The government of Macao Special Administrative Region (SAR) has decided not to develop its proposed areas reclaimed from the sea for casino projects, said the SAR’s Secretary for Transport and Public Works Lau Si Io this week. As the gaming hub of Asia, there are currently 31 casinos in Macao, the only place in China where gambling is legal…
Las Vegas – Debt-laden Station Casinos is trying to sell several parcels of land, including the former site of the Castaways casino. The 30-acre site on a gambling corridor off the Las Vegas Strip is listed with a commercial broker for an asking price of USD 39.5 million. The company is also listing for sale 7.96 acres of vacant land next to its Boulder Station casino and 4.7 acres adjacent to Sunset Station.
(Bloomberg) – Kangwon Land Inc., the operator of South Korea’s only casino open to local citizens, dropped the most since its listing seven years ago after the government said it plans to control gambling. Kangwon Land dropped 11.8 percent to close at 20,900 won, the most since the company’s shares started trading in October 2001. The benchmark Kospi stock index declined 0.05 percent.
The Krasnodar region announced Monday that it would hold auctions for land plots in the planned Azov-City gambling center on July 1. The gaming center, located on the border of the Krasnodar and Rostov regions along the Azov Sea, was created late last year as one of four national zones where the country’s gambling industry would have to move after a ban comes into effect for the rest of the country on July 1, 2009.
The Kewadin Shores Casino in St. Ignace can finally welcome gamblers, at least until a lawsuit is resolved over whether the casino can exist on land that’s ineligible for Indian gaming. U.S. District Court Judge Allan Edgar of the Western District of Michigan has issued an order allowing the Sault Ste. Marie Tribe of Chippewa Indians to open the casino until the court renders a decision in the suit. The tribe has sued the National Indian Gaming Commission and the U.S. Department of Interior to allow the opening of the casino, which is located 10 minutes from the Mackinac Bridge.
Las Vegas (AP) — Casino operator MGM Mirage said Thursday that it is buying several land parcels on the Las Vegas Strip for a total of USD 575 million. MGM is purchasing a 26-acre parcel from Gordon Gaming Corp. for about USD 444 million. It agreed to buy several parcels totaling approximately eight acres from Concord Wilshire Acquisitions for about USD 131 million in a separate transaction.
