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March 9, 2015

Casino City Times Weekly Newsletter
March 9, 2015

Latest From Our Strategy Experts

arrowJohn Grochowski: It is what meets the eye

It is what meets the eye
Gaming guru John Grochowski explains the reasoning behind how slot machine bonuses are calculated and marketed. According to Grochowski, it's all about keeping the player on the edge of their seat.  read more
 

Featured Story

IRS suggests dropping casino winnings threshold to $600

By Howard Stutz
The Internal Revenue Service may lower the reporting level from $1,200 to $600 for casino customers who win at slot machines, keno and bingo, a change that gaming and legal advocates say is not needed and only adds more paperwork to an overly regulated industry.  read more		IRS suggests dropping casino winnings threshold to $600
 

CASINO News

CASINO

Macau revenues fall a record 49 percent

The Chinese casino market suffered its worst single month gaming revenue decline on record in February, marking Macau's ninth straight monthly drop.  read more

Key figure in illegal World Cup bets sentenced to probation

Darren Phua, son of wealthy Malaysian businessman Paul Phua, was sentenced to five years of unsupervised probation on condition he stay out of the United States during that period.  read more

Elaine Wynn: Removal from board 'extraordinarily disappointing'

In their 2010 divorce, Elaine and Steve Wynn split their ownership in the casino company, each receiving more than 11 million shares.  read more

Nevada judge considers sanctions against Sands China

District Judge Elizabeth Gonzalez is mulling what, if any, sanctions to impose on Sands China for redacting personal information from documents the company produced out of Macau in Jan. 2013.  read more

Wynn adding two more acres to Boston-area casino site

The company says it closed on a 1.75-acre site that was purchased from the Massachusetts Bay Transportation Authority for $6 million.  read more

Century Gaming wary of proposed new Nevada slot machine tax

Nevada Gov. Brian Sandoval's $1.1 billion tax package to fund education and other services includes a new slot machine tax on restricted gaming license holders with more than 500 machines or revenue of $10 million or more.  read more

Wynn to rake in $511 million dividend from Macau subsidiary

Wynn Resorts owns 72.3 percent of Wynn Macau, which announced it will pay a dividend of $706 million to stockholders on March 31.  read more

Stutz: REIT concept could happen for MGM Resorts

MGM Resorts CEO Jim Murren said last month that his company had no plans to split its properties into a real estate investment trust, but he didn't dismiss the idea outright.  read more

Fahrenkopf joins mobile gaming company

Former American Gaming Association CEO Frank Fahrenkopf Jr. has joined San Jose, Calif.-based Joingo as a strategic adviser.  read more

SLOTS News

SLOTS

IGT name a valued asset acquired by GTECH

At last week's Nevada gaming regulatory hearing, GTECH revealed the merged company will be known as IGT when the $6.4 billion buyout closes in April.  read more

The Reel Life: Fajita to the face edition

A New Jersey man unsuccessfully tried to sue Applebee's after he leaned down to pray for his food and wound up with a plate of fajitas in his lap.  read more

POKER News

POKER

PokerStars launches 'EPT Not Live' podcast

The weekly show will be hosted by EPTLive commentators James Hartigan and Joe Stapleton, going behind the scenes at live events, interviewing celebrities, Team PokerStars Pros and online qualifiers.  read more

Did You Know
Did You Know?
After temporarily shutting down on Feb. 11 following a raid by the Nevada Gaming Commission, Bitcoin online poker site Seals With Clubs relaunched last week under the brand name SwC Poker.
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Gladiator Wars
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