Commentaries

SALT LAKE CITY — The Salt Lake Tribune's pending sale to the wealthy Huntsman family unshackles the newspaper from cost-cutting corporate owners and resolves crippling financial uncertainty — but it also raises concerns about whether the influential family will meddle in the paper's coverage. The same question has come up after other recent newspaper purchases by millionaires — an emerging … [Read more...]

When I explain to folks how long I have lived in Las Vegas, I tell them, “I have lived here as long as the Stratosphere.” True. I moved to Las Vegas from Redding, Calif., the weekend of April 30, 1996. I was living temporarily (aren’t we all?) in an apartment on West Sahara Avenue, and the first day I woke up, the new hotel was practically casting a shadow over my new dwelling. “This is … [Read more...]

Showered with boos on a rain-soaked weekend in Chicago, Roger Goodell told the draft crowd to “bring it on” in a rare show of his sense of humor. The NFL commissioner knows he’s unpopular, and he’s embracing the hate. Maybe someday Goodell will be forced to embrace Las Vegas, a gambling mecca that he always has viewed with an evil eye. The story of the Raiders and owner Mark Davis’ … [Read more...]

Even at my advanced age (joking!) I still remember kindergarten. Miss Mauter (4’6” high – perfect for her job) taught us how to count, memorize our ABCs, tie our shoes, and do simple math. One thing she did not teach us was that 1+1+1=10, despite the attempts of many people to prove that very equation. A few days ago WalletHub (a consumer-finance website) released a study entitled “2016’s Most … [Read more...]

The Las Vegas Convention and Visitors Authority recently released its 2015 visitor profile study. This report, based on interviews with Vegas visitors, charts the behavioral and demographic shifts in the population of those who come to town. The results for this year raise more questions than they answer. By this point, the most shopworn truism about Southern Nevada tourism is that people no … [Read more...]

LAS VEGAS (AP) - This is a town built on taking money from people, not giving it to them. But when the NFL comes calling, all bets may be off. What seemed unimaginable just a few months ago may no longer be such a stretch. Pair one of the world's richest men with a team eager to escape Oakland and, who knows, even the most hardcore NFL owners might be persuaded to give this gambling city a … [Read more...]

Would a casino in a small desert town in California offend God?  Some appear to think it would.  At a public meeting on the casino project, Pastor Wayne Porter posed this question: “Do we want to risk the displeasure of God for $395,000 a year?”  To me it seems highly unlikely that a tiny casino in a tiny town would be a concern for the ruler of the entire universe.  But, what do I … [Read more...]

“Pulling out a camera on some people is like pulling out a loaded gun,” our newspaper’s photographer told me two decades ago. The location? We were covering a county fair. So I totally understand the reactions of some patrons to cameras at a casino. They don’t want their loved ones to know they are gamblers. Or, worse, they fear being robbed because they may be (thought to be) carrying more … [Read more...]

Washington, DC - American Gaming Association (AGA) President and CEO Geoff Freeman released the following after Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery announced her departure from the agency: “We’ve appreciated the chance to work with Director Shasky Calvery and commend her leadership in protecting the U.S. financial system from illicit activity. As FATF … [Read more...]

Casinos of the not-too-distant future will offer many more ways for people to place their bets, says an executive for a national consulting company. In addition to tried-and-true slots and table games, gamblers will be able to test their luck at skill-based machines that allow them to influence the outcome, to gather in lounge-like sports books to track the action of their favorite teams or … [Read more...]

The week of the opening of Red Rock Resort in April 2006, I toured the property with the president of the hotel, Scott Kreeger. I recall him being especially responsive to my questions about Rocks Lounge, Cherry nightclub and the new sports book. Kreeger said I would be spending a lot of time at the hotel, and he was right. Over the past decade, I’ve made Red Rock Resort a fairly regular stop, … [Read more...]

As the United States nears 25 years with a federal law that has driven trillions of dollars in sports betting to the black market, experts from around the globe gathered at a standing-room-only event on Capitol Hill Wednesday to discuss the threat unregulated gambling poses to the integrity of professional and amateur sports and possible ways to strengthen the law. Led by the American Gaming … [Read more...]

Among the many weighty questions that Russia's government has struggled with in recent months -- of war and peace, budget cuts and sanctions -- is this one: Is poker a game of skill or chance? The answer is far from trivial. It will go a long way to determining whether Russia can legalize online poker, and so bring the craze for the game which has swept the nation in recent years within reach … [Read more...]

Thank you. I’m proud to be here today representing the American Gaming Association. Protecting the integrity of games is vital to sports leagues, professional athletes and fans everywhere. As sports betting explodes in popularity, this mission is growing even more urgent. Companies like Genius Sports are harnessing the power of data analytics to track patterns in wagering. They provide leagues, … [Read more...]

In May, the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade will hold hearings on fantasy sports.  The topic hit the national consciousness last September when FanDuel and DraftKings spent hundreds of millions of dollars advertising their product on Monday Night Football.  It ranks as one of the most debated subjects thus far in 2016.  So it is not surprising that … [Read more...]

The careworn and condemned Riviera, which opened on this day in 1955, has been called many things over the years. But I’ll wager “a hotbed of Strip history worth preserving” is well down the list. Worth fumigating, yes. But worth saving from a demolition crew? Officially, the Riviera’s historical value is what has motivated Kelden Engel, described in published reports as a Nevada State … [Read more...]

There are some things that state legislatures can do reasonably well, including hammering out budgets and passing bills to address general issues faced by a state. But setting slot rules, issuing casino licenses, and deciding on gambling protocols should be left to those with a longtime background in such matters, argues State Senator Maria Sachs, D-Delray Beach. In four of the past five years, … [Read more...]

As it marks the one-year anniversary of its fight against illegal gambling, the American Gaming Association (AGA) announced that it will host a major law enforcement summit in June to further strengthen the partnership between the gaming industry and all elements of the law enforcement community. AGA also launched a new website – StopIllegalGambling.org – to serve as an information hub. The … [Read more...]

It was a conversation about a new show, to be called “Steve Wynn’s Showstoppers.” But as is the case with so many conversations with Wynn, this one required every club in the bag. It was Halloween 2014 at Wynn’s office at Wynn Las Vegas. He was happily talking about this new show at Encore Theater, but he answered to speculation about plans for the famous Wynn Golf Club golf course behind Wynn … [Read more...]

The Orleans is going after a new crowd — or a bigger one, at least. That should be apparent to guests who step inside the off-Strip casino these days. Standing out from the usual New Orleans-themed trappings and standard storefronts are two restaurants that recently debuted. Their stylish, modern decor and trendy food instantly set them apart. Ondori Asian Kitchen and Alder & Birch … [Read more...]

Plans for a domed 65,000-seat football stadium near McCarran International Airport likely will not be derailed by conflicts over the facility’s height, according to a consultant’s analysis presented publicly today. A map shown to the UNLV Campus Improvement Authority indicated that, at least for much of the 42-acre site proposed to house the stadium, the facility’s height would not obstruct … [Read more...]

I read with interest your recent opinion in CDC on the status of expanded gaming in Massachusetts. I would like to request a correction on factual inaccuracies to clarify misinformation provided to your readers. As noted in your article, the Commission is looking forward to the launch of a new pilot program developed as part of our comprehensive responsible gaming strategy. The PlayMyWay system … [Read more...]

No one in the gaming industry is as entertaining as Steve Wynn.   He may fly below the radar for short periods of time, but then he bursts out with an announcement of something startlingly new and different.  Just when it seems Wynn has his hands full with his ex-wife, building a casino in Boston and construction delays in Macau, Steve surprises us again.  Wynn is going to build a new resort in … [Read more...]

The Moulin Rouge was one of the shortest-lived—and historic—casinos in Las Vegas. Doubly significant for its role in the history of civil rights in the Valley, the property’s deterioration created both a physical and spiritual blight on the surrounding Westside community, as a series of redevelopment plans came to naught. But a new ownership group with strong ties to the community insists that the … [Read more...]

South Floridians are among the nation’s most impulsive, impatient people, whose frustrations include crowded highways and the cacophony of multiple languages in malls and restaurants. That impatience shows up in casino card rooms. The region is likely the high hand poker capital of the world, with rooms often awarding $500 for the player who has the best hand during a 30-minute period – overall … [Read more...]

Educating elected officials and other stakeholders about today’s gaming industry is as important as ever after Pennsylvania Governor Tom Wolf proposed levying an eight percent tax on free play. AGA promptly replied with a letter to the Governor, saying that “taxing promotional credits would likely lead to a decrease in tax revenue from casinos – the exact opposite of the intended result." Further, … [Read more...]

