February 11th, 2011 – by Glen Farmer

January of 2011 has continued the downward spiral that has gripped the casinos in Atlantic City. The gambling hub’s overall revenue has dropped another 13 percent in January, bringing the oceanside resort’s declining revenue to a period of four years.

The New Jersey Casino Control Commission has reported major declines once again, with slot revenue down collectively through the 11 casinos by a total of 16 percent from a year earlier. The slots revenue collected totaled at almost $165 million through January.

Table games experienced a slightly lower decline. Table game winnings dropped 8.3 percent over January of the previous year, with only $90.5 million in revenue generation being reported by the New Jersey Casino Control Commission.

Atlantic City has been contending with the challenge of gambling expansion in surrounding areas. While the state once enjoyed a near monopoly of gambling in the region, the state has been surrounded by new choices for gamblers to enjoy. Pennsylvania, Delaware, New York, Maryland, and West Virginia have all expended gambling or begun to be more convenient for those in the respective locations.

Several slots jackpots have also helped to punish Atlantic City’s income, as several multi-million dollar jackpots had been won off of the lower denominations of slots.

In order to help salvage the region’s casinos, legislators have been working at reforming the way the industry is regulated. The possibility of online casinos hosted by the state’s gambling companies has also been considered as a way to generate more revenue.

January 20th, 2011 – by Glen Farmer

Bodog has long been one of the largest online gambling sites, but this megalithic gambling center has recently begun approaching a milestone. Bodog is now approaching their billionth hand of blackjack.

Like online poker rooms who come to their billionth hand, Bodog has decided to offer up a special list of prizes to those who participate in the games during this milestone. Tens of thousands of dollars are available, as is the billionaire’s experience – an all expenses paid trip to one of two special locations.

Beginning with the 979 millionth hand, a prize of $1,000 will be awarded to those players who hit the millionth interval. At the time of the billionth hand, the player who is lucky enough to hit this hand will win a prize of $1,000, but also the Billionaire’s Experience prize.

One of two choices are available for the Billionaire’s Experience. The first prize is a weekend chip to Monaco during the 2011 Grand Prix, which will send the player in VIP style. The second is an all inclusive private island holiday in the exotic Turtle Island of Fiji.

For the Monaco trip, a luxury accommodation in a high class hotel in Monte Carlo will be afforded, as well as private yacht hospitality with a view of the Circuit de Monaco race. Fine dining, a complimentary bar, and all expenses paid will be included.

The Fiji getaway includes a secluded and private trip to Turtle Island, at a luxurious beachfront that is in the top 10 best resorts overseas. It is also in the top 3 best boutique properties. Fine wines, spirits, champagne and meals are all included, as is full use of all island facilities. A personal Bure manager is there to cater to all of the winner’s needs. All expenses are once again paid.

With the clock ticking down, players now have the opportunity to deposit and begin working towards this once in a life time prize package.

December 29th, 2010 – by Glen Farmer

When the Pennsylvania casino industry was established, homeowners had been told to expect revenue from the casinos to help by providing tax breaks. The property tax breaks can now be expected in the year of 2011.

Halfway through the fiscal year, homeowners are now expecting to receive breaks on their property taxes. It is expected that homeowners will receive, on average, approximately $157 dollars in tax breaks.

Relief to homeowners will vary from one school district to the next. The districts with weaker tax bases and lower personal incomes are expected to see more relief for their property taxes.

Unfortunately, the state’s budget deficit is expected to lead to employee layoffs, despite the fact that the Governor of the Commonwealth said that the inclusion of table games into the state’s casinos would prevent job cuts of state employees.

In a budget briefing on Thursday, Governor Rendell said that the state could end the fiscal year with a budget deficit of $63 million dollars. The fiscal year ends of June 30th.

Over the last two years, a total of nearly 5,000 state government jobs had been cut.

Pennsylvania’s budget deficit had dropped significantly, however. The projected deficit dropped from $3.2 billion to $1.2 billion.

December 25th, 2010 – by Glen Farmer

Online casinos have ramped up the promotions for the holidays, but WinPalace casino has been offering more and bigger bonuses through Christmas than any other. Larger than their standard weekly bonuses, the Christmas weekly bonuses have proven to be enormous beyond the standard promotions, ushering in the most profitable promotions of the year.

For slots gamblers, four different bonus codes are available through December 26th. One bonus is available for each tier of the deposits that are available. Beginning at $21 dollars, the bonuses offer significant amounts of money to players that would accept them.

Starting with deposits of $21 to $99 dollars, the bonus code JINGLE1 will give a 200% match bonus. They then have the bonus code JINGLE2, which is good for a 240% match bonus on deposits between $100 and $234. The code JINGLE3 will give a bonus code 265%, starting with deposits of $235. A deposit of $450 or more will yield a 305% bonus using the promotional code JINGLE4.

Table gamers will find that their are three extra bonuses that can be collected through the casino. WinPalace provides players with a free 115% bonus with a deposit of $21 or higher. The bonus code BELLS1 is required in this case. Depositing $100 or more will give a bonus of 150%, provided the bonus code BELLS2 is used. The bonus code BELLS3 will activate a 180% match bonus on deposits of $195 or higher.

Each bonus code is good for use 20 times, and the bonuses may be accepted through December 26th.

December 20th, 2010 – by Glen Farmer

The Kansas Lottery Gaming Facility Review Board has granted a license to Peninsula Gaming for the Sumner County casino on Wednesday. The $260 million dollar casino proposal by Peninsula was chosen due to the suspicion that the casino will carry potential for generating more revenue than the competition.

A 6 to 1 vote by the Kansas Lottery Gaming Facility Review board supported Peninsula Gaming casino, which was chosen instead of the $280 million dollar proposal from Global Gaming Solutions, a company owned by the Chickasaw Nation.

