Industry News Archive Page 8

The Seminole Indians of Florida, fresh off their historic purchase of Hard Rock International, are camping up their efforts to operate true Las-Vegas style slot machines at the casinos they own throughout the state.

Legislators in Indiana are moving forward with new proposals to expand horse racing and slot machines throughout the Midwestern state.

The State Legislature in Maine is poised to decide whether slot machines should be allowed in places other than the Hollywood Slots parlor that opened in Bangor, the state capitol, in 2005, experts are telling Onlinecasinocrawler.com.

Gambling foes fear legalization will harm the state's image and drain money from low-income residents, not out-of-state vacationers.

Atlantic City reaped its biggest rewards ever at the gaming tables and slot machines during 2006, but a potential no smoking law on the casino floor could put a damper on 2007 revenues.

The bank is planning to charge customers the cash advance rate of interest -- up to 27.8 percent -- rather than the normal purchase rate (up to 22.9 percent).

Now, a new agreement between Ontario Lottery and Gaming Corporation (OLG) – which is the agency responsible for province-wide lottery and gaming operations -- and Caesars World, Inc. --a wholly owned subsidiary of Harrah’s Operating Company

The Washington State Gambling Commission and the Spokane Tribe of American Indians last week reached an agreement that will regulate gaming on the tribe's reservations, but on a limited basis.

According to executives at Titanium Group, the company will now provide its patented facial recognition products, systems, and IT solutions in gaming to the largest gaming concession holders in Macau.

Toronto-based gaming software developer CryptoLogic Inc. this week disclosed that its wholly-owned subsidiary WagerLogic Limited has executed a final contract with William Hill, one of the best-known names in European gambling...

Florida opened its first casino to feature Las Vegas style slot machines this week and it’s potentially poised to change gaming rules within the state.

The rumor mill is getting more grist regarding a potential partnership between Steve Wynn and Donald Trump to build a $3 billion casino resort in Atlantic City.

A new study indicates that online gaming sites are continuing to grow -- and the attempt to ban Internet gambling by the U.S. Congress may be a major motivator that is powering the trend.

The fear of to the U.S. has prompted some, publicly traded firms to sell their U.S. operations, and their Caribbean counterparts now are grabbing them up.

The gaming industry has grown dramatically in Russia since the collapse of communism more than a decade ago. With casinos and slot-machine halls in Moscow and St. Petersburg, the industry generates $6 billion in revenues a year.

After more than two years of planning and deliberations, the Pennsylvania Gaming Control Board has given the green light to 11 companies seeking to obtain a permanent casino gaming license in the state.

Harrah’s Entertainment (NYSE: HET) is going private. In an astounding $27.8 billion deal (including debt), the world’s largest gaming company has agreed to a takeover by Texas Pacific Group (TPG) and Apollo Management, L.P.

At a news briefing, reporters were told that the casino will officially change its name to Ceasars Windsor, as it aims to increase the odds of attracting customers from across the lake in Detroit.

International gaming company Melco PBL Entertainment (Macau) limited minted money with its initial public offering (IPO) on America’s NASDAQ stock exchange this week.

An online gambling review board of online casinos, poker rooms, and sportsbooks, based in Wachtung, N.J., this week launched an online gambling "Link Exchange" program,

The Macau market is unyielding in its incredible expansion and the most recent figures available show that the market’s gross gaming revenue grew by 43.9% in October alone, according to the Macau Gaming Bureau.

A study conducted by the University of Wisconsin indicates that video gaming is not just pursued by "introverted adolescents," isolated in darkened rooms, causing their parents concern for their social development.

Prices of the stock of Melco International Development, which trades in Hong Kong, have doubled this year and another Hong Kong stock, Galaxy Entertainment Group, has gone up by 80 percent.

Four new online gambling sites have received regulatory approval from the London-based regulatory agency, eCommerce and Online Gambling Regulation and Assurance, bringing to 111 the total number of firms that have received the "Play It Safe" seal from eCOGRA.

That’s right; the consortium led by Malaysian based Genting International has been awarded the right to build its integrated resort on Singapore’s Sentosa Island by the country’s government.

The Seminole Tribe of Florida is not just getting another piece of the Rock; it’s getting the entire thing. In a major announcement made this morning,

The U.S. banking system is not designed to track every transaction -- the source of all wire transfers, or the companies whose bills are paid by consumer credit cards -

The world's leading casino company, Las Vegas Sands Corp., said this week it is working with Cantor Gaming to launch an Internet casino, initially targeted at the U.K. market, where legalized cyber-gaming has been enthusiastically embraced by consumers.

“The riverboat casino project was designed to jump-start distressed river city downtowns,” said Susan Vos, executive director of the Aurora Convention and Visitors Bureau.

While it is one of the smaller U.S. based casino operators and still not profitable, the company has been working on a long term strategic plan to increase their share of the gaming market, while upping their revenue and slicing their financial losses.

Called Melco International Development Ltd, the company is a partnership between Lawrence Ho and James Packer's Publishing & Broadcasting Ltd. Its division Melco PBL Entertainment (Macau) Ltd. will sell 53 million American depositary shares on the NASDAQ stock exchange and hopes to get between $16 and $18 per share.

Gambling revenues are growing so quickly in Iowa that business leaders there think the funds could be used to pay for an array of "major attractions," including entertainment venues, all over the state.

A new study, released this week by a free market think tank in Chicago, said that the Unlawful Internet Gambling Enforcement Act (UIGEA), signed by President Bush last month, is harmful to consumers in the U.S.

Though Penn National has only the fraction of value of Harrah’s at a little more than $3 billion compared to Harrah’s more than $14 billion, the inside scoop is Penn is ready to make a play and enter the casino gaming big leagues.

The proposed Station Square casino in downtown Pittsburgh is being backed by gaming giant Harrah's Entertainment and former Pittsburgh Steelers football star Franco Harris, among other, wealthy luminaries.