Hard Rock Casino

Tulsa, Oklahoma Getting Hard Rock Casino Form Cherokee Nation

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Tulsa, Oklahoma will soon get to experience the joy of walking through a Hard Rock branded hotel and casino. That is thanks to an agreement between Hard Rock Hotel Holdings and the Cherokee Nation.

The Cherokee Nation must have the deal approved by the National Indian Gaming Commission. Once they clear the way for the Hard Rock brand, the 19 story hotel and the casino it is attached to will be decorated in the Hard Rock brand.

The hotel and casino are in the process of being built and they are almost complete. Although Hard Rock will be the brand, an ownership change did not take place and the Cherokee Nation will still run the casino and hotel.

“The Hard Rock Brand is one that is known all over the United States and the world. It is nice that Tulsa residents will now get to experience what people in other states have experienced for years,” said Hank Hydlum, a longtime resident of Tulsa.

The Hard Rock Hotel and Casino will be unique in that it will contain memorabilia and decor straight out of the Hard Rock brand, but it will also include influences from Oklahoma’s musical history and the Cherokee Nation heritage.

Trump Angling Towards Grace Period For Casino Interest Payment

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Donald Trump is one of the most successful businessmen in the world. That does not mean, however, that his companies are immune to the financial problems that the United States is currently experiencing.

Trump Entertainment Resorts Inc. announced on Friday that they will be taking advantage of a thirty day grace period for a $53.1 million bond interest payment. The payment is due on December 1st, but will not be made on time.

The company claims they are delaying the payment to ensure that they “maintain sufficient liquidity” in these difficult times. The liquidity is necessary at a time when many companies are starting to close the doors on their businesses.

Trump will have thirty days after December 1st to try and negotiate a deal with the lenders. They have said that their goal is to renegotiate the terms of the original agreement. There is no guarantee that an agreement will be reached.

In the past year shares of Trump Entertainment have dropped from $5.70 to $.31. The company is hoping, much like others in the casino industry, that a change in administrations that is coming in January will help revive the economy in the United States.

“Trump Entertainment needs the casino industry to turn around quickly or they could be facing the same fate that has already doomed several smaller companies,” said Mario Blumbuergo.

Casino Market

Tropicana Files For Bankruptcy As Casino Market Crumbles

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Tropicana Entertainment LLC has owned some of the most popular casinos in the world. They have run into financial trouble in these slow economic times, and on Monday, the company filed for bankruptcy.

The group missed an interest payment to Credit Suisse Group. The payment was due in response to a $1.32 billion loan that was given to Tropicana. Once the payment was missed, economic pressure grew on the company.

The casino industry, which many thought would be exempt from the economic instability of the country, has seen their revenue numbers fall fast. Many within the industry are worried about the recent trends which suggest that this slow time might not be an aberration.

Las Vegas, which has been a city that has survived economic trouble in the United States before, is struggling to stay afloat. Projects that were scheduled have been canceled, and revenue is just not reaching expectations.

The bankruptcy filing for Tropicana comes as protection against creditors. The company believes the filing will help regain economic stability. “I really view this as a positive step,” said Scott Butera, President of Tropicana Entertainment LLC. He went on to say that Tropicana is, “cash-flow positive and in very constructive dialogue with our lending groups.”

Columbia Sussex Corp., which is also owned by Tropicana owner William Yung III, will not be part of the bankruptcy proceedings.

Jamaican Church Leaders Battling Proposed Casinos

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Church leaders in Jamaica see the writing on the wall for the islands first casinos. They do not like the plan, and they have joined together to voice their displeasure with the proposal.

Prime Minister Bruce Golding has unveiled a plan to legislators that would bring Jamaica their first gambling casinos. The casinos would help to boost revenue on the island.

Church leaders seem appalled that the Prime Minister would go to these lengths to help raise revenue. They have called on legislators to reject the plan from Golding.

“It seems incredible that those charged with the administration of the country’s affairs should even think of introducing an activity which has shown to produce an increase in crime, violence, and moral degradation,” said Reverend Henley Bernard, from the United Church in Jamaica and the Cayman Islands.

Church leaders have already blocked several attempts to allow casino gambling in Jamaica. They vow that this time will be no different, and that legislators should consider all options other than legalizing casinos.

Golding is looking to further the current system. Slot machines do exist in hotels already. Under the new plan, developers would have to guarantee a $1.5 billion investment. That would include the casino, and also a hotel joining the casino with a minimum of 1,000 rooms.

