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

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...

On Dec. 31, 2007, I posted an analysis here that Columbia Sussex's bondholders would probably get paid.  This was based on Nevada not revoking its license.  Now, new trouble at the Tropicana and River Palms might mean the company cannot meet the state's financial standards.  The properties...

Federal law outlawed sports betting, except in states where it was legal in 1992.  For a state, or a tribe in a state, which did not have legal sports betting then, either Congress would have to change the law, which will not happen, or a court would have to throw out the ban, which is possibl...

"Junkets" in Macau are not like junkets to U.S. casinos.  This could be a major blow, and shows that competition is heating up sooner than expected.  It also raises questions of competing in Macau against experienced locals.

The loss of the New Jersey license for the Atlantic City Tropicana technically put the company into default on its bonds.  However, Credit Suisse and the other lenders have agree to hold off bankruptcy for one year.   This means the bondholders will probably get paid off 100%, but...

The $31.5 million fine is not significant.  But the DOJ has subtly expanded the war, by including claims of violating "municipal" laws.  This is bad news for anyone who is thinking about placing or taking ads.