Bethlehem decides casino’s fate

Sep 20, 2005 4:51 AM

Las Vegas Sands Corp. (LVS) will know this week whether gaming will be banned in Bethlehem, Pa., a community where the company and its partner BethWorks Now plan to spend $839 million for a casino and the preservation of some buildings that were part of the defunct Bethlehem Steel Company.

Prior to presenting its plan to save 23 of the remaining 33 buildings of a site that has been placed among the most endangered historic places in the country by the National Trust for Historic Preservation, the gaming company was advised that the Bethlehem City Council planned to vote on whether its should ban gaming in its community.

However, after reviewing the plan, some Council members indicated they were impressed with the preservation plan and might go along with the casino.

More orders

Bally Gaming and Systems, a business unit of Alliance Gaming Corp. (AGI) added another company to its growing list of firms that have contracted for its systems solution.

Monday, the company announced that it had entered into an agreement with Resorts International Entertainment to provide all of Resorts’ casino operations with its systems solution system. Affected will be Atlantic City Hilton, Resorts East Chicago Casino, Resorts Tunica casino in Mississippi, and Bally’s Tunica, also in Mississippi.

Bally’s Systems already provides casino management solutions at both Resorts in Atlantic City and the Las Vegas Hilton.

New lottery game

Scientific Games Corporation (SGMS) says the Kansas Lottery Commission has approved utilizing the new Electronic Game Card beginning in November.

This will be the second state to implement the new gaming card. Iowa Lottery test-marketed the game last fall with impressive results. In May, Iowa became the first state to offer the game, now called Quarter Play.

The Electronic Game Card is a pocket-sized digital lottery ticket that is about the size of a credit card and is battery powered and loaded with 80 random plays. The card’s LCD screens on the front display the symbols in a particular play and show whether it has won a prize.

THE INSIDER: An earnings conference call has been set by GTECH Holdings Corporation (GTK) for Friday, Sept. 23 at 5:30 a.m. PDT.

Tom Hodgson, president and CEO of Magna Entertainment Corp. (MECA) and other company officers have agreed to forego 50% of their guaranteed bonus for 2005 in consideration for the issuance of performance shares under their Long Term Incentive Plan.

Shuffle Master Inc. (SHFL) has been granted a restraining order prohibiting Gaming Entertainment Inc. from displaying or advertising the Play Four Poker game that SHFL claims violates its patents.

Ferenc Szony, CEO of the Sands Regent (SNDS), has been named the gaming industry’s top performing chief executive officer by HVS Executive Search.

Moody’s Investors Service has assigned a B2 rating on the $400 subordinated notes of Kerzner International Limited (KZL).

Analysts at Jefferies & Co. have upgraded the shares of Penn National Gaming Inc. (PENN) from hold to buy.

Colin J. O’Brien has retired as a member of the board of directors at Scientific Games Corporation (SGMS) and has been replaced by Gerald J. Ford, former CEO of Golden State Bancorp prior to its merger with Citigroup Inc.

Bally Gaming and Systems, a subsidiary of Alliance Gaming Corp. (AGI) has opened an engineering operation in Chennai, India, considered the "silicon plateau" of India.

A move by Sen. Jon Kyl of Arizona to attach an anti-Internet gaming provision to an unrelated piece of legislation failed when another senator objected. Kyl said he would continue to seek approval of efforts to ban Internet gaming in the U.S.

Lakes Entertainment Inc. (LACO.PK) announced that it had engaged the firm of Piercy Bowler Taylor & Kern as its independent auditors succeeding Delloite & Touche LLP that had resigned.

Some business leaders in Cleveland, Ohio, are banding together to present a unified plan supporting casino gambling in hopes of going before the voters in November ’06.