North America News - Page 1210

News Brief: Thousands of VIP guests will party at invitation-only events tonight to kick-off Friday's grand opening of the new $250 million Morongo Casino, Resort and Spa.

Magna Entertainment Corp.’s parent company, MI Developments Inc. has agreed to provide project financing for the reconstruction of facilities at Gulfstream Park race track in Florida of $115 million and at The Meadows race track in Pennsylvania of $77 million.

A casino industry trade group is exploring creating a global think tank on gambling addiction that would involve alliances between research institutions worldwide that specialize in addiction studies.

Belterra Casino Resort & Spa will maintain its status as the ‘Official Hotel and Casino of Kentucky Speedway’ through 2007 thanks to a new marketing partnership.

The owner/developer of an Acapulco gaming establishment is benefiting from a $4,000,000 expansion loan from direct private lender Kennedy Funding, based in Hackensack, New Jersey.

The consolidation that is occurring in the gaming industry is a sign of its maturity and success, an American Gaming Association executive said today.

Although the slide in value of the American dollar abroad is looked upon as a sign of economic weakness, it's also a sign that it's time to roll out the global welcome mat.

Boomtown Casino and Hotel Reno will toast 2005 with a New Year’s Eve celebration of free champagne, party favors and free live entertainment.

A selection of news and views from inside the industry this week.

The ownership of the Aladdin agreed Friday to allow more than half of its work force to be represented by Culinary Local 226 after a significant portion of the Strip resort's employees signed union authorization cards seeking representation by the state's largest labor organization.

In a quest to complete its proposed $7.9 billion acquisition of the Mandalay Resort Group during the first quarter of 2005, MGM Mirage plans to sell its Detroit casino and keep that city's Mandalay-owned casino.

GTECH Holdings and the owners of privately-held Gauselmann Group have entered into an agreement whereby GTECH will acquire a 50 percent controlling equity position in the Atronic group of companies owned by Gauselmann.

Pala will welcome the New Year by featuring live performances from such legendary entertainers as George Carlin, Regis Philbin and Susan Lucci, Al Jarreau, Joe Cocker and Jeff Foxworthy.

American Casino & Entertainment Properties LLC on Wednesday reported net income of $4.2 million on net revenue of $75.1 million for its quarter ended Sept. 30.

MGM Mirage said today it may sell its MGM Grand casino in Detroit after receiving several offers from potential buyers.

News Brief: Gov.-elect Mitch Daniels, who said he's concerned about the financial problems of Donald Trump's casino company, wants the Indiana Gaming Commission to wait before sealing the deal with them to build the state's 11th casino in French Lick.

News Brief: Local schools are finally starting to receive direct tax benefits from casinos, more than a decade after the first riverboats began cruising the Des Plaines River.