Interesting article on the medical breakthroughs happening with aging. Perhaps today's older bingo players can keep playing for decades or more.
NEW YORK — Is 90 the new 50?
Not yet, aging researchers say, but medical breakthroughs to significantly extend life and ease the ailments of getting older are closer than many people think.
Harvard Medical School professor who has made headlines with research into the health benefits of a substance found in red wine called resveratrol.
Speaking on a panel of aging experts, Sinclair had the boldest predictions. He said scientists can greatly increase longevity and improve health in lab animals like mice, and that drugs to benefit people are on the way.
"It's not an if, but a when," said Sinclair, who co-founded Sirtris Pharmaceuticals to pursue such drugs. The company, which is testing medicine in people with Type 2 diabetes, was recently bought for $720 million by GlaxoSmithKline, the world's second-largest drug maker.
Sinclair said treatments could be a few years or a decade away, but they're "really close. It's not something (from) science fiction and it's not something for the next generation."
For the full story, please see David Ho, Expect new drugs to treat aging, researchers say, EveningEdge.com, June 3, 2008.
Sunday, June 8, 2008
Friday, June 6, 2008
While Bingos Slip, Some Casinos Doing Well
SAULT STE. MARIE, MI - Despite major increases in transportation costs for consumers, a struggling Michigan economy, and reports of casinos in other market segments of Michigan struggling, Kewadin Casinos posted increases in gaming revenue during the month of May.
Net slot revenue at all five casinos combined, finished up $909,138 or 11.4 percent for the month.
The Kewadin Casino in Sault Ste. Marie saw the largest increase with revenue 20.4 percent higher compared to the same month last year.
For more information, please see Kewadin announces robust revenue gains for May, SooToday.com, June 3, 2008.
Net slot revenue at all five casinos combined, finished up $909,138 or 11.4 percent for the month.
The Kewadin Casino in Sault Ste. Marie saw the largest increase with revenue 20.4 percent higher compared to the same month last year.
For more information, please see Kewadin announces robust revenue gains for May, SooToday.com, June 3, 2008.
Thursday, June 5, 2008
More on the Greektown Casino.
DETROIT -- Lawyers for the financially troubled Greektown Casino asked a federal bankruptcy judge Tuesday to approve a $44.9 million emergency loan that will keep the gambling hall's construction of an expanded gaming floor and 400-room resort-style hotel from grinding to a halt.
Greektown pleaded its case during a hearing before U.S. District Court Bankruptcy Judge Walter Shapero. Casino lawyers described an especially tenuous relationship with more than 80 contractors and subcontractors over the past few months as the gaming hall fell behind on payments for materials and labor on the casino-hotel project.
Greektown, already with $314.5 million in outstanding loans, is seeking a total of $150 million in bankruptcy financing, which includes the emergency $44.9 million, from Merrill Lynch bank. The other part of the financing will come before the court at a later date.
For more information, please see Nathan Hurst, Greektown seeks $44.9M loan to keep casino-hotel project from shutting down, The Detroit News, June 3, 2008.
Greektown pleaded its case during a hearing before U.S. District Court Bankruptcy Judge Walter Shapero. Casino lawyers described an especially tenuous relationship with more than 80 contractors and subcontractors over the past few months as the gaming hall fell behind on payments for materials and labor on the casino-hotel project.
Greektown, already with $314.5 million in outstanding loans, is seeking a total of $150 million in bankruptcy financing, which includes the emergency $44.9 million, from Merrill Lynch bank. The other part of the financing will come before the court at a later date.
For more information, please see Nathan Hurst, Greektown seeks $44.9M loan to keep casino-hotel project from shutting down, The Detroit News, June 3, 2008.
Wednesday, June 4, 2008
Beyond Bingo Supplies: How to Manage a Successful Bingo Part 5
This is our fifth and final entry on managing a successful Bingo. So far, we've:
1. Determined your bingo licensing regulations for your state.
2. Estimated your bingo player attendance.
3. Built your bingo program.
4. Determined your prize payout.
5. Determined the revenue generating bingo products your going to sell.
Now, let's go over some final considerations for your next bingo fundraiser.
Bingo Callers
If at all possible, find an experienced bingo caller. You don't want some novice person calling bingo who has trouble handling the equipment (dropping bingo balls in the middle of a game can be a disaster) or lacks confidence in front of people. If you can't find an experienced caller, then find someone who is comfortable with crowds and have them practice with the equipment ahead of time. Go over your bingo program step-by-step.
Whether experienced or not, you want your bingo callers to call numbers at a regular pace. We recommend that bingo numbers be called about every 20 seconds for commercial bingo hall environments where seasoned bingo players play. However, this speed should be adjusted to fit your crowd and the number of bingo faces in play. Hopefully, your bingo equipment will have a timer which will alert your caller when to call. However, if no timer is available, use a watch or clock as best you can to call at a regular pace.
