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ARGOSY GAMING

Riverboat Casino Ratings Bouyed by Regulations, Demand, Moody's Says

The operators of many of the riverboat casinos along the Mississippi and Ohio Rivers are likely to enjoy smooth sailing as growing demand, limited new supply, and relaxed regulations support stronger operating results and possibly rating upgrades, Moody's Investors Service reports. The rating agency also cautions, however, looser gaming restrictions in one jurisdiction or the strengthening of one casino's position through the addition of new amenities could put pressure on neighboring operations. "Overall, our rating outlook is positive and we expect more upgrades than downgrades of companies in this industry over the next 6-18 months," says Moody's VP/Senior Analyst Todd Gray. "But at the same time, the rising tide for the sector as a whole will not lift all the riverboat operators." Specifically, the analyst says among the companies in line for a potential rating upgrade or positive outlook change are Hollywood Casino Corporation (B3), Hollywood Park (Ba3), Horseshoe Gaming (Ba3), Lady Luck Gaming (B2), Hollywood Casino Shreveport (B3), Players International (Ba3), and Station Casinos (Ba2). Companies more likely to experience either a rating downgrade or a negative outlook change include Alliance Gaming (B2), Majestic Star (B2), Mirage Resorts (Baa2), and President Casinos (Caa1). The analyst points out that many of these companies also operate land-based casinos


Coastal Gaming Group Cleared

Following an investigation, the Broward County Sheriff's Office has cleared Tampa-based Coastal Gaming Group, Inc. of allegations of unlawful gaming activities aboard gaming boat Monte Carlo. The investigation revealed management of Coastal Gaming neither approved, nor had any knowledge of such activities. The company, which provides casino management, consulting and operating services to cruise ships, has filed suit against Boca Casino Cruises, Inc


Two Bills from New Jersey

Assembly Concurrent Resolution (ACR) 89, sponsored by Assemblywoman Nilsa Cruz-Perez (D), proposes a constitutional amendment authorizing the New Jersey State Legislature to legalize riverboat gaming if a bordering state authorizes casino gaming. Also, Assembly 983, sponsored by Assemblymen Kenneth C. LeFevre (R) and Francis J. Blee (R), would prohibit cruise-to-nowhere gaming from New Jersey. Both bills are carried over from last year, and were referred to the Assembly Commerce, Tourism


Pending Federal, State Legislation Threatens

Legislation introduced by U.S. Rep. Frank R. Wolf (R-Va.) could severely damage Florida's offshore gaming industry. Under existing federal law, offshore gaming in international waters is legal, unless state pass laws specifically prohibiting the activity. Wolf's bill (H.R. 316) would reverse the situation, requiring states wanting offshore casino boats to pass laws allowing them. However, state assistant attorney general Jon Glogau said passage of the Wolf bill would instantly nullify the


Are More Casino Boats on the Horizon?

By Larry Pearson While the Casino boat building business has been stagnant for nearly a decade, there maybe emerging opportunities for growth. For naval architects, shipyards, interior designers and marine systems and equipment suppliers the mid 1990's was a heady time. Over 100 casino boats were built during this time. If there are more on the way, it will be a smaller market this time around. The market is not so much for new boats for new jurisdictions


Kelvin Hughes New Entertainment Service

Kelvin Hughes is offering a new crew entertainment package after signing an exclusive agreement with Headland Media. This agreement authorises Kelvin Hughes to sell Headland Media’s film, book, music, sports, and game service, Walport Entertainment On-Board. This will be a new addition to Kelvin Hughes’ existing navigational products. Walport Entertainment On-Board from Headland Media comprises a choice of the latest international film releases and classics


Casino Ship Sold at Auction

According to a report in the Miami Herald: “The gaming ship once operated by St. Tropez Casino Cruises was sold in a courthouse auction Tuesday to a giant ship-management company for $3.8 million. Monaco-based V. Ships topped 11 other bidders to acquire the 30-year-old vessel, which has been anchored off Fort Lauderdale's shores since May when gaming operations were suspended for lack of money.”


Indefinitely Moored Vessel not Subject of Admiralty Jurisdiction

In an unpublished opinion, the US Court of Appeals for the Fifth Circuit ruled that an indefinitely moored gaming vessel is not a vessel for purposes of general maritime law and not subject to the admiralty jurisdiction of federal courts. In the instant case, the gaming vessel was afloat, but had not moved since arriving at its Lakes Charles mooring in 2001. The owners had no intention of moving the vessel. Plaintiff alleged personal injury from a slip-and-fall on carpeting outside the


Jamestown Metal Marine to Construct Casino Vessel

Jamestown Metal Marine Sales, Inc. has been awarded a contract by Blue Chip Casino, LLC, a subsidiary of Boyd Gaming, to construct a new casino vessel at Blue Chip's Michigan City, Indiana facility. The new vessel, which will replace the present vessel, will be approximately 400 ft. in length with a beam of 200 feet and provide about 75,000 square feet of gaming area on a single deck. In addition to the gaming area there will be another 85


