Financial researchers don’t believe the gaming industry will see a revival in 2009. This week, Moody’s Investors Service downgraded MGM Mirage’s $7.8 billion debt. Caustic stock forecaster Jim Cramer told his CNBC television audience to avoid investing with the gaming sector. Now, Fitch Ratings has smacked the industry in a blistering report. The investors service [...]
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The U.S. Supreme Court has declined to hear an anti-Indian casino group’s appeal challenging the Interior Department’s decision to take land into trust for the Gun Lake Tribe’s proposed casino. The high court’s action Jan. 21 effectively ends Michigan Gambling Opposition’s 10-year run of legal actions and public relations efforts to delay and stop Gun [...]
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A turnaround expert working with Greektown Casino said the casino could keep operating even if additional loans needed to pay for the hotel are not approved by the U.S. Bankruptcy Court. Charles Moore, senior managing director of Birmingham-based CM&D, said the casino needs $46 million in additional loans to finish its 400-room hotel, which is [...]
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After a little time off from this blog, it’s good to be back! Sorry, we’ve been a little inconsistent lately with our blog posts, and haven’t posted nearly as often as we usually do. With the holidays well behind us, that shouldn’t be a problem any longer, and everything should be back to normal. Look [...]
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