The Casino Industry Insider - May 27, 2008

May 27, 2008 7:00 PM

by Ray Poirier | THE INSIDER: Because of declining revenues, the Mashantucket Pequot Tribal Nation is cutting 20% of its government work force through buyouts and a small number of layoffs. The tribe operates Foxwoods Casino in Connecticut.

International Game Technology (IGT) will pay its regular quarterly dividend of $0.14 per share on July 1 to shareholders of record on June 11.

Through a new gaming tax formula, Colorado casinos with revenue between $4 million and $15 million will save about $80,000 a year in taxes.

Detroit businessman Don Barden said his company, PITG Gaming LLC, had secured the final loan commitment needed to fully fund his slots casino in Pittsburgh, Pennsylvania.

Ameristar Casinos Inc. (ASCA) has opened its newly expanded casino in Vicksburg, Mississippi.

Progressive Gaming International Inc. (PGIC) says it has received approval from Nevada regulators for its Casinolink Jackpot System.

A Canadian company is investing $4.2 billion to build a casino resort in southern Vietnam. Although gambling is banned in Vietnam, the government allows foreigners to gamble at several casinos that have popped up around the country.