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
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
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
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 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
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.”
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 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
Tidewater Subsea has reached a deal with Bordelon Marine to charter the newly built Jones Act compliant MV Brandon Bordelon for 60 days, plus options. The vessel is intended to be available to work in the U.S. Gulf of Mexico, Mexico and Trinidad, Bordelon Marine said.
Containership owners have experienced some tough times in recent years, and early in 2015 it looked as if things might at last be on the up, says Clarksons Research. However, last year proved to be the classic ‘game of two halves’
North P&I Club Warns on Downsides of "Big Data" on Ships There is no question that the era of "Big Data" -- and all that those two words encompass -- will be transformational in the maritime market for the coming generation
Classification society Bureau Veritas is classing the 37,000 dwt asphalt carrier Asphalt Splendor, recently delivered to U.S.-based Sargeant Marine. The vessel was built at Avic Dingheng, China and is one of a series of two designed by Chinese design institute SDARI in cooperation with Sargeant
DP World Nhava Sheva, well-known for its operational efficiency; once again orchestrated a win-win situation for the trade and maintained normal import and export activities when the port confronted both, natural and manmade crisis.
Monday night football brings additional ferry service and onboard fun For its first ever "floating pep rally" Washington State Ferries will provide some pomp with its extra ferry sailings as the Seahawks take on the Detroit Lions Monday in Seattle.
The Norwegian Coastal Administration (NCA), Norwegian Coast Guard and the Norwegian Clean Seas Association for Operating Companies (NOFO) took part in a full-scale trial of Kongsberg Maritime’s Maritime Broadband Radio (MBR) inter-vessel communication system in the North Sea this June.
Bollinger Shipyards has delivered the JOSEPH NAPIER, the 15th Fast Response Cutter (FRC) to the United States Coast Guard. The announcement was made by Bollinger’s President & C.E.O., Ben Bordelon. “We are very pleased to announce the delivery of the latest FRC built by
The move to LNG as a fuel is a game changer which cannot be ignored, said Angus Campbell, Managing Director of Bernhard Schulte Shipmanagement UK, (BSM), speaking at Gastech in Singapore today. “Independent industry predictions indicate that the use of LNG as a bunker fuel offers
LNG shipping freight rates continue to be under pressure from weak Asian demand and a growing fleet. Shipowners are now pinning hopes on a revival in European demand. However, European LNG demand growth will not be sufficient to raise freight rates
The City of Portsmouth held a 2015 Coast Guard Day festival Saturday at the Ntelos Wireless Pavilion Park in Portsmouth. The City of Portsmouth is a designated Coast Guard City and held the festival to honor the men and women of the service and their families.
Brian Yoder has joined Moffatt & Nichol as Chief Software Architect at its Long Beach, Calif. office to help manage the software product development of FlexTerm, a simulation and emulation tool developed mainly for the container terminal planning, the terminal operating system testing
Simrad HALO Pulse Compression Radar, the world’s first high-performance recreational solid-state, open-array radar system with pulse compression technology, has won the prestigious 2015 Design Award METS (DAME) in the Marine Electronics category at the Marine Equipment Trade Show in Amsterdam
China Communications Construction Co. Ltd (CCCC). has agreed to build a highly automated container terminal in Sydney Harbour, depending on the results of a feasibility study to be conducted next year. Albert Barbusci, CEO of Harbor Port Development Partners (HDP)
China's military carried out war games in the disputed South China Sea this week, with warships, submarines and fighter jets simulating cruise missile strikes on ships, the official People's Liberation Army Daily said on Friday. China claims almost all of the energy-rich waters of the South