Commentaries

Save for a few small companies, Wall Street has thrown in the towel on slot machine manufacturers for 2014. Without new hotel-casino openings (other than The Cromwell and SLS Las Vegas) and a slot machine replacement market that analysts term “nonexistent,” the investment community has been advised to view the gaming equipment sector with caution. Janney Capital Markets gaming analyst Brian … [Read more...]

Last Wednesday the following story appeared in the Wall Street Journal: Online Gambling Suffers Setback - American Gaming Association Withdraws Support, Citing Differences of Opinion. During a WSJ interview (at G2E Asia) Geoff Freeman, president and CEO of the AGA, said that the group can no longer support online poker legalization due to disagreements among their membership and the entire … [Read more...]

There has not been much good news for the casino industry lately and sometimes even the good news is not really good. For example, two jurisdictions reported an increase in gaming revenues in April. Atlantic City reported an increase in revenue for the first time in years. The casinos in Atlantic City once again reported less revenue for the month, but when the online gaming revenue is added in, … [Read more...]

Chad Barnhill carefully maneuvered visitors through an active construction site Monday that is quickly becoming the $442 million Horseshoe Casino Baltimore. He paused in front of floor-to-ceiling windows on the second floor. In clear view was M&T Bank Stadium, home of the National Football League’s Baltimore Ravens, seemingly as close as a couple of Joe Flacco passes. The windows open … [Read more...]

Just as the recession began to grip Las Vegas in 2008, gaming executive Terry Lanni made a prediction. During an interview at his offices in the Bellagio, Lanni said a Las Vegas market recovery was not going to be like any other time tourism and gaming businesses experienced a downturn. After the terrorist attacks of Sept. 11, 2001, it took 18 to 24 months for tourists to get comfortable … [Read more...]

AGA’s upcoming event G2E Asia, held in partnership with Reed Exhibitions, has grown rapidly in just the past few years, mirroring the growth of the Asian gaming market. AGA is proud of the value that this show provides to gaming professionals by facilitating connections and building a better understanding between United States and Asian gaming professionals. The 6,500 anticipated attendees to … [Read more...]

The Beatles broke up in 1970. Only two of the original band members are still living, and occasionally recording and touring. The band is considered to be a 1960's phenomenon, yet its music and personalities enjoy widespread, loyal fan support today. So perhaps it’s not surprising that there are two successful, yet quite different, Beatles-related productions in Las Vegas. Cirque du Soleil's … [Read more...]

Anytime the investment community gets downwind of a potential hiccup in the Macau gaming market, a slash-and-burn mentality sets in. The victims are often MGM Resorts International, Las Vegas Sands Corp. and Wynn Resorts Ltd. The Las Vegas-based companies have subsidiaries listed on the Hong Kong Stock Exchange and those stock prices usually take a beating. Sometimes, the companies’ share … [Read more...]

A week or two ago, it seemed as if Massachusetts had settled down and the casino licensing process was becoming something close to normal. But last week, the Massachusetts process erupted into a circus-like atmosphere. A circus is probably a politically incorrect metaphor after nine performers in the Ringling Brothers and Barnum & Bailey Circus were injured in an accident in Providence, Rhode … [Read more...]

When MGM Resorts International announced plans in 2013 to rebrand The Hotel into Delano Las Vegas, company officials said the 11-year-old property would be given a new look from top to bottom. Details of the $80 million renovation were announced in late April and when the project is completed by September, nearly every square foot of public space inside the 1,100-room nongaming hotel will be … [Read more...]

Where exactly is the line between sports gambling and fantasy sports contests? While it must exist, no one seems to be able to pin it down. Last week, Intrade, a popular but controversial website that formerly offered wagering on everything from presidential elections to weather, re-emerged in a new, beta version. Now it is a US-based sports wagering site, and the distinction between sports … [Read more...]

