Featured Articles Archive - Page 411

Stanley Ho gives up ownership in Macau casinos

MACAU -- Controversial Hong Kong billionaire Stanley Ho transferred nearly his entire ownership stake in his Macau casinos to family members, giving up control of the gaming operation. In a filing Monday with the Hong Kong Stock Exchange, SJM Holdings said Ho, 89, the company's chairman and chief executive officer, no longer has an "attributable interest" in the casino company. International law enforcement authorities have long alleged that Chinese organized crime triads influenced the Macau casinos operated by Ho. The billionaire, who has an estimated net worth of $3 billion, had a government granted monopoly on Macau gambling activities for almost 40 years until the Portuguese colony control was transferred to China at the end of 1999. SJM operates more than two dozen large and small Macau casinos, including the Hotel Lisboa and Grand Lisboa...read more

Top-10 reasons the new professional poker tour will succeed

Last week, news broke that a new professional poker tour was taking shape. Federated Sports + Gaming, founded by the former commissioner of the World Series of Poker, Jeffrey Pollack, and the founders of horse race wagering site YouBet.com, announced that the to-be-named tour will consist of four tournaments, followed by a $1 million freeroll "tour championship," based on the results during the first four events.While professional poker tours have been tried and talked about for years, I think this one's got a pretty good shot at success...read more

Macau authorities halt work on Caesars golf course

MACAU -- Macau authorities have halted construction by Caesars Entertainment on a private road to connect the company's golf course with one of the main roads on the Cotai Strip. MacauBusiness.com reported the action earlier this week. Caesars Entertainment, formerly known as Harrah's Entertainment, acquired the golf course in 2007 for $577.7 million, rebranding the facility as Caesars Golf Macau. Originally, the casino bought the site with hopes the Macau government would allow for additional gaming licenses beyond the original six concessions and subconcessions...read more

Duke, Pollack to lead new poker league

LAS VEGAS, Nevada -- A professional poker league that will begin play in Las Vegas this year is taking its cue from the PGA Tour.The yet-to-be-named league, the brainchild of former World Series of Poker Commissioner Jeffrey Pollack and professional poker player Annie Duke, is geared toward the big names on the professional poker circuit.Some 200 players will be invited to compete in the league's four planned nationally televised "tour stops." Entry to the league will be based on a mathematical formula driven by a player's previous poker achievements, such as major event titles, career winnings and recent success.Like golfers on the PGA Tour, the poker players will need to earn their tour card to compete in the events."We're not in competition with the World Series of Poker or the World Poker Tour," Pollack said Tuesday...read more

Arizona proposal might introduce racinos

PHOENIX, Arizona -- Nevada casinos, which have faced a challenge over the past decade by the growing Indian gaming market in California, could see competition from another neighboring state. Arizona, facing a $1 billion budget shortfall next fiscal year, could see casinos pop up at the state's racetracks. A freshman Republican lawmaker is pushing the effort, which would allow Arizona to join 12 other states with racinos...read more

Woman hits $12.8 million jackpot in Vegas

LAS VEGAS, Nevada -- An anonymous gambler hit the Megabucks jackpot Friday at CityCenter's Aria, winning almost $12.8 million.The winner had played $6 in a Megabucks slot machine at Aria when the jackpot hit. The slot machine is linked to similar slot machines in casinos throughout Nevada, which make up the Megabucks network.International Game Technology operates the Megabucks system.The Aria customer was visiting Las Vegas to celebrate her niece's birthday...read more

Pennsylvania helps lift Las Vegas Sands

LAS VEGAS, Nevada -- Investors and Wall Street have taken notice of the results coming from the casino in Bethlehem, Pa., owned by Las Vegas Sands Corp.The addition of table games in July fueled Sands Bethlehem to a 101 percent increase in gaming revenue in 2010...read more

How long must you play to hit your blackjack win goal or loss limit?

You can start a casino game and grab or drop a bundle in blink of an eye. This isn't the usual situation, however. More often, if you size your bets to your bankroll, you'll neither quickly soar to riches nor plunge to insolvency. Instead, you'll enjoy or endure an appropriately long session with the ups and downs that make casino gambling exciting. The average duration – measured in number of hands – solid citizens experience in a session depends on their exit strategies, bet sizes, and playing tactics...read more

Your mom is a game of skill

Earlier this week, the regulars in my home poker game had planned on getting together to play some cards. We get together two or three times a month to play a couple hours of dealer call games, followed by a $20 sit-and-go.Unfortunately, this week Mother Nature intervened...read more

Las Vegas Sands has largest market cap in industry

LAS VEGAS, Nevada -- Las Vegas Sands Corp. has topped a list of the world's leading gaming companies based on market capitalization. But the company's Hong Kong-based subsidiary, Sands China, which covers the company's holdings in Macau, ranked third on the list...read more