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
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
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
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 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.
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
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 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
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
Indonesian military has sunk 34 impounded foreign boats, the latest bid to deter vessels from illegally fishing in the world's biggest archipelago nation. The vessels, which came from Vietnam, the Philippines, Thailand and Malaysia
Bolidt has been selected to supply decking solutions across a wide range of Dutch maritime projects that encompass the entire range of industry sectors. The Dutch flooring and decking specialist will be showcasing its comprehensive range of synthetic decking solutions at Europort 2015.
A natural gas pipeline has caught fire approximately 25 miles south of Marsh Island, La., Wednesday, injuring two vessel crew members working on the pipeline, according to the U.S. Coast Guard. Coast Guard watchstanders in New Orleans were notified at 8:30 p.m
Oil rocketed as much as 10 percent higher on Thursday, posting its biggest one-day rally since 2009 as recovering equity markets and news of diminished crude supplies set off a short-covering surge by bearish traders. Snapping back from a deep two-month slump that reached 6-1/2 year lows
Trine Sæther Romuld has informed Kværner ASA that she resigns from her position as non-executive Director and Chair of the Board's Audit Committee of the Company with immediate effect. This is due to change in employment to a position without opportunity to hold directorships.
We wish we had a dollar for every time we heard or read the words Big Data at the Nor-Shipping exhibition last month. We might even have collected enough cash to buy a round of expensive Norwegian beers for the gang at the Fridtjof bar.
It’s no coincidence that Class standard bearer DNV GL’s incoming group chief exec, Remi Eriksen, is a former telecoms engineer who knows his way around Houston (IT) and Singapore (yards). After all, the satellite communications industry understands shipping
The extensive global network of Furuno service centers, subsidiaries and distributors was one of the reasons that Holland America Line (HAL) chose Furuno when it was time to retrofit their cruise ships with the very latest in a fully integrated navigation system.
WISTA International Board Member and INDIA President Ms.Sanjam Sahi Gupta attended the first Annual General Meeting (AGM) of WISTA Sri Lanka that was held on 22nd of July 2015 .The event was graced by government heads such as the Hon. Minister of Shipping and Aviation Mr
Struggling with technology and a plunge in oil prices that has discouraged exploration, Korean vessel makers are racking up debt and could show billions of dollars in losses, reports Bloomberg. The Big Three shipbuilders in South Korea ventured into offshore oil rigs starting around
New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month. "57 superyachts visited between April 2014 and March 2015
South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper. South Korean cruise vessels voyaging overseas will be able to operate casinos on board – but casino admission will be only for
Colombian state-run oil producer Ecopetrol will fully restart its Cartagena refinery by March, Chief Executive Officer Juan Carlos Echeverry said on Thursday. The action will make Colombia self-sufficient in refined oil products it has had to import in increasing quantities during the
BHP Billiton Chairman, Jac Nasser, today announced a number of changes to the BHP Billiton Board of Directors. Anita Frew has been appointed to the BHP Billiton Board as an independent Non-executive Director, effective as of 15 September 2015.
Detroit Coast Guard members are participating in a Southeast Michigan Area Maritime Security Committee multi-agency table-top exercise Wednesday at the Detroit Fire Department Regional Training Center. The purpose of this exercise is to test plans and policies of federal, provincial