Global Casino BOOM

Just a quick note.  No, I have not abandoned this site like many casino companies have abandoned their projects this year.  Ive been working on another series of websites totally unrelated to the casino business and am now done.  I will get back to giving this site 100% of my attention starting Monday, and you can expect almost daily posts from there on out -  i promise.

Lets just hope though that the global casino business starts booming again, or I’ll have nothing to write about.

I apologize for not having written anything in the past two weeks.  I really blame it on two things:

1) Not a lot of new announcements.  I do have a list of things that Ive been keeping track of and I’ll get around to posting them probably this weekend, so stay tuned.  But overall, nothing too exciting so dont get your hopes up.

2) The gaming industry has just gotten downright depressing lately.  Im losing track of all the projects that are being canceled, dismantled, delayed, etc.  It seems like we are truly witnessing a Global Casino BUST (I dare someone to register that domain name).  Ive lost my enthusiasm for all the great things being planned, built and discussed aroud the world.  I know things go in cycles, so hopefully we’re near the trough of this global slowdown and things will pick up again.  Sooner or later the credit markets will open up, projects will get financed, companies and governments will get greedy all over again and start planning new mega casino resorts, and the cycle will repeat

Thanks for your patience.  Maybe a few kind words of encouragement will get me out of this funk.

All across the United States new casino projects are being modified, put on hold, or dropped due to a terrible credit market environment.  Most large new casinos are financed heavily with debt, and when that debt is no longer available, or available only at prohibitive rates, things can come to a halt - which is what we’re seeing (more…)

GlobalCasinoBoom.com | If you follow this business long enough, you realize one thing - it is a business for dreamers. Some dreams come true, but most dont.

In an attempt to control gambling, the Russian government plans to close down casinos throughout the country. However, they will allow gambling in four zones of the country, with the hope of transitioning its casino industry into more of a resort gaming (more…)

If you love Vegas, check out my new Las Vegas blog, Daily Dose of Vegas. It should be bookmarked and part of your everyday reading. If you dont love Vegas, check out this entry on why you should still read my new site everyday.

Congratulations to George Maloof on the opening of his condo tower at The Palms in Las Vegas. If you’re not familiar with this place, you may recognize it for its continuous celeb sightings or it Playboy Club. (more…)

Im back.  I posted several newsworthy items below that Ive missed over the past few weeks, and will add two multi-story posts on Vegas and Goa over the next day or two.  That should catch me up.

…but have been very busy with a few things.  I’ll probably be back early next week, but have kept a list of items of interest and will post on them when I get the time next week.   Things get crazy a couple times a year so you’ll notice that I normally try to post every day or other day.  Thanks for patience.

When the Wall Street Journal picks up on something, you know its probably the real deal. The paper had an article called “Vietnam Makes Bet on Gambling”. You need a subscription to read it, so i’ll point out a couple facts, then ask you to read my updated Ho Tram Strip page where I have added data from a factsheet on the company’s webpage.

From the WSJ:  (more…)

This is really big news. It means the Vietnam casino boom that has been discussed is finally taking shape. The developer of the Ho Tram Strip casino resort, Asian Coast Development, has been given the green light by the Vietnamese government and is scheduled to break ground on the resort this Saturday.

Phase I of the Ho Tram Strip will cost $4.2 billion and will consist of two hotel towers with a combined 2,300 rooms, a 500 slot machine 90 table casino, golf course and im sure all the bells and whistles of a $4 billion resort. Ho Tram (more…)

CasinoJournal.com did an interview with the President and GM of the new Hard Rock casino in Biloxi. In the interview, the GM talks about his casino and how Biloxi is faring after the devastation left behind by hurrican Katrina. (more…)

Here’s an interesting article from Friday’s WSJ that is definately worth a read. It talks about Bruce Eichner, the guy behind the Cosmopolitan casino.

It looks like he’s about to lose control of the whole casino project now after defaulting on his loan:    (more…)

By now everyone has seen that the historic (if casinos can be historic) Tropicana has gone bankrupt.  Let this be a reminder that not all casinos BOOM.  Some actually go BUST.

The Tropicana is still making money, but its problem is that it is unable to service the interest payments on its massive debt load.  Dont worry (unless you’re the owner!), the bankruptcy court will help restructure the company’s debt, and the Tropicana will be back to new.  Ok, not new.  Not even close to new.  But at least in working condition.

When casino revenues drop from a soft economy, smoking bans, and new competition, the last thing you want is too much debt.  That was the Trop AC’s problem.  Its gaming revenue dropped 15% through the first quarter of 2008 (on top of an ugly 2007).    (more…)

Didnt I just write about a new theme park announcement for Dubailand? Well that was two days ago so of course its time for another theme park announcement. This time its Legoland! (more…)

The NY Times had two Vegas articles today. One was encouraging, and one wasnt.

Encouraging: A new breed of young guns are remaking Vegas, but I dont think Steve and Sheldon have anything to worry about - yet.  (more…)