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Tuesday, January 23, 2018

Argosy Gaming News

Iowa Supreme Court Upholds $1.25M Loss of Consortium Verdict

In Horak v. Argosy Gaming Co., 2002 WL 1559095 (Iowa July 17, 2002), Leticia Morales, after an evening of drinking before boarding and while aboard the BELLE of SIOUX CITY, died in a one-car accident, during which her blood alcohol level was more than twice the legal limit. Her three children sued the riverboat casino's owner, Argosy Gaming Company, under the state's dramshop statute, under which comparative fault/apportionment of negligence rules do not apply. In other words, unlike under traditional maritime law comparative fault rules, Morales' own negligence, if any, would not reduce her surviving children's recovery.

Royal Caribbean CFO Accepts Position With Argosy Gaming Company

Capping a distinguished 17-year career with Royal Caribbean Cruises Ltd., Richard J. Glasier, executive vice president and chief financial officer, will leave the company this month to become president of Argosy Gaming Company in Alton, Ill. The move will return Glasier to the gaming industry, where he worked for Ramada Inns for nearly a decade in gaming and hotel operations. Royal Caribbean's Chairman and CEO Richard Fain. "We are far stronger today, thanks to his efforts, and we are far better set for the future. This company is indebted to him, as am I personally. Bonnie Biumi, currently vice president and treasurer, will serve as acting chief financial officer. senior manager on the account for auditors PricewaterhouseCoopers as far back as Royal Caribbean's initial public offering.

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.

Riverboat Casino Ratings Buoyed by Regulations, Demand

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.

Atlantic Drydock Tackles Projects

With its 14,600 LT drydock completely booked until the end of April, which has been utilized to the fullest since it was put into operation last summer, Atlantic Dry Dock has myriad of projects scheduled at its yard. The company's 4,000 LT Marine Railway is back in operation after an extensive overhaul. Upcoming projects include routine maintenance on the dump scow, BTS 401; megayacht, Cakewalk; general cargo ship, Argosy; gaming vessel, La Cruise; and ferry Jean Ribault. Regarding Atlantic's 1,300 LT Marine Railway, the drydock has been busy over the past several months with vessels from both the Tug and Gaming market segments. Upcoming projects include the tug, Chub Key; and gaming vessel, Stardancer.

New Tour Boat for Argosy Cruises

(Image: Teknicraft Design)

All American Marine, Inc. (AAM), together with Argosy Cruises of Seattle, Wash., has signed a contract for the construction of a 125-foot aluminum monohull tour boat for operation in Puget Sound’s Elliott Bay. This project will mark the first keel laid at All American Marine’s new shipyard currently under construction in Squalicum Harbor at the north edge of Bellingham Bay. AAM will to open the new state-of-the-art 57,000-sq. ft. boat building facility in January 2017. The Port…

Damen Yacht Support Vessel Game Changer Sold

Game Changer. Photo: Damen

Dutch shipyard Damen has confirmed the successful sale of its 70-meter support vessel, Game Changer. The yacht will now return to Gorinchem in the Netherlands for further customisation. Game Changer  is Damen's fourth Yacht Support vessel sold in the 70-metre segment, proving the ongoing demand for large yachting solutions for worldwide adventures, helicopter and dive operations. Damen has a total of 12 Damen Yacht Support vessels delivered or in build. The next available Yacht Support vessel is a 55-metre YS 5009 Adventure, which will be delivered before the summer this year.

Madelaine-D 2502 Delivered to Argosy Barge Lines

Madelaine-D

Argosy Barge Lines, LLC of Bellaire, Texas, accepted the Madelaine-D 2502 as the newest addition to their fleet in March 2013. The ABS-classed deck barge was built by Sterling Shipyard of Port Neches, Texas. The barge was designed by Bristol Harbor Group, Inc. (BHGI) of Bristol Rhode Island, and construction of the vessel was overseen by BHGI’s sister company, The Shearer Group, Inc., of Houston, Texas. Madelaine-D 2502, named after Mrs. Madelaine D. Griswold, an officer and owner of the company, is a 250 ft x 54 ft x 12 ft load line deck barge with an allowable deck load of 2,500 lbs/ft2.

