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The Weekly Gaming Business Wrap -- 12/1/12

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Here’s a look at the headlines for this week in the gaming business world.

Quinn, Emanuel Very Close On Chicago Casino Deal

Chicago Mayor Rahm Emanuel and Illinois Gov. Pat Quinn are reportedly very close to a deal that would give schools 100 percent of the tax revenue from a proposed Chicago casino. The two are hoping to have a bill submitted by Jan. 9.

Ameristar Drops Casino Resort Bid In Massachusetts

Ameristar Casinos has announced that it will end its bid to develop a $900 million casino resort in Springfield, Massachusetts. The Las Vegas-based company, which purchased $16 million of land in the region, believed it did not have a realistic chance at winning the casino license. The bid will now go to either Penn National Gaming or MGM Resorts.

Mississippi Casino Revenue Dips To 15-Year Low In October

Mississippi casino revenue dropped to $167.4 million in October, the lowest numbers since 1998. The drop represented an 8 percent loss from 2011, when the state’s casinos took in $182.2 million. Officials blamed the calendar for the poor numbers, since there were less weekend days during the month.

Cantor Gaming and Silverton Casino Announce New Sports Book

The Silverton Casino in Las Vegas, along with Cantor Gaming, have announced the grand opening of a brand new 2,000 square foot sports book. The facility will feature Cantor’s wireless gaming systems and a high definition 2.35 million LED pixel video screen capable of showing up to 16 different sporting events simultaneously.

California Company Buys Ravella and Casino MonteLago at Lake Las Vegas

A California real estate company has acquired the Ravella and the Casino MonteLago at Lake Las Vegas for $46.8 million. The Arcardia-based company bought the casino and the 349-room hotel from Village Hospitality LLC, who acquired the property in 2009 after the previous owners filed for bankruptcy.


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