Not so long ago, few people thought you'd ever be able to place a legal bet on the Steelers, Penguins, Pirates or other teams at an American sports book outside Nevada. Times and attitudes can change quickly. The president and CEO of the American Gaming Association predicted last week in Pittsburgh that sports betting will be legal across the country in three to five years. “The next … [Read more...]

You’ve heard the hype. The 20,000-seat T-Mobile Arena will draw better shows, bigger convention groups and maybe even an NHL team. Fittingly, the copper-clad arena adjacent to New York-New York and the Monte Carlo is an in-the-moment, Vegas-style showplace, which demands more than just seats with good sightlines and a solid lineup of shows: It combines luxe with modern hospitality. The arena’s 44 … [Read more...]

The timing couldn’t be worse for Steve Wynn. The Wynn Resorts Chairman and CEO on Wednesday announced a lofty, 1,000-room, $1.5 billion expansion plan for his local resort-casino. It would feature a 38-acre lake, so at least we know the drought is over. Wynn is also embroiled in a nasty battle with ex-wife Elaine Wynn over control of her nearly 10 percent of the company. Thanks to a court … [Read more...]

Nebraska is the latest state to discuss the expansion of gaming. It is in the process of establishing a renewed public policy regarding gambling. Whether it will be “good” public policy or “bad” policy remains to be seen.  The facts are pretty straightforward. The Winnebago Tribe of Nebraska would like to build a casino at a race track in South Sioux City. The tribe’s economic development arm, … [Read more...]

Nevada’s largest cab company, Yellow-Checker-Star, in early 2014 hired me to drive a cab, and the Nevada Taxicab Authority issued me the placard to do so. Whether or not they regret those decisions now, I do not know. But I drove a cab for five weeks, from 1 a.m. to 1 p.m., after freelance work dried up during a slow holiday season, and before I landed my current job covering the Nevada … [Read more...]

Historians have noted the disdain with which gambling has been viewed in Massachusetts, all the way back to the Puritans of the 1600s, who banned cards and dice. Those documenting today’s events have plenty of similar facts to record. Despite public votes supporting gambling, anti-gambling sentiment has managed to keep the state well behind its neighbors – and Massachusetts residents may have lots … [Read more...]

The document is heavily redacted, but the message is clear. Elaine Wynn is trying to raise the stakes in her battle with ex-husband Steve Wynn over control of her share of Wynn Resorts Ltd. Attorneys for Elaine Wynn late Monday filed a redacted version of her motion for approval to file a fifth amended counterclaim and crossclaim in her attempt to pry loose her 9.2-percent ownership interest in … [Read more...]

The Pac-12 men’s college basketball tournament was a bloodbath for most of its participants. Stanford and Washington State got crushed in the first round on March 9. In the March 12 title game, Utah was slaughtered in a 31-point loss to conference champion Oregon. But perhaps the biggest loser that second weekend in March was the tournament’s host site, the MGM Grand Garden. Before the … [Read more...]

The same week he selected his nominee for the Supreme Court, President Barack Obama filled out his March Madness bracket in a nationally broadcast event that has become an annual White House tradition over the last eight years. The President’s bracket is just one of 70 million that were completed by more than 40 million Americans this year, and the number of brackets completed is more than the … [Read more...]

The big day is finally arriving! On Wednesday, MGM Resorts International and Anschutz Entertainment Group open the T-Mobile Arena with a concert by The Killers. We all know what that means: higher numbers of clueless people trying to find their way around; incessant whining about having to pay for parking; more idle threats from people who say they will never patronize MGM again — until, of … [Read more...]

Not much has changed in Macau, not in a year or even two years.  The only difference I see reading the region’s English language media is an increase in coded messages from mainland China and the Chinese Communist Party.  The messages hint at a different kind of future for casinos in Macau.  The casino news remains the same, revenues are on a downward trend due to the loss of VIP gamblers caught … [Read more...]

In the throes of March Madness, sports betting is just about omni-present in Las Vegas. States across the nation are legalizing daily fantasy sports. Locally, speculation about possible NHL tenants of the T-Mobile Arena or the wisdom of building a UNLV stadium that may host an NFL team is dominating much conversation. That makes this a good time to consider the evolving relationship between Las … [Read more...]

In the past decade, while most of the nation’s pari-mutuels zigged toward building slot businesses, Gulfstream Park zagged – doubling down on horse racing. And a lot of people doubted the decision. Horse racing is a dying industry, those people reasoned. (FYI, they included me.) Sure, you can prop up horse racing for at least a few years, if you can get the slot and poker players to leave the … [Read more...]

When you’re new to Las Vegas, you might not be familiar with some of the road rules that many of us take for granted. And then there are those a) know the rules and choose to ignore them, b) don’t know the rules and couldn’t care less, or c) drive as if there are no rules. But every once in awhile, there are newbies who reach out for information such as Warrior reader Ben, the first reader … [Read more...]

Breaking news: Don Guardian, the mayor of Atlantic City, has spotted the enemy and they are us.  The good mayor is warning anyone who will listen of an impending disaster.  Guardian says if additional casinos are permitted in New Jersey crime will follow and besides that, the traffic will be terrible. If you don’t think prostitution and drugs and other minor crimes won’t come along with it, … [Read more...]

Earlier this week I wrote about the changing face of poker as technological advances thrust our beloved game further away from the tables and ever-more firmly in the palm of our hand. During my investigation, I was quite amazed to read testimonials from more experienced players who attribute strategy in the game changing, with the rapid development of technology and its subsequent devices. … [Read more...]

Whether it’s the size of a crowd at a public rally, a sport event’s financial impacts for a city, or, in the case of interest here, the amount wagered on an NCAA tournament, there’s always the critical question: How was the number calculated? In the case of the American Gaming Association, though, that’s part of the point. The consumer (that’s you, me and anybody else who ever correctly picked … [Read more...]

Almost a year ago, I watched Jan Rouven pose for photos with a line of people who had just seen his show, as he did after every performance. One couple was so enthusiastic, they were going to talk it up to everyone they knew back home. Rouven’s manager and partner Frank Alfter smiled and said, “See? People like him.” They don’t anymore. Whatever becomes of the German magician in U.S. … [Read more...]

It was Monday night, at a dinner on the deck of Lago, overlooking the Fountains at Bellagio, when a familiar voice wafted over the scene. “Is that Pitbull?” asked my dining mate. “Sounds like him, yep,” I said. “I guess they’re using him for the water show now.” “No, for real,” she said, pointing toward the wavy expanse. “Out there. Is that him?” In the distance we saw a bald figure, … [Read more...]

During a meeting convened by Governor Brian Sandoval earlier this month, the task before the Gaming Policy Committee was clear: Figure out how Nevada can adapt to emerging gaming—a sprawling, shifting area that, right now, comprises three main groups: daily fantasy sports (DFS), skill gaming and e-sports—without compromising its reputation as the “gold standard” of gaming regulation. The stakes … [Read more...]

Atlantic City received some great news in March; revenues from the casinos in the boardwalk city were up 14.7% in February.  A leap year and good weather made this February a much better month for the casinos than it was in 2015. But it is not likely to become a trend, unless Atlantic City can figure out a way to add one day to each month and schedule perpetual sunny, stormless skies. Atlantic … [Read more...]

A short time back, I was contacted by a casino interested in offering a high rolling blackjack player a 30% cash rebate on  losses he had incurred. The player apparently made this demand to the casino, saying he would not play again unless he was given this rebate. Management was trying to understand the mathematics behind DOLs before making their decision. Good for them. Unfortunately, a 30% … [Read more...]

The Seminole Tribe runs seven of the eight Indian casinos in Florida. Their $2 billion-plus annual revenues rightfully draw attention as a Native American success story. Meanwhile, in the western reaches of Miami-Dade County, the Miccosukee Tribe of Florida quietly runs the eighth casino, serving locals plenty of slots, poker, and bingo. The Miccosukee Tribe of Florida formed in the 1800s in … [Read more...]

Dear Gaming Colleagues: With the NCAA men’s basketball tournament about to tip off, new AGA research shows that Americans will wager $9.2 billion on the college basketball tournament this year. Amazingly, 70 million brackets will be completed by 40 million people. To put that in context, more brackets will be completed than ballots will be cast for the next president in November. AGA’s … [Read more...]

