Massachusetts
tribe pushes for resort casino
As
reported by The Boston Herald
MASSACHUSETTS
-
"Casino gambling could be a step closer to arriving
in the Bay State , as a newly recognized Indian tribe
asserts it can open a giant gambling resort without state
approval.
"In a
move that could shake up the long-running debate in Massachusetts
over legalizing casino gambling, the Mashpee Wampanoag
tribe insists it has the legal right to open a resort
casino built around so-called 'bingo slots.'
"And if
Beacon Hill continues to oppose expanded gambling, the
tribe believes it can go ahead and open a gambling complex
anyway, following a path blazed by the now-casino-rich
Seminole Tribe, spokesman Scott Ferson told the Herald.
"…The
tribe is scouting sites in Southeastern Massachusetts
for a giant gambling complex, looking at Plymouth, Middleboro
and New Bedford. Backed by a deep-pocketed Midwest casino
developer, the tribe is looking for more than 300 acres
near a major highway.
"…
But tribal leaders would much prefer to negotiate a deal
with Gov. Deval Patrick and other state officials that
would lead to the legalization of a full-fledged casino
with slot machines, rather than just bingo slots, Ferson
said. Bingo slots, while lucrative, bring in just an estimated
two-thirds of the cash that pours into full-fledged casinos…"
Atlantic City casinos post record
results
As
reported by The Press of Atlantic City
ATLANTIC
CITY, N.J. - "The
gaming industry overcame the loss of the Sands Casino
Hotel and an unprecedented three-day shutdown over the
summer to post a record $1.4 billion in gross operating
profits for 2006.
"Paced
by double-digit growth at four of the 12 casinos, earnings
rose 5 percent for the year and 4 percent in the fourth
quarter, according to figures released Wednesday by the
New Jersey Casino Control Commission.
"…Casinos
also showed growth in net revenue, which increased 4 percent
in 2006 to a record $5.07 billion. Net revenue was up
nearly 2 percent in the fourth quarter, to $1.2 billion.
"A
robust fourth quarter helped offset a summer shutdown
that cost the industry an estimated $50 million to $55
million in revenue. Casinos closed down July 5-7 when
New Jersey's state budget crisis forced gaming inspectors
off the job for the first time ever.
"Moreover,
the fourth quarter was strong despite the demise of the
Sands, which closed for good Nov. 11 to make room for
development of a new $1.5 billion megaresort in its place.
"Atlantic
City Hilton Casino Resort, Bally's Atlantic City, Trump
Plaza Hotel and Casino and Tropicana Casino and Resort
all posted double-digit increases in gross profits for
the year. Earnings at Trump Marina Hotel Casino, Trump
Taj Mahal Casino Resort and Caesars Atlantic City rose
by single digits…"