NATIONAL NEWS EXCERPTS
9/27/09 to 10/3/09
AC set to renew battle over casino smoking ban
NJ - Atlantic City was set to ban all smoking last October, but backed off when the recession hit, promising to reconsider in a year. But there's still no consensus on whether to stick with the current arrangement, which permits smoking on 25 percent of the casino floor, or to try again for a total ban. But the casinos continue to oppose a total ban. Already battered by the poor economy and fierce competition from Pennsylvania and New York slots parlors, the gambling halls fear even further revenue declines they say would happen when their smoking customers take their business elsewhere. So far this year, Atlantic City's casino revenue is down 15.1 percent, and there are about 400 fewer casino jobs than there were at the start of the year.
www.philly.com / The Associated Press / / Sep. 29, 2009
Bigger Resort Casinos Part Of 'Mischief' Period?
PA - This year, the push is on to transform Pennsylvania's miniature "resort" casinos into gambling halls that can more closely resemble, if not rival, some of the state's biggest casinos. The proposal is tucked into a broader bill to legalize and tax poker, blackjack and other table games at Pennsylvania's slot-machine casinos, a key element of the Legislature's search for new tax dollars to offset the state government's massive, recession-driven revenue shortfall. Earlier this year, state regulators awarded one resort casino license to the Valley Forge Convention Center in suburban Philadelphia, a hotel and exhibit complex owned by a group led by real estate investor Ira Lubert. Gambling there is on hold while the state Supreme Court considers a legal challenge to the license. But Nemacolin's owners decided not to seek a slots license, saying the patrons-only requirement would make the enterprise unprofitable, given the $5 million license fee and a tax rate of more than 50 percent.
cbs3.com / Associated Press / / Oct 3, 2009
Bipartisan Lawmaker Group Asks For Delay Of UIGEA Online Gambling Rules In US
- Lawmakers in the US are in the process of attempting to overturn the Unlawful Internet Gambling Enforcement Act, but before they have time to do so, the rules for the UIGEA will be going into effect. That is, unless a group of bipartisan lawmakers are successful in delaying those laws.
www.casinogamblingweb.com / / October 2, 2009
Casino push in Massachusetts stalls
MA - "House Speaker Robert DeLeo announced earlier this week that a bill to allow casinos or slot machines probably will not reach the governor's desk until next year.
www.casinocitytimes.com / 30 September 2009
Casino titans see net worth plummet
- The annual Forbes 400 list of the richest Americans for 2009 was released this week and casino luminaries, Adelson began 2008 as the third-richest person, but Forbes refigured its list later in the year and Adelson fell to 15th with a net worth of $15 billion. Kerkorian, the 92-year-old Los Angeles billionaire who owns about 43 percent of MGM Mirage, took the largest tumble of all gaming executives on the list, falling from 27th in 2008 with $11.2 billion, to 97th in 2009 with a net worth of $3 billion. Wynn fell from 118th with $3.4 billion to 141st with $2.3 billion. Trump, who owns the Trump International Las Vegas and 30 percent of the company that controls three Atlantic City casinos, was 158th on the list with $2 billion in net worth. Treasure Island owner Phil Ruffin, No. 193 with $1.85 billion, and Silverton owner Ed Roski Jr., No. 236 with $1.5 billion, rounded out the list of gaming executives.
www.casinocitytimes.com / Las Vegas Gaming Wire / / 2 October 2009
Casinos attract bad elements too
- Casinos tend to bring in a bad element, such as drugs, prostitution to name a few. Just look at Atlantic City and Las Vegas to prove my point. Another thing about drugs - at most casinos, drug addicts hang around to beg. Sometimes they go as far as trying to rob the patrons coming or going. The last thing I will say about casinos, they leave a path of destruction for families. Families have been ruined, and brought into poverty.
www.caycompass.com / Caymania Compass / 29th September, 2009
Casinos lobby legislature on table game licensing and tax limits
PA - SugarHouse, Foxwoods, and two other Pennsylvania casinos Thursday sent letters to every state legislator asking them to limit the cost of table games to a one-time $10 million licensing fee and a 12 percent tax rate.