Repair & Conversion: Gaming Boat to Live Again

New York-Area Dinner boat Operator Cornucopia Cruises To Renovate 1,200-Passenger Gaming Boat For Excursion/ Charter Operations By Larry Pearson The building of commercial vessels is very much a boom and bust business. Those of you that have been around for a while remembers the oil and gas boom days of the late 1970's and the bust that followed in the 1980's. Most of the southern shipyards did not actually recover from those dog days until the late 1980's when passenger vessel


USNS Fall River Delivered by Austal USA

USNS Fall River: Photo USN

The Navy informs it has accepted delivery of Joint High Speed Vessel, the future 'USNS Fall River' from the Austal USA shipbuilder. The delivery marks a major milestone, the official transfer of the vessel from the shipbuilder to the Navy. USNS Fall River is the U.S


Naval Ships at Baltimore U.S. National Anthem Bi-Centenary

Ensign raised: Photo USN

The U.S. Navy's second joint high-speed vessel, USNS Choctaw County has arrived in Baltimore's Inner Harbor with SECNAV Ray Mabus to join  with other Navy ships to celebrate the Star-Spangled Spectacular, the 200th anniversary of the poem penned by Francis Scott Key that later became the


Exercise KAKADU War Games at Sea Kick Off

Photo: Nicolas Gonzalez

More than 1,200 mariners from the Asia Pacific and Indian Ocean regions have completed the first sea phase of the Royal Australian Navy’s largest maritime warfare exercise, KAKADU 2014. Occurring off the coast of Darwin from August 25 to September 12, 2014


Russia's Shipping Major Reports Strong 1H 2014

Tankship: Photo SCF

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial and operating results for the six months ended 30 June 2014.   Highlights:


TNO Receives 'International Media Award for Prevention'

International Media Award for Prevention

  The Engagementgame developed by TNO in collaboration with partners is the winner of the 'International Media Award for Prevention' in the category Multi Media. This serious game, that trains managers to decrease work related stress and increase work engagement of their workers, is


Too Eager to Drill for Arctic Oil - Greenpeace

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  Greenpeace's ship, the Esperanza, is still on station in the Arctic to expose renewed Norwegian efforts to drill for oil in this pristine environment. Last week Greenpeace successfully headed off attempts by an oil company to complete controversial seismic testing


OSV Hull Arrives at Havyard's Leirvik Yard

NB118: Photo Havyard

Havyard says that newbuild number 118 has arrived from Turkey at the yard in Leirvik, being the first of two vessels that will be outfitted to provide service and maintenance for offshore wind power installations. After a month on tow from Turkey, where the hull was built


Triton’s Yacht-based Submersible to Debut in Monaco

Triton will introduce Triton 1000/3 LP at the 2014 Monaco Yacht Show in September in hopes that the new submersible will transform the yacht based submersible industry. (Image: Triton Submarines)

New lightweight, low profile Triton 1000/3 LP designed specifically to fit into existing yacht tender garages. Triton Submarines (Triton) announced that it will introduce its newest model, the Triton 1000/3 LP (Low Profile) at the 2014 Monaco Yacht show September 24-27


Crew of USCG Cutter Thetis to Return today

USCG Cutter Thetis

  The crew of the Coast Guard Cutter Thetis, a 270-foot medium endurance cutter based out of Key West, Florida, is scheduled to return to homeport Tuesday at 11:45 a.m. following a 59 day patrol in the Caribbean Sea. During a patrol off the coasts of central and South America


Seven NATO Countries End Black Sea War Games

ITS RIMINI berthing alongside ITS AVIERE in port in Burgas, Bulgaria before taking part in Exercise Breeze 2014 (Photo courtesy of HQ MARCOM Public Affairs Office)

Seven NATO countries completed naval exercises in the Black Sea on Thursday, officials said, in a signal of the alliance's resolve to support east European members who have been unnerved by Russia's behavior in the Ukraine crisis. Though scheduled before the crisis erupted


Norwegian Cruise Line Orders Two New Ships

Norwegian Breakaway: Photo CCL cr Dickelbers

Norwegian Cruise Line says it has reached an agreement with MEYER WERFT GmbH of Germany to build two new Breakaway-Plus class cruise ships for delivery in the second quarter 2018 and the fourth quarter 2019. Each ship will be 164,600 gross tons and include 4,200 passenger berths.


Business on the Move: Educational Logistics Game

Business on the Move logo

Leading freight transport insurer, TT Club, apprises of its support for a unique learning initiative – 'Business on the Move'. The educational tool takes the form of a board game which is designed to be played at varying levels of complexity; suitable for primary and secondary school


KBR Extends Contract with AVEVA

AVEVA Everything3D

Expanded contract includes AVEVA Everything3D as part of a complete Integrated Engineering and Design environment AVEVA today announced that KBR, a global engineering, construction and services company, has substantially extended its utilization of AVEVA technology


Board Game Seeks to Transform Supply Chain Learning

Pat Smedley & Andy Page

Three years after its inception, today sees the official launch of an innovative new board game designed to teach young people of all ages about the importance of today’s supply chain in global commerce. The game - Business on the Move - aims to inspire


Adani Ports to Commission Tuna Tekra Terminal by Dec 2014

Image

  Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, will commission its dry bulk cargo handling terminal at Tuna Tekra in a record time by December 2014. The group shared this development with prospective clients during a trade meeting, last week.






 
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