Just weeks after announcing its bid for one of the four casino licenses in New York, Caesars Entertainment Corp.'s CEO said on a conference call that the company wouldn't rule out closing some of its New Jersey properties.

(Bloomberg) -- Caesars Entertainment Corp., the largest operator of casinos in Atlantic City, New Jersey, is looking for ways to reduce capacity in the struggling market, including closing properties.
"We are looking at all of our options to reduce the cost of doing business here," Chief Executive Officer Gary Loveman said Wednesday on a conference call after reporting a wider first-quarter loss. "All the businesses in A.C. are under tremendous pressure."
This comes just weeks after the casino operator announced it was placing a $1 million bid for one of four available gaming licenses in New York.
Caesars has been struggling to remain solvent amid a glut of casinos and weak consumer spending, following a 2008 leveraged buyout that left the company with about $23 billion in debt. The company said in March it would close a property in Tunica, Miss. That move may set a precedent for other markets like Atlantic City, Mr. Loveman said.
"These markets can reach points when no new supply is indeed the right answer," Mr. Loveman said. "In some cases reducing supply is the right answer."
The company owns four casinos in Atlantic City—Caesars, Bally's, Harrah's and Showboat. Mr. Loveman didn't say specifically that a casino would close. The company has already taken steps to cut costs, such as reducing restaurant hours, according to a spokesman.
Las Vegas-based Caesars, the largest owner of casinos in the U.S., rose 14% to $21.18 at the close in New York after unveiling plans Tuesday to refinance debt. The shares have lost 1.7% this year.
The Atlantic Club, formerly the Atlantic City Hilton, closed in January, a trend Mr. Loveman expects to continue.
"That's the normal, self-correcting healing that you'd like to see in a market like this," Mr. Loveman said.

Any online casino player has surely bumped into EntroPay in his online gaming experience. That is because EntroPay is among the most popular payment methods worldwide, taking its success to online casinos in which it is supported.

What is EntroPay?

In essence, EntroPay serves as a prepaid virtual card which can be used wherever VISA credit cards are accepted. EntroPay intrinsically serves the purpose of a VISA credit card, with the only difference being that it is not tied to any bank account. Players can open a free EntroPay account in a matter of minutes and then to fund their account using their personal credit or debit card - this is called "Funding Source" in the EntroPay online card management system.

Once that is done, payments can be processed using one's EntroPay account without any VISA intervention. This guarantees 100% privacy to players as none of their personal information is transmitted to the online casino.

The Benefits of EntroPay

There are a few main benefits for using EntroPay. First is its privacy factor which doesn't reveal any personal information about the players. EntroPay is also very safe - certified by the Financial Services Authority of the UK (FSA). EntroPay requires no credit check meaning there are no restrictions on who can use the payment services - EntroPay accepts customers regardless of credit history. Lastly, it's very easy to use and an account can be created in a matter of minutes.

All these factors contribute to making EntroPay one of the most popular payment methods in online casinos - it is also commonly supported by online casino's cashiers for withdrawals, like in the case of 7Sultans Casino which lists EntroPay as a supported withdrawal method.

Leaders of three Western Pennsylvania casinos on Thursday dampened a mostly feel-good public hearing for a proposed Lawrence County racetrack and casino with calls for state gambling regulators to spare the market another high-stakes business, especially one backed by taxpayers' money.
“Public money has not — and should not — be used to develop casinos,” Craig Clark, general manager of Pittsburgh's Rivers Casino, told members of the state Gaming Control Board during a nearly five-hour meeting in Mahoning, about 60 miles north of Pittsburgh near New Castle.
Clark said all of the state's 12 operating casinos “had to finance their own development.” Approving Lawrence Downs Casino and Racing Resort would change the rules, he said.
“That's not the level playing field this Gaming Board has promised Pennsylvania casinos,” Clark said.
At stake is the state's final racetrack and casino — or racino — license. Seven were approved when lawmakers legalized casino gambling in 2004. One was promised to Lawrence County, which has struggled for a decade to find a developer who could pull off the project.
Officials with Endeka Entertainment and Penn National Gaming believe they now can build Lawrence Downs, a $210 million development with a one-mile harness racing track and a casino with 1,000 slot machines and 36 table games.
Developers said the racino would make 1,000 construction jobs and could be built within 18 months. Once in operation, it would provide 600 full- and part-time jobs.
“The project will stimulate needed economic development in our community,” said Charles “Chuck” Long, a New Castle businessman and local face of the development group. “This community has given me and my family so much. I felt the need to get involved in some pretty dark days for this project.”
Previous attempts fell through when the first developer went bankrupt and the second could not secure funding.
Long's group, American Harness Tracks, joined forces in 2012 with Endeka, a Philadelphia-area outfit headed by Manuel Stamatakis, founder and CEO of Capital Management Enterprises, and fellow investors Ed Snider, owner of the NHL's Philadelphia Flyers; Peter DePaul, president of the DePaul Group; and attorney Thomas Leonard, Philadelphia's former city controller.
To manage operations, Endeka attracted Penn National, North America's largest racetrack gaming operator, which also controls a racino being built 20 miles away outside Youngstown, Ohio.
To help finance Lawrence Downs, county commissioners ponied up $50 million in bonds to be repaid with the annual local share paid by the casino. That money typically pays for economic development projects, which is what commissioners say the casino will be.
“Competition should not be feared. It should be embraced,” said Dan Vogler, county commission chairman.
Dozens of other elected and civic officials as well as local residents voiced support for the project.
“We have a lot more (casinos) than we once had, but we need to learn how to compete,” said state Rep. Chris Sainato, D-New Castle. “You don't have a promise of making as much money as you once dreamed.”
Many in the crowd of about 200 people booed Washington County Commissioner Diana Irey Vaughan out of the room after she urged the board to deny the license for several reasons, including use of public money to build a facility in a saturated market with declining revenues.
Operators of The Meadows Racetrack & Casino in North Strabane, Washington County, along with the Rivers Casino and Presque Isle Downs & Casino in Erie, said the state would be better served to find a home for its last racino in central Pennsylvania.
“It's not just about Lawrence,” said Sean Sullivan, Meadows general manager and vice president. “It's about what is the right decision for the commonwealth.”

