Station Casinos Files Reorganization Plan

Author: Chris  //  Category: Casino Games

The Station Casino Group has been under a lot of stress as of late. With the struggling economic situation in the United States almost all casinos and casino hotels have been feeling a pinch. All have had to find a way to cut costs while also dropping room rates. Some have filed for Chapter 11 Bankruptcy. Sadly, some have had to close their doors all together.

Meanwhile, back to Station Casinos. A supervised sale of the Station Casinos properties was set to be held, but the idea may be put on hold as the casino group announced a reorganization plan that could break up the group.

Station Casinos has come up with a plan that would form a new holding company that wold be owned by the Fertitta brothers, Frank and Lorenzo, lenders, and Colony Capital, a real estate investment firm from Los Angles. The Fertitta brothers new company, Fertitta Gaming, would own 46 percent of the $200 million in equity in the four casinos for $85.6 million. They would also be the holding company’s largest shareholder. The investment banks combined would owned 50 percent. Fertitta Gaming would be the operators of the casinos under a 25 year management contract. The rest of Station Casinos’ properties would be sold by a Nevada court in order to take care of bondholders and the other lenders.

Casino groups have been lining up like vultures to take advantage of the Station Casino sell off. Regional casino companies like Penn National Gaming and Isle of Capri Casinos have expressed their interests in the properties. That would give them a stake in the Las Vegas casino hotel market.

Station Casinos believes the assets that are up for sale could be sold as one item. It would all depend on what the bankruptcy judge feels would be able to fetch the most for the lenders who are owed money. The current filing grants Station Casinos 60 days to amend the reorganization plan.

Vegas Casino to Offer Classic Slot Room

Author: Chris  //  Category: Las Vegas Casinos

There is a song that states, “Everything old is new again!” Truer words were never spoken. Everyone the world over loves the retro. You can see it in the sports world. Teams and leagues often have throwback days where the teams where the old uniforms. Radio station and dance clubs have segments and nights dedicated to music from the 1940’s to the 1980’s. I have been in arcades that feature old original video games like Pac Man, Dig-Dug, and Donkey Kong. There is even a whole film festival in Hollywood dedicated to showing classic films and hosting old time Hollywood parties. This idea holds true for gambling enthusiasts too. Some gamblers yearn for the old days before high tech slot machines. Some just want the fun and experience of something classic.

The Eastside Cannery Casino and Hotel in Las Vegas knows just how to appeal to those gamblers looking for the good old days. They have recently announced they are launching an entire room dedicated to the classic slot machine. The Classic Slot Room is located right next to the poker room at the Eastside Cannery Casino and Hotel. Much like the video arcade, the new Classic Slot Room will feature slots from the 1980’s and early 1990’s. For those who miss dropping the coin in the slot and hearing the change hit the tray when they win, this room is for them. All the slot machines will be coin operated.

There will be 56 slot machines in the casino’s Classic Slot Room. These machines will also include video poker favorites from the time period. The Eastside Cannery Casino and Hotel is considered a locals favorite. Many of their loyal customers were fans of the sites old Nevada Palace Casino. Thus they remember and love the classic casino feel. The Eastside Cannery Casino and Hotel hopes you will head over with nickels, dimes, and quarters, grab one of those buckets and walk out having won a jackpot.

CityCenter Casino Complex Being SUed.

Author: Chris  //  Category: Casino Games

The CityCenter has enjoyed a few months of good positive feedback from the press since its grand opening. The once doomed project was going to bring casinos and hotel to the Las Vegas Strip and change the way people went about accommodating and gambling. Now it is being gawked at for the billions of dollars that were spent in opening the three major hotels associated with it, but the newest news brings them to court once again to settle a dispute.

The Perini Building Company has been in charge of the construction on the CityCenter since its inception but now they are filing a major lawsuit against them due to the fact that there has been a lot of work done without being paid on the project. So far over $492 million has been unpaid for the construction of the buildings. The lawsuit will go against the MGM Mirage who has already seen many court dates with the building of the property and the prevention of going into foreclosure. As the property was under construction, the MGM Mirage was battling with Dubai World over the cost of creating the new venue.

Eventually The CityCenter was able to resolve the issues with Dubai World and get back on track with the payments, but unfortunately for the MGM Hotel and Casino company they had to shell out quite a bit of money before all was resolved.

Right now the issue with the contractors is with the numerous changes that have been made by the MGM Mirage casino company for the contractors. It has been estimated that the growth in cost of construction has now risen from $3.5 billion to $6.8 billion. This has caused some major concerns on the part of the subcontractors. The contractors have stated that the gambling company even delivered their changes from 132 to 150 days late which was way after the apparent agreement had been settled.

Station Casino Points Are Still Valuable

Author: Chris  //  Category: Online Casino News

Station Casinos has undergone some serious changes in the past few years. The economy has hit hard forcing the once large gambling company into filing a chapter 11 bankruptcy. Now that they are beginning to restructure, they are hearing concerns from their customers about their online points that they have accumulated through gambling at the casinos. Some of the customers have been raking in points since before the Station Casinos take over in 2000.

