The goal of the forbearance policy is simply, “If the borrower and lender agree as to the ultimate best outcome, and both are acting in good faith, then utilizing a forbearance agreement and coming up with a revised plan for payment of the most amount of money the lender is willing to see in return out of a variety of scenarios, that can be beneficial to all parties,” said Fearon. “Without agreeing to forbearance, you either then force the hand of filing for bankruptcy before you or the borrowers had the opportunity to explore all avenues.”

According to Mel Jameson, associate dean in the finance school at University of Nevada, this option gives all parties a chance to assess the value of the company if it is in fact forced into bankruptcy.

“A previously prized borrower that once could dictate terms to its lender likely will find itself with fewer options when facing a default and will be forced to work with its existing lender to obtain a waiver or a forbearance agreement,” stated one article.

“The company has told the lenders they can accomplish something within a certain period that will make the lenders satisfied to either waive the previous default or be able to get out of the loan,” said Unterberg, co-author of an article about forbearance agreements in the Texas Lawyer journal. “Forbearance agreements are usually a way to allow a borrower to facilitate what they’re promising the bank to do with the bank having a short fuse on their ability to get it done.”

This form of business is risky and is not without its flaws if not handled correctly.

“You may be put in a situation where something that previously looked unattractive becomes the best alternative or acceptable,” he said. “You can’t use coercion for something like that.”

“It’s mainly just a business matter,” Jameson said of forbearance agreements. “Yes, (the creditors) have the right to put them into bankruptcy, but the creditors are thinking the way things are now, we just might as well string them along for a little while thinking you’ll get more of a return on the bonds that way. It’s all part of the negotiation.”

Many casinos are facing the same fate as the economy continues to go south, and the threat of bankruptcy continues to increase. For many casinos, this threat is an overhanging, nagging fear that has caused operators to be the big dog on a short leash.

It would appear that at this point in the year, many of those companies would have filed for bankruptcy and pulled themselves from the market. This however is not the case as companies still continue to hang on, even after their time has expired.

The trick of it all is how the casino companies are managing to avoid the inevitable. Companies like Station Casinos are on their second forbearance which is looking like there may be a possibility of a third.

In the beginning of this year, Station Casinos was leaning towards a prepackaged bankruptcy plan with bond holders and the selling of land around the resorts. Now their bankruptcy filing has been pushed back to May 15^th, where they will most likely try for another pushback in order to gather more time.

These forbearance agreements are becoming more popular with casino resorts that are struggling to stay alive. Black Gaming is another company that is currently running under a forbearance contract with the hope that the lenders will be willing to renegotiate.

Another company, Herbst gaming was able to escape filing chapter 11 for 10 months while they continued to ush forward their forbearance contracts.

According to Diane Fearon, CEO for the Bank of George, this is a way for the casinos to create a restructuring of their company without incurring extras costs.

The problem seems to be that these companies are not restructuring in a way that allows them to pay off their debt before being completely consumed by it. The plan with the forbearance is to prevent the court bankruptcy fight since neither side can be 100 % positive of the courts outcome.

The Copenhagen Post launched a press release stating, “A 60-year gaming monopoly operated by state-owned Danske Spil is set to be terminated when the government announces its plans for deregulation on Tuesday.”The European market has been leading the way with online casinos and gambling giants, and by breaking up this monopoly, many competitors can tap into the open market and try their hand at winning over some more players.

“A current European Commission lawsuit alleging the monopoly violates free market regulations was a major factor in pressuring the government into the move.”

The pressure of this lawsuit will be supported by many markets within the gaming industry since the destruction of this long term monopoly will allow a more diverse and accessible market.

“Deregulation would mean that foreign gaming companies could begin advertising in Denmark and their gambling contests would be legally available for purchase. According to Jyllands-Posten newspaper’s information, only the Lotto and scratch-off ticket games will continue to be under the sole jurisdiction of Danske Spil.”

“But entry into the Danish gaming market would not be free, as companies would have to pay a licensing fee to the state to be allowed access. The government will include the fee – along with measures to prevent gambling addiction – into its proposal, which would still ensure that a tidy sum goes into the state’s coffers.”

The government will continue to benefit by opening its doors and charging for new companies to expand into the Denmark online market.

“Last year nearly 11 billion kroner was spent on gaming nationwide, with state profits of 2.8 billion kroner. Around 1.6 billion of that went toward charitable and youth organisations…”

Station Casinos is in an uproar concerning trademark infringements by internet companies. These online companies have taken liberties with the trademarks of four of the Station Casinos Las Vegas casinos.

The two online companies, Susana Gonzales and Smart Answer have been included in the lawsuit filed by Station Casinos for their infringement.

