In a setback for all regions of New York State that are eligible for a casino (or two), the casino-siting board has made it clear it’s taking a serious look at the “up to four” clause in the licensing process. So maybe they could hand out three licenses. Or fewer. At this point there are three eligible regions and 16 competing proposals, with a decision coming in October. The thinly populated Southern Tier is highly unlikely to get more than one. (Three proposals have been submitted.)
Which means that the solomonic baby-slicing will happen in the Catskills area, where Ulster County and Sullivan County are at daggers drawn with Orange County (more affluent, closer to New York City). With six of nine of the Catskills-area proposals being in Orange County, the odds are favoring it heavily at this point. It’s cruelly ironic because, for years, Sullivan and Ulster counties were the poster children for casino expansion, and now they may get cut out of the action entirely.
But “while casinos in Orange County may make the most money, that’s not Continued >>
Ultimate Gaming is exiting Atlantic City but don’t take that as a slight on the New Jersey market for Internet gambling. Ultimate lost patience with dubiously solvent Trump Taj Mahal, which it accuses of being two months in arrears and owing it $1.5 million. “It made it extremely difficult to operate under those circumstances.”,” understated Station Casinos CFO Marc Falcone, who added that Ultimate Gaming had stopped taking deposits. (The company is also downsizing.)
The company’s lack of haste to re-enter the Garden State market may have something to do with its last-place ranking among Continued >>
Taking a glass-half-full view of Atlantic City, CEO of MGM Resorts International Jim Murren wanted back in. Why not, when it means having half of by far the dominant joint in town, Borgata? Now that MGM has been vetted and cleared for a return to the Boardwalk, it will be taking a more active managerial role at Borgata, leveraging its relationship with AEG to improve the entertainment on offer. Since both MGM and Boyd Gaming are partners with Bwin, that simplifies the Internet-gambling picture considerably, too.
However, it’s the safest of bets that MGM is glad it pulled the $5 billion plug on MGM Grand Atlantic City and nothing of that ilk is going to be built, ever. (The company might as well buy and renovate Revel, if another megaresort is what it wants — and that’s highly improbable.) MGM still owns Continued >>