AP – Caesars Entertainment Corp. is selling four properties to a separate unit that it controls for about $1.8 billion as it restructures its debt. The sale of Bally’s Las Vegas and the other three properties is valued by the company at about $2.2 billion, when debt and renovations at the Quad Resort & Casino are included. The other assets include Harrah’s New Orleans, and The Cromwell, which will open later this year and was formerly known as Bill’s Gamblin’ Hall & Saloon. Caesars Acquisition Co. expects the deal to close in the second quarter. Caesars Entertainment will manage the…

Cincinnati.com – Churchill Downs executives say they remain “heavily engaged” in the pursuit of casino gambling in Kentucky. In a conference call Thursday with stock analysts about the Louisville-based racetrack and casino company’s 2013 fourth-quarter and full-year earnings, Churchill Downs Inc. Chief Operating Officer Bill Carstanjen said that it’s “getting to crunch time of the session. We have some cause to be optimistic, but our issues are wrapped up in other issues that can affect us that are hard to predict.” Representatives of Kentucky thoroughbred tracks and racing commission member Frank Jones met with state House Speaker Pro Tem Larry…

The Tribal Internet Gaming Alliance (TIGA), an alliance of Indian Tribes working collectively to bring Internet gaming to Indian Country within the framework of the Indian Gaming Regulatory Act (IGRA) and other state and federal laws, has received a letter of recognition and support from the Government of the Isle of Man, a leader in the iGaming industry. The letter, which was written by Peter Greenhill, can be viewed here. It states in part: “The Isle of Man (we) are pleased to recognize the treaty organization that is known as the Tribal Internet Gaming Alliance (TIGA). We recognize TIGA’s mission…

Bloomberg – Macau casino revenue climbed 40 percent to a record in February, beating estimates, after a jump in mainland Chinese visitors to the world’s largest gambling hub during the Chinese New Year. Casino revenue in the Chinese city rose to 38 billion patacas ($4.8 billion), exceeding the 36 billion patacas median of seven analyst estimates in a Bloomberg News survey. The previous record was 36.5 billion patacas in October last year. Casino operators such as Sands China Ltd. (1928) and Galaxy Entertainment Group Ltd. (27) have been adding shopping malls, entertainment shows and hotel rooms to draw mainland tourists…

iGaming Business – Gamblers in the UK will be able to set limits on the amount of time and money they spend on fixed odds betting terminals (FOBTs) under a new code of conduct developed by the Association of British Bookmakers (ABB). According to the Guardian newspaper, the new code will enable customers to set their own limits in the time and money they spend on a machine, while staff will be alerted when limits have been reached. Mandatory alerts will appear on the machines when a customer has spent £250 on a machine or played for more 30 minutes….

Business Week – In the 1990s, Macau’s gambling riches sparked bloody gunfights between triad gangsters vying for control of private gaming rooms for China’s wealthy. Today, there’s a new conflict brewing, only this time it’s being waged with private jets, limousines, and million-dollar loans. This latest battle pits casinos against their longtime allies, so-called junket operators that for years have recruited rich gamblers in China, whisked them to Macau, put them up in luxury hotels, and extended interest-free loans to circumvent limits on cash they can take out of the mainland. In the early years after China allowed foreign gaming…

Las Vegas Sun – When Springfield, Mass., needed to choose who would build its first casino, the city hired an outside adviser to help with the process. The consulting firm Shefsky & Froelich recommended the deal go to MGM Resorts International. At the same time, the consulting firm also was working as a registered lobbyist in Illinois for MGM Resorts. The arrangement highlights an often-overlooked trend as more cities and states embrace legalized gambling around the country: Private companies are being hired to write regulations and vet casinos, even as the same firms work the other side of the fence,…

iGaming Business – The Premier Lotteries consortium has completed the purchase of the licence to run the Irish National Lottery in a deal worth a reported €405 million ($558.9 million). According to the Irish Times newspaper, the consortium involves An Post, a state-owned provider of postal services in Ireland, and Ontario Teachers’ Pension Plan, the owner of UK National Lottery operator Camelot. The incoming operator will now begin a transition process, which will see it take control of the franchise in 12 months’ time. As reported by iGaming Business in October 2013, Premier Lotteries had been named as the preferred…