Traditions at the Glen has chosen its design team for its proposed gambling casino.

Traditions selected Endwell-based Delta Engineers, Architects and Land Surveyors. Delta will lead the team in partnership with JCJ Architecture of Connecticut.

JCJ has designed 100 casinos over the past 30 years, including many in the Northeast. For Delta, this will be the firm's first casino, an exciting challenge according to its President and CEO Anthony Paniccia.

He says Delta's commitment to the local area and JCJ's expertise and connections are a good combination.

"I think the experience they have with the RFA process, with the gaming industry, with the gaming operator, is essential in moving this project forward to the next level to get accepted by the State of New York," said Paniccia.

Delta also recently hired engineer Don Harris who helped to design Tioga Downs, the Meadows Casino in Pittsburgh and Mohegan Sun.

Both Harris and Paniccia say Traditions' owner Bill Walsh is committed to designing a casino that matches and compliments the existing architecture of the former IBM Homestead.

They sat shoulder to shoulder before the state’s highest court Monday, though their opinions on the case at hand could not have been further apart.

Anticasino activist John Ribeiro, on one side, is part of a group asking the Supreme Judicial Court to allow a measure to repeal the state’s 2011 casino law to appear on the November statewide ballot, so voters can decide directly if they want casinos in their state.

Next to Ribeiro in the crowded courtroom sat casino executive Michael Mathis, president of MGM Springfield, hoping that the justices would quash the repeal effort so his company can begin construction soon on a gambling resort that would generate thousands of jobs.

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For about 50 minutes Monday, they watched as justices peppered lawyers on each side of the dispute with tough questions, probing their arguments in a closely watched case that could affect the future of the casino industry in Massachusetts.

Lawyers argued about the consequences of a possible repeal, and whether the state would have to reimburse casino developers for money spent trying to win a license.

“If common sense prevails, we’ll be on the ballot in November,” Ribeiro, head of the Repeal the Casino Deal campaign, said after the oral arguments.

Mathis, on the other hand, said his company has already spent $30 million to $40 million on its pursuit of a casino license in Springfield, and “to not even be able to open our facility . . . I think is troubling.”

A decision on the repeal measure is expected this summer. Secretary of State William F. Galvin needs to know the outcome of the case by July 9 in order to prepare the ballots.

Galvin said Monday that casino opponents will be permitted to collect required signatures while the court deliberates. Those seeking to repeal the casino law must collect 11,485 new, valid signatures by June 18 to stay in contention for a spot on the ballot, he said.

Ribeiro said he is confident the anticasino group will collect enough signatures.

Repeal proponents want the court to overrule a decision by Attorney General Martha Coakley that the repeal petition is unconstitutional and should not appear on the ballot.

Coakley rejected the petition because the repeal would “impair the implied contracts” between the state gambling commission and casino license applicants and illegally take those contract rights without compensation, the attorney general has argued in court documents.

The gambling commission has already awarded one license, for a slot machine parlor, to a Penn National Gaming project in Plainville. During Monday’s arguments, Justice Robert Cordy cited the slot license in sharp questioning of Thomas O. Bean, the lawyer for those seeking a repeal vote.

“So a five-year exclusive license that has already been awarded after a thorough process outlined by the Legislature, at great cost to the applicant, can simply be taken away with a big never mind?” Cordy asked Bean.

“Yes,’’ Bean replied.

At another point, Cordy pressed Bean again.

“They can do this without compensation, without compensation for all of the investments that were made at the encouragement of the Legislature?” asked Cordy, who was legal counsel to former governor William Weld, a Republican, before joining the SJC. “They can do it without compensation?”

“That is correct,’’ Bean said.

“Wow!” Cordy replied.

Bean was insistent that the process used by the state gambling commission did not obligate taxpayers to compensate casino companies if the state shifts gears and bans, rather than welcomes, legalized gambling.