Cash vs Baskets or Other Prizes
It doesn't make a lot of difference if you give away cash or prizes or a mixture of both at your bingo fundraiser. The important thing is to make sure that whatever you give, you are giving something with value.
Make your bingo prizes worth the effort for your bingo players. If you give bingo baskets, fill them with quality products. If you give cash, make sure you give away some big jackpots. When your bingo players win a bingo, they want win something and they want to win something good.
Bingo Concessions
Your bingo event will usually last from 3-5 hours, with the actual bingo program taking about 3 hours to play. Therefore, it is important to have refreshments and food available if possible. Bingo players are not robots. They will get hungry and thirsty.
Make sure that the food you serve is good quality and keep your prices reasonable. We believe it's smart business to have your bingo concession be a draw for your bingo event and not a profit center. Let your bingo games make the money while your concession keeps them well-nourished and happy.
A bingo fundraiser requires planning. You'll need to assemble a team of volunteers, find a qualified bingo caller, acquire prize donations, locate a site, advertise, and more. Make sure you give yourself at least a month or two to prepare.
Good luck and happy fundraising! If you follow our advice, we're sure your next bingo fundraiser will be a success.
1. Determined your bingo licensing regulations for your state.
2. Estimated your bingo player attendance.
3. Built your bingo program.
4. Determined your prize payout.
5. Determined the revenue generating bingo products your going to sell.
Now, let's go over some final considerations for your next bingo fundraiser.
Bingo Callers
If at all possible, find an experienced bingo caller. You don't want some novice person calling bingo who has trouble handling the equipment (dropping bingo balls in the middle of a game can be a disaster) or lacks confidence in front of people. If you can't find an experienced caller, then find someone who is comfortable with crowds and have them practice with the equipment ahead of time. Go over your bingo program step-by-step.
Whether experienced or not, you want your bingo callers to call numbers at a regular pace. We recommend that bingo numbers be called about every 20 seconds for commercial bingo hall environments where seasoned bingo players play. However, this speed should be adjusted to fit your crowd and the number of bingo faces in play. Hopefully, your bingo equipment will have a timer which will alert your caller when to call. However, if no timer is available, use a watch or clock as best you can to call at a regular pace.
Cash vs Baskets or Other Prizes
It doesn't make a lot of difference if you give away cash or prizes or a mixture of both at your bingo fundraiser. The important thing is to make sure that whatever you give, you are giving something with value.
Make your bingo prizes worth the effort for your bingo players. If you give bingo baskets, fill them with quality products. If you give cash, make sure you give away some big jackpots. When your bingo players win a bingo, they want win something and they want to win something good.
Bingo Concessions
Your bingo event will usually last from 3-5 hours, with the actual bingo program taking about 3 hours to play. Therefore, it is important to have refreshments and food available if possible. Bingo players are not robots. They will get hungry and thirsty.
Make sure that the food you serve is good quality and keep your prices reasonable. We believe it's smart business to have your bingo concession be a draw for your bingo event and not a profit center. Let your bingo games make the money while your concession keeps them well-nourished and happy.
A bingo fundraiser requires planning. You'll need to assemble a team of volunteers, find a qualified bingo caller, acquire prize donations, locate a site, advertise, and more. Make sure you give yourself at least a month or two to prepare.
Good luck and happy fundraising! If you follow our advice, we're sure your next bingo fundraiser will be a success.
Tuesday, June 3, 2008
More Explanation on Greektown's Bankruptcy Filing
SAULT STE. MARIE - Chairman Aaron Payment of the Sault Tribe of Chippewa Indians provided reaction to the news Friday that Greektown Casino has filed for Chapter 11 bankruptcy.
“We have filed for Chapter 11 to protect our assets from the unfair convenants placed upon Greektown Casino by the Michigan Gaming Board, a standard that the other two casinos in Detroit do not have to follow,” wrote Payment in a press release.
Payment indicated he attempted to shore up deficiencies in management and slowing revenues more than a year ago, but the Greektown Management Board ignored his advice and replaced him as the chairman of the board.
The problem, as Payment explained it, stems from the Greek partnership and a $268 million liability which came with the partners under terms of the agreement hammered out under the watch of former Tribal Chairman Bernard Bouschor. Payment also indicated that he opposed the original agreement at the time and advocated buying out the Greek partners, to no avail.
For more information, please see Scott Brand, Payment explains Chapter 11 sooeveningnews.com, June 3, 2008.
