The Adams Daily Report

Thursday, September 22, 2005

Storm-hit casinos could get lucky on tax breaks

Mississippi/Louisiana (Katrina) - Jonathan Weisman, Washington Post - National gambling companies - already rushing to rebuild casinos on the Gulf Coast - would be granted access to millions of dollars in tax breaks under President Bush's plan to entice businesses into the Katrina disaster zone. In a break from previous Gulf Coast economic development practices, White House officials said they do not plan to exclude the gambling industry from huge tax write-offs for investment in equipment and structures in the president's proposed Gulf Opportunity Zone. Mississippi Gov. Haley Barbour (R) endorsed that policy yesterday, saying, "They should be treated like any other business. That's the way we do it in Mississippi."

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Harrison County wants casinos ashore

Mississippi (Biloxi) - Tom Wilemon, Biloxi Sun Herald - The Harrison County Board of Supervisors unanimously approved a resolution Wednesday asking the Legislature to amend state law and allow casinos to move ashore within 1,500 feet of their current locations. Specifically, they endorsed putting casinos within 1,500 feet from the mean high tide line of the Bay of Biloxi, the Mississippi Sound and the Bay of St. Louis. Casino companies would have to contiguously own the property from the water except for highway easements and other public rights of way. The measure would be limited to only those possessing a valid gaming license as of Oct. 1 - two days after the next scheduled meeting of the Mississippi Gaming Commission. The tight window would allow partially permitted casino projects, such as Bacaran Bay and Havana Casino, to complete their application processes. More

Having a blast at Grand Casino

Mississippi (Biloxi) - Associated Press - The Grand Casino Gulfport, one of the glitzy gambling barges that helped turn Mississippi's Gulf Coast into a tourist magnet, went bust Wednesday - literally. Three controlled explosions in rapid succession brought down a 50-foot-tall section of the casino that was heaved onto U.S. 90 when Hurricane Katrina roared ashore Aug. 29. The Mississippi Department of Transportation, which oversaw the demolition, hopes to reopen the stretch of highway in downtown Gulfport within 10 days, spokeswoman Gae Blain said...The Grand is owned by Las Vegas-based Harrah's Entertainment Inc., which had two of its four other Mississippi casinos damaged by the storm. More

Hurricane delays appeal of ex-governor

Louisiana (Katrina) - Kevin McGill, Associated Press - Former Louisiana Gov. Edwin Edwards, whose latest appeal of his 2000 racketeering and fraud corruption conviction was to have been argued in New Orleans next week, will have to wait a while longer because of Hurricane Katrina. Edwards, 78, is serving a 10-year federal prison sentence for extorting money from applicants from riverboat casino licenses in Louisiana. If his appeal fails, Edwards will not be released before July 2011. More

McCain seeks more control of tribal gaming

National (Indian gaming) - Tony Batt, Stephens Washington Bureau - A recent court decision may speed efforts by Sen. John McCain, R-Ariz., to strengthen federal regulation of Indian gaming. On Aug. 28, U.S. District Judge John Bates of Washington, D.C., ruled the Indian Gaming Regulatory Act of 1988 does not empower the federal government to issue or enforce regulations on tribal casinos. Instead, regulation is controlled by compacts negotiated between state and tribal officials, Bates said. McCain, chairman of the Senate Indian Affairs Committee, on Wednesday questioned the logic of the judge's ruling. He said the 1988 act created the National Indian Gaming Commission to regulate Indian casinos. "In light of this recent court decision, it seems to me for us to do nothing. ... I think we would not be carrying out our responsibilities appropriately," McCain said.McCain has led a series of hearings this year on amending the Indian Gaming Regulatory Act. "I have a recurring fear that there is going to be some scandal out there, as there is from time to time in non-Indian gaming, which is not under our jurisdiction," McCain said. "But Indian gaming is." More

Tribe, feds ink gaming deal

First Indian tribe in the nation to receive federal approval to offer casino-style gambling without a tribal-state compact. Wyoming (Indian gaming) - Brodie Farquhar, Jackson Hole Star-Tribune - Wyoming's Northern Arapaho Tribe on Wednesday became the first Indian tribe in the nation to receive federal approval to offer some forms of casino-style gambling without a tribal-state compact.Associate Deputy Secretary of the Interior for Indian Affairs James Cason approved the tribe's "gaming procedures" on Wednesday, the Arapaho still have a procedural hurdle to cross to offer the full gamut of Las Vegas-style games -- an amendment to the newly approved document. Tribal attorney Andy Baldwin indicated that he was confident the amendment would be forthcoming. Jim Conrad, chief executive officer of the tribe's Wind River Casino, said several new Class III games will be installed right away at the tribe's current operation south of Riverton -- before the tribe completes construction of a new $10.3 million casino nearby.because federal courts found that the state of Wyoming had failed to negotiate with the Northern Arapaho in good faith. Under the Indian Gaming Regulatory Act, that meant direct negotiations between tribal and federal officials, culminating with Wednesday's action by Interior's Cason. More

