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THE BIG M CASINO

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


South Korean Okays Casinos in Cruise Ship

Image: Sapphire Princess

 South Korea plans to enable its citizens and foreign tourists to wager on new cruise ship services that will serve ports around the country, reports the Korea Joongang Daily newspaper.   Some major overseas cruise companies – such as Genting Hong Kong Ltd’s Star Cruises – operate shipboard casinos that only open once the vessel is in international waters.   The plans also include allowing local residents to use casinos on cruise ships


Floating Casino Follows Industry's Upscale Trend

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


Possible Support for Riverboat Gaming

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


LEEVAC Wins $40M Casino Boat Contract

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.


Goa’s Casino Royale at Three Years

Goa_002_web.jpg

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


Aker Yards and Tallink Sign Contract for Ferry

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


Conrad Adds to Backlog

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


Harrah’s Gets New Barge Mounted Casino

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


Ruling on Permanently Moored Dockside Casino

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


WISTA India's Workshop on Managing Customers

Group photo of WISTA Workshop

  WISTA India proved that they are committed to enhancing skiil of all women in the Maritime Industry . On 17th April they organised a workshop on "Manage your customers" at India's premier Business school SP Jain Institute of Management and Research.


Dozens Fell Sick on Holland America Cruise Ship

Maasdam: Holland America Line

 About 60 guests aboard Holland America cruise ship Maasdam reported to the infirmary with the virus about one week into the cruise.    The passengers on the MS Maasdam began experiencing gastrointestinal illness while on a 14-day sailing


LNG Drive: Helgoland Leaves Building Dock

MS Helgoland by Cassen Eils

 After almost nine months of construction has MS "Helgoland" the new LNG (Liquefied Natural Gas) ship of Cassen Eils from Cuxhaven, left the building dock of the Fassmer-Werft shipyard.   Helgoland will be the first German flagged marine vessel to operate on LNG as its


Damen to Refit RNLN Torpedo Ship

Royal Netherlands Navy torpedo ship Zr Ms Mercuur

Damen Shiprepair & Conversion has won the contract for the life-prolonging maintenance and refit project of the Royal Netherlands Navy torpedo ship Zr Ms Mercuur. The ship, originally built at Damen Schelde Naval Shipbuilding in 1987, will be refit to make her suitable for a range of new


WOW at USMMA

U.S. Maritime Administrator Paul Jaenichen addresses the gathered audience at the 7th annual Women on the Water (WOW) conference.

The United States Merchant Marine Academy Hosts 7th Annual Women on the Water Conference. Last week, The United States Merchant Marine Academy (USMMA) in conjunction with the U.S. Maritime Administration (MARAD) hosted the 7th Annual Women on the Water (WOW) Conference


OOCL Orders Six Ultra-Large Container Ships

Pic: Orient Overseas (International) Limited.

 Orient Overseas (International) Ltd. has placed a new order for six mega 20,000 teu container ships from South Korean shipbuilder Samsung Heavy Industries Co. for US$951.6 million.   Orient Overseas, controlled by the family of former Hong Kong chief executive Tung Chee-hwa


ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

      ABS CEO Christopher J. Wiernicki

  During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address to set the agenda for discussion over the following two days. CMA Shipping is an annual meeting of nearly 1


“AIDAcara” Opens Kiel’s 2015 Cruise Shipping Season

AIDAcara (Photo: Port of Kiel)

Kiel’s 2015 cruise shipping season gets under way on Easter Saturday, April 4th.   That’s when the first ocean-going cruise ship of the year, “AIDAcara”, ties up at the Ostseekai Terminal after calling at Lisbon, Le Havre and Dover


Couple Found Dead Aboard Cruise Ship

MS Ryndam (Pic by Holland America Line)

 Two passengers were found dead on a cruise ship docked in San Juan, Puerto Rico on Thursday morning in an apparent murder-suicide.     The unidentified man and woman were in their 50s and from Cleveland, Ohio, AP reports quoting police Sgt. Ricardo Cruz


Seventh ICE Awards Scheduled for 6th June

Ice Logo

  Inviting entries for one of the most sought-after awards in internal communication. With the prestigious ICE (In-house Communication Excellence) Awards scheduled for the 6th June 2015, the organisers are getting set a venue that will host its largest number of guests including the


FUSION Debuts Marine-Specific Amplifiers

Stereo Amplifiers

  FUSION announced today the release of its line of hardened marine-specific stereo amplifiers. Purpose-built for installations on boats of all sizes, the new line of amplifiers is engineered for long-lasting performance. Offered in two configurations, the 400 Watt


U.S. Ports Expands to be with Panama’s $5 Billion Canal Upgrade

Image: Panama Canal Authority

 A report in the USA Today says that the U.S. ports are busy deepening harbors and building bigger terminals to draw the bigger ships. Across the USA, public ports and their private sector partners will spend more than $46 billion in port-related improvements through 2016


ABS Executive Chairs Forum at Sea Asia

KENNETH RICHARDSON, EXECUTIVE VICE PRESIDENT OF ENERGY PROJECT DEVELOPMENT

  ABS Executive Vice President of Corporate Energy Development Ken Richardson says managing Big Data is critical to the future of offshore. (Singapore) ABS, the leading provider of classification services to the global marine and offshore industries


Newcastle Coal Port Reopening as Storm passes

Australia's Newcastle port, the world's biggest marine coal export terminal, will reopen later on Thursday after shutting down earlier this week due to a heavy storm, according to the port. Australia's biggest coal companies, including BHP Billiton Ltd , Glencore Plc, Rio Tinto


Asia-N.Europe Box Rates at New Low

File image: containership loading in port.

Freight rates for the shipping of containers from Asia to Northern Europe fell by 1.7 percent to a record low $343 per 20-foot container (TEU) in the week ended Thursday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.






 
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