Casino Industry Insider news bites - 02-15-2010

Feb 16, 2010 2:34 AM
Industry Insider by Ray Poirier |

AirTran Airways will begin air service from its base in Orlando, Florida, to Tunica, Mississippi, because of increasing demand from potential casino customers.

Danny Wade, former vice-chairman of MGM MIRAGE Inc. (MGM), has been appointed to the board of directors of Shuffle Master Inc. (SHFL).

Investors are eagerly awaiting the fourth quarter fiscal report from Las Vegas Sands Corp. (LVS) to be made on Wednesday, Feb. 17. On the following day, MGM MIRAGE Inc. (MGM) reports its fourth quarter results.

Facing a huge budget deficit, Kentucky Gov. Steve Beshear has again asked the state’s lawmakers to take another look at authorizing slot machines at all of Kentucky’s race tracks.

An Arizona tribal casino – The Crossing Casino in Fort Mojave – will close down at the end of February because of declining business.

Atlantic City casinos reported $294.2 million in gaming revenue during January, a decrease of 8.5 percent from the previous January.

Baltimore Mayor Stephanie Rawlings-Blake says she supports the idea of table games in Maryland. Baltimore is one of the locations approved for slots parlors.

Pinnacle Entertainment reported amending its $275 million revolving credit facility that matures on March 31, 2014. Also, it was noted that gaming revenues at the company’s Lumiere Place in St. Louis, Missouri, were down one percent in January.

Analysts at BMO Capital Markets have initiated coverage of Bally Technologies Inc. (BYI) with an "outperform" rating and International Game Technology (IGT) with a "market perform" rating.

IGT announced that it terminating its operations in Japan during the next few months and will take a charge expected to be $20 million in the second and third quarters.

Greg Anthony, former star basketball player with Jerry Tarkanian’s UNVL championship squad, was co-host of Fox Business Network’s "Happy Hour" segment last week.

Magna Entertainment Corp. (MECA) has asked the bankruptcy court to permit it to auction off both Pimlico and Laurel racetracks in Maryland on Feb. 23. A hearing on the results of the auction could be held on March 3.

Lakes Entertainment Inc. (LACO) has named Tracy Mimno as general manager of Red Hawk Casino in Shingle Springs, California. She previously was CEO of Peppermill Resort Spa Casino in Reno, Nevada.

Dave Sanchilli, former race and sports director at the Golden Nugget Hotel/Casino in downtown Las Vegas, has advised friends that he has recovered from a debilitating illness and has been contacting his many "cigar" customers.

Question? Comment? E-mail me at: Ray Poirier