Casino Insider

Jun 25, 2012 7:25 PM

Bank of America’s Merrill Lynch division has lowered the target share prices for Las Vegas Sands Corp. (LVS) and Wynn Resorts Ltd. (WYNN) because of a perceived softness of revenues from Macau operations. The target price of LVS was lowered to $60 from $65 and the WYNN share price was lowered to $130 from $140.

Michael Brodsky has resigned as a director of Churchill Downs Inc. (CHDN). The board then agreed to reduce the number of directors from 11 to 10.

Maryland officials have given final approval for the sale of Rocky Gap Lodge and Gold Resort near Cumberland to Evitts Resort LLC, a unit of Lakes Entertainment Inc. (LACO). The latter company plans to operate 1,000 slot machines at the facility.

Mississippi gaming revenues rose 26 percent to $185.3 million during the month of May. However, the total was $2 million less than the amount recorded during the month of April.

The Massachusetts Gaming Commission has officially taken over the duties previously performed by the state Racing Commission.

International Game Technology (IGT) has introduced its Da Vinci Diamonds slots game on Facebook.

A bill signed by Gov. Lincoln Chafee guarantees the state will get 18 percent of the proceeds from table games at the state’s two slots facilities should such games be approved by the voters this fall.

The closing of Freddie’s Club, a minicasino and card room in Fife, Wash., has cost the jobs of 100 employees.

Louisiana businessman Chris Ferrara plans to seek approval of the former Heinz pet food plant on the Back Bay of Biloxi, Miss., as the site of his proposed casino.

The Alderney Gambling Control Commission has granted a core service provider associate certificate to Swedish mobile and social developing studio called OMI Gaming.

Atlantic City has agreed to pay Trump Entertainment $54 million in property tax credits to settle a previous real estate assessment that was successfully challenged by the company.

Hoosier Park in Indianapolis, Ind., has introduced FastBet Mobile system, which allows fans to place bets on 7-inch tablets. Beginning July 4 weekend, fans will be able to use the free online service to bet on smartphones, iPads or Android tablets.

A bill authorizing online betting in Delaware will be voted on in the Senate sometime this week.