MI Casino Helps Bolster Economy

Author: Chris  //  Category: Las Vegas Casinos

The Firekeepers Casino near Battle Creek, Michigan, is celebrating its first anniversary. The casino opened its doors on August 5, 2009 and since then has seen a great share of customers, a good share of winners and a positive impact on the community. To help celebrate its first birthday, the Firekeepers Casino is offering many fun promotions. The main promotion will see three lucky winners win a year’s worth of groceries, gas, or mortgage payments. Of course the jackpots will be rolling also. The Casino is run by the Nottawaseppi Huron Band of Potawatomi Native Americans. Even though the emphasis of the birthday celebrations are placed on the fun the casino goers can enjoy, operators of the casino want the residents of Western Michigan to know about the casinos impact on the economy in the region.

In the past two years many of states have looked toward their gambling laws to help boost their sagging economy. For most, this meant expanding gambling and casino laws so the state governments can take advantage of taxes and fees on the casinos. Lawmakers know these are short term fixes, but, at the moment, any booster shot for the economy is a good one. Some states like Michigan, have added casinos. Of course, there are the taxes and fees, but the feel bringing casinos into a region of their state will help their economy in the long term. The Firekeepers Casino is a good example of this.

The Firekeepers Casino has brought close to 1,500 jobs to West Michigan. Most experts will state that creating jobs is the biggest step to reviving the economy. Executives from the casino also say that the Firekeepers Casino has been able to bring almost $12 million into the local economy. “We’ve always viewed ourselves as a positive economic driver, here in this community,” said Marketing Director Michael Facenda. The one year old casino in Michigan is doing its part to stimulate the economy, putting people to work, and getting people to spend.

U.S. Casino Companies Hurting in 2nd Quarter

Author: Chris  //  Category: Las Vegas Casinos

The economy in the United States is still paying havoc with the casino and gaming industry. While there may be subtle signs of hope in the American economy it is moving at a snails pace and the trickle down effect has become more of a slow drip. The casino and the casino resort industry may be one of the bottom plops of the trickle down. Many sectors of the economy must improve before consumer confidence can improve. Most people won’t go out and spend money if they feel they don’t make enough or they aren’t sure how much longer they will have a job. Everyone is saving for a rainy day. The definitely won’t spend money on extras like trips, hotel rooms and gambling.

The casino and casino resort industry is starting to post their results for the second quarter. Not surprisingly, the numbers are not good. Stock prices for most of the casino resort companies and casino suppliers are down. Las Vegas based financial consultant, Applied Analysis, tracks ten major casino companies. Seven of those ten saw double digit declines. The worst to be hit were the casino suppliers. If the casinos, themselves, aren’t doing well, what can those who work for the casinos expect? Companies like International Game Technology, WMS Industries, and Ball Technologies all saw drops between 10.5 and 14 percent in their stock prices.

The casinos companies of course took a hit. Boyd Gaming was the biggest. Their daily stock prices nose dived 22 percent. Some of the bigger companies were able to break their fall with their overseas interests. Las Vegas Sands Corporation and Wynn Resorts Ltd. both have major properties in Macau and Sands recently opened Marina Bay Sands in Singapore. This helped slow the fall as the Asian market is booming right now. However, stock prices were still down without much help in sight. The economy in the U.S. may be picking up, but will it pick up fast enough?

tation Casinos Takes Big Step Toward Restructuring

Author: Chris  //  Category: Casino Games

The saga that has been the Station Casinos bankruptcy proceedings took its first step toward reaching a conclusion this week. For the past several months Station Casino operators, their lenders, and the U.S. Bankruptcy Court have been locked in negotiations and hearings. Sometimes they have not been too friendly. Station Casinos is doing its best to keep a hold of its best properties with newly formed Fertitta gaming which comprises of Station Casinos’ founding family the Fertittas. The Fertittas and their creditors have been at odds over whether the remaining properties should be auctioned as one entity or individually. Of
However, as said before, all sides made a huge step forward that could help Station Casinos move into their restructuring phase, a time that is badly needed. The U.S. Bankruptcy Court in Reno and presiding judge Gregg Zive approved measures that could allow for Station Casinos lenders to vote on the restructuring plan by the end of August. In a nice contrast to his harsh remarks in the past, Judge Zive praised all sides for coming to an agreement. “For the most part, the parties were able to arrive at consensual resolution as to what should be disclosed and how it should be disclosed. I commend the parties for that and I think that’s how the process is intended to work.” The hearing was set to last two days but only took a few hours.

