Archive for February, 2007

Harrah’s to Expand its Atlantic City Casino

Harrah’s Entertainment Inc. revealed Wednesday that it will unveil the first phase of a $550 million expansion of its Harrah’s Atlantic City casino on Feb. 18.

The initial stage includes a new 620-seat buffet, a retail promenade and the conversion of an existing buffet into space for 400 slot machines, 10 table games and a player’s lounge.

Future stages of the expansion call for an 86,000 gallon heated pool and a 961-room, 44-story hotel tower, slated to be Atlantic City’s tallest hotel casino and New Jersey’s second tallest building. Harrah’s plans to complete the new tower in the middle of next year, increasing its hotel capacity by almost 60 percent.

Shares rose 5 cents to close at $84.89 on the New York Stock Exchange.

California Releases Study on Problem Gambling

The California Department of Alcohol and Drug Programs released a study on the prevalence of problem gambling “in the nation” this week, but did not identify which company conducted the research, how big a sample it covered or whether it was confined solely to land gambling. The department’s Office of Problem Gambling (OPG) said that the study had revealed that between 750 000 and 1.2 million California adults are considered pathological or problem gamblers.

“The legislation that created the Office of Problem Gambling focused resources on prevention and research,” said Steve Hedrick, director of OPG. “Now with this prevalence study we’ll be able to develop more effective prevention strategies and better understand how to help people with gambling problems.”

Key findings included:

The prevalence of problem and pathological gambling is particularly high among men, people with disabilities and unemployed individuals.

Between 296 500 and 490 000 adults in California are classified as lifetime pathological gamblers.

Between 450 000 and 713 400 others experience significant problems but do not meet the established criteria for pathological gamblers.

The majority of adults in California (83 percent) have gambled some time in their lives.

Playing the lottery is the favourite gambling activity for Californians in the past year. Casinos are the preferred place to gamble. Card rooms and internet gaming account for the greatest personal losses, but these are not adequately explained.

The multi-lingual telephone survey was conducted between 2005 and 2006 and included California residents aged 18 and over. Full methodology and the identity of the organisation which conducted the study was not disclosed in the public statement announcing he study’s findings.

eXTReMe Tracker