Featured Articles Archive - Page 126

Plaza's re-emphasis on gaming leads to prosperity

Plaza Las Vegas CEO Jonathan Jossel often logs on to online message boards where downtown Las Vegas casino customers leave random comments about their experiences.What's even more surprising? Not only does Jossel read the comments and suggestions, but he often replies...read more

New York judge grants preliminary injunction against daily fantasy sites

DraftKings and FanDuel are "illegal gambling operations" that "subject the public to fraudulent perceptions." That's what a New York Supreme Justice Judge said today when he granted the New York State Attorney General's preliminary injunction against DFS operators, a devastating blow to the entire industry and its millions of customers in the Empire State. The decision comes as of a result of cease-and-desist orders sent to the two DFS industry giants on Nov...read more

Analyst: Investor interest in Strip's Alon project may be 'diminishing'

An Australian gaming analyst said one of the developers of the proposed Alon project on the Strip is having trouble raising the financing that is needed to help build the planned hotel-casino complex.In a research report Thursday, Credit Suisse gaming analyst Larry Gandler said Crown Resorts, the Australian casino developer that owns 74% of Alon, was looking to finance the resort by reducing its stake in project."That seems to be taking longer than we thought," Gandler said...read more

Golden Entertainment sells promissory note to Penn National Gaming

Golden Entertainment said Thursday it sold a subordinated promissory note the company held for the Jamul Indian Village in San Diego to a subsidiary of Penn National Gaming for $24 million.Penn is developing the $390 million Hollywood Casino Jamul for the tribe...read more

Pennsylvania House passes four amendments to gambling expansion bill

The Pennsylvania House of Representatives passed four amendments on Wednesday to a bill that would expand gambling in the state, as well as license and regulate online gaming.Included in those amendments was one that passed by a narrow 96-93 vote that would legalize the installation of up to five video gaming terminals (VGTs) in more than 12,000 eligible private clubs, taverns and other venues that hold state liquor licenses and add nearly $200 million in estimated revenue to the budget proposal...read more

Dan's DFS picks for NFL Week 14

It's Week 14, which means it's the first week of the playoffs for most season-long fantasy football leagues. I snuck into my league's postseason as the No. 6 seed (out of six teams), so I'm looking to make a 2007/2011 New York Giants-esque run and come out of nowhere to win the title.I could use the $700 first-place prize, too, as my daily fantasy bankroll keeps on plummeting by the minute...read more

PokerStars responds to boycott

Talk about burying the lead.At long last, PokerStars.com responded to last week's boycott of the site by several well-known and high-volume poker players when Vice President of Corporate Communication Eric Hollreiser posted a blog item yesterday.It has been eight days since the start of the boycott, which included more than 2,000 players and was organized on the Two Plus Two forums in response to changes announced by PokerStars on Nov...read more

Wynn stock purchase spurs 13% jump in share price

Steve Wynn spent roughly $63.8 million in an effort to boost the stock price of Wynn Resorts Ltd.The decision worked, albeit, at least for one day.Shares of Wynn Resorts jumped more than 13% on the Nasdaq on Wednesday, a day after the company announced its chairman and CEO acquired more than 1 million outstanding shares of the casino company on the open market.News that Wynn increased his controlling stake to more than 11 million shares after five purchases between Friday and Tuesday spurred the interest of the investment community.Wynn Resorts closed at $69.91 Wednesday, up $8.11...read more

RAWA hearing a disaster for Chaffetz, online gambling ban supporters

Let's be clear: Rep. Jason Chaffetz (R-Utah) doesn't care about facts.So it's no surprise that the chairman of the House Oversight and Government Reform Committee, who also happens to be one of Sheldon Adelson's best friends, opened a hearing titled "A Casino in Every Smartphone – Law Enforcement Implications" with a slew of misinformation and fearmongering."Now, anything connected to the Internet, desktops, laptops, tablets, smartphones, no matter your age, is becoming a casino," said Chaffetz in a rambling 10-minute opening statement...read more

Inside Gaming: Nevada AG describes 'nuances' in his position on RAWA

Nevada Attorney General Adam Laxalt didn't back away from adding his name to a letter circulated by an attorneys general group offering support for federal efforts to restore the Interstate Wire Act back to its pre-2011 interpretation.But the state's top prosecutor Tuesday outlined "some nuances in my own position."Laxalt sent a separate letter to congressional leaders ahead of Wednesday's scheduled House Committee on Oversight and Government Reform hearing on the Wire Act legislation in Washington, D.C...read more