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| Consolidation effects to be discussed at American Gaming Summit |
12/27/2000 American Gaming Summit panel to confront the issue of consolidation on the gaming industry The American Gaming Summit, set to take place next month in Las Vegas, will discuss the effects of consolidation on the gaming industry. A panel of industry experts will also discuss the future of small gaming companies and the issues of acquisitions, anti-trust and economic concentration. "Consolidation: The Good, the Bad and the Ugly" is the topic of a panel discussion set for 2 p.m. Thursday, January 11, the first full day of the annual event that will be held at the Bellagio through January 12. The issue of consolidation is of great importance to the industry today and its implications need to be considered in great depth. Bob Faiss, panel moderator and partner in the Nevada-based law firm of Lionel Sawyer Collins, states, "As the creation of gaming jurisdictions has slowed throughout the country, major gaming companies have been able to expand principally through acquisition of other gaming companies." Lionel Sawyer Collins is a producer of the American Gaming Summit, together with Casino Journal Publishing Group and Bear, Stearns & Co. Faiss said consolidation panelists will review the elements that influence casino consolidation decisions; where casino consolidation appears to be headed in the early years of the 21st century; whether standards utilized by federal and state governments to evaluate proposed casino acquisitions are fair and adequate; whether any casino jurisdiction is approaching undue economic concentration; and the future for small casino companies. Speakers at the Summit include Jason Ader, senior managing director, Bear, Stearns & Co.; Clive Cummis, executive vice president & general counsel, Park Place Entertainment; James Hurley, chairman, New Jersey Casino Control Commission; James Murren, president, MGM MIRAGE; James Perry, president Argosy Gaming Corp.; and Brian Sandoval, chairman, Nevada Gaming Commission. According to Glenn Fine, Group Publisher for the Casino Journal Publishing Group, "It's been more than five years since speakers at the American Gaming Summit predicted that consolidation would shape the gaming industry into the 21st century?. Now that its effect has been truly felt, it's time to assess any further moves toward consolidation." The 2001 Summit will also honor MGM MIRAGE Executive Chairman J. Terrence Lanni with a Lifetime Achievement Award. In addition to honoring gaming greats such as Lanni, the Summit will also name the "Most Innovative Gaming Product of the Year". |
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