Inside Gaming: Connecticut Casino Bill Fails, Downtown Vegas Casino Announced
This week's installment of Inside Gaming starts with legislative news from Connecticut where a casino expansion bill has stalled, tells of an ambitious plan to build a huge new hotel-casino in downtown Las Vegas, and shares news of positive revenue reports from Indiana and Maryland.
MGM Bridgeport on Hold After Connecticut Casino Bill Dies in Senate
A quick update on casino expansion in Connecticut �� there won't be any, at least not in the immediate future.
Just before the state's legislative session ended this week, it was announced that a casino expansion bill which narrowly passed through the House late last week by a 77-73 margin would not be brought up for consideration by the state's Senate.
As reported by The Hartford Courant, Democratic Rep. Charlie Stallworth noted that the bill, H.B. 5305, would not be debated in the state's other chamber and stated an intention to "do the process again next year."
If passed into law, the bill would create an open-bidding process to companies wishing to build casinos in the state, requiring applicants "to submit an application fee of $5 million in order to ensure that bids are being made by qualified casino operators."
That would pave the way for entities other than the state's two federally recognized tribes, the Mashantucket Pequots and Mohegans, to build gaming facilities in Connecticut. In particular, it would make possible MGM Resorts International's intention to build a new casino, MGM Bridgeport, the plan for which was first announced last September.
The House had approved a version of the bill that still would require another vote after bids were received in order to provide legislative authority for the construction of any new casinos. However, the shelving of the current bill means the entire question will need to be revisited during the lawmakers' next session.
The Hartford Courant suggests that had the Senate taken up the bill, there would have been "a major battle" given the fact that the chamber "is tied at 18-18 for the first time in more than 100 years." In any case, Democratic Rep. Christopher Rosario, a proponent of the bill, expressed hope going forward.
"This is the first time in 25 years that any piece of gambling legislation has gotten out of the chamber, and we faced obstacle after obstacle," noted Rosario. "To even get to where we were is [a] herculean task, and I'm optimistic about our prospects next session."
Vegas Owner Announces Plan for New Downtown Casino
A little over a month ago we were telling about Las Vegas casino owner Derek Stevens's big NCAA Men's Basketball Tournament bet on his alma mater, Michigan. Had Michigan won the NCAA title, Steven stood to earn a cool $1 million for a $12,500 bet he'd placed at 80-to-1, but alas for him the Wolverines lost in the final to Villanova.
Stevens, who owns both the D Casino and the Golden Gate Hotel & Casino, had said he'd use the winnings to build a third casino in Vegas. This week came news Stevens plans to do so, anyway, as he announced an intention to build a new hotel and casino downtown.
This week Stevens submitted plans for a new 777-room hotel and casino the city for review, KVVU-TV reports. The plans describe a 460-foot hotel tower, nearly 118,000 square feet of casino space, and a parking garage.
The location is the block bordered by Fremont and Main Streets where the Las Vegas Club, Mermaids Casino and Glitter Gulch gentlemen's club had been formerly located. Structures on the site were demolished last summer.
Indiana, Maryland Casinos Show Increased Revenue for April
Casinos in both Indiana and Maryland saw increased revenue last month year-over-year despite the calendar offering one less Saturday in April this year compared to last.
The Chicago Tribune shares the Indiana Gaming Commission's report that the five casinos located in Northwest Indiana enjoyed a 5 percent revenue increase year-over-year during April, taking in $84.74 million during the month compared to $80.79 million a year ago.
The Ameristar Casino in East Chicago (up 17.9 percent), Horseshoe Hammond (up 2.8 percent), and Majestic Star I Casino in Gary (up almost 2.9 percent) were all up for the month, while the Blue Chip Casino in Michigan City (down 3.6 percent) and Majestic Star II Casino in Gary (down 1.3 percent) saw decreases.
Meanwhile on Tuesday Maryland Lottery and Gaming announced the state's six casinos also collectively showed a 5.7 percent increase for the month, totaling almost $143.5 million compared to the $135.7 million of April 2017, reports Southern Maryland News Net.
MGM National Harbor in Oxon Hill was up 15.6 percent and again was the biggest earner with $57.7 million in revenue. Live! Casino in Hanover totaled $46.8 million and was up 3.3 percent year-over-year.
Also showing increases were Hollywood Casino Perryville (up 7.3 percent), Ocean Downs Casino in Berlin (up 14.8 percent), and Rocky Gap Casino Resort in Cumberland (up 2.8 percent, with the only decrease for the month shown by Horseshoe Casino Baltimore (down 11.5 percent).
Photo: "Amanda Royale," Craig Hatfield, CC BY 2.0.