What would happen to Las Vegas if the global economy dipped into another recession this year or next year? Some experts say that’s a likely scenario, due in part to tough financial conditions in Europe and China. Jeremy Aguero, an economist at Applied Analysis, said Las Vegas would be substantially better off than it was during the last recession. Even if another recession hit, Aguero said, it … [Read more...]

The Beatles' “Taxman” gets a lot of airplay this time of year as people prepare their annual bloodletting for federal, state and local governments. Little wonder, because George Harrison's lyrics still ring true: “If you drive a car, I'll tax the street. “If you try to sit, I'll tax your seat. “If you get too cold, I'll tax the heat. “If you take a walk, I'll tax your feet.” Gov. … [Read more...]

One way for casinos to coax gamblers to their facility is to offer giveaways and perks. Another way is to eliminate things that patrons have objections to. Seminole Casino Coconut Creek is doing the latter, by dousing out the biggest deal-breaker for many South Florida who gamble: smoking. Casino officials converted their second floor, which had been used as a poker room, into a non-smoking … [Read more...]

The IS-7 thunders over the rubble of a ruined cottage just as a T110E5 comes crashing through the trees. They simultaneously fire on the Spahpanzer Ru 251, which is rocked by explosions but manages to hang on. As the attackers reload, the Ru 251 wheels backward, searching for cover. But an SU-152 is waiting to deliver the kill shot. In a fiery blast, the Ru 251 ceases to exist. That’s a lot of … [Read more...]

Great news! UNLV is opening a center to study gaming regulation. The subject is a very personal one for me. When I was promoted to the position of casino manager in 1981, I was totally unprepared. I had no idea what a casino manager did or what it meant to manage a casino. What was there to manage? I looked for a book or a class to help me. There was one book, “Casino Management” by Bill Friedman … [Read more...]

While opponents criticize Donald Trump for four failed casinos, they neglect to mention the keen eye he had two decades ago for the Seminole Tribe of Florida, whose gaming operations now net more than $2 billion per year. In early 1996, when the tribe’s main income was derived from its Hollywood bingo hall, Trump courted tribal chairman James Billie. Trump visited the tribe’s reservation in the … [Read more...]

When I took the helm of the AGA nearly three years ago, Howard Stutz penned a piece warning me about what I would encounter. “Overseeing the American Gaming Association is not like herding cats. It’s more like herding mountain lions. One misstep and you’ll lose body parts,” he wrote.   While few industries rival the competitive nature of gaming, the same cannot be said for the press corps that … [Read more...]

Things are really mixed up. At least, they should be. I've been thinking about commonalities between recent successes that some players have had against casinos. While the cultural and casino industry obsession with card counters is not fading, the powerful methods advantage players and cheaters use to beat the house continue on in relative obscurity. Many of these methods share one thing in … [Read more...]

What happens in a state capitol may not affect people as much as one might think. Case in point: The Florida Legislature once again failed to pass a gambling agreement with the Seminole Tribe of Florida, a critical portion of which expired back in July 2015. The bill officially died Friday, and the session ends March 11. The result: Blackjack, baccarat and other table games continue at the … [Read more...]

When the Nevada Gaming Control Board determined in October that daily fantasy sports companies must be licensed to operate in the Silver State, many observers falsely presumed that the casino gaming industry was flexing its muscle to shut down an upstart competitor. In actuality, Nevada provided legal clarity and a roadmap for daily fantasy sports’ continued success — exactly what the gaming … [Read more...]

Glenn Schaeffer, the former chief financial officer of Circus Circus Enterprises, summoned me to the casino operator’s corporate offices one afternoon in late 1990. The company was preparing to release quarterly financial results. This was before 2002 passage of the Sarbanes-Oxley Act. Fair disclosure now requires far more financial transparency than a simple press release. Schaeffer’s … [Read more...]

The proposal to alter Florida’s gambling landscape, at this stage, is like the climactic moment in the movie Apollo 13. As the troubled spacecraft returns to Earth, Walter Cronkite says: “Will the heat shield hold? Will the command module survive the intense heat of re-entry? This is the critical moment.” As the Florida Legislature, which began its session in January this year, approaches its … [Read more...]

When Michonne Ascuaga resigned from the Nevada Gaming Commission, it was a sad event for Nevada and for the Ascuaga family. She is part of the second generation of her family in the casino industry, chosen by her father to be the leader of the family business in the 21st century. Ms. Ascuaga’s father came to Nevada in 1955 with Dick Graves to open the Nugget Casino in Sparks. Dick Graves left … [Read more...]

It doesn’t take a spotlight for 23-year-old exotic dancer Daisy to light up. On the stages of Sapphire Gentleman’s Club and on wooden dance floors of bars across Las Vegas, a flower blooms in a dark room over and over again. Ten-gallon hats, shiny belt buckles and Daisy Dukes couldn’t distract from the professional stripper’s green eyes and bouncing blonde ponytail as she added in extra turns … [Read more...]

Lawmakers in more than two dozen states are considering daily fantasy sports proposals that would either legalize and regulate the activity, ban it outright, or do nothing. One might believe the controversial industry is on life support. The analysts at Eilers & Krejcik Gaming have a differing view. In a comprehensive research report authored last month, firm partner Adam Krejcik and … [Read more...]

In the past two months the American Gaming Association has been leading a well-thought-out effort to expand legal sports betting across the U.S. Through effective use of public opinion (it appears that even President Obama places an occasional sports bet) combined with their already year-long effort against illegal gambling (which includes 97% of all current sport betting), the AGA has created … [Read more...]

Gamblers at the Monte Carlo in Monaco, the Aria in Las Vegas and Caesar's properties around the world hope for a big win while settled in chairs designed and made in Youngstown, Ohio. Gasser Chair Co., a family-owned business marking its 7 0th anniversary in February, is one of the world's top suppliers of seating for casino table games and slot machines. The low-key company's first products … [Read more...]

Mike Rumbolz never expected to be a CEO at this stage of his gaming career. But casino equipment provider Everi Holdings needed to make a drastic change. Over Presidents Day weekend, the Las Vegas-based company sacked its CEO and asked Rumbolz, 61, a board member and independent consultant for five years, to take over while a national search takes place for a new top executive. Rumbolz' … [Read more...]

WILMINGTON, Del. — A bondholder lawsuit against Caesars Entertainment Corp., which the casino company has warned could plunge it into bankruptcy alongside its operating unit, was stayed Friday by a U.S. Bankruptcy judge. Judge Benjamin Goldgar said the stay on the litigation would be lifted either on May 9 or 60 days after an examiner publishes his report into corporate deals that the … [Read more...]

The world is a serious place, too serious most of the time and the Middle East is one of least funny places. War and violent political turmoil are hardly proper subjects for a good joke. However, there was news in February perfectly suited to caricature and late night standup. In what may or may not have been coincidental news items, both Jordan and Israel are considering casinos. Prime Minister … [Read more...]

Over the last few days, observers have been talking about Senator Harry Reid’s successful push to make Nevada an important state in the presidential nominating process. Beyond the candidates who appealed to the state’s racially, geographically and philosophically diverse electorate, many benefitted from this move, not least of which is the casino gaming industry. On TV and Twitter, images of … [Read more...]

Steve Wynn was calm and complimentary toward the Macau government 12 days ago during the company's fourth-quarter conference call. Four months earlier, he was boiling over with rage, leveling a verbal beat-down on Chinese gaming officials. Barclays Bank gaming analyst Felicia Hendrix noticed the difference. She told the chairman and CEO of Wynn Resorts Ltd. he seemed "more Zen" when … [Read more...]

Caesars Palace had it 28-12. It was 25-11 at Harrah's, 15-9 at the Wynn and 23-11 at New York-New York. Those aren't the latest odds -- only the latest odd chapter from America's never-ending campaign. They're Hillary Clinton's winning delegate margins on Saturday at some of the casino caucus sites that helped propel her to victory in Nevada. "Casino caucus site" might not be an oxymoron, … [Read more...]

On Friday, I felt like Joe Pendleton watching his own funeral in the 1978 movie “Heaven Can Wait.” Although, I’m sure not Warren Beatty and in no way I’m the quarterback of the Los Angeles Rams. After the news of my impending departure from the Las Vegas Review-Journal became public, the comments, messages, phones calls, texts, tweets and Facebook posts of support were overwhelming. I can’t … [Read more...]

A new Nevada gaming regulation will change the manner in which casinos owned by private investment groups report their quarterly financial results. The key word is private. For example, if the new rules had been in place last year, we wouldn't have known The Cosmopolitan of Las Vegas finally reported a profitable quarter for the first time since 2010 or thatSLS Las Vegas lost more than $89.3 … [Read more...]

