March 6, 2009 090306
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Compiled by Al
to push to repeal U.S. online gambling ban
WASHINGTON - A senior Democratic lawmaker said on Thursday he would
push to pass legislation to repeal a three-year-old U.S. ban on
Internet gambling that has hurt trade ties with European Union.
announces plan to reduce debt burden ...
Analysts expected Harrah's to initiate such offers this year to further
trim debt. With banks reluctant to lend money in the downturn, Harrah's
has few options but to negotiate with lenders and hope they are willing
to gamble on the prospect of a distant rebound rather than foreclosing
on casinos in a hasty grab for cash.
predicts Harrah's will land in bankruptcy court this year
"We think this latest restructuring is an attempt to rearrange the deck
chairs on the Titanic," Barbara Cappaert, a bond analyst with KDP
Investment Advisors, said. "The company will very likely throw in the
towel and reduce debt via a debt/equity restructuring (or bankruptcy)
later this year to streamline its balance sheet."
Mirage might face bankruptcy filing ...
MGM Mirage (MGM), the Strip's biggest casino operator and the state's
largest private employer, could be facing a bankruptcy filing if it
can't renegotiate better repayment terms with its lenders covering some
$7 billion in loans.
... MGM in hunt
for financing after talks collapse -- Company pursuing new options
After discussions with Deutsche Bank collapsed late Wednesday, the
cash-strapped casino operator will have to look elsewhere for the final
$1.2 billion in financing needed to complete its $9.1 billion
opening of Las Vegas' newest resort, the M ...
For an evening, at least, the opening of the 390-room M Resort helped
people forget the sour Southern Nevada economy, where gaming revenues
and visitation sank to record declines in 2008.
M Resort hiring another 250
The newly opened M Resort Spa Casino said today it's hiring another 250
employees in order to better service customers, some of whom have
endured long lines at its restaurants and rewards club signup stations.
Four recent casino additions have much in common
In roughly the last six months, four resorts have opened their doors in
Control Board approves purchase of Treasure Island
LAS VEGAS - Phil Ruffin’s return to the casino business cleared its
hurdle Wednesday morning. The Gaming Control Board took 20 minutes to
approve Ruffin’s $775 million purchase of Treasure Island from MGM
Mirage, sending the matter to the Nevada Gaming Commission for a final
ruling on March 19.
can foreclose on Resorts casino
ATLANTIC CITY - Resorts Atlantic City may face the same plight as
millions of homeowners who have fallen behind on their mortgage
payments during the recession - foreclosure.
Station rejects Boyd’s offer, extends debt deadline
LAS VEGAS - Station Casinos Inc. of Las Vegas said Wednesday it's not
interested in entertaining Boyd Gaming Corp.'s offer to buy part of
Station. And with bondholders apparently hoping for a better deal,
Station said today it extended the deadline for the note holders to
vote on a debt-exchange deal that would leave the current owners in
place after a proposed bankruptcy reorganization.
down impact of casino closures
MOSCOW - Moscow's budget will not be severely affected by the closures
of casinos and other gambling establishments, the Russian capital's
deputy mayor said on Wednesday.
Which Needs More Regulation
- Wall Street Or Casinos?
How come casinos are so much more intensely regulated than Wall Street?
Doesn't that strike anybody else as being kind of odd?
mogul slams corporate spending backlash
NEW YORK - Las Vegas casino legend Sheldon Adelson launched a quest for
America's most boring city on Tuesday in a comeback to President Barack
Obama's criticism of bankers who hold meetings in the famous gaming
casinos want to offer free drinks
Illinois riverboat casinos are asking the state
Legislature to approve a measure allowing them to offer free drinks.
Thanks to Green Chip member Joliet
Jimmer for submitting the above link.
Casinos tap marketing, promotions
While the U.S. casino industry has had to face record declines, many of
the more innovative operators have stepped up their marketing and
promotion efforts in order to shore up sinking revenues.
Like Most Professions, Gamblers Must Pay Their Dues
I know a number of people who've come to Las Vegas to make it as
professional gamblers (PGs), primarily as poker players. They're
generally in their early twenties to early thirties and they believe
that they have the skills to make it in this town gambling. Maybe
they've read some poker books or had some success in some private poker
games in their hometown and it seemed like an exciting life with
limitless wealth potential.
French gambling plan seeks to stem illegal betting
PARIS - France will open its gambling market to competition and
begin to grant online betting licenses in 2010 as it seeks to stem
illegal gambling and safeguard the billions of euros in tax revenue
provided by the industry each year, the country's budget minister said
trickling tax payments rile Kelso officials
KELSO, WA - The River Casino owes the city of Kelso $35,000 in gambling
taxes for the months of October, November and December and has agreed
to a $500 weekly repayment plan to catch up on back taxes.
little bit of help for unemployed casino workers
CONNECTICUT - The U.S. Department of Labor recently announced an
$880,286 grant to assist approximately 165 workers affected by layoffs
at Foxwoods Resort Casino.
stopped on west tower at Cosmopolitan
LAS VEGAS - Construction has stopped on the west tower at the
Cosmopolitan, according to various sources and one union official.
another entry for Black Book -- Slot cheat nominee is alleged
accomplice of last inductee
NEVADA - An alleged accomplice of the most recent inductee onto the
state's List of Excluded Persons was nominated Thursday to become the
37th entry to the document commonly referred to as the Black Book.
M Resort behaves appropriately in paying misprogrammed jackpot
Long-time Las Vegas-based advantage player, casino critic, and frequent
contributor LVBear offers his opinions on things that sometimes go
wrong in the world of casinos.
Current and past growls can be read and comments posted at LVBear's
On its first full day of operation, the M Resort in Henderson had a
single-line 25-cent video poker machine with a progressive starting at
$10,000 instead of the undoubtedly intended $1,000. A patron hit the
jackpot. Rather than hassle the winner or try to outright cheat him, as
many casinos have done in similar situations, after a thirty-minute
delay, the M Resort paid the patron the $10,009, closed the bank of
machines and politely asked the other players to cash out and play
other machines. No harassment of the other patrons, no threats, no
security guards, etc. In view of all the casino misbehavior we
routinely see, it as refreshing to see a casino behave properly in this
It is too early to form an overall opinion of the M, but from this
incident, it appears to be on the right track. Many other casino
managers could learn from this incident.
Reward Probabilities for Poker, by George C
The author of Shuffle Tracking for
Beginners and The Unbalanced Zen 2 covers the relationship that
relationship that expectation and standard deviation have on your
bankroll. In George C's typical style, this booklet is all "meat
and potatoes" with no fluff. It is only 32 pages, but is packed
with useful charts and includes a helpful Excel program on a CD-Rom. Risk Reward Probabilities for Poker
is a comprehensive study with a number of informative statistics that
will help clear up some poker-related misconceptions.
The price is $19.95 (plus sales tax if sent to a Nevada address).
Green Chip members receive a ten percent discount. There is no
shipping charge for this item.
Order Risk Reward
Probabilities for Poker, by
Blackjack, Poker, Craps, other casino-related free
message board and Green
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