Argosy Transportation Group Celebrates 20 Years

Image: ATG

As part of its 20th anniversary celebration, Argosy Transportation Group (ATG) is sponsoring various professional events, and contributing toward initiatives in education within the maritime industry. ATG said it appreciates the importance of investing in young professionals, and the group remains committed to developing a platform for the future of the industry. ATG said its commitment to trust and performance in transit is evidenced by its 20-year history. The company can trace its roots back to 1996 when Argosy Shipping was established by Rider Griswold…

Bristol Harbor Group Designed Deck Barge

Photo courtesy Bristol Harbor Group, Inc.

Argosy Transportation Group, Inc., Bellaire, Texas, has signed a contract with Trinity Marine Products, Inc., Madisonville, La., to build the Jean-M 2501, a 250-ft by 54-ft by 12-ft inland deck barge. The vessel, designed by Bristol Harbor Group, Inc. (BHGI), will have a 3,000 pound per square foot (PSF) maximum allowable deck load, and will primarily service the inland project cargo market. Argosy has chosen BHGI’s Houston affiliate, Bristol Harbor Group South, Inc. (BHGS), to oversee construction of the barge at Trinity Marine Products, Inc.

Nichols To Construct 800-Passenger Dinner Boat

Nichols Boat Builders is currently building a new $8 million dinner boat for Argosy Cruises, designed to resemble the bluff-bowed steamboats of the Mosquito Fleet that plied Puget Sound before the turn of the century. The 180 ft. vessel is expected to enter service along the Seattle waterfront in June 2000 carrying 800 passengers on three decks, according to John Blackman, Argosy board chairman and Matt Nichols, president of the Whidbey Island, Wash. boat building company. Powered by a pair of 7,000-hp Lugger engines from Alaska Diesel Electric, with power plants employing Twin Disc deep case reduction gears driving the vessel to a top speed of 11 knots.

Yearbook 2010: Boatyards

Wing Inflatables Factory in Arcata, Calif. (Photo courtesy Wing Inflatables)

In the vessel construction market, small boat builder All American Marine of Bellingham, Wash., and RIB builder Wing Inflatables of Arcata, Calif. both reported a satisfactory 2010 in their niche markets, with good reasons to be optimistic about 2011. Bollinger Shipyards, a major builder in the offshore market also had a good 2010, but is bracing for the impact of the drilling moratorium going into 2011. Meanwhile, new yard, Argosy Boat Company, of Pierre Part, La., is still working to establish itself as a diesel-electric, Z-drive towboat builder.

Cargo Ship Re-Floated Near Baltimore

The 800 ft bulk carrier CSL Argosy that was aground in Chesapeake Bay near Baltimore re-floated at approximately 10 p.m. Jan. 19. The ship is safely anchored near Annapolis, Md., while the crew manually inspects all areas of the ship. The results of these inspections will be reviewed by the Coast Guard. At this time there are no signs of damage or pollution. The CSL Argosy re-floated after a total of approxiamtley 19,300 metric tons of iron ore were removed and transferred to barges. The ship and its crew transited with tug boat assistance to an anchorage near Annapolis. The Unified Command established to respond to the grounded ship was a collective group comprised of the Coast Guard, State of Maryland, the ship's operator and VShips.

Casino Gaming in Hawaii?

House Bill (H.B.) 1600, sponsored by Rep. Calvin Say (D), would allow casino gaming in Honolulu County if a majority of county voters approved. The measure would restrict shipboard gaming to three ships, and allow such gaming only until December 31, 2005. The bill carries no specific termination date for land-based gaming. The legislation would be repealed on December 31, 2005, unless voters approve casino gaming by that date.

