Issue 215
October 25- 31, 2004
Volume 4
page 2
 

Mohegan Tribe Agree to Manage Wisconsin Casino
As reported by The Associated Press

UNCASVILLE, Conn. - In a push to broaden its business market, the Mohegan Tribe has announced plans to manage a proposed Wisconsin casino.

The Mohegans, which own and operate the Mohegan Sun Casino, announced Friday they have signed a seven-year management agreement with the Menominee Indian Nation to run the tribe's planned casino in Kenosha, Wis.

The Mohegan Tribal Gaming Authority will receive a percentage of revenues for managing the casino resort, which is expected to open in 2006.

``I think this is a precedent-setting pact between two tribes,'' said Joan Delabreau, chairwoman of the Menominee Indian Tribe. ``I think if other tribes do what the Mohegan tribe has done, you will see the end of those big deals with Las Vegas companies.''
The Menominees plan to build a 160,000-square-foot casino at a former dog track in Kenosha. The tribe estimates the casino will cost $800 million to build.

The Mohegan Tribe invested $3.1 million in the project earlier in the year.

Last week, the tribe announced it will buy a 400-acre Pennsylvania horse racing track, Pocono Downs, for about $280 million. The deal also includes five off-track betting operations in Carbondale, East Stroudsburg, Erie, Hazleton and Allentown. The Mohegans can apply for a license to operate up to 3,000 slot machines at Pocono Downs.

 

 

 


GBP £5 million casino approved for Mecca Dundee
As reported by The Dundee Evening Telegraph and Post

DUNDEE, England - Yet another bingo hall is looking to take advantage of forthcoming gambling deregulation by introducing casino facilities. A new £5 million casino, which will create almost 100 full and part-time Dundee jobs, has been given the go-ahead by the city's licensing board.

The casino, operated by Grosvenor Casinos Ltd, will be located on the first floor of the existing Mecca Bingo Club in Nethergate.

A major programme of conversion work is to be carried out to the premises with the casino expected to be open for business early in 2006.

Dundee's licensing board today unanimously agreed to grant an application for a new gaming licence for the casino. Board members were furnished with the results of a survey of Dundee residents to establish their likely useage of the venue.

Just over a quarter of the interviewees said they would use the new casino, and 23% of those who said they would visit, indicated they would do so at least once a month.


Caesars to Sell Bally's Casino New Orleans
As reported by The Associated Press

LAS VEGAS, Nevada - Caesars Entertainment Inc. has agreed to sell its Bally's Casino New Orleans for about $24 million, company officials said Friday.

An affiliate of Columbia Sussex Corp., a Fort Mitchell, Ky.-based hotel operator, will buy the property. The transaction is expected to be completed by June 2005 and is subject to regulatory approval.

Columbia Sussex and its affiliates operate 64 hotels, including the Westin Causarina in Las Vegas.

Caesars Entertainment said it expects to report no gain or loss on the transaction.

The Las Vegas-based company reported a 21 percent rise in third-quarter profits on Thursday. Caesars is being acquired by Harrah's Entertainment Inc. in a $5.2 billion deal.

Harrah's and Caesars had previously announced that negotiations were under way to sell four casinos to reduce antitrust concerns involving the merger. Bally's New Orleans was not one of the properties mentioned, although Harrah's owns a casino in downtown New Orleans.

Gladys Knight

 

Flamingo Las Vegas: Gladys Knight, a Rock and Roll Hall of Famer and 10-time grammy award winner, performs at the Flamingo Las Vegas.

Date: Tuesday - Saturday

Price: from $65.00

Time: 7:30pm

 

For more information please call: (702) 733-3333

 
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