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BAHA MAR APPLIES FOR CHAPTER 11


Baha Mar, the $3.5bn global gaming destination resort in Nassau, has filed for bankruptcy to ensure it does finally open Bahamas - Operations


The doors to the Caribbean’s largest casino, a 100,000sq.ft. ‘masterpiece’ served by 2,200 guest rooms across four hotels; Baha Mar Casino & Hotel, Rosewood at Baha Mar, Grand Hyatt at Baha Mar and SLS LUX at Baha Mar, should have opened at the end of March. However, Sarkis Izmirlian, Chairman and CEO of Baha Mar, the developer of the Baha Mar resort has announced that in order to complete con- struction and open Baha Mar as soon as practicable, Baha Mar Ltd and entities associated with it are vol- untarily undertaking the process of Chapter 11 under the US Bankruptcy Code.


The Board of Directors has determined that due to the financial consequences of the repeated delays by the general contractor and the resulting loss of revenue, the Chapter 11 process is the best path to provide the time to put in place a viable capital structure and working relationships to complete construction and successfully open Baha Mar. The voluntary Chapter 11 filing has been made in the US Bankruptcy Court for the District of Delaware. Baha Mar Ltd will be filing an application in the Supreme Court of The Commonwealth of the Bahamas seek- ing approval of the US court orders.


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Mr. Izmirlian has agreed to arrange the funding for the Debtor-in-Possession (DIP) financing facility, allowing Baha Mar to operate and meet its financial obligations in the interim during the Chapter 11 process. Specifically, the total DIP facility is up to US$80m of which up to US$30m will be utilised by Baha Mar over the next 30 days.


Mr. Izmirlian stated: “I am committed to doing all I realistically can to move Baha Mar forward to be completed and opened successfully. I am confident that, once opened, Baha Mar will be a world-class destination resort that will attract guests from around the world and serve as a key economic sparkplug to The Bahamas. The Chapter 11 process provides the appropriate venue to create a viable financial structure that places Baha Mar’s interests foremost. The general contractor repeatedly has missed construction deadlines. This has caused both sizeable delay costs and forced the resort to post- pone its opening.


California Pechanga Resort & Casino in Temecula, California has been named the favourite United States casino, according to a nationwide poll by 10Best.com, part of USA TODAY Travel. The Native American owned and operated resort/casino claims the top spot after four weeks of voting by readers. It edged out well-known resort/casinos including the Bellagio, Borgata and L’Auberge in established gaming destinations such as Las Vegas, Atlantic City and the South. Pechanga, the largest resort/casino in the state, initially made the 10Best.com list, along with two other California resort/casinos. “We are ecstatic about being voted number one,” said Lee Torres, Pechanga Vice President of Marketing. “We say a huge ‘thank you’ to everyone who cast their ballot for Pechanga. We all try every day to offer a distinguished standard of customer service.”


California Lottery completes WLA 4 certification with GLI


CALIFORNIA GLI has successfully completed a World Lottery Association Responsible Gaming (WLA-RG) Level Four Certification assess- ment for the California Lottery. The assessment was conducted by GLI’s Professional Services Division and Mike Randall from Engage Atlantic. With the suc- cessful assessment, the California Lottery becomes the only lottery in the United States to hold the WLA- Responsible Gaming Level Four Certification.


“We were very pleased the California Lottery chose GLI and our Professional Services Division and Mike Randall to


conduct this crucial, thorough assessment,” GLI Professional Services Director Gregory Doucette said. “Since creating the Professional Services Division in 2011, we have carefully assem- bled a team consisting of the industry’s foremost leading experts, and the California Lottery, like our other clients, can choose GLI, and be confident that their projects are carried out by the industry’s best.”


The WLA-RG framework is the lottery sector’s only internation- ally-recognized responsible gaming framework. The WLA- RG framework serves to inte- grate the Responsible Gaming


Principles into the day-to-day opera tions of the member lotter- ies. It has been designed with four levels of achievement and enough flexibility so that lotter- ies can build programs that are in accordance with the laws in their jurisdic tions and that accommo- date any organi sational, cultural or regional differences.