One online customer, that is a Las Vegas resident has brought in nearly 1.5 million points through his rewards cards throughout the years and does not want to lose them. The gambling company has been assuring their customers that there will be nothing happening with the points so that the customers have nothing to worry about. Some people were still worried, so they had this verified by the company spokesperson, as well as an expert on players club rewards points and a Nevada Gambling regulator.

The gamblers from the casinos have been accumulating these points for many years and they are now able to use them as tokens to receive dinners and other such benefits through the casino. It is a great way to take friends and expose them to the casino life and all it has to offer. It is these types of strategies that bring in many customers, so Station casinos will be doing its best to hang on to these rewards points customers as they are clearly repeat customers that are adding to the overall revenue of the casinos.

Lori Nelson, a spokesperson for the casinos has gone one step further in putting the customers minds to rest by stating, “It’s been absolutely important to let our guests know that there are no changes to the Boarding Pass or Amigo Club programs while we work through the process.” The truth of the matter is that the casinos can take away the points and do so legally, but it will severly harm their reputation and could reverse years of marketing and advertising.

Planet23 Casino Offers More Slots

Author: Chris  //  Category: Las Vegas Casinos

Planet23 has sent out a new press release touting their variety of online gambling slots. This casino has been using Rival software which makes it one of the top online offerings of casino games. Some of the more popular games include the traditional casino games like craps, roulette, mah jong, keno, Pai Gow, Baccarat and poker. Rival has introduced their platform to this casino making the games more user-friendly for the online players.

Along with the plethora of games offered at the online site, there are also many bonuses and promotions. In addition to their regular online gambling bonuses they offer a MEGA bonus pack to their guests. They are catering to the newcomer so that the welcome bonuses will stand out, then their additional player bonuses will keep them interested. One of the first bonuses offered to the new online gamers is worth $5000, and they can win further bonuses worth up to $4000 in cash.

Since the variety of players is larger than that of the games, for online gambling, the site is offering small tournaments and weekend specials to hold their interest. Along with their games are fast ways to make payments to the site. Ewallet Xpress is one of their top providers for online banking transactions.

The online gambling company has been going strong since 1999 and continues to up the ante by adding more games to their library. They are even offering their services in a variety of languages. Right now they are servicing in English, French, Italian, Spanish, ans one day in the near future they will be providing Dutch and German. Since they offer the different languages they are also providing different currencies for exchange. Online players at this point can covert their money in Euros, American Dollars, Pounds, South African Rand in order to participate.

Estonia Gets Serious About Local Gambling

Author: Chris  //  Category: Casino Games

Estonia has passed many regulations to start up their online gambling networks. In order to keep their local customers and provide them with some special privileges they are preventing all off shore online gambling providers until 2011. At that point the will be opening up their entire online gambling situation to the entire world and inviting in offshore gambling providers. To go along with these regulations, Estonia and the European Union have developed a blacklist of providers that are not allowed to even apply for licensing through Estonia.

The plan to regulate these online gambling sites sounds like a good one at the onset, however, with the diminished economic standing in Estonia, they are cutting out a large majority of profits that they could bring in through taxing the online gambling revenue. The blacklisting of sites may also come into effect depending on how favorable the people are with staying inside the boundaries that are set forth by the new rules and regulations.

There will be a large learning curve to this process as they continue to go through and streamline the online gambling sites. and it will also be interesting to see how successful the Tax and Customs Board is at blocking the illegal and black listed sites. In the past most of the countries that have tried to push out illegal or offshore casino sites have not been successful in regulating the market. With the internet being such a new item, there are many ways for companies to slide in under the radar, and it could literally take years to get the point where they could stop these companies.

Online casino gambling in the UNited States has been successful in bringing down some of the online gambling sites, but there is no way of telling how many other sites are out there in the ether that are still participating in the illegal activities. For now, these regulations will at least keep some companies away until at least one year when they may be invited back to return to the online world.

NASCAR Gambling Ring Is Halted

Author: Chris  //  Category: Online Casino News

NASCAR racing is one of the most popular sporting events in the United States. This type of live event draws in spectators from all over the country to watch some of their favorite drivers. The rush of the cars flying past them in the stands is what makes the event so exciting. That is why a 54 year old man decided to being to take online orders for gambling on these types of events. The man was David B. of Spokane Valley in Washington.

The police arrested David under the suspicion that he was running an online gambling ring for NASCAR Races. Washington is no joke when it comes to upholding the laws of the government and that is why his house was raided and the online gambling ring shut down. Of course there is speculation that the United States will one day embrace online gambling, but for now, the sport is illegal and many people trying to run underground gambling circles are finding out the hard way.

