Inside Asian Gaming

INSIDE ASIAN GAMING | November 2008 46 Briefs International Briefs Anti-Piracy Alliance Formed To address an increase of piracy in the gaming industry,the major industry players have come together to form a Gaming Industry Piracy Alliance (GIPA), providing a structure through which members can jointly participate in the enforcement of intellectual property rights and other anti-piracy activities and initiatives. Aristocrat Technologies Australia Pty Ltd, WMS Gaming Inc, International Game Technology, Austrian Gaming Industries GmbH a 100% subsidiary of Novomatic AG, Bally Technologies Inc, Konami Gaming Inc, SPIELO Manufacturing ULC, Progressive Gaming International Corporation and ATRONIC International have now joined forces to carry out investigative and other operations targeting piracy on an international scale. The regions that this group’s anti-piracy efforts are targeting include North America, South America, Asia, Central and Eastern Europe (CEE Countries) and the Middle East. “GIPA members expend significant resources in creating intellectual property. The formation of GIPA demonstrates the importance we place on protecting those valuable assets”, commented Orrin Edidin, President of WMS Gaming Inc. Over the last two years,members of the alliance have successfully commenced criminal and civil proceedings in various countries worldwide against persons known or suspected of product piracy and intellectual property theft. These proceedings have resulted in court orders and raids that have permanently shut down a number of international pirate operations. With the formation of this anti-piracy alliance, the global gaming industry will be able to aggressively act against offenders. Most CityCenter Financing Secured MGM Mirage told investors last month that it had secured most of the remaining US$3 billion in financing for its massive CityCenter development. In a statement, the company said it had secured a $1.8 billion senior bank credit facility, which matures in April 2013. The facility is expected to be increased to $3 billion as additional commitments are received. MGM Mirage Chief Financial Officer Dan D’Arrigo said CityCenter, which has a budget of $9.2 billion, has received additional signed commitment letters totalling more than $500 million. Although the share price of MGM mirage has tumbled in line with its industry peers, the company has alleviated a significant question concerning CityCenter, which is expected to open next year.The development has a 4,000-room hotel-casino centerpiece, boutique hotels, high-rise residential and an entertainment, dining and retail complex. “On the positive side, these announcements show that the banks are willing to work with MGM Mirage to relieve potential balance sheet pressure,” Goldman Sachs gaming analyst Steven Kent said in a note to investors.“However, the credit facility amendment is also a potential signal that MGM Mirage will likely increase the leverage on its balance sheet and operating conditions remain challenging.” Bermuda Challenge for Macau Investors Last timewe checked,Bermudawas not a part of Asia.Wemention this tiny Atlantic outpost of what remains of the British Empire, because it’s talking about getting into the gambling business. This could have a direct impact on some of Macau’s Las Vegas investors, as Bermuda is only 650 miles and two hours’ flying time from the east coast of the United States. It’s also tax-free, imposing a levy only on payroll count and an annual licensing fee on each business. Ewart Brown, the premier of Bermuda, told the BBC during a visit to London that his government was doing a feasibility study on introducing casino and online gaming. Mr Brown said it was in response to the global financial crisis that has walloped Bermuda’s two main industries, namely offshore financial services and tourism. If things don’t work out with gaming, Mr Brown could always seek out his British namesake Gordon Brown for a cash handout. Bermuda is still officially an overseas territory of the UK. Expect the incoming administration in Washington DC to take a close interest in developments. Given that the United States is by far Bermuda’s largest trading partner, providing more than 71% of total imports and 85% of tourist visitors, then lobbyists from Atlantic City and Las Vegas will have a strong hand should they wish to complain to Capitol Hill. ATRONIC and Cantor Extend Cooperation ATRONIC Group, a leading global slot machine manufacturer, has extended its cooperation with Cantor Gaming for exclusive use of the former’s games on online and mobile platforms. This includes popular ATRONIC slot games, such as the classic SPHINX™ theme. Currently SPHINX can be played in casinos across 80 Bermuda beaches could offer a potent draw to casino-goers CityCenter