Robin Camacho
Las Vegas Real Estate
David McKee
Stiffs & Georges
Jean Scott
Frugal Vegas
Cannery Casino Resorts (29) [RSS]
Melco Crown Entertainment (29) [RSS]
Morgans Hotel Group (32) [RSS]
Pinnacle Entertainment (60) [RSS]
Tropicana Entertainment (90) [RSS]
World Series of Poker (6) [RSS]
Illinois: No country for big casinos
JohnTerez said: What your name? , <a href="http://pdabooks.org/membe... noir wine&l... [More]
Nevada: The Stupid State
PortoM0n said: Don't go far away. , <a href="http://cool-wallpapers.ev... cool wall... [More]
They burned the Monte Carlo ... and may get away with it
JohnTerez said: Try see it. , <a href="http://smart.fm/lists/152... glass supplies</a>... [More]
Nevada: The Stupid State
PortoM0n said: Hi brothers and sisters! , <a href="http://boxesandarrows.com...... [More]
They burned the Monte Carlo ... and may get away with it
SoloJ3ss said: Great... , <a href="http://boxesandarrows.com... to make deer a... [More]
Enter your email address to subscribe to this blog.
alex yemenidjian ameristar animals architecture atlantic city australia baseball boulder strip boyd gaming california cannery casino resorts carl icahn charity cirque du soleil citycenter colony capital colorado columbia sussex cosmopolitan current detroit dining don barden donald trump downtown economy election encore entertainment environment florida fontainebleau g2e george maloof harrah's harry reid herbst gaming horseracing igt illinois indiana international internet gambling isle of capri james packer kansas kentucky labor lake tahoe laughlin lawrence ho louisiana lvcva m resort macau marketing massachusetts melco crown entertainment mesquite mgm mirage michael gaughan mississippi missouri monte carlo fire morgans hotel group movies neil bluhm ohio oscar goodman penn national pennsylvania pets phil ruffin pinnacle entertainment planet hollywood politics problem gambling regulation reno riviera sahara sheldon adelson singapore sports stanley ho station casinos steve wynn tamares group taxes technology the strip tilman fertitta tourism transportation tribal tropicana entertainment tv wall street
Posted At : February 22, 2008 11:44 AM | Posted By : D McKee
Related Categories:
Kansas,Ameristar,Election
Ameristar Casinos has pulled the plug on $100 million or more in renovations and expansion of its Kansas City riverboat complex, including the addition of a hotel tower, taking a $4.5 million write-down in the process. It cited a combination of factors in its decision, which came during a quarter which saw profits come in 30% below Wall Street expectations.
One factor, of course, the specter of casinos across the state line in Kansas. The other is blow from closer to home. Earlier this week, the Missouri Gaming Commission gave unanimous approval to a 14th casino license. The casino would be in nearby Sugar Creek and so far the only applicant is a Des Moines company, Wild Rose Entertainment.
Ameristar must now pin its hopes on a bill by Missouri House Rules Committee Chairman Shannon Cooper that would cap the number of Missouri casino licenses at 13. In return, loss limits would be repealed. It's a foot race to March 19, when the 14th license will be awarded.
Ameristar execs evinced a sense of betrayal, with CEO John Boushy saying they were "really scratching our heads trying to understand the decision-making criterion being used by the Missouri Gaming Commission." The company fears losing $60 million a year in business to Sugar Creek alone.
With a nod to Wild Rose's plan for a casino costing one-third as much as Ameristar's, company co-chairman Gordon Kanofsky railed at the commissioners: "After requiring and encouraging operators to invest in their properties as they have and then destroy their ability to make a return on that investment by allowing a bare-bones facility in the marketplace, it just doesn’t seem fair."
End of an era? Former Gov. Evan Mecham (R-AZ), impeached 20 years ago, died yesterday. His signal accomplishment was to unilaterally revoke the Martin Luther King Jr. holiday, a move that brought opprobrium and boycotts upon the state of Arizona (and did Mecham's use of racially offensive language). Today an African American is the Democratic frontrunner for president and Mecham is virtually forgotten outside Arizona. We've come a long way.
Print | 
Send to Friend | 
del.icio.us | 
Digg It! | 
Linking Blogs |
There are no comments for this entry.
[Add Comment]