Issue 189
April 26 - May 2, 2004
Volume 4
page 1
 

This Issue

Gaming News
MGM Mirage, Peel may build casinos in UK for 650m

Harrah's unveils $106M expansion

US Rhode Island state ponders casino gambling

Tribe releases design plans for casino in the gorge

Washoes' Indian Hills Casino project moving forward

 

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MGM Mirage, Peel may build casinos in UK for £650m
As reported by The Business Times

US casino company MGM Mirage and UK real estate developer Peel Holdings may build casinos in cities including Manchester and Liverpool for £650 million (US $1.9 billion) to benefit from a possible easing of gambling laws there.

They may also develop casinos and entertainment complexes in Salford and Glasgow, the companies said. US casino companies including Harrah's Entertainment are looking to expand in the UK in case legal restrictions on gambling are relaxed. MGM Mirage is also bidding to acquire Wembley plc to gain dog tracks in London, Birmingham and Manchester.

A UK legislative committee recommended earlier this month that casinos be allowed to install more slot machines and end membership requirements.

MGM owns casinos including the Mirage and Bellagio in Las Vegas.

Peel owns real estate valued at 2 billion, including a 125-acre waterfront site called Glasgow Harbour, where the two companies may build one of the developments.

MGM Mirage, which gets about two-thirds of its profit from Las Vegas, said in October it may spend 150 million to build a casino in London's Hammersmith in partnership with Earls Court and Olympia.

About 70 per cent of UK residents gamble, mostly on the lottery or at betting offices, according to Merrill Lynch & Co.

About 3 per cent to 4 per cent of the population visits casinos, providing an opportunity for growth.


Harrah's unveils $106M expansion
As reported by The Business Journal

Harrah's Entertainment Inc. will break ground in May on a $106 million expansion at Harrah's North Kansas City Casino and Hotel, a company official said Friday.

The project will include a 206-room expansion to the hotel, which currently has 200 rooms, said Bill Keena, senior vice president and general manager of Harrah's Missouri operations, which includes North Kansas City and St. Louis.

"We want to get back into being able to compete with the recent money that Argosy put into their place and to compete with Ameristar, and we need to infuse capital dollars in order to do that," Keena said.
Argosy Casino in Riverside opened a $105 million renovation on Dec. 11.

The Harrah's North Kansas City project also includes renovation of the casino floor and one bar, the addition of one bar, new slot machine signage and an expansion of the parking garage that will roughly double the number of parking spaces, Keena said.

The company plans to finish the casino renovation and expansion by year's end and the hotel expansion by August 2005, he said.

The company might add some employees to the casino as part of the project, Keena said. The company's North Kansas City operation has 1,400 employees.

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