www.planphilly.com / / Oct.3, 2009
Casinos spend millions to make losers feel like winners
- Addicts get gifts to return, but no help to stay away... Paul Isaacs played slot machines, roulette and baccarat. He played so much that, in an obsessive spree lasting less than two years, he lost more than $1.2-million. Casinos, in turn, rewarded Mr. Isaacs with Rolex and TAG Heuer wristwatches, theatre tickets and limousine rides. And when his home sustained smoke damage, he and his family stayed free at the Fallsview Casino Resort in Niagara Falls, Ont., for 21/2 months, meals included. It's a card casinos play often. Government-owned gaming emporiums are spending hundreds of millions of dollars to provide gamblers with "comps" - from hotel rooms to hockey tickets to cruises - feeding players' habits and leading some to financial ruin. Instead of trying to restrain problem gamblers, the casinos reward them - making big losers feel like big winners... Governments have made some efforts to curb compulsive behaviour. In Ontario, the government spent $39-million in fiscal 2009 on treatment, research and prevention of problem gambling, with the Ontario Lottery and Gaming Corporation adding a further $9.6-million on responsible-gambling initiatives (the highest figure in North America, it says). But the same year, it laid out $558-million on marketing and promotion of casinos, more than half in comps. In fact, 3.5 per cent of Ontario adults said in a 2006-2007 survey that they had a problem with gambling the previous year. "You are throwing gasoline on a fire when you further extend house credit and lines of credit to people who've presumably maxed out their credit cards and ATM withdrawals." How comps are determined is something of a secret. It is based on a theoretical loss formula - the longer people gamble, the more they are expected to lose as the house always has the edge. In the past five years, Mr. Rumanek has seen the number of gambling-related bankruptcies in Toronto double.
www.theglobeandmail.com / The Globe and Mail / / Oct. 03, 2009
Colleges Often Turn a Blind Eye to Student Gambling Problems
AL - In response, a national panel studying the issue released a report this weekurging top administrators and addiction specialists to establish gambling-related policies, launch informational campaigns to raise awareness of the potential for gambling addiction and to start incorporating the messages into already-widespread efforts to combat substance abuse. Some students see gambling as a way to get fast money." "They get addicted to the endorphin flow that they get when they play computer games, especially these interactive computer games, and it's very easy for those students to make the transition to an addiction to video poker machines or Internet poker," Mr. Lawrence said.
thechoice.blogs.nytimes.com / The New York Times / / October 2, 2009
Cook County panel recommends tweaking its ban on video gambling
IL - Trumpeting their opposition to using video gambling taxes to fund state government, Cook County Board commissioners on Thursday recommended a tweak to the county's ban on video betting in unincorporated areas. DuPage County and Rosemont are among more than 20 jurisdictions that have banned video gambling, Police also spoke against the machines, which have been linked to the Chicago Outfit. Industry officials spoke against banning them.
www.chicagotribune.com / Tribune / / October 2, 2009
Cook County panel votes to reinforce ban on video gambling in unincorporated areas
IL - After hearing opponents describe video betting machines as "the crack cocaine of gambling," a Cook County Board committee today took steps to ensure there are no loopholes in a ban on video gambling in unincorporated areas. County ordinances already forbade the devices, but the Finance Committee recommended adding language to measures that specifically prohibited them as described in the state's new video gambling law. Commissioner Forrest Claypool, D-Chicago, decried the influence of gambling on the economy. "We have an opportunity today to send a message, to send a strong message," he said.
newsblogs.chicagotribune.com / / October 01, 2009
Curbing College Gambling
- Several studies cited in the report suggest that between 3 and 11 percent of American college students have serious problems with gambling that could result in academic, financial or mental health problems. The report calls on colleges and universities to create campus-wide committees to formulate and oversee gambling policies, restricting on-campus gambling and making sure campus policies are in line with local, state and federal gambling laws.