The investment community long has expressed concern over the growing debt that weighs down many casino companies, most notably the $21 billion anchor around the neck of Caesars Entertainment Corp. Deutsche Bank gaming analyst Andrew Zarnett in April told investors that Caesars might have to sell or close properties to get out from under its obligations. He included $1.04 billion in debt that … [Read more...]

Blackjack, as a casino game, is an endangered species to my way of thinking. Not everyone will agree with me, but they will agree that blackjack has had a bad week. On April 29, a very high profile Hollywood actor was asked to leave a blackjack table at the Las Vegas Hard Rock. The pit boss told the actor, Ben Affleck he was too good and he would not be allowed to play blackjack at the Hard Rock. … [Read more...]

The next phase of Las Vegas starts today in, of all places, the Sawyer Building. Nearly a dozen representatives and executives from Genting Berhad, the Malaysia-based company that acquired the unfinished Echelon project on the Strip for $350 million 14 months ago, will face questions from the Gaming Control Board. The corporation and several of its entities seek a finding of suitability from … [Read more...]

Should an economic collapse ever ruin the U.S. dollar, you could still shop for your cataclysmic needs at the Zombie Apocalypse Store. Behind the door protected by wrought-iron bars and near a couple of machetes, black and orange signs read: “Bitcoin accepted here.” Monko decided to start dealing in Bitcoin about six months ago. He said he’s constantly mixing things up at the store. “I … [Read more...]

Remember the photo from the 2012 Summer Olympics of U.S. gymnast McKayla Maroney, standing on the medal podium after taking silver in the vault finals, arms crossed, lips pursed to the side, with a look of disappointment? The image became a viral Internet sensation known as “McKayla is not impressed.” The investment community might give giant International Game Technology the same disdainful … [Read more...]

Somehow, “What happens in Crimea, stays in Crimea,” doesn’t seem like an appropriate catchphrase. In April, a month after Russia forcibly annexed the Black Sea peninsula away from Ukraine, President Valdimir Putin said he wants to turn the territory into his own version of Las Vegas. He wasn’t talking about replacing “Thunder From Down Under” with the “Shirtless Putin Dancers.” Putin … [Read more...]

Neighborhood gambling giant Station Casinos hasn’t been shy about criticizing the Dotty’s chain. According to Station, Dotty’s doesn’t follow the law, blurs the lines between regular casinos and taverns and preys on legitimate gambling businesses. So it might come as a bit of a surprise to learn that Station Casinos allegedly tried to purchase Dotty’s. According to Susan Johnson, general … [Read more...]

Last week I had dinner with CDC Publisher Jeffrey Compton at the flagship restaurant at the El Cortez called Flame. (Note - Jeff has had a long-time professional relationship with the El Cortez.) I had never been to the El Cortez, but always admired its location and legacy. During our dinner Jeff mentioned that though the property is well-maintained and doing well, he was concerned that it, as … [Read more...]

Everything is constantly changing. Business, like all aspects of society, is dynamic and in a constant state of flux. The problem is not to understand change, but to anticipate the nature of the change. It is no secret that I believe the casino industry is at a critical juncture, a tipping point. To survive and remain viable the industry will have to change, re-engineer its business model and … [Read more...]

There is a reason analysts spent about 40 minutes questioning Las Vegas Sands Corp. officials last week about the company’s over-the-top results in Macau. It has to do with Confucius. During a conference call to discuss Las Vegas Sands’ first-quarter earnings — net income of $776.2 million on a single-quarter record of $4.01 billion in revenue — analysts didn’t ask a single question about … [Read more...]

In every gaming jurisdiction experiencing a long-term decline in revenues, casinos are being forced to cut expenses and restructure. The way a casino approaches the problem differs according to the management, location and conditions that created the problem, but there are some commonalities. Generally, the first order of business in a downturn is to cut all “non-essential” expenses, reduce staff … [Read more...]

About two weeks ago a news tornado blew through the casinosphere, when the Borgata Casino filed a federal suit against Phil Ivey, seeking to recoup $9.6 million that Ivey won playing baccarat in 2012. In case you don’t know the name, Phil Ivey, the number one rated poker player in the world, is sometimes called the “Tiger Woods” of poker. He has won nine World Series of Poker bracelets. Now Ivey … [Read more...]

