Tribal stumble opens door to LVS

August 28, 2007 2:44 AM
by

share

He led the Mashpee Wampanoag Tribe to federal recognition and the opportunity to have its own casino in Massachusetts but Chairman Glenn Marshall carried a lot of personal baggage all the way.

On Friday, the leader of the Cape Cod tribe and the point man in its efforts to score a casino license in Middleborough took a leave of absence from his post after a local newspaper reported that he distorted his military record and that he had been convicted of raping a woman in Barnstable in 1980.

Replacing Marshall is Vice-Chairman Shawn Hendricks who vowed to continue the tribe’s efforts at locating a tribal casino in Middleborough. He said the tribe will soon file an application with the Bureau of Indian Affairs to have land in Mashpee and Middleborough placed into federal trust.

There was no reaction from state authorities with whom the tribe will have to negotiate to develop a gaming compact.

However, in the meantime, Billionaire Sheldon Adelson, the largest single stockholder in the Las Vegas Sands Corp. (LVS) said he definitely was "in the mix" in seeking a Massachusetts casino license.

Adelson, a native of Dorchester, Mass., reportedly is eyeing a site in Marlboro, near interstate 495, for a $1 billion casino resort.

The gaming activity in the Bay State has generated new interest in neighboring New Hampshire to consider allowing its three pari-mutuel horse and dog tracks to install slot machines.

Rockingham Park, situated on the Massachusetts border in Salem, N.H., has been lobbying for slot machines for more than a decade without success. But because of what appears to be growing interest in not lagging behind its neighbor, New Hampshire officials reportedly have been meeting with track officials to review the possibility of establishing racino legislation.

Positive view

Yes, we have turned the corner and we will have substantial net income in 2008 and No our Rainbow Casino in Vicksburg, Miss.

That was the message last week from the leaders of Bally Technologies Inc. (BYI).

In a filing with the Securities and Exchange Commission, the company said it expects diluted earnings for 2007 to exceed $0.34 per share and that it expects 2008 diluted earnings per share to range from $1.25 to $1.56 per share. On an adjusted basis, the company said those earnings should be between $1.39 and $1.69 per share.

As for the Vicksburg property, the company said, "Rainbow Casino continues to generate solid profits and cash flows," and that it is pleased with the performance since the opening of its new River View restaurant.

THE INSIDER: Pinnacle Entertainment Inc. (PNK) plans to seek approval from the Louisiana Gaming Control Board to build a new casino in south Baton Rouge. This will be the third casino in the state’s capital city.

According to recent filings with the federal government, the American Gaming Association spent $900,000 in lobbying expenses during the first half of 2007.

Boyd Gaming Corp. (BYD) has been fined $185,000 by the Nevada Occupational Safety and Health Administration for nine violations of workplace standards found during the investigation of two worker deaths at The Orleans Hotel/Casino.

Analysts at Deutsche Securities have initiated coverage of the stock of Melco PBL Entertainment Ltd. (MPEL) with a "buy" rating. This followed an upgrade by analysts at Citigroup that pushed the share rating to "buy" from "hold."

Workers at Casino Aztar in Evansville, Ind., have filed a petition with the National Labor Relations Board seeking a union representation election. The property is owned by Columbia Sussex Corp.

Slot technicians at Caesars Atlantic City, owned by Harrah’s Entertainment Inc. (HET) have approved a bid to unionize. They voted 20-11 to join the United Auto Workers.

James Gartland, the former manager of a dog track in Kansas, has been charged with permitting patrons to bet without paying. Reportedly Gartland was arrested in Florida.

Landry’s Restaurants Inc. (LNY) has notified the Securities and Exchange Commission that it had arranged with its bondholders to reinstate its 7.5% notes with a new interest rate of 9.5%.

Culinary workers at MGM MIRAGE Inc. (MGM) have ratified a five- contract.

The Viejas Band of Kumeyaay Indians, that has successfully operated a major casino in Alpine, Cal., about 35 miles from San Diego, announced it plans to build an $800 million casino-hotel resort just east of its current property.

PokerTek Inc. (PTEK) said it had placed its CFO Christopher Daniels on leave while it investigates the allegation that he had used corporate credit cards for personal items.

Macau gaming mogul Stanley Ho, who operates some 16 casinos in that Chinese enclave, reportedly is in talks to sell his Seng Heng Bank to Industrial and Commercial Bank of China Ltd., that country’s largest bank.