Featured Articles Archive - Page 251

Top-10 quotes from the House subcommittee hearing on online gambling

Someday, we may look back on last week's hearing on Internet gambling in the House Subcommittee on Commerce, Manufacturing and Trade as the turning point in the online gambling debate. There have been dozens of hearings on the topic over the last decade, but never has the tone of a hearing been so supportive of regulation.There were some great moments in the hearing, with both witnesses and members of Congress getting a chance to score points for their side of the issue.You can watch the entire hearing below, or scroll through the video to find the top-10 quotes from the hearing.10...read more

Las Vegas Sands cancels $30 billion EuroVegas development in Spain

LAS VEGAS -- Las Vegas Sands Corp. on Friday canceled plans for a $30 billion resort and gaming complex in Madrid, saying the EuroVegas development was no longer in the best interests of the company’s shareholders.In a statement, Las Vegas Sands said it would focus on development opportunities in Asia...read more

Gaming advisement firm disputes Caesars' assertion of suitability

A New Jersey gaming advisement firm disputed a claim raised in a lawsuit by Caesars Entertainment Corporation that it told Massachusetts regulators the casino operator should be found suitable to operate a Boston-area resort complex.Spectrum Gaming Group LLC, which conducted a suitability background investigation of Caesars Entertainment for the Massachusetts Gaming Commission, said in a statement it did not make any recommendation in its draft report.In a federal lawsuit Caesars filed this week against Massachusetts Gaming Commission Chairman Stephen Crosby, company attorneys wrote that Karen Wells, director of the state’s Investigations and Enforcement Bureau, failed to disclose to the commission that Spectrum recommended Caesars be found suitable.The bureau, relying on Spectrum’s report, told the commission in October that investigators found four areas of concern about the company’s potential suitability...read more

Inside Gaming: SLS aims to avoid Cosmo's mistakes

LAS VEGAS -- Much has been speculated about the business model for SLS Las Vegas.Los Angeles-based SBE Entertainment Group, LLC is spending $415 million to transform the Rat Pack-era Sahara into a stylish, ultramodern hotel, bringing to the Strip amenities closely associated with Hollywood and Beverly Hills, Calif.When the remade hotel-casino opens in September, SLS Las Vegas will have nearly a dozen restaurants and nightlife brands, most owned by SBE...read more

Deal Me In: Uncle Sam loves those $1,200 jackpots

Dear Mark: Who originated the $1,200 starting point as the amount that can be taxed when playing slots? It seems when playing today’s higher denomination machines, you get taxable jackpots far more often. Sam L.The $1,200 threshold, Sam, came about 40 years ago when the government and casino industry negotiated that specific sum...read more

Poker Player Tweets of the Week: How to view your losses

Nothing puts a damper on the holiday season more than a "Friday the 13th." Today's the day. I'm not a superstitious guy, but of course many people in the gambling world are. So today is a bit of a holiday itself, depending on which way you look at it. But let's ignore the hoax that is Friday the 13th and instead focus on the ramblings of poker players over the past few days. And for what it's worth, this will be my final "Poker Player Tweets of the Week" column of 2013...read more

Caesars files lawsuit against Massachusetts gaming commission chairman

Caesars Entertainment Corporation filed a lawsuit against Massachusetts Gaming Commission Chairman Stephen Crosby, claiming the state’s top gaming regulator had several conflicts of interest that ultimately played into the casino giant’s departure from a proposed $1 billion Boston-area gaming complex.The lawsuit, filed late Thursday in U.S...read more

Macau operations help credit profiles of Las Vegas Sands, Wynn Resorts

LAS VEGAS -- Compared with the competition, Las Vegas Sands Corp.’s outstanding long-term debt of just less than $10 billion seems manageable, which led Wall Street to praise the company’s plans to restructure a portion of the obligations.The difference between Las Vegas Sands’ debt of $9.76 billion and the industry-high $23.7 billion owed by Caesars Entertainment Corp...read more

Abboud called hypocritical in House hearing

The potential for federal online gambling legislation was the topic of an in-depth discussion in a House subcommittee meeting on Tuesday, but no clear vote or determination was made on the issue.The House Energy & Commerce Committee's Subcommittee on Commerce, Manufacturing and Trade held a hearing on the state of online gaming to examine the status of Internet gambling in the United States and to review H.R...read more

Top-10 non-card betting games

My top-10 list last week was all about card games you could bet on that aren't poker. While Casino City Editor-In-Chief Vin Narayanan had a beef with some of my choices (he believes 7/27 and guts are poker games), the entire editorial department agreed that it was fun to think about betting on games that aren't poker.So this week, my top-10 list is devoted entirely to games that you can bet on that aren't card games.10...read more