Fate of Casino Hangs in Balance in Iowa
Posted on September 23, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
The final decision as to whether a casino will open at Iowa’s northwestern part or not will be decided today by voting. The proposed casino is supposed to open near Larchwood, which will have a winner and a looser at the same time.
The competition is between Citizens for Economic Growth in Lyon County and Lyon County Citizens for Casino Truth, whereby the later is against the opening of a casino there. The proposed casino is a $90 million resort and casino.
Both Economic Growth in Lyon County and Lyon County Citizens for Casino Truth have taken up efforts to make a door to door campaigning so that the people come forward to vote in their favor.
The public relations director at Riverside Casino and Golf Resort, Sharon Haselhoff said that gambling has already been legalized in Iowa. The vote will take place regarding the construction of the casino. The opponents are concerned about the economic effects of casino on the community.
On the other hand, the supporters have said that the opening of this casino will create job opportunities. They have also said that the casino will have a resort that will provide funds for the development of the community. There will be a hotel and an event center which will help in generating money.
About $1.5 million of funds has been estimated to be distributed in the community. If the gambling referendum of Lyon County passes, the license will be collectively owned by the local Lyon County Riverboat Foundation Board and the Kehl Management.
The proposed casino will have an 18-hole golf course, 100 room hotel, 24 gaming tables, as well as 800 slot machines. Gene Ver Steeg, who is the chair of Lyon County Citizens for Casino Truth, said that he is mainly concerned about the big price that the families have to pay who becomes a victim of people addicted to gambling.
Haselhoff has however said that only a few percent of the people have an addiction to gambling but a major portion loves playing it and is not addicted. They aim to build this casino for the latter section of the population. People of Iowa are just eagerly waiting for the decision now.
Share ThisOhio May Legalize Casino Gambling in November
Posted on September 22, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
It has been ultimately realized by the Unites States that casino gambling can play a significant role in the economy of the nation. Casino gambling has been already made legitimate in several states of the country. The next state where it is to be made legal is Ohio.
The news on legalization of gambling in Ohio has already created a great deal of excitement among the Ohio casino gambling lovers. It will be decided on November 4 as to whether the casino will be allowed near Wilmington or not.
This decision will be based on voting that will take place on that day in the state. Everything related to gambling is supposed to be present in the proposed casino, which are already there in Nevada. The only gambling that won’t be a part of this casino is sports gambling.
This casino will be fully responsible to the state of Ohio. It has been decided that nearly 30 percent of the gross revenue from the casino will go into the government treasury. About 10 percent of the revenue will be handed over to Clinton County.
The remaining 90 percent will be distributed among the eighty seven counties of the state of Ohio. This will help in generating money nationally and would therefore be helpful for the economy of the United States.
Although a large number of states are accepting the idea of casino gambling, still there are several who are not ready to go for full gaming. What they prefer is legitimizing poker and slot machines.
It has been said that the proposed casino in Ohio will also have all types of table games. Thus people will have access to a variety of different table games under one roof. This is in fact great news for the fans of casino table games.
What is driving the lawmakers to make gambling a legal game is the ongoing economic condition. In a bid to save the state from the ongoing financial crunch, the lawmakers have taken up such efforts. It used to be a forbidden subject once upon a time.
It has been found that there are several states that are making use of the casino gambling to bring equilibrium in the budget of the state.
Share ThisCordish Cos. Planning To Contend For Slots License
Posted on September 19, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
Cordish Cos. based in Baltimore has every chance to contend for a slot licensing in Maryland. This company has carried out several casino projects in Florida earlier. Their success depends on the voter’s approval of a referendum in November that will legalize the gambling machines.
This plan of the Cordish Cos. is expected to make a few of the slot parlors a center of major entertainment complexes. It also escalates the level of competition among the five other licenses in Maryland.
The voters have to decide in the month of November of whether to make an amendment of the Maryland Constitution to have 15,000 slot machines across the state’s five locations.
