GLG News by Gaming / Casinos Experts: Lawyers (US)

The buyers' willingness to pay a $225 million kill fee and an interest free loan of $1.25 billion shows that things are as bad as they seem -- not for gaming, but for banks.  Penn Gaming gets an enormous influx of cash, making it even more attractive for future buyouts. ...

Lyle Berman, head of Lakes Entertainment (LACO), is running a smart campaign to get voters to approve a monopoly casino for Ohio.  History is against him.  But the economic downturn is a major boost, and the timing of the area's largest employer leaving could not be better.

Besides the short-term financials, there are good reasons for the deal to be completed.  One item that has not been mentioned in the news coverage is that gaming regulators hate being misled, and the gaming industry is fairly small.  If Fortress or its banks back out completely, they...

This is from Focus on the Family, openly opposed to all gambling.  The situation in Rohnert Park was unique, and the project still has a long way to go.

A bill to bring casinos to Kentucky is moving forward.  If it passes, it will bring competition or opportunities, or both, to some familiar gaming companies.  But it won't become law this year.

Congress accidentally clarified that intra-state gambling is legal.  California, with a population greater than Canada and an established card club industry will be a great market, if a political compromise can be reached.  This could be an opening for publicly traded Internet gaming companies,...

I almost forgot the tracks, which are now begging for slots or a share of the tribes' profits, and the clubs.

Slot machine manufacturers won, but this is short-term bad news for Harrahs and Trump.  It is probably very good news for Lakes Entertainment.  There are about 11 other tribes that will now make deals for more slots, again good for the manufacturers.

The first legal hurtle has been passed, making it easier for the Supreme Court to uphold the law.  The only issue is whether the State Lottery "owns and operates" these casinos, and the enabling statute has been carefully written.  So, the four established Indian casinos in Kansas will be...

Gov. Crist negotiated a deal giving the Seminoles true slot machines and banking card games, like blackjack, in exchange for payments to the state.  This was a windfall for IGT and other slot manufacturers.  The governor exceeded his authority.  But the state legislature will ratify...