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In an interview with IGamingNews, Internet Gambling Report contributor Henrik Hoffman explains the Ministry of Taxation's announcement that sectors of the country's monopolistic gambling market will be liberalized.

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Lawrence Walters examines a question on the minds of many online gambling executives.

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Blogs
Nov20

Written by:Jeanette Kozlowski
11/20/2008 1:00 PM 

During third and final day of G2E, the stock market continued its downward spiral. Not that it has any correlation with the end of G2E, but ouch.

Day three began with an update on I-gaming session. Unfortunately I was still diligently packing my bags and checking out of the Paris during this time. Anyhow, any noteworthy updates are likely to already have  been covered extensively by my astute colleagues at IGamingNews, including the buzz surrounding California's possible I-gaming poker legislation.

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Yikes.

Speaking of I-gaming, I had several conversations with folks in that sector during the past two days. Today I chatted with Kim Northrop of CyberArts, yesterday with Vahe Baloulian, CEO of Red Planet Gaming. Both software companies had booths at G2E -- Red Planet for the second year in a row and CyberArts for the first time since 2006. Ms. Northrop even mentioned that many Europeans stopped by her booth inquiring about an I-gaming section at G2E. Obviously there was not one. Audio interviews with both are forthcoming.

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Glamor prepares for liftoff.

While waiting patiently for the expo hall to open, Holly and I took in a practice session of Blue Suede Crew -- an Elvis and Johnny Cash tribute band that performed later on the massive entertainment stage set up in the middle of the concourse. Then I had a sit-down with Bally Technologies' VP of marketing Dan Savage, who was kind enough to explain server-based gaming to me in layman's terms. Also, I spoke with Kirsten Clark of Shuffle Master, who said foot traffic was much slower compared to last year. I'll post those audio interviews in the coming weeks as well.

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G2E's magical power resurrects Elvis.

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The King in full costume.

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Shuffle Master's pretty women.

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Tribes and banks talk financing.

One of the G2E 2008's final sessions, “Changing Times: Tribal Financing in Today's Market” looked into relationships between Native American gaming groups and potential lenders. Moderator Sam Cohen, a tribal attorney with Santa Ynez Band of Chumash Indians, began by saying, “We are all in agreement that the economy is uncertain, but that doesn't mean that we shouldn't stop thinking of tribal financing.”

Panelists:

  • Jeff Hartmann, executive vice president and COO, Mohegan Sun
  • David Howard, Banc of America Securities LLC
  • Mike Lettig, executive vice president, Key Bank

The sparsely attended session rehashed the importance of developing and maintaining healthy relationships with banks, especially during this icky financial time.

Here are the main takeaways:

  • “People really want to do business with people they know,” Mr. Howard said. “Lenders want to feel very comfortable with the management and the property.”
  • “Financial institutions aren't like gas stations: They aren't changing their prices everyday -- but they're pretty damn close,” Mr. Lettig said. “When you go to a gas station, do you barter with the guy for the cost of gasoline? No, you grumble and put that in your tank.”
  • “What to expect going forward: What is going on in the economy is very deep, very broad, and we're not feeling that there is going to be much of a recovery ... not really until late next year and it may go into 2010,” Mr. Howard projected. “The financial sectors are under stress and liquidity will continue to be under pressure.”

 

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God bless branded slots.

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Spirits remain high in the show's final hours.

And that's a wrap. I'm off to go explore Vegas for another three days, which hopefully doesn't end in fear-and-loathing fashion. If someone can convince me, maybe I'll share the remainder of my trip with you when I return to good ol' St. Charles.

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