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CR62-p16-World2:SJC-Casino Review 25/11/07 01:17 Page 1
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Isle of Capri Casinos is 64.6m for the A total of 23 people have been arrested for involvement with
to take over control of remaining shares. Isle
Borgata
the illegal sports betting ring taking place in the high-stakes
the Isle of Capri-Black of Capri already owns sports poker room of the Borgata Casino in Atlantic City. “This was
Hawk in Colorado by Colorado Central Station
betting
an organised criminal group, including licensed casino
buying the 43 per cent in Colorado.
arrests
employees, that transformed a high-end poker floor at the
Isle close to Black
interest currently owned Borgata into an underground sports-betting ring that
by an affiliate of Nevada
continue to
siphoned $22m out of the legitimate gaming economy,” said
Hawk ownership Gold & Casinos.The
rise
Colonel Rick Fuentes of the New Jersey State Police. There
deal will cost US$ are no legal sports books in Atlantic City.
Soaring land value sees
Planet Hollywood investment
double by official opening
Having already proved a
$800m investment, at least on paper,
thanks to rising land values.
Atlantic City
gamble too far for one
Land value has been sent soaring
British casino company,
to Reval in
thanks mainly to MGM Mirage’s
another Brit, Planet
$7.8bn CityCenter, which is rising
new ocean
Hollywood co-founder
across the street from the Planet Hol-
lywood casino-hotel.
wave casino
Robert Earl, is gambling “We’re sitting on a very large profit
on a big comeback in the
even before we perform,” Earl said. “We
sculpture
capital of gambling, with
bought it inexpensively just at the right
time. Everyone else in the industry says newwave
the November opening of we stole it. On a personal level, I still UNITED STATES
his Planet Hollywood
have a lot to prove after what happened
Resort Casino on the site
with the Planet restaurant company Revel Entertainment Group
and I plan to silence the critics, if you has unveiled designs for its
of the failed Aladdin. like, with the success that I’m hoping $2bn venture in Atlantic City
we’re going to have in Vegas.” where a twin-tower mega-
doubleyourmoney Earl now owns 35 per cent of the casino aims to become an
UNITED STATES property, with Planet Hollywood Inter- ‘iconic architectural state-
national investor Bay Harbour Manage- ment’ resembling the nearby
The curtain came up on London-born ment LC owning a similar amount. ocean waves.
entrepreneur Robert Earl’s comeback Starwood, the hotel and time-share Reval is to be built on the
in Las Vegas in November with the company, holds 15 per cent, whilst the Boardwalk next to the Show-
opening of his latest venture, the rest is divided amongst various boat Hotel-Casino and is
Planet Hollywood Resort Casino on investors. Performance on the gaming expected to open in the
the Las Vegas Strip. which have remained. For example, gence, a re-launch of the brand and a floor will be supplemented by a series second half of 2010.
Confining the Aladdin Resort Casino the 7,000-seat Theater for the Perform- launch as a gaming, lodging and time- of time-share towers with 2,700 units The two towers, the first
to the annuls of failed history, the sand- ing Arts, which survived the redevelop- share company. It’s always nice to get being developed by Orlando-based phase of which will see the
stone façade of the former Arabian ment of the property in 1998, remains back to where you were. One needs Westgate Resorts on four acres. development of a single tower
themed casino has been replaced with an immovable object forcing visitors to try to grab attention, get everyone Earl sees further Planet Hollywood with 1,800 to 1,900 rooms with
futuristic metallic bubbles, whilst the using the car park to walk half-mile to get a first look and then the quality casinos being developed in Atlantic the second taking this total to
gigantic 20-foot-long Genie’s lamp through the mall to get to the casino. of the product will keep people City and Macau. “We see four or five big 3,900 rooms, will be comple-
inside the casino has vanished in a puff Such relics and the fact that Plant Hol- wanting to come back.” casinos, we don’t see 50,” he said. “We’re mented by a 150,000 square
of smoke. Having decided to renovate lywood isn’t the newest brand on the Following a soft launch in April, Planet totally focused on this one first, but I’m feet casino with 500,000
rather than implode, the venue clearly block: Earl’s wealth fell by $1bn as the Hollywood was still losing money up to always looking to the future.” square feet of dining, retail
still smacks of the Aladdin on the restaurant company he built filed for June, about $15m in the quarter, accord- Earl called upon Planet Hollywood and entertainment space.