The VIPs have checked out. It's past time for Macau's gambling industry to get used to that fact. The Chinese high-rollers who turned Macau into the world's biggest casino destination over the past decade have been in retreat for almost two years now, in the face of a government graft crackdown and tighter restrictions on cross-border money flows. The industry is in such dire straits that a … [Read more...]

The AGA continues to gain steam on sports betting. As reported in The Hill today, AGA President and CEO Geoff Freeman said the Association is “creating an environment where policymakers are inclined to ask the questions that we would like to see them ask about the issue.” The article also reported that “Freeman and others at the AGA are having meetings with governors, attorneys general and … [Read more...]

You might ask, as some have, why do I write so much about Macau? There are several reasons. Macau, even in decline, produces two or three times as much gaming revenue as Las Vegas and more than any other jurisdiction in the world. MGM, Las Vegas Sands and Wynn resorts are heavily invested in Macau and it is instructive. In the modern casino industry, it takes a billion dollars or more to build a … [Read more...]

It's high time to ignore the Culinary Union. Once again, union officials duped us over another stunt stemming from the labor organization's fixation on locals gaming giant Station Casinos. The Culinary and its affiliate Bartenders Local 165 have spent years seeking to organize 5,000 nongaming employees of Station Casinos' 12,000-member workforce. Every attempt has backfired. The … [Read more...]

Gamblers and casino employees in the country's four busiest gambling states must contend with tobacco smoke that wouldn't be allowed in other workplaces or facilities open to the public, a study by the American Lung Association shows. Nevada, Pennsylvania, New Jersey and Louisiana, which together accounted for close to half of the nation's commercial casino gambling revenue in 2015, exempt … [Read more...]

Before the name is lost to history in Las Vegas, a place that revises its past like no other, pause to consider the life of Donald Shepard. He died recently at age 79. In another place, at another time, Shepard might have been remembered as a good-humored executive in a factory town. As you know, Las Vegas is no ordinary place, but a casino-driven factory town that produces fantasy for millions … [Read more...]

The marriage between Penn National Gaming and Gaming and Leisure Properties is unbreakable despite a two-year separation. Some marriages might be rocky, but this is a gaming industry Valentine's Day story. Penn National spun off Gaming and Leisure Properties as a real estate investment trust in December 2013, turning over ownership of 21 of the company's resorts and racetrack casinos. Penn … [Read more...]

Few events capture the nation’s attention quite as much as the annual Super Bowl. This year, over 111 million people watched at least part of the game, another 4 million streamed it. Las Vegas played host to 300,000 tourists eager to watch the game, make a wager and party the night away. In every corner of the nation there were Super Bowl parties, thousands upon thousands of them, after all, no … [Read more...]

Steve Wynn has talked in glowing terms about his company's plans to build a resort complex along the Mystic River in the Boston-area town of Everett. During a quarterly earnings conference call last summer, the chairman and CEO of Wynn Resorts Ltd. described the $1.7 billion waterfront development as "the largest single private investment in the history of (Massachusetts)." The trouble was … [Read more...]

As the Florida Legislature debates the state’s gambling landscape, making decisions that will have impacts for decades, the gateway to the state’s southernmost reaches will be adding jai-alai and poker by the end of the year – thanks to an arcane 1980 law. Hialeah Park owner John Brunetti is working with Florida City officials to open a gaming facility near the intersection of Florida’s … [Read more...]

The Carolina Panthers didn't exist and Peyton Manning was in high school when Congress halted expansion of legal sports wagering in the U.S. in 1992. The Professional and Amateur Sports Protection Act allowed Nevada's sports book industry to continue along with small stakes sports wagering in Oregon, Delaware and Montana. As for stopping illegal sports betting, the 24-year-old law has been … [Read more...]

Publisher's Note: This morning we received the following from Ian Douglas, Executive Officer, SK Hospitality (who works for Mr. Sol Kerzner) and based on the information provided have decided to retract the original commentary: "This article is totally incorrect and defamatory to Mr Kerzner’s good name and reputation. It shows a total disregard for any fact checking of the story (by the author … [Read more...]

The Nevada Gaming Control Board released its revenue figures for December 2015 last week, closing the books on the 2015 performance of the state’s casinos. Overall, it was a year that showed the continuing transition in Nevada gaming. Overall, the state’s casinos’ $11.1 billion take let them notch a 0.97 percent increase in total win; they took in just under 1 percent more than they did in … [Read more...]

An overwhelming majority of Super Bowl viewers say it’s time to change sports betting law, according to new research released by the American Gaming Association (AGA) and reported by ESPN. Further, 47 million people have bet on the Big Game at some point, and an equal number say they have bet on sports in the past year. That’s nearly three times the number of people who attended every NFL game … [Read more...]

Amaya Gaming CEO David Baazov knows how to make financial headlines. The Montreal-based business spent $4.9 billion to acquire the parent company of PokerStars in 2014. A year later, Amaya, already publicly traded on the Toronto Stock Exchange, gained listing on the Nasdaq to open itself up to U.S. investors. Amaya has been an active acquirer of other gaming companies, including Internet … [Read more...]

For those of you who can switch your attention away from Iowa for a few minutes, there was plenty of politics to witness in Hollywood, Florida, on Monday morning. Florida Governor Rick Scott visited the Seminole Tribe of Florida’s headquarters as the Seminoles unveiled details for a $1.8 billion expansion program, centered on new hotels at their Hard Rock casinos in Hollywood and Tampa. The new … [Read more...]

(Bloomberg) -- The CEO of the world's biggest online poker company just showed his hand. David Baazov said Monday that he intends to make a cash offer for Amaya, the owner of gaming sites PokerStars and Full Tilt, with a bid valuing the company at C$2.8 billion ($2.3 billion). Amaya's shares surged as much as 32 percent to C$19.75, still below the C$21-a-share offer Baazov is discussing with … [Read more...]

Thanks largely to gamblers in Pennsylvania, Ohio, Louisiana and Maryland, casinos posted a modest increase in casino win – or player losses – in 2015. In 20 of the 23 states with commercial casinos, the house won $37.5 billion in 2015, up by 1.62 percent from the comparable total in 2014, according to a Player’s Advantage analysis. Figures from New Mexico, Rhode Island and Oklahoma were … [Read more...]

Before October, most states took a hands-off or wait-and-see approach in regard to legalities surrounding daily fantasy sports. Then Nevada pulled the plug in the industry and other states followed. Gov. Brian Sandoval now wants the Gaming Policy Committee to figure out the next steps for a business model that shows no signs of disappearing. The committee, led by Sandoval and including … [Read more...]

Maybe we're getting a little bit ahead of ourselves with this speculation of the NFL coming to town. But in the NFL, getting ahead of oneself is a way of life. It's why Chris Berman predicts who will win while wearing a turban, why Bill Walsh scripted the first 15 plays for the Super Bowl 49ers after putting in the West Coast offense. Now most teams do it. It's why when word got out Thursday … [Read more...]

With the presidential nominating process about to begin, AGA today released its first-ever voter guide to help educate the nearly one-million gaming employees about the presidential candidates and how to participate. The guide includes candidates’ views on gaming, as well as important information on when to vote, where to vote and how to register. The voter guide is part of an initiative … [Read more...]

It is no secret to anyone that gambling is in the midst of a dynamic expansion phase in the United States. In the last few years, Pennsylvania, Maryland, Massachusetts, Maine, Kansas, Kentucky, New York, Ohio and Illinois have expanded their gaming capacity and options. Louisiana, Iowa, Mississippi and Nevada have each added at least one major new casino property. Rhode Island, Georgia, Florida … [Read more...]

Three years after the head of the U.S. Treasury Department's federal money laundering unit told the gaming industry it needed to clean up its casinos, operators have heeded the advice. The Washington, D.C.-based American Gaming Association said last week casino companies have "significantly" boosted their investment and vigilance to comply with the Bank Secrecy Act and anti-money laundering … [Read more...]

Florida Governor Rick Scott has proposed a seven-year agreement with the Seminole Tribe of Florida that would bring $3 billion to the state, while giving the tribe exclusive rights to certain facets of Florida’s gambling scene. Scott’s proposal, currently being heard by the Florida Senate’s Committee on Regulated Industries, does more than that, though. It allows South Florida horse tracks, dog … [Read more...]

