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The Casino Industry Insider - 07-22-2008

Jul 22, 2008 7:00 PM

The Insider by Ray Poirier | THE INSIDER: Soleil analysts have initiated coverage of Bally Technologies Inc. (BYI) with a "buy" rating.

The dormant 10th Illinois riverboat gaming license will soon become available. The Illinois Gaming Board said it is preparing to accept applications for the unused gaming license that was once held by bankrupt Emerald Casino.

Magna Entertainment Corp. (MECA) says it has sold its closed thoroughbred horse track in Muskegon, Michigan, for $7 million to the Little River Band of Ottawa Indians who plan to build a casino on the property.

June gaming revenues in Louisiana fell to $214.1 million from last year’s $219.6 million.

The first casino to be built in New Brunswick, Canada, will be a $90 million facility that will house 600 slot machines and 20 table games, according to builder Sonco Gaming of New Brunswick.

Negotiations are continuing between the U.S. and Antigua in an effort to resolve an Internet gambling dispute that resulted in the World Trade Organization saying Antigua can impose a $21 million trade sanction against the U.S.

Working with the Race Track Chaplaincy of Americas, the Mountaineer Casino, Racetrack & Resort, owned by MTG Group Inc. (MNTG), will open a new chapel inside a newly-constructed recreation hall at the Chester, West Virginia, racetrack.