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Okada Group Terminates Casino Deal With Century Properties

March 27, 2014

"Everyone loves (the Musik Express)," said Mastoris. "They love the DJ, the sounds, the music. I think a lot of people are thrilled about that just as much as we are." Mastoris said the pier will also have a new ride called the Air Race, which is designed to give thrill seekers the experience of an acrobatic flight, and a ride geared toward younger children called the Jump Around. That ride allows children and their parents to take a spin in one of six different four-seat beach buggies. There won't be a roller coaster this year though.
For the original version including any supplementary images or video, visit http://www.nj.com/ocean/index.ssf/2014/03/seaside_heights_casino_pier_plans_three_new_rides_for_summer_2014.html

Photo shows the artist It said it sent a notice of dispute to the companies, triggering a mandatory 21-day period of discussion among the parties. While the period of discussion was still in effect, CGP said the Okada companies still proceeded with the termination. CPG said it was still open to proceed with the deal, "if our dispute is resolved in a constructive manner in the days to come and if all conditions are met to protect the interest of our shareholders." The company said it allocated $12 million for the casino project sourced from its existing cash balances. Okada's group holds one of 4 licenses handed out by Philippine Amusement and Gaming Corporation (Pagcor) for casino projects worth at least $1 billion each in Entertainment City. Other franchises are held by the tieup of Australian billionaire James packer and Macau gambling tycoon Lawrence Ho, and the firm of port billionaire Enrique Razon Jr.
For the original version including any supplementary images or video, visit http://www.rappler.com/business/industries/410-gaming/54044-okada-group-casino-deal-termination-century-properties

Harrah's to close casino in Mississippi

Harrahs_casino_tunica_mississippi Gambling revenue in the Tunica area is down more than 25 percent from 2008, from $1.1 billion to $826 million. Visitor count, or "foot traffic," for that area is down from nearly 16 million to about 6.3 million, a nearly 61 percent decline, industry officials told lawmakers. Overall, Mississippi's 30 casinos employ more than 23,000, and taxes and other collections provide roughly 5 percent of the state government budget. Republican state Rep. Richard Bennett, chairman of the House Gaming Committee, said Caesars has given state leaders assurance "it is going to reinvest millions of dollars into the Harrah's brand." "Even though it's hurting, (Tunica) is still a viable market," Bennett said. Bennett said Mississippi, a Bible Belt state that has always had an uneasy relationship with its casinos, may have to consider helping the industry.
For the original version including any supplementary images or video, visit http://www.usatoday.com/story/news/nation/2014/03/27/harrahs-to-close-casino-in-miss/6945389/

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