What is the connection between owning the Golden Nugget and television? Tilman Fertitta, chairman and CEO Landry's Inc., the privately held Houston-based company that owns the Fremont Street resort, is about to find out. CNBC announced this month Fertitta will take part in "Billion Dollar Buyer," a reality television series that premieres in late March on the financial news … [Read more...]

There seems to be a lot of folks, recently, who have never been in casinos but are making pronouncements about how to regulate or run them. There’s nothing wrong with general Monday-morning quarterbacking, but in the gaming world, folks without a clue often have the power to do serious harm. The most recent example comes from Ohio, where the legislature’s Joint Committee on Gaming and Wagering has … [Read more...]

The casino gaming industry is dedicated to anti-money laundering (AML) compliance and, in partnership with Ernst & Young, it’s now been proven. AGA today released the most comprehensive examination ever conducted of the U.S. casino gaming industry’s compliance with federal AML laws and regulations. This report comes ahead of the upcoming Financial Action Task Force (FATF) Mutual Evaluation, … [Read more...]

The first of the major tennis tournaments of 2016 is underway down under. At the 105th edition of the Australian Open, the world’s best tennis players have gathered in the warmth of the Australian summer to bat a ball back and forth over a net. The tournament opens the year in outdoor sports. The only way to play any of the outdoor, warm weather sports during the northern hemisphere’s winter is to … [Read more...]

Even with the Australian Open underway in Melbourne, the tennis world's big topic is a damning report by the BBC and BuzzFeed News UK alleging pervasive match-fixing over the past decade. As the scandal plays out, it will provide a cautionary tale not just for the sport, but for the future of legalized sports betting in the U.S. Documents obtained by the outlets point to 28 players who in 2008 … [Read more...]

Las Vegas is supposed to make you feel special. Case in point: Jay Sarno’s whole premise for Caesars Palace when he opened it in 1966 was that the guest was the center of all creation. As you drove past the fountains and cypress trees, you were transported in time and space to a magical empire where you were Caesar. Everyone else, and everything else, existed only to gratify you. And it … [Read more...]

Corey Sanders and Gordon Absher drew the short straws. Sanders, MGM Resorts International's chief operating officer, and Absher, the casino company's veteran public affairs spokesman, took the brunt of Friday's firestorm. The gaming operator broke from long-standing Las Vegas tradition and announced plans to charge customers to park at MGM-owned Strip resorts. The reaction was swift, … [Read more...]

We may never find out whether some of the players in the 2016 Australian Open are guilty of throwing matches. Tennis's governing authorities deny allegations that they have ignored widespread match-fixing. But the self- immolation of cycling, soccer and other sports shows that denial and obfuscation are the wrong way to deal with accusations of impropriety. We tennis fans had been feeling … [Read more...]

The thwack of a jai-alai pelota smacking the wall is back, but this time there’s plenty of ding-ding-ding from nearby slot machines. Dania casino officials unveiled their massive $64 million renovation Wednesday, with the softest of soft openings: They contacted selected media shortly before 8 a.m. with news that, yes, the 18-month casino makeover was ready for visitors. A few began … [Read more...]

Pennsylvania gamblers are most likely next in line to play legalized online blackjack, poker, slots and other casino games. A bill that adds online gambling and enhancements for land-based casinos is due for legislative action this spring after getting sidetracked during state budget negotiations. State Rep. John Payne, chairman of the House Gaming Oversight Committee, predicts that at least … [Read more...]

The End of Days is upon us! And we have our good friends at MGM Resorts International to thank. They have opened the seven seals of Revelation, poured out the seven bowls of wrath, and blown the seven trumpets. They have decided to charge people for parking on the Strip. For the first 13.8 billion years the universe has been in existence, the roughly 4.5 billion years the Earth has … [Read more...]

On the surface, the new gambling compact between the Seminole Indian Tribe and Florida Gov. Rick Scott looks like a win-win for both sides. The state is guaranteed $3 billion over the next seven years from the tribe. In exchange, the Seminoles will be allowed to operate craps and roulette tables at the tribe's seven casinos. The agreement limits competition. As written, it prohibits another … [Read more...]

The Powerball jackpot has passed out of our atmosphere into the stratosphere – the realm of billion dollar prizes. “Step right up Ladies and Gentlemen! Get your Powerball ticket here! Win a billion dollars! A ticket is your pass to unbelievable wealth, the answer to your troubles and the fulfillment of all of your dreams. A mere two dollars buys you a chance for happiness and a heavenly life. Get … [Read more...]

The Powerball prize won’t instantly make its winner a billionaire, after taxes. What the $1.5 billion jackpot can provide a single champion is a shot at using the same tool that Alphabet Inc. co-founder Sergey Brin, hedge fund manager Bill Ackman and Microsoft Corp. co-founder Bill Gates rely on to manage their fortunes. Family offices, as they’re known, handle the daily and financial affairs … [Read more...]

Boyd Gaming Corp. has caught the eye of the investment community, primarily due to a reinvigorated Las Vegas locals market. Improved Southern Nevada economic fundamentals, such as lower unemployment rates, higher wages and improved housing affordability, have boosted Clark County gaming area outside the Strip. Las Vegas-based Boyd, which owns 13 regional casinos in seven states, including … [Read more...]

Count the analysts at Fitch Ratings Service as predicting 2016 to be a stable environment for most U.S. gaming operators. Few casino openings are planned that could tip the scales in saturated gaming markets. Discretionary spending by consumers remains on an upswing. Companies saddled with a hefty long-term debt — this doesn't include Caesars Entertainment Corp. — have taken necessary steps to … [Read more...]

With a new year upon us, AGA has overhauled its website to make it an invaluable resource for you in 2016 and beyond. The new, comprehensive AGA site houses up-to-date statistics, research and industry news that you can easily access, share and incorporate into your work. The home page features industry resources, such as economic and regulatory data, and AGA initiatives, such as Gaming … [Read more...]

In the waning days of 2015, Chinese police announced the arrest and confession of a corrupt official who had accepted $30 million in bribes. The story is not a gaming story, except that it illustrates the immense amount of money that was involved in graft, corruption and corporate crime in China before the government took action. It also points out that VIP gaming revenue in Macau was built on an … [Read more...]

So what will 2016 hold for the Las Vegas gaming-tourism complex? Change for certain, although the nature of that change won’t be clear until it’s upon us. One of the things that defined Las Vegas tourism in the 1990s boom years—and even into the late 2000s slump—was casino openings. Since the Cosmopolitan’s 2010 debut, there has not been a genuine new-construction opening in Las Vegas. The new … [Read more...]

Now that Macau's casino market has hit rock bottom, the investment community might have a more optimistic opinion about the world's largest gaming market. But what if the record 34.3 percent gaming revenue decline of 2015 was just another notch in the noose? Most analysts are predicting Macau's casino market will fall anywhere from 5 percent to 16 percent this year. "The structural growth … [Read more...]

Despite allegations that a former Midwest lottery executive rigged games in five states so he and associates could cash in, Americans' most popular form of gambling remains a safe and fair bet, state and national officials say. “I think everyone would agree that the processes and procedures that are used to conduct these games, wherever they are, have been examined and the games are safe and … [Read more...]

Not many folks predicted that daily fantasy sports would dominate the headlines over the last half of 2015. That was before DraftKings and FanDuel blasted television audiences with commercials that had more airtime than the actual football games. Meanwhile, the business operators showed an arrogance not seen in nearly a decade, when offshore online gambling websites heavily advertised their … [Read more...]

By all accounts, the recession has passed and state by state the gaming industry should be in recovery. But that is not the case because many of the states are facing much more competition than they did before the recession. A rapid expansion is taking place in the eastern half of the country that is making some lasting changes to existing gaming jurisdictions. Quantifying those changes can be … [Read more...]

What were the big stories of 2015? • Increased discussion of expanded sports betting as the illegal gambling market is further exposed, daily fantasy sports run into continued obstacles, and leagues, broadcasters and other interested parties seek to increase fan engagement. • Greater progressive thinking at the state level where regulators are growing increasingly convinced that they, the … [Read more...]

Here is my top ten: Slot mergers – GTECH’s $6.4 billion buyout was completed in April. GTECH took on the IGT name, and the company firmed up its business operations worldwide. Meanwhile, Scientific Games Corp., which acquired Bally Technologies, SHFL, and WMS over the past 18 months, is now considered the industry’s largest manufacturer. Adelson family buys Las Vegas Review-Journal – … [Read more...]