Tropicana Casino

Tropicana Casino Owner Seeking License Back In Atlantic City

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The Tropicana Casino and resort had some tough times after William J. Yung took over as the owner. Within a year, he had severely slashed his employees, and the casino was in rough shape in both appearance and revenue.

In December, Yung lost the rights to the casino after the owner was stripped of his gaming license by the New Jersey Casino Control Commission. Since then, the casino has been being run by former state Supreme Court Justice Gary Stein.

While the Commission has been finalizing a deal to sell the casino, Yung and his lawyers are trying to get their license reinstated. They were in court on Tuesday to try and stop the sale.

“There is nothing in the (law) that suggests licensure depends on the commission’s approval of day to day operations, including staffing. No one has ever been denied a license on the basis of staffing decisions,” said Karen Confoy, attorney for Yung.

The commission sited several different reasons when they stripped Yung of the license in December. In addition to the almost immediate layoffs, there was also cleanliness problems at the casino.

The Commission felt that Yung was in over his head with the Atlantic City casino. “He had never endeavored to operate a casino hotel of this size and magnitude. The records show he was woefully unprepared for that daunting task,” said a lawyer for the casino commission, Steve Ingus.

The casino cannot be sold until a ruling comes down as to whether Yung can have his license back. Judges have stated they do not know when that ruling will occur.

Tribal Casinos

Tribal Casinos Making Mistake Fighting Dealer Union Activity

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Workers unions are a foundation of what America is about. While Indian tribes continue to build casino on their sovereign land, and disregard state law, they are fighting a losing battle against unions.

A decision has come down from an administrative law judge that says there was no mistakes in a federally supervised union election that took place at Foxwoods.

The Mashantucket Pequot Tribe was contending that the election took place with unlawful tactics by labor organizers. They also claimed that there was mistakes by the National Labor Relations Board.

The United Auto Workers union is the ones that held the vote that passed back in November. They won the right to represent 2,600 dealers at Foxwoods.

The owners of Foxwoods have taken legal action against the formation of the union. What they do not fully understand is the extent that American law goes to in order to protect unions. The United Auto Workers, in particular.

These unions have tremendous political influence, and if they are going to be challenged, it must come with much stronger issues than whether a ballot should have been printed in more than one form of the Chinese language. That is what the Mashantucket Tribe had been arguing.

Although the ruling came down in favor of the union, the tribe can still appeal the decision to the full labor board, or bring the case to Federal Court.

Either way, while many American Indian tribes can claim to not have to follow state laws on their reservations, once they move into State and Federal Court, they are fair game. And battling workers unions in American courts is not a winning bet.

Casino License

Three Bidders Pass Background Check For Aqueduct Casino License

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Aqueduct racetrack in New york is readying themselves for a new casino. It is still unknown who the developer will be to bring the casino to the track, but today they are one step closer.

Three developers have put in bids for the casino license for the new casino. All three have passed background checks, meaning that the process in choosing one of them will now move forward.

“We now started to discuss a process by which we pick a winner,” said Governor David Patterson. The state inspector generals office cleared all three of the developers.

Capital Play and Mohegan Sun, Delaware North, and SL Green and Hard Rock Entertainment are the three developers that are competing for the license. Governor Patterson, along with two legislative leaders will have the final choice of which one gets the license.

The new casino has been a long time in the waiting. The Project was originally approved back in 2001. In the past seven years, however, the project has not been able to get off the ground. There have been a series of mishaps both financially and legal that have slowed the process.

Windsor Student To Begin Three Year Study On Gambling Treatment

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Problem gambling affects many people and some respond better to treatment for their addictions than other. Why there is varying responses to treatment has not yet been figured out.

That will be the basis of a new program in Windsor. A student in clinical psychology at the University of Windsor will be receiving $25,000 a year to conduct the study until he completes his degree.

Kevin Gomes will conduct his study from the Problem Gambling Treatment Services Centre in Market Square. He will be monitoring gambling addicts in their quest to rid themselves of the problems of gambling.

“What we’re trying to accomplish…is to increase the productivity of gambling research. If we are to know what these predictors are..we could tailor the treatment,” said Gomes. Gambling addiction research is basically a new field, and Gomes believes he can make a difference by studying the behavior of addicts.

The factors that he will consider is how long people stay with their programs. He will also monitor how much stress and depression play a part in the addicts behavior. “No one’s really studied much (about gambling),” he said.

He will receive the money to conduct the study through the first G. Ron Frisch scholarship. The scholarship is named after Frisch, who is a psychology professor emeritus at the Problem Gambling Research Group for the university.