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	<title>Casino information site</title>
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		<title>CWC upgrades software</title>
		<link>http://CASINOINFORMATIONSITE.COM/?p=9</link>
		<comments>http://CASINOINFORMATIONSITE.COM/?p=9#comments</comments>
		<pubDate>Sat, 24 Jul 2010 07:55:44 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[One of the veteran companies specializing in the provision of live dealer gambling over the internet, CasinoWebCam.com, has completed an extensive website redesign, adding new games, features and graphics to meet the needs and expectations of clients and players alike.
The redesign includes an updated look and feel, more customisation, added player options, improved usability, greater [...]]]></description>
			<content:encoded><![CDATA[<p>One of the veteran companies specializing in the provision of live dealer gambling over the internet, CasinoWebCam.com, has completed an extensive website redesign, adding new games, features and graphics to meet the needs and expectations of clients and players alike.</p>
<p>The redesign includes an updated look and feel, more customisation, added player options, improved usability, greater scalability and game upgrades. The management at CWC claims that these new features and benefits will result in more signups, higher conversion rates, increased revenue and better player loyalty for operators.</p>
<p>New features include custom video layouts with custom video resize and video zoom, a one-click Mini lobby that allows players to browse other games while seated at a table, customisable branding and table felts, a full screen mode, a dynamic Chat window, new games and more. In addition, games run from cache which means no load time after initialisation.</p>
<p>The new software platform also includes traditional computer generated RNG games including casino classics like blackjack and roulette, and poker games.</p>
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		<title>UIGEA enforcement mechanisms are flawed</title>
		<link>http://CASINOINFORMATIONSITE.COM/?p=8</link>
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		<pubDate>Sat, 24 Jul 2010 07:55:29 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Shelley Berkely, the feisty Nevada Democrat who supports properly regulated and controlled online gambling in the United States, came out strongly against the recently implemented Unlawful Internet Gambling Enforcement Act this week in a major feature article in the Washington DC political publication Roll Call.
Berklely says that Nevada is famous for its skill and experience [...]]]></description>
			<content:encoded><![CDATA[<p>Shelley Berkely, the feisty Nevada Democrat who supports properly regulated and controlled online gambling in the United States, came out strongly against the recently implemented Unlawful Internet Gambling Enforcement Act this week in a major feature article in the Washington DC political publication Roll Call.</p>
<p>Berklely says that Nevada is famous for its skill and experience in effective gambling regulations, and for keeping pace with technological and other dynamics impacting the gambling industry. The state is expert at turning these to best advantage to ensure that enforcement is effective, and that players are assured of getting a fair bet, the house is protected against cheating and money laundering and other crimes are controlled.</p>
<p>She points out however, that the current prohibitionary approach to Internet gambling in the United States has resulted in an environment where instead of being protected by regulations designed to prevent rip-offs, fraud and identity theft, Americans are being left vulnerable as a result of the moralistic UIGEA.</p>
<p>This failed legislation sought to pin a cyber tin star to the chest of the financial industry with the idea that these companies would become the new virtual sheriff in town and that together, they would prevent anyone under U.S. law from taking part in any illegal online gaming, Berkely writes.</p>
<p>In reality, countless Americans logged on to their computers June 1 the day the act took effect and placed bets over the Internet. In the time it takes to read this sentence, thousands of players from Alaska to Hawaii and across the rest of the U.S. will have participated in some form of online wagering. And these men and women will keep right on playing, knowing that the law doesnt even make clear what is illegal gambling and what is not when it comes to the Internet.</p>
<p>Berkely goes on to compare the bans on internet gambling financial transactions with American failed historical attempts to prohibit the consumption and trading of alcohol, saying that the law actually helps the bad guys instead of protecting Americans against criminals. </p>
<p>She asserts that prohibition as a policy is doomed to fail and its time to start over.</p>
<p>I firmly believe adults have the right to choose how they spend their leisure time and money, and that includes the ability to participate in Internet gaming from the privacy of their own homes and computers, Berkely continues. </p>
<p>That is why I vehemently opposed the UIGEA when it came before Congress and why I continue to support the efforts of House Financial Services Chairman Barney Frank (D-Mass.) and others to replace what would be better called the Unworkable Internet Gambling Enforcement Act.</p>
