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ARGOSY GAMING

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


Coastal Gaming Group Cleared

Following an investigation, the Broward County Sheriff's Office has cleared Tampa-based Coastal Gaming Group, Inc. of allegations of unlawful gaming activities aboard gaming boat Monte Carlo. The investigation revealed management of Coastal Gaming neither approved, nor had any knowledge of such activities. The company, which provides casino management, consulting and operating services to cruise ships, has filed suit against Boca Casino Cruises, Inc


Two Bills from New Jersey

Assembly Concurrent Resolution (ACR) 89, sponsored by Assemblywoman Nilsa Cruz-Perez (D), proposes a constitutional amendment authorizing the New Jersey State Legislature to legalize riverboat gaming if a bordering state authorizes casino gaming. Also, Assembly 983, sponsored by Assemblymen Kenneth C. LeFevre (R) and Francis J. Blee (R), would prohibit cruise-to-nowhere gaming from New Jersey. Both bills are carried over from last year, and were referred to the Assembly Commerce, Tourism


Pending Federal, State Legislation Threatens

Legislation introduced by U.S. Rep. Frank R. Wolf (R-Va.) could severely damage Florida's offshore gaming industry. Under existing federal law, offshore gaming in international waters is legal, unless state pass laws specifically prohibiting the activity. Wolf's bill (H.R. 316) would reverse the situation, requiring states wanting offshore casino boats to pass laws allowing them. However, state assistant attorney general Jon Glogau said passage of the Wolf bill would instantly nullify the


Are More Casino Boats on the Horizon?

By Larry Pearson While the Casino boat building business has been stagnant for nearly a decade, there maybe emerging opportunities for growth. For naval architects, shipyards, interior designers and marine systems and equipment suppliers the mid 1990's was a heady time. Over 100 casino boats were built during this time. If there are more on the way, it will be a smaller market this time around. The market is not so much for new boats for new jurisdictions


Marine News Boat of the Month: March 2017

Image: AAM

Red & White Taps AAM for Hybrid Electric U.S.-Built Passenger Vessel   All American Marine (AAM) in February announced a deal for the construction of a new hybrid electric, 600 passenger aluminum monohull vessel to be delivered to the Red and White Fleet of San Francisco, Calif. AAM’s latest contract follows an earlier announcement made by the company regarding a construction agreement for a 500 passenger aluminum monohull tour boat for Argosy Cruises of Seattle, Wash


Casino Ship Sold at Auction

According to a report in the Miami Herald: “The gaming ship once operated by St. Tropez Casino Cruises was sold in a courthouse auction Tuesday to a giant ship-management company for $3.8 million. Monaco-based V. Ships topped 11 other bidders to acquire the 30-year-old vessel, which has been anchored off Fort Lauderdale's shores since May when gaming operations were suspended for lack of money.”


Indefinitely Moored Vessel not Subject of Admiralty Jurisdiction

In an unpublished opinion, the US Court of Appeals for the Fifth Circuit ruled that an indefinitely moored gaming vessel is not a vessel for purposes of general maritime law and not subject to the admiralty jurisdiction of federal courts. In the instant case, the gaming vessel was afloat, but had not moved since arriving at its Lakes Charles mooring in 2001. The owners had no intention of moving the vessel. Plaintiff alleged personal injury from a slip-and-fall on carpeting outside the


Kelvin Hughes New Entertainment Service

Kelvin Hughes is offering a new crew entertainment package after signing an exclusive agreement with Headland Media. This agreement authorises Kelvin Hughes to sell Headland Media’s film, book, music, sports, and game service, Walport Entertainment On-Board. This will be a new addition to Kelvin Hughes’ existing navigational products. Walport Entertainment On-Board from Headland Media comprises a choice of the latest international film releases and classics


You know you've arrived when ...

(Image: Damen)

You order your new 227-ft. Yacht Support vessel with its own helicopter hangar. Damen, an innovator in various marine sectors, has launched Game Changer, its latest 227-ft. (70 m) Damen, Yacht Support vessel with helicopter hangar. Available for the 2017 summer season, Game Changer is touted as a showcase of the Yacht Support solution for owners who want to have more fun off the beaten track, but with a significantly lower Total Cost of Ownership.  


Austal, ASC Partner for Australian Frigate Program

(Photo: ASC Shipbuilding

Australian shipbuilders Austal Limited and ASC Shipbuilding have joined forces for the build of the SEA5000 Future Frigates Program.   Under this arrangement, the two say they will collaborate in support of the program, pooling complementary strengths, skills and experience.  