The defendant for Susana Gonzales is a woman living out of Panama who has also been sued before by MGM Mirage for similar circumstances. The MGM Mirage won the suit for $2.2 million for trademark infringement based on the Bellagio, Circus Circus, Mandalay Bay, New York-New York and Treasure Island.

Currently Jason Firth, an intellectual property attorney is filing on Station Casinos behalf, as he did for MGM before. He was successful in transferring the infringing domain names, and now he is considering two cases for Station Casinos and the Tropicana.

These international disputes involve the use of three major casinos of the Station casino brand. These sites have been named “boulderstation,” “sunsetstation” and “palacestation” which resemble Station Casinos three locations named: Boulder, Sunset and Palace Station.

According to Firth, these casinos are using the names by “cybersquatting” and redirecting traffic to ad supported sites. This goes against the states laws which dictate that the websites can’t use deceptive trade practices.

“Defendants’ actions have disrupted or are intended to disrupt plaintiff’s business by, among other things, diverting web users away from plaintiffs’ Web sites and to the online gambling Web site defendants linked to the infringing domain names,” Station alleged.

“Defendants knowingly made false representations as to an affiliation, connection and/or association with plaintiff by using marks identical and/or confusingly similar to plaintiff’s marks and otherwise engaged in deceptive trade practices,” Station’s suit said.

Another suit has recently been filed against a company in Antigua who is using the online website “Golden Palace” which allegedly infringes upon the Texas Station trademark provided by Station Casinos.

The casino industry has been thrashed by the economy, and many employees have lost their jobs. Such is the case for an unemployed casino veteran, but his spirit and drive have given him renewed hope.

Brian Decorah recently became unemployed from the casino business, so he began to open his own website, featuring jobs for those in the casino business. Currently the site has 5,291 jobs available at http://www.AllCasinoJobsONLINE.com.

This site is updated weekly to give casino workers the most up to date postings. Decorah began as a gaming executive who recently found himself unemployed through an Arizona Casino. Hes loss of a job came as a sudden shock after he was flown out to Arizona from New York to stat his position. Seven months later he found himself back out on the pavement.

“I was unaware that my job may be in jeopardy,” stated Decorah. “The Board of Directors, the Tribal Council and their Gaming Commission had nothing but positive feedback and genuine appreciation for the job I was doing, but the General Manager surprised everyone by letting me go.”

Decorah began to work on this site and now has 764 gaming operations spread out through 34 states. This service is free for the public to search for jobs, and for a special $19.95 casino employees seeking jobs can actually target specific markets.

Along with his wife, Brian gathers all the public notices for casinos and posts them to his website. “It takes a full day to do the work, but right now, I have the time,” said Brian, “The workers need to know where the jobs are, and even the casinos are trying to save money on recruiting costs these days. This website helps everyone.”

According to a press release by the Union Leader in Salem New Hampshire, “Descriptions of the impact that expanded gambling had in western Pennsylvania didn’t do much to change Howie Zindel’s mind about attempts to bring video slots to the Rockingham Park racetrack.”

The fear of the residents is that gambling and video poker will have a negative effect on the community. The fear of bringing in such an institution brings new problems to the people. Not only are the people within the community afraid of what it does to the locals, they also fear what kind of a draw they could get from neighboring cities.

“’Have you gentlemen gone up to Concord? I think you’re preaching to the converted here’ Zindel, president of the local Kiwanis Club, told government and business leaders brought from Washington County, Pa., for a forum last night.”

“Millennium Gaming, which holds the option to purchase Rockingham Park if New Hampshire allows for expanded gambling, hosted the discussion in an attempt to quell concerns that a facility with video slot machines would bring with it addiction, crime, home foreclosures and be bad for local restaurants.”

“Lawrence Maggie, commissioner of southwestern Pennsylvania county — home to a combination casino and racetrack owned by Millennium Gaming — and Jeff Kotula, president of the Washington County Chamber of Commerce, told Salem residents that expanded gambling had lowered taxes and brought in roughly $1 billion in development, without negatively affecting the quality of life.”

The fear of individuals in the community about the insertion of video game gambling slots overshadows the benefits that gambling could bring to the community. This day and age, video slots have brought a tremendous amount of income to poorer communities and allowed for the building of stadiums, parks and educational programs within select communities.

Slotland.com is back on the map again this week as they continue to expand their online network. Eyeview recently sighned a deal with Slotland that will implement the restructuring of the site to gear up for Three Dimensional gambling.

The video conversion system through Eyeview will bring Slotland into direct competition with other companies such as William Hill and 888.

“The Video Conversion Solution is proving a hit with online gaming firms as the steady stream of new customers demonstrates,” said Tal Riesenfeld, Vice-President Of Marketing for EyeView.

Currently, WinADay offers casino games such as video poker and slots, as well as the newly integrated virtual casino employees.

