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Casino Insider

Dec 28, 2009 2:53 AM

The Chickasaw Nation has been granted a racing and gaming license for its recently purchased Remington Park in Oklahoma.

The Biloxi, Mississippi, City Council has approved a $45 million expansion of the Palace Casino Resort on the Back Bay section of the city.

Northern Nevada Asset Holdings has purchased at auction for $2.5 million the Silver Club Casino in Sparks.

The Siena Hotel Spa Casino in downtown Reno, Nevada, has received a notice of default and a threat of foreclosure from its debt holder, Bar-K Inc. of Lafayette, California.

Black Gaming LLC, operator of three casinos in Mesquite, Nevada, has filed for federal bankruptcy protection.

New construction has continued in Las Vegas despite the recent economic crunch. On the verge of opening are a 1,201-room tower at Planet Hollywood Resort and a 374-room tower at Hard Rock Hotel.

Zacks Equity Research says it maintains its neutral rating on the shares of International Game Technology (IGT) with a target price of $21 a share. IGT will announce its first quarter fiscal results on Thursday, January 21, 2010, at 2 p.m. PDT.

A recent independent study indicates that Delaware should not expand gambling beyond its current three racinos, Delaware Park, Dover Downs and Harrington Raceway Casino.

Churchill Downs Inc. (CHDN) says it has increased its revolving credit facility to $275 million from the previous $120 million.

Electrical maintenance was expedited during a two-week closing of Buffalo Bill’s Hotel/Casino in Primm, Nevada.

State officials reported last week that Mississippi casinos had revenue of $185.4 million, the lowest figure reported since September 2005.

The New York Racing Association says that it is experiencing a cash crunch and that without further state aide it may have to close prior to the running of the famed Belmont Stakes in June.