Gaming briefs for August 23, 2004

Monday, Aug. 23, 2004 | 10:36 a.m.

Casino receives $1 billion loan

Las Vegas Sands Inc. said it's opening a $1.01 billion credit line for the Venetian.

About $290 million will be used to repay existing loans while the rest will fund construction and pre-opening costs for the resort's Palazzo casino project, Las Vegas Sands said in a statement.

Last month, Goldman Sachs Group Inc. put its $975 million loan to the Venetian for sale to capitalize on demand for floating-rate assets, bankers familiar with the process said at the time. Las Vegas Sands didn't identify the providers of either the new or previous credit lines in its statement.

Gaming ads draw fire

RIVERSIDE, Iowa -- The leader of an antigambling group has filed a complaint with the state claiming a group pushing for a riverboat casino in Washington County illegally used pictures of Riverside firefighters and trucks in promotional ads.

Brad Franzwa, chairman of Communities Against River Expansion, said using the firefighters and fire trucks in the ads is a misappropriation of public money and violates state ethics board rules.

"We object to the fire trucks being pulled out of their bays and firemen getting dressed up in their gear for picture time with the casino," Franzwa said.

Acres Gaming trial delayed

RENO -- A lawsuit pitting a Reno casino against a gambling industry powerhouse has been delayed until March.

Washoe District Judge Brent Adams continued the civil case filed by the Siena Hotel-Casino against Acres Gaming, which has since been acquired by International Game Technology.

Trial had been set to begin Aug. 30 but was delayed because one of the principal lawyers is undergoing medical treatment.

The Siena sued Acres three years ago, alleging that sophisticated software to track player action was faulty. It also alleges Acres misrepresented that the system had been tested and licensed by Nevada gambling regulators.

Siena owner Barney Ng is seeking at least $97 million in compensatory damages, along with additional, unspecified punitive damages, his lawyer said.

Acres officials said they've offered to fix the problems, but the Siena refused and stopped making payments for the system.

Acres then filed a countersuit against the casino, seeking $1 million in back payments and interest.