The online gambling website that was shut down was known as the Fantasy Thunder and allegedly has been running this type of gambling for over ten years. The chances that the site would have never been found out were pretty good until customers began complaining about not being reimbursed from the online site. This tipped off the officials and led to the investigation which ended up shutting them down. Now facing second degree felony charges, Watkins will prepare to defend himself in the court system and they are not likely to be lenient.

Had Watkins not ran into financial trouble and been able to pay out to the gambling public he likely would be running business as usual, but instead will be shut down and locked down for quite some time. Those who participated in the website seem to be skirting around the law as lawmakers have decided not to go after these individual gambelers. They seem happy enough to know they are stopping the person in charge.

Washington Congressman is Pro Online Gambling

Author: Chris  //  Category: Las Vegas Casinos

Washington is a prime place for opposing sides of issues. That is why it has sent the issue of online casino gambling back and forth like a ping pong match. With the illegal activity of online gambling being scrutinized these days it is hard to feel that there is any positive energy being thrown towards the process of legalizing gambling. Now, however, Jim McDermott, a Democrat Representative from the seventh District is starting to really push in the opposing direction towards online gambling.

According to his statement made to the Seattle Weekly, the congressman is working hard at moving forward on the legalization of online casino gambling for real money. This would solve some of the financial problems that are happening in the economy today as well as benefit the government with tax revenues being generated. He also wants to use the funds for foster care programs throughout the states. These types of plans are similar to what many states did with the state lotteries in using them for various portions of helping the education systems. Some of these states were more successful in implementation than others, but the money that is helping is bringing books, computers and supplies to many schools in need.

Now that McDermott has taken a new spin on where the funds will be allocated for online gambling there is a chance that these government officials will see the more sensitive side of gambling and possibly find a way to put it through. There have been many attempts at getting this passed, and maybe by appealing to a softer side this bill could have a chance. Online gambling sites such as pokernewsdaily is touting Jim McDermott as one of “the four horseman of the internet gambling revolution.” The challenge will still be to get past all of the religious leaders that so vehemently are against gambling in order to move forward and achieve any real progress in the world of online casino gambling legality.

Italian Gambling Goes Under The Microscope For Fixed Matches

Author: Chris  //  Category: Casino Games

The Italian gambling market is reaching its peak as they continually expand their network of gambling offerings. Lately many casino brands from other countries have been buying their way into the market which is making it one of the fastest growing in the world. The problems that come with building up a gaming market such as this so fast is that not all the loopholes are covered up by the regulations that are initially put in place. That is what Italy is finding out now as the underground gambling is beginning to seep into the everyday life.

The biggest area of gambling in Italy that is susceptible to illegal activity is always the sports arena. Soccer is a major sporting event in Italy and draws in large crowds and large sums of money. Due to this factor, the government is keeping a watchful eye on the games and the gambling activity that surrounds them.

There are four main games that are being questioned for fixed matches and illegal gambling. These matches exist in the Serie B tournaments where bookmakers began to shut down their betting after suspicious activity. Once fixed draws were called out, these bookmakers stopped further bets and alerted the authorities. Now the investigation continues on these matches as well as preparing for the championship games.

The governing body of the sport is also active in finding illegal gambling perpetrators and stop fixed matches. Some governments and sports governing bodies have been successful in clamping down on this type of activity such as in Turkey where nearly 46 people were arrested for illegal gambling. These people arrested included coaches and players from the teams that are being questioned. In Italy the games in question that will go under this type of scrutiny and investigation include four teams: Modena, Piacenza, Triestina and Padova.Some of the online gambling companies are choosing to stay in the game even though there is legality issues. one of these companies is the online gambling giant Betfair.

Vancouver Casino Gets the OK from Government

Author: Chris  //  Category: Online Casino News

Vancouver has been in the news highlights for a few months now as its claim to fame brought it the Winter Olympics this year. Now it is gaining momentum and pushing hard towards getting access for a land based casino. The plan as it stands is to receive a push from a Las Vegas Gambling company in order to help implement the building of a large casino in the area. This hotel and casino complex would lie in the downtown area of Vancouver.

In building major casino in areas of downtown, there are always plenty of naysayers who are against the idea. Many feel that by adding a casino to their area that they will draw in a certain type of clientel that will not be welcomed into the area. The truth of the matter is usually that these major casino need and want to protect their property so they end up bringing in even more security to the area, therefore providing eyes and ears for a larger area around the town.

The government has been back and forth on the idea of bringing casinos to the downtown area, and now with the decline in the economic growth, they are considering the options more closely. For many years, the British Colombian Government has been outspoken about gambling both online and land based. Their opinions on the matter stated that they would work hard to “Stamp out” any attempts to bring these ideas forward. Their changing hearts probably had a lot to do with the changing economy, therefore leaving them nearly no choice but to implement both online and land based casino gambling. Now the British Colombian government has made strides towards gambling as they have already instituted online Keno, a popular gambling game. The B.C. also has an online lottery site that is becoming increasingly more pro gambling. The future olds that online casino games will be provided through this site.

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