Most Clicked Casino & Gaming SmartBrief Stories

1. Casino off the hook for $41.8M jackpot from slots glitch

Casino & Gaming SmartBrief | Apr 27, 2015

The Isle Hotel Casino in Waterloo, Iowa, does not have to pay a $41.8 million jackpot initially thought to be owed after a computer glitch caused the Miss Kitty slot machine from Aristocrat Technologies to mistakenly display a jackpot message in 2011, the Iowa Supreme Court concluded Friday. Playing on a machine on which rules and pay table were available via touch screen is akin to entering a contract with the casino, regardless of whether one reads the rules, the court ruled unanimously. Chicago Sun-Times (free registration) (04/24)

2. Court filing outlines mistakes by former Revel owners

Casino & Gaming SmartBrief | Apr 22, 2015

A court filing details the missteps made by previous owners of the Revel casino in Atlantic City, N.J., including an exclusive contract with ACR Energy Partners to provide power for the casino for 20 years and construction costs that went at least $100 million over budget. The casino also suffered from not immediately offering a players' club and overpricing food and drinks, the disclosure finds. (Philadelphia) (04/21)

3. Mohegans seek to build $5B casino in S. Korea

Casino & Gaming SmartBrief | Apr 21, 2015

The Mohegan Tribal Gaming Authority inked a memorandum of understanding on Tuesday on a proposal to develop a casino in South Korea, its first international casino, by 2040. Working with Miura Holdings of Las Vegas, the Mohegans plan to build a $5 billion casino project on land owned by the Incheon International Airport that would feature a private jet terminal, two hotel towers, 1,500 slot machines, retail and entertainment space, and a showcase of the tribe's history and culture. Two South Korean gaming licenses are to be awarded this year. Reuters (04/21) Wall Street Journal (tiered subscription model), The (04/20) Korea Herald (Seoul), The (04/21)

4. Macau "will never be like Las Vegas," expert says

Casino & Gaming SmartBrief | Apr 23, 2015

Macau casinos are adding nongaming amenities as the government cracks down on VIP gamblers. However, experts say Macau may not be able to duplicate Las Vegas. "Macau will never be like Las Vegas in terms of the importance of nongaming revenues," said Aaron Fischer of CLSA, an investment and research group. "The investment that these companies are making in nongaming is a requirement." Financial Times (tiered subscription model) (04/21)

5. Md. casinos' free-play formulas vary

Casino & Gaming SmartBrief | Apr 27, 2015

According to state documents, Maryland Live, the state's largest casino, spent $41.6 million, or 7.1% of its revenue, on free play. Rocky Gap Casino and Resort's free play was worth 21.3% of its 2013 revenue of $23 million; Hollywood Casino Perryville spent 2.8%; and Ocean Downs spent 11%. Casinos "each have their own unique formulas to determine what is the appropriate level," said Charles LaBoy, Maryland Lottery and Gaming Control Agency assistant director for gaming. "They want to give enough away to get the person in the door. They don't want to give away too much." Baltimore Sun, The (04/24)

6. Creditors object to Caesars request for bankruptcy extension

Casino & Gaming SmartBrief | Apr 24, 2015

Caesars Entertainment Operating's creditors filed an objection to the company's request to extend by six months its deadline to submit a reorganization plan. A judge will hear arguments on the extension on Wednesday. Reuters (04/23)

7. Analysts: Japan could pass casino bill by end of session

Casino & Gaming SmartBrief | Apr 23, 2015

Analysts for Union Gaming Research say Japan still has time to pass a casino gaming bill before the end of the parliamentary session. Grant Govertsen and Felicity Chiang said they are "cautiously optimistic" that a bill could pass by the time the session ends on June 24. GGRAsia (Macau) (04/22)

8. Attorney resigns from Nev. gaming panel after 7 years

Casino & Gaming SmartBrief | Apr 24, 2015

Joe Brown, a lawyer based in Las Vegas, has submitted his resignation from the Nevada Gaming Commission, citing personal reasons. Brown has served on the commission since 2008. "My decision to resign from the Nevada Gaming Commission was not made without some amount of regret," Brown said in a statement. "However, other commitments and professional obligations must take precedence." (Las Vegas) (04/23) Las Vegas Review-Journal (04/23)

9. Fla. gaming bill passes another hurdle but faces long odds, experts say

Casino & Gaming SmartBrief | Apr 22, 2015

A Florida gaming bill narrowly advanced through committee on Tuesday. However, experts say additional provisions tacked onto the bill could make its passage more difficult. The bill would allow greyhound tracks to offer slot machines and would set up a state gaming commission, among other measures. (Tampa, Fla.) (04/21)

10. Ohio racino begins $70M renovation project

Casino & Gaming SmartBrief | Apr 24, 2015

Akron Beacon Journal (Ohio) (04/23)

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