www.insidehighered.com / INSIDE HIGHER ED / / September 30, 2009
Don't gamble with our families
MA - "Four of us were raised by my mother and supported by public assistance," she said. "She had such an addiction to gambling that most nights our dinner was one can of tomato soup mixed with three cans of water. To have a piece of bread was like having dessert. Shoes were replaced only when the nuns complained. "We had a bad enough time dealing with her going to bingo and playing the Irish and Spanish street numbers, so you can imagine the impact on our household when the Lottery was born. Now she could waste away more of what little we had with the greatest of ease, thanks to state."
news.bostonherald.com / Boston Herald / / September 28, 2009
Double down on student gambling, task force urges
- The nation's colleges and universities should attack gambling addiction as ferociously as binge drinking and other campus plagues that put students at risk, according to a task force on gambling policies. It's an issue with particular resonance in the college-rich Lehigh Valley, where a slots casino opened near Lehigh University this year and a freshman student once robbed a bank to pay off online gambling debts. ''A Call to Action,'' estimate up to 11 percent of college students in the United States have a serious gambling problem that can result in ''psychological difficulties, unmanageable debt and failing grades.'' But only 22 percent of campuses have gambling policies.
www.mcall.com / OF THE MORNING CALL / / September 30, 2009
Excerpts From Editorials In Florida Newspapers
FL - Gov. Crist wants a special session to get the Legislature to ratify a new gambling deal with the Seminole Tribe. The answer to that question may lie in a recent New York Times article suggesting that states may be reaching a "saturation point" in their attempts to collect gambling revenues in lieu of taxes. Recently, the Florida Lottery introduced vending machines in an attempt to keep milking a gambling cow that may already be running dry. Gambling is ultimately a sucker's bet...
cbs4.com / The Associated Press / Sep 29, 2009
Fontainebleau lenders want to force Chapter 7
FL - A group of lenders for the bankrupt Fontainebleau Las Vegas is asking a Miami bankruptcy judge to convert the case from a Chapter 11 reorganization to a Chapter 7 liquidation. "With completion of the project by the debtors not possible, a sale of the project to a third party and liquidation of the remaining assets is the only viable course to realize any meaningful value for credits," the motion states.
southflorida.bizjournals.com / South Florida Business Journal / September 29, 2009
Fourteen Casino Protesters Arrested In Pennsylvania
PA - Fourteen protesters were arrested outside of the construction site for the SugarHouse Casino. The protesters were blocking the entrance gates to the site, and police stepped in and made the arrests. SugarHouse has announced plans for a groundbreaking ceremony...
www.casinogamblingweb.com / / September 29, 2009
Frank Internet Gambling Bill Gets More Congressional Support
- There are now fifty-eight listed co-sponsors for the proposed gaming legislation. Joining the cause are Representatives Lynn Woolsey of California, William Clay of Missouri, Adam Schiff of California, and Christopher Murphy of Connecticut.
www.onlinecasinoadvisory.com / ONLINE CASINO ADVISORY / / September 28, 2009
GAMBLING GROUP WANTS TO AUTHORIZE E-BINGO IN MINNESOTA
MN - A statewide charitable gambling organization is pushing the potential of electronic bingo to raise cash for causes.
wcco.com / AP / September 30, 2009
Gambling Addiction Examined
- Wilson says there are several warning signs to watch out for... You might have a problem... *if you're losing time from work to play... *losing time from school... *you family finances are affected... *if you're gambling to pay off debts... *or if you're borrowing or stealing money to pay.. While it can all be fun and games... he says there is one sad reality. "Gamblers have the highest suicide rate among anyone who deals with any type of addiction,"
arkansasmatters.com / KARK 4 News / / Sep 29, 2009
Gov. Strickland is sinking fast, and taking Ohio down with him -- Brent Larkin
OH - Strickland's papier-mach state budget was based on the premise that he could end-run the Ohio Constitution. The governor and his lawyers, presumably from the firm of Barnum & Bailey, convinced their lemmings in the legislature that they could hand Ohio's seven racetracks a monopoly on slot machines -- all while denying voters their democratic right to resist the slots giveaway in an election. A couple weeks ago, the governor reversed an earlier position and asked the Lottery Commission to prohibit anyone under age 21 playing the slot machines. But 18-year-olds can play the lottery. Strickland hinted he might be able to issue an executive order clearing the way for the racetrack slot machines. Meanwhile, the governor's pathetic performance on the issue of gambling is heartening news to backers of Issue 3, the Nov. 3 ballot measure that would permit Las Vegas-style casinos in downtown Cleveland, Columbus, Cincinnati and Toledo.
