Featured Articles Archive - Page 423

Top-10 hurdles facing U.S. online gambling legislation

10. Moralists The universe of people in the United States who oppose gambling on moral grounds is shrinking. In 2009, 37 states had some form of legalized gambling (excluding lotteries) according to the American Gaming Association's 2010 State of the States report...read more

Shares of gaming companies dive in July

LAS VEGAS, Nevada -- The gaming industry might want to forget about July. The average daily stock prices of casino operators and slot machine manufacturers all tumbled during the month with seven of the 10 companies followed by Las Vegas-based financial consultant Applied Analysis showing double-digit declines. Las Vegas Sands Corp...read more

Is reversing Atlantic City's fate possible?

ATLANTIC CITY, New Jersey -- New Jersey Gov. Chris Christie has proposed a slate of reforms to revitalize Atlantic City.One idea is a state takeover of Atlantic City's gaming and tourism district, removing the Boardwalk and adjoining areas from city stewardship...read more

Which is preferable, big bets or small?

Say you want to win big at a casino, starting with a bankroll you consider realistic. Assume you're willing to go for broke, bag the bonanza or bust out trying. There are two basic approaches. You can strike it rich betting low at games with high payoffs, like the slots or tables with bonus side action...read more

Deal Me In: The right to resign Scowlee status

Dear Mark: Why is it that every time I get a few dollars ahead in blackjack, the pit boss stands over the game and watches my play? Jeff K. Fair enough, Fred: Yes, there are some pit bosses who stand guard over a blackjack table like the German Shepherd in front of Col...read more

Pinnacle reports $49 million loss in second quarter

LAS VEGAS, Nevada -- Pinnacle Entertainment lost $49.3 million in the second quarter despite a jump in revenues following the opening of a suburban casino in St. Louis.The Las Vegas-based company, which primarily operates in regional markets, said its results for the three months that ended June 30 were hurt by write-downs and other charges of $31.5 million...read more

Wynn net income improves thanks to Macau

LAS VEGAS, Nevada -- Wynn Resorts Ltd. benefited from a robust second quarter at the company's casinos in Macau to offset losses on the Strip. The Las Vegas-based casino operator reported net income of $52.4 million, or 42 cents per share, for the three month-period that ended June 30...read more

Casino industry outlook still uncertain

LAS VEGAS, Nevada -- Double-digit declines in monthly state gaming revenues have dissipated in the first half of 2010, but a national credit and bond rating service isn't ready to say the financial health of the American casino industry is on the path to recovery. In a report on U.S...read more

Wynn slams Obama adminstration again

LAS VEGAS, Nevada -- "Steve Wynn the Political Pundit" resurfaced Thursday. During the Wynn Resorts Ltd. second quarter earnings conference call, company chairman Steve Wynn said he isn't thrilled with the current direction of the U.S. economy. Wynn has been the gaming industry's most vocal critic of President Barack Obama and his administration's policies for much of the past year. "The national economy and the political environment in the country as we head up to the elections (are) very, very touchy...read more

PartyGaming and bwin announce merger

After months of speculation, bwin and PartyGaming have announced that they will merge to form the world's largest publicly traded online gambling company.Bloomberg News valued the deal at $1.76 billion.The combined entity will be owned by PartyGaming and bwin shareholders, with PartyGaming shares equaling 48.4 percent of the company and bwin shares equaling 51.6 percent of the company.The two companies have always been seen as a natural fit, with bwin's strong sportsbook fitting in nicely with PartyGaming's strong poker and casino offerings.The newly merged company will be incorporated in Gibraltar and run by bwin co-CEO Norbert Teufelberger and PartyGaming CEO Jim Ryan.The merger will have to be approved by 75 percent of both bwin and PartyGaming shareholders at shareholder meetings in the first quarter of 2011...read more