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Latest Casino News
:New Jersey Gambling News Brief
MGM Mirage to sell Borgata stake
Wall Street Journal, Friday, March 12, 2010 at 11:06:35 AM
MGM Mirage will sell its 50% stake in the Borgata Hotel Casino & Spa in Atlantic City, as widely expected, in a settlement with New Jersey gambling regulators.
Shares rose 1.4% in early trading to $11.83 while Borgata partner Boyd Gaming Corp. climbed 1.4% to $8.72.
The regulators had raised concerns about the suitability of MGM Mirage's business partner in Macau. Chairman and Chief Executive Jim Murren reiterated Friday that the casino operator disagrees with the New Jersey regulators. He said other regulators have determined the relationship with Pansy Ho is appropriate or decided further action isn't required.
MGM Mirage disclosed last year that New Jersey's Division of Gaming Enforcement had issued a confidential report saying the company should disassociate from Ho, the company's joint venture partner in Macau. It labeled her an "unsuitable" business partner.
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Alabama Gambling News Brief
VictoryLand reopens, Task Force slowed down
The Tuskegee News, Thursday, March 11, 2010 at 9:37:08 AM
Rumors VictoryLand was going to reopen surfaced the middle of last week. By Friday (March 5) rumors became reality as hundreds of patrons resumed playing many of the 6,400 electronic bingo machines at the entertainment center in Shorter.
A series of events led to hundreds of employees returning to work at the facility that had been shut down February 4 by owner Milton McGregor to prevent Gov. Bob Riley's Anti-Gambling Task Force from conducting a raid to seize machines and proceeds.
VictoryLand avoided a raid by Task Force director John Tyson and about 100 Alabama State Troopers on January 29 by obtaining a restraining order from Fifth Circuit Judge Tom Young.
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Missouri Gambling News Brief
President Casino to surrender license to state gaming commission
St. Louis Globe-Democrat, Wednesday, March 10, 2010 at 4:52:38 PM
Pinnacle Entertainment has agreed to surrender its license for the President Casino in downtown St. Louis. It will close by July 1.
The gaming company, based in Las Vegas, reached a settlement agreement with the Missouri Gaming Commission that was announced Wednesday. Pinnacle officials met with the Gaming Commission at its meeting in St. Louis.
LeAnn McCarthy, a spokesperson for the commission, said the agreement calls for the Pinnacle to turn over the license and the commission to rescind its revocation order in approved in January. Pinnacle, which manages a number of casinos in the St. Louis area, will close the casino by July 1.
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Nevada Gambling News Brief
Harrah's to clubs: Pay bills at Planet Hollywood or leave
Las Vegas Sun, Tuesday, March 09, 2010 at 11:58:53 AM
The new owner of the Planet Hollywood resort in Las Vegas has been pressuring the bankrupt Prive and Living Room nightclubs there to either pay their past-due rent and expenses or vacate the premises.
Owned by Miami nightclub company the Opium Group, Prive and Living Room filed for Chapter 11 bankruptcy protection Nov. 11 in Florida.
Since then, Harrah's Entertainment Inc. of Las Vegas has acquired Planet Hollywood and Harrah's has been agitating in the bankruptcy case that it be paid for past-due rent and extra security expenses.
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Indiana Gambling News Brief
Hoosier Park owner files for bankruptcy
Indianapolis Star, Monday, March 08, 2010 at 10:52:35 AM
The company that owns Indiana's Hoosier Park casino and horse track in Anderson and a Colorado casino is seeking a reorganization of its finances in a Chapter 11 bankruptcy filing.
The parent company is the second with Indiana casino connections to go into bankruptcy since November.
Centaur LLC says normal operations will continue at Hoosier Park in Anderson and Fortune Valley Hotel & Casino in Central City, Colo., despite Sunday's filing. The Indianapolis-based company said it would also continue work on its Valley View Downs & Casino projects near New Castle, Pa.
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