Casino Insider

Jun 4, 2012 7:29 PM

Caught in the middle of a tribal casino battle that left political scars in the community, Mayor Mike Lester of Broken Arrow, Okla., said he was giving up his mayoral post but would remain a member of the city council. Vice Mayor Craig Thurmond is expected to assume the mayor’s position.

Following the signing of a new gaming compact between Gov. Beverly Perdue and the Eastern Band of Cherokee Indians, the House budget subcommittee has approved changing the state’s gaming laws to permit table games at the Cherokee casino in western North Carolina.

The Oglala Sioux Tribal Nation has opened the East Wind Casino in Martin, S.D.

Isle of Capri Casinos Inc. (ISLE) will release its financial results for the fourth quarter and year end on Thursday, June 7, at 7 a.m. PDT.

Economists at the University of Nevada, Las Vegas, are predicting southern Nevada will soon see as many visitors as it did just before the Great Recession in 2007.

Jonathan Halkyard has resigned his position of chief financial officer for Caesars Entertainment Corp. (CZR) to take a similar position with NV Energy Inc. Caesars is seeking a replacement.

The Philadelphia, Pa., casino license formerly held by Foxwoods Resorts is now in limbo with little likelihood the state’s lawmakers will award the license to another group in the near future.

The $320 million casino that Penn National Gaming Inc. (PENN) opened in Toledo, Ohio, last week reportedly attracted some 7,500 customers on its first day of operation.

Boyd Gaming Corp. (BYD) said it has increased its debt offering to $350 million and has priced it at 9 percent per annum. The notes will be due in 2020.

The Maine Legislature has upheld the veto by Gov. Paul LePage of a bill that would have permitted fraternal and veterans’ organizations to operate up to five slot machines each.

Greektown Casino-Hotel in downtown Detroit, Mich., is going forward with a $28.6 million project that includes a parking garage and a new upscale restaurant.

Voters in Taunton, Mass., will decide on Saturday whether to approve a $500 million casino proposed by the Mashpee Wampanoag tribe.

In Lakeville, Mass., where another Wampanoag tribe proposes to locate a casino, voters also will express their opinion on the matter in a referendum on Saturday.