www.cleveland.com / / September 27, 2009
Hedge Fund CEO Dies in Escalator Fall
NJ - James Vellanti is the second man in two years to plunge from an escalator at The Pier Shops at Caesars.
www.myfoxtampabay.com / / 28 Sep 2009
Hollywood Casino cuts about 28 jobs
PA - Hollywood Casino in Dauphin County eliminated about 28 positions Thursday in a downsizing move, said spokesman Fred Lipkin.
www.pennlive.com / The Patriot-News / / October 01, 2009
Issue 3 will hurt businesses near casinos, group of restaurants, bars says
OH - Columbus- A study released Tuesday by a statewide bar and restaurant group rips a four-casino proposal for over-promising on jobs and local aid that gambling could bring to Ohio's largest cities, including Cleveland. Jacob Evans of the beverage association said if Issue 3 passes, surrounding businesses will suffer because gamblers will not leave the casinos - which would have competing bars and restaurants and other entertainment. Pascarella said casinos, outside of Nevada, don't bring in any new business or residents or spur growth for a city or region. "What we have is what economists call a zero sum game," he said. "One person is a dollar worse off and another person is a dollar better off. But there is no growth, just an exchange of money."
www.cleveland.com / Plain Dealer Bureau Chief / / September 30, 2009
Judge to consider Fontainebleau liquidation
FL - A federal bankruptcy court in Miami will hear a motion Oct. 28 by lenders of the Fontainebleau Las Vegas seeking to convert the resort's bankruptcy case to a liquidation.
www.miamiherald.com / Associated Press / / Sep. 29, 2009
Just a thought ... and kudos to three Manateeans BRADENTON HERALD EDITORIAL | Darrell Turner, humanitarian extraordinaire
FL - Florida Sheriffs Association bestowed its Legislative Award on Galvano [Represenative] for his leadership in negotiations to limit the expansion of gambling in the state and his efforts to fathom federal gaming laws...
www.bradenton.com / Oct. 03, 2009
Keep court free of gambling ties
LA - In the current race for Supreme Court, Jimmy Faircloth has close ties to the gambling industry. We do not need a Supreme Court justice with strong ties to the gamblers, who are constantly trying to enlarge their territory.
www.thenewsstar.com / / October 1, 2009
MGM Mirage ends debt exchange offer
FL - Casino operator MGM Mirage said Thursday that it has ended a debt exchange offer because not enough debt holders accepted the deal. The exchange had been seen as a way for MGM to refinance some of its heavy debt. MGM, which billionaire Kirk Kerkorian has a sizable stake in, had $12.3 billion in long-term debt as of June 30.
www.miamiherald.com / The Associated Press / Oct. 01, 2009
MU takes part in gambling prevention movement
MO - Although researchers have estimated the number of college students with a serious gambling problem is between 3 and 11 percent, only 22 percent of colleges have a written policy addressing gambling, many of which fail to offer any support for students. "Colleges that launch a policy initiative focusing on gambling will be in uncharted waters while attempting to create and implement effective policies and programs that will prevent excessive student gambling and promote recovery among those with a gambling or other pattern of addiction," the report stated.
www.themaneater.com / THE MANEATER / / Oct. 2, 2009
Man dies after falling off escalator at A.C. casino
NJ - "A man was fatally injured after falling from the escalator at the Pier Shops at Caesars...