The More Things Change, the More They Stay the Same I had almost finished the list of the stories I thought were the most important of 2015, when I reread my list for the prior year. To my surprise, over half of the stories on the 2015 list were also on the 2014 list. The events in Macau, Massachusetts, and New York; Caesars’ financial woes; the slot mergers; and a recovering Las Vegas were yet … [Read more...]

We know Kentucky has problems filling its budget gaps, but a state judge's Christmas Eve gift was a little extreme. In essence, Franklin Circuit Judge Thomas Wingate is forcing owners of an online gaming company to pay penalties of $870 million, which could help bail out the financially troubled commonwealth. Heck, you could buy all of Kentucky for that amount. Maybe the judge had few … [Read more...]

It’s been the busiest year for gaming- industry consolidation in a decade, and the wave of mergers and acquisitions isn’t over yet. As governments ratchet up the tax burden at a time when companies are competing harder than ever for new customers, oddsmakers are finding the best way to combat the squeeze on profitability is to join forces. At $12.9 billion, the volume of deals announced in 2015 … [Read more...]

America's biggest generation yet will succeed baby boomers as the primary group of casino customers, but that poses a problem for the gambling industry. Casino floors, in their current form, aren't much of an attraction among the coveted millennial segment. Adult millennials, those 21 to 34 years old, find slot machines boring and would rather go to a nightclub than sit at a blackjack table, … [Read more...]

The recent congressional hearing into legislation that would ban online gaming couldn't have gone worse for backers of the bill even if they attempted to sabotage the three-hour meeting themselves. Maybe they did. Three witnesses who testified in support of a measure that would roll back the Interstate Federal Wire Act to its pre-2011 interpretation came off as uninformed and … [Read more...]

An important tool used by regulators, media and gaming industry professionals to better understand the complex gaming regulatory landscape has received a major update with the addition of Tribal gaming policies and regulations that cover 28 states. The American Gaming Association’s (AGA) By the Book, a first-of-its kind resource that allows stakeholders to easily compare key facts about the … [Read more...]

Hitting the millennial mark is the next logical step in an evolving gaming industry. Sit in at any gaming conference and you’re bound to hear despairing talk of millennials and gambling. Capturing the millennial market, the thinking goes, is the key to success for Las Vegas casinos in the near future. It’s not just faddishness that makes millennials such a compelling group for casino … [Read more...]

The situation for casinos in Macau has not improved; gaming revenue in November fell 32.3 percent to $2.1 billion. Studio City opened without growing the market and the government is adamant about holding the line on new table allocations. The main culprit in Macau’s disastrous decline is the Chinese government. Eighteen months ago, China began to crack down on corruption within the Communist … [Read more...]

A handful of GOP presidential candidates debating Tuesday at The Venetian clearly missed the memo from their host about supporting his quest to ban Internet gaming. Las Vegas Sands Corp. Chairman Sheldon Adelson is pushing legislation in Congress to restore the Interstate Federal Wire Act to its pre-2011 interpretation. Adelson is also bankrolling a grass-roots effort favoring the measure as … [Read more...]

(Bloomberg View) -- Major League Baseball Commissioner Rob Manfred's decision to uphold Pete Rose's permanent ban for gambling should come as no surprise. Even for those who think the ban should be lifted so the all-time hits leader would be eligible for the Hall of Fame, Rose has made it increasingly difficult to defend him. Since his initial ban in 1989, the league has left open the possibility … [Read more...]

Harry Reid’s nearly 30 years of arm-twisting and dealmaking in the U.S. Senate is winding down. His last major hurrah may be a low-visibility maneuver to bail out Caesars, the zombie casino corporation in search of an alternative to bankruptcy. Reid is pushing an amendment to Congress’s end-of-the-year omnibus spending bill which would make it easier for companies on the verge of bankruptcy to … [Read more...]

Slot machine giant International Game Technology is as much a part of Nevada as the Battle Born motto, bristlecone pine trees, sagebrush and Lake Tahoe. The folks at the former GTECH Holdings understand this. That's one reason why the Italian-based lottery company didn't abandon the Silver State after spending $6.4 billion to acquire one of the casino industry's largest gambling equipment … [Read more...]

At the Golden Nugget Casino in Las Vegas on November 22, 1983, Steven Einbinder and Tony Dalben were caught hole-carding at blackjack, with Dalben signaling the dealer's hole-card to Einbinder. In short, these players found a dealer who, through lack of skill, exposed his down or hole-card. This allowed Einbinder and Dalben to change how they played their hands, gaining a huge edge over the house. … [Read more...]

Steve Wynn has been a trendsetter and visionary for at least 25 years. One could argue that he has been setting trends in gaming since he entered Atlantic City and reshaped casino financing and casino operations, thirty-seven years ago. Atlantic City aside, Steve’s return to Las Vegas was momentous and a game changer. Since the Mirage opened in 1989, Steve Wynn has over and over created a model … [Read more...]

Our industry’s commitment to a culture of compliance is stronger than ever. One year after issuing the first-ever comprehensive set of Anti-Money Laundering (AML) Best Practices, AGA today released updates that include: Enhanced emphasis on instilling a strong culture of compliance; More robust assessment of money laundering risks; Incorporation of key conclusions from the U.S. Treasury … [Read more...]

Nevada Attorney General Adam Laxalt didn't back away from adding his name to a letter circulated by an attorneys general group offering support for federal efforts to restore the Interstate Wire Act back to its pre-2011 interpretation. But the state's top prosecutor Tuesday outlined "some nuances in my own position." Laxalt sent a separate letter to congressional leaders ahead of Wednesday's … [Read more...]

Sometime soon, perhaps in the next few days, a judge in New York is expected to issue an opinion that may go a long way in determining the future of the daily fantasy industry. Justice Manuel Mendez could hand a lump of coal to FanDuel and DraftKings if he orders the two sites to stop operating in New York because they violate state gambling laws. Or he could provide a gift that keeps on … [Read more...]

The venerable game of poker might be down but it's far from out — especially in Pennsylvania and neighboring states, says the man behind “Poker Night in America.” “Poker seems to be doing very well, particularly in a geography that doesn't get enough attention,” says Nolan Dalla, creative director for the series broadcast on CBS Sports Network, Root Sports and other outlets. “Almost all of the … [Read more...]

It's hard to miss Ainsworth Game Technology's new North American headquarters. The 291,000-square-foot building, currently under construction in the southwest valley along the 215 Beltway near South Jones Boulevard, is already emblazoned with the red Ainsworth "A" logo. The Australian-based slot machine producer took a significant step last month to begin filling the two-story office, … [Read more...]

According to an article in the Daily Mail, Phil Ivey is soon going to get a chance to appeal the 2014 ruling that allowed Crockfords Casino in Mayfair to keep the $12 million Ivey won playing baccarat in 2012. In winning his millions, Ivey used a method of advantage play called "edge sorting," where he exploited asymmetries in the backs of the cards used by Crockfords to gain more than a 6% edge … [Read more...]

By statute and tradition, inclusion in the state's casino Black Book amounts to a lifetime ban. Once you're on the infamous list of excluded persons, you're on it for good until death do you part. That probably makes sense for many, even most, of the angle-shooters, wiseguys and hoodlums who have been added to it over the years. They're in because if you're going to have such a thing as an … [Read more...]

As we recover from Thanksgiving, it is worthwhile to look back on a Turkey Day weekend in 1966 that changed Las Vegas profoundly. At that time, 360,000 U.S. servicemen and women celebrated the holiday in Vietnam, while newspapers reported protests in the United States against the war—protests that would grow as the decade turned more tumultuous. That unrest was echoed in Las Vegas, too. The … [Read more...]

From the first day of the final round, the winner of the 46th WSOP seemed certain. Joe McKeehen had what most observers called an unbeatable lead, twice as many chips as the next person. They were right; he controlled the action from start to finish. It took just 184 hands for McKeehen to win the top prize of $7.6 million. But no one in that final nine went home broke; even ninth place paid $1 … [Read more...]

Eight casino projects in the Northeast that are under construction or in planning is great news for Nevada's slot machine industry, which will have to fill orders for some 20,000 games as the developments come on line over the next three years. For Caesars Entertainment Corp., and operators of older casinos in Atlantic City, Philadelphia and neighboring destinations, the outlook is not quite as … [Read more...]

Macau's casino industry is down more than 35 percent from a year ago, but that doesn't mean the gaming market is slowing expansion plans. Casino operators have budgeted almost $27 billion on new developments in Macau, including properties owned by Wynn Resorts Ltd., Las Vegas Sands Corp. and MGM Resorts International. Meanwhile, Macau gaming regulators are expected to announce this week that … [Read more...]

