Featured Articles Archive - Page 526

Deal Me In: Player's recall might be slightly off

Dear Mark: I like to play video blackjack on 25-cent machines. Do you know if these machines are dealt randomly from a deck of 52 or are they "fixed" to give me fewer blackjacks? It seems I never get my fair share of blackjacks compared to a table game, nor seem to win as much...read more

Pinnacle Sports stops offering North American horse races

Offshore bookmaker Pinnacle Sports decided to suspend betting on North American horse racing earlier this week. The company put a statement on the "Horse Betting" portion of its Web site that said it "finds itself in a position where we are unable to offer horse racing to our satisfaction." The sportsbook added that the "declining interest of clients in racing in general has prompted us to discontinue wagering on daily North American horse racing with immediate effect." Pinnacle Sports, which also offers poker and an online casino, assured customers that their range of sports betting markets and casino games will still be available...read more

Playing It Smart: Are hedges a sensible form of gambling insurance?

In some casino games, you can hedge bets by wagering on opposite sides of the same proposition. It's like a fee that lowers the net profit of wins, in return for cutting or eliminating costs of losses. Players who like hedges view them as insurance against big setbacks...read more

Heard it on the river: Casino smoking bans hurt constituents

Down in the Delta, Rep. JOHN MAYO, D-Clarksdale, works for a district that has 10 casinos in it and for nearly 9 years now he has been for a statewide smoking ban. While it is documented in other states with legal gambling that such a ban has helped cause declining revenues, Mayo says he "not completely oblivious to what (a smoking ban) would do." His quotes appeared in an article in the Commercial Appeal by Phil West...read more

Ruffin itching to get back on Strip

LAS VEGAS, Nevada -- Phil Ruffin said he was bored. The Wichita, Kan., businessman, who sold the now demolished New Frontier 19 months ago for $1.2 billion, had an itch to get back into the casino business. It took him just three weeks to negotiate a $775 million purchase of Treasure Island from MGM Mirage...read more

Treasure Island deal set

LAS VEGAS, Nevada -- Former New Frontier owner Phil Ruffin is buying the Treasure Island from MGM Mirage for $775 million, sources confirmed Sunday night. The deal is expected to be announced today. Ruffin, a Wichita, Kan., businessman, sold the New Frontier in May 2007 for more than $1.24 billion to Elad Group...read more

Top-10 Most Fascinating (Poker) People of 2008

Barbara Walters has got nothing on me. Well, except maybe for about 40 years in age, a couple $100 million in net worth and three ex-spouses, but those are simply minor details. What I'm referring to is when it comes to presenting a list of fascinating people, Ms...read more

Deal Me In: Finders Keepers?

Dear Mark: Thanks for sharing your great insights about gambling in the casinos. Reading your material quells lots of myths about how slot machines react to gamblers. My question is, are there general casino rules concerning money that a customer finds left on a slot machine, or if when the Player's Club card is inserted a voucher prints out with money on it? Can the customer keep the findings? Grady K. According to them, and we all know who them is, 'taint yours. "Sea gulling," i.e...read more

LV Sands to lay off more than 200

LAS VEGAS, Nevada -- Las Vegas Sands Corp. plans to lay off 216 workers from the Venetian and Palazzo resorts today, a company spokesman confirmed late Thursday evening. The job reductions, part of an overall effort by the financially troubled gaming company, will cover about 2 percent of the casinos' 10,000-employee work force, Las Vegas Sands spokesman Ron Reese said. During Las Vegas Sands' third-quarter earnings conference call in November, Executive Vice President Rob Goldstein said the casino operator began "an extensive cost-cutting program" during the quarter that was targeting $100 million in reductions. Goldstein said the company was reducing its work force and changing various programs, policies and procedures. "The cumulative result will end up in the second quarter of (2009 and) will be about $100 million of cost savings," Goldstein at the time...read more

Nevada gaming revenue takes huge fall

LAS VEGAS, Nevada -- It just went from bad to worse. Nevada gaming revenues tumbled 22.3 percent in October, the single largest monthly drop in state history and the 10th straight month gaming revenues have fallen in the Silver State. For the year, gaming revenues are down 8.3 percent statewide. Casinos statewide won just under $905 million during October, compared with $1.165 billion in October 2007, according to figures released Wednesday by the Gaming Control Board...read more