Casinos at Issue in Governor’s Race

Seattle Casino Undergoes Bankruptcy - SEATTLE, WA - Funsters Grand Casino Inc. has filed for bankruptcy protection little more than a year after opening what promised to be the first in a chain of Las Vegas-style gaming facilities. The company, co-owned by Seattle restaurateur Gerry Kingen, cited debts between $1 million and $10 million in a voluntary Chapter 11 bankruptcy filing last week. The move comes less than six months after the Washington State Gambling Commission filed a complaint alleging that the company's SeaTac casino didn't have enough money on hand to pay its progressive jackpots or to pay winners for their chips, and that it was behind on paying its gambling taxes. Funsters intends to reorganize and ultimately emerge from bankruptcy protection, said Jan Ostrovsky, a lawyer for the company. The company's casino is expected to remain open during the bankruptcy.

Visitors to Las Vegas Expected to Rise - LAS VEGAS - The number of visitors to Las Vegas is estimated to increase by about 8.5 percent from September to December compared to the year before, ending nearly a year of declines and offering further indication that the Las Vegas market is on the road to recovery. That's according to a representative from the Las Vegas Convention and Visitors Authority who spoke to a group of casino marketers Friday. The figures are only preliminary forecasts, LVCVA research director Terry Jicinsky said during last week's Global Gaming Expo. The agency expects to release more detailed monthly data over the next several months. The increase is good news, he said, though reaction should be tempered by the fact that last year marked a significant drop from 2000. "How we present the data will be a challenge," he told the group.