Station Casinos must release a disclosure statement. This statement is to allow the lenders to evaluate where the company stands, and what would be the best restructuring plan. Should there be any objections to the reorganization plan, they are due by August 12. Replies to the objections are due August 20. The disclosure statement will be updated after the companies auction. This will be when creditors will fully understand what should be expected.

Greece to Reverse Gambling Laws in Midst of Recession

Author: Chris  //  Category: Online Casino News

In the United States the economic recession has forced many state governments to look into expanding their gambling laws. The idea is to generate much needed revenue to help fill budget gaps that are rapidly increasing. The recession has become a global one, and many countries in Europe are suffering. One of the hardest hit European countries is Greece. Their economy is in near collapse to the point of rioting. They too have looked toward gambling to help bring in badly needed cash. For Greece this would mean a complete reversal of current laws. However, for Greek lawmakers, they feel this may be the only way to stimulate a dismal economy and help work on the massive amounts of accumulated debt.

The Greek government is expected to release a draft of a new law that will once again allow electronic gambling machines. It could also allow online casinos and gambling sites. Since 2003, Greece has had a total blanket ban on all gambling machines. The only gambling machines allowed are housed in a few casinos. Gambling in Greece is highly regulated and most consider it to be a state run monopoly called OPAP. OPAP controls horse race as well as casino gambling and lotteries. Right now gambling brings in about €8.7 billion per year. This came after a near pandemic of illegal gambling operators broke out in the country. This ban has been the subject of talks within the European Union. European Union officials feel this violates EU policies and has since fined Greece €31,500 a day.

That fine may not matter much longer. Greece is betting on close to €1.3 billion over the next three years from expanded gambling laws. They intended to draw cash from gambling licenses, and royalties. Greece needs it. Right now any cash is good cash. With revenues dropping and tensions rising a 180 degree turn on gambling could only hope to be a start.

France Grants Online Gambling Licenses

Author: Chris  //  Category: Online Casino News

France has long been on the list of online gambling activist groups. The French government is one of the European Union member nations that has supported a state run monopoly over gambling, lottery, and online gambling activities. Recently they announced they would be relaxing those laws. This, however, did not relax most attitudes of right to choose groups such as, Right2Bet. Online gambling groups were happy that progress was made, but still agitated over it being such small steps. They also thought the new French laws were only for show. Online gambling groups claimed that the relaxed laws still only offered online gambling licenses to French companies or those foreign companies willing to pay high tax rates on operating within French borders. Groups felt the law wanted companies to work in France, but at the same time discouraged companies from working in France.

If discouraging was the goal, than it worked. Big online gambling companies like the sportsbook, William Hill, opted out of working in France. If giving the French gambling public more options was the goal, than that also worked. Many online gambling companies still applied for licenses to operate their online casino, sports gambling and poker sites. In all, a French report stated that thirty-five online gambling companies applied for a French license. Of the thirty-five, eleven companies were granted a total of seventeen licenses between them.

The online gambling companies who received licenses were, BES SS, Betclic, Beturf, Everest Gaming, France Pari, Iliad Gaming, Pari Mutuel Urbain, Sajoo, SPS Betting France, Table 14, as well as the state run Francaise des Jeux. These eleven online gambling companies will be able to operate sites dedicated to online horse racing gambling, online sports gambling, and online poker. The president of France’s gambling regulator, Arjel, Jean-Francois Vilotte, was pleased with the number of applicants. He also stated that none of the companies that applied were officially turned down.

England, America Gamble on World Cup Match

Author: Chris  //  Category: Online Casino News

England and America have always enjoyed a special relationship. Of course, it started with a war when a bunch of upstart colonists decided they didn’t want to be ruled by a government on the other side of the ocean. It blossomed into another war which, even though the capital city was torched, the new Americans were still able to keep the Brits on the other side of the pond. Since then, though, the two countries have shared a very special bond. They have been trading partners, not only in goods but in music and art. They have even been allies in two world wars. In the latter half of the twentieth century they were two of the world’s super powers. They now turn to each other in a sort of brotherly way. They may disagree but they always come together. Of course it might come down over one sports gambling bet.

