Featured Articles Archive - Page 375

Paddy Power seeking Nevada gaming license

LAS VEGAS, Nevada -- An Irish gambling company could become the first European online gaming operator licensed in Nevada.Paddy Power, which has Internet gambling websites in Europe and Australia, is seeking approval from Nevada gaming regulators for a license as a manufacturer and operator of mobile gaming devices.The licensing is viewed as a precursor for Paddy Power Poker to seek approval for a Nevada-based Internet poker website, should the federal government legalize the activity.Paddy Power is headquartered in Dublin...read more

Full Tilt Poker's gaming license revoked by Alderney

The Alderney Gambling Control Commission (AGCC) revoked Full Tilt Poker's license today."At a hearing held in London over six days, it emerged that FTP had fundamentally misled AGCC about their operational integrity by continuously reporting as liquid funds balances that had been covertly seized or restrained by U.S...read more

Caesars Entertainment bidding on Maryland casino

BALTIMORE, Maryland -- An investment group led by Caesars Entertainment Corp. appears to be the frontrunner for a gaming license to operate a slot machine casino in downtown Baltimore.The group submitted its bid with a required $22.5 million initial license fee...read more

California casinos see revenue decline

SACRAMENTO, California -- California's Indian gaming market has been good for slot machine manufacturers.The state's casinos, which operate more than 66,000 slot machines, have oftentimes served as a live case study for the gambling equipment sector.Before the recession hit, manufacturers who were rushing to bring server-based slot machine technology to the market were able to test products and equipment on casino floors in California...read more

Nevada online poker talks draw little controversy

LAS VEGAS, Nevada -- Proposed gaming regulations covering the operation of Internet poker in Nevada -- should the federal government legalize the activity -- drew lots of attention Monday, but little in the way of controversy.The Gaming Control Board spent about 75 minutes taking public input into the proposed regulations, which cover all matters of regulatory oversight for a company looking to set up an Internet poker business in Nevada.Just a handful of comments were offered during the session, which filled the control board's hearing room at the Sawyer Building with gaming lawyers, gaming industry consultants and representatives of Nevada slot machine makers and casino operators."I think we have a solid foundation for regulations," control board Chairman Mark Lipparelli said.The proposed regulations were released at the end of August.Lipparelli said the planned timetable for the regulations would be for additional public hearings at the control board's and Nevada Gaming Commission's November meetings, followed by adoption votes in December.The state Legislature, through the passage of Assembly Bill 258, mandated that Internet poker regulations be established by Jan...read more

Top-10 wish-list items for U.S. online poker regulation

Two weeks ago, the American Gaming Association began a concerted lobbying effort to push for regulation of the online poker industry in the United States. Last week, the U.S. Attorney for the Southern District of New York released an amended civil complaint accusing Full Tilt Poker’s owners of paying themselves more than $440 million over the past four years and leaving players in the lurch for $390 million.It’s been a rocky time for the online poker industry...read more

Golden Gaming gets approval for sports wagering kiosks

LAS VEGAS, Nevada -- Nevada gaming regulators decided Thursday to allow taverns owned by Golden Gaming to use high-tech sports wagering kiosks operated by bookmaker Leroy's, but will spend the next 22 months deciding whether the devices violate current gaming law. During more than two hours of back-and-forth testimony, which included several impassioned outbursts by Leroy's Chief Executive Officer Vic Salerno, the Nevada Gaming Commission voted to allow the sports wagering kiosks to operate in the taverns after it learned that 15 of the Golden Gaming businesses had been using the machines over the past two weeks. "We probably could have saved a lot of time if we had known these were already operating," gaming commissioner Randolph Townsend said before the 3-0 vote to allow Golden Gaming and Leroy's to share in the revenues from the kiosks. The licensing agreement expires in July 2013, which gives the gaming industry and regulators time to decide whether the kiosks are actually a gaming device. Gaming Commission Chairman Pete Bernhard said that if the kiosks are considered a gaming device, they might violate regulations limiting restricted gaming locations to 15 slot machines. "This doesn't make sense to me," Bernhard said...read more

Massachusetts casinos could lead to more gaming expansion

BOSTON, Massachusetts -- It appears to be a foregone conclusion that Massachusetts is gaming's next big expansion market.The state's governor and legislative leaders are on board with a bill calling for three Las Vegas-style casinos and a slot machine parlor, all located in separate geographic regions of the state, including metropolitan Boston.Opposition has gone silent.The measure sailed through the state's House of Representatives more than a week ago by a better than 4-to-1 vote...read more

Are side or bonus bets at blackjack (or other games) as bad as the gurus say?

Some table games offer side (aka bonus) bets ancillary to the primary action. These bets typically dangle the bait of rich rewards for moderate amounts at risk – often as little as $1 when the nominal table minimum may be $5, $10, $25, or more...read more

Analysis: Full Tilt Poker not really a Ponzi scheme

I don't fault Preet Bharara, the U.S. Attorney for the Southern District of New York, for using the term "Ponzi scheme" to describe the situation at Full Tilt Poker. He was looking to generate headlines for the Department of Justice's amended civil suit against the disgraced online poker room, and his efforts paid off...read more