Casino Expansion Not Sure Bet - 2004-01-05
Expanded gambling would be beneficial for Kansans, and the first step should be a premier casino close to the Kansas Speedway in Wyandotte County. That recommendation is the decision of Gov. Kathleen Sebelius' task force on expanded gambling. But enacting it, or something similar to it,
is sure to be one of the most complicated and politically wrenching issues of the 2004 legislative session, which starts Jan. 12.

"This session will be key," said Sebelius, who supports expanded gambling as part of a solution to the state's budget shortfall.

For the past 10 years, efforts to develop gambling in Kansas, during both the best and worst economic times, have been killed by a combination of special interest infighting and general moral opposition to the idea.
Read the full story at GamblingMagazine.com

UPDATE 1-American Real Estate to buy two Las Vegas casinos - 2004-01-05
American Real Estate Partners LP (ACP.N: Quote, Profile, Research) stated on Monday it had agreed to buy two Arizona Charlie's casinos in Las Vegas from its chairman and controlling shareholder, Carl Icahn, for $125.9 million and intended to offer $200 million in debt.

The Mount Kisco, New York-based owner of the Stratosphere Casino Hotel & Tower on the Las Vegas Strip said its indirectly wholly owned subsidiary, American Casino & Entertainment Properties, would acquire the Arizona Charlie's Decatur and Boulder properties from Icahn and an affiliated entity.

American Casino planned to raise $200 million in senior notes due 2012 to fund the acquisition and other investments, Chief Financial Officer John Saldarelli told Reuters.
Read the full story at Reuters