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November NUTSHELL

Harrah's Entertainment announced major plans for its Grand Casino Resort Tunica in Mississippi.

<p class=MsoNormal style=MARGIN: 0in 0in 0pt; tab-stops: 13.5pt>    <span style=FONT-SIZE: 14pt>        <span style=FONT-SIZE: 14pt; COLOR: black>Harrah’s Entertainment announced major plans for its Grand Casino Resort Tunica in Mississippi. In addition to a $45 million renovation of the property, Harrah’s will change the name to <b style=mso-bidi-font-weight: normal>Harrah’s Casino Tunica</b>, and add celebrity chef Paula Deen’s name to a new, 560-seat buffet on the second floor of the property. The new buffet is scheduled to open in May 2008, the same time the Harrah’s will unveil the re-branded casino. “This $45 million investment at our largest property in Tunica, the third largest gaming market in the United States, is further proof that Harrah’s Entertainment is committed to continue to enhance our network of branded properties around the world,” said John Payne, central division president, Harrah’s Entertainment. The Paula Deen buffet will start the transformation of the second floor of the property into an entertainment promenade, with three retail outlets and three restaurants. As part of the overhaul of the property, Harrah’s will add new beds, carpeting and furniture to its existing rooms. The room makeovers are scheduled to finish in May. A second hotel tower currently under construction will open in September.             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>The <b style=mso-bidi-font-weight: normal>Elixir Group</b> has secured contracts for 500 and 200 machines to be placed in two locations in Manila. That brings to 2,894 the number of electronic gaming machines to be placed on long-term, participation basis across fourteen venues throughout Asia, including 1,764 in the Philippines. </span>Together with another 200 machines to be placed at the Macau Club in Phnom Phen, Cambodia, Elixir         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>now has agreements to place 3,294 electronic gaming machines on a long-term participation basis.         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>        <span style=FONT-SIZE: 14pt; COLOR: black>•             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>The demise of gaming monopolies in E.U. countries could mean a 23 percent increase in the European gaming market, to $117 billion, according to a report by U.K.-based <b style=mso-bidi-font-weight: normal>Global Betting &amp; Gaming Consultants</b>. The head of the European Commission, Charlie McCreevy, is said to be committed to breaking up gambling monopolies within E.U. members.             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span></span>Plans for first-ever Kansas casinos lend urgency to the Missouri Gaming Commission’s latest of many repeated recommendations that the <b style=mso-bidi-font-weight: normal>Missouri</b> legislature abolish the $500 loss limit on two-hour gambling sessions at state casinos, says commission chief Gene McNary. Kansans account for 35 percent of Kansas City, Missouri, gamblers, and they will play near home to avoid the inconvenient limit, he says. He expects the latest repeal recommendation to fail in the 2008 legislature because that’s an election year.         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>        <span style=FONT-SIZE: 14pt; COLOR: black>Ralph W. Sturges, the most influential man in the recent history of the <b style=mso-bidi-font-weight: normal>Mohegan</b> tribe, passed away last month at the age of 88. Sturges led the tribe through the federal recognition process, and later through the development of the Mohegan Sun, one of the largest casinos in the U.S. “We will miss his leadership, and his passing leaves a void not easily filled,” said Bruce “Two Dogs” Bozsum, chairman of the tribe.             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span><b style=mso-bidi-font-weight: normal>Churchill Downs Inc</b>. celebrated the opening of a temporary slot facility at its Fair Grounds Race Course in New Orleans last month. The facility brings almost 250 machines to the track. The opening comes after a more than 10-year struggle to bring the machines to the track. Track President Randy Soth said company officials were pleased with the initial business, and announced that a permanent facility with up to 700 machines will open late next year. Track officials do not have revenue projections at this time. </span>        <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160;&#160;</span>         <span style=FONT-SIZE: 14pt; COLOR: black>• </span>        <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160;</span>Nassau County Executive Thomas Suozzi told a hearing of the New York Senate’s Committee on Racing, Gaming and Wagering that he and other area politicians support slot machines at the <b style=mso-bidi-font-weight: normal>Belmont Park</b> racetrack on Long Island if nearby communities share revenues. Governor Eliot Spitzer favors slots at New York City’s Aqueduct track and is open to a Belmont Park racino, but needs the state legislature’s concurrence to open them under operating agreements that may be completed within the next few weeks. Assembly Speaker Sheldon Silver, who represents a New York City district, has said he opposes Belmont slots.         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span><tt><b style=mso-bidi-font-weight: normal>                <span style=FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman; mso-bidi-font-family: ‘Times New Roman’; mso-ansi-font-size: 14.0pt>Centaur Inc</span></b></tt><tt>             <span style=FONT-FAMILY: Times New Roman></span>            <span style=FONT-SIZE: 14pt; FONT-FAMILY: Palatino; mso-bidi-font-family: ‘Times New Roman’; mso-ansi-font-size: 14.0pt>                <span style=FONT-FAMILY: Times New Roman>., based in Indiana, has been granted Pennsylvania’s final harness racing license, to build a track at Bedford Downs in Mahoning Township. Construction will be done in phases, with the first phase to begin next summer. Reports are that a temporary casino will be built first The racino complex is expected to open in July of 2009. Development of acreage adjacent to the complex is expected to include dining, a hotel, and a water park and retail stores. </span>                <span style=FONT-SIZE: 14pt; mso-spacerun: yes>                    <span style=FONT-FAMILY: Times New Roman>&#160;</span> </span>•                 <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span></span></tt>        <span style=FONT-SIZE: 14pt; COLOR: black>Oklahoma’s oldest racing facility and first pari-mutuel racetrack, <b style=mso-bidi-font-weight: normal>Blue Ribbon Downs</b>, is for sale, according to the Choctaw Nation, which bought the racetrack four years ago. The asking price for the racetrack was not disclosed, although a spokesman for the Choctaws said that the price was negotiable. The spokesman discounted rumors that the racetrack was about to be closed and that employees were going to be laid off. The racetrack is not located on reservation territory.             <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span></span>• <b style=mso-bidi-font-weight: normal>Las Vegas Sands</b> is reportedly seeking a record S5 billion loan ($3.3 billion) to fund construction of its first Singapore casino project. Unidentified sources say the eight banks involved in arranging the loan are Goldman, Morgan Stanley, Merrill Lynch, Lehman, Citigroup, and local institutions DBS, Oversea-Chinese Banking and United Overseas Bank.         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>•         <span style=FONT-SIZE: 14pt; mso-spacerun: yes>&#160; </span>        <span style=FONT-SIZE: 14pt; COLOR: black>The <b style=mso-bidi-font-weight: normal>Broadwater Casino</b> development in Biloxi, Mississippi, could be back on the table with developers saying they’ve got a potential partner lined up. Michael Cox, representing the property’s owners, told the Biloxi Planning Commission last month that the owners expect to sign an agreement with an international entertainment corporation to develop the entire property. The Planning Commission approved an 18-month extension of preliminary site plans, which call for a 261-acre development consisting of two casinos, condotels, entertainment venues, a golf course and homes. The project is expected to cost $1 billion.</span></span></p>

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