Dec
2
2009
So, back to the recent announcement that the Mashpee Wampanoag Tribe has ditched investors Kerzner and Wolman, and has partnered with Arkana Limited of the Genting Group.REAC 1 Open House
Dec
2
2009
Just back from the presentations at today's open house for the REAC 1 building here on the University of North Dakota campus. The REAC 1 building is the first in the UND Research Foundation's Research Enterprise and Commercialization park. REAC 1 is the virtual home for Indian Gaming Now, and we were glad to join the other enterprises and companies in extolling the commercialization of academic research. And thanks to the UND Research Foundation for their support of Indian Gaming Now! And In More Casino Financing News . . .
Nov
30
2009
. . . the Mashpee Wampanoag Tribe in Massachusetts is switching its financial backers. The Tribe had partnered with Sol Kerzner and Len Wolman back in 2007, but now have reached a tentative deal with Arkana Limited, a company affiliated with the Genting Group.Harrah's Parent Company Rumored to Buy Foxwoods Debt
Nov
30
2009
According to the Norwich Bulletin, Apollo Management, the parent company of Harrah's Entertainment, is considering buying the Mashantucket Pequot Tribal Nation's casino debt.Because of the public nature of Indian gaming, the deal wouldn't work exactly like it might in private industry. Federal law -- namely, IGRA -- prohibits any entity other than a tribe from owning an Indian gaming operation. So, this isn't a potential takeover.
Still, Apollo could buy the debt at a reduced price, and profit by selling the debt when Foxwoods' profits return to pre-recession levels. Notice the "when," rather than "if" -- industry experts are optimistic about the gaming industry bouncing back from the recession, talking about recovery as a matter of time.
Visit to University of Manitoba Faculty of Law
Nov
21
2009
We were honored to serve as Distinguished Visitors at the University of Manitoba Faculty of Law this past week. As part of the University's Distinguished Visitor Lecture Series, we gave a public lecture on Indian gaming in the U.S., discussing the differences between federal Indian law in the U.S. and Canada, the law and policy governing Indian gaming, the tribal gaming industry, and the influence of Indian gaming. We also were privileged to participate in two classes during our visit. We joined a graduate seminar for LL.M. Skibine on His Role as Interim NIGC Chair
Nov
20
2009
George Skibine, the interim Chair of the NIGC, recently spoke publicly about his role -- or perhaps lack thereof. He said he expects his interim appointment to be short -- "seven months – max" -- and that during that time, he will not make any significant changes. "We're not going to have any regulations while I'm there," he said, indicating that the NIGC would not amend or promulgate regulations under his interim leadership.Update in Florida: Still Hope . . . ???
Nov
4
2009
Gov. Crist may have still been hopeful last week, but it looks like the Florida legislature has a different view. The chair of the state House Gaming Committee predicted that the renegotiated compact would not pass in the state legislature. Interestingly, the Committee has yet to make its recommendation to the entire House on whether to approve or reject the revised compact.