In terms of how significant this agreement are, consider that this structure currently has over 8,500 construction workers onsite ready to complete this massive undertaking. If this agreement has not come to a happy medium, thousands of current jobs and tens of thousands of future casino jobs would be at jeopardy.

The CityCenter complex is 76 acres of the strip that lies between Bellagio and Monte Carlo. This is an all-inclusive structure containing hotels, casinos, high-rise residential areas, retail, restaurants, and entertainment.

The predicted opening for the CityCenter is scheduled to occur in separate phases beginning in October of this year. The big anticipation is for the December opening of the Aria, a 4000 room hotel-casino that will be the centerpiece of this large establishment.

Now that an new agreement has been reached, there is a positive air surrounding the project from both sides. “I certainly feel better about their ability to survive today than I have in recent weeks,” said Bill Lerner, casino industry analyst.

“Clearly, today, we took a large step forward toward resolving our corporate issues,” Murren said.

The only issue at hand now is how MGM Resort and Casinos will handle the large amount of debt they have incurred over the last year. One possibility is to begin by discussing the possibility of selling other MGM properties.

“I have a lot of ideas, and the solution may not involve an asset by asset sale. But it will be part of the dialogue,” Murren said.

“We believe MGM Mirage’s shares will respond favorably (when trading resumes today),” JP Morgan gaming analyst Joe Greff told investors late Wednesday. “That said, MGM Mirage is not out of the woods by any stretch of the imagination, but we are encouraged by these events nevertheless.”

“This removes a large cloud hanging over the project,” Redlinger said. “Workers can go home tonight and know they can come back to work tomorrow and the next day and the next day until the project is completed.”

Things are turning around for the CityCenter in Las Vegas. Yesterday an agreement was made that will confirm the completion of the $8.5 billion CityCenter.

“I don’t think I can overstate the significance of this event,” MGM Mirage Chairman and Chief Executive Officer Jim Murren told the Review-Journal on Wednesday. “Of all the different alternatives that presented themselves over the past few weeks, this was the best possible and most favorable solution we could have hoped to achieve.”

The CityCenter joint venture has been the topic of many headlines due to the fact that Dubai World has previously stated that it was going to withdrawl from the project, leaving MGM in a state of panic. However, Wednesday’s resolution created a revised version of the contract that both parties are willing to agree to therefore creating optimism for this large gambling undertaking.

“This agreement provides a stable financial framework for one of the most exciting destination resort development projects ever to be constructed,” Chris O’Donnell, Dubai World’s director of the CityCenter joint venture, said in a statement. “We believe CityCenter has a bright future and will benefit both the partners and the local economy, and we look forward to working with MGM management to realize that potential.”

With this agreement, MGM Resort Casino Corporate lenders are providing a $224 million letter of credit that will fund the completion of the CityCenter. As of this moment, the company has until June 30 to find a way to refinance $13.5 billion worth of debt or risk losing it all in a corporate-wide bankruptcy.

“Our company’s ability to obtain this amendment and waiver demonstrates the strong support of our lenders and their belief in the importance of completing CityCenter,” Murren said. “We continue to work with our advisers and lenders to reach a long-term restructuring of MGM Mirage’s indebtedness, and those discussions remain positive and constructive.”

Top online company, Jadestone is growing with the fast pace of technology as it brings Scarab to the iPhone. Jadestone began in 2002 as it tried to capture the European market. Based out of Sweden, Jadestone has created many multiplayer games dating as far back as 1999.

Since that time, Jadestone has focused on browser-based sports games, new online game platforms and as of recently mobile games. Now, Scarab Solitaire has been the latest release from this company for their mobile arena.

Scarab Solitaire is an online Egyptian themed game similar to classic solitaire. This game has made its popularity through popular online social networks such as facebook. After launching in these arenas, Scarab Solitaire has become one of the most popular online games. In the past six months, this game has been played approximately 30 million times.

“With the iPhone’s increasing importance as a gaming device, it was practically a given that we’d get involved,” said Tommy Palm, Vice President Mobile at Jadestone. “We were interested in seeing how we could reinvent one of our most successful casual games for the iPhone and iPod Touch. We’re very pleased with the result. Not only does the touch screen get you closer to the action, we were also able to add real 3D animations and let players choose their own music.”

Now the iPhone has added this game to its already extensive arsenal of games. It can be purchased through the iTunes store for $1.99. People around the globe can enjoy this game as it is also available in English, German, French, Spanish or Italian.

According to the jadestone website, their need for constant improvement is a high priority.

“We’re building the next generation of online entertainment platforms for companies that already have an online audience. We work with media companies, community sites and gaming operators. Our mission is to provide turn-key game services to these companies and great game experiences to their audience.”

