Issue 198
June 28 - July 4, 2004
Volume 4
page 2
 

Mexico looks at legalizing gambling
As reported by The Valley Morning Star

REYNOSA - "Buenas" and "Ya gané" may be common winning phrases in Mexico, but there is one that is never heard.

"Jackpot."

Since 1947, the Mexican government has prohibited casinos and gambling. However, with a recent push from several Congress members and representatives from the Reynosa Chamber of Commerce, that might soon change. There is an initiative now under review in the Mexican Congress that would revise La Ley Federal de Juegos y Sorteos, the anti-gambling law. Congress will vote in September.

"Right now for the first time we have that initiative," said Patricio Mora, a member of CANACO, the Reynosa chamber of commerce. He also is president of Centros Turisticos Internacionles y de Entrenimiento de Mexico S.A. de C.V. (International Tourism Centers and Entertainment of Mexico). "It's important because we are talking about 2,000 direct jobs and indirectly 7,500."

"It's one of the most debated issues in tourism, commerce and economy," said Lic. Camilo Martínez Cortez, CANACO president in Reynosa.

He said legalizing gambling and casino investment would give Mexico a new competitive edge. Because gambling and casinos are illegal in Texas, there is a potential market for Rio Grande Valley residents to take day or weekend trips to nearby Mexican cities.

"We are thinking we can do hotels, restaurants, areas of business," said Onésimo Esquivel Loredo, CANACO president in Matamoros.

Despite the potential negatives, Mora believes casinos will be a necessary economic boost for Mexico.

Even if the Mexican Congress approves casinos, actual development still is about two years away, Mora said. He said he would seek investment from U.S.- and Mexico-based companies.

 

 

 


Lawrenceburg City Council Approves Tax Credit Plan for Argosy Casino

ALTON, Ill. -- The City Council of Lawrenceburg, Indiana has unanimously approved an agreement between the city and Argosy Casino & Hotel that provides the economic incentive for Argosy Gaming Company to consider an expansion at the casino complex. The action is the first step for Argosy, the Tri-State's top tourist attraction, in moving towards additional capital investment at the Lawrenceburg resort. The full scope of the project is still under consideration, and the company expects to finalize details over the next several months.

"The city's decision to partner with Argosy on their proposed expansion is an investment in the future of Lawrenceburg and Dearborn County," said Lawrenceburg Mayor Bill Cunningham. "Anyone that lives in Lawrenceburg or Dearborn County knows that the impact of the jobs, local purchases and tax revenue generated by Argosy has greatly improved the quality of life throughout the county. We want to continue that progress."

The agreement includes a tax credit for the expansion or redesign of the property through a reduction in local taxes of up to $5 million per year for a period of ten years. The credit would be available after Argosy generates a minimum of $30 million in revenue for the city each year, provided Argosy re-invests at least the amount of the tax credit in improvements to its property.

"This action by the City of Lawrenceburg recognizes that Argosy's presence has been good for the city and acknowledges that Argosy's future success will mean continued growth and prosperity for Lawrenceburg," said Richard J. Glasier, President and Chief Executive Officer of Argosy Gaming Company. "We're excited about the possibility of improving the gaming experience for our customers with a project that we expect will also add jobs and revenues to the community."

 

One-Millionth Fan to Meet Celine and Receive Luxury Package
at Caesars Palace

LAS VEGAS -- During the course of the next few weeks, a very lucky fan will purchase the one-millionth ticket to A New Day..., featuring Celine Dion, created by DRAGONE and presented by Chrysler at The Colosseum at Caesars Palace, Las Vegas. As part of the celebration, Celine will personally award this fan a special plaque commemorating the one-millionth ticket sold.

In addition to a private meet and greet with Celine Dion at the show, the ticket holder and one guest will also receive a spectacular VIP stay at Caesars Palace. Dubbed "Live Like A Millionaire," this luxurious package will include two nights suite accommodations, limousine transportation for the duration of the stay, use of spa and fitness center services at The Spa at Caesars Palace, a round of golf for two at Caesars exclusive golf course Cascata, complimentary meals at any Caesars Palace restaurant, $1000 shopping spree at the Celine Dion Boutique, a Celine Dion CD catalog, an upgraded pair of front row tickets to A New Day... and $2,500 in Caesars Palace promotional gaming chips.

"I can't wait to meet the lucky winner and make this presentation," said Celine Dion. "It's hard to believe we will have played for a million people in this intimate theatre. We are so fortunate for the way that the fans have supported our show."

Celine Dion

Caesars Palace: Celine Dion, who shares the stage with an international cast to mesmerize audiences with a fusion of song, dance, theatre, and technical innovation, performs at The Colosseum at Caesars Palace.

Date: June 30 - August 18, 2004

Price: from $79.55

Time: 8:00pm

 

For more information please call: (702) 866-1400

 
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