Casino industry news bites for the week of March 10

Mar 10, 2009 3:59 PM
The Insider by Ray Poirier | Minnesota, fearing the loss of their Vikings NFL football team, may decide to build a casino to fund a new football stadium. If lawmakers agree, a constitutional amendment could end up on the November, 2010, ballot.

The impact of the global economic slowdown has caused Atlantic City casinos to reduce the number of freebies offered to customers. Total "comps" reportedly have fallen by 5 percent.

Also in Atlantic City, the first casino to open on the Boardwalk, Resorts Atlantic City, is trying to avoid bankruptcy but finds that its principal lender has been given the authority to begin foreclosure proceedings.

Members of the House of Representatives in New Hampshire have killed two bills that would allow slot machines. One bill died by a vote of 334-35 while the other was killed by vote of 295-72.

A gaming analyst with KeyBanc Capital Markets has reduced his estimate of first quarter profit to $0.06 per share from the previous $0.17 per share for Wynn Resorts Ltd. (WYNN).

Las Vegas Sands Corp. (LVS) says it will open its new casino in Allentown, Pennsylvania, on May 22.