Online Casinos Directory

In the world of gambling things are changing quickly. MGM Mirage just announced that it has built an agreement to sell Colorado Belle and Edgewater hotel/casinos. The locations are located in Nevada and are being sold for $200 million. Together the two businesses combine a huge offering to the market. They have over 2,500 suites for patrons, over 138,000 square feet of casino room, 2,225 slot machines, 72 table games, and hosted on over 55 acres of land. It’s no secret how popular the MGM Mirage name has become in the market. if you love gambling, then no doubt you have taken advantage of the brand. Anthony Marnell III is the current CEO and chairman of the MGM Mirage resort company. His team has joined forced with Sher Gaming, LLC. Together the group purchased the Saddle West Hotel and Casino in Nevada. The purchase means huge revenue for the company, but also is coming with a problem. The Nevada gambling industry has suffered since the recession. Sher Gaming LLC is going to have to find ways of bringing customers in and maintaining its own market share. It is going to have to push innovation in the gaming industry to remain viable.

One of the big changes in the market is the varying affiliations and joint ventures going on. It is a great time to watch the gambling market develop because of the varying changes going on. Remember that if you are new to gambling now is the time when you can take advantage of the widespread bonuses and promotions casinos are creating. With the various affiliations and gaming ventures, expect more to come into the market. In addition, the world of gambling is growing exponentially. It is worth about $3 billion now and that number is expected to grow to $7 billion in the next few years. That means that operators and owners of casinos are going to continue to push the envelope when it comes to gaining and maintaining customers. That means that customers are going to have huge advantages. They can find some of the best bonuses and specials—whether searching for an online casino or a land-based one.

Four of Nevada’s top casino companies — Las Vegas Sands Corp., Wynn Resorts Ltd., MGM Mirage and Harrah’s Entertainment — could be hurt by a move made Tuesday by Macau’s top leader. Land that was once set aside for casino development is being considered for other purposes due to the struggling casino industry. Several analysts and gaming company insiders wrote off the comments as political posturing. But others thought Chui, who replaced Edmund Ho as Macau’s top government official in December, was looking to slow casino development, telling Las Vegas-based gaming operators they need to submit plans for the sites, predominately on Macau’s Cotai Strip region, or lose the locations.

“The whole process will be made very transparent, but the land has to be taken back and some of it will be used for social housing,” Chui said. Each of the Las Vegas companies may feel the impact differently. “Other than those casino developments already approved, any further applications for casinos will be tightly controlled,” Pinge said in a research note. “We believe that the underlying message is no further casinos will be built on Macau in the foreseeable future.”

Gaming analyst David Bain said casino company shareholders are concerned “the new chief executive may be utilizing some specific language about needing to diversify or cap the growth in Macau.” Macau casinos, while up for the year, do not show the same size gains seen in past years. In 2009, Macau casinos collected $15.5 billion in gaming revenues, a 14 percent increase over 2008. However, 2008 had a 31 percent increase in gaming revenues following revenue growth of 47 percent in 2007 and 23 percent in 2006. Only one of the original four casinos is still scheduled to open in Macau this year, Wynn’s $650 million Encore project. Chui said Macau would allow new casinos as long as construction plans had been approved. “Apart from those we have agreed in principle in the past, in construction and those already approved, we will regulate (the building of new casinos) in the future,” Chui said . “We can’t think of a better place to build it, all things considered, namely the work force and government policy,” Wynn said. “We are constrained by the political process itself of getting the entitlements and the details done through planning and public works in Macau. We’re full tilt at that and our own planning process.”

The MGM Mirage recently announced that it is in talks to possibly sell its ownership of the Borgata Hotel-casino in Atlantic City. The decision is being made to settle an investigation by New Jersey regulators into the suitability of its partner in Macau. The New Jersey Division of Gaming Enforcement found that Pansy Ho was “unsuitable” because of alleged organized crime ties made by her father, casino mogul, Stanley Ho. The New Jersey organization suggested that the MGM Mirage cut ties with Pansy Ho if it was to continue operating in the state of New Jersey. They could have insisted that the MGM Mirage sell its ownership in the Macau operation. Earlier in the investigation Nevada regulators approved the partnership with MGM Mirage’s affiliation with Pansy Ho.

