Featured Articles Archive - Page 434

Aqueduct long shot looks golden

NEW YORK, New York -- If this were a horse race, long shot Genting would have come from the back of the pack for a six-length victory with New York holding the winning ticket.Ten days ago, New York gave the subsidiary of Malaysian-based Genting, operators of Resorts World Sentosa in Singapore, the right to run a potentially lucrative casino at New York City's famous but aging Aqueduct Race Track.The award culminated a decade-long, oftentimes tumultuous, search.New York's governor and legislative leaders followed the suggestion of the state's lottery division and approved Genting, based on the company's promise to pay a $380 million licensing fee and willingness to spend $1.3 billion to upgrade Aqueduct, in New York City's borough of Queens.Genting was a surprise entry as cash-strapped New York sought an operator for 4,525 slot machinelike video lottery terminals at Aqueduct.The state has wanted to add a casino at the track since 2001...read more

How much do Buys at craps improve, paying the vig only on wins?

Buy bets on four through six and eight through 10 at craps are of two types. Most commonly by far, the house collects a "vigorish" or "vig" up-front, when players make their wagers. A few casinos, regularly or as special promotions, take the fee out of the payoff only if and when the wager wins...read more

Deal Me In: A better deal? Well, not really

Dear Mark: On a multi-line/multi-coin nickel machine, is it still considered a nickel machine in terms of payout percentage, or does it become a quarter machine payout because I'm playing more money per spin? Jason A.You would think, Jason, that when you are betting an abundant crop of nickels per spin, you should be getting at least a quarter-slot payback...read more

PokerStars pays $2 million to players affected by Chinese collusion ring

The revelation of a Chinese collusion ring on PokerStars has resulted in a decision by the world's largest Internet poker room to refund players affected by the cheaters to the tune of $2 million, according to online forum posters at twoplustwo.com.According to several threads on the forum, several Chinese players on the site were joining the same "Double or Nothing" (DoN) sit-and-go tournaments, typically at the $52 or $104 buy-in level...read more

Online gambling payment processor forfeits more than $13 million

The owner of two payment processors linked to PokerStars forfeited more than $13 million in a New York federal court Tuesday to settle a money laundering case.The money forfeited by Ahmad Khawaja's Allied Wallet and Allied Systems was originally seized by authorities last June.According to court documents, PokerStars and other online gambling companies deposited more than more than $13,335,248.91 in a bank account at Goldwater Bank held by Allied Wallet between January and May of 2009."Some of the funds deposited in the Goldwater Bank account were transferred, directly or indirectly, into seven different bank accounts held, or otherwise controlled, by Allied Wallet Inc., Allied Systems Inc., and Ahmad Khawaja," court documents said...read more

Israeli police order block of gambling sites

Israeli police have ordered Internet service providers (ISPs) to block access to overseas online gambling Web sites, according to Haaretz.com.ISPs in Israel were provided a list by police of sites and IP addresses to block. It is the first time in Israel that ISPs have been instructed by police to block sites, according to Haaretz...read more

Casino golf resorts buck economic trends

The Coeur d'Alene Tribe doesn't claim to have all the answers. But it does know one thing for sure. The procedures and strategies put in place before the recession at the Coeur d'Alene Casino Resort in Idaho have paid off handsomely.For proof, take a look at Circling Raven Golf Club, the highly acclaimed amenity of the resort whose tee sheet has been filled to near capacity all summer...read more

Station Casinos suffers $69.6 million net loss

LAS VEGAS, Nevada -- Station Casinos suffered a $69.6 million net loss in the second quarter as revenues in the locals gaming market continued to tumble. The company, which took a major step earlier this month toward emerging from bankruptcy with all its properties intact, said Monday the loss for the quarter that ended June 30 was a 6 percent decline compared with a $65.3 million net loss a year ago. Station Casinos' total revenues in the quarter were $233.6 million, a 12.6 percent decrease compared with $267.2 million in the same period a year ago. Gaming analysts have said the Las Vegas locals market, where Station Casinos predominately operates, will have a slower economic recovery than the Strip...read more

Nevada resort might face sale

HENDERSON, Nevada -- The future ownership of the 17-month-old M Resort is unclear after the bank controlling $700 million of the hotel-casino's debt put its stake up for a private auction sale last month.Sources confirmed that Lloyds Banking Group, which includes the Bank of Scotland, had Blackstone Group, a global investment firm, solicit bids for the ownership of the 390-room M Resort...read more

Top-10 things to do in Atlantic City

I was in Atlantic City last weekend with five friends for a bachelor party. It was just my second visit; during the first I had only spent a few hours there. We had a good time entertaining Todd (the man of honor and a regular in the Casino City Home Game), and despite some rather grim reports about the performance of the Atlantic City casinos in recent months, the places we visited were packed with people.Based on my own experience in Atlantic City, here are my top-10 things to do while visiting "America's Playground."10...read more