Wanted: Ocean Technology ‘Disruptors’

© widi4dd / Adobe Stock

Technology ‘Disruption’ is the name of the game in ocean technology in 2017, and in-step with Marine Technology Reporter’s 12th Annual “MTR100”, the editors this year will single out the 20 top “Disruptors” of 2017


Wells Fargo Calls $100 Oil a 'Pipe Dream'

Image: Organization of the Petroleum Exporting Countries

 USD 100 per barrel oil  is but a “pipe dream,” Wells Fargo said in a new investor note, reports MarketWatch.   The report quoted Wells Fargo’s John LaForge saying that he’s doesn’t expect oil prices to climb anywhere near $100 a barrel over the next


HMAS Newcastle Visits India

Able Seaman Boatswains Mate Glen Cameron throws a heaving line from the forecastle of HMAS Newcastle in Kochi, India. Photo: Royal Australian Navy

 Making her way north to commence duties as part of Operation MANITOU, HMAS Newcastle made a port visit to Cochin, India, further strengthening relationships recently made on exercise off Fremantle.   As a continuation of Exercise AUSINDEX


France Worried by Russian Warships off Crimea Coast, Urges Restraint

France called for restraint between Russia and Ukraine after warships from Moscow's Black Sea Fleet took up position off Crimea's western coastline in response to the start of Ukrainian missile tests nearby. "France is concerned about the deployment of Russian warships off Crimea's


First LNG-powered Hopper Dredger Launched

Worlds first LNG-powered hopper dredger Minerva launched Photo Royal IHC

The launch ceremony of DEME’s 3,500m3 LNG-powered trailing suction hopper dredger (TSHD) MINERVA took place on 3 December at Royal IHC's shipyard in Kinderdijk, The Netherlands. The official name giving and christening ceremony will take place in the spring of 2017 in Zeebrugge, Belgium.


Bollinger Delivers 21st USCG FRC

Photo: Bollinger Shipyards

Bollinger Shipyards has delivered the USCGC JOHN MCCORMICK, the 21st Fast Response Cutter (FRC) to the U.S. Coast Guard. The 154 foot patrol craft USCGC JOHN MCCORMICK is the 21st vessel in the Coast Guard's Sentinel-class FRC program, and the first FRC to be stationed at Ketchikan, Alaska


Global Eagle delivers foreign Language TV programmes for ship crew

Image by GEE

Global Eagle Entertainment Inc. (NASDAQ:ENT) has expanded its portfolio of live programming delivered by satellite to cruise ships with the addition of new channels for crew members from India and the Philippines.   Global Eagle is now delivering TV programs from Viacom 18 Colors and the


AAM Wins Hybrid Passenger Vessel Contract

Photo: AAM

All American Marine, Inc. (AAM), inked a deal for the construction of a new hybrid electric passenger vessel to be delivered to the Red and White Fleet of San Francisco, California.  The contract for the new 600 passenger aluminum monohull was signed during the recent annual Maritrends


US Coast Guard in CRADA with Cox Powertrain

Photo: Cox Powertrain

The US Coast Guard has entered into a Cooperative Research and Development Agreement (CRADA) with British diesel engine innovator, Cox Powertrain. The CRADA will evaluate and test the advantages, disadvantages, required technology enhancements, performance


Boston Whaler debuts '380 Outrage'

380 Outrage Photo Boston Whale

Boston Whaler has introduced the all-new 380 Outrage, a powerful vessel that confidently navigates the spectrum of on-water activities. For epic offshore runs or memorable social gatherings, the 380 Outrage is incredibly comfortable and easy to operate


Iran Stages Massive Navy Drill in Indian Ocean

Pic: Islamic Republic of Iran Army

 Amid rising tensions with the US, Iranian naval forces have launched the final stage of a large-scale drill north of the Indian Ocean to enhance their defense capabilities, reports PressTV.   Navy Commander Rear Admiral Habibollah Sayyari announced the beginning of the maneuver


Cross-Bay Ferry Again Posts Record Ridership

The Tampa Cross-Bay Ferry (Image: Tampa Cross-Bay Ferry)

In St. Petersburg and Tampa, Florida, the fledglng trial of the Cross-Bay Ferry carried nearly 8,000 passengers during March and generated significant growth in ridership for both weekday and weekend service between Tampa and St. Petersburg.  


Singapore Maritime Gallery Re-opens After Makeover

SMS Mrs Josephine Teo trying her hand steering a ship at the ship simulator, one of the newest exhibit at the Singapore Maritime Gallery.  Photo: Maritime and Port Authority of Singapore

 The Singapore Maritime Gallery (SMG) which underwent a refresh, was officially opened today by Senior Minister of State, Prime Minister's Office, Ministry of Foreign Affairs & Ministry of Transport, Mrs Josephine Teo.   


New Containership Design is Self-steering and Emissions Free

YARA Birkeland container feeder ship design (Image: Kongsberg)

Norwegian fertilizer producer Yara and maritime technology firm Kongsberg Gruppe are teaming up to build what they said would be the world's first fully electric and self-steering containership.   "The new zero-emission vessel will be a game-changer for global maritime transport






 
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