Casino Industry Insider news bites - 04-07-09

Apr 7, 2009 5:07 PM
Industry Insider by Ray Poirier |

Reports over the weekend indicated that Colony Capital LLC is considering making a financial investment in MGM MIRAGE Inc. The situation was described as "fluid" with no details forthcoming.

A report in the Wall Street Journal that James Packer’s Crown Resorts of Australia was looking to make an investment in MGM’s CityCenter was denied by company officials over the weekend.

Looking to find an attraction for old customers, Resorts Atlantic City has installed eight slot machines that pay off in coins rather than vouchers.

WMS Industries Inc. (WMS) says it will make its fiscal quarterly report on Tuesday, April 21, at l:30 p.m. PDT. Reporting on Thursday, April 23, at 4 a.m. PDT will be Penn National Gaming Inc. (PENN).

A re-worded casino referendum petition has been approved by the attorney general of Ohio. The original petition had been rejected.

The 11 casinos in Atlantic City reported a net loss of $1.05 billion for calendar year 2008, according to New Jersey gaming officials.

David Cordish, whose firm already holds a slots license for Anne Arundel County in Maryland, says he plans to bid on the horse tracks when Laurel and Pimlico are put up for auction.

Racing at The Meadows Racetrack & Casino in Houston, Pennsylvania, will be suspended for two weeks while the finishing touches are placed on a $174 million slots casino owned by partners Bill Paulos and Bill Wortman of Las Vegas.

Billionaire Carl Icahn, former owner of several Las Vegas casinos, has bid $200 million for the bankrupt Tropicana Hotel/Casino in Atlantic City.