  By now, everyone has read the stories of gaming communities struggling under the weight of the Great Recession and increased competition. The economy is improving, so gaming’s struggles must be related to competition, right? Economic downturns affect every business, but they pass and things get better. The impact of added competition is usually worse and longer lasting. The impact of … [Read more...]

Apparently, the only folks making money from the U.S.’s fledgling Internet gaming market are lobbyists. That won’t change anytime soon. Bills for and against Internet gaming continue to surface in statehouses and Congress, which means more billable hours for the lobbying sector. So far, the return on investment for casino operators that have launched Internet gaming operations in three … [Read more...]

Haggling over legislation to bring a casino to Chicago has become a springtime ritual. This time around, state Rep. Bob Rita, D-Blue Island, has dealt out two new amendments that just might get the job done. To our way of thinking, that's welcome news, but only if the talks in Springfield have no influence on City Hall's continued efforts to sharply reduce costs, especially the costs of … [Read more...]

Like much of Nevada, the casino industry is grappling with issues surrounding medical marijuana. So much so that gaming companies and regulators have had little to say publicly about doctor-prescribed pot. Medical marijuana has been legal in Nevada since 2000, but it took state lawmakers 14 years to allow dispensaries to operate. Now, with a state law in place calling for up to 66 potential … [Read more...]

In Chicago, Illinois on April 16th, the state gaming commission held a hearing on two proposed casino expansion bills. One would allow for an additional casino in Chicago with up to 10,000 gaming positions; the other bill proposal would authorize five more casinos in the state, including one in Chicago and slot machines at racetracks. Casino expansion comes up in the legislature every year in … [Read more...]

Celebrity magician Murray Sawchuck has been performing for the past two years at the Laugh Factory in the Tropicana. On a recent weekday, I attended his 4:00 p.m. show. I was perplexed that this well-branded and known talent only had an audience of 28 for a show in a venue with a capacity of 250. Sawchuck's 55-minute show was energetic, fast paced, and over-the-top with improv humor, audience … [Read more...]

Gaming industry set to create thousands of jobs, help small businesses and support public services in the Commonwealth. Washington — American Gaming Association President and CEO Geoff Freeman issued the following statement after Massachusetts Attorney General candidate Maura Healey announced her opposition to casinos in the Commonwealth based on outdated myths: “Ms. Healey's comments … [Read more...]

"Big Luther," Alabama's hyper-ambitious Attorney General Luther Strange, had been warned more than once. This page warned him. Other commentators warned him. If he had bothered to ask, members of the Alabama Bar Association most assuredly would have warned him, too. Nevertheless, Strange went to court to challenge the right of the Poarch Band of Creek Indians to operate their casinos on tribal … [Read more...]

While the Supreme Court’s decision to strike down limits on individual political donors captured the headlines last Wednesday, a new law signed by President Obama on the next day will also increase the political system’s reliance on wealthy donors. Known as the Gabriella Miller Kids First Research Act, the new law will provide increased funding for childhood disease research. In a rare sign of … [Read more...]

Winter’s long grip on the Midwest and other parts of the U.S. is finally subsiding. But even as the snow melts, regional gaming operators might have to wait for their bottom lines to warm up. Weather issues kept casino patrons at home in several states where companies such as Penn National Gaming, Isle of Capri Casinos, Pinnacle Entertainment and Boyd Gaming Corp. derive the bulk of their … [Read more...]

I recently attended the Donnie and Marie Show at the Flamingo Showroom with the understanding that they were soon taking some time off to allow for Olivia Newton John to begin her new "Summer Nights" show. Was it perhaps that Donnie and Marie Show ticket sales were in a decline as their market appeal to the fifty and older crowd was finally thinning and competitive entertainment options were … [Read more...]

