THE BIG M CASINO
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
In 2011 Goa’s most elaborate floating casino will celebrate three years of successful operation on the Indian province’s Mandovi River. The M/V Casino Royale was designed by AMC Marcon of Mumbai and her builder Water Ways Shipyard with the lines of a small cruise ship. The ship has capacity for up to 400 passengers, 35 operational crew and seven professional mariners. The Casino Royale is out-fitted to meet international safety standards for a passenger vessel
Leevac Industries, LLC of Jennings, La., won a $40 million contract from PNK (Lake Charles), LLC for the construction of a 330 x 225 x 13-ft. (100.5 x 68.5 x 3.9 m) Paddlewheel Casino Vessel. Lay, Pittman and Associates, Inc. of Jacksonville, Fla., are the naval architects. The casino vessel will hold more than 1,500 slot machines and 60 table games and will be moored in Lake Charles, La. This vessel will be the largest riverboat casino built in the State of Louisiana.
As the casino riverboat industry celebrates its 10th anniversary this year, there's little resemblance between the first reproduction 1890s paddlewheelers that a decade ago plied the upper Mississippi River in Iowa and today's luxurious floating casino resort complexes with their plethora of amenities. Pinnacle Entertainment's $200 million Belterra Casino Resort in Belterra, Ind., which opened last Oct. 27, epitomizes this trend
The U.S. Court of Appeals for the Seventh Circuit ruled that, for purposes of the Jones Act, a permanently moored dockside casino is not a vessel in navigation and its employees are not seamen entitled to protection under the Act. In the instant case, the casino vessel was documented and inspected by the U.S. Coast Guard, but only got underway once each year for engine and maneuvering tests. The court held that the vessel was not engaged in the transportation of passengers or cargo and was
Illinois Gov. George Ryan signaled he may be willing to support the transfer of a dormant riverboat gaming license to Cook County, despite campaigning against the idea last year. While not explicitly endorsing a specific casino site, he acknowledged without the crucial support of legislators who want riverboat gaming in the county, no gambling package could move forward in the Illinois General Assembly. Cook County is the only Illinois county prohibited by law from having a riverboat casino
Conrad Industries, Inc. won contracts totaling $13.5 million to build two 300 x 60 x 24-ft. 35,000 Barrel Double Hulled Oil Tank Barges for Penn Maritime, Inc., and to repair, renovate and perform hull modifications to a riverboat casino to be operated in Mississippi. Johnny Conrad, Conrad’s President and CEO said, "We are excited to announce the signing of these contracts with these new customers and the fact that these jobs further create the opportunity to utilize our
The Option Agreement Aker Yards and Tallink had for a large cruise ferry was today confirmed as a firm contract worth approx. 165 million euro. The vessel to be delivered in summer 2008 from Aker Yards shipyard in Helsinki will be a sister ship to MS Galaxy launched at the yard in Rauma early this month. The contract means 1,700 man years of work to the yard. In addition to the new order there are two other vessels for Tallink in Aker Yards' orderbook, i.e
Harrah’s recently opened a new barge mounted casino at their Joilet, Illinois property on the Des Plaines River near Chicago. The building on a barge replaces two USCG certified vessels that have been at the facility since 1993, the M/V Northern Star, a cruise-ship type vessel, and M/C Southern Star, a sternwheeler. The barges for the new facility were designed by DeJong & Lebet, Inc. Naval Architects, Jacksonville, Florida. DeJong & Lebet, Inc
R&R Marine Fabrication and Drydock has begun construction of two specialty hull modules for Harrah's Entertainment, Inc. at its Port Arthur, Texas facility. The modules will form the base of Harrah's renovation and expansion of its Horseshoe Casino in Hammond, IN. The keel for the first hull module was laid on August 8, 2006. When completed, each module will measure 276 x 102 ft. and 22 ft. deep, weighing approximately 1,700 tons
The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced its 2014 board of trustees. Consisting of 117members, the Coast Guard Foundation Board of Trustees and Directors oversees management of the
By Balazs Koranyi, Reuters The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms.
Reuters – Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, according to a recent survey. Ship owners ordered large numbers of vessels between 2007 and 2009
Two new specialised livestock carriers have been named 'Gelbray Express' & 'Girolando Express' in a ceremony at the COSCO shipyard in Guangdong, China. Vroon inform that the godmothers are Ms Sophie Wang, Managing Director Landmark Global Exports Pty Ltd
Holland America Line commissioned Imtech Marine USA to refit the bridges of three Holland America Line cruise ships – ms Westerdam, ms Noordam, and ms Oosterdam. The equipment consists of FCR-28x9 X-band radars, FAR-2837 S-band radars, FMD 3300 ECDIS
The Porrt of New Orleans announced the agenda for the January 2014 Board of Commissioners meeting on Wednesday, January 22. Agenda Regular Meeting No. 7 Fiscal Year 2013-2014 Wednesday, January 22, 2014, 11:00 A.M. Main Auditorium 1350 Port of New Orleans Place New Orleans, Louisiana
FleetWeather Ocean Services, Inc. (FleetWeather) was the first to bring BI analytics and big data services to global shipping companies. New services provide insight, intelligence and innovation for global shipping leaders. FleetWeather says it recognized that business intelligence tools
Six crew members and a passenger have been airlifted to hospital after a fire on board the DFDS ferry 'MS King Seaways', while en route from North Shields to Amsterdam, approximately 30 miles off Flamborough Head on the north east coast of England.
WISTA President Karin Orsel announced the formation and accreditation of WISTA Russia, which has been developed under the leadership of prominent Russian executives. The inauguration of this National WISTA Association (NWA) was held during a post RUMI (Russian Union of Marine Insurers)
A vessel optimization application offering combined tidal and non-tidal (ocean) current data has been launched for integrated vessel speed and route optimization. Developed by oceanographic data specialist Tidetech, the new application offers resolution of six nautical miles (0
The American Shipbuilding Suppliers Association (ASSA) recently held discussions at the United States Navy Memorial & Naval Heritage Center, Washington DC, between member companies and ADM Jonathan Greenert, Chief of Naval Operations; Ms. Allison Stiller, DASN Ships; and Mr
H.E. Khamis Juma Buamim, Chairman of Drydocks World and Maritime World the international provider of maritime services to the shipping oil, gas and energy sectors received the prestigious Sword of Honor for 2013 from the British Safety Council. The award was presented in the presence of Ms
Officials with the World Trade Center Mississippi River Alliance (WTC MSRA) and the Big River Coalition (BRC) have signed a Memorandum of Understanding outlining a cooperative effort to preserve and promote economic growth on the Mississippi River and Tributaries (MRT).
Officials with the World Trade Center Mississippi River Alliance (WTC MSRA) and the Big River Coalition (BRC) have signed a Memorandum of Understanding outlining a cooperative effort to preserve and promote economic growth on the Mississippi River and Tributaries (MRT)
DeJong & Lebet, Inc. announced that Norman N. DeJong passed away on November 7, 2013. Norman was 75 years old at the time of his passing. Norman was one of the founding partners of DeJong & Lebet, Inc., Naval Architects, in 1983 in Jacksonville, Florida