Featured Articles Archive - Page 412

Ten reasons Christie should sign the N.J. online gambling bill

The New Jersey legislature sent a bill that would regulate intrastate Internet gambling to Governor Chris Christie's desk last week, and the only obstacle keeping it from becoming law is the possibility of the governor's veto. Last week, Casino City Managing Editor Vin Narayanan laid out all the reasons Christie might choose to veto the bill — which passed by veto-proof margins in both the Assembly and the Senate...read more

eWalletXpress admits funds were seized by U.S.

Since last November, U.S. customers of eWalletXpress, an online e-wallet that had become a popular way to transfer funds to and from Internet casinos, poker rooms and sportsbooks, have been unable to use the service. Rumors abounded that federal authorities had seized the funds, but inquiries to customer service agents led to vague responses that funds were not available due to a "technical issue." On Monday, eWalletXpress finally admitted to its customers that the rumors were in fact true...read more

If the casino has an edge, why is video poker so popular?

Video poker games commonly give the house edges between roughly 2.5 and 5 percent – or, stated optimistically – offer players about 97.5 to 95 percent return. Euphemisms aside, the figures show that, on the average, funds flow freely from bettors' bankrolls to casinos' coffers. Some people won't gamble in casinos at all – and wouldn't, even if the joints had no advantage...read more

Shuffle Master Gaming suffers slight drop in earnings

LAS VEGAS, Nevada -- A one-time charge to settle a lawsuit kept table game manufacturer Shuffle Master Gaming from increasing its fourth-quarter earnings. The Las Vegas-based company said Thursday its net income for the quarter ended Oct...read more

Deal Me In: Share and share alike

Dear Mark: I need your help to clarify a hand of Texas Hold'em to settle a discussion. The Board: (4, 9, 9, jack, queen), Hand one: (8, 9) Hand two: (6, 9).Which cards are used to break the tie of trip 9s, the kicker in each hand, or is the hand a tie based on the common Jack and Queen? James S.Every player's final hand, James, is made up of five cards and five cards only...read more

Pinnacle Entertainment to acquire Ohio racetrack

CINCINNATI, Ohio -- The Ohio State Racing Commission approved plans Thursday by Pinnacle Entertainment to acquire the River Downs Racetrack in southeast Cincinnati by the end of this month.Las Vegas-based Pinnacle, a regional casino operator, said it would fund the $45 million acquisition through a...read more

Illinois lawmakers kill gaming expansion

SPRINGFIELD, Illinois -- Illinois lawmakers, earlier this week, ended any chances of meaningful gaming expansion in the Midwest state. A bill that would have permitted five new casinos and would have allowed for slot machines to be installed at racetracks and at the Chicago area airports, died during a special legislative session without any action being taken. The bill would have also allowed existing riverboat gaming operators to expand their footprints over time. The casino and racetrack expansion bill would have added roughly 28,000 slot machines and table games to a market that currently has some 11,700 gambling devices. Analysts said the bill's death removes Illinois from the gaming expansion landscape. "In our view, it is highly unlikely that any new gaming expansion proposals will gain traction in the legislature for the next two years," said Union Gaming Group Principal Bill Lerner. Added Wells Fargo Securities gaming analyst Carlo Santarelli, "The opportunity for slot manufacturers would have been significant." Illinois is still looking at rolling out 40,000 video lottery terminals around the state at bars and taverns during the last half of the year...read more

Nevada gaming revenues drop six percent in November

LAS VEGAS, Nevada -- Hope you enjoyed it while it lasted. Statewide gaming revenues fell almost 6 percent in November, ending a three-month rally by Nevada casinos. On the Strip, gaming revenues declined 4.1 percent, which halted four straight months of either increases or flat results. Analysts, however, quickly wrote off the November numbers, chalking up the results to declines in volume, revenue and hold percentage for baccarat. The focus was immediately trained on December, which is expected to close out 2010 on an upbeat note as casinos could benefit from a strong New Year's Eve holiday. "Strip results came in exactly within our expectations and (we) believe the seasonally important December results will likely show a solid year-over-year gain," JP Morgan gaming analyst Joe Greff told investors. Stifel Nicolaus Capital Markets gaming analyst Steven Wieczynski also focused on December, where New Year's Eve is expected to fuel higher than anticipated occupancy rates and play levels for the final two weeks of 2010. "While Strip (comparisons) turned negative for the first time since June of 2010, we believe today's results simply reflect a minor bump along the road to a broader Las Vegas recovery," Wieczynski told investors...read more

News analysis: Presidential politics could affect New Jersey's online gambling legislation

New Jersey made history Monday when its legislature became the first American legislative body to approve licensed and regulated online gambling in the United States. If Gov. Chris Christie signs the bill into law, New Jersey will become the first state to license and regulate online gambling in the U.S. Christie has 45 days to either sign the bill into law or veto it...read more

How does the casino get its edge on the bets you make?

Most folks you might ask, civilians you encounter in the real world as well as solid citizens you meet in the casino, think the bosses get their edge by winning more bets than they lose. Astute players can readily identify propositions they have a greater chance to win than lose, however...read more