Word that the U.S. Treasury Department may soon require the casino industry to report the source of gambling funds used by their big spending high-rollers sent a few shock waves through corporate offices. It wasn’t so much a rumble as it was a magnitude 7.0 earthquake. The move is part of a stepped-up effort by the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) to crack … [Read more...]

In early 2011, Don Johnson won more than $15 million playing blackjack at Atlantic City. Before he began, he negotiated a number of perks that moved the edge squarely to his side. The most valuable was a 20% rebate on his losses whenever he lost more than $500,000 in a day. These loss rebates had no minimum play requirement and reset after each day’s play. Johnson’s optimal winning strategy is … [Read more...]

The next big thing is coming, Las Vegas. At least, that’s what nightlife guru Jon Taffer said while getting ready for his annual Nightclub & Bar Show to open in late March. During an interview with the Las Vegas Business Press, Taffer noted that nightlife operator Jesse Waits said that he has come up with the next big idea — he just has to implement it. As co-owner and managing partner … [Read more...]

Gambling in England is not like it is in the United States. American gaming is governed by individual states and not by federal regulation, while gambling in England is regulated by the national government. And because of the difference, gambling in England is much more uniform than it is here. In the U.S., regulations are different in every state. Tax rates vary by state as does the size and … [Read more...]

The Salt River-Pima Indian Community has a real estate footprint in this city, 20 minutes east of downtown Phoenix, that makes the 67-acre CityCenter look like a strip mall. The tribe has built a “cultural and entertainment destination.” There is the 36-hole Talking Stick Golf Club, which was designed by noted golf course architects Bill Coore and Ben Crenshaw. On the opposite side of the … [Read more...]

While working on the Flash last Tuesday morning, I came upon the opinion piece “Las Vegas made a big, bad bet on casinos” – one of the nastiest anti-Las Vegas (and anti-gaming) commentaries I have read in a very long time. Written by prominent conservative columnist David Frum for the very prominent news website CNN.com, this over-wrought piece says that Las Vegas will never return to its boomtown … [Read more...]

Over the course of my career, I have watched the casino industry fight and lose more than one battle with the federal government. The first battle I remember was over silver dollars; it hardly seems believable today, but at one time silver dollars were in circulation in Nevada and they were popular. In fact, they were very popular – especially with dollar slot players. Somehow winning a bunch of … [Read more...]

Las Vegas is getting smaller. That is, if you call 1,600-room and 1,100-room Strip hotels “boutique” properties. By the end of the year, Las Vegas will have about a half-dozen hotel-casinos that operators classify as “boutique,” “luxury” or “lifestyle” in their marketing efforts. It’s actually not a unique concept. The Hard Rock and The Palms, for example, began as smaller … [Read more...]

The 29th Annual Nightclub and Bar Convention and Trade Show poured it on in style at the Las Vegas Convention Center. There was something for every interest and beyond. Jon Taffer, Executive Producer and Star of Spike TV's popular show "Bar Rescue" along with his team served up an event that would appeal to the record breaking 41,000 attendees and to most anyone else who patronizes clubs and bars. … [Read more...]

ou have to hand it to online gaming giant PokerStars. Despite setback after setback, the Europe-based company won’t give up on its quixotic quest to break into the fledgling U.S. Internet gaming market. After failing in Nevada and New Jersey, the new target is California. But odds are PokerStars is once again drawing dead. The company, operated by the Isle of Man-based Rational Group, … [Read more...]

Over the past month I have been reading negative articles about Ohio casinos, specifically about the distribution of casino tax dollars to local school systems. Counting on casino revenue? Local governments told it’s risky Casinos fall short of vows to voters How much casino money do schools receive? To believe these reports, the checks are nowhere near what the school systems expected, … [Read more...]

Massachusetts came late to the gambling game. Actually, Massachusetts is not quite there yet; it is still in the process of getting into the game. The fact that Massachusetts is so late entering into casino gaming might lead one to think the process in the Bay State would be easier than in other states. After all, Massachusetts has the benefit of the experience of thirty-eight states with casinos … [Read more...]

