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

The private equity buyout of Harrahs has been approved by the most important regulator.  Other state and tribal approvals will come quickly.  This also makes it easier for buyouts of smaller casino companies in the future.

It's nice to be optimistic. But Congress won't pass, and Pres. Bush won't sign, any bill legalizing Internet gambling during an election year. There are also issues involving online security and states' rights that will take time to resolve. Meanwhile operators, including the biggest, are looking at...

Of course there are similarities, but the differences may be of greater importance.  Growth in Macau will continue to be as spectacular, for a few years, as it was in Las Vegas in the 1990s, until it, too, will be oversupplied.  But California could never require its citizens...

The Gaming Board is asking that the court order losing casino applicants to post enormous bonds to continue their suits.  This forces courts to decide whether casino openings should continue to be held up.

Rep. Barney Frank wants to repeal last year's Unlawful Internet Gambling Enforcement Act, which devastated companies like PartyGaming, Sporting Bet and 888 Holdings. This isn't going to happen, not while Bush is President. But it will help push for an 18 month study, which will then bring changes to...

Texas is seriously thinking about commercial casinos and racinos. But a bill would have to be approved by the legislature and voters, which is not likely. It does lay the groundwork for a more moderate expansion.

The Department of Justice wants everyone to believe they are going to arrest investors, especially underwriters, who helped Internet gaming companies go public. History shows there is little chance the DOJ will actually follow up on its threats. And the timing of this attack is not a coincidence.

Following the arrests of its founders, Neteller now won’t handle bets from the U.S. Neteller itself will probably not be fined or sued. Internet gaming companies will take a short-term hit.

1. The Department of Interior has issued regulations that would allow the Florida Seminole Tribe to deploy Class III (Vegas-style) slot machines if the State of Florida fails to reach an agreement with the Tribe within 60 days.2. The decision increases the likelihood that the Seminole Tribe will get...