The Americans and the English start the 2010 World Cup with a highly publicized match against one another. England has a storied tradition of great soccer (excuse me, football). They have turned out many stars, have one of the most competitive leagues, and even have a World Cup championship. When compared to England the American soccer programs are much like their national history, young, but forceful. There are no World Cup and very few major stars. In fact, most professional leagues have met sad fates. However, the national team takes great pride in being the dark horse, and they revel in their rivalry with the English. So much so that the ambassadors for both countries have made a friendly gamble over the match.

The American ambassador in London has made a bet with his counterpart in Washington D.C. The wager is one meal. The gamble has come with some tongue in cheek jabs. “We will understand if you decline, given the outcome of the last encounter,” wrote a U.S. aide. An English official replied, “It is a testament, I assume, to the generosity of your great nation since the British Ambassador does not anticipate paying out.” We’ll all know who has to pay the gambling debt tonight.

Casino Resort Giant Asks Subcontractors to Meet over CityCenter Dispute

Author: Chris  //  Category: Casino Games

The legal battle between CityCenter owner and operator, MGM Mirage, and the construction company Perini Building Company has been highly publicized. Perini Building is claiming the casino resort empire owns them hundreds of millions of dollars. MGM Mirage has found some fault with the work and is, for now, unwilling to pay their balance. Where this is taking a tragic turn is the work done by and money owed to the subcontractors. Many of the subcontractors hired by Perini Building are local, Las Vegas owned, small businesses. Most of the subcontracting companies have worked on and/or for other MGM Mirage casino projects, and typically have no dispute with them. However, some of the small businesses are saying that if they don’t get paid for their work on CityCenter they will have to close down their business.

Earlier Perini Building invited some of the subcontractors to meet with Nevada Governor, Jim Gibbons. Much was discussed, but little was resolved. Now MGM Mirage wants to hear from the small businesses. This time there will be no government official, but they are asking all of the subcontracting companies who have disputes to come to the table. “We just don’t know who they all are and the total number,” said MGM Mirage spokesman, Alan Feldman. The meeting, which will take place in the Bristlecone Ballroom in CityCenter’s Aria Resort and Casino convention center, will be a chance for the parties involved to discuss the close to $390 million that are in question.

CityCenter’s Chief Executive Officer, Bobby Baldwin will oversee the meeting between the casino giant and the subcontractors. All involved want to see how MGM Mirage plans to settle the dispute with the subcontractors. Both Perini Building and MGM Mirage officials have stated the dispute is between the two major companies. Neither is afraid to fight it out, but neither wants those who worked so hard on the CityCenter project to loose out.

Online Casino Offers Superhero Games with Mystery Jackpots

Author: Chris  //  Category: Las Vegas Casinos

The Windows Online Casino was established in 200 and for the past decade has brought players fun games, exciting promotions, and winnings jackpots. Windows Online Casino is powered by the powerful Playtech software. This allows the online casino to support many languages and currencies. Windows Online Casino offers tournaments with a monthly prize pool of 10,000. They also have a multi-level membership loyalty program for their returning customers. As far as games go they have it all. Windows Online Casino hosts card games such as blackjack, baccarat, and poker; table games like craps, European roulette, and sic bo; and loads of multi-line and single line video slots.

It is their online video slots that are currently grabbing players’ eyes. Slot games in both land based and online casinos have become popular not just for their ease of play but for their fun. Theming and bonus games have drawn in players from all walks of life. Of course, the jackpots that are tied to the slot games are helping attract players also. Some of the most popular themed slot games are modeled after the famous superheroes and villains of Marvel Comics. Some of the slot games based on Marvel Comics include, Blade, DareDevil, Elektra, the Fantastic Four, Incredible Hulk, Iron Man, and X-Men. Coupled with images that mimmic the blockbuster movies, they are hits online and on land.

