Featured Articles Archive - Page 337

Macau gaming revenues hit $3.12 billion in March

First-quarter gaming revenues produced by Macau's casino market is up 27 percent over 2011, a year in which the Chinese gaming enclave's 34 gambling halls had a 12-month total of $33.5 billion. Macau's Gaming Inspection and Coordination Bureau said Monday that gaming revenues reached $3.12 billion during March, a 24 percent increase compared with a year ago...read more

Affinity Gaming turns small quarterly profit

LAS VEGAS -- Las Vegas-based Affinity Gaming, which is refocusing itself as casino operator in four markets, grew revenues and turned a small profit in the 2011 fourth quarter, the company said in statement Tuesday.Affinity, formerly known as Herbst Gaming, had revenues of $154.6 million in the quarter ended Dec...read more

New Jersey Senate committee passes online gambling legislation

A senate committee in New Jersey voted Tuesday to allow Atlantic City casinos to offer online gambling services to New Jersey residents. The bill approved by the Senate Budget and Appropriations Committee (SBA) permits all forms of gambling allowed in Atlantic City to be offered online, requires that all the equipment used to offer online gaming be housed in Atlantic City and sets a 10 percent tax on Internet gross gaming revenue. Land-based gross gaming revenue is taxed at a rate of 8 percent. Gov...read more

Caesars sells part of interactive gaming subsidiary

Caesars Entertainment sold an undisclosed percentage of its interactive gaming subsidiary to its partner in two Ohio casinos for $60.8 million, the company disclosed late Monday.In a filing with the Securities and Exchange Commission, the company said Rock Gaming purchased 50 percent of the more than 12,300 shares on Friday...read more

Top-10 gambling fantasies

Last week, lottery fever hit the United States hard. The $640 million Mega Millions jackpot was the largest in U.S. history, and three winners will be splitting a life-changing amount of money.Millions of Americans bought tickets. Some pooled funds to get a larger number of tickets...read more

March mixed for gaming stocks

LAS VEGAS - Publicly traded gaming companies gave investors a slew of mixed messages during March. The average daily share price for two casino operators that derive most of their revenues from Asia blossomed during the month. Three of four gaming equipment manufacturers also experienced marked stock price increases. But other companies, including the two largest Strip casino operators, saw small declines. The average daily stock prices were followed by Las Vegas financial consultant Applied Analysis for the company's Gaming Index, which rose almost 7 percent over February's close...read more

Why is blackjack better for players when dealers must stand on soft 17?

How often in blackjack have you stood on a total of 16 or less against a six-up, or doubled down and finished at or below this level, thinking you’re still in decent shape because the dealer has a stiff and is probably going to bust? Then, in the most common version of the game, watch the dealer turn over an ace and stand on the soft 17, beating you then and there. You’re most likely aware that in some casinos, the dealer hit soft 17s...read more

Nevada urged to move on Web gaming market

Reno businessman Paul Mathews Jr. cut right to the heart of what he and fellow members of the governor's Gaming Policy Committee hope to address over the next five months: Nevada needs to capitalize on the rapidly changing Internet gaming market. Online gaming offers Nevada the best available opportunity to grow its economy, added Mathews, a founder of the Internet technology provider Wagerworks, bought by International Game Technology in 2005. "It's time for Nevada to be able to leverage its regulatory apparatus to our benefit," said Mathews, a co-owner of incuBET, a company that develops online computer games...read more

MGM Resorts to seek alternative Mass. location

LAS VEGAS, Nevada -- MGM Resorts International has abandoned a proposed casino site in Massachusetts, but plans to seek alternative location in the western part of the state. In a statement, the casino operator said there were "too many complications" in pursing a hotel-casino development on a 150-acre site near the town of Brimfield, which is about 65 miles west of Boston...read more

WMS files for Nevada online gaming license

LAS VEGAS, Nevada -- Slot machine maker WMS Industries said Tuesday it has applied for an interactive gaming license with Nevada. WMS joins the more than two-dozen casino operators and gaming equipment manufacturers that have filed applications with the state Gaming Control Board. WMS Preside...read more