Gaming Legal News - August 23, 2012 • Volume 5, Number 19

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In This Issue:

- TRIBAL CASINO BANKRUPTCIES – THE TRAIN IS LEAVING THE STATION by Dennis J. Whittlesey:

There long has been a legal debate as to whether businesses owned and operated by Indian tribes could either file for protection under the federal Bankruptcy Code or, correspondingly, be involuntarily taken into bankruptcy by creditors...

- DETROIT CASINOS’ JULY AGGREGATE REVENUES DECREASE COMPARED TO SAME MONTH LAST YEAR: MICHIGAN GAMING CONTROL BOARD RELEASES JULY 2012 REVENUE DATA by Ryan M. Shannon:

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for July 2012 for the three Detroit, Michigan, commercial casinos. The three Detroit commercial casinos posted a collective 6.75% decrease in gaming revenues compared to the same month in 2011. Aggregate gross gaming revenue for the Detroit commercial casinos increased slightly, however, rising by approximately 0.5% in July compared to June 2012 revenue figures, continuing a trend of increase from June to July in prior years....

Please see full newsletter below for more information.

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Published In: Bankruptcy Updates, General Business Updates, Finance & Banking Updates, Indigenous Peoples Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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