Casino Gaming Stock : The Most Volatile Industry

Penn National Gaming put rumors to rest this week when they announced the pending purchase of Beulah Park.

Isle of Capri Casinos is seeking to take control of Florida Gaming’s Fort Pierce Jai-Alai after the company defaulted on a $3 million loan last year.

Casino operator MGM Mirage has announced that under the terms of the credit amendment entered into last month, they will begin offering up to $845 million in aggregate principal amount of its 9% senior secured notes due 2020 in a private placement.

Executives from Las Vegas Sands is scheduled to introduce a proposal to Florida Legislatures today to bring Vegas style casinos to the state and add competition to the gaming monopoly now controlled by the Seminole Tribe.

Wynn Resorts has announced that they will host a 3 day workshop to help lure meetings and conventions back to Las Vegas.

Rumors began surfacing this week that Penn National Gaming may be close to finalizing a deal to purchase the Beulah Park horse racing track in Ohio and settle a pending court battle.

Las Vegas Sands has settled a dispute with the Macau Government to launch the sale of the Four Seasons apartment hotel tower on the Cotai Strip.

Pinnacle Entertainment has opened the River City Casino Complex in the St. Louis metropolitan area of Lemay on March 4th.

MGM Mirage will follow rival gaming companies Wynn Resorts and Las Vegas Sands onto the Hong Kong Stock Exchange later this year.

The Pennsylvania Gaming Control Board was not sold on the vague plans provided by Steve Wynn Chairman of Wynn Resorts to rescue the financially troubled Mashantucket Pequot Tribal Nation.

Bethlehem, Pennsylvania City Council members decided to table a resolution urging Las Vegas Sands to complete the stalled hotel, mall and events center in a 5-2 vote yesterday after plans were announced to resume construction.

International Game Technologies has announced that its Board of Directors has authorized a quarterly dividend payment of $0.06 per share to shareholders on record as of March 16, 2010, payable on April 9, 2010.

Pinnacle Entertainment allowed select VIP’s and Wall Street analyst a sneak peak of the $380 million River City Casino in St. Louis prior to tomorrow’s grand opening event.

The Missouri Court of Appeals reversed the Missouri Gaming Commission’s decision preventing Pinnacle Entertainment from repairing, replacing and or temporarily relocating the aging riverboat to make repairs to the hull, without surrendering its gaming license.

CryptoLogic Ltd, an Internet casino and branded gaming software company reported a narrower fourth quarter loss contributed to lower expenses.

Casino operator Boyd Gaming Corp. continues to see revenue drop, but was able to report a narrower loss due to prior year write-downs.

Las Vegas Sands Corp has denied rumors of recent reports that the gaming company planned to sell the Sands Casino resort Bethlehem in Pennsylvania.

A Pennsylvania newspaper reported that an undisclosed source with knowledge of high level discussions, reported that Las Vegas Sands Corp is seeking a buyer for its Bethlehem casino.

Monarch Casino & Resorts Inc released financials today for a busy fourth quarter 2009 reporting revenue down 3% to $31.9 million.

Efforts are underway to convince Ohio voters to approve the ballot measure to allow Penn National Gaming to move their casino from the Columbus Arena District to the west side.