Online Casino Edition – Casino News News about online casinos and gambling

September 4, 2013

Mono Indian Casino Project Moving Forward

Filed under: Casino — Tags: — OCE News @ 11:12 am

Jerry Brown, Governor of California, recently signed a bill that will let a casino project move forward. The project is backed by Station Casinos, Inc and has been in the works for almost ten years. The signing of the bill will allow actual development activities to finally begin.

The project is estimated to cost approximately $350 million and will be operated by the North Fork Rancheria Mono Indians. The project will be located close to a major California state highway as well as the city of Madera, which is about 25 miles north of the city of Fresno.

The gaming location will occupy some 305 acres, and was approved via a rarely used federal process that allows nontribal land to be taken into trust. The plan, for years, has been opposed by some rival tribes. The North Fork tribe acquired the land after 1988. In 2003, Station Casinos signed an agreement with the North Fork tribe to assist with financing, developing, and managing the project.

The process is not over however as the North Fork plan must still be approved by the U.S. Department of the Interior. In addition, the management deal offered by Station Casinos will require the National Indian Gaming Commission to approve.

According to Scott Nielson, Station Casinos Chief Development Officer, the company is now able to start with its design process. The plan calls for a new casino, and it thought to include table games, some 2,000 slot machines, and various entertainment as well as restaurant venues. Of the total acreage, the project will occupy an estimated 60 acres.

Nielson is calling for patience, however. He said, “We know from experience that these projects take time to materialize. You have to have patience.” He also commented that the project will be constructed in various phases and its initial construction is not expected to include a hotel.

Mr. Nielson also said that he suspects that the North Fork project may actually be the end of major Indian gaming developments in the state of California that involves nontribal land that has been taken into trust. He went on to say that the company does not have any Indian gaming projects, other than this one, in the works.

Currently, Station Casinos runs the Gun Lake Casino which is located near Grand Rapids, Mich. This is owned by the Gun Lake Tribe of Pottawatomi Indians. It is also constructing the $800 million Graton Resort and Casino which is located close to Santa Rosa, Calif. That particular project, which is for the Federated Indians of Graton Rancheria Tribe, is thought to be ready for opening sometime in November.

According to 2011 numbers, California area Indian casinos (68 in total) earned approximately $7 billion in gaming revenues. This amount represents nearly one quarter of the total for the US in tribal gaming. This is according to Casino City’s Indian Gaming Industry Report.

It has also been announced that Penn National Gaming is planning to build a hotel and casino valued at $360 million. This project is for the San Diego Jamul Indian Village.

September 2, 2013

Casino Proposal Top Of NY Ballot

Filed under: Casino — Tags: , , — OCE News @ 11:11 am

New York Governor Andrew Cuomo has moved forward with prioritizing the placement of the state’s new gambling proposal scheduled for the November ballot. He, and others, believe that placing the proposal on the top of the upcoming ballot will help to get it passed.

In November, NY voters will vote on whether or not to approve a new state constitutional amendment. If passed, this amendment will allow four Vegas-style casinos to be created in upstate New York, one of which is believed to be located at the Saratoga Casino and Raceway.

Generally, new propositions are positioned on the ballot in sequence as they were approved by the state’s legislature. This time, however, six measures are to be placed on the November ballot at the top. It has been remarked that several casino proponents, as well as Governor Cuomo, want these gaming propositions listed first so that people who are voting will see them.

According to state Sen. John Bonacic, R-Mt. Hope, chair of the Senate Racing, Wagering and Gaming Committee, “When it (the ballot) comes out, it will be No. 1.” He went on to say that there will be marketing campaign that urges state residents to “Vote No. 1.”

It should be noted that he represents the Catskills area, which may get two full-scale casinos if the propositions are passed.

Also, in addition to the above, there are plans calling for voting booth attendants to speak to voters and remind them about the propositions just before they will cast their ballots. The new propositions are to be listed on the back of the paper ballots which voters fill out. It is a known fact that voters often forget to fill out both sides of the ballot. Officials who are running for public office will be posted on the front side of the ballot.