<p>Berkely points to what she refers to as the fatally flawed enforcement mechanism of the UIGEA, which places the burden of deciding which transactions are illegal on the shoulders of an inexperienced and overworked financial services industry. Exacerbating the situation is the fact that the Act is imprecise and does not clearly define what is regarded as an illegal gambling transaction something financial institutions have been cautioning the government on for some time.</p>
<p>And she stresses there was never a penalty intended against those placing the bet, only against the banks now tasked with policing customers to stop any and all cyberbets.</p>
<p>Berkely suggests that the way forward is to tap into the expertise developed by Nevadas world-class gaming regulators, and those in other states, which would enable the development of a new framework that would give adults the right to choose for themselves to visit a virtual casino or play in an online poker game with competitors drawn from around the planet. </p>
<p>Every day the U.S. fails to act, we are also missing out on new business opportunities that could flow to legally authorized American operators of regulated Internet gaming ventures, she warns.</p>
<p>In addition, technology has dramatically improved identity verification and enhanced other protections designed to prevent those who are underage from doing on the Internet what they could not do in person during a visit to any resort casino on the Las Vegas Strip, she adds.</p>
<p>Its time to let the UIGEA ride off into the sunset and to replace the virtual Wild, Wild West it has created with workable regulations designed to protect American adults in numbers that only continue to grow when they choose to place a bet over the Internet.</p>
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		<title>Penn National makes pitch for Fontainebleau Las Vegas</title>
		<link>http://CASINOINFORMATIONSITE.COM/?p=5</link>
		<comments>http://CASINOINFORMATIONSITE.COM/?p=5#comments</comments>
		<pubDate>Tue, 08 Dec 2009 19:10:42 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Penn National Gaming has emerged as the stalking horse bidder for the bankrupt Fontainebleau Las Vegas, but it is offering less than $300 million for the stalled Strip resort, which is valued at almost $3 billion.
Penn spokesman Joe Jaffoni confirmed Tuesday the company remained interested in the project, which was 70 percent complete when construction [...]]]></description>
			<content:encoded><![CDATA[<p>Penn National Gaming has emerged as the stalking horse bidder for the bankrupt Fontainebleau Las Vegas, but it is offering less than $300 million for the stalled Strip resort, which is valued at almost $3 billion.</p>
<p>Penn spokesman Joe Jaffoni confirmed Tuesday the company remained interested in the project, which was 70 percent complete when construction work was halted in April.</p>
<p>Cost overruns and the failing Las Vegas condominium market, which zapped potential sales, affected financing for Fontainebleau. After lenders cut off $800 million in financing, Fontainebleau owners filed Chapter 11 bankruptcy on the project in U.S. Bankruptcy Court in Miami.</p>
<p>&#8220;All we can say right now is the company is still looking at the Fontainebleau and is evaluating other Las Vegas opportunities,&#8221; Jaffoni said.</p>
<p>An attorney for Fontaine-bleau&#8217;s owners told the bankruptcy court that Wyomissing, Pa.-based Penn National is only willing to pay less than $300 million for the property, according to The Miami Herald. He said the project has already cost about $2 billion. Analysts have said it could take $1 billion to $2 billion more to complete.</p>
<p>Union Gaming Group principal Bill Lerner told investors Tuesday that it would take at least $1.5 billion to complete Fontainebleau, taking into account exterior work that remains, along with virtually all of the interior.</p>
<p>As a stalking horse bidder, Penn would set the minimum price for the 3,889-room hotel. Others could offer more.</p>
<p>&#8220;It never gets worse for us. It only been substantial and perhaps extraordinary,&#8221; Richard Mason, a New York lawyer representing Penn, told the Miami Herald. &#8220;There&#8217;s a lot of money left to spend, and I think anyone&#8217;s price would reflect that.&#8221;</p>
<p>In exchange for its stalking-horse position, Penn would finance the project&#8217;s bankruptcy expenses.</p>
<p>Lenders are pushing Judge A. Jay Cristol to shift the bankruptcy case from a Chapter 11 reorganization to a Chapter 7 liquidation through a court-ordered sale.</p>
<p>Lerner thought that Penn, if successful in acquiring Fontainebleau, would take on a partner to help complete the project. Penn, he said, would operate the Fontainebleau.</p>
<p>&#8220;Penn would have the management contract for Fontainebleau, perhaps along with fees for lending its database and programming to the property,&#8221; Lerner told investors. &#8220;In such a structure, Penn can offer Las Vegas to its player database with relatively minimal capital risk yet a favorable return on investment capital.&#8221;</p>
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		<title>Online Vegas Casino started Halloween slots Tournament</title>
		<link>http://CASINOINFORMATIONSITE.COM/?p=4</link>
		<comments>http://CASINOINFORMATIONSITE.COM/?p=4#comments</comments>
		<pubDate>Tue, 08 Dec 2009 19:07:11 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[Online Slot Tournament giants Online Vegas Casino and Golden Online Casino are celebrating Halloween with two new Slot Tournaments.