Moreover, Bean said that casino companies have known since the gambling law took effect three years ago that people were trying to repeal it. The companies decided to risk their own cash, and taxpayers should not be forced to compensate them for their actions, he said.

But Carl Valvo, the lawyer for casino gambling advocates, said that the law was designed to combat the “evils of unemployment’’ and the “evils of blighted communities’’ and that unilaterally changing the rules would require compensation to the casinos.

Justice Ralph Gants, who has been nominated by Governor Deval Patrick to become the next chief justice of the SJC, asked Valvo whether the state could be required to compensate casino companies for “billions of dollars’’ in lost profits?

“The Commonwealth would be subject to compensation for the taking of the license,’’ Valvo said.

Assistant Attorney General Peter Sacks told the court that taxpayers could be forced to repay some of the money spent by the industry, but only under limited circumstances.

Under questioning from the justices, Sacks said the gambling commission retains the power to reject all the applications and not issue casino licenses.

“But that doesn’t mean the procurement process can be just canceled in the middle after everyone has invested a substantial amount of money,” he said. Casino applicants, he said, have implied contracts with the state that entitle them to a decision on their applications, even if that decision is no.

While Cordy, for one, sounded skeptical that the repeal should be permitted to go forward, lawyers who frequently watch the court said it is hard to project how the justices will rule from the questions they ask at oral arguments.

Despite the possibility of repeal, the gambling commission continues working toward awarding the casino licenses it controls.

Two projects, Wynn Resorts in Everett and Mohegan Sun in Revere, are competing for the sole resort casino license in Greater Boston. The commission expects to choose the winner later this year.

TULSA, Okla. – Officials with the U.S. District Court in the Northern District of Oklahoma have rescheduled a May 9 hearing regarding United Keetoowah Band gaming operations within the Cherokee Nation’s jurisdiction to July 25.

CN Attorney General Todd Hembree said District Judge Gregory Frizzell’s office notified him, the UKB and the Department of Interior stating that the case was continued until July.

“No party filed a motion to continue, this was done on his (Frizzell) accord. I’m sure this was done because of his busy schedule,” Hembree said.

The case involves whether the UKB can legally operate a casino within the Nation’s jurisdictional area in northeast Oklahoma. For years, the UKB operated a casino on a 2-acre tract of land in Tahlequah, the capital city to both tribes, without a compact with the state government or oversight from the National Indian Gaming Commission.

The NIGC in 2000 ruled that the Keetoowah Cherokee Casino wasn’t on “Indian land” as defined in the Indian Gaming Regulatory Act. The land is owned in fee by the UKB and located at 2450 S. Muskogee Ave.

According to the IGRA, a tribe may only game on eligible lands within the limits of its jurisdiction held in trust by the United States.

Following the NIGC ruling, the UKB obtained an injunction from then-Cherokee County District Judge John Garrett that kept state law enforcement from imposing gaming law violations on the casino. Garrett later was named to the UKB Supreme Court and now serves on the CN Supreme Court.

In 2012, UKB and Oklahoma officials signed an agreement that required the UKB to pay at least $2 million to the state and obtain trust land for the casino by July 30, 2012, or face closure. Hours before the deadline to cease gaming, the UKB received word from the Interior that it would grant the casino land trust status.

Hembree filed an appeal on Sept. 7, 2012, in federal court against the Interior’s decision stating that the CN has “exclusive jurisdiction over” the 14 counties that make up its boundaries.

According to the UKB/state agreement, if the casino’s land was not in trust one year after the DOI decided to grant trust status, the UKB would cease gaming until the land was taken into trust and the NIGC permitted gaming on it.
The 10th Circuit Court of Appeals in Denver on Aug. 26, 2013, denied the UKB’s motion for a stay on an injunction that prevented the Interior from granting trust land for the casino. Without the stay, the UKB was forced to close the casino’s doors four days later as part of an agreement the UKB made with the state.

Before the casino closed, Principal Chief Bill John Baker offered the UKB two compromises that would allow the band to retain its casino operations and continue employing those working for both the UKB administration and casino.

The first was for the Interior to take the casino land into trust on behalf of the CN and for the CN to sign a 99-year lease agreement with UKB, with an automatic renewal clause, allowing the UKB to continue gaming operations. Through that agreement, the UKB would have retained the profits, maintained its employment base and gaming would not have ceased at its casino.

The second would have allowed the UKB to build a gaming facility on land the CN has in trust at the intersection of Highways 82 and 62, south of Tahlequah. Under that option, the Nation would have signed a 99-year renewable lease for the UKB to conduct a comparable gaming operation in size and number of machines on that land.

Neither offer was accepted by UKB officials.

Hembree said he and his office are still “very confident” in their position that the CN has sole jurisdiction of the 14-county area in which both tribes reside.

“Regarding whether the UKB can acquire land into trust within the exclusive jurisdiction of the Cherokee Nation,” he said, “the law and the historical facts are on our side and we have every reason to believe the Court will find in our favor.”

When contacted by the Cherokee Phoenix regarding comment on the postponement, UKB officials said they had no comment at that time.