Issue 252
July 11 - July 17, 2005
Volume 5
page 2
 

Demolition of shuttered casino will begin
As Reported by Gaming Wire

LAS VEGAS, Nevada- Station Casinos will begin demolishing the shuttered Castaways on the north end Boulder Highway today, but the casino company has no plans beyond clearing the 26-acre site.

Demolition will initially involve tearing down the parking structure, which could take weeks to complete. Eventually, all the low-rise portions of the structure, including the casino and the property's small motel-style rooms, will be removed, leaving only the 500-room hotel tower.

Station Casinos expects to demolish the tower sometime in early 2006.

"We're not ready to announce any plans for this location. We're still exploring our options," said Station Casinos spokeswoman Lori Nelson. "We determined that several existing structures located on the site are no longer suitable for use and should be demolished."

Station Casinos is building the $800 million Red Rock Station in Summerlin and planning a redevelopment of the site of the Wild Wild West on Tropicana Boulevard.
Station Casinos bought the Castaways site in October for $33.7 million in a three-way transaction.

Formerly the Showboat, the hotel was closed in January 2004 after its ownership filed for bankruptcy in the previous June, listing debts of more than $50 million.

 

 

 


Arapaho plan expansion, new casino
As Reported by the Associated Press

RIVERTON, Colorado - The Northern Arapaho Tribe is expanding its current gambling operation by almost 100 machines while still going ahead with plans for a new, Las Vegas-style casino, said Jim Conrad, chief executive officer of the casino.

"We're getting more customers who haven't been here before," Conrad said. "We're advertising in Casper, Rock Springs, Cody and Rawlins. We figure that's our market - about two hours away."

According to Conrad, the Wind River Casino (formerly known as 789 Bingo) will have about 350 Class II gambling machines by the end of July, up from 259 machines just a few months ago. To make room for the additional machines, the casino moved some of its office space.

Class II machines do not include Vegas-style slot machines, but do include electronic bingo and other similar games.

The Northern Arapaho also hope to open a larger casino complete with Class III games, including slot machines and table games. But the tribe and the state have gone to court over those plans, and the 10th U.S. Circuit Court of Appeals in Denver has yet to rule on whether the tribe will be allowed to operate Class III games.

Conrad said regardless of what the court decides, the tribe will go ahead with the new casino, even if it, too, is only allowed to operate Class II games.

Construction of the new casino has been delayed not only by the courts, but also because of design changes.

Ground was broken for the building last summer.

MEC to Sell Canadian Racino to Gaming Company
As Reported by news.bloodhorse.com

Magna Entertainment Corp. has agreed to sell Flamboro Downs, a Standardbred racino in Ontario, Canada, to Great Canadian Gaming Corp., a casino company that continues to add racetracks to its portfolio.

Great Canadian would pay MEC $50 million Canadian ($40 million) and another $23 million in cash for Flamboro Downs, which offers live year-round harness racing and operates four off-track betting parlors near Hamilton, Ontario. Flamboro also has 752 slot machines and ranks third among Ontario racinos in revenue, according to MEC.

Great Canadian would acquire all outstanding shares of Ontario Racing Inc., a wholly owned subsidiary of MEC. The sale is subject to regulatory approval and due diligence. MEC acquired Flamboro Downs for $47 million, according to a release issued in 2002 when the plan to purchase the harness track was announced.

"We are pleased to establish a relationship with Great Canadian and we look forward to developing a long-term relationship to the mutual benefit of both our companies," MEC chief executive officer Thomas Hodgson said in a release. "We have agreed with Great Canadian that we will continue to have the use of the Flamboro signal, and we will work with them to include other Great Canadian tracks within the MEC distribution network.

"Flamboro is a great track with excellent people, but its divestiture allows MEC to focus resources on a strategic goal of delivering prime racing content, developing our U.S. gaming potential, and expanding our signal delivery and wagering capability within North America and internationally."

Great Canadian is based in British Columbia, Canada. Last year, it purchased several racetracks in British Columbia, including Hastings Park, a Thoroughbred track, and two harness tracks--Fraser Downs Racetrack and Casino and Sandown Park. The company also purchased Georgian Downs Raceway and Slots, which is located in Ontario north of Toronto.

"We see Flamboro as an excellent fit for our company as we continue to expand into the central and eastern regions of Canada," Great Canadian chief operating officer Anthony Martin said. "We are excited about the mutual benefits of a relationship with MEC."

MEC officials have indicated there could be changes as the company looks to shore up its bottom line. MEC is in line to operate slots in Florida at Gulfstream Park, which is being rebuilt from the ground up, and also plans to focus on expansion of its simulcast network.

Destiny's Child

Mohegan Sun: Beyonce Knowles, Kelly Rowland and Michelle Williams make up the r&b group, Destiny's Child and perform at the Arena, August 3. They will perform songs from their latest album Destiny Fulfilled including the hits "Bootlylicous" and "Say my Name."

Date: August 3

Time: 7:00pm

Ticket Price: $98.25, $78.25, and $63.25

For more information please call:1-888-226-7711
 
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