There is a target on the back of slot machine manufacturer International Game Technology. Despite first-quarter results that were well received by investors, at least two analysts raised concerns in recent weeks that IGT could be bleeding away slot machine market share to the competition. Credit Suisse gaming analyst Joel Simkins said IGT’s stock price — which has fallen 28 percent since its … [Read more...]

Back in 1995, the news crew of 48 Hours followed Brad and me around Las Vegas, filming as we played video poker and reaped comps. On the air, Dan Rather dubbed me the “Queen of Comps”. By then I had been honing my comp skills for more than ten years. After retirement, Brad and I stayed in comped casino hotel rooms in Las Vegas for months at a time. Our low-roller play on quarter video poker not … [Read more...]

Million-dollar fines for violating Nevada gaming law used to be rare. But in the past 15 months, state casino regulators have accepted three separate seven-figure payments from gaming companies to settle Gaming Control Board disciplinary complaints. That’s the same number of seven-figure fines the state had issued in all of the previous 28 years. Regulators in December and again last week … [Read more...]

Last week I ended my column on senior gaming with “I do admit to being concerned that nearly half the casino visitors in 2012 are over age 50. I’m not concerned for the visitors, but for the casinos and the industry as a whole. That concern is not over compulsive gambling, but about the aging audience – but that is a subject for another column or more.” At the time I did not intend to … [Read more...]

It is never easy to understand a complicated issue and the gaming industry in the 21st century has certainly become complicated and confusing, at least for me.  To help myself understand gaming and other things I put Adams Daily Report events into narratives. Looking at the news every day, I develop narratives in my mind about the day’s news.  Sometimes I extend a narrative past one day and make … [Read more...]

It’s been eight years since Macau surpassed the Strip in annual gaming revenue. So it makes sense that the region — the only location in China with casinos — is creating more gaming industry billionaires than Las Vegas. The recently released Forbes 2014 List of the World’s Billionaires shows a large proportion of the wealthy who cite gambling, gaming or casinos as the source of their income … [Read more...]

New visitors to the El Cortez some years ago would have been forgiven for failing to spot the owner of the downtown casino. He wasn’t a fresh-faced CEO or a consummate corporate type with an MBA. On the contrary. He was the affable old fellow in the loud sport coat who moved through the slot bays picking up cocktail glasses and emptying ashtrays while keeping up a playful patter with customers … [Read more...]

A New York-based hedge fund acquired a 5 percent ownership stake in Boyd Gaming Corp. last week and immediately fueled rampant speculation in the investment community. Scenarios ranged from a corporate takeover to moving the company’s casinos into a real estate investment trust. Don’t expect a quick resolution. Elliott Associates, controlled by financier Paul Singer, said in a Securities … [Read more...]

Earlier this week the Concord Monitor ran a column by Paul Davis, an anti-gaming advocate at the Institute for American Values, entitled “My turn: Casinos prey on elderly residents”. The column discussed an elderly New Hampshire widow who moved to Arizona in 2004 and, over the course of eight years, gambled away a considerable amount of money (for her) at a local casino. Her family members were … [Read more...]

Holders of music, film and television copyrights are on the verge of becoming victims of US prohibitions on online play. After a decade-long trade dispute over remote online gaming, the small Caribbean nation of Antigua and Barbuda is now planning the lawful taking of $21 million of US entertainment industry intellectual property per year. This development results from a complaint filed by … [Read more...]

Since their public opening at the MGM Grand Resort and Casino early last January I had been reading and hearing a variety of reviews about Jeff Beacher's Madhouse so I finally decided to purchase my general admission ticket online and experience this unique entertainment option. They have years of a successful run under the identical theme and branding at the Roosevelt Hotel in Hollywood and is … [Read more...]

Nothing is simple when it comes to Caesars Entertainment Corp. Take last week’s announcement that the company is selling four casinos to its Caesars Growth Partners subsidiary for $2.2 billion. Some analysts worried the deal would diminish the parent company’s results. Caesars is giving up valuable revenue and cash flow from three Strip casinos and Harrah’s New Orleans to a subsidiary in … [Read more...]

