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
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
Australia's Padbury Mining Ltd said it had secured almost $6.5 billion in funding to build a new deepwater port and railway at Oakajee in Western Australia, potentially opening a new export hub for the region's iron ore riches. Plans for a port at Oakajee in Western Australia's Midwest
Researchers at the Naval Research Laboratory (NRL) say they have developed technology to extract carbon dioxide from seawater while simultaneously producing hydrogen, and then converted the gasses into hydrocarbon liquid fuel. NRL engineers consider the breakthrough to be a potentially
Huntington Ingalls Industries' (HII) Newport News Shipbuilding division will share modeling and simulation practices used in the design and construction of aircraft carriers and submarines during the MODSIM World Conference this week. The shipyard is among more than 25 organizations sharing best
Royal Caribbean International says that its latest cruise ship, 'Quantum of the Seas', will make its home port in Shanghai (Baoshan), China The ship will reposition to China in May 2015, following her inaugural winter season sailing out of New York Harbor to the Caribbean.
Wärtsilä say they have signed a 3-year logistic agreement with the Finnish Sailing and Boating Federation with Wärtsilä’s new site in Niteroi, Rio de Janeiro, offering a perfect location and valued logistical services to the Finnish top sailors.
Pelco by Schneider Electric and Oncam Grandeye announced that they have partnered to deliver the Evolution 360-degree camera range to global customers that provides unprecedented situational awareness. The addition of the award-winning 360-degree cameras and technology from Oncam Grandeye is yet
A group of industry professionals from the commercial maritime sector gathered in Fort Lauderdale, Fla. at 8 a.m. on February 8 to participate in Murray & Associates LLC’s 2014 Fishing Challenge. The naval architect and marine engineering group hosted the tournament for the third
The Switch, a supplier of megawatt-class permanent magnet generators, motors and frequency converters, received an order from WE Tech Solutions Oy of Vaasa, Finland for four permanent magnet (PM) shaft generators. Coupled together with WE Tech’s WE Drive
By Stephen Eisenhammer, Reuters Oil service companies will have to assume more risk in the coming years as investor pressure and a flat crude price make oil company clients push harder to avoid delays on megaprojects, the chief executive of FTSE 100 contractor Petrofac said.
The Winter Games, code-named RigRun is a six week offshore event, which aims to improve health in the offshore industry and gather funds for charity at the same time. Seven Maersk Drilling jack-ups are currently competing against each other and 19 other rigs to claim first place.
Huntington Ingalls Industries say they recently donated $25,000 to Special Olympics of Mississippi. The check was presented at an event in Jackson and will help with travel expenses for Mississippi athletes and families to attend the Special Olympics USA Games
What does it take to win in the littoral? Start with knowledge. Naval warfare in littoral waters is very different from open ocean operations. The U.S. Navy is dominant in “blue water” scenarios, but less so in the littoral, naval experts say.
AVEVA Activity Visualization Platform is featured at the Fiatech Technology Conference and Showcase 2014. AVEVA will be showcasing its unrivalled industrial gaming software AVEVA Activity Visualization Platform (AVEVA AVP) at the Fiatech Annual Technology Conference and Showcase
Wärtsilä inform that its new low-pressure, 2-stroke, dual-fuel engine (DF), the 5-cylinder Wärtsilä RT-flex50DF engine, together with the gas valve unit and other relevant equipment, has been ordered for a new liquefied natural gas (LNG) carrier vessel being built for the
The Coast Guard, along with the Arkansas Game and Fish Commission and the Mississippi County, Ark. Sheriff's Department, are searching for two people in the water near a sunken barge in Hickman Landing Wednesday. Watchstanders at Coast Guard Sector Lower Mississippi River received a report at