Casino industry news bites for the week of March 31

Mar 31, 2009 5:05 PM
The Insider by Ray Poirier |

Both the NCAA and the NFL are pressuring Delaware Gov. Jack Markell to cancel his plans to implement sports betting in that state.

Officials of SugarHouse Casino in Philadelphia had to go to the Pennsylvania Supreme Court to force city officials to grant them a construction permit. But opponents say the casino still faces tough sledding before the casino can be built.

An Alabama judge has ruled that a charity’s slot machines were impounded by the Governor’s Task Force on Illegal Gambling illegally and must be returned. He also prohibited further task force raids on the White Hall gambling center.

Harrah’s Entertainment Inc. has extended the time frame for its proposed tender of $5.4 billion in old bonds.

TJ Matthews, the recently resigned CEO of International Game Technology (IGT) is expected to remain with the company as chairman for the remainder of the year, according to analysts.

Singapore visitor count for the month of February fell 15.2% when compared with a year ago, say tourist officials.

Wynn Resorts Ltd. (WYNN) has extended the employment agreement with John Strzemp, executive vice president and chief administrative officer to March 31, 2013 with a base salary of $650,000.

PokerTek Inc. (PTEK) has announced the opening of all PokerPro room at Hoosier Park Racing and Casino in Anderson, Indiana.

Bruce Howard has been named senior vice president and general manager of the Ameristar Casino Hotel in Vicksburg, Mississippi.

Language on a proposed referendum calling for four casinos to be built in Ohio has been rejected by the state’s attorney general. He said the wording on the proposed constitutional amendment was not a fair and truthful summary of the plan.

Magna Entertainment Corp. (MECA) says that since it is operating under a "debtor in possession" status it will not file its 2008 annual report or any quarterly reports with the SEC.

Steve Kent, gaming analyst at Goldman Sachs, recently raised earnings estimates for WMS Industries (WMS) and increased his price target for the stock to $25 from $22.50.

A committee of the Nevada Assembly has endorsed a plan for a state lottery. The plan is strongly opposed by both gaming and tavern interests.

Developer Preston Schell has announced plans for a racino operation near Millsboro, Delaware. The plan calls for a $550 million project that would include a harness racing track with slot machines, as well as a hotel and retail activity.