Income Access, a top notch affiliate marketing company, has recently revealed that gaming operators in both Ireland and Austria now have access to PPC tracking. In using this technology, these two countries can make full use of Google’s Adwords campaign.

In recent years, these two countries along with others have been blocked out of this system. Currently Google has reopened its doors to accept these countries in an attempt for universal online expansion.

With this new open door policy by Google, companies that reside in these countries will now have the ability to make full use of Adwords provided they already are licensed to do so.

Income Access, a company based out of Montreal, has stated that this move will expedite the process of ‘white-listing’ through Google, as well as being able to have the ability to directly manage campaigns. This process will also allow online companies to provide assistance in obtaining authorization to begin their specific promotions.

“Seeing two more Adwords jurisdictions open up to online gaming shows how the industry has matured,” said Nicky Senyard, Chief Executive Officer for Income Access.

“These changes in Google’s policy represent a significant opportunity for operators and affiliates to boost their traffic. Through our SEM agency, Income Access offers both parties all the support they need to become ‘white-listed’ in these jurisdictions and deploy Adwords campaigns that are optimised for the iGaming marketplace.”

By using Google’s Adwords, these two countries can promote ‘white-listings’ and flood traffic towards the sites. By implementing a tracking system, companies can research and discover which words trigger the response of referrals and new online customers.

Bwin Interactive Entertainment AG has paired up with an affiliate of the Harvard medical school to determine differences in online gaming behavior.

This study, by the Division On Addictions of the Cambridge Health Alliance, will solidify the relationship between Harvard Medical and Bwin Interactive as they continue their Transparency Project.

The recent study is just one more addition to the Transparency Project which was created to learn more concerning gambling addiction.

The Project began in February and has been touted as the first collection of data for public consumption, by private sectors in order to study addictive behaviors.

Benefits of this study have already reared their head as over 40,000 users have been able to commit their anonymous activity to help scientists, and gain more knowledge about the addictive behaviors associated with gambling.

In a study done by 3,445 online users over two years, it was revealed that these users exhibit rational behavior, and are only moderate users of online gambling websites.

‘In this research we provide additional evidence in support of our previous research showing that most subscribers who gamble on the Internet do so moderately,” said Howard Shaffer, Associate Professor at Harvard Medical School and Director for The Cambridge Health Alliance’s Division On Addictions.

“In fact, correlation analyses indicated that as percent lost increased, duration, total gambling sessions and total amount wagered all decreased suggesting that individuals moderated their behaviour based on their wins and their losses, exhibiting ‘rational’ betting behaviour.’

According to the study, the average player was around 28 years of age, and approximately 95 percent of the users were active gamblers for about 6 months. The study also revealed that the users wagered approximately 13 dollars per session.

Linx Media has just announced another teaming up with Microgaming systems. Currently Linx Casinos has over 400 games in many different languages, as it houses a vitural casino, as well as poker and sportsbetting.With over 14 years of experience in the business, Linx casinos offers one of the largest jackpots online. The current jackpot offered to these iGaming customers is around the $7.7 million mark.

“We offer the excitement and dependability of Microgaming casino games but no other Microgaming casino is as generous with bonuses as we are,” said ‘Ben C’ from LinxCasino.com.

“With our Weekly Reload Bonus, we match every player’s first deposit of the week. It’s instant and automatic. You don’t even have to claim it.”

“We have a very simple yet rewarding loyalty programme, too. There are no wagering requirements. Cash in your loyalty points whenever you like. What could be simpler than that?”

It is this ease of use, as well as strong customer service that draws in and maintains the customers at Linx casinos. As fickle as the online gambler can be, one thing is certain, they like big payouts, and they like things to be simple. Customers don’t want to have to jump through extra hoops to receive money they have already earned, that is why the automatic matching of a players deposit is an easy choice for online gamblers.

Linx’s Mega Moolah is now up to $6.2 million and is the top slot for Linxcasino.com in terms of popularity, however slots are not the only games offered at the casino. They also provide customers with roulette, blackjack and multi-player tournaments. They also feature the live dealer that is becoming increasingly popular among online gamblers.

New South Wales based in Australia has recently revealed its plans to offer an exclusive license for their state lottery.

According to Eric Roozendaal, the treasurer for New South Wales, the government would then take over after the exclusive license expires.
“Issuing a licence for the operation of New South Wales Lotteries means public funds can better be directed to priorities such as health, transport and education,” said Roozendaal.

“These funds will come from the proceeds of issuing the licence and the continuing receipt of duties.”

Lotteries are a good source of income as proven by many other nations and states jumping on board in order to raise funds for charities, education, and sports arenas. Many times lotteries slip off the radar of being a source of gambling which actually encourages more participants to be active in playing.

“As a strong and resilient business, New South Wales Lotteries is a compelling investment opportunity. We are encouraged by the high degree of interest from prospective buyers of the licence.”
The terms of the agreement have yet to be divulged, however, they are currently considering a 30 year contract that will include key lottery products with the exclusion of Keno in the state.

