Issue 169
December 8 - 14, 2003
Volume 3
page 2
 

Casino opens restaurant
named after founder
As Reported by The Post-Tribune

Hammond - Jack Binion may be in the process of selling his Horseshoe Casino here to Harrah's, but that didn't stop him from traveling to the Hammond site for a preview opening of a new restaurant bearing both his initials and signature burger.

In fact, adding a restaurant with the Binion name is a logical step because Harrah's insists it plans to keep the Horseshoe name and brand when it takes over, said Rick Mazer, senior vice president and general manager.

After the sale, Binion is planning to stay on as a consultant.

"In Las Vegas, there's Rio, and it's owned by Harrah's but it's still Rio," he said.

"They paid for the name, so they plan on using it," Mazer said.

The 1,000-square-foot, $700,000 restaurant, called JB's Gourmet Sandwiches & Salads, is the last addition in the $15 million expansion Horseshoe undertook before striking a deal to sell its properties to Harrah's, said Roger Wagner, president and COO for Horseshoe.

That deal, originally set for completion in January, is awaiting regulatory approvals. It is expected to be completed at the end of the second quarter 2004.

JB's Gourmet Sandwiches & Salads will officially open to the public on Monday. Offering foods ranging from spicy pork paninis to roasted octopus with curry sauce, the new restaurant seeks to cater to the more discerning palate while doing it quickly.

Horseshoe is known for its food, according to George Corchis, vice president and assistant general manager, who spearheaded the JB project.

"Food is an anchor for Horseshoe," Corchis said. "We intend to show the epitome of customer service while serving gourmet express food."

The restaurant, located where the gift shop once was, sits at the entrance of a second parking garage now under construction.

"The main thing is, like all the restaurants, I think (JB's) is going to be what draws people here."

 

 

 

 

Alliance Gaming to Sell Nevada Casino to Sands Regent

Las Vegas--Alliance Gaming Corp. agreed to sell its Sparks, Nev., Rail City Casino to Sands Regent for about $38 million.

The slot-machine and gaming technology company said the sale is consistent with its plan to divest non-core assets when the timing and selling price are right.

The deal consists of $35 million in cash and $3 million of subordinated debt provided by Alliance.

The Rail City Casino, located just outside of Reno, Nev., has been profitable for the company over the past six years, Alliance said in a press release Monday, despite growing competition from Native American-owned casinos in California.

Sands Regent, which operates its flagship casino in Reno, said it is looking to expand within the Reno-area market.

Alliance Gaming sold its Bally Wulff unit in July and plans to close early next year the sale of its gaming route operations, including the Las Vegas-based United Coin Machine Co. and the New Orleans-based Video Services Inc.

Float for phone gambling firm

A mobile phone gambling firm is close to appointing advisers for a flotation next year. Million-2-1, which runs text message lotteries for charities and sports gambling games, is expected to be valued at about £50m. Chief executive Chris Sheffield is holding talks with Arsenal and its shirt sponsor mmO2 over match-day lotteries for the club.

Sheffield, a former IT consultant with Deloitte & Touche, said the firm was within days of finalising a £2m pre-flotation shares deal. Until now he has funded the firm with the proceeds of the sale of web design group Eunite to N Brown Group in 2000 for £18m, 15 months after it was launched.

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