“The California Lottery spent the better part of one year preparing the material to earn these certifi- cations,” said Acting Director Paula LaBrie. “We consider this certification a great success and an important business milestone for our organization. It under- scores the California Lottery’s commitment to Responsible Gaming principles, and it shows our public that we are a good corporate citizen. We appreciate GLI’s Professional Services team for their invaluable assistance.”


LA PREMIÈRE INSTALLATION D’ARISTOCRAT Technologies en Europe de son concept haut de gamme Wonder Wheels a rencontré un vif intérêt des consommateurs la semaine dernière lorsque le jeu de machine à sous inspiré du Batman classique de la TV est allé en ligne au Casino JOA Les Pins aux Sables d’Olonne sur la côté ouest de la France.


KGM, LE FABRICANT ET DISTRIBUTEUR exclusivement américain des tables de jeux électroniques Alfastreet, marque une étape important dans son développe- ment. En effet, KGM a installé ses deux premières stations de jeux électroniques de roulette au Connecticut.


LES CASINOS DE PENNSYLVANIE ONT RENVERSÉ LA tendance en termes de recettes liées aux machines à sous, les 12 casinos de l’État ayant rapporté une légère augmentation de 0.7 % par rapport à l’année passée.


LE NOUVEAU DIRECTEUR GÉNÉRAL DE MERKUR Gaming Americas, Charles Hiten est aujourd’hui responsable des ventes du groupe Gauselmann en Amérique du nord, en Amérique centrale et Amérique du sud.


LE PLUS GRAND CASINO DES CARAÏBES, LE BAHA Mar Casino & Hotel, devrait avoir ouvert ses portes fin mars. Sarkis Izmirlian, Président-directeur général de Baha Mar, a toutefois déclaré que le promoteur du complexe touristique de Baha Mar avait annoncé que la société Baha Mar Ltd et les entités juridiques associées à elles se plaçaient volontairement sous la protection du chapitre 11 du code américain sur les fail- lites afin d’achever les travaux de construction et pouvoir ouvrir le complexe.


SEBASTIAN SALAT, PRÉSIDENT DE WMS International, a quitté Scientific Games. Ce départ a été con- venu d’un commun accord.


GREENTUBE A CONCLU UN ACCORD D’UTILISATION DE contenus avec Genesis Software International Ltd (Genesis Gaming). Le partenariat renforce ainsi la présence de Greentube en Amérique du nord dans la mesure où les con- tenus de Genesis Gaming seront introduits dans Greentube Pro, les plateformes de jeux sociaux de Greentube pour casinos sur terre.


MOHEGAN SUN A CONFIRMÉ QUE LE NOM DE SON complexe casino qui ouvrira ses portes à l’aéroport internation- al d’Incheon en Corée du sud sera « Inspire ». L’établissement accueillera un casino de 20 000 pieds carrés équipé de 250 tables et de 1 500 machines à sous.


MELCO CROWN ENTERTAINMENT A DÉVOILÉ UNE grande roue dorée inspirée des films épiques qui sera l’attrac- tion emblématique du complexe Studio City de 3.2 milliards de dollars que la société devrait ouvrir prochainement à Macao.


L’OPÉRATEUR NAGACORP BASÉ AU CAMBODGE A lancé la construction de son complexe casino dans la zone de divertissement de la région de Primorye dans l’est de la Russie pour un projet dont le nom pourrait être « Seaside Entertainment Resorts City ».


APRÈS UNE PHASE D’INSTALLATION DE QUATRE MOIS, le studio dernier cri flambant neuf est maintenant utilisé par la majorité des détenteur belges d’une licence A pour proposer des jeux de casinos en direct en streaming aux joueurs sur le marché encadré des jeux en ligne en Belgique.


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