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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


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.


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


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


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


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


R&R Begins Building Modules for Harrah's

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


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


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


Gondán Lays Keel for MS-SC Training Vessel

Photo courtesy Gondán Shipyard

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


Australia's GHG fall by 0.8 %

Australia's greenhouse gas emissions fell 0.8 percent in 2013, according to government data, driven by lower electricity demand and a bigger share of renewables in the energy mix. The country emitted 538.4 million tonnes of carbon dioxide equivalent (CO2e) last year


Among 2014's Most Powerful & Influential Women: Karen Jones

Karen Jones: Photo Ryder

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


Holland American Line Launches 'Dive-in At The Terrace Grill’

Holland American Line

  Holland America Line is enhancing the Terrace Grill on its 15 premium ships and rebranding the popular lunch spot as “Dive-In at the Terrace Grill.” The outdoor bistro-style grill area by the ships’ Lido pool will feature new signature burgers, hot dogs and fries.


Industry Urges Senate for Vessel Discharge Legislation

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


Internet Remote Power Diagnosis

The benefits of the use of the diagnosis computer developed by E-MS reach from simple monitoring to the optimized operation of a complete power supply and propulsion system.

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


Court Finds NZ Fishing Boat 'Easy Rider' Owner Guilty

File photo CCL3

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


Schechtman Promoted at Parsons Brinckerhoff

Jeffrey Schechtman

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


MLV Forms Marine Shipping Research Team, Names Leader

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 Adds to Asia Area Staff

Neptune Patrol Boat: Image courtesy of Neptune Maritime Security

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.


Security at Sea on Agenda at Upcoming SMM Hamburg

Image courtesy of SMM

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


Kiel Canal Strike Action Ended

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


Four Holland America Ships to Sail SA Cruise Season

ms Statendam (Photo: Holland America Line)

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.


Cruise Season Opens in the Port of Kiel

Photo: Port of Kiel

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


Shell drops Norwegian subsea gas project

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


 
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