Board Game Seeks to Transform Supply Chain Learning

Pat Smedley & Andy Page

Three years after its inception, today sees the official launch of an innovative new board game designed to teach young people of all ages about the importance of today’s supply chain in global commerce. The game - Business on the Move - aims to inspire, excite and educate young people from the age of 9 to 19 and beyond. The aim of the game is for players to move different products from China to their U.K. customers by land, sea and air, as quickly, as profitably and as responsibly as they can.

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, Gaming and Military and Veterans' Affairs Committee,

Shipboard Gaming Authorized

Senate Bill (S.B.) 477, sponsored by Sen. Whitney Anderson (R-Kailua, Waimanalo), authorizes shipboard gaming upon navigable waters in the state and provides for an advisory referendum. Under the bill, shipboard gaming would be licensed and regulated by a five-member gaming board, which would be established within the Business, Economic Development and Tourism Department. S.B. 477 would also authorize the operation of shuttles to transport individuals to and from gaming ships. Dockside gaming would be forbidden, and gaming excursions could not exceed six hours for a round trip. The legislation provides for a per-person admissions tax of $10. S.B. 477 was referred to the Economic Development Committee and the Judiciary Committee, and then to the Ways and Means Committee.

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., for damages resulting from the alleged negligence of Boca Cruises in opening the casino aboard Monte Carlo within Florida's territorial waters, leading to the seizure of gaming assets aboard the vessel by Florida authorities. Coastal Gaming has resolved the dispute with Florida and is seeking restitution from Boca Cruises

Ruling on Permanently Moored Maming Vessel

In an unpublished decision, the U.S. Court of Appeals for the Fifth Circuit ruled that a gaming vessel is tangible personal property for purposes of Mississippi tax law. In the instant case, a shipyard converted a barge into a gaming vessel. After the work was completed and the shipyard was paid, the shipyard filed for bankruptcy under Chapter 11 of the Bankruptcy Code. The Mississippi State Tax Commission asserted that taxes should be paid on monies received for work on the gaming vessel. Under Mississippi law, taxes are due on a percentage of monies earned with certain exceptions. One of the exceptions relates to constructing, repairing, or adding to personal property.

Proposal to Reduce Licenses

S.B. 1023, which would reduce the number of authorzed riverboat gaming licenses from 15 to 14 in the state of Louisiana, passed the Senate by a vote of 27-11. It is now pending in the House Administration of Criminal Justice Committee. Already in the state, 14 licenses have been issued. Additionally, H.B. 522, introduced by Rep. Sherman Copelin (D-Orleans), which would have prohibited the Louisiana Gaming Control Board from authorizing simulated gaming cruises, was defeated in the House on a 44-49 vote.

Cruise-to-Nowhere Measure Introduced

U.S. Rep. Frank R. Wolf (R-Va.) introduced legislation (H.R. 316) that threatens to halt, and even reverse the expansion of the offshore gaming industry. Under existing law, offshore gaming in international water is legal, unless states pass laws specifically prohibiting the activity. Wolf's bill would reverse the situation, requiring states that want offshore casino vessels pass laws to allow them. Offshore gaming operations would be outlawed in states that have not passed laws to legalize them.

Computer Game By Maersk to Spark Interest in Science

Maersk's Computer game

This week the Maersk Group launches a computer game and teaching materials about oil exploration and oil production for Danish secondary schools, technical colleges and higher preparatory examination courses. The materials are available free of charge. More than 340,000 players have already tried the oil exploration game via www.QuestforOil.com. The game provides an insight into the global oil industry and the various elements of oil exploration, drilling and production through the oil fields in the North Sea and Qatar.

Trinity Launches Deck Barge Jean-M 2501

Designed by Bristol Harbor Group, Inc., (BHGI), , , under contract by Argosy Transportation Group, Inc., , the Jean-M 2501, a very built inland deck barge, was launched this week and is set to enter service next week. The 250 x 54 x 12-ft. barge is designed to transport large, over-dimensional cargo on the inland waterways. A 3/4" thick deck and substantial longitudinal stiffeners will allow her to not only carry a 3,000 lbs / sq. ft. deck load, but to do so anywhere along her length.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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