The Racing and Gaming Commission must now sign off on the winning proposal. A background check will take place before it is actually approved. To date, no proposal had been denied by the Gaming Commission, though this could change with the Peninsula Gaming proposal. Two executives from the company have recently been charged with misdemeanor counts of violating Iowan campaign finance laws.

The company has, to date, denied breaking the law.

According to projections, the casino is estimated to generate approximately $192 million in revenue per year, which would be compared to the $141 million that Global Gaming Solutions’ casino would generate – a 27 percent difference.

The gap had proven even larger by other estimates.

It will still take a few years in order for the casino to be established.

December 19th, 2010 – by Glen Farmer

The smallest casino in Atlantic City, the Atlantic City Hilton Casino Resort is at risk of foreclosure, and is in default of its mortgage. In order to prevent lenders from seizing the gaming hall, the casino’s operators are going to attempt to prevent their casino from being seized.

The U.S. Bank National Association has already filed a motion asking for permission to foreclose. A hearing is now scheduled for Tuesday morning, being presided over by Superior Court Judge William C. Todd III.

If Judge Todd were to grant the motion, the bank would not be entitled to foreclose on the property immediately. An attorney for the Hilton’s owners is predicting that there will be a deep legal battle before the bank is allowed to take over the casino.

According to U.S. Bank, the Hilton ceased paying its mortgage in July 2009. As of September, the Hilton missed over $39 million dollars in interest payments on the mortgage.

The Hilton has been working to negotiate a debt restructuring, but no progress has not been made and talks are less than productive.

The Hilton will be requesting more time with which it may defend itself in the hearing.

December 16th, 2010 – by Glen Farmer

Officials in Laurens County stated that 11 businesses in the county have been shut down after a string of gambling raids found a series of illegal video lottery terminals operating in the businesses.

The businesses were investigated after complaints from the community had raised suspicions about the locations. The investigation was launched by Laurens County Sheriff W.A. Harrell and D.A. Craig Fraser.

In the raid, authorities seized vehicles, guns, marijuana, and over $70,000 in cash. One arrest has been made, with approximately 20 more expected to take place.

The raid came after undercover officers had observed that some machines were missing from businesses that had been under investigation. Casino gambling machines were only found in some of the locations.

In Georgia, gambling is almost universally illegal. Casinos are not entitled to operate in a land based environment, while gambling cruises do sale from a pair of cities on the coast.

Online casinos are entitled to operate, as are online poker rooms. There are no laws governing online gambling in the state of Georgia.

December 14th, 2010 – by Glen Farmer

After a series of protests regarding the distribution of funds related to oil spill compensations, casino employees may soon be entitled to receive reparations for damages related to the oil spill in the Gulf of Mexico.

Recently, the agency charged with the task of paying Gulf of Mexico oil spill claims has been seeking information from casinos that could ultimately be used to distribute funds to potential claimants who had been denied damage claims in the past.

Over the next week, casino employees should be receiving letters that detail the options that casino employees have in the claims process.

Mississippi casino employees made the claim that the oil spill had adversely affected their ability to earn. Tips and hourly wages are reported to be down due to the oil spill.

In order to prove that casino employees are deserving of the money from the claims, they will have to show what tips would have been if the oil spill had never occurred.

According to Attorney Kenneth Feinberg, the main who oversees the claims funds, the casino employees had been rejected due to revenue generally being up. Casino employees retorted with the fact that, although the casino is doing well, the employees may be suffering from reduced voluntary spending.

December 13th, 2010 – by Glen Farmer

A study has found that casinos in Indiana could save approximately $1 million dollars per riverboat per year if a new proposal is passed that would allow gambling companies to change the way their boats operate.

The proposal would allow the gambling companies to cease using motors, crews, and captains to keep the riverboats running. Due to a law that passed in 2002, which allows the riverboats to remain docked while gamblers participate in the games, these facets of the experience have become essentially superfluous.

The state’s lawmakers have stated that increased competition has been keeping Indiana’s casinos from performing at peak efficiency. “We want to do what we can to help our existing casinos compete without the expansion of gambling,” stated Senator Ron Alting (R-Lafayette), the chairman of the Senate Public policy Committee.

In addition to saving costs on the operation of the boats, this could allow companies to replace existing structures with barges rather than ships capable of transport.

Indiana’s gambling industry has been accepting some extra money from surrounding states, particularly Illinois. Illinois gamblers, who cannot smoke while they hit the games, have been going to Indiana in order to smoke while they play.

The biggest cause of concern is where the crews and captains will go for employment if they are laid off by the gambling companies who are no longer required to employ them.

December 11th, 2010 – by Glen Farmer

In November, Atlantic City’s casinos reported a 13 percent decline in revenue over the month. The new Jersey Casino Control Commission released the information on December 10th, showing a decline to $261.7 million.

Slot machine revenue dropped 12 percent from a year earlier, while table game proceeds declined 14 percent to $79.5 million.

New Jersey has reported declines over the last three years.

“The combined impact of the economy and increased competition continue to depress gaming revenues,” stated Commission Chairman Linda Kassekert in a statement. “People continue to spend time and money in Atlantic City, but they are looking or things other than just gaming.”

Due to increased competition in the surrounding areas, particularly Pennsylvania, Atlantic City’s casinos have been losing ground in the market. Pennsylvania, West Virginia, and Maryland have all been taking gamers away from the Atlantic City market.

A recent study has even found that gaming revenue in Atlantic City has been declining because people are spending less time and money within the casinos.

Nevada’s gaming revenue had been falling, but has recently posted increases in revenue in the region. October’s figures have just been released, showing a significant increase in gaming revenue.