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Inside Gaming Column: Operators Perhaps Thinking Ill of Illinois15 March 2004Major gaming operators here, except Harrah's Entertainment, are saying the 10th gaming license in Illinois is losing its luster. They doubt the license will really be the last as promised. Actually, prospects for a casino in Chicago are good, thanks to Mayor Richard Daley. And state legislators are said to be eyeing yet another tax increase on gaming operators, over the top incremental rate of 70 percent. Harrah's, however, is one of the finalists and is expected to be the winning bidder when the announcement is made Monday. *** Welfare for lawyers. By our estimate, the problem-plagued sale of Binion's Horseshoe to MTR Gaming Group and Harrah's Entertainment may have been the best deal attorneys in Las Vegas have had in some time. A gaggle of about 25 attorneys showed up at last week's hearing on a probate bid for the so-called Parry parcel under the landmark property, and at meetings of regulators on the gaming license bids. That seems to add up to maybe $50,000 in legal fees, just for one week's work. You can only guess how much it may cost in the end. *** Gone, but not forgotten. Harrah's Entertainment may be taking over Binion's Horseshoe, but the Binion family won't be forgotten. Despite their problems, they're being immortalized at the $10 million museum taking shape in the old federal building. It seems appropriate since its courtroom was the scene of the U.S. Senate hearings into the industry's ties to organized crime. Mayor Oscar Goodman, who dreamed it up as a Mafia museum, expects Benny Binion to be a central part of the exhibits. Note: Goodman has started calling it a "cops and robbers museum." *** Sleeping giant. Riviera Holdings Corp., best known for its aging hotel-casino at the Strip's north end, is shaking up the Midwest. It has submitted bids to build a major casino and entertainment complex in Missouri for $170 million. The Riviera's project would be developed on an old quarry site, 25 miles south of St. Louis. A Missouri Gaming Commission source says there's room in the market for another casino, and that the Riviera has the edge over Harrah's Entertainment and Pinnacle Entertainment, which are also targeting St. Louis. *** You know you're in trouble when online oddsmakers start posting odds on how much jail time you're likely to do. Although Martha Stewart has sworn to appeal her conviction on charges of obstructing justice and lying to the government, BetCBSports has been offering even odds she'll be sentenced to six months in prison and 2-to-1 odds she'll do up to a year. If you want to go out on a limb, you could place bets at 100-to-1 she'll do 10 years or more. The Inside Gaming column is compiled by Gaming Wire Editor Rod Smith. You can contact him by phone at (702) 477-3893, fax (702) 387-5243 or e-mail at rsmith@reviewjournal.com Copyright GamingWire. All rights reserved. |