www.casinocitytimes.com / GAMING NEWS / 28 September 2009
Maybe Next Year For Casino Gambling In Massachusetts
MA - Governor Duval Patrick has been pushing his casino resort agenda since he took office. His first attempt at bringing casinos to Massachusetts was turned away by lawmakers. Lately, however, there has been a change of heart in the state's government. House Speaker Robert DeLeo and Senate President Therese Murray have both joined Patrick's crusade to legalize casinos.
www.casinogamblingweb.com / CasinoGamblingWeb.com / / September 29, 2009
NEW GAMBLING TAX HITS NEW HAMPSHIRE
NH - Federal taxes always skim large sums off the top of lottery winnings, but New Hampshire has added a new series of taxes to lottery winnings. Any player winning over $600 dollars will also be subjected to a state tax, amounting to 10% of the winnings. Http://www.usaplayers.com/forums/
www.usaplayers.com / Gambling News / / September 27, 2009
National Gambling Task Force Focuses On College Students
- Alcohol and drug abuse is one of the main concerns for parents when they send their children off to college. A national task force, however, is warning these parents and the rest of the country that gambling should be treated in the same preventative manner as alcohol and drugs.
www.casinogamblingweb.com / CASINO GAMBLING WEB / / September 30, 2009
New Hampshire Double-Dips with Lottery Gambling Tax
NH - A letter published in the Nashua Telegraph illustrates the trouble that greedy governments can cause for themselves by seeking to drain even more from the golden goose that is gambling. New Hampshire, already receiving substantial revenue from its sale of lottery tickets, has imposed a gambling tax on jackpot winnings.
www.onlinecasinoadvisory.com / / September 27, 2009
New Pittsburgh casino's credit rating downgraded
PA - "Less than two months after it opened, the Rivers Casino has become a riskier bet for one prominent New York credit rating agency. "Standard & Poor's downgraded the credit rating for casino affiliate Holdings Gaming Borrower...
www.casinocitytimes.com / GAMING NEWS / 29 September 2009
Ohio Residents Continue Strong Support for Casinos, Freedom
OH - A new poll by the University of Cincinnati says 70 percent of southwest Ohioans are behind the licensing of casinos throughout the state. Interestingly, 83 percent of state residents say they wouldn't visit casinos once they are legal.
www.onlinecasinoadvisory.com / / September 27, 2009
Ohio governor proposes freezing income tax cuts
OH - Gov. Ted Strickland on Wednesday proposed freezing income tax cuts for two years to fund education in the wake of a court decision that halted his plan to put lottery slot machines at racetracks. Strickland suggested postponing the final year of the overall 21 percent tax cut, raising about $850 million.
www.forbes.com / Associated Press / / 09.30.09
Online Gambling Industry is Thriving Despite Decreased Revenue in Casinos
- Online casinos have increased revenue so, despite the recession, they are still producing healthy results. This is possibly due to the fact that people are trying to stay away from casinos to save money, however they aren't staying away from gambling. Using some sort of mind trick, gamblers are telling themselves that it is okay to gamble at online casinos as long as they don't step foot in one.
www.onlinecasino.org / Onlinecasino.org News / 30.09.2009
Oregon's awkward hush on problem gambling
OR - The Department of Human Services, estimates to be 74,000 Oregon adults with serious gambling addictions. Hatefi's brother, Bobby Hafemann, was one of them. Hopelessly hooked on state-sponsored video poker, the crack cocaine of gambling, he blew every paycheck, pawned everything he owned, borrowed from every friend and relative he had to feed his addiction before killing himself in despair in 1995. Grey, a Methodist minister, has made this fight his life's work. National studies, he says, show that slightly more than 50 percent of gambling revenue comes from just 5 percent of those who gamble.
www.oregonlive.com / / October 02, 2009
PPA and Frank Fighting To Meet UIGEA Deadline
- To the untrained eye, the legislative push to get poker legalized in America appears to have stalled. Meanwhile, Frank's original poker bill has not lain completely dormant. In this past week, it has added four new co-sponsors, bringing the total to 58. Representatives Lynn Woolsey of California, William Clay of Missouri, Adam Schiff of California, and Christopher Murphy of Connecticut have all pledged their support.
