Best online casinos, casino ranking, payout and bonus portal
Second Casino Boat OK'd
A second casino boat, 165-foot long, has received approval for operations at the Port of Palm Beach, joining the Palm Beach Princess in servicing gambling trips.
The 600-passenger SunCruz VI is expected to begin operations by the middle of January, 2007.
Port commissioners on Dec. 1 gave the green light to a contract with SunCruz Casinos, which could bring in over $1 million a year in additional revenue. The approval came following this year's exit of 2 passenger ships: the Cloud X ferry and the Big Easy casino ship, which obviously resulted in port revenue losses.
In 2005, the port utilized cash reserves to clean up its budget. This year, the port reckons they might do the same, considering that its cruise terminal has never achieved anything close to its intended traffic, even after 6 years.
Port officials told the media that although the Palm Beach Princess is successful and bringing in 12% of the port's annual revenues, there seems to be some problem with its parent company, ITG Vegas. Records from the Securities and Exchange Commission reveal that ITG Vegas has actually been under enormous corporate debt. If the rumors are true, if one of its major creditors is hinting at shutting out, then this could be quite unfavorable news.
Sunday, December 10 , 2006
Edward O'Connor