The 2015 Nevada Legislature adjourned on June 1, but the session never ended for state gaming regulators. Six bills passed by lawmakers and signed by the governor brought aspects of Nevada's gaming industry into the 21st century. But the legislation also required months of debate to change existing gaming regulations and write new laws. "These were changes that needed to happen," said Gaming … [Read more...]

John Vaccaro was sure he had something big working. But in the world of the professional casino cheat, good help can be hard to find. It's not all "Ocean's 11" reruns, baby. Putting together a competent crew isn't easy. Vaccaro picked up a phone at a Las Vegas sports bar and complained to an associate down South, "They want to argue with people that's been doin' it all their lives. … [Read more...]

Even though a bill to allow online casino gaming in Pennsylvania is suddenly moving forward, players are months away from placing Internet bets legally. The Gaming Oversight Committee of the state House voted 18-8 on Nov. 18 to approve a bill allowing all forms of casino gambling online, including slots, blackjack and poker. The proposal had been in the background as state leaders wrangle over … [Read more...]

Most made-in-Vegas movies — from "Ocean's Eleven" (1960 or 2001, take your pick) to "The Hangover" — are just like tourists. They hit the town, they gaze in wonder at the neon-bedecked excess, they survive assorted hijinks. Then they go home. But a few Vegas movies get us, really get us, right where we live. And no movie fills that bill better than "Casino." Exactly 20 years ago — on Nov. … [Read more...]

Two of the most feared and reviled, yet respected personalities in the world of Wall Street will go head-to-head this week in a legal battle of epic proportions. Since being elected in 2010, New York State Attorney General Eric Schneiderman has quickly developed a reputation as the fiercest, most aggressive financial regulator in the country, someone who jumps at any chance to use Wall Street … [Read more...]

Say goodbye to all those annoying commercials. Forget about the promise of winning millions of dollars. The courts are sure to find what the rest of us already know. Daily fantasy games are no different than putting down a bet at the horse track or handing over a few bucks to your neighborhood bookie. Once we get past the obvious - yep, FanDuel and DraftKings are indeed sports … [Read more...]

He oversees a publicly traded company, but you won't find Blake Sartini with his attention focused solely on the daily ups and downs of Golden Entertainment's stock price. The gaming operator is nearly 4 months old after a $341 million merger that brought together Golden Gaming's statewide slot machine route operation, Pahrump casinos and the Nevada-leading tavern business with Lakes … [Read more...]

The Massachusetts gaming commission released the revenue numbers for the racino in Plainville, Massachusetts on November 16th. The 1500 slot machine racino had $58 million in coin-in and $12.9 million in net revenues, a $277 win-per-day. All of the media outlets reporting cited the declining win per day and the Penn National property’s failure to meet pre-opening forecasts. Plainridge Park Casino … [Read more...]

When card games were dealt in clubs and private homes, when the mob ran most American gambling and when Las Vegas was barely an idea, Bernie Sindler was there. Sindler, a former affiliate of Meyer Lansky and Bugsy Siegel, comes from a generation when those who knew didn’t speak. Talking freely about inside business wasn’t just bad form; at a time when most gambling business was illegal, it … [Read more...]

Bloomberg) -- When New York Attorney General Eric Schneiderman began taking action against daily fantasy companies DraftKings and FanDuel this month, he treated the two sites as more or less the same, sending them cease and desist letters with nearly identical language. But the two companies are staking out very different ground in their conflict with Schneiderman — while the third biggest company … [Read more...]

The debate that DraftKings and FanDuel never wanted is taking place. At this juncture, the winning argument is that daily fantasy sports is gambling and not a game of skill. Nevada gaming regulators, based on an attorney general's opinion, said in October daily fantasy was sports wagering under the state's gambling laws. New York's attorney general reached that conclusion last week. At least … [Read more...]

In a gaming pantheon bejeweled with mega-resorts, the Lucky Dragon Hotel & Casino won't set records. But it remains an important development for the city of Las Vegas. Under construction on Sahara Avenue just west of Las Vegas Boulevard, the Lucky Dragon features a nine-story tower and more than 200 rooms above a casino that will cater to Asian gamblers. Contractor Penta Building Group topped … [Read more...]

Las Vegas-based gaming equipment provider Everi Holdings is quickly finding out that spending $1.2 billion to acquire a slot machine provider isn't always going to buy you love from the investment community. The company's third-quarter earnings were a case in point. Effects from the buyout of Multimedia Games last year are still being felt by the company, formerly known as Global Cash … [Read more...]

A year ago, Gavin Isaacs was the dog who actually caught the car he'd been chasing. Scientific Games Corp. spent almost $8 billion in corporate acquisitions to create a gaming equipment provider and manufacturer with 10 divisions touching all aspects of the legalized gambling industry. It was Isaac's job to make all the pieces fit. The company's board gave its CEO a vote of confidence … [Read more...]

(Bloomberg View) -- When New York attorney general Eric Schneiderman issued cease-and-desist orders to DraftKings and FanDuel Tuesday afternoon, demanding the sites stop accepting bets from New Yorkers and characterizing daily fantasy as illegal gambling under state law, it wasn't just a repeat of what happened in Arizona, Nevada and elsewhere. It is a far bigger legal challenge to daily fantasy … [Read more...]

SEATTLE (AP) - The New York attorney general's decision that daily fantasy sports betting sites FanDuel and DraftKings are illegal gambling operations in his state is a blow to the companies, but the multibillion-dollar industry could have more legal headaches yet to come. While the sites have opted not to do business in a handful of states, including Washington, where regulators have made … [Read more...]

After several months of careful review, the American Gaming Association's (AGA) Board of Directors today issued a set of recommendations that mark a major shift in our industry’s approach to sports betting in the U.S., which is currently illegal in all but four states. AGA will build a broad coalition that will determine whether a rational alternative to current sports betting law exists. Such … [Read more...]

(Bloomberg) -- Daily fantasy sports sites FanDuel and DraftKings have always maintained that the services they offer don’t count as gambling because they were contests of skill. On Tuesday, New York Attorney General Eric Schneiderman cast the most important vote yet against this argument. In letters to both companies, Schneiderman defined daily fantasy sports as illegal gambling under New York … [Read more...]

Recent events surrounding the Strip's troubled northern end are short-term fixes to a problem that can only be resolved with a pair of implosions and a construction effort not witnessed in more than a half-decade. The Strip's line of demarcation seems to be Encore at Wynn Las Vegas. Other than SLS Las Vegas and Circus Circus, the north section of Las Vegas Boulevard is a mix of small retail … [Read more...]

The Wheeling-Ohio County Health Board has an opportunity to take a stand on behalf of casino players and employees in West Virginia and beyond. On Nov. 10, the board is scheduled to consider a proposal to expand the county's ban on smoking to include stores, restaurants and most workplaces. The rule would apply to every venue open to the public with two glaring exceptions: the gaming area of … [Read more...]

Don't look for the floodgates to open now that MGM Resorts International has unveiled its plans for a real estate investment trust. Two years ago, Penn National Gaming spun off Gaming and Leisure Partners as the first — and only — casino industry REIT. Since then, Pinnacle Entertainment struck a deal to sell its casino holdings to GLPI, and Caesars Entertainment Corp. asked the federal … [Read more...]

In the 1930’s novel, Day of the Locust by Nathaniel West, he includes the words of a popular song, “If You’re a Viper” by Stuff Smith. The first line is classic: “Dreamed about a reefer five feet long, not too mild, not too strong.” It created, for jazz aficionados, an image of a magical place where music and dreams mingled. Marijuana was not legal during the depression, but the laws were not … [Read more...]

Downtown Las Vegas is outshining the Strip. Through September, downtown casinos have seen gaming revenue increase almost 6 percent compared to 2014. During those same nine months, the Strip is down 1.5 percent. Boyd Gaming Corp., the only downtown casino operator that publicly reports financial results, said last month its casino-hotels produced three consecutive quarters of revenue growth … [Read more...]

The business pages are filled with the high-rolling decisions of Nevada's corporate casino giants, but it's a strategy emerging from the diminutive Eureka Casino Resort in Mesquite that has me intrigued. With its 214 rooms and 1,000 slots, the family-owned Eureka is no threat to the Strip's mega-resort behemoths. But it's a full-service facility with a spa and poker room and has carved out a … [Read more...]