The Windows Online Casino hosts the Marvel Comics online slot games. Not only do they provide superhero fun, but they attach it to super-paying jackpots. All seven of the Marvel Comics slot games at the Windows Online Casino come ready to pay from four levels of progressive jackpots. Players have the opportunity to win from the Power, Extra Power, Super Power and Ultimate Power jackpots. However, that is not all. There is also the mystery jackpot. At random the mystery jackpot can be triggered even without a winning combination. PLayers will have the chance to choose symbols in a bonus game and find out which jackpot they have won.

Hard Rock Casino Gives Turkeys to OK Food Centers

Author: Chris  //  Category: Las Vegas Casinos

No sooner had it been reported that the operators of the Hard Rock Hotel and Casino Tulsa in Oklahoma had donated thousands of dollars to local nonprofit and volunteer organizations and volunteer hours working on a local community center another act of great kindness was extended to the Northeastern Oklahoma community. The Hard Rock Hotel and Casino Tulsa donated close to 3,000 frozen turkeys to several organizations to help stock kitchens aimed at helping hungry Oklahomans. Some of these donations came as a surprise to the recipient organizations as part of the Hard Rock Hotel and Casino Tulsa’s Anything Can Happen initiative to support the community. Of the more than $1 million the casino’s operators make in donations close to $100,000 has gone to Anything Can Happen.

The Salvation Army received 1,000 frozen turkeys. This was the largest turkey donation the Tulsa Metro Area Command has ever received. The Salvation Army gives to more than 5,000 families each year. They have been expressing the need for more donations this year. Another surprise donation of 100 frozen turkeys was made to the Tulsa Boy’s Home. “What a generous donation this is. The timing is perfect!” exclaimed Executive Director for the Tulsa Boy’s Home Michael Conway. He thanked the Hard Rock Hotel and Casino Tulsa, and noted that the turkeys, “…will go a long way for us in feeding the boys.”

The best part about the donations is it comes directly from he employees of the Hard Rock Hotel and Casino. Every year the casino offers its employees the chance to take a turkey home or donate it. Casino workers decided to give. “It’s a tough time for many families, and our employees responded very generously by choosing to donate more turkeys than ever to our neighbors. Other donations were made to Community Food Bank, Regional Food Bank of Oklahoma, Iron Gate, Meals on Wheels, and Cherokee Nation food distribution centers.

U.S. Congress Holds Hearings Regarding Online Gambling Part II

Author: Chris  //  Category: Online Casino News

Of course opposition to legalizing online gambling and casinos in the United States is coming from conservative leaders. They make valid arguments that online gambling is hard to police. Even though there have been major improvements in software and operating systems, spotting underage and problem gamblers is still difficult. Some members of the committee brought up examples of problem and compulsive gamblers getting lost in online gambling. Republican Representative Bob Goodlatte of Virginia argued that online gambling has dropped among college aged males since the Unlawful Internet Gambling Enforcement Act was passed. He was one of the original supports of the bill. Compulsive and underage gambling is a problem. “They are tragedies right now,” claimed Rep. Earl Blumenauer, Democrat of Oregon. He argued and others argued that both online and land based casinos don’t want that “black eye.” However, those problems are going to exist no matter what, so why not let regulation help police that type of action.

Moral implications are important and should be examined. However, regulated online gambling’s biggest debate amongst supporters is the two percent deposit tax. The tax would give state and tribal governments a chance to collect on some of the money coming in. It cod be as much as $30 billion over the next decade when combined with some of the states’ income taxes. Most supporters both in Congress and the U.S. casino industry do not think the tax is fair. Representatives from Nevada weighed in on the proposed tax. Rep. Dean Heller asked if the tax would make sense if someone walked into a department store with money and walked out with nothing.

Rep. Shelley Berkley likes online gambling. Most representatives from Nevada believe that online gambling would find a natural jurisdiction in the state, and create over 30,000 jobs. However , Berkley also claimed that the bill would not gain support with this tax. Rep. Berkley feels, “The issue of taxation and legalization are separate and distinct.”

McDermott argued that his research with online gambling operators showed they would rather pay the deposit tax than a gross gambling tax, because they know players are going to spend that money anyway. “In talking to the industry, they say this is the best way to do it.” In any case, the debate is on and making progress. Online gambling within the U.S. is now more than just an idea.

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