FROM GT STAFF / WIRE REPORTS
Granted the statement came at the Southern Gaming Summit last week on the Mississippi Gulf Coast, but hearing that Biloxi was more attractive than Atlantic City had to impact the New Jersey coastal resort.
"You can’t go to Atlantic City on an impulse," said Larry Klatzkin, gambling and leisure analyst for Jeffries & Co. "Sixty percent of those hotel rooms they give away to gamblers. They need 10,000 more rooms to become a destination."
Klatzkin and Deutche Bank rep Joel Simkins, told the Biloxi Sun Herald that they don’t think discussions of moving Gulf Coast casinos onto land will have much of an impact on the market.
"If you’re in Grand Casino or Beau Rivage, you don’t know whether or not you’re on water or land," Klatzkin said.
Magna-fied plan for Md
Magna Entertainment unveiled the first phase of an overall plan to rebuild Pimlico and Laurel Park from the ground up.
Bloodhorse.com reported that the project includes new grandstands, racing surface and stable areas at a cost of $46 million.
Jim McAlpine, president of Magna, said the improvements to the stables at Laurel would be completed by December 2005. After that, McAlpine indicated the rest of project begin at Laurel and then Pimlico would be overhauled.
"If slots don’t come, this stands," he said. "If they do come, that speeds the project."
Monticello in limboDon’t blame Monticello Raceway for being frustrated at the New York political system, which has again placed a possible $500 million casino in doubt.
New York Gov. George Pataki has promised not to go ahead with a deal for a new American Indian casino only 90 miles from the Big Apple until a court decides whether the state constitution bars casinos.
Las Vegas-based Park Place Entertainment would run the new resort, which would compete with tribal casinos in Connecticut and for-profit resorts in Atlantic City.
ALSO: A bill that could generate millions of dollars in revenues for Illinois through gaming expansion was approved 8-2 by the House Gaming Committee”¦ The Seattle Times reports that state casinos are on hold after a $36 million tribal loan was withdrawn.