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
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.
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
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
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
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
Signal International will begin repairing the hull of the Boomtown Casino barge next week. The barge, heavily damaged during Hurricane Katrina, was moved to Signal last week for hull repairs. The company expects the repairs to be completed and the casino back in operation by the end of this year. The exact cost of the repairs were not released, but the hull repairs were estimated at less than $1 million. The hull was damaged in a number of places, and employees are reviewing the damage
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
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
This year’s cruise shipping season in Kiel opened on Saturday, April 5 when the first cruise ship of the year, the AIDAcara, berthed in the port after sailing through the Kiel Canal. During this year’s season, which will last until mid October
Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production. Shell said on Friday it would postpone a project to provide subsea compression
Gondán Shipyard celebrated the keel laying ceremony of the sail training vessel that the yard is building for the British Marine Society & Sea Cadets (MS-SC). In the ceremony, which took place this morning in Figueras Shipyard (Castropol) participated representatives from the British
Commercial transportation and supply chain management firm Ryder System Inc. say that their Chief Marketing Officer, Karen Jones, was named one of 2014’s Most Powerful & Influential Women by the Florida Diversity Council. Ms. Jones was presented with the award at the 2014 Florida
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
Ms. Virginia A. Kamsky, was chosen to sponsor the ship by Secretary of the Navy Ray Mabus, and was present at the keel laying ceremony for the fifth Joint High Speed Vessel 'Trenton' (JHSV 5), one of ten Austal-designed 103-meter U.S. Navy Joint High Speed Vessels under contract with the U.S. Navy
On March 13, a diverse coalition of 59 national and regional organizations representing a wide array of business, maritime and labor interests signed on to a letter to Senate Commerce, Science and Transportation Committee leadership, Chairman John Rockefeller (D-WV) and Ranking Member John Thune
The internet has simplified many processes, from enabling fast and cheap worldwide communication to the control of complex industrial plants from the distance. In this respect, the internet also is suited to take over tasks that previously were only possible with telemetry
Maritime New Zealand (MNZ) says it welcomed guilty verdicts against Gloria Davis and AZ1 Enterprises Limited on charges relating to the sinking of the 'Easy Rider' with the loss of eight lives off Stewart Island in March 2012. Ms Davis is the sole director of the company that operated the
Jeffrey Schechtman has been named Deputy Regional Business Manager for the Southeast region of Parsons Brinckerhoff, a global infrastructure strategic consulting, engineering and program/construction management organization. In his new position
Independent full service investment bank & institutional broker dealer, MLV & Co inform that Natasha Boyden has joined the firm to captain the launch of a new research vertical focused on Marine Transportation and Shipping. She will work out of the New York office.
Neptune Maritime Security says that Graham Storey has joined its team representing Asian and South East Asian clients. Graham has a wealth of experience in the shipping industry in Singapore and will be working closely with Neptune’s representatives in Japan and Asia.
At the forthcoming SMM maritime trade fair in Hamburg in September 2014 experts will present new security concepts for sea routes. Background Security at sea is improving: In recent months, pirate attacks on commercial ships have been repelled successfully with increasing frequency
The strike in the Kiel Canal ended at 6 a.m. this morning, March 28, according to a GAC report. At Brunsbuettel, the big south lock chamber and both small lock chambers are back in service, and at Kiel-Holtenau, both big lock chambers and the small north lock chamber old locks are also back in
From fall 2014 through spring 2015, Holland America Line will offer South America deployment with four ships positioned in the region. The line's ms Statendam, ms Maasdam, ms Prinsendam and ms Zaandam will sail 20 voyages around the continent ranging in length from 14-68 days.