Casino Industry Insider news bites - 12-08-2009

Dec 8, 2009 1:56 AM
The Insider by Ray Poirier |

According to the Delaware News, betting on football games in the state has produced just over $810,000 for the state during the first three months of operation. Supporters had projected $500,000 for the first quarter.

President Barack Obama indicated over the weekend, in answer to a town hall question, that he is opposed to the legalization of gambling to stimulate the economy or create jobs.

Boyd Gaming Corp. (BYD) has appointed Ellie J. Bowdish as vice president and chief accounting officer of the company.

Butler National Corporation (BUKS) says it will open the Boot Hill Casino and Resort in Dodge City, Kansas, by mid-month.

The Reno-Sparks Convention and Visitors Authority said it is making drastic budgetary cuts because of a $1 million drop in revenues. Included in the cut was the elimination of seven full-time positions.

Full House Resorts Inc. (FLL) announced it has paid off the remaining $775,000 balance on the revolving loan it has with Nevada State Bank.

Gaming Partners International Corporation (GPIC) has declared a special cash dividend of $0.125 per share to be paid Dec. 27 to shareholders of record on Dec. 14.

Landry’s Restaurants Inc. (LNY) reported it had refinanced its debt of $642 million.

Moody’s Investor Services has confirmed its junk bond ratings for the debt of Las Vegas Sands Corp. (LVS) and has assigned a negative outlook to the debt.

Nevada Gold & Casinos Inc. (UWN) will announce its second quarter 2010 financial results on Thursday, Dec. 10, at 2 p.m. PDT.

Illinois Gov. Pat Quinn said he believes the state legislature should consider the idea of approving video lottery terminals for the state’s racetracks.

Pinnacle Entertainment Inc. (PNK) has begun taking employment applications for its new facility in St. Louis, Missouri. The company expects to hire some 1,000 employees.

The online gambling site BetOnSports has been fined $28.2 million by a federal judge in St. Louis, Missouri. However, the company indicated that it has more liabilities than assets and the fine probably will never be paid.

Foxwoods Casino, licensed in Pennsylvania to build a slots parlor in the Philadelphia area, has asked officials for an extension until March 1 to produce an operating plan.

Question? Comment? E-mail me at: Ray Poirier