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Foreign Exposure
 
11.26.2014
 
Former Ontario wine executive reignites business for Port wine producer
 
“Renault
 
After acquiring a Portuguese vineyard property in 2011, Colt Resources Inc. tapped veteran winery executive Donald Ziraldo to improve the management of Port wine producer Senhora do Convento.
Távora, Portugal—Wineries in North America appreciate the validation that comes from foreign investment—especially when Old World names such as Drouhin, Antinori and others commit to developing properties in new wine regions.

Similarly, when big money from aspiring regions comes calling, there’s a sense of pride that a region has come into its own. Examples include the flow of cash from Asia into wineries in British Columbia and other Pacific Rim regions. Properties such as Chaberton Estate Winery and Lulu Island Winery in the suburbs of Vancouver, B.C, both have Chinese backing, and earlier this year a Beijing buyer bought Paradise Ranch Wines Corp., a major ice wine producer and owner of Bench 1775 in Naramata, B.C.

 
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The Latest Atlantic City Gambling Victim
 
11.25.2014
 
New Jersey's oldest commercial wine producer, files for bankruptcy protection during reorganization
 
“Renault
 
The chief operating officer of Renault Winery says he hopes to restructure the company’s finances to “ensure us being here long into the future.”
Egg Harbor City, N.J.—A year ago, Atlantic City, N.J., had 12 casinos. Today, four have closed and another one, the Trump Taj Mahal, may shut its doors in December. For years Atlantic City was viewed as the “Las Vegas of the East.” Tourists flocked to the casinos, then visited Jersey shore towns and beaches as well as other local attractions, including nearby wineries. However, casinos have opened in neighboring states, and in the past five years the number of gamblers and other tourists in Atlantic City has declined. When the first Pennsylvania casino opened in 2006, revenue at Atlantic City’s casinos was $5.2 billion; by 2013, that revenue had dropped to $2.86 billion.
 
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Wine Industry Metrics
 
Off-Premise Sales » Month   12 Months  
October 2014 $570 million
6%
$7,775 million
6%
October 2013 $539 million $7,342 million
     
Direct-to-Consumer Shipments » Month   12 Months  
October 2014 $284 million
18%
$1,751 million
13%
October 2013 $240 million $1,556 million
     
Winery Job Index » Month   12 Months  
October 2014 139
6%
226
18%
October 2013 131 192
     
 
MORE » Released on 11.13.2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 

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