Other than the Magna Entertainment Corp, which happens to be a racetrack owner, Cordish Cos. is the first developer of gambling who showed their interest in the biggest slots license that is meant for Anne Arundel County.
The legislation that has been passed by the General Assembly in 2007 says that the slots facility that can accommodate about 4,750 gambling machines can be also constructed closely to the Arundel Mills mall.
Cordish might have to contend with Penn National Gaming Inc. in the Cecil County for the slots license. This news has already created a great buzz among the casino lovers. Even if Cordish makes a bid on a number of licenses at a time, it would be entitled to only one.
The slot licenses are going to be accorded by a commission comprising of seven members. These members will be chosen by the governor together with the leaders of the House of Delegates and state Senate.
An amount of about $25 million will have to be invested by the applicants for licenses for meeting the cost for every 500 batch of slot machines they think to run. It is being hoped by the democratic leaders of Annapolis that tax revenue on slots is going to block the increasing hollow in the state budget.
However, Fath says that if the present trouble in credit goes on, then it will bring down the ebullience among the gambling operators. These companies will then be needed to invest hugely to get the licenses for slots.
Share ThisPinnacle Entertainment Withdraws Its Casino Plan from Wyandotte County
Posted on September 18, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
Pinnacle Entertainment has withdrawn its plan of opening a state-owned casino in the Wyandotte County, Kansas. It was quite a big shock to the people from the casino industry. They have retreated back owing to the current tumult in the finance market.
Pinnacle Entertainment has said that the company is thinking of using its resources on the ongoing projects and developmental works in Missouri and Louisiana. This Las Vegas based firm sent a mail to its lawyer at Kansas City disclosing about its plan to draw back from the project.
Pinnacle Entertainment was one of the four competitors who were supposed to open a casino in the Wyandotte County. The other three were the Connecticut-based Mohegan tribe and its Kansas City-based partner Red Development, Las Vegas-based Golden Gaming, and 50-50 partnership of Kansas Speedway and the Cordish Co.
About a total of nine casinos are owned by Pinnacle Entertainment throughout the world. One of them is still under construction, which is known as the Lumiere Place, located in St. Louis and River City. Pinnacle offered for a $623.6 million casino resort and also a 500-room hotel in the Wyandotte County.It was said by Pinnacle that casino will be connected by boardwalks and waterways with the Schlitterbahn Vacation Village water theme park and resort. The officials of the Texas-based Schlitterbahn told that they were not aware of the news till the time Pinnacle informed them about their decision.
The Kansas Lottery Gaming Facilities Review Board was about to declare the name of the winner in Topeka soon but this sudden retreat has left everyone from the gambling industry very surprised. The winner would have got a 15 year casino management contract in this Kansas County.
Ed Van Petten, director of Kansas Lottery said that they have not been able to speak to Pinnacle about this sudden change in their decision. The mail sent by Pinnacle has got the signature of lawyer John D. Petersen. They retreated in order to get the $25 million privilege fee of state gambling refunded.
Spokesman Mike Taylor has said that there was no notice sent to the Unified Government of Wyandotte County in advance from Pinnacle about their withdrawal decision. District spokesman David A. Smith is quite disappointed with their act.
Pinnacle is the fourth one to withdraw its casino project after MGM Mirage who withdrew from Wichita market bidding, Las Vegas Sands Corp. who withdrew from Wyandotte County and Penn National Gaming that retreated from Cherokee County of southeast Kansas.
Share ThisIndiana Live Casino Is To Open its Second Permanent Racino Soon
Posted on September 18, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
Indiana Live Casino, which is ideally situated along Interstate 74 of southeast of Indianapolis is near its completion of its second permanent racino. It is expected that this racino will be opening by early 2009.
Construction work is almost complete. Chris Blust, who is the project manager for this racino said that about 80 percent of the work is over. The exterior is almost finished, only a few things are left to be done in the interior portion. This racino will have about 2,000 electronic machines for playing casino.
The concrete floors will have a carpet covering. It will cover an area of about 233,000-square-foot. There will be facilities for car parking. There is great buzz in the gambling industry regarding this news. Though the inaugural day is left to be announced, but it has already created a great excitement among the casino lovers.
