Featured Articles Archive - Page 244

Top-10 reasons why Sheldon Adelson's anti-online gambling stance is ridiculous

Top 10 reasons Sheldon Adelson's anti-online gambling stance is ridiculousYesterday, the Washington Post reported that Sheldon Adelson, chairman and CEO of Las Vegas Sands, is putting together a lobbying effort to urge lawmakers to not only block efforts to regulate the online gambling industry, but to strengthen current federal law and ban the industry.This isn't exactly surprising...read more

Inside Gaming: Foreign deals can include risks

Payoffs to government officials typically don’t show up on the balance sheets of U.S. gaming companies.That the accounting practice is commonplace in some countries was a reason Penn National Gaming rejected expansion into Asia.In a speech Nov...read more

Loveman still livid about Massachusetts rejection

LAS VEGAS -- It’s been nearly a month, but Caesars Entertainment Corporation Chairman Gary Loveman is still fuming over his company’s rejection by casino regulators in Massachusetts.The company was partnering with the Suffolk Downs Race Track on a proposed $1 billion gaming complex in Boston and had spent about $100 million on the development...read more

Deal Me In: I've been everywhere

Dear Mark: I really enjoyed your column called “Vegas on the Cheap.” Yes, every place that I gamble does offer other forms of entertainment besides losing money. I am curious as to what are your favorite places to go where they offer gambling, but not for the sake of gambling itself? Alan R.As Johnny Cash rat-tat-tats towns, cities and states like Reno, Chicago, Fargo, Minnesota, Buffalo, Toronto, Winslow, Sarasota on his hit, “I’ve Been Everywhere,” I too have been everywhere, at least when it comes to casino destinations, including on that dusty Winnemucca road...read more

Rep. McDermott re-introduces 12 percent online gambling tax

Rep. Jim McDermott (D-Wash.) on Thursday introduced "The Internet Gambling Regulation and Tax Enforcement Act of 2013" in the House of Representatives. Under the proposal, operators, not players, would pay a 12 percent deposit tax, including four percent to the federal government and eight percent to qualified states and tribes, depending on the location of the player making the deposit.The bill, which coincides with legislation introduced earlier this year by Reps...read more

Poker Player Tweets of the Week: Mo' Money Mo' Problems

Hello again, poker fans. After taking a week off to do the whole "getting married" thing, I'm back in the saddle to bring you the best tweets from poker players from the past week. A lot has happened since my last column, but nothing more important than Ryan Riess taking down the 2013 World Series of Poker Main Event for a cool $8.36 million...read more

Analysts love Multimedia Games; investors less enchanted

The analyst community has a love affair with slot machine manufacturer Multimedia Games, Inc.Investors, however, expressed some skepticism.Multimedia Games grew profits and revenues in both the fourth quarter and fiscal 2013, the Austin, Texas-based company said Thursday, but the company’s share price dropped 7 percent in trading on the Nasdaq.Multimedia Games has cut into the market share of the major slot machine manufacturers and its products have been wildly praised by slot machine floor managers.During fiscal 2013, which ended Sept...read more

Affinity Gaming sees revenues decline in third quarter

LAS VEGAS -- Affinity Gaming, which operates the Primm casinos and the off-Strip Silver Sevens, experienced declines in operating income and net revenues during the third quarter, the company said Wednesday.Affinity, which also has casinos in Northern Nevada, Missouri, Iowa and Colorado, said its operating income in the quarter that ended Sept...read more

Loveman plans to recognize employees in Gaming Hall of Fame speech

LAS VEGAS -- Caesars Entertainment Corporation Chairman Gary Loveman tops the list of the four 2013 inductees into the Gaming Hall of Fame, but his acceptance speech isn’t going to be about his career.Loveman plans to recognize the employees of the casino company, including executives who have moved on in their careers.Loveman, who joined Caesars in 1998 and has been the company’s CEO since 2003, said he’s especially happy to enter the hall in the same class as two individuals closely associated with Caesars Palace...read more

American Casino loses $9.4 million in third quarter

LAS VEGAS -- The parent company of the Stratosphere Casino Hotel and Tower and the two Arizona Charlie’s casinos said Tuesday it more than doubled its net loss in the second quarter.American Casino & Entertainment Properties, LLC said lost $9.4 million in the quarter that ended Sept...read more