Casino industry news bites for the week of Feb. 24

Feb 24, 2009 5:01 PM
The Insider by Ray Poirier | PokerTek Inc. (PTEK) reported that it lost $1.6 million or $0.16 per share during the fourth quarter that ended on Dec. 31, 2008. This was an improvement from last year when the loss was $7.6 million or $0.70 per share.

Mayor Shirley Franklin of Atlanta, Georgia, has thrown her support behind plans for a lottery-tied casino at the downtown entertainment complex. The casino is being proposed by Dover Downs Gaming & Entertainment Inc. (DDE).

Gaming analysts at JP Morgan has raised their rating on WMS Industries Inc. (WMS) from to "neutral" from "underweight."

As indicated in last week’s issue of GamingToday, South Carolina Judge Larry Duffy has ruled that Texas Hold’em is a card game of skill and not chance, thus it does not violate the state’s law against gambling.

Billionaire owner Carl Icahn, former owner of the Stratosphere Casino in Las Vegas, reportedly is considering bidding for the defunct Tropicana Casino & Resort in Atlantic City.

Jerry Campbell has resigned as a director of Magna Entertainment Corp. (MECA).

The Nasdaq stock market has notified both Progressive Gaming International Corp. (PGIC) and Trump Entertainment Holdings Corp. (TRMP) that they will be delisted shortly.

The Indiana House has passed a bill to ban smoking in many public places but casinos and bars have been exempted.

Louisiana casinos continued to defy national trends in January and reported a gain in revenue. State gaming regulators said riverboats won $152.7 million, a 12% jump over the previous January while the race track casinos took in $37.6 million, more than 20% higher than a year ago. The only decline was experienced by Harrah’s New Orleans Casino which was down 2%.

The $175 million permanent slots casino at The Meadows Racetrack in Pennsylvania will open in mid-April. Owners Bill Paulos and Bill Wortman plan to begin test operation on April 13. The new facility will have 3,700 machines and will offer more amenities than the temporary facility.