Stratosphere Takes Gaming to New Heights NORTH AMERICA
US – Interblock has appointed Stephen Patton as VP of New Business Development & Technology. In this role, Stephen will be responsible for driving excellence in both products and
services through root cause analysis, training, automation, product improvements in addition to driving new business technology initiatives.
“With more than 20 years of gaming experience and more than thirty years’ experience in the technology field, Stephen has an extensive track- record delivering innovative end-customer and internal solutions both in small and large enterprises,” said Interblock CEO John Connelly.
Most recently, Stephen was VP of Asset Architecture and Global Applications for Concentrix, a global business services supplier of front and back office outsourcing and consulting services.
US – GLI has named Blaine Preston Senior Client Services Representative. In his new role, Preston will be responsible for delivering the highest level of customer service to key gaming
and lottery clients.
Preston brings more than 15 years of professional experience in regulatory technical compliance, risk management, and security operations to his new role with GLI. Most recently, Preston served as Director of Security for the Missouri Lottery where he managed the Missouri Lottery’s security staff, investigations, and system security compliance program. Additionally, Preston was responsible for conducting in-depth licensing and background investigations, as well as managing lottery security oversight for more than 4,800 licensed retailers throughout Missouri.
US – The UNLV William S. Boyd School of Law has announced that former Lewis Roca Rothgerber Christie gaming law partner Anthony (Tony) Cabot will serve as the law school’s first Distinguished Fellow in Gaming Law. Mr. Cabot practiced in the field of gaming law for more than 35 years and has been widely regarded as the most reputable gaming attorney in the U.S. He will continue to build upon UNLV Law’s reputation as a leader in gaming research and education.
US – GLI has named veteran gaming executive Raul Bouchot Senior Client Services Representative. In joining GLI’s growing Client Service team, Bouchot will play a key role in
providing unparalleled and personalised customer service to the company’s valued gaming and lottery clients across the country and around the world.
“We are happy to welcome Raul to the Client Services team here at GLI,” said Manager of Client Services, Justine Clay. “Raul brings a wealth of gaming industry experience to his new position as Senior Client Services Representative. His expertise will no doubt enhance our ability to deliver world- class customer service to our valued clients.”
P26 NEWSWIRE / INTERACTIVE /MARKET DATA
Golden Entertainment expects to begin work on the redevelopment project in the second quarter of 2018 and, to minimise disruption to the Stratosphere’s current operations, intends to phase the construction over a three-year period ending in the summer of 2021. Blake Sartini, Chairman and Chief Executive Officer of Golden
Caesars Entertainment in dispute over Indiana transfer fee
Indiana
Las Vegas-based casino giant Caesars Entertainment is ready to pull the plug on a US$90m casino project in Indiana if the Indiana Gaming Commission doesn't drop a US$50m transfer fee added to Caesar's purchase of Centaur Gaming and its two casinos.
Te project in question involves Caesars building a land-based casino on its Horseshoe property in Southern Indiana. Centaur Gaming and its Hoosier Park casino and racetrack in Anderson and Indiana Grand casino and racetrack in Shelbyville were snapped up by Caesars, who already owns two casinos in Indiana, for $1.7bn in November.
State legislation dictates that when a casino licence is sold on, the original license holder
Golden Entertainment is to spend $140m on redeveloping Stratosphere Casino, Hotel & Tower, in a move that will see a complete refresh of its iconic venue
Golden Entertainment bought the Stratosphere from American Casino & Entertainment as part of a four casino package for $850m last October
US OPERATOR NEWS
Te Stratosphere’s three year redevelopment plan will see state-of-the-art digital signage and lighting installed on the property’s exterior and a dedicated casino area conveniently located near to the Tower thrill rides to appeal to a younger visitor demographic. It will also transform existing unused space into approximately 50,000sq.ft. of meeting space targeted at modest-sized groups and conventions. It will renovate over 1,100 rooms, representing nearly 50 per cent of the existing room base. Golden will add a unique gastro- brewery, featuring its signature branded craft beer and menu, which will be connected with a remodeled, state-of-the-art sports and race book. It will also add a new steakhouse, noodle bar and other food outlets.
Entertainment, said: “Our strategic priorities for 2018 include the ongoing integration from the American acquisition, the introduction of a single loyalty card programme across all of our operations, and the commencement of focused capital investments at Stratosphere that we expect will further establish the property as a unique destination for visitors. Since completing the acquisition, our conviction has only grown stronger that targeted, return-focused investment in the Stratosphere will enhance our guests’ experiences and allow us to drive financial performance at the property.”
As well as the Stratosphere Casino, the deal brought the company Arizona Charlie’s Decatur and Arizona Charlie’s Boulder, as well as the Aquarius Casino Resort in Laughlin. Te company generated revenues for the 2017 fourth quarter of $184.3m, compared to $105.4m in the prior-year quarter. Te increase in net revenues was driven by the inclusion of 73 days of operations of American in the fourth quarter as well as revenue growth across the company’s existing casinos and gaming operations.
must pay a $50m transfer fee. Te issue has been complicated by Centaur's Chapter 11 bankruptcy eight years ago when the licence was transferred from Centaur's subsidiary Hoosier Park LP to Hoosier Park LLC.
Caesars claims that the fee should not now be applied because its purchase does not involve the casino's initial license holders.
Timothy Donovan, Executive Vice President for Caesars, said: “Caesars is now facing difficult decisions with regard to its $90m investment in southern Indiana. We would prefer not pulling it, but at this point we may have no choice given the continued uncertainty surrounding the $50m transfer fee.”
Indiana Gaming Commission Deputy Director Jennifer Reske said: “We’re very disappointed Caesars has decided to make the project in southern Indiana contingent upon a favourable opinion of the $50m fee.”
Virginia
Te Pamunkey Indian Tribe is looking for sites to build a $700m resort for what would be the first casino in Virginia. Te Department of Interior gave federal recognition to the Pamunkey back in 2015, meaning it could operate a casino on tribal land through a separate approval process. Te casino would be located in eastern Virginia and would include a casino floor, spa, performance venue and hotel with more than 1,200 rooms. Pamunkey Chief Robert Gray said: “Federal recognition and the opportunities that it brings will mean job opportunities, educational opportunities and the ability to provide better access to housing for our aging tribe members. Te resort is just a piece of that bigger vision and hope for our future.” Te tribe believes the resort and casino could generate $1bn in indirect economic impact annually, creating up to 5,000 construction jobs and 4,000 full-time jobs.
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