Indiana Live Casino has been able to earn gross revenue of $14.6 million in the month of August. Hoosier Park Racing and Casino that opened a casino in Anderson, has been able to draw approximately $17.1 million gross revenue during the same month.
The temporary casinos of both the companies have drawn a hefty crowd over the last three months. This massive success has prompted Indiana Live Casino to open a permanent racino at Indianapolis. There will be slot machines and dining arrangement on the first level. There will be also facilities for bars for the visitors to relax.
The second level will comprise of casino offices and VIP rooms. Vice president of Indiana Live Casino Tricia Lavore is very positive about this venture and expects that it is surely going to draw a bigger crowd. Lavore is expecting that this racino will have some impact on the business of Hoosier Park Racing and Casino.
Lavore feels that they will have a very competitive edge over the Hoosier Park Racing and Casino with the completion of the racino. Jim Brown, general manager for gaming of Hoosier Park said that Hoosie will concentrate on integrated gaming besides its racing and dining features as it has always done.
Brown strongly believes that they are superb in their services and gaming products and has wished best of luck to Indiana Live Casino. With people’s access to over 2,000 gaming machines in both these sites, which will also have a few of the electronic table games of Indiana Live, it will surely bring in a massive crowd.
Share ThisCantor Casino Affiliate Program Knocking At the Corner
Posted on September 17, 2008 - Filed Under Casino Articles, Gambling News, Casino tournaments, Casino games
In the later half of this month, the Cantor Casino affiliate program is going to be represented at this year’s biggest iGaming conferences to be held at Spain and Barcelona. This casino allows promotion of any casino meant for the experts of gambling industry.
The affiliates are being invited by Cantor Casino to pause for a while at the booth of Income Access, who will be found at booth 456 at European i-Gaming Congress and Expo, and booth 37 at CAP Euro together with Cantor Casino.
Cantor Casino, a part of Cantor Fitzgerald Group of Companies, is a famous financial service provider in the global market. Income Access has partnership with more than 60 operators in gaming industry and more than 17,000 affiliates. They are known to help others in the field of iGaming affiliate marketing.
The European i-Gaming Congress and Expo is scheduled to take place from 23rd to 25th September at the Centre Convencions Internacional Barcelona and from 25th to 28th September at Hotel Princesa Sofia for the CAP Euro.
This will provide the casino lovers and investors a huge exposure as to how this affiliate program stands apart from other programs. The Cantor Casino is supported by global blue-chip financial services firm.
The affiliate program of Cantor Casino provides those elements to the casino lovers by which an affiliate can refer rich customers. This will help in providing an increased income for a long-term.
The Cantor Casino takes enough efforts in crafting their games in such a way that it attracts the adept lovers of casino games. One of their games, which are known as Statjack, is a blackjack game that prompts the players on the best choices, their outcomes, etc.
The players can make modifications on the bets of Xtra Odds Baccarat and take it to the next level after dealing of the initial two cards. Becoming an affiliate of the Cantor Casino will help one make a choice between £75 CPA commission structures or 25% share of revenue.
Apart from this facility, an affiliate can also enjoy marketing assistance as well as a personalized support from the team of Income Access’ experienced affiliate managers. Also, there will a £50 welcome match bonus and 15% cash back offer included in the player promotions of the affiliates.
All the experienced casino lovers will find it very interesting to play StatJack game as it has got a whole new range of exciting features as well as options for betting.
Share This15 Years Casino Management Contract Winner of Kansas City Is Yet To Be Declared
Posted on September 16, 2008 - Filed Under Casino Articles, Gambling News, Casino games
Wyandotte County casino lovers have always dreamt of a typical Las Vegas-style gambling resort and the good news is that their dream has got some recognition. The Kansas Lottery Gaming Facility Review Board met for a last round of questioning to select a firm from a list of prospective applicants.
