Featured Articles Archive - Page 361

Top-10 ways the industry could screw up online gaming in the U.S.

Two days before Christmas, the Department of Justice handed the gambling industry a gift when it reversed its stance on the Wire Act and decided intrastate non-sports related gambling was legal. As the industry cheered the DOJ opinion and eagerly anticipated licensed and regulated online gaming coming to the U.S., the only thought running through my mind was now was the time for a Lee Corso style "Not so fast my friend." The DOJ opinion removes a legal and political obstacle for online gaming...read more

Resorts World New York collects almost $90 million

NEW YORK, New York -- Resorts World Casino New York City, the casino attached to the Aqueduct Race Track in New York City, collected gaming revenues of $89.9 million through Dec. 31, having been open less than three months.Malaysia-based Genting operates the casino, which opened its second phase Dec...read more

Downtown Las Vegas ready for transformation

LAS VEGAS, Nevada -- Downtown Las Vegas needs more than just a steakhouse named for former Mayor Oscar Goodman if the market is going to rebound following gaming revenue declines in five of the last six years.That extra help is on the way.2012 is a transition year for downtown, in advance of online retailer Zappos' 2013 relocation of some 1,000 employees into the soon-to-be reconfigured former City Hall, providing a new source of business.The market also awaits redevelopment of the shuttered Lady Luck, a remodeling of Fitzgeralds Casino & Hotel, and a $12 million expansion of the already-renovated Golden Gate Hotel & Casino...read more

How do betting strategies affect your blackjack performance?

Blackjack card counters can get an advantage over the casino by raising their bets when favorable ranks dominate what remains to be dealt from a deck or shoe. Given the rules dealers must follow and the options available to players, the house has a small edge when ranks are uniformly distributed...read more

M Resort's Marnell says he opposes Internet poker legalization

LAS VEGAS, Nevada -- M Resort President Anthony Marnell III said he opposed the legalization of online poker during a recent interview with a statewide public affairs television program.Marnell became the second gaming industry executive to come out against the current efforts to legalize Internet poker, echoing similar comments made last month by Las Vegas Sands Corp...read more

Nevada casinos suffer $4 billion net loss in fiscal 2011

LAS VEGAS, Nevada -- Nevada highest-grossing casinos suffered a net loss of almost $4 billion in fiscal year 2011, according to a report released this morning by state gaming regulators. According to the Nevada Gaming Abstract, 256 casinos, which grossed $1 million or more in gaming revenue, gen...read more

Gaming stocks slump in 2011

LAS VEGAS, Nevada -- Good riddance to 2011. A majority of the gaming sector saw its average daily stock prices nosedive during the year despite a perceived economic recovery in most of the major gambling markets, including Las Vegas. Seven out of the 10 casino operators and slot machine manufacturers followed by Las Vegas-based financial consultant Applied Analysis for the company's gaming index finished December below their average daily price from December 2010. Five companies suffered double-digit declines. "While gaming companies' stock and financial performances outpaced 2010 in aggregate, individual operators and manufacturers experienced varying degrees of success," Applied Analysis Principal Brian Gordon told clients in a research report. "During the final month of the year, speculation about the impact of Internet-based poker, new developments in emerging markets and broader economic conditions were key drivers of the sector's performance," Gordon said. Slot machine maker WMS Industries ended 2011 with the biggest 12-month decline in average daily price per share of any company, falling almost 57 percent...read more

Macau gaming revenues $33.5 billion last year

MACAU -- Forget the Strip. Macau's 2011 gaming revenue total surpassed the combined casino revenues produced by the top 20 U.S. commercial casino markets in 2010. And, analysts said, Macau shows no signs of a slowing. Macau gaming revenues reached a staggering $33.5 billion in 2011, the Chinese Special Administrative Region's Gaming Inspection and Coordination Bureau reported Tuesday...read more

DOJ statement not a green light for Internet gaming

LAS VEGAS, Nevada -- Based on the reaction of Internet poker supporters, you would have thought Santa Claus had arrived early. Two days before Christmas, the U.S. Department of Justice announced it reversed a long-standing opinion on the federal Wire Act of 1961...read more

Brunson earns EPL Lifetime Players Card

LAS VEGAS, Nevada -- Is there any honor or recognition that poker icon Doyle Brunson has yet to receive?Brunson, 78, is considered the game's living legend. He was one of the original Texas Rounders, a group of gamblers who traveled the back roads of the state finding the big money poker games in the 1950s and 1960s.He eventually settled in Las Vegas, twice winning the World Series of Poker's Main Event World Championship in 1976 and 1977 and earning 10 individual event championship bracelets, his last coming in 2005...read more