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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


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


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


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


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.


Bollinger Delivers 10th FRC to the USCG

Bollinger delivered the 10th Fast Response Cutter, Raymond Evans, to the U.S. Coast Guard on June 25, 2014. (Photo courtesy of Bollinger)

Bollinger Shipyards, Inc. has delivered the Raymond Evans, the 10th Fast Response Cutter (FRC) to the United States Coast Guard (USCG). The announcement was made by Bollinger President, Chris Bollinger: “We are extremely proud to announce the delivery of the Raymond Evans


Brazilian Ports Pause for World Cup Matches

Marcelo of Brazil is challenged by Hector Herrera of Mexico (Photo courtesy of FIFA)

Football fever is so intense in Brazil, the host of the World Cup soccer tournament, that even the main shipping ports in the commodity-exporting powerhouse are shutting down when the national team plays. In Paranagua, Brazil's No. 2 soy exporting port


German Shipbuilder FSG Launch Second Seismic Vessel

Amazon Conquerer launch: Photo FSG

Flensburger Schiffbau-Gesellschaft (FSG) says it has launched a second offshore seismic survey ship 'Amazon Warrior' for owners WesternGeco. FSG explains that the newbuilds Amazon Warrior and Amazon Conqueror are seismic ships are 127 metres long and 28 metres in breadth and the largest in the


Rolls-Royce's MTU Invites Participants For FUNSports³ Events

On September 27, 2014, the focus will be on running, climbing and playing at the FUNSports³ event   at the Forstwiesen in Immenstaad. For the second time, Rolls-Royce Power Systems subsidiary MTU   Friedrichshafen, BKK MTU and the Mercedes-Benz plant in Ravensburg are inviting keen runners from   the Lake Constance –Upper Swabia region as well as company employees and their families to this   event.   Whether they choose running, walking or relay, all participants have to complete a 12 km course

  On September 27, 2014, the focus will be on running, climbing and playing at the FUNSports³ event at the Forstwiesen in Immenstaad. For the second time, Rolls-Royce Power Systems subsidiary MTU Friedrichshafen, BKK MTU and the Mercedes-Benz plant in Ravensburg are inviting keen


Coast Guard Forces Back Illegal Mexican Fisherman

Coast Guards FALCON

  A patrolling Coast Guard aircrew spotted, pursued and compelled a lancha across the U.S./Mexican border, Friday, after the lancha was spotted poaching in U.S waters. At 2:30 p.m., a Coast Guard aircrew aboard an HU-25 Falcon aircraft spotted the 25-foot lancha fishing 45 miles offshore


Holland America Line's ‘K’s For Kids’ Partnership With Seattle Mariners

Holland America Line

  Holland America Line announced their new “K’s for Kids” donation program with the Seattle Mariners in a pre-game ceremony at Safeco Field on May 29. For every strike out recorded by a Mariners pitcher at Safeco Field through the end of the 2014 season


Arctic Energy Exploration: Not If, But When?

Energy exploration in the Arctic has been a hot topic in recent years and shows no signs of cooling down anytime soon. However, the United States appears stuck in neutral on the topic and those opposed to oil and natural gas exploration anywhere have used the Federal inaction to advance their


Coast Guard Seizes Illegal Catch, Crew Member Injured

US Coast Guard

  The Coast Guard interdicted a Mexican fishing crew poaching in South Texas, Thursday, after it was pursued by a Coast Guard aircraft and intercepted by the 87-foot Coast Guard Cutter Cobia. In an unrelated incident after intercepting the lancha






 
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