A California tribe is getting into Internet gambling in a somewhat roundabout way. The Pala Indians are beta-testing PalaCasino.com, which will be run off the online platform of … Borgata. (Casinos in Atlantic City can host as many as five ‘Net casinos per property.) Pala’s 90-game package will go live on Monday, pending approval by the Division of Gaming Enforcement. Of course, it can only take action from Garden State punters. Pala Interactive Chief Marketing Officer Jeremy Clemons told media, “Our launch in New Jersey is a huge step for the company, and we want to make sure we’re rolling out one of the best, most user-friendly casino experience on the market.”
* Faced with the imminent approval of four new casinos, Turning Stone Casino, in Oneida, New York, is differentiating itself with Continued >>
Even with 19 non-tribal casinos and racinos to support, the Louisiana market continues to rebound. It was up 4% last month, with even 2% growth in the crowded Shreveport/Bossier City marketplace. El Dorado was the second-highest grosser and the percentage leader (+7%), while Diamond Jacks (-6%) brought up the rear. Horseshoe Bossier City was the top grosser, at $15.5 million.
In the Baton Rouge area, Pinnacle Entertainment‘s L’Auberge du Lac Baton Rouge continues to be responsible for over 50% of all the dollars grossed therein. It raked in $11 million million, while Tropicana Entertainment‘s Belle of Baton Rouge and Continued >>
Like its predecessors at Revel, management at Brookfield US Holdings found itself with an albatross around its neck: the cost-intensive Inlet District Energy Center. The standalone power plant cost the resort $1.25 million a month. Brookfield hoped to reduce those costs but couldn’t. The interest rate, 12% on bonds and as much as 18% on equity, was too onerous. The bondholders want to be paid what they were promised when the plant was built and Brookfield evidently doesn’t have the scratch. Finding Revel too rich for its blood, it’s scrapping the purchase.
Spurned Revel bidder Glenn Straub, who’s been challenging the outcome of the bankruptcy auction. was quick to take credit. “Obviously Continued >>