www.flopturnriver.com / / 1 October 2009
Pennsylvania House Committee Votes In Favor Of Casino Table Games
PA - The House Gaming Oversight Committee on Friday voted along party lines when it came to adding table games at state slot casinos. The vote came down 14-11 in favor of the table games. This comes despite opposition from even the casinos themselves. The casino believe that the proposed tax rate for table games in the Bill is too high.
www.casinogamblingweb.com / CasinoGamblingWeb.com / / October 3, 2009
Plans for casino funds use tabled
OH - St. Lawrence County lawmakers stopped short Monday of approving a scoring system to judge projects on which slot machine revenue from the Akwesasne Mohawk Casino should be spent. Some said adopting such rules might keep them from using some of the money to bridge an estimated $10.2 million budget gap next year. County officials each year have been told they must submit a plan to spend casino revenue to the state's Empire State Development Corp. for approval before they can receive the money.
www.watertowndailytimes.com / WATERTOWN DAILY NEWS / / SEPTEMBER 29, 2009
Polls Show Support for Issue 3
OH - Four times in the last twenty years, Ohio voters have said "no" to various gambling measures. But this year, just five weeks before the election, polls show steady support for Issue 3. Proponents have spent millions on an aggressive marketing campaign, with eyes on early voters who head to the polls tomorrow. Gambling has never been a favorite for voters in the Northwest and Southeast parts of the state. The poll confirmed opposition from both regions over 50 percent. "The proximity of a casino increases dramatically the number of people who become addicted to gambling and there are all kinds of studies from adjoining states and impact studies that confirm this," said Issue 3 opponent Reverend John Edgar.
www.10tv.com / ONNTV.COM / September 28, 2009
Ready, Set, Scratch! Gambling Lottery Begins In Arkansas
AR - The list of states that are turning to gambling to help balance budgets increased by one on Monday. Arkansas entered the gambling market at 12:01 AM Monday when the state officially started to offer a lottery for their residents.
www.casinogamblingweb.com / CASINO GAMBLING WEB / / September 29, 2009
Recession Causing Lucky Dog Casino To Close For The Winter
WA - Big-name casino companies are resorting to drastic measures such as bankruptcy and employee layoffs to try and stave off the recession. The Skokomish Tribe's Lucky Dog Casino in Washington announced on Wednesday that they will be closing their doors for the winter...
www.casinogamblingweb.com / / October 1, 2009
Relying on Gambling Revenue: A Sucker's Bet
FL - Gov. Crist wants a special session to get the Legislature to ratify a new gambling deal with the Seminole Tribe. The Nelson A. Rockerfeller Institute of Government thusly: "The data shows that states take a real chance depending on gambling because this revenue is not likely to keep pace with growing budgetary needs. In the absence of new types of gambling, it can become a zero-sum gain as states compete for the same pot."
www.theledger.com / September 29, 2009
Simmons: Rein in horse racing spending
MD - Simmons, a longtime opponent of slot machine gambling, says he plans to introduce legislation that would shift the horse racing industry subsidy into the state's general fund to pay for other programs. "I find it incomprehensible that we are going to take $100 million a year from the video lottery revenue and give $100 million a year to the failing Maryland horse racing business," said Simmons (D-Dist. 17) of Rockville. "Groups better wake up and understand that there is nothing written in stone about that $100 million for Maryland horses," Simmons said, calling horse racing a "moribund" industry offering "dead end" jobs without health care benefits. "People didn't vote to give the horse-racing people $100 million -- that was never on the ballot." A January poll by Gonzales Research & Marketing Strategies in Annapolis found that 68 percent of Maryland voters opposed spending $100 million of annual slots revenues on horse racing, with just 23 percent in favor of the law.
