Featured Articles Archive - Page 508

Draft of California online poker bill leaked

As has been rumored for months, California is once again considering whether or not to introduce legislation that would regulate online poker in the Golden State. But the big mystery right now who is doing the considering. A piece of draft legislation dated Jan...read more

Playing It Smart: Explaining the house edge in double-zero roulette

Most big casinos have a "single-zero" ("European") roulette table or two, along with a cluster of "double-zero" ("American") games. Minimum wagers are usually higher on the single-zero version but edge is less by a factor of nearly two (an exception will be cited later)...read more

Frank to introduce online gambling bill next week

Rep. Barney Frank told the Reuters Global Financial Regulation Summit on Tuesday that he would introduce legislation designed to repeal the UIGEA next week. "We'll be introducing it next week and I plan to move on it," Frank said according to a Reuters report on the story...read more

Pinnacle could close Reno casino

LAS VEGAS, Nevada -- Pinnacle Entertainment might close its Reno-area casino unless the property starts turning a profit. During the company's first-quarter earnings conference call Friday, Pinnacle Chairman and Chief Executive Officer Dan Lee, in response to a question about a quarterly loss at Boomtown Reno, said he would rather close the property than lose money on an annual basis. Boomtown Reno is the only Nevada casino that Las Vegas-based Pinnacle operates. "I don't want to close it," Lee said of the 318-room Western-themed hotel casino...read more

LV Sands might sell Macau casino

LAS VEGAS, Nevada -- Las Vegas Sands Corp. may be considering selling its Sands Macau but would still operate the casino on a lease-back agreement. The South China Morning Post in Hong Kong cited unnamed sources in a report Monday but didn't name a buyer...read more

Gambling and the Law: Jackpot for a Casino Thanks to Great Lawyering

Legal gambling can be one of most profitable businesses around. Take for example Penn National Gaming. The company owns four Argosy and four Hollywood casinos; manages the 200,000 square foot Rama Casino in Canada; owns three other casinos, including the Empress Joliet; operates telephone and internet wagering on races, and owns nearly a dozen OTB facilities and racetracks, some with slot machines, including Penn National Race Course...read more

ESPN only airing two WSOP bracelet events

This year's World Series of Poker has 57 events. But you'll only get to see two of them on TV. ESPN's newly released TV schedule for the 2009 WSOP includes coverage of the Main Event, a special $40,000 buy-in No-Limit Hold'em tournament to celebrate the WSOP's 40th anniversary and two non-bracelet events -- the Ante up for Africa charity tournament and the WSOP Champions Invitational...read more

Top-10 tidbits from the 2009 WSOP Media Guide

Believe it or not, cards go in the air for the 2009 World Series of Poker in just 31 days. And in anticipation of the biggest poker event of the calendar year, the crack WSOP media relations staff released its 45-page Media Guide last week...read more

Murren earned more than $3 million in 2008

LAS VEGAS, Nevada -- MGM Mirage Chairman and Chief Executive Officer Jim Murren earned more than $3 million in pay during 2008, roughly $5.4 million less than he was compensated in 2007, according a company filing with the Securities and Exchange Commission late Friday. Murren, who replaced Terry Lanni in those positions in November, was recently given a new employment agreement that expires in 2013 almost with a raise of $500,000...read more

Pinnacle beats analysts' expectations

LAS VEGAS, Nevada -- A day after Penn National Gaming blew away earnings projections, Pinnacle Entertainment backed up Wall Street's thesis that regional gaming markets are showing small signs of recovery. Pinnacle, which is based in Las Vegas but operates primarily in the South and Midwest, beat analysts' expectations Friday when the company announced its first-quarter earnings. The casino operator, which owns Boomtown in Reno, reported a net income of $900,000 in the quarter ended March 31, or earnings of 2 cents per share...read more