Gaming industry investors found themselves snorkeling in July, as casino company stocks closed down for the third month in a row. The Dow Jones U.S. Gambling Index, a Dow Jones & Co. industry index of 64 publicly traded casino companies, closed at 525 Monday, down 6.25 percent from 560 at the end of June. Analysts […]
Tag Archives: gambling
As reported by the Financial Times: “The size of the investment, double the figure reported originally, is part of the US-based gaming company’s plans to change the face of the former Portuguese enclave’s tourism industry, from offering one-day gambling trips to becoming a longer-stay destination. “Company president and chief operating officer Bill Weidner said: ‘These […]
A California businessman who claims that Las Vegas casinos preyed on his gambling addiction is attempting to sue MGM-Mirage properties after losing millions of dollars over a nine-year period. Shibley Horaney, of Long Beach, Calif., claims that beginning as early as 1995, representatives from the MGM Grand and The Mirage aggressively solicited him to open […]
New 54 online slots will be available on the company’s online gaming sites. “There is a growing market for online slot machines and we have put a lot of effort into creating the best online slots on the Internet” explained Mr. Alon Peled, Mentor Gaming CEO The new online slot machines from Mentor Gaming will […]
As reported by the Shanghai Daily: “China lottery sales amounted to approximately 70 billion yuan last year, said Wang Xuehong, director of the China Center for Lottery Studies at Peking University. “According to the center’s market survey, illegal betting revenue was tenfold of legal lottery sales, Wang said. “In recent several years, gambling funds have […]
Lasseters Online Online, the first ever online gambling site to be government licensed and regulated, is running a competition where one new player and their companion will win a $15,000 vacation to Australia. Only players who have never previously played at Lasseters Online will qualify for the competition. Existing players however are urged to invite […]
When poker’s ultimate champion is crowned on Aug. 10, the 2006 version of the World Series of Poker will have broken every conceivable record since the tournament was developed 37 years ago in a smoky downtown poker room at Binion’s Horseshoe. In the following months, Jeffrey Pollock will be busy planning to break all those […]
As reported by the Times-Mail: “The deeper Indiana gets into the gambling business, the more it will need top-notch security officers in casinos. “Gov. Mitch Daniels has taken a good first step in taking Indiana State Police troopers out of the gambling houses and putting them back into communities and on highways, where they best […]
As reported by Reuters: “A bill to outlaw most forms of Internet gambling appears unlikely to win U.S. Senate passage before senators begin a month-long recess on August 4, two Republican leadership aides said on Tuesday. “They said backers of the legislation were trying to build support for it and resolve differences as the Senate […]
As reported by the U.K. Telegraph: “Internet gambling company BetonSports has removed David Carruthers from his job as chief executive following his arrest in the United States on charges related to an alleged racketeering conspiracy. “The company said that yesterday ‘the contract under which David Carruthers acted as CEO of the company was terminated’. “.BetonSports […]
At the World Series of Poker tournament at the Rio, operators of Internet gambling sites are hosting swank hospitality suites to promote online poker games. Potential customers are invited to learn the ropes by playing free games where no money changes hands. But promotions can no longer be found for online sports betting, which is […]
Nevada gaming regulators need to get tough, in a hurry. The state’s Gaming Control Board takes great pride in being strict enforcers of the rules that govern Nevada gambling. And they are – for the most part. But the meteoric growth of the poker business has blinded the gaming industry’s cops, and they seem unable […]
The surprise airport arrest of a prominent UK internet gambling executivethis week is a counter-productive application of US law that ignores complexinternational trade issues, says Larry Gaydos, partner in the White CollarDefense/Antitrust Practice Group at Haynes and Boone, LLP. “Selectivelytargeting foreign businessmen who are respected in their own country tosensationalize the issue is unfair to […]
As reported by the Buffalo News: “The Seneca Nation of Indians is shielding its members from paying millions of dollars in federal income taxes on their personal share of tribal casino profits. “The nation claims no taxes are due because the money is tied to a tax-free lease settlement the tribe struck in Salamanca 12 […]