www.gazette.net / / Sept. 30, 2009
Slots contract language shifted late in the game
MD - Just two weeks before bids are due on a central computer to monitor up to 15,000 slot machines across the state, the Maryland State Lottery Agency changed the proposed contract to allow manufacturers to bid on both the computer and the machines at the slots parlors. Lawmakers interviewed this week said they are not concerned about the same vendor holding both contracts. Hogan, who at the time of the letter was vice chairman of the Senate Budget and Taxation Committee, cited assurances from Roogow that the lottery would adopt rules and regulations "that ensure that the central computer system and all software cannot be compromised by unauthorized access or other means" and that the central system would not give "any unfair advantage or disadvantage to any qualified vendor." GTECH Corp. provides the central computer to Pennsylvania. Two of the company's subsidiaries provide some of the nearly 25,000 slot machines that are owned or leased by independent operators there, said Richard McGarvey, a spokesman for the Pennsylvania Gaming Control Board.
www.gazette.net / / Sept. 25, 2009
State Senator Wants to Repeal Lottery
AR - Madison will present an interim study to the General Assembly on why they should pass a bill to repeal the lottery. "I don't want to see poor people without a job have a false hope that their situation will change because they buy lottery tickets," said Madison. "They should use that dollar to buy their children some milk."
www.kfsm.com / KFSM / / September 28, 2009
States' bet on gambling industry to balance budgets hasn't paid off
- In many of the nation's cash-strapped statehouses, legislators have turned to increased gambling venues to fill gaping holes in their budgets. But rolling the dice on this industry does not appear to be a winning strategy, a new study from the Nelson A. Rockefeller Institute shows. Gaming revenue declined 2.6 percent nationally, with 28 of 42 states showing losses. The biggest losers were Oregon (-15.2 percent), Illinois (-14.6 percent) and Nevada (-12.5 percent). From these results, it seems clear that planning to offset weak tax returns in other sectors with gaming revenues is not a productive tactic, since gaming receipts also fall during recessions. It also appears that as the number of venues grows, the income per venue shrinks, like the same pat of butter spread across more pieces of toast.
www.dailyfinance.com / / Sep 29th 2009
Station Casinos details lease arrangement, rejection of Boyd
NV - Station Casinos Inc. of Las Vegas is fighting a motion that an examiner be appointed to investigate its financial operations. The minority lenders early this month charged creditors are being harmed by what they called conflicts of interest in the Station corporate structure; payments the company makes to itself to lease four hotel-casinos; and the company's alleged failure to seriously entertain an offer by Boyd Gaming Corp. to buy certain Station assets. With $6.49 billion of debt and other liabilities and facing declining revenue as the recession eroded the locals gaming market -- Station revenue was down 21 percent year-to-year in the second quarter -- the company filed for bankruptcy protection July 28.
www.casinocitytimes.com / GAMING NEWS / / 28 September 2009
Table games bill moves ahead in House
PA - The House Gaming Oversight Committee voted 14-11 along party lines Friday to send a table games bill to the full House for consideration. License fees for the games would be based on a casino's classification under the gambling law. Free-standing casinos, such as Sands Casino Resort Bethlehem, and casinos at horse-racing tracks, such as Mohegan Sun near Wilkes-Barre, would pay $20 million. Such casinos can have up to 5,000 slot machines. Smaller, resort casino operators would pay a $7.5 million fee. Such casinos are limited to 500 slot machines.
www.mcall.com / themorningcall.com / / October 3, 2009
Task force to colleges: Treat betting like booze
NV - Colleges and universities should take more steps to curb problem gambling by piggybacking outreach efforts onto campaigns against alcohol and drug abuse, a national gambling task force said Tuesday. Among the 10 recommendations outlined in the report, the task force said universities should establish clear, written gambling policies that comply with laws, actively campaign against problem gambling, and help treat students if they develop gambling disorders.
www.google.com / Associated Press / / 9/29/09
The Ledger, Lakeland, Fla., on Gov. Charlie Crist's new gambling deal with the Seminole Tribe:
FL - Hence Gov. Crist's rush. Florida may already be nearing a saturation point. Recently, the Florida Lottery introduced vending machines in an attempt to keep milking a gambling cow that may already be running dry. ... Gambling is ultimately a sucker's bet. The problem is, there may not be enough suckers to go around.