Kansas City Mayor Joe Reardon has finally agreed upon opening a casino resort in the city. There were innumerable debates for about two decades regarding legalizing the casino gambling by the Kansas Legislature.
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The competitors for this dream contract in Kansas City were 50-50 partnership of leisure industry giants and a Connecticut Indian tribe. The former manages Power and Light District and Kansas Speedway and the later operates The Legends at Village West entertainment district.
This contract is a casino management contract of 15 years. The final decision as to the management of casino will be taken on coming Friday. This casino will be opened at the Dodge City of Ford County in the Wild West tourism town.
The Kansas Lottery Gaming Facility Review Board selected the Penn National Gaming and Harrah’s Entertainment Inc. in the month of August for the management of casinos near Wichita and western part of state line outside Joplin. However, the Penn National Gaming withdrew its plan last week.
According to a law of Kansas City, signed on April 11, 2007, gambling will be state owned. It has been also said that all the four gambling zones will be authorized to have one casino in each of them.
Apart from that, there will be 2,800 slot machines at the three pari-mutuel racetracks licensed by the state. However, according to the latest situation, there will be only three casinos in the city of Kansas. This city will not have a single racino anywhere.
Kansas City happens to be the 13th commercial casino state in the nation and also the first one to have ‘state-owned’ casinos. The decision regarding zero number of racinos in the city has created a greater buzz among the racetrack owners of the state.
The tight credit market has led big shots like Las Vegas Sands Corp. and MGM Mirage to move out during the selection process.
A good deal of hearings as well as scrutiny is required by the three state agencies and municipal authorities. Besides, they have to be all in complete agreement before the name of the contract winner is declared in the coming Friday.
Share ThisPrevailing State of Asian Casinos
Posted on September 15, 2008 - Filed Under Casino Articles, Gambling News, Casino games
Japanese people have a yearning for playing casinos. It has been found that the Pachislo and Pachinko machines yield above US $10 billion revenue per year. It has taken one step forward in legalizing their casinos.
The casinos in Singapore have set up a higher margin of profit for themselves in this prosperous tax regime. The scenario is however different in Macau where the casino operators have to make a payment of 35 per cent as taxes out of their gross revenue.
The tax rate for casinos in Singapore has been fixed at 23 per cent for the non-VIP players and 12 per cent for the VIPs. The profit margin for the Macau gaming operations has been estimated to be nearly 10 per cent.
On the other hand, the profit margin for Singapore gaming operations is somewhere near 40 per cent. This has been estimated during the 13th Annual Asian Casinos Executive Summit of 2008.
According to the president of the International Master of Gaming Law (US), Robert Stocker, the tax should be under 20 percent in case the casino operators are looking forward to give certain other facilities like retail, entertainment, and F&B.
As the government of China is being anticipated to restrict the development of casino in Macau, therefore several countries are trying to draw casino investors towards themselves.
It was way back in 1993 that the slot machines became legally accepted in Goa. Chairman and managing director of Advani Hotels and Resorts, Sunder Advani said that despite huge protests from anti gambling organizations, India has managed to open its only casino on the coast of Goa.
The state of Vietnam has a good casino scene for the locals with two casinos in the state. The entry of foreigners is however restricted to Vietnam casinos. David Subotic, chief executive of Asian Coast Development, Canada believes that the future is bright for casinos here.
The government of Cambodia, where 28 hotels already have casinos in them, is trying to set up for a greater facility. Foreign casino lovers only find an entry into the Cambodia casinos. However, the market there is not intemperately governed.
The reason behind it is that other than the Phnom Penh Naga Corp casino, there are also casinos on the border towns like Cam-Viet and Cam-Thai to manage the economy there.
Asian Coast Development, Canada has received a fund of about US$1.5 billion to set up a casino resort in Ho Tram Strip of Vietnam that will have 2,300 rooms. The casino lovers will have access to about 2,000 slot machines and 90 gaming tables.
Share ThisKansas Casino Plan Being Withdrawn by Penn
Posted on September 13, 2008 - Filed Under Casino Articles, Gambling News, Casino games
Penn National Gaming Inc. that planned to operate a casino in Cherokee County of Kansas City has given up its plans. It happened to be the only company that expressed a great interest in operating a state-owned casino.