outside although each revamped hotel bankruptcy protection again in 2001, ing to a filing with the US Securities investors Sylvester Stallone and Bruce It will open before another
room now showcases a piece of Planet and it has seen several analysts wince at and Exchange Commission. Willis to mark the hard opening of the new Boardwalk casino
Hollywood memorabilia, such as the his decision to form a consortium in But Earl said that, despite those con- renovated resort, alongside Arnold being built by Pinnacle
leather jacket John Travolta wore in the 2004 to buy the bankrupt Aladdin. Not struction-impaired earnings, which Schwarzenegger, Andre Agassi and Entertainment on land
movie Pulp Fiction. But there are still Earl though. He is confident of recoup- saw an investment of $300m added to Pamela Anderson, although the coup of where the old Sands Casino
many relics of London Club Interna- ing double his money already. the original $500m purchase, he and the weekend was a concert given by Hotel once stood.
tional’s troubled time in Las Vegas Earl commented: “This is a resur- his partners have already doubled their notoriously stage-shy Barbra Streisand. Kevin DeSanctis, the
company’s chairman and
CEO, said: “When you look at
the Atlantic City skyline today,
Canada to launch
it’s pretty expected. We
wanted to create an iconic
architectural statement.”
Request For Proposals
The casino-hotel project is
designed to have two thin
towers standing perpendicu-
for destination casino
lar to the ocean. The interior
complex, between the
towers, is curved and
rounded so that it looks as if
destinationunknown tourists in the province longer. design, construction, equip- ested operators will have to which have a destination it has been shaped by gentle
CANADA Further, the provisions for ping, financing or operation of undertake their own market casino,” Boudreau said. ocean waves.
ancillary services which will the destination casino complex. assessment and select an appro- The news was delivered in a Revel is partnering with
The Lotteries Commission of be part of the proposals made An independent third party con- priate site for the facilities new responsible gaming policy Morgan Stanley to build the
New Brunswick is to issue a on a destination casino will sultant, KPMG LLP, has been based on their analysis of the package unveiled by Premier new casino. As well as the
Request for Proposals (RFP) for weigh heavily in the assess- engaged to oversee the devel- market potential. Shawn Graham and Finance Reval and Pinnacle projects,
a destination casino in the Cana- ment process. opment of the RFP as well as The Lotteries Commission Minister Victor Boudreau which Atlantic City is also to host a
dian province, making it the Ancillary services could the evaluation of the bids. The will enter into an agreement focuses on responsible manage- $5bn MGM Mirage casino
ninth province in Canada to include, but are not limited to: a company will also act as the with the successful bidder, and ment and responsible play, in a resort complex in the marina
authorise a casino and/or standard-bred horse racing facil- fairness monitor for the submis- it is anticipated that a destina- responsible environment. district next to the Borgata
racino complex. ity, hotel, performance theatre, sion and evaluation process. tion casino complex will be in The new Responsible Hotel Casino & Spa. The MGM
Adding a destination casino meeting or trade and conven- This RFP for the destination operation in 2010. Gaming Policy includes cutting project is due to open in 2012.
into the variety of attractions tion facilities, special events casino will be open to inter- “Besides creating a new des- the number of video lottery Joe Corbo, president of the
which draw people to New venues, restaurants, lounges or ested parties, including private tination for visitors to the terminal (VLT) sites in the Casino Association of New
Brunswick is seen a means of specialty restaurants, retail facil- entities, First Nations and the province, it has been shown in province by more than 50 per Jersey, described the changes
broadening the visitation expe- ities, or recreation facilities. harness racing industry. other jurisdictions that the spin- cent, from 625 to 300. The ahead as ‘Atlantic City’s evo-
rience choices for tourists Boudreau emphasised that The RFP does not specify a offs in jobs, services, and other number of VLT machines will lution from a gaming-centric
coming to the province. It is also absolutely no government location for the destination industries are very beneficial to be reduced by nearly 25 per market to a full-fledged
believed it will help keep some funding will be involved in the casino complex and any inter- a community, and province, cent, from 2,650 to 2,000. upscale destination.’
16 December 2007 worldnews
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