The Official KFVS12 and Heartland News Web Site | Unusual paths for candidates in NJ governor race
NJ - The campaign so far has been nasty. Corzine, with a reputation for running ruthless and costly campaigns, has aired several commercials alleging ethical breaches by Christie as U.S. attorney. One ad says Christie used his influence to get off without tickets in two traffic incidents. Christie has brushed aside the charges as trivial and unfounded. Christie has charged that Corzine has conflicts of interests with his investments, focusing on a hedge fund he owns that has ties to the company that owns four Atlantic City casinos. Christie says it's a conflict; Corzine says it's not.
www.kfvs12.com / Associated Press / / Oct 01, 2009
To boost their economies, state officials should be discouraging gambling, not trying to expand it.
- What if all the states with legalized gambling had outlawed it last year and asked gamblers to instead put their money into savings, job retraining, paying off debts, or buying goods from local merchants? Like the gambling addicts they help enable, many states are in denial about this perverse dependence on a fickle revenue source that, as studies show, costs more in social problems than the money it brings in. States with gambling only highlight that they run a "reverse welfare" program.
www.csmonitor.com / / September 29, 2009
Tribal Casinos May See Change from Bush Policies
- According to the Wall Street Journal, the current Department of the Interior is considering dropping a Bush-era policy that tribal casinos be located only on or near reservations.
www.onlinecasinoadvisory.com / / 9/28/09
VERDEN'S RENNELS PLEADS GUILTY TO EMBEZZLEMENT
OK - A gambling addict pleaded guilty Thursday to embezzlement and agreed to repay $421,500 to the victim - the private association that regulates high school sports in Oklahoma. The guidelines require him to stay out of casinos and off Internet gambling sites.
www.chickashanews.com / The Express Star / September 28, 2009
Valley greyhound track to cut live racing
TX - Has greyhound racing run its course? Money-losing tracks across the nation have shuttered over the last couple of decades as attendance has waned and other forms of gambling - such as lotteries and casinos - have proliferated. In addition, the sport's reputation has suffered after years of vocal denunciation from animal welfare groups over the treatment of dogs, while seven states have banned the sport altogether. Pulling live races from VRP for the next two seasons is intended to "stabilize" greyhound racing in Texas and allow the state's three dog racing facilities to operate and contribute purse money to the one Texas park that will continue to feature live racing: Gulf Greyhound Park...
www.themonitor.com / The Brownsville Herald / / 2009-09-27
Video gambling law leaves questions
IL - Questions on the state's new video gambling are spinning around like those colorful icons on a computer gaming screen. In July, Gov. Pat Quinn signed the Video Gaming Act into law as Illinois officials hope to raise $300 million annually to help fund capital construction projects throughout the state. Some liquor establishments, fraternal or veterans clubs and truck stops want to sign up for the new form of gambling. Naperville is one of many Illinois communities working to prohibit this state-sanctioned video gambling within its boundaries. Dan DiSanto, assistant to the Naperville city manager, said the effort is more about morality than money. "This is more of a moral issue here than anything else. We want to be known as a family oriented community. And there is a concern with addition to gambling," said DiSanto, who is working on the request by the city council to draft action on a public vote for the ban.
www.jg-tc.com / Journal Gazette and Times-Courier / / September 27, 2009
Video pokera losing handin Illinois
IL - The issue: The state's plan to fund a $31 billion capital bill with tax proceeds from legalized video gambling seems to be snake eyes. The state gaming board has not yet set up the infrastructure to operate or regulate the system of machines in Illinois' taverns and restaurants, but plans remain on track for the construction projects in the capital plan. We say: The state Legislature needs to get real about paying for these capital projects. The plan was a little shaky from the start. 45,000 legalized video poker machines in bars and restaurants would provide $300 million a year in taxes to pay for a portion of the $31 billion in road, bridge and school projects.
www.southtownstar.com / September 29, 2009
Washington casino to close due to recession
WA - "The Lucky Dog Casino (Skokomish Tribe) will close, thanks to a recession that is causing many of its patrons to hole up at home.
www.casinocitytimes.com / GAMING NEWS / 29 September 2009
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