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October 22, 2012
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Gaming News By the Industry, For the Industry

  Top of the Deck 
  • William Hill eyes acquisition of Playtech's stake in online joint venture
    William Hill may acquire online gaming firm Playtech's 29% stake in the bookmaker's lucrative online joint venture business. "[W]e intend to commence the valuation process relating to the minority share in William Hill Online prior to making a decision on this by the end of the first quarter of 2013," said Ralph Topping, the bookmaker's CEO. In 2008, the William Hill Online division was established in partnership with Playtech. Las Vegas Review-Journal (10/20) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • Affinity Gaming to take over 3 Colo. casinos after acquiring license
    The Colorado Limited Gaming Control Commission has licensed Affinity Gaming, which will allow the casino operator to finalize acquisition of three gaming facilities in the state. At the end of this month the company looks to take over management of the Golden Gates Casino, Golden Gulch Casino and Mardi Gras Casino in Black Hawk. The acquisitions came about through an asset swap between Affinity and Golden Gaming in February. "We think Black Hawk patrons will be thrilled with the improvements we have in store for them," Affinity Gaming CEO David Ross said. Las Vegas Review-Journal (10/20) LinkedInFacebookTwitterEmail this Story
  • Silver Legacy seeks to emerge from bankruptcy protection
    Silver Legacy Resort Casino's owner will seek approval today from the U.S. Bankruptcy Court in Reno, Nev., to settle its outstanding debt of $142.8 million with lenders. The court's approval would let the Reno gaming facility emerge from bankruptcy protection. "We are very excited that all the litigation in our case has settled. We are looking forward to Silver Legacy's future as a financially stronger company," said Gary Carano, CEO of Circus & Eldorado Joint Venture, which operates the casino. Las Vegas Review-Journal (10/20) LinkedInFacebookTwitterEmail this Story
  • Fla. casino owners hope to install slots at dog track
    The owners of a casino in Miami hope to have the same success their gaming facility has experienced by installing slot machines at their dog track in Bonita Springs, Fla. "Everything you see here, we'd like to translate to the west coast to Bonita Springs," said Izzy Havenick, co-owner of the Magic City Casino. Lee County residents will vote in November on whether to allow slot machines at the track. The News-Press (Fort Myers, Fla.) (10/20) LinkedInFacebookTwitterEmail this Story

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  Issues, Trends & Technology 
  Industry Voices 

  Tribal Gaming Spotlight 
  • Graton Rancheria tribe agrees to annual payment for casino resort
    The Federated Indians of Graton Rancheria tribe has entered into an agreement with Rohnert Park, Calif., to pay at least $9 million yearly to the county as part of a deal for a casino resort the tribe is building. In 2003, the tribe agreed to pay the city nearly $200 million for 20 years. "The tribe has been continually trying to put their best foot forward in terms of negotiating and really giving back to the community," said county Board of Supervisors Chairwoman Shirlee Zane. The Press Democrat (Santa Rosa, Calif.) (10/20) LinkedInFacebookTwitterEmail this Story
  International Focus 
  • SJM gets land grant for casino hotel project in Macau
    SJM Holdings has received a land grant from the Macau government for a casino hotel that the company plans to build in Cotai. According to a Hong Kong Stock Exchange filing, SJM has agreed to pay $269 million for the parcel of land on which it plans to build a gaming facility with 700 gambling tables and 1,000 slot machines. "SJM's acceptance of the proposed draft land concession contract is a milestone development for the company as it offers the opportunity for the group to expand its existing operations from the Macau Peninsula to Cotai," SJM Holdings CEO Ambrose So said. Bloomberg Businessweek (10/19) LinkedInFacebookTwitterEmail this Story
  Hot Topics 

Top five news stories selected by AGA SmartBrief a G2E production readers in the past week.

  • Results based on number of times each story was clicked by readers.
  AGA & G2E News 
  • AGA releases comprehensive economic impact study
    The AGA recently released Beyond the Casino Floor: Economic Impacts of the Commercial Casino Industry, the largest and most comprehensive study of the total impact of the commercial casino industry in nearly 15 years. The report examines not only the direct economic impact on communities where casinos are located, but also the indirect and induced impacts of the industry and its employees nationwide. The study also measures the impact of the nongaming amenities that have become a crucial part of casinos' revenue streams. Download the full report. LinkedInFacebookTwitterEmail this Story
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The importance of money flows from it being a link between the present and the future."
--John Maynard Keynes,
British economist

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