought to have been addressed in the documents, though lawyers working on the case expect many months to pass before they appear in front of the relevant Nevada gaming organizations.

The complicated nature of the buy-out is in part down to the fact that officials from eight separate states as well as those in Canada, England and South Africa will need to approve the deal.

“We’ve already, at great effort and expense, organized all the back-up documentation. In trying to expedite this process we’re already prepared for an investigation right after we file the applications,” said transaction attorney Frank Schreck, explaining part of the process.

Harrah’s is one of a number of casinos thought to be considering a move to help build the new super-casino set for Manchester, England.

Profits up at MGM Mirage

Friday, February 16th, 2007

Net income at MGM Mirage more than doubled in 2006 thanks in no small part to the company’s ten Las Vegas strip casinos, the firm has announced.
Net income for 2006 totalled $201.6 million, compared to $97.8 million in 2005, MGM said.

Meanwhile quarterly revenue was similarly healthy, increasing by 11 per cent from $1.66 billion to $1.85 billion.

“MGM Mirage shares have traded up dramatically the past few months, we believe primarily due to expectations of corporate finance activities. [The] results showed more fundamental strength and illustrate MGM Mirage’s operating prowess,” said Steven Kent, gaming analyst at Goldman Sachs.

Company officials predicted similar success in the forthcoming year.

“As demonstrated by the significant increases in cash flow at The Mirage and MGM Grand, our efforts at Mandalay Bay, Luxor and several other properties should lead to increased customer volumes and better pricing at these resorts,” said president and chief financial officer Jim Murren.

MGM is again considering a plan to build a casino in Atlantic City, according to reports this week. The gaming giant has been constantly rumoured to be moving into the area for the past ten years.

Work commences on LV Sands LA resort

Monday, February 12th, 2007

Construction has begun on the $3.6 billion Las Vegas Sands Casino in Singapore as developers begin two years of work that will culminate in the resort’s opening in 2009.

The lucrative casino contract was awarded by the Singapore government to Las Vegas Sands last May, with the casino now revealing that it has secured deals with 56 tour operators to bring tourists to Singapore from 2009.

However, construction costs could rise by over a third due to recent increases in the price of sand.

“We are going to pay a little more for our sand because of transportation. There are alternative availabilities of sand that could cost us as much as 30 percent more. I don’t think the cost of sand itself is different, it’s just you have to bring it from further away,” said LV Sands president Bill Weidner.

Company officials also commented on the logistical side of contracting out the resort’s 1.2 million square feet of meeting facilities, with over 250 tenants already interested.

“Our biggest problem is who to allocate space to. Singapore is about to undergo a transformation,” said Sheldon Adelson, chief executive officer at LV Sands.

The company is also currently constructing a similarly lavish casino resort in the Cotai area of Macau.

Solihull venue seeks partner

Friday, February 9th, 2007

The National Exhibition Centre (NEC) in Solihull, England, awarded rights to build a new casino last week as part of a string of new licences handed out by the government is now seeking a business partner.

But there is now speculation that the venue for the new casino could be changed.

Officials said that the selection of the NEC was by no means final, as the licence was awarded to Solihull Council rather than the NEC itself.

“We will consider interest from across the borough from those who wish to be considered as the location for the casino. Any site would be subject to planning, licensing etc before being given the go-ahead,” icSolihull reports a council spokeswoman as commenting.

Meanwhile, NEC officials maintained that their venue was the ideal location for attracting new business and tourism to the region.

The move is reminiscent of the news earlier in the week that Manchester Council was considering a different venue for its super-casino, an announcement that has caused controversy among officials from unsuccessful super-casino candidate towns.

The Manchester site originally selected was chosen largely because of the possibility of regenerating the impoverished area, the Casino Advisory Panel said last week.