Casino Insider

Jul 11, 2011 7:06 PM

Canadian Michael Moldenhauer, whose company was denied a Maryland slots license is suing the state’s gambling commission alleging the bidding process discriminates against companies owned by white men, and that the minority, or female-owned selection factor in the request for proposals is "unlawful."

An analyst for Morgan Stanley says room rates for MGM Resorts International (MGM) are rising 5 percent in the third fiscal quarter.

Canterbury Park, victimized by the government shutdown in Minnesota, has petitioned the state to reopen the Minnesota Racing Commission office so it can return to live racing.

The Iowa Supreme Court has restored a $10 million award to John Pavone of Signature Management Group who sued Wild Rose Entertainment for failing to hire his management firm to run a casino.

An official from Macau has reiterated that the Studio City project on the Cotai Strip, recently purchased by Melco Crown Entertainment Ltd. (MPEL), does not contain a casino.

Fiscal year tax revenues from slot machines amounted to $1.3 billion, according to the Pennsylvania Gaming Control Board.

Steve Wynn has purchased at auction a set of antique Chinese vases for a record price of $12.7 million. He plans to place the vases on display in a new casino being planned for Macau’s Cotai Strip.

International Game Technology (IGT) announced the appointment of Eric Berg as the company’s new president. Berg is leaving his post at SunGard Availability Services.

Analysts at Jeffrey’s & Co. have reduced their target price for shares of WMS Industries Inc. (WMS) from $36 to $32.

Maryland racing officials have approved a racing license for racing at Rosecroft Raceway, now owned by Penn National Gaming Inc. (PENN). The license requires that there be 20 live racing days in 2011 and 54 live racing days in 2012. PENN bought the facility in hopes of turning it into a racino with slot machines.

Hollywood Slot racino in Bangor, Maine, another facility owned by Penn National, will be able to convert to a full-fledged casino provided local voters approve the change.

Atlantic City Hilton Casino Resort has lost its licensing arrangement for the brand name "Hilton" and is now known as ACH.

Pinnacle Entertainment Inc. (PNK) and two other companies have indicated an interest in building one of two "small" casinos in Atlantic City. Lawmakers authorized the licensing of two casinos with 200 rooms or less.

Las Vegas tourism authorities say they plan to increase the amount of fireworks for the New Years’ celebration. Fireworks will be fired from eight rather than seven casinos.

A federal appeals court has ordered Chicago riverboats to pay 3% of their revenues toward a fund that will benefit the horse racing industry. The distribution law was passed in 2006 was appealed by the casinos.