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
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
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
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
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
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
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.”
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
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
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
A model of the hi-tech WSD 1000 MPSV, a multi-purpose offshore supply vessel with a unique fuel-efficient design, proven hull lines & an integrated equipment package from Wärtsilä, will be on display at the upcoming Expo. In addition to this and other exhibits
Marine and fire safety equipment leader VIKING Life-Saving Equipment (VIKING) and MOL Techno-Trade Ltd. (MOLTECH) have entered a strategic alliance and sole agency agreement, establishing MOLTECH as the exclusive agent for VIKING in Japan.
Claxton Engineering Services Ltd, a member of the Acteon Group’s risers, conductors and flowlines business, has celebrated the 10th anniversary of its success with the world’s first rigless platform well abandonment operation.
The Switch is a Finnish manufacturer of permanent magnet motors, generators and converters which recently launched what it dubs as a ‘next-generation drive train’ for energy efficient power generation and propulsion of merchant vessels
Ocean Aero has designed a 'game-changing' ruggedized surface & sub-surface vessel: the "Submaran", powered by wind and solar, capable of several months at sea that can be deployed from land, sea or air. The designers will present it at the Blue Tech & Blue Economy Summit
The Russian Navy has had to withdraw its ships from attending this month’s International Fleet Review. The Chief of the Royal Australian Navy, Vice Admiral Ray Griggs, said the unfortunate change of plans was due a change in the positioning of the Russian ships.
Observers have hailed the recent opening of the FTZ as the country's most significant reform push since the creation of Shenzhen Special Economic Zone more than three decades ago. 23 measures will be adopted to free up six areas of the service sector reports Xinhua.
Salvage crews began tow operations for the fishing vessel Lone Star near Dillingham, Wednesday, the U.S. Coast Guard reported today. The crew of the tug Double Eagle, with assistance from the crew of the support vessel Western Viking, will tow the Lone Star to Dutch Harbor where its owner will
In preparation for the 2014 World Cup, followed by the Olympic Games in 2016, Rio de Janeiro State in Brazil has decided to greatly expand the transport capacity of the Rio de Janeiro – Niterió shipping route. An order has been placed with Afai Southern Shipyard China for the building
Videotel is pioneering a new form of training delivery, designed to respond to the demands of the post internet age. It is moving to the ultimate in interactivity, by using gaming technology for serious purposes. Using serious games technology
The Navy is hosting an online collaborative event to solicit input from a broad, diverse audience in hopes of generating innovative ideas on how to best maintain the capabilities and capacity of the Navy and mitigate risks in an era of constrained resources.
Argosy Barge Lines, LLC of Bellaire, Texas, accepted the Madelaine-D 2502 as the newest addition to their fleet in March 2013. The ABS-classed deck barge was built by Sterling Shipyard of Port Neches, Texas. The barge was designed by Bristol Harbor Group, Inc
Andrew Sheriff, Business Director Safety at Wilhelmsen Ships Service (WSS) spoke to leading cruise industry representatives at the recent CLIA Leadership Forum in Miami, explaining what drives his team when it comes to continuously developing its portfolio.
The second ship, 'Anthem of the Seas', in the new Quantum class will become the most technologically advanced cruise ship ever to be based in Europe, when it is launched in spring 2015, say owners Royal Caribbean International. The ship's first homeport will be Southampton, UK.
About 85 people have been injured, six of them seriously, when the high-speed ferry hit an unidentified object while travelling to the gaming mecca of Macau reports BBC News. The accident, which threw many of the 100+ passengers out of their seats