· Genting Malaysia is “aggressively” looking for U.S. casino opportunities. Genting Malaysia is debt free and has $1.7B in cash, and Genting Bhd.’s Justin Leong said they are in considering acquisitions, new markets and possibly a partner in the U.S. [Bloomberg Businessweek] http://www.businessweek.com/news/2010-06-13/genting-malaysia-aggressively-seeking-u-s-casino-investments.html
· Genting Malaysia: If Genting Malaysia were to win the rights for the ~4500 terminal slots at the Aqueduct Racetrack, there should be no difficulty in paying the $300M for the upfront license. The NY post also looks at Genting Malaysia’s footprint in the Tri- State area: 1) Financing the debut of Foxwoods in CT 2) A 55% stake in Empire Resorts 3) Investing >$200M in a partnership with Atlantic City’s MGM Mirage last year. [NY Post] http://www.nypost.com/p/news/local/aqueduct_big_bidder_EtDeJx5eNKVG3nKxA4qO6H
· Harrah’s: Union Gaming Group’s Bill Lerner said a recent transaction by Harrah’s owners could be a sign that Harrah’s may go public; Lerner said, “This transaction is tantamount to an equity offering" [Las Vegas Review Journal] http://www.lvrj.com/business/harrah-s-public-again--maybe-___-96240209.html
· MA Gaming: The revenues and benefits of the proposed Massachusetts casinos may not meet expectations; David Schwarz said, "I don’t know if it’s going to be the bonanza of revenues that some people think it’s going to be" [Boston Herald] http://news.bostonherald.com/news/politics/view/20100613glut_of_gaming_options_may_limit_revenue_state_can_rake_in_from_casinos/
· Intercontinental Hotels is planning almost double their number of hotels in the upcoming years, beginning with an opening in Times Square on July 12th. IHG operates 22 hotels in NYC and has 15 in development. [WSJ] http://online.wsj.com/article/SB10001424052748703389004575304972250509084.html?mod=WSJ_RealEstate_MIDDLETopNews
· PA Gaming/PENN: Table games could be offered at PENN’s Hollywood Casino by July 13th if it meets the standards of the Pennsylvania’s Gaming Board on July 11th. The Pennsylvania Gaming Control Board testing and implementation schedule could on allow all nine casinos in the state to open within 10 days in July. [Lebanon Daily News] http://www.ldnews.com/news/ci_15284981
· WYNN Las Vegas & Encore introduced a $20/night resort fee last Thursday, which is included on hotel guests bill even if they don’t use the amenities in the hotel. [LV Sun] http://www.lasvegassun.com/news/2010/jun/11/wynn-resorts-tacks-mandatory-20-resort-fee/
· LVS: Mario Gabelli, CEO of Gamco Investors, recommends LVS because he thinks their Singapore casino can have up to $1B in EBITDA over the next 12 months. [Bloomberg]
· OH Gaming: The new casino gambling law signed by Governor Ted Strickland has upset horse tracks in Ohio/ The tracks may try and use a ballot initiative (which would need 240K signatures) that would overturn the law and delay the four casinos in OH from opening. [Casino Gambling Web] http://www.casinogamblingweb.com/gambling-news/gambling-law/ohio_racetracks_pushing_for_slots_and_repeal_of_gambling_law_55236.html
· Casinos in Saipan: Last Friday, none of the 12 members of the public and agency government agency representatives opposed legalizing casinos in Saipan. The HB 17-56 bill needs to be amended before it’s passed because of “serious flaws” [Saipan Tribune] http://www.saipantribune.com/newsstory.aspx?newsID=100468&cat=1
· MAR’s “Edition” chain will open in Waikiki Beach, Hawaii in October followed by another opening in Turkey in December. [Financial Times] Note: This was out last week http://www.ft.com/cms/s/0/a1924818-733f-11df-ae73-00144feabdc0.html
· The Maybourne hotel group needs to refinance > £600m in debt before the end of 2010 and is currently in discussions with Deutsche Bank. [The Guardian] http://www.guardian.co.uk/business/2010/jun/13/maybourne-hotels-refinance-debt
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