“We have filed for Chapter 11 to protect our assets from the unfair convenants placed upon Greektown Casino by the Michigan Gaming Board, a standard that the other two casinos in Detroit do not have to follow,” wrote Payment in a press release.
Payment indicated he attempted to shore up deficiencies in management and slowing revenues more than a year ago, but the Greektown Management Board ignored his advice and replaced him as the chairman of the board.
The problem, as Payment explained it, stems from the Greek partnership and a $268 million liability which came with the partners under terms of the agreement hammered out under the watch of former Tribal Chairman Bernard Bouschor. Payment also indicated that he opposed the original agreement at the time and advocated buying out the Greek partners, to no avail.
For more information, please see Scott Brand, Payment explains Chapter 11 sooeveningnews.com, June 3, 2008.
Monday, June 2, 2008
Bingo and Gaming Industry Fear a Slow Summer
As the busiest part of the gaming season begins, recent revenue reports have some concerned the economic downturn may affect the industry.
"The summer is going to be a snapshot of what we're going to be looking at for the next few quarters," said Larry Gregory, executive director of the Mississippi Gaming Commission.
April marked only the second time since December 2006 that the state's Gulf Coast casinos earned less than $100 million.
Revenue was $97.1 million in April, a 9.4 percent drop from $107.2 million a year earlier, according to the Mississippi Tax Commission.
April is typically a slow month for casinos since children are still in school and families aren't yet able to travel, Gregory said.
Revenue at the state's casinos through April was $949.1 million compared to $999.9 million a year earlier.
"Clearly, the downturn in the economy is indicative of those numbers. Mississippi is a driving market from the Florida Panhandle and Louisiana. The dollar has tightened. Where (people) cut is the entertainment dollar," Gregory said.
For the full story, please see Jeff Ayres, Declining revenue for gaming industry triggers fears of slow summer season, Clarionledger.com, June 1, 2008.
"The summer is going to be a snapshot of what we're going to be looking at for the next few quarters," said Larry Gregory, executive director of the Mississippi Gaming Commission.
April marked only the second time since December 2006 that the state's Gulf Coast casinos earned less than $100 million.
Revenue was $97.1 million in April, a 9.4 percent drop from $107.2 million a year earlier, according to the Mississippi Tax Commission.
April is typically a slow month for casinos since children are still in school and families aren't yet able to travel, Gregory said.
Revenue at the state's casinos through April was $949.1 million compared to $999.9 million a year earlier.
"Clearly, the downturn in the economy is indicative of those numbers. Mississippi is a driving market from the Florida Panhandle and Louisiana. The dollar has tightened. Where (people) cut is the entertainment dollar," Gregory said.
For the full story, please see Jeff Ayres, Declining revenue for gaming industry triggers fears of slow summer season, Clarionledger.com, June 1, 2008.
Sunday, June 1, 2008
Greektown Casino Files for Chapter 11 Protection
Greektown Casino has asked a federal court for approval to reorganize its finances and continue business operations under the protection of Chapter 11 of the U.S. Bankruptcy Code, the Sault Ste. Marie Tribe of Chippewa Indians announced today.
We are not closing, we are not bankrupt,” said spokesman Roger Martin. "We are a profitable company with a liquidity issue."
Greektown Holdings L.L.C., along with seven other related entities, filed Chapter 11 bankruptcy petitions with U.S. Bankruptcy Court in Detroit Thursday, saying it is unable to borrow more money and has hit massive cost overruns as it attempted to expand its Detroit casino.
“Significant delays and cost overruns in connection with the completion of the expanded complex have adversely affected Holdings’ businesses, Greektown Casino’s operations and Holdings’ financial condition and cash flow,” Greektown said in its bankruptcy filing.
Greektown said it estimates that it needs approximately $140 million of additional borrowings or equity contributions to complete the expansion.
For the complete story, please see Margarita Bauza, Greektown Casino falls into Chapter 11, Detroit Free Press, May 30, 2008.
We are not closing, we are not bankrupt,” said spokesman Roger Martin. "We are a profitable company with a liquidity issue."
Greektown Holdings L.L.C., along with seven other related entities, filed Chapter 11 bankruptcy petitions with U.S. Bankruptcy Court in Detroit Thursday, saying it is unable to borrow more money and has hit massive cost overruns as it attempted to expand its Detroit casino.
“Significant delays and cost overruns in connection with the completion of the expanded complex have adversely affected Holdings’ businesses, Greektown Casino’s operations and Holdings’ financial condition and cash flow,” Greektown said in its bankruptcy filing.
Greektown said it estimates that it needs approximately $140 million of additional borrowings or equity contributions to complete the expansion.
For the complete story, please see Margarita Bauza, Greektown Casino falls into Chapter 11, Detroit Free Press, May 30, 2008.
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