Featured Articles Archive - Page 389

Nevada regulators approve Caesars, 888 relationship

LAS VEGAS, Nevada -- Nevada gaming regulators said Wednesday they weren't passing judgment on the legality of Internet gaming in the United States when they tentatively approved the business relationship between Caesars Entertainment Corp. and online gaming provider 888 Holdings. The Gaming Control Board unanimously found that the arrangement between the companies was suitable under Nevada's Foreign Gaming Act following a hearing that lasted more than two hours. If the Nevada Gaming Commission agrees with the decision, it would be the first deal ever approved between a state-licensed gaming company and a foreign-based Internet gaming operator. "What we're doing today is looking at the suitability of a business relationship," control board member A.G...read more

Moneymaker happy to be back in spotlight

LAS VEGAS, Nevada -- Without Chris Moneymaker, there wouldn't be a National Heads-Up Poker Championship.For that matter, if it wasn't for Moneymaker we might not even be talking about poker.His story has become legend.Moneymaker, an unknown Tennessee accountant, won a $39 satellite tournament on the Internet gambling site PokerStars in 2003...read more

Tax ruling benefits gamblers

LAS VEGAS, Nevada -- Professional gamblers are now able to deduct business expenses incurred as part of their job.The catch, however, is determining what constitutes a professional gambler.A January ruling by the U.S. Tax Court changed a portion of a half-century-old opinion that equated expenses related to a gambling trip with gambling losses -- they were deductible only to the extent of their winnings.The court now believes the expenses to reach a casino or racetrack, and other expenses associated with the activity of gambling, can be written off.The ruling, experts say, was a victory for gamblers."On the whole, gamblers are probably celebrating," said Steve Johnson, a professor at the University of Nevada, Las Vegas Boyd School of Law who has an expertise in tax law...read more

Top-10 college basketball future and prop bets

Bracket fever has finally arrived. It doesn’t matter if you’re a college basketball diehard or someone who can’t tell the difference between Jared Sullinger and J. D. Salinger. You will fill out a bracket. You will watch every game possible...read more

Analyst says earthquake won't affect Macau, Singapore

LAS VEGAS, Nevada -- A Wall Street researcher attempted to temper investors’ concerns surrounding how the tragic events last week in Japan might fall over into Macau and Singapore. Wells Fargo Securities gaming analyst Carlo Santarelli said the impact surrounding Japan’s horrific earthquake and tsunami shouldn’t be felt by gaming operations in Asia. In Macau, roughly 2 percent of visitation to the market comes from Japan...read more

Former Gaming Control Board member a PokerStars consultant

LAS VEGAS, Nevada -- Former Gaming Control Board member Randall Sayre wasn't at the Sawyer Building last week to critique his former employer.He was there to learn.Sayre watched intently from a corner of the packed hearing room as regulators said a deal between Caesars Entertainment Corp...read more

Sahara casino to shut down in May

LAS VEGAS, Nevada -- Michael McClendon, a poker room supervisor at the Sahara Hotel and Casino, wasn't surprised when he was called into a meeting at 7:30 a.m. with other employees and was told the nearly 60-year-old Strip resort would cease operations in May.McClendon, who recently celebrated 25 years at the casino, said the announcement Friday shouldn't have been unexpected.The Sahara ownership had made several cuts and other changes at the 1,720-room hotel-casino since taking over in 2007 in an effort to survive the recession."It's hard because we have a lot of people who have been here for a long time," said McClendon, 66, who plans to retire when the north Strip resort closes on May 16...read more

How do higher Odds multiples affect your chances at craps?

Proficient craps players know that taking or laying odds behind their Pass and Come or Don't Pass and Don't Come bets reduces the overall edge the casino has on the dough at risk. The reason is that the house gets 1.4 percent on the flat portions of the bets and nothing on the Odds...read more

Controversy overshadows record-setting PokerStars Sunday Million

PokerStars didn't have long to celebrate its record $11.8 million prize pool in the Sunday Million, with controversy erupting over sixth-place finisher 'zeurr.' 'zeurr' officially finished in sixth place, but claimed $518,204, the fourth-highest payout in the event, thanks to a nine-way deal made prior to the start of play at the final table.But a Dutch newspaper is reporting that 'zeurr' is actually 17-year-old Jimmy Jonker...read more

Deal Me In: Clanking of coins silenced

Dear Mark: Where I play, the slots machines only allow for a cash insert and ticket play. Do slots now play less when they changed over from coins to tickets? Mary G.Termed TITO, Mary, which is gamblese for ticket-in ticket-out technology that pays players in bar-coded tickets, is a voucher system developed by International Game Technology that has replaced coin-based models...read more