Mickey’s Revenge

The Florida casino bill is dead after a House committee fails to vote on it. Supporters could not overcome a coalition of anti-gaming forces, led by Disney, to make the case for more jobs and increased tourism to the economically struggling state. Genting stands to be the big loser because of the massive investment it has made in Florida.       
 

FEATURES:

WEEKLY FEATURE: State of Confusion

The December ruling by the Justice Department about the legality of online lottery ticket sales has opened up the logjam on potential online gaming legalization. With Congress seemingly at an impasse about the issue, states are taking the lead. And it’s many more states than just the gaming hotbeds of Nevada and New Jersey. Read this complete report on the actions in each state considering online gaming.

Rank Wants Gala Coral’s Casinos

The U.K. casino market is on the verge of another major consolidation. Rank Group is attempting to add the casinos of Gala Coral to its current stable and become the biggest operator in the land overnight.

 
Caesars Announces IPO

In another attempt to launch a public offering, Caesars Entertainment last week announced that it would sell almost 2 million shares of stock in an effort to return to the public sector after being taken private in 2008. Chairman Gary Loveman and other insiders will sell additional shares if the IPO is successful.

Okada Breaks Ground in Philippines

Kazuo Okada (in white behind podium with PAGCOR Chairman Cristino “Bong” Naguiat) has broken ground on his company’s integrated resort project in the Philippines. Tiger Resorts, Leisure and Entertainment is building a $2 billion property capable of competing with similar properties in the region—which could be at the root of the current unpleasantness between buddies Okada and Steve Wynn.

 
New Year, New Jump

Macau gaming revenues benefitted from both the western and the Chinese new years. After a year of explosive growth, not much has changed as revenues were up 35 percent from January 2011. At left, the lines entering Macau at the border crossing.

  
Atlantic City Adopts New Master Plan

A new master plan for Atlantic City has been approved by the Casino Reinvestment Development Authority. The ambitious roadmap envisions a cleaner, safer and more ecologically friendly city, with state-of-the-art attractions incorporating light, sound and wind, as well as an upgrade to urban spaces to transform the resort town into a year-round, world-class destination.

Wynn Appeals to Have Okada’s Suit Dismissed

Wynn Resorts last week appealed to a Nevada judge to have a lawsuit brought by former vice chairman and current Wynn board member Kazuo Okada dismissed, citing SEC regulations and corporate transparency.      

FANTINI’S FINANCE: Paying a Dividend

In the past, most gaming companies did not pay dividends to shareholders because they claimed to be plowing the profits back into growth for the company. Today, that has changed and many of gaming’s most popular companies are now rewarding shareholders with dividends.

GLOBAL GAMING BUSINESS PODCAST: David L. Rebuck, Director, New Jersey Division of Gaming Enforcement

This week the Global Gaming Business Podcast features a conversation with David L. Rebuck, the director of New Jersey’s Division of Gaming Enforcement, on the recent regulatory reforms under way in Atlantic City’s casinos.