“We have managed to secure some heavyweight gaming brands since the start of 2009 who benefit from the ongoing A/B testing, conversion tracking and ongoing optimisation provided by our experts and technology. Online video is one of the most powerful communication tools when used in the right manner and EyeView provides the full video solution turning gaming companies’ conversion goals into a reality.”

“Our three-dimensional casino environment provides a completely unique experience for players,” said Ondrej Tuma from WinADay.com.

“The welcome video that Eye View will be producing for us will engage new players the second they walk through the door and will be an important part of the experience.”

This technology has expanded the number of users to online casino sites as it draws on more sense and becomes a virtual experience for the player. With virtual lobbies and virtual employees they bring the feel and the look of a landbased casino right to the player at home.

GameAccount has recently signed a white-label deal with Players Gaming and Leisure. GameAccount, a skill-based gaming software, that is regulated by the UIGEA for non-US accounts will include many of their featured games.

These games include dominoes, multi-player blackjack and backgammon which can be found at GrandCasinoWorld.com and DominoWorld.com.

“We expect this relationship to be fruitful for both parties,” said Per Petersen, Marketing Director for GameAccount.

The ‘white-label’ agreement will be for a trial period of two years as GameAccount continues to expand throughout the Asain and South American Markets. The European based company hopes to continue its expansion through the use of the online operator Players Gaming and Leisure, based out of Milwaukee.

Through the ‘white label’ contract the companies will attempt to drive traffic to the two sites, GrandCasinoWorld.com and DominoWorld.com.

“For our first foray back into white-label skill games provision for over two years, Players Gaming And Leisure is the ideal partner. After recent deals that have seen an increase in our European presence, we are looking forward to pushing our popular skill games further afield.”

“We are very pleased to be joining forces with a company of GameAccount’s skill gaming expertise and knowledge and look forward to venturing together into the promising markets of Asia and South America,” said Henry Leong, President for Players Gaming And Leisure.

According to the Players Gaming And Leisure website, their purpose is, “As consultants, we use our vast industry networks to link the right companies to enhance growth and opportunity. As marketers, we provide a range of traditional and innovative solutions for our clients to build brand image and increase revenues. Our sales team works to promote our services and establish client rapport.”

Both of these companies can benefit from the other’s use of their specific markets in an attempt to expand into future markets. GameAccount will be in charge of the software and the support while Players Gaming and Leisure will be in charge of all the marketing and acquisitions of new members.

PartyGaming has released that the first quarter of 2009 had a 22 percent drop in revenue. This is the fourth consecutive quarter that Partygaming has seen a decline in revenue.

PartyGaming has faced many situations in the past ear resulting in a settlement for $105 million with the US courts. After this court case, and throughout the process, PartyGaming has suffgered losses with their poker games, as well as their bingo games.

Although the company has taken a hit in the revealing of it past four quarter decline, they also are pulling through by showing daily increases.

“Total net revenues grew by two percent on a daily basis to $1,111,800 versus the previous quarter despite continued competitive pressures in poker, further strengthening of the US dollar and a weak macroeconomic environment all continuing to impact performance,” said Jim Ryan, Chief Executive Officer for PartyGaming.

The partnership between Partygaming and Intralot have helped bridge some of the gaps and put them on track for future benefits.

Tasmania, Australia has been an active force in the online casino market. Recently a bill for the sale of Tasmania’s Tote operation has been tabled while waiting for parliament approval.

Michael Aird, the state’s Treasurer, revealed that there are amendments being proposed to the Gaming Control Act from 1993 as well as the Tote Tasmania Sale Bill.

“Tasmania is already highly regarded in the global gaming market and is well recognised internationally for its probity standards and regulatory framework,” said Aird.

“The legislation tabled today is necessary in the interests of probity and consumer protection and will enhance Tasmania’s regulatory system even further.”

If the bill is passed it will allow the new operator a 15 year exclusive license to operate within the state.

“The Government has made a commitment to fund the Tasmanian racing industry separately under a legally binding deed,” said Aird.

“This will provide the most secure funding structure in Australia and create certainty for the industry.

Aird, the current Minister for Racing, is interested in bringing the legislation all under the same regulations. Through this action, the sale should be of interest by the foreign markets, namely Asia, and can be regulated through Australia.

The strong pull of the Asian market has led many countries to cater to them and encourage their participation in the gambling markets.

“The legislation tabled today is designed to attract new offshore and domestic investment in Tasmania and create jobs which will benefit the economy.” Many markets are moving in this direction in order to provide employment in a declining market, but are stifled by bans. Such is the case in the United States where gambling laws are strict and preventing the creation of new casinos and online gambling.

“The reforms will further enhance its value and increase its appeal to potential buyers both outside and inside Australia,” said Aird.