The first Tournament is called Fearfully Fun Fright Night Freeroll $2,666 Guaranteed. As the title says, it is a freeroll (absolutely no entrance fee) but you will need to have a real money account to play (no [...]]]></description>
			<content:encoded><![CDATA[<p>Online Slot Tournament giants Online Vegas Casino and Golden Online Casino are celebrating Halloween with two new Slot Tournaments.</p>
<p>The first Tournament is called Fearfully Fun Fright Night Freeroll $2,666 Guaranteed. As the title says, it is a freeroll (absolutely no entrance fee) but you will need to have a real money account to play (no deposit necessary). This one day Tournament starts on October 30th at 10am (ET) and ends one minute before midnight. this tournament will be played on the Black Magic slot machine game, which is rather appropriate for the ghoulish festivities. First Place prize is $666 and there are prizes all the way to 200th Place. If you should play your balance to zero that doesn&#8217;t mean you&#8217;re out of the Tournament; you can re-load for a low fee of $1.99.</p>
<p>The second Tournament is titled Halloween Weekend Madness $66,666 Guaranteed. This Tournament starts on October 30th at 8PM (ET) and runs until Tuesday November 10th, 2009. The Tournament is a continuation of their weekend madness series which have been very popular. They have upped the Guaranteed Prize Pool to $66,666 for Halloween weekend. The entry fee of $13.13 gives you a shot at the huge $16,666 1st Place prize and there are payouts all the way to 500th Place. Appropriately, the chosen game for this tournament is Monster Money which is one of Golden Casino&#8217;s newer games, and features a Guaranteed Bonus Round to pick 5 doors in a haunted castle. If you get really lucky, one door has All Prizes Tripled, which could add up to a pretty huge Bonus Round.</p>
<p>In addition to the above to Halloween tournaments, the casinos will be celebrating Columbus Day with the Columbus Day Free Entry $20K Guaranteed.</p>
<p>As the title says, it is a free to enter Tournament, all you need to do is set up a real money account (no deposit necessary). The Columbus Day Slot Tournament will start on October 12th at 10AM (ET) and runs until October 16th, 2009. 1st Place prize for this Tournament is $5,550 and there are prizes paid out all the way to 500th Place. The featured game for the Tournament is X Marks the Spot, which is a fun pirate themed Slot Machine. When you hit the bonus round, you get to select buried treasure to reveal your prize.</p>
<p>Slots tournaments have proven to be immensely popular and with having taken place this month these tournaments are sure to thrill players in the United States and wherever else in the world Halloween is celebrated.</p>
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		<title>CityCenter condo prices cut 30 percent</title>
		<link>http://CASINOINFORMATIONSITE.COM/?p=3</link>
		<comments>http://CASINOINFORMATIONSITE.COM/?p=3#comments</comments>
		<pubDate>Tue, 08 Dec 2009 19:06:27 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[News]]></category>

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		<description><![CDATA[A much awaited 30 percent price reduction in CityCenter&#8217;s luxury condominium offerings was announced Monday by developers of the $8.5 billion project. 
