All hell is breaking loose in Jolly Olde over rights to build England's first Las Vegas-style mega-casino, and now the U.S. company Las Vegas Sands Corp. (NYSE:LVS) has jumped in the middle of the maelstrom.

Just last week the Casino Advisory Panel advising Britain's Dept. for Culture, Media and Sport released its recommendation that Manchester be chosen to host this casino. This was a bombshell to the press and locals who had touted Blackpool or London as prohibitive favorites.

Once the site was chosen, the game was afoot for potential casino operators. Krezner International seemed to have the inside pole, but now Las Vegas Sands, on a roll from its China successes, has announced they will enter the competition. The Sands has world-class speed and a fat wallet, although they are already committed to another enormous development on Hengqin Island near Macau.

As you can imagine, rumors are flying about other potential bidders for the rights, including Harrah's Entertainment, Inc. (NYSE:HET) and MGM Mirage (NYSE:MGM).

The plot thickens even more, however. Members of Parliament, led by the Blackpool contingent, are demanding reopening of the decision-making process. They seem to be gaining a great deal of support, although it's too early to put odds on their chances.

Watch the news over the next couple of days. Odds are, no contest will be quite as entertaining.

While gaming money flows toward exotic locations such as Macau, domestic gambling companies continue to turn up winning cards. Ameristar (NASDAQ:ASCA), the American casino company based in Las Vegas with casinos throughout the Midwest, reported Friday a strong fourth quarter, culminating the most prosperous year in the company's history. EBITDA for the quarter finished at 6.4%, or $66.1 million, with net earnings of $17.8 million. Earning per share of $0.31 exceeded market expectations of $0.25.

This performance is especially impressive in light of the death in November of founder and chairman Craig Neilsen. Also, the 2005 same-quarter report, against which this year's was compared, was heavily skewed by a windfall from gamblers fleeing the destruction of Hurricane Katrina to Ameristar's casino inland at Vicksburg, MS. With the rebuilding of coastline casinos, the Vicksburg location's take has returned to more typical levels.

On the heels of Neilsen's passing, some have wondered if the company would be put up for sale. New CEO John Boushy stated late last week that the company is not for sale, and that it intends to double their EBITDA within the next three to five years. Key to this ambition is expansion of operations in Black Hawk, Co., St. Charles, MO., and Vicksburg, MS.

Some analysts are concerned about the increased competition the company will face in the St. Louis market, as several competing casinos approach completion. Stifel Nicholaus & Co., for example, continues to keep Ameristar at a hold, although it has raised its projection of 2007 Ameristar earnings per share from $1.38 to $1.45.

Also check out some other earnings reports that we're following, and let us know what you're expecting.