Issue 159
September 29 - October 5, 2003
Volume 3
page 1
 

This Issue

Gaming News
Dover Downs Named "Best Racino"

Treasure Island to Pass the Buc at Auction

Las Vegas Paying for Sin City Reputation

Las Vegas Gaining Flights

Westin Opening Delayed

Owners to Demolish Landmark Nevada Casino


Show Time

Red Hot Chili Peppers will perform at the Events Center at Mandalay Bay Resort Casino on October 8, 2003


Column
Make Profitable Double Downs on Your Neighbor's Hand

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Dover Downs Named "Best Racino"

/PRNewswire/ - DOVER, DE -- Dover Downs Raceway & Slots, owned by Dover Downs Gaming & Entertainment was named Best Racino in the Country in the October 2003 issue of Strictly Slots Magazine. According to the magazine, Strictly Slots readers chose Dover Downs as their favorite casino/racetrack in the entire country. In fact, the magazine stated that Dover Downs garnered so much voting support that they finally had to create a "Best Racino" category.

"We are proud of the "Best Racino" vote," stated Denis McGlynn, President and CEO of the Company, "especially since the survey polled slot customers across the country. Our strategy of differentiating our property by becoming the region's premier destination resort is clearly paying off. We owe our more than 1,000 employees credit for their commitment to providing all of our customers the best entertainment experience possible."

The Company opened the Dover Downs Hotel and Conference Center in April of 2002 and has been consistently enjoying very high occupancy rates -- averaging more than 93% in the quarter ending June 2003. The luxury hotel has served as the perfect complement to the newly established Platinum Club players program which has shown consistent growth in membership and win since its inception in June, 2003.

Dover recently received legislative approval to expand its operating hours and add 500 new video lottery machines, which the Company believes should be installed by early 2004. The new legislation has also allowed for the introduction of many new "Franchise" games into the State. Regulatory changes will also allow the Company to begin to extend credit to its customers, another plus for Dover's Platinum Club members.

Dover Downs Gaming & Entertainment, Inc. is a diversified gaming and entertainment company whose operations consist of Dover Downs Slots -- an 80,000 square foot video lottery (slots) casino complex; the Dover Downs Hotel and Conference Center -- featuring luxury accommodations with conference, banquet, fine dining, ballroom and concert hall facilities; and the Dover Downs Raceway -- a harness racing track with pari-mutuel wagering on live and simulcast horse races.


Treasure Island to Pass the Buc at Auction

/Las Vegas Gaming Wire / - LAS VEGAS -- The pirates have been vanquished from the new Treasure Island at Spring Mountain Road and the Strip, and the booty they left behind is ready for claiming.

MGM Mirage, holding company for the renamed "TI," will auction the buccaneer memorabilia from the defunct pirate show in the ballroom of Treasure Island starting at 10 a.m. on September 29, 2003.

Treasure Island President Scott Sibella said the items being auctioned have been taken off the two pirate ships, off the floor of the arcade, and out of the resort's restaurants and bars over the past three years and are piling up in a warehouse.

This is the first auction conducted by Treasure Island. "We wanted to do it right," Sibella said, explaining the accumulation of original artwork, swords, costumes, trunks, ceramic pots and sculptures.

Many of the costumes from the former pirate show have been donated to nonprofit groups. Other money raised will be used to defray the cost of the new "Sirens" show that premieres Oct. 26.

"There are some great pieces. There are two bone chandeliers from the Treasure island lobby that had been in storage for eight years, each of which cost $400,000 (originally)," Sibella said. Also included are four major pirate figures from the pirate show's walkway that originally cost $30,000 a piece, he said.

He and Guy Deiro, one of the auctioneers and president of Robert Deiro and Associates, which is conducting the auction, warn that neither pirate ship is being offered for sale on September 29th.

Sibella said representatives from major entertainment companies such as Disney Studios are expected, but Deiro said most of those attending are expected to be local businesses and residents. "Most bidders will be just regular people wanting to buy memorabilia material from Treasure Island they can just carry away," Deiro said.

Some local companies also are planning to bid on the pirate memorabilia, including Victor Bernhard Fine Arts Associates.

"We're interested in the art. It resells very well," said Victor Bernhard, president of the company which specializes in the resale of art items. "Anything made for Treasure Island has a high resale value in our experience. And these aren't copies, but original items made for Treasure Island."

More local residents than businesses showed up Friday to preview the items for sale.

Koleta Blum and her husband, Darel, of North Las Vegas, said they have bought memorabilia at auction from the Aladdin, El Rancho and the Desert Inn and want to add to their collection. "And (my husband) is building me an enchanted garden at home and I thought a treasure chest or a pot from Treasure Island would just add to my treasures," Koleta Blum said Friday.

The sale of more than 500 items originally valued at $2.5 million is expected to net more than $350,000. Registration begins at 8 a.m. The auction is expected to draw between 750 and 1,200 people and last between four hours and six hours.

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