Gambling proponents are also concerned of light voter turnout because there are no big statewide races coming up this November. These ballot plans are not the only things that the state is doing as they try to get these casino proposals approved by voters.

One reason for this effort is that neighboring states who also have casinos will try their best to lobby against the new measures. Any new casinos in New York will, of course, have an impact on their businesses. Casinos in both New Jersey and Connecticut have already seen downturns financially. The amount of money that is expected to be used to lobby against the new proposals will be large, experts suggest.

Should the new proposals fail to be approved by voters, the state may still install video gaming machines at state non-racetrack locations. Also, if the proposals are defeated, they will not be brought up again, at least not in the near future. It is not clear at this time how or when those who may be opposed to the new proposals will being their lobbying efforts, but those efforts are expected to begin soon, and expected to be most aggressive in those areas that are closer to state borders who have competing casinos.

August 31, 2013

Spinoff for Caesars Gets the OK

Filed under: Casino — Tags: , — OCE News @ 11:10 am

Recently, the Nevada gaming commissioners gave its approval for Caesars Entertainment Inc to spinoff its Planet Hollywood Resort, as well as its interactive gaming business, along with a planned Baltimore casino, all into a new and separate company which will be owned by Caesars Entertainment.

According to company officials the new transaction may be able to close by fall of this year. Even so, the new restructuring plan still requires approval from both the SEC (Securities and Exchange Commission) as well as the Maryland gaming regulators.

Caesars now controls over 50 casinos and hotels which are located throughout the U.S. It has said that the new plan will give the company potential growth investments as well improve its balance sheet. The company also runs 10 casinos and other businesses that are either on the Strip in Las Vegas or just off the strip. As one might expect, Caesars is considered a major player in the Vegas area.

According to Caesars officials, the newly formed Caesars Acquisition will be known as Caesars Growth Partners. It will include Caesars Interactive Entertainment, Planet Hollywood, and will also include the Horseshoe Casino Baltimore which is under development and expected to open in 2015.

The company reported in a SEC filing they plan to raise an estimated $1.18 billion through selling stock which will be under the new public entity name. Additional funding will come through private equity groups, Apollo Global Management and TPG Global.

It was also reported that up to 70 percent of the new company may be owned by Caesars Entertainment and TPG Global and Apollo Global Management. The latter two are private equity groups and they are expected to invest approximately $500 million into the new venture. It was also reported that Caesars will be allowed to bring the businesses back into CE Inc after a five year period. No information was released on just how that might occur or if Caesars is planning to move forward with that plan in the short or long term future. For those who enjoy these venues, on terms of business operations, nothing is expected to be changed and customers will find the same quality service that they now experience.

For those who may not know, Caesars Interactive operates the social gaming Playtika as well as the very popular World Series of Poker (WSOP) and it considered by many industry experts to have a huge potential for the company. It is considered one of the company’s most attractive and lucrative operations. In addition, it has been announced that Caesars is planning to launch regulated and legal World Series of Poker websites located in both New Jersey and Nevada. This may prove to be a real boon for the company as the WSOP is now a globally known brand.

In addition, it was announced that Caesars Growth Partners will also be able to earn management fees from the very popular Planet Hollywood. Also fees can be earned from the new Horseshoe Baltimore which is expected to open sometime in 2015.

August 29, 2013

Galaxy Gaming Reports Quarterly Profit

Filed under: Casino — Tags: , — OCE News @ 11:08 am

On 15 August, Galaxy Gaming Inc. Reported a modest profit for its quarter. This comes even though a California judge has upheld a gaming commission decision that the company’s CEO is not fit to do business in the state. The CEO in question is Robert Saucier.

According to reports, the Galaxy second-quarter net income came in at $85,000 which equates to zero cents per share. This compares with $62,000 for the same reporting period last year. Revenue was reported at $1.94 million, and this compares to $1.79 million for the second quarter reported in 2012. Company shares are sold on the OTC market and were unchanged at 27 cents.

In a statement made by Saucier, he said that even though the company is facing hard economic times, they will continue to lead, grow, and innovate. Galaxy is based in Las Vegas.

