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
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
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
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
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
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
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.”
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 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 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.
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
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
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.
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.
The latest Container Shipping Forecaster from Maritime Strategies International highlights the contrasting fortunes of liner operators and tonnage providers. The entire container shipping industry remains under significant pressure. Whilst freight rates have improved marginally from the
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer, has recently made an addition of three new Rail Mounted Gantry Cranes (RMGC), for their container rail terminal in Mundra. The RMGCs, expected to be operational by this month end, was offloaded on October 7
One of the Royal Australian Navy’s largest maritime warfare exercises has begun in several locations off the New South Wales coast. Exercise OCEAN RAIDER involves 11 warships and submarines, aircraft and more than 1,500 personnel from Australia and the United States in a three
The crew of HMAS Arunta recently took the opportunity to conduct exercises with their Indian Navy counterparts after a port visit to Goa, India. After a short period alongside that included games of cricket and volleyball
Warships, submarines and aircraft from all over the country are converging on Bass Strait for the final week of Exercise OCEAN RAIDER, one of the Royal Australian Navy’s largest maritime warfare activities. HMAS Adelaide lead six ships south from Sydney
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
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 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 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
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
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