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Republican Governors Group Benefitting Big From Wisconsin Casino Fight

Both sides have a pretty clear incentive: Authority over approving the casino lies solely with Gov. Scott Walker (R), who faces reelection this year and who sits on the RGAs executive committee. Walker has said approving the casino would require buy-in from the states 10 other Native American tribes. But the three tribes that currently operate casinos in Wisconsin the Potawatomi, the Ho-Chuck and the Oneida have withheld their support . The Potawatomi said the new casino would cost them about 40 percent of their revenue, while the Ho-Chuck claimed the Kenosha venue would cost their Madison-area casino $20 million annually.
For the original version including any supplementary images or video, visit http://www.washingtonpost.com/blogs/govbeat/wp/2014/02/05/republican-governors-group-benefitting-big-from-wisconsin-casino-fight/

Casino Stocks Hammered by Drop in Macau Revenues

Lucas said shes found a House member willing to carry the bill next year. Senate Bill 19, whichwould allow a casinoin the Hampton Roads area of the casino-free Commonwealth of Virginia, was approved by the Senates General Laws and Technology Committee on Monday. It was just the first step forward for the long-shot bill which you can read in its entirety here but it was a notable one, considering that similar gambling legislation was killed by the same committee in 2013. From the Virginian-Pilots story on Mondays vote: The same committee killed the effort last year, but it progressed on a 7-5 vote this time around, an outcome helped by Democrats reorganization of the committee when they seized power in the Senate last week. Lucas, a Democrat who represents Portsmouth, and several city officials cheered and hugged after the vote, but the celebration may be short-lived.
For the original version including any supplementary images or video, visit http://www.washingtonpost.com/blogs/local/wp/2014/02/04/long-shot-va-casino-bill-comes-up-aces-in-senate-committee-vote/

Casino operators drop as Macau revenues slide

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For the original version including any supplementary images or video, visit http://www.ft.com/cms/s/0/c20a1fba-8e86-11e3-b6f1-00144feab7de.html

Long-shot Va. casino bill comes up aces in Senate committee vote

Gambling revenue growth on the Chinese island of Macau fell to its lowest level in 15 months in January, rising just 7% to $3.6 billion. The drop is attributed to slowing economic growth in China, and the even worse news for casino operators is that high-rollers (called VIPs) who account for about two-thirds of Macaus revenues are also keeping their hands on their wallets. The impact of the report from Macaus gambling commission sent shares of Las Vegas Sands Inc.s (NYSE: LVS) Sands China Ltd. shares down 7.5% in Hong Kong trading. Thats the biggest one day drop since October 2011 according to a report at Bloomberg News.
For the original version including any supplementary images or video, visit http://www.marketwatch.com/story/casino-stocks-hammered-by-drop-in-macau-revenues-2014-02-05

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