The company said that the proposed plan failed to compete with the casino located closely to the state line in Oklahoma. This casino close to the state line in Oklahoma is run by Quapaw Tribe and has been inaugurated this summer.
Penn has put the blame on a Kansas law that has been enacted in 2007. According to this law, each of the four counties would have a single state-owned casino. The law enacted by the legislators and officials of Southeast Kansas has been also heavily blamed by several other casino owners.
A contract was approved last month by the review board of a state casino for Cherokee County casino between the Kansas Lottery and Penn at Wyomissing, Pa. The new gambling was supposed to be owned by the Kansas Lottery.
According to Vice President of Penn, Eric Schippers, the Quapaw Tribe was already enjoying the benefits of opening the casino first apart from lower tax rates. About $225 million would have been invested by Penn over 12 years.
Schippers also said that the legislature failed to see the prospect behind their plans and also the speed with which it was made. Penn was eagerly looking forward to make the thing happen although there was a very high competition in the gambling market.
Penn had put forward the argument that opening two casinos for the casino lovers is supposed to make the financial condition of the Cherokee County much stronger.
They set themselves on a venture of connecting their plan of opening a casino in Cherokee County to opening a casino in Sumner County near Wellington. However, Penn failed to win over the contract of opening a casino near Wellington.
A group that was led by Harrah’s Entertainment Inc. was chosen by the casino review board to open a casino in the Sumner County.
The decision taken up by Penn to withdraw from Cherokee County has led to a heavy frustration for Rep. Doug Gatewood, who is a Democrat from Columbus. He still strongly believes that some other casino company is going to come up.
However, Gatewood knows that Penn’s decision receiving support from Cherokee County Commission has de-motivated several other casino companies from coming up with their plans.
Share ThisCanadian Casino Company Is Thinking of Funding Asian Casino
Posted on September 12, 2008 - Filed Under Casino Articles, Gambling News, Casino games
Asian Coast Development Ltd., a casino company from Canada is looking forward to offer $1 billion public offering in Hong Kong within the coming two years for funding its plan of building a giant gambling resort in Vietnam.
Asian Coast Development Ltd is based in Vancouver. It is planning to build this gambling resort on the Ho Tram Strip, which is nearly 80 kilometers away from the Ho Chi Minh City. It is expected that the project will be completed by 2010.
According to PricewaterhouseCoopers, Asia-Pacific happens to be the quickest developing region for gambling in the world. The revenues from casino-based gambling are being hoped to nearly double-up from $16.5 billion in 2007 to $34.4 billion US.
Macau, which is a neighbor of Hong Kong, has already been able to beat the city of Las Vegas as the largest gambling center of the world. It has been recently seen that investors in Hong Kong are betting against the casino sector.
Billy Ng, who is an analyst at Hong Kong JPMorgan, said that craving for a casino IPO in the near future is not going to be strong. He thinks it to be an impossible thing and also something uncertain.
There are some serious headaches with several Hong Kong-listed casino companies of Macau. This is mainly due to the fast development that is taking place in the world of casinos that would end up in irrational competition.
Another major concern is that Beijing has put restrictions on entry to the mainlanders. It has also decelerated the tempo of approving new projects in the island. There has been a fall in stock to below two thirds of SJM, which has got plans to expend $2.6 billion US in building four Macau casinos.
Michael Aymong, chairman of Asian Coast Development, has said during his interview with Bloomberg that people in Hong Kong has knowledge about the casino industry because of Macau. Therefore, they are eagerly looking forward to the stock exchange of Hong Kong for the coming two years.
The Macau gambling industry has been able to attract a huge investment from the casino operators of the city of Las Vegas. However, whether it is Vietnam, Las Vegas, or Macau, the investors are undergoing a fear that an economic downturn globally will decrease the number of visitors to the casinos.
The casino investors just have to wait and watch for the time being.
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