New York (AP) -- Casino mogul Steve Wynn sued Lloyd's of London Thursday, saying the insurance company failed to act properly on his demands to pay USD 54 million in lost value for a Picasso that was damaged when Wynn accidentally poked a hole in the canvas with his elbow. The lawsuit in U.S. District Court in Manhattan sought an order to force Lloyd's to expedite Wynn's claims for reimbursement and restoration costs for Picasso's 1932 work, "Le Reve," by providing him with an appraisal report or initial damages assessment.

Casinos in Southeast Indiana enjoyed a robust December, but annual winnings fell short of the rest of the Hoosier State. Winnings were up double-digits in December at Argosy, Belterra and Grand Victoria. Winnings - the amount casinos gain from gamblers’ losses - were up double-digits in December at Argosy, Belterra and Grand Victoria but lagged the statewide 6.8 percent jump in 2006, according to the Indiana Gaming Commission.

Gamblers will soon have three spots to play Las Vegas-style slot machines in Broward County. The Isle of Capri Racino at Pompano Park harness track received its state slots license today, and racino managers hope to open the doors by the end of March. "I can't tell you how thrilled I am," said Doug Shipley, corporate vice president of racino operations for Isle of Capri.

World-renowned R&B, funk, soul and disco band Earth, Wind & Fire top the bill at the what ICE Ball organisers are promising will be 'an evening of pure decadence' on Thursday January 25th.

Less than two weeks before the Earls Court doors open, show organisers Clarion ATE have revealed that no fewer than 120 companies taking stand space at ICE 2007 will be exhibiting there for the very first time.

After two failed attempts to win a casino licence in its home country, local property giant CapitaLand has leapfrogged into Macau - Asia's gambling heaven - with a deal in its pocket. The Temasek-linked firm unveiled yesterday that it has taken a 20 per cent stake in Macao Studio City, a new entertainment and casino resort being developed on Macau's booming Cotai Strip. The site - right opposite Las Vegas Sands' Sheldon Adelson's new project - will cost CapitaLand USD 132 million to invest, a sum which could rise to USD 240 million if an application to increase the size is approved.

If early reservations are any indication, it won't take long for MGM Mirage's Project CityCenter to sell out. More than 1,200 people have paid between USD 10,000 and USD 25,000 to reserve either a condominium or condo hotel room at the USD 7 billion project between the Bellagio and Monte Carlo resorts. That number will continue to rise as CityCenter opened its sales center Tuesday with models of three of its four towers, giving the public a first chance to see what the residence and condo hotel will look like.

Last year, it seemed that investors in Atlantic City casino stocks flopped a winning hand. This year, however, a series of looming negative issues are shaping the city into a "bad beat." Later this month, the Atlantic City Council is expected to approve a smoking ban in casinos, which likely will hurt gaming revenue in the short run. Moreover, casinos in the city are now facing heightened competition from rival markets. "This is going to be a very challenging year for Atlantic City," says Joe Weinert, a consultant with Spectrum Gaming Group.

Shareholders of British gaming company Talarius have approved a STG 142.3 million (AUD 353.2 million) revised takeover offer from a joint venture comprising Tattersall's and Macquarie Bank. The Victorian-based lotteries and poker machines operator and Australia's largest investment bank formed the equal joint venture, called European Gaming, last November to make the bid and pursue other opportunities in the European gaming sector.

Harrah's Entertainment rang in the New Year with a trio of high-level executive resignations, possible harbingers of departures to come. On Dec. 28, the Business Press learned that Senior Vice President of Operations Tony Santo and Central Division President Anthony Sanfilippo were leaving the company. Both resignations became effective New Year's Day. Neither was formally announced by Harrah's. On Jan. 3, Harrah's informed the Securities & Exchange Commission of the resignation of COO Tim Wilmott, effective Jan. 5. Wilmott had been with Harrah's since 1987.

London (Reuters) - Ladbrokes said on Monday it had entered a joint venture in Spain with the country's leading slot machine company Cirsa Slot. Ladbrokes said the joint venture would soon apply for some of the new five-year betting licences being offered in Madrid, which started opening up its gambling market last month. The venture will also target other betting opportunities in the Spanish gambling market, which Ladbrokes estimated was worth 29 billion euros (19 billion pounds) last year.

If you're feeling lucky, then you might want to book a ticket to Macau. Forget Monte Carlo, Atlantic City, even Las Vegas. The sleepy coastal backwater, an hour ferry ride away from Hong Kong, seems set to surpass Vegas to become the gambling capital of the world. The gaming revenues in the Chinese-held territory are expected to top $ 6.8 billion this year, slightly more cash than Las Vegas' casinos will bring in.