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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


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


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.”


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


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


Port of Long Beach to See 5% Cargo Growth in 2016

The Port of Long Beach, the second largest port in the United States, will see 5 percent growth in cargo volume this year as a weak U.S. dollar spurs consumer demand, the west coast port's chief executive said on Thursday.   The port, which handles 20 percent of U.S


Croatian Shipyard Wins RoRo Ship Orders

(Photo: CLdN RoRo SA)

Making good on it's announcement in the autumn of 2015 to ambitiously expand its RoRo fleet, CLdN Ro-Ro SA confirms that two additional ships have been ordered, with options for another four, through the Croatian shipbuilder Uljanik.  


HII Head Gives Up Salary for Educational Fund

Mike Petters (Photo: HII)

U.S. shipbuilder Huntington Ingalls Industries (HII) said it has begun the process of establishing a fund to provide educational assistance for children of HII employees. While details of the educational fund are still being developed, it will be funded annually with HII President and CEO Mike


Baltic Index Rises as Capesizes Continue to Support

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, on surging capesize demand and improved activity across vessel segments.   The overall index, which factors in rates for capesize, panamax


Tidewater Subsea Charters MV Brandon Bordelon

MV Brandon Bordelon (Photo: Bordelon Marine)

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.


Vessel Demand Suffers Shock

Table: Clarksons Research

 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’


BIG DATA & Maritime: The Downside

Tony Baker, Loss Prevention Director

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


BV Classes Mega Asphalt Carrier

Asphalt Splendor (Photo: Bureau Veritas)

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


Interactive Map Highlights Shipping's Global Security Threats

RiskMap Courtesy TMG

Ship owners and managers can now view what security threats a country poses to shipping lines with the click of a button thanks to a new live interactive map.   The security and risk mapping system RiskMap provides a new and unique way of viewing and categorising up-to-the-minute security


BRP Wins Industry Award for Rotax Innovation

Courtesy BRP ROTAX

BRP’s Rotax Intelligent Shift and Throttle (iST) system was recognized by the National Marine Manufacturers Association (NMMA) with an Innovation Award in the Jet Boat category at the 2016 Miami International Boat Show. The game-changing iST option for Rotax jet propulsion systems brings


Industry Award for Simrad Structurescan 3D Sonar

Innovation Award Photo Simrad

Simrad StructureScan 3D sonar imaging has won the National Marine Manufacturers Association (NMMA) Innovation Award in the Consumer Electronics category at the 2016 Miami International Boat Show. Following the success of the Simrad NSO evo2 multifunction display in 2014


Argosy Transportation Group Celebrates 20 Years

Image: ATG

As part of its 20th anniversary celebration, Argosy Transportation Group (ATG) is sponsoring various professional events, and contributing toward initiatives in education within the maritime industry. ATG said it appreciates the importance of investing in young professionals


Bollinger Delivers 17th FRC to the USCG

Photo: Bollinger Shipyards

Bollinger Shipyards has delivered the USCGC Donald Horsley, the 17th Fast Response Cutter (FRC) to the United States Coast Guard (USCG).   The Coast Guard took delivery on March 5, 2016 in Key West, Fla., and is scheduled to commission the vessel in Puerto Rico during May, 2016.  


Search for 2 Missing persons on Lower Mississippi River

Photo USCG

The Coast Guard and local rescue agencies are searching for two people in a fishing vessel near mile marker 363 on the Lower Mississippi River, in Claiborne County, Miss., Friday. Watchstanders with Coast Guard Sector Lower Mississippi River received a report from the Claiborne County Sheriff


Shipping Firms Sign up to Fight Illegal Wildlife Trafficking

The Duke visits London Gateway. Photo: London Gateway

 The world’s largest shipping and airline companies, port operators and transport groups have committed to trying to shut down the main international wildlife trafficking routes.   The Sustainable Shipping Initiative (SSI) – a pioneering coalition of companies from across






 
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