DENVER (AP) - The chances of New England and Denver both being 10-0 when they meet later this month: Not such a longshot. The odds of getting tickets for an historic matchup like that: Start saving now. The Broncos and Patriots are each 7-0. When they play the Sunday night after Thanksgiving, there's a decent chance they'll be putting dueling "Perfect 10s" on the line in an unprecedented NFL … [Read more...]

We extend our congratulations to ownership, management and staff of the Hard Rock Hotel & Casino for earning the 2015 "Outstanding Attraction" award for metro areas from the Iowa Tourism Office and the Travel Federation of Iowa. The award was announced at the Iowa Tourism Conference in Fairfield last week. "Receiving this award means so much to our team," Hard Rock General Manager Todd … [Read more...]

A clearer picture of the convergence between social gaming and the casino floor was on full display inside the International Game Technology booth at last month's Global Gaming Expo. IGT utilized the gaming industry's largest trade show to unveil its slot machine themed after the Netflix series "Orange Is the New Black," an acclaimed comedy-drama about life inside a woman's … [Read more...]

When the debate of Republican presidential candidates on Wednesday turned to the question of whether fantasy football should be regulated in the same way as gambling, former Florida Governor Jeb Bush, an avid player, boasted of his own 7-0 record, then gave an evasive answer. Governor Chris Christie of New Jersey, however, blasted the moderators for wasting Americans' time with such frivolous … [Read more...]

The gaming industry is being invited to have a cup of tea with its traditional opponents. Admittedly for most of its history, gaming has never had a great many political friends. In the past, the industry’s friends showed up only when they were looking for campaign contributions. That has been changing over the last 25 years; there have been politicians who have supported gaming in some manner or … [Read more...]

The commissioner of baseball says online daily fantasy play is a game of skill, not chance. He declared it legal this week, even though a few states explicitly ban it as gambling and others may move to do the same. No great shock there, since Major League Baseball has a stake in DraftKings, the biggest player in the daily fantasy industry. There's money to be made in the industry, and Manfred … [Read more...]

There are at least 1.3 billion reasons why the operators of DraftKings and FanDuel are beginning to sweat. The two largest daily fantasy sports companies were each valued at $1.3 billion this year by the investment community. Both companies, fueled by hedge funds, investment firms, billionaires, and professional sports leagues, were considering initial public offerings sometime in 2016. That … [Read more...]

Unfortunately, Pennsylvanians have seen this game play out before. State lawmakers, desperate to stave off financial problems, look at ways to raise money without angering taxpayers too much. Leaders of both parties dig in. Big ideas with far-reaching impact gain attention. With budget deadlines rapidly approaching — if not long ago broken — the pressure builds to do something, anything. And … [Read more...]

Florida Senator and Republican presidential candidate Marco Rubio is co-sponsor of a Senate bill that would ban legalized online gambling. But his position may not be absolute. During a visit with the Las Vegas Review-Journal editorial board this month, Rubio hinted he could support language that would allow for Internet poker. "On the issue of Internet poker, the only difference between … [Read more...]

Last week, Nevada’s Gaming Control Board ordered daily fantasy sports websites to stop offering their services to Nevadans, concluding that the sites offered “wagering on the collective performance of individuals participating in sporting events,” which is only legal in Nevada with a license (which those sites did not have). The ruling begs two larger questions: Is daily fantasy sports actually … [Read more...]

“Do not gloat when your enemy falls; when they stumble, do not let your heart rejoice.” This Biblical proverb has characterized the casino industry’s response so far to the stunning run of scandals and negative publicity that has surrounded the largest daily fantasy sports operators in the past month. At the very least, anyone who has giddily rejoiced has done so behind closed doors. As easy … [Read more...]

Another quarter’s earnings season is upon us. Wynn Resorts was the first major gaming company to report. The industry is not expecting much good news from Wynn, Sands, MGM or Melco; but the analysts were eager to see what Wynn had to say because of the implications for the others. Wynn reported sharp declines in profit and revenue, primarily due to the revenue in declines that all the casinos in … [Read more...]

So Nevada's law requiring a one-year "cooling off" period for casino regulators doesn't mean what it says after all. Rather, what the law says depends on who's asking what it says. So says the Nevada Commission on Ethics. In the latest addendum to Nevada's long, disgraceful history of favoritism toward the politically powerful, Pat Mulroy, the former longtime general manager of the Southern … [Read more...]

In negotiations and card games, it’s never a good idea to show you’re rattled. Steve Wynn, of all people, should know that. Shares in Wynn Macau have fallen 8.4 percent since Oct. 15, after the casino mogul took the Chinese territory’s gambling authorities to task for the sluggish pace of gaming approvals. It’s “outrageous and ridiculous” that his rival Melco Crown didn’t yet know how many … [Read more...]

It's a good thing Wynn Resorts Ltd. elected the longest serving U.S. Ambassador to China to its board of directors last week. The company needs some diplomacy to repair the damages after Steve Wynn's hourlong tirade against Macau gaming regulators on a conference call with analysts. "I don't know that this has been the most satisfying quarterly phone call we've ever had, but at least it's … [Read more...]

Turns out, Steve Wynn should have been more scared of the Chinese all along. The casino mogul unloaded on a conference call with analysts last week, complaining he can't properly plan for the opening of his new $4 billion Macau casino known as the Wynn Palace. In part, the delays have to do with a limit on the number of table games the casino will be allowed. Wynn called the process … [Read more...]

In the past few weeks, the fantasy sports business learned it was facing an FBI probe, an investigation in New York, a ban in Nevada, inquiries from Congress, multiple lawsuits, and a raft of alarming questions about the misuse of confidential data. It also had its most prosperous weekend ever. That's a paradox familiar to enthusiasts of slot machines and lotteries: Gambling is treacherous, and … [Read more...]

Talk about a bad beat and a headache straight out of "The Hangover." Las Vegas publisher Anthony Curtis' latest offering, "Fantasy Sports, Real Money," goes to press next week. Written by award-winning journalist Bill Ordine, it's the inside story of how fantasy sports exploded into a multibillion-dollar enterprise in a few short years. That's the good news. The bad news? The computer-driven … [Read more...]

Alex Bumazhny used the big stage of the Global Gaming Expo to cast some doubt on the regional casino markets. Bumazhny, lead gaming analyst for Fitch Ratings Service, said the reasons often cited for growth in regional casino operations — improvements in the U.S. economy and positive trends for consumers, such as low gasoline prices — actually "mask the secular shifts" and could keep the … [Read more...]

The fantasy sports industry is under siege. Almost every day another lawmaker or agency announces a hearing on its legal foundations or an investigation into its business practices. On Tuesday, U.S. Congressman Frank Pallone Jr. and Senator Robert Menendez, both New Jersey Democrats, argued for new safeguards. A day later, the Wall Street Journal reported that the FBI and Justice Department had … [Read more...]

Today, the New York Times published a lengthy exposé on illegal gambling in America, with an emphasis on illegal online sports betting and the growing daily fantasy sports industry. The investigative report is consistent with the AGA’s message: illegal gambling is rampant in America, funds criminal activities, lacks integrity and fails to protect consumers. This stands in stark contrast to the … [Read more...]

It was just a few weeks ago. The San Francisco 49ers looked unbeatable. DraftKings (DK) and FanDuel (FD) were leading the league of television advertisers. All three looked like sure winners for the 2015 National Football League season. A lot has happened since then. The 49ers have been exposed as pretenders to the throne. The once promising quarterback is struggling and both the defensive and … [Read more...]

Amaya Inc.'s $4.9 billion wager is about to pay off. New Jersey gaming regulators, after an intensive licensing investigation that lasted more than year, gave PokerStars approval to offer Internet gambling in the state on Sept. 30. PokerStars is viewed as the elixir that could revive the stagnant U.S. Internet wagering market that never lived up to its predicted lofty financial … [Read more...]

As they say in poker, If you’ve been in the game 30 minutes and don’t know who the patsy is, you’re the patsy. -- Warren Buffett By now, you may have heard about the insider trading scandal at the two biggest fantasy sports companies. DraftKings employees, based on the bets they saw laid down by their clients, made a killing at competitor site FanDuel. Let’s get one thing out of the way: … [Read more...]

Pope Francis, President Obama and Donald Trump are masters of the double-down, at least according to media reports. Writing about the visit to America by the leader of more than a billion Catholics, a Reuters blog advised him to “double down on his pastoral emphasis on the love and mercy of God,” while the Huffington Post said the pontiff fulfilled calls to “double down on his call for … [Read more...]