Sac & Fox Nation wants refinery, casino

Oklahoma (Indian gaming) - James Gutzmer, CNHI News Service - If everything goes the way the Sac & Fox Nation plans, Cushing will grow by leaps and bounds over the coming years, creating hundreds, maybe thousands, of new jobs.Sac & Fox Nation is working on three major projects. The tribe is looking into building a refinery and the Black Gold Casino in the Cushing area. The Sac & Fox are also looking into bringing in a company from China...The project that is closest to happening will be bringing in a company from China that builds small utility vehicles like the ones seen on the streets of many Asian countries. The Sac & Fox are looking at putting the company at the Cushing Industrial Park. "The company builds small utility vehicles common overseas. You probably have not seen anything like them in the United States," said Katz. More

Councilman wants wider casino options

Ohio (legislation) - Mike Sakal, Lorain Morning Journal - An ordinance soon will be before City Council that would allow Mayor Craig Foltin to negotiate with groups other than the Eastern Shawnee tribe seeking sites for Las Vegas-style casinos. Councilman Tony Krasienko, D-3, said yesterday he wanted to propose the ordinance so more groups interested in placing a casino on the former pellet terminal site or the Black River Landing could negotiate with the mayor, with council ultimately approving any agreement. Krasienko submitted the ordinance to council yesterday. It will be placed on the agenda of the Oct. 3 meeting. ''I think the majority of people in Lorain want a casino,'' Krasienko said. ''I saw how the discussions were going in the way of possibly wanting to repeal the proposed purchase option agreement. I just want to make sure Lorain isn't left out of the piece of the pie when something is brought to the table and gambling is discussed again in Columbus.''
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AGA Examines Community Leaders' Perspective on Casinos

National (survey) - According to the results of a survey published as part of the latest release in the American Gaming Association's (AGA) 10th anniversary white paper series, many officials and community leaders across the country appear to have an astonishingly positive outlook on the impact of casinos in their communities. The most surprising finding is that 75% of community leaders reported that they would vote to allow casinos in their regions if they had the possibility to go back in time and start all over again. The paper, entitled "Community Leaders' Perceptions of Gaming Industry's Effects," was written by Peter D. Hart, CEO of Peter D. Hart Research Associates. It summarizes information collected from over 200 local community leaders in areas having commercial and racetrack casinos. One of the interesting findings listed in the survey is that most of the leaders reported that the presence of casinos turned out to be better than they had anticipated, and the vast majority of the remaining participants reported having had their initial expectations met. In addition, over two thirds of the survey takers declared that the casinos have generated a net increase for their states and local communities.. More

Death On The Strip: Car plows into crowd

Nevada (Las Vegas) - Frank Geary, Brian Haynes and Jens Manuel Krogstad, Las Vegas Review-Journal - A car jumped a curb and plowed into a group of pedestrians on the Strip Tuesday, killing one and injuring 13 in what Las Vegas police said was an intentional act. "He just drove onto a wide section of the sidewalk and took out all those people," Sheriff Bill Young said. "He is a bad guy, and it looks like it may have been intentional. ... All I know is that he stole his mother's car and that he had had a bad day at drug court." More

Peppermill's $230 million expansion

Nevada (Reno) - Associated Press - In the works for six years, the Peppermill Hotel-Casino unveiled plans Thursday for a $230 million expansion, including a 17-story, all-suite hotel tower. In addition to the new hotel tower with 600 rooms, the blueprint calls for retail shops, a two-story nightclub and more than doubling existing convention and exhibition space to a total of 90,000 square feet. The casino floor will grow 14,000 square feet to a total of 94,000 square feet to accommodate 300 new slot machines and 12 new table games, Peppermill officials said at a news conference Thursday. More

Harrah's sells $1 billion in notes

National (finance) - Harrah's Entertainment Inc. sold $1 billion in 10- and 12-year notes to repay debt. The company privately placed $250 million of its 5.625 percent senior notes due in 2015 and $750 million of its 5.75 percent senior notes due in 2017, Las Vegas-based Harrah's said in a statement sent today by Business Wire More

Place your bets on Coventry
International (UK) - Fiona Scott - Coventry is prepared to go head to head with Blackpool in a battle to open the country's first "resort" casino. The backers of the city's proposed super casino at the Ricoh Arena issued a rallying cry for the public's support. A campaign, backed by MPs, business leaders and community groups, was launched today to set out the case for Coventry. The government is expected to chose just one city to pilot a large regional casino and, so far, Blackpool has been the hot favourite. The ace in their pack is that American firm Isle of Capri is already committed to open a massive underground casino at the arena next year. They have signed a contract with Arena bosses, have the backing of the city council, have planning permission and a gaming licence for a smaller operation. All they need is the nod from Whitehall. Isle of Capri UK director John Brackenbury said: "We could be up and running by mid to late 2006 and it would take three to five years before another pilot scheme could get off the ground elsewhere." More