Roozendaal stated that they have investigated the other lotteries in nearby cities to take under consideration for their licensing agreement. The proposed plan would not begin until the second half of the year.

The online gambling community continues to expand as Churchill Downs, one of America’s top horseracing venues, begins its process of advanced wagering. YouBet.com and TwinSpires.com will be working with Churchill Downs Incorporated in order to allow the company to access their feed for advance betting purposes.

With this system in place, Churchill Downs will now accept wagers beginning on opening day all the way through July 5^th when the spring meet closes.

“Taking care of our customers and making it convenient for them to access our content are among the top priorities of Churchill Downs,” said Kevin Flanery, Senior Vice-President for Churchill Downs.

“Today’s announcement brings us closer to those goals. We are pleased that our fans will have easy access to Churchill Downs’ content from some of the nation’s most popular advance-deposit wagering platforms including our own TwinSpires.com, which offers innovations such as TwinSpires.tv and superior wagering tools through BRIS.”

“We hope our customers join us for an outstanding season of racing under the twin spires and enjoy wagering on the quality product that we will provide.”

By bringing on YouBet.com, the company could actually increase their online sales, as well as assist in putting TwinSpires.com on the map for gamblers.
“We are very excited to offer the first leg of the Triple Crown, the most prestigious event in all of horse racing, as content for our customers,” said Michael Brodsky, Chief Executive Officer for YouBet.com.

“The Churchill Downs spring meet, and especially the Kentucky Derby, is a perfect complement to the abundance of global content YouBet.com has added this year alone.”

On April 15^th, 2009 Harrah’s casino resort lost another member of their board. With a difficult year in the making, Harrah’s will undoubtedly see many more major changes in the upcoming quarters. Currently Harrah’s faces the reality of a declining economy, where they are running fast to try and escape filing for bankruptcy. And to top it off, Jeanne P. Jackson has notified the company of her resignation. As of yet, there has been no release of why she left the company, only that it was official as of April 15^th. Jackson herself also was not available for comment.

On March 4^th, Jackson was named President of Direct to Consumer to Nike, Inc. At 57, Jackson was already a board member in good standing with the company since 2001.

Her resume for previous jobs is also one of high profile positions. She was CEO of Walmart.com from March 2000 to January 2002 , president and CEO of Banana Republic (owned by Gap, Inc. ) from 1995-2000, and CEO of Gap Inc. Direct from 1998-2000. Since 1978, she has held various retail management positions with Victoria’s Secret, the Walt Disney Company, Saks Fifth Avenue, and Federated Department Stores.

While with Harrah’s Jackson was a director as well as a member of the Audit committee for Harrah’s Entertainment. In leaving the casino business for the shoe business, Jackson will now be in charge of Nike global retail under Chief Executive Mark Parker.

Harrah’s will continue to try to pick up the pieces and not cause the casino resort to take any more financial hits and keep an even keel until the time that the economy turns around to help it pull further away from filing for bankruptcy.

Another aspect with the economy that has had casinos in a state of panic is the lack of gamblers returning to the casinos. Online casinos may be paving the way for those gamblers who choose to stay at home and gamble, but what does the future hold for the big Las Vegas skyline, and the infamous Strip?

Evergreen Gaming Corporation of Vancouver, British Columbia has recently filed for bankruptcy. This would cause both Evergreen and all its subsidiaries such as Washington Gaming Inc. to fall in the same category. Currently these casino operators have about 1600 people that will now be forced to look for other employment.

The filing for bankruptcy will be handled by Deloitte and Touche Inc, as they try to swiftly settle the situations in both Vancouver and Seattle.

The cause of this casino downfall began allegedly when its subsidiaries defaulted on a $29 million loan. According to the court records $30.1 million is now shown as unpaid with Federal Credit Corp of New York.

According to a statement last fall, Evergreen said “Management believes the reduction in revenue is due to factors in the U.S. economy at large and does not represent a long-term change in our market position or expected future results. The region in which (Washington Gaming) operates has experienced an economic downturn and our revenue shortfall is a reflection of reduced spending by individuals throughout the economy.”

Although the courts have given Evergreen until May 15^th to comply, bankruptcy has a way of being drawn out, especially in the casino business. Large sums of money cross hands frequently and oftentimes, the casinos just need time in order to get things squared away.

“While under … protection, creditors and others are stayed from enforcing any rights against the companies, to provide time to enable the companies to restructure their affairs,” Evergreen said. “The filing also permits the companies’ operations to continue in the normal course, while a business restructuring to address debt levels is developed. The implications for creditors of and other stakeholders in the companies will not be known until the terms of the restructuring plan have been determined and the restructuring process is complete.”