Monthly Archives: March 2013

Cosmopolitan posts $106.5 million loss

Date

March 31, 2013

Author

Chris Sieroty

Source

Las Vegas Review-Journal

Region


Subject

results

URL

http://cdcgamingreports.com/cosmopolitan-posts-106-5-million-loss-in-2012/?doing_wp_cron=1364663920.3788208961486816406250

The Cosmopolitan… reported that it posted a net loss of $106.5 million for 2012, up from the $96.9 million net loss posted in 2011. The hotel generated $124.18 million in casino revenue last year, a modest increase from $107.38 million in 2011.

Deadwood casino revenue down compared to last February

Date

March 31, 2013

Author

Aaron Orlowski

Source

Rapid City Journal

Region


Subject

results

URL

http://rapidcityjournal.com/news/local/communities/lead-deadwood/deadwood-casino-revenue-down-compared-to-last-february/article_e1cc05a5-152d-5d5f-931d-ae0b5b4e017c.html

For only the second time since September 2011, gambling revenues in Deadwood are down when compared to the previous year… Surging table gambling revenue – a trend since the bet limit increased from $100 to $1,000 last July – wasn’t able to compensate for a 5.7 percent dip in slot machine revenue in February when compared to February 2012, according to numbers released this week by the South Dakota Commission on Gaming. Since the vast majority of casino revenue comes from slot machines, a 21 percent increase in table games couldn’t make up for the dip that saw gross revenue drop 2.9 percent from $8.1 million last February to $7.9 million this February.

Horse racing-Cheltenham plans $68 million upgrade

Date

March 28, 2013

Author

none

Source

Reuters

Region


Subject

UK

URL

http://sports.yahoo.com/news/horse-racing-cheltenham-plans-68-million-upgrade-132824128--sector.html

Cheltenham racecourse plans to build a new grandstand complete with an upgraded royal box in a 45 million pound ($68 million) makeover of the venue, home to one of the most prestigious festivals in jump racing… The new grandstand, with capacity for 6,500 spectators, will replace a smaller 1920s block where private boxes including the one for the royals are located… The existing grandstand will be modernized as part of the work, scheduled for completion by 2016.

OPAP sale at risk of legal challenge

Date

March 28, 2013

Author

Kylie MacLellan/ Nikolas Leontopoulos

Source

Reuters

Region


Subject

Greece

URL

http://uk.finance.yahoo.com/news/greeces-opap-sale-risk-legal-191134621.html

The flagship sale of the Greek government’s stake in betting monopoly OPAP is being challenged by two of the potential buyers, who say the sale is not being run fairly. Two of the eight initial suitors for the 33 percent stake have independently written to OPAP and the Greek privatization agency HRADF complaining the process is not being run in a transparent and objective way. Both suitors a bid vehicle called Emma Delta backed by Greek shipping tycoon George Melisanidis and Czech investor Jiri Smejc, and a consortium led by gaming equipment company Gauselmann and gaming software group Playtech threaten to take legal action if necessary.

Several dead in attack on casino

Date

March 28, 2013

Author

none

Source

Aljazeera

Region


Subject

Kenya

URL

http://www.aljazeera.com/news/africa/2013/03/2013328615365215.html

At least seven people including one police officer have been shot dead in gun battles after gunmen attacked a Kenyan coastal casino, police said. Aggrey Adoli, regional police chief, said on Thursday that a large group of men who he claimed were members of coastal separatist group Mombasa Republic Council (MRC) had attacked a casino in the town of Malindi, a popular Indian Ocean tourist resort… Malindi, some 95km north of Kenya’s main port city of Mombasa, is home is several top-end international tourist resorts. Silvio Berlusconi, Italy’s former prime minister, has visited the palm-fringed resort several times. Kenya’s billion-dollar tourism industry is the East African nation’s second biggest cash earner after horticulture.

La Scala trial on April 29

Date

March 28, 2013

Author

none

Source

Macau Business

Region


Subject

Macau

URL

http://www.macaubusiness.com/news/la-scala-trial-on-april-29/22538/

The trial of Chinese Estates Holdings Ltd boss Joseph Lau Luen Hun and BMA Investment chairman Steven Lo Kit Sing regarding the land where luxury residential project La Scala is being built, will resume at the end of April… The Public Prosecutions Office has accused Mr. Lau, Mr. Lo and six others of being part of the web of corruption woven by Ao Man Long when he was secretary for transport and public works.

Unemployment rate stable

Date

March 28, 2013

Author

none

Source

Macau Daily Times

Region


Subject

Macau

URL

http://www.macaudailytimes.com.mo/macau/42602-unemployment-rate-stable.html

The unemployment rate (1.9%) and the underemployment rate (0.6%) for December 2012-February 2013 has kept stable in comparison to the previous period (November 2012-January 2013). Information from the Statistics and Census Service (DSEC) indicated that the total labor force was 357,200 and the labor force participation rate stood at 72%. In the new figures, total employment was 350,600, a decrease of 900 from the previous period. Categorized by industry, employment in “Retail Trade and Hotels & Similar Activities” saw an increase, while that in Construction registered a decrease

Grand Lisboa to get 30 tables from Oceanus

Date

March 28, 2013

Author

none

Source

Macau Business

Region


Subject

Macau

URL

http://www.macaubusiness.com/news/grand-lisboa-to-get-30-tables-from-oceanus/22540/

The chief executive of SJM Holdings Ltd, Ambrose So Shu Fai, said that at least 30 low-yielding gaming tables would be moved from casino Oceanus to Grand Lisboa hotel… Union Gaming Research Macau analyst Grant Govertsen wrote in a note today that the redeployed tables could positively impact SJM’s operations in the second half of this year.

China Star is back to profit

Date

March 28, 2013

Author

none

Source

Macau Business

Region


Subject

results

URL

http://www.macaubusiness.com/news/china-star-is-back-to-profit/22542/

Hong Kong listed China Star Entertainment posted a profit of HK$94.5 million (US$12.2 million) in 2012, compared to a loss of HK$632.7 million the year before… Lan Kwai Fong’s revenue rose by almost a third last year to HK$1.3 billion, despite a 40 percent drop in VIP gaming income to HK$184.3 million. The hotel-casino posted profits of HK$192.8 million, up by 80 percent.