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GTECH posts $254.4M income for Indiana lottery

Industry
Mass jobless filing for laid-off casino workers August 29, 2014 by Staff & Wire Reports

One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center.

Nevada gambling revenue inches upward in July August 28, 2014 by Staff & Wire Reports

State officials say Nevada gambling revenue was up less than 1 percent in July compared with the same month last year. The state’s casinos brought in $932 million last month.

Potential buyer looks at Showboat Casino August 28, 2014 by Staff & Wire Reports

Caesars Entertainment is showing the soon-to-close Showboat Casino Hotel to “an interested party,” but won’t say who it is. The casino is due to close on Sunday, one of three Atlantic City casinos shutting down over the next few weeks.

Baltimore celebrates opening of Horseshoe Casino August 27, 2014 by Staff & Wire Reports

Baltimore celebrated the opening of the city’s first casino as crowds lined the block, eager to try their luck. Horseshoe Baltimore is the last of five casinos to open in Maryland after lawmakers legalized gambling in the state.

California's Iipay Nation of Santa Ysabel launches poker site August 26, 2014 by Phil Hevener

Gaming Insider | California’s Iipay Nation of Santa Ysabel Indians are ready to take their chances with a hail-Mary-we’ve-got-nothing-to-lose tussle with circumstances.

LVSC, Roxy & me created numbers at the Stardust sports book August 26, 2014 by Scott Schettler

Gaming Yesterday | From the moment I took over the Stardust in December 1983 my path was set. My insatiable love of sports, a well-honed, pent-up knowledge of betting/booking, combined with self-confidence and the work ethic of a mule.

Boston Herald supporting Mohegan Sun casino August 25, 2014 by Ray Poirier

A strong anti-Las Vegas bias appears evident in the decision by the influential Boston Herald newspaper to support a casino license proposal by the Mohegan Sun for the City of Revere over the Wynn Resorts Ltd. (WYNN) plans for the City of Everett.

Both sides donning voters' battle gear in Mass. August 25, 2014 by Ray Poirier

The politicking season has entered high-gear, both sides of the casino issue in Massachusetts are touting efforts they are planning to influence the voters, who will decide the fate of the gambling expansion law,

Casino pressure too much for Gov. Walker to ignore August 25, 2014 by Ray Poirier

Wisconsin Gov. Scott Walker thought he could push aside a controversial decision regarding a proposed tribal casino but developing bipartisan pressure may be too much to ignore.

Rod Blagojevich bribery trial restored in Illinois August 25, 2014 by Ray Poirier

The name of disgraced former Illinois Gov. Rod Blagojevich popped up in the news again last week when it was announced the appeals court has revived a lawsuit alleging some Illinois racetrack operators had made bribery payments to him.

Foxwoods faces financial troubles in 'sluggish economy' August 25, 2014 by Ray Poirier

With declining revenues at its Foxwoods Resort Casino in Connecticut, the Mashantucket Pequot Tribal Nation, which operates the casino that is a neighbor to Mohegan Sun, has been selling off land near its reservation to generate funds

MGM joins Tracinda Corp. in paying $225k fine August 25, 2014 by Ray Poirier

MGM Resorts International (MGM) took a step closer to resolving its differences with gaming regulators in New Jersey last week when it joined its largest shareholder, founder Kirk Kerkorian’s Tracinda Corp., in paying a $225,000 fine.

Arizona Lottery reaches $724M in sales August 25, 2014 by Ray Poirier

Adding new games was credited with boosting the Arizona Lottery to record levels during the past fiscal year. Lottery officials reported $724 million in sales, the highest amount in the Arizona Lottery’s 33-year history.

GTECH posts $254.4M income for Indiana lottery August 25, 2014 by Ray Poirier

It’s been one year since Indiana turned over its lottery operations to a private company and the results were pleasing. Although GTECH Corp. failed to reach the net income goal it had promised, the net income for the state was $254.4 million.

Virginia Lottery sets record by reaching $538.6M August 25, 2014 by Ray Poirier

The Virginia Lottery set a record in the past fiscal year, reaching $538.6 million, helped by a huge Mega Millions jackpot drawing last December. The previous record was $487.1 million set in fiscal 2012.

California OK's gambling compact with Kanuk Tribe August 25, 2014 by Ray Poirier

The California legislature has ratified a gambling compact with the Kanuk Tribe, approving a casino in Yreka. This follows Gov. Jerry Brown’s approval of a casino that will have 1,500 slot machines.

Indiana governor remains opposed to more land-based casino August 25, 2014 by Ray Poirier

Indiana Gov. Mike Pence says he remains opposed to allowing more land-based casinos in Indiana despite a push from Evansville officials who are worried about declining revenues from the city’s riverboat casino.

Meadowlands establishing plans for casinos, hotels August 25, 2014 by Ray Poirier

People in northern New Jersey don’t want to compete with Atlantic City but they do want to take advantage of their location. As such, Meadowlands is establishing plans for casinos, hotels, a convention center and a monorail.

Borgata posts largest profit of $43.2M August 25, 2014 by Ray Poirier

Borgata posted the largest profit at $43.2 million, compared with $18.2 million in the second quarter of 2013. Its increase was more than 53 percent but officials reported $11.8 million of the tax settlement was applied to the second quarter earnings.

Imperial Pacific warns of significant increase in net loss August 25, 2014 by Ray Poirier

Imperial Pacific International Holdings Ltd., which last week announced plans for a major casino development in Saipan, has issued a warning to investors that it expects to record a significant increase in net loss for the six months ended June 30.

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Casino Industry

No immediate end to the tough times in Atlantic CityCASINOS STRUGGLE

No end to tough times in Atlantic City

Las Vegas has a reputation for playing its cards well. Atlantic City never paid close attention to the hand it was dealt. Momentum – the positive kind – resembles a forever fickle beast...

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