The move comes as potential buyers of the 2,400 condominium units at three of CityCenter&#8217;s projects threatened possible lawsuits against developers MGM Mirage and Dubai World. Prices that purchasers agreed upon a few [...]]]></description>
			<content:encoded><![CDATA[<p>A much awaited 30 percent price reduction in CityCenter&#8217;s luxury condominium offerings was announced Monday by developers of the $8.5 billion project. </p>
<p>The move comes as potential buyers of the 2,400 condominium units at three of CityCenter&#8217;s projects threatened possible lawsuits against developers MGM Mirage and Dubai World. Prices that purchasers agreed upon a few years ago no longer reflect the current market, where sales of high-rise condominiums in Las Vegas have been on life-support. </p>
<p>The price reductions cover The Residences at Mandarin Oriental, Veer Towers and Vdara Condo Hotel. </p>
<p>&#8220;We believe that in this economic climate this price reduction is an appropriate step to take on behalf of our buyers so as to provide them greater flexibility in closing on their residences,&#8221; said MGM Mirage chief design and construction officer Bobby Baldwin, who serves as the president and chief executive officer of CityCenter. </p>
<p>MGM Mirage Chairman and Chief Executive Officer Jim Murren hinted at a potential price reduction in interviews over the summer. </p>
<p>In quarterly financial statements, MGM Mirage said it expected earning $2.6 billion from condominium sales at CityCenter. The price reduction could lower that figure by some $780 million. MGM Mirage has already collected more than $300 million in deposits from CityCenter&#8217;s condominium buyers. </p>
<p>About half of CityCenter&#8217;s residential offerings are under contract with potential buyers who agreed to purchase prices from $500,000 for studio-sized units up to $9 million for the penthouse suites atop Mandarin Oriental. </p>
<p>Buyers were required to put down 20 percent of costs and, under Nevada law, could lose up to 75 percent of their down payments if they couldn&#8217;t close the transactions. </p>
<p>Tony Dennis, executive vice president of the CityCenter Residential Division, said closings are scheduled to begin in January with buyers of the 227 units at Mandarin Oriental. Veer Towers, which has 670 units, are projected to begin closing in February. The 1,500-unit Vdara is expected to start closing sales in March. </p>
<p>Dennis said one-on-one meetings with buyers were being scheduled. </p>
<p>Real estate analysts said a 30 percent reduction might be enough of a break to jump-start sales. </p>
<p>CB Richard Ellis Senior Vice President John Knott said CityCenter&#8217;s condominium reservations began at the peak of the high-rise market. He said MGM Mirage realized prices would have to be dropped if any closings were to take place. </p>
<p>&#8220;Given what is being delivered to the market, if someone is getting a $1 million condominium for $700,000, I think they will be happy,&#8221; Knott said. &#8220;Over time, that value is going to come back. It&#8217;s a challenging market right now.&#8221; </p>
<p>MGM Mirage spokesman Alan Feldman said the price reductions cover all CityCenter condominium purchasers, including current and former MGM Mirage employees who participated in the early &#8220;friends and family&#8221; sales of the condominiums. </p>
<p>Union Gaming Group issued a report in August showing that high-rise condominium closings in Las Vegas were taking place at a rate of two units per month. The gaming analysis and research firm concluded MGM Mirage would have to cut the prices at CityCenter based on market conditions. </p>
<p>&#8220;As one might expect, our findings would certainly indicate a market that is anemic at best,&#8221; Union Gaming Group principal Bill Lerner said at the time. He said a 30 percent price cut would help sales. </p>
<p>&#8220;The company will likely have some success at this magnitude relative to the consensus expectation of not creating any value from residential,&#8221; Lerner said. </p>
<p>CityCenter will begin opening in phases starting Dec. 1 with Vdara, which is a nongaming hotel and condominium tower. The nongaming Mandarin Oriental, which has almost 400 hotel rooms, will open on Dec. 4. Aria, CityCenter&#8217;s 4,004-room hotel-casino centerpiece development, will open Dec. 16.</p>
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