Las Vegas-based MGM Mirage could argue the New Jersey recommendation by taking the issue to hearings before the New Jersey Casino Control Commission. Rather, it is in discussions to settle its exit from the market. Boyd Gaming Corp. of Las Vegas, MGM Mirage’s partner in Borgata, would be a likely buyer of its partner’s stake but has declined comment on the issue. MGM Mirage released a statement today “it is currently involved in constructive settlement discussions with the DGE (Division of Gaming Enforcement), which have centered on the company placing its 50 percent ownership interest in the Borgata Hotel Casino & Spa and related leased land in Atlantic City into a divestiture trust for which MGM Mirage would be the sole economic beneficiary. While no definitive settlement with the DGE has been reached, the company has asked its lenders to consent to the trust arrangement. Any settlement is subject to both DGE and Casino Control Commission approval.”

The problems are big ones for the Ho family who have long been accused of having some affiliation with crime and corruption in the gambling world. Stanley Ho was the first to be accused of improper activities and now his daughter is seeing the same issues. Though they have venehemently denied any illegal activities or affiliations, they continue to be a staple in the world of gambling and of crime in gaming.

City Center is a huge project planned by the MGM Mirage and Dubai World. Both entities are hoping that the facility is able to spur business to Las Vegas and change the economy that has suffered greatly since the recession. The property, that officially opened this past Tuesday, includes a 57-story luxury hotel with 4,800 hotel rooms, retail and entertainment district, a casino called Aria, two 400-room boutique hotels and a spa.  The huge project is a 16,797,000 square foot project that is projected to cost approximately $11 billion.  It is set to be the largest privately financed development in the United States. The original cost estimate was $4 billion, but it was pushed up by rising construction costs and design changes. City Center is expected to open and create12,000 job opportunities for locals. It is also planned to open in phases beginning this month.

MGM chairman and CEO Jim Murren referred to the project as a “story of rebirth.” He is citing the earlier problems the facility had. Dubai World and MGM Mirage were in the middle of a legal court battle, until they settled out of court. The agreement swiftly made it possible for them to go ahead with the planning of City Center.  Many thought that once the legal issues began, the project would be indefinitely on hold. Fortunately differences were quickly settled and the facility was able to continue its construction.  The billion-dollar facility is set to aid in not only bringing business to its own high-end offerings, but bring business to the city of Las Vegas as a whole.

Now that legal problems seem to be over, investors are pushing casino stocks up much quicker than expected. This may be a sign that the economy is on its way to a recovery and people are ready to start investing in big-ticket projects like City Center. Casino Stocks Index was up to 3% and has broken ahead of the S&P 500 fractionally over the last month.  Hopefully this surprising change means that the economy overall and the Las Vegas economy are both ready to do a full turnaround. Overall numbers in Las Vegas have been down as much as 12% throughout the past year. The city is ready for a major turnaround and hoping that City Center is going to spur on business once again. 

An affiliate of Deutsche Bank recently filed for a casino license and requested to be sole owner of The Cosmopolitan Resort and Casino. The bank declined commenting on whether or not it eventually wants to sell the project or it if is negotiating with a third-party company to take over operations of the facility. Analysts are questioning Deutsche Bank’s secrecy and why managers are declining to comment on the nature of the negotiations. The secrecy is making many question the motives of the bank and the affiliates.

Rumors are flying about the bank’s motive and purpose to the license. Some are saying it may be an agreement with Hilton Hotels Corp. to operate the property under the Conrad and Hilton brands. Thought he bank has refused to comment, they have not addressed that particular rumor at all. The license application was filed by Nevada VoteCo., a limited-liability company that is 100 percent owner of The Cosmopolitan Resort & Casino. Earlier last year the Deutsche Bank purchased the project for $1 billion in foreclosure.  New York developer Bruce Eichner and his business partners defaulted on the $760 million loan attached to building the casino property. At the time the casino was only 50% completed and was still in need of serious work before it could be opened. Right now the development is scheduled to be opened in September of 2010. It is a $3.9 billion dollar facility that spans 8.5 acres between the MGM Mirage’s “City Center” and the Bellagio.

Analysts are watching developments closely wondering if Deutsche Bank is making itself ready to move into ownership or if the bank is looking to profit off its sale. In today’s market the global economy is suffering from the recession. Many businesses and every country are looking to find additional revenue-generating solutions to their financial problems. Almost every one is seeing using gambling in some form as a way to generate additional revenue. Other options are no longer on the table and gambling is the most viable option to bring money into the economy. With the billions of dollars in the gambling market, most are seeing it as an option that is most feasible.