Galaxy manufacturers table games which also includes side bets. These can be played with games such as blackjack. In addition, the company distributes an automated table game where players can play blackjack without a aid of a live dealer. This is called TableMax.

On July 11 of this year, the California Gambling Control Commission upheld the ruling made by an administrative law judge that described Mr. Saucier as being unsuitable to do this type of business in the state of California.

Saucier defended himself during a recent conference call saying that Galaxy had been open and transparent. He went on to say that much of the information that had been used against him had been inaccurate and inconsistent. He also added that the company is licensed in California by individual tribes and that the company has only faced a revocation of its licenses from two tribes. According to Saucier, the company earns approximate 3 percent of overall revenues in California.

According to Saucier, the company plans to continue doing its business with the tribes and has promised to keep interested parties informed as to what is happening. He stated that so far there has been no fallout from other business interests in other locations or jurisdictions.

It was also reported that Galaxy is planning to file for a non-restricted gaming license in the state of Nevada. It was determined back in July of this year by the Nevada Gaming Commission and Control Board that Galaxy needed to go ahead and make its application for the Nevada license. There has been no word yet from the Nevada commission as to what this current problem in California may have on their decision.

The investigation that led up to the decision took three years. It involved looking into Saucier’s business license applications as well as personal history. He was formally accused of withholding (or in some cases misstating) important and crucial information to state officials who suggested that he had not been honest about his past criminal record, schooling, lawsuits, and certain business dealings. He has from the beginning denied these allegations. Further legal action is expected as he tries to clear his name of these charges.

August 27, 2013

California Subject of Galaxy Gaming CEO Letter

Filed under: Casino — Tags: , — OCE News @ 11:07 am

The chief executive of Las Vegas-based Galaxy Gaming Inc, Robert Saucier, recently sent out a four-page letter to company shareholders with the aim of explaining issues associated with the recent decision made by the California gaming regulators.

On July 11 of this year, the California Gambling Control Commission (made up of four members) announced that it would uphold a ruling made by an administrative law judge that said that Saucier was not suitable for doing business in California.

In his letter, Saucier wrote, “The proceedings did not directly involve Galaxy but rather a predecessor entity that ceased business operation in 2009 and dissolved. At Galaxy, it is business and usual as we continue to provide our products and services without any interruption.”

The Galaxy entity is licensed by California tribes and manufactures table games, as well as side bets which are played with blackjack and other games. In addition, Galaxy also distributes an automated blackjack game, TableMax, which allows for blackjack play without the use of a live dealer.

In his letter, Saucier made it known to the company shareholders that Galaxy’s California gaming license had not changed and that it was still in “good standing” status. He went on to write that their status in other places was unchanged as well. The company plans to find and acquire new licenses as well as add more approvals in other jurisdictions.

Even so, the company is looking at possible problems over some statements that it made to Washington state gaming regulators who are now questioning the accuracy of those statement.

This recent recommendation that was issued by the California gaming commission is the end result of an investigation that has lasted some three years. During the investigation, Saucier was said to have withheld or misstated crucial and important information to California state officials which included information about his past education, criminal record, lawsuits, and various business dealings.

According to Catherine Frink who served as the administrative law judge, “Saucier was evasive and, in some instances, intentionally dishonest and misleading in his response to questions.” She went on to say, “In a highly regulated industry such as gaming, the failure to be forthcoming with relevant information was inexcusable.”

Saucier has since denied these allegations and informed shareholders that he has been working in the industry for over ten years.

According to gaming commission official located in Sacramento, this decision will mean that Saucier is not allowed to operate within the state of California as a tribal vendor. This ruling in California, which was unanimous, may also cause him problems with the Nevada Gaming Control Board who has recently said that they may need to look into requiring Galaxy to apply for a state license. In his letter, Saucier did not comment on the Nevada gaming regulators’ licensing decision, and he did not comment on the issues associated with the Washington State Gambling Commission.

He did however criticize the media coverage that he has gotten from California media outlets saying that the media had not explained correctly the various California proceedings. He denied that he had not reported details on his business or personal life to the California regulators. He claimed that he has no criminal record.

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