Indian gaming is twenty-six years old and for all of that time, its existence has been contentious. That is not surprising as the entire history of Indian tribes with the federal and state governments has been contentious. Popular myth tells of the first pilgrims stranded alone, hungry and cold in an alien land where they found help and friendship in the local Indian tribes. It was a short and … [Read more...]

In 1994, one evening and late into the night during the annual gaming show, I was walking the floor of the MGM Grand.  I was tired and wanted to go to bed, but could not resist exploring just one more casino.  Every year, those walkabouts were one of the most important aspects of attending the gaming trade show, not just for me but for all attendees.  Everyone went out scouring casinos, hoping to … [Read more...]

MGM Resorts International is showing investors what a 51 percent ownership stake in its publicly traded Chinese subsidiary means financially to the casino operator’s business back home. At least $320 million this month alone. The figure is MGM Resorts’ share of some $628 million in quarterly and special dividends that MGM China will award to shareholders this month. The business, traded on … [Read more...]

Florida is back in play, but no one really seems to care. Last month, legislation was unveiled that could bring Las Vegas-style casinos to South Florida — one each for Miami-Dade and Broward counties. Local voters in both communities would have to approve the resorts through referendums. The legislation would allow racetracks outside current South Florida racinos to add slot machines and … [Read more...]

On February 25th, voters in Revere approved Mohegan Sun’s plan to build a $1.3 billion resort at Suffolk Downs.  Voter approval is one of the most important steps in the Massachusetts casino license process and this vote is particularly important.  If Mohegan/Suffolk wins a license it will be in essence the Boston casino license. It will be the most lucrative of the three casino and one slots-only … [Read more...]

(Bloomberg) -- The first thing to point out about the meltdown of the Mt. Gox Bitcoin exchange is that this is hardly the first time that massive amounts of currency have been stolen, or that a financial firm has shut down and left its depositors with basically nothing. This is not somehow unique to Bitcoin, or a fatal flaw in its design. The second thing to point out about the meltdown of the … [Read more...]

The run-up to the Kentucky Derby 2014, which is on the 4th of May this year, began on Saturday the 2nd of February with the Risen Star Stakes at Fair Grounds in New Orleans and the Fountain of Youth Stakes at Gulfstream Park in Florida. Kentucky Derby is still a big event attracting large crowds every year, which has no problems selling out tickets for the big day. However, in recent years horse … [Read more...]

The nation faces a dangerously seductive form of gambling, as cross-border, high tech telecommunications networks threaten to siphon money out of homes across the country. The problem is getting worse, and the states, with the constitutional mandate to regulate gambling within their borders, are indifferent or worse. The only solution is for Congress to act now. It took years, but Congress … [Read more...]

Lost in the heated rhetoric over the expansion of Internet gaming is a harsh reality. Legal online wagering has not been the financial windfall many analysts predicted. Initial returns from the three states that enacted Internet gambling laws are not overflowing the balance sheet. New Jersey’s online revenue is a letdown. Delaware’s figures are inconsequential. Nevada won’t break out … [Read more...]

In his recent commentary Is the Internet Ready for Casino Gambling?, my colleague Ken Adams discussed the recent history of Internet Gaming. He also discussed recent incidents of Internet hacking, primarily to the Las Vegas Sands website but also to several companies in other industries. He concluded that “the casino industry might be ready for the internet, but the internet is not yet ready for … [Read more...]

The internet gambling story gets more interesting by the day.  For the last few years, internet gambling has been mostly a side story.  It was important, but not a dynamic story; not much happened from day to day or even month to month.  The story started to gain momentum in December of 2011 when the Department of Justice issued an opinion on the Wire Act that opened the door for individual states … [Read more...]

As I write this column the Las Vegas Sands website has been down for six days. Over those days a plethora of ideas has gone through my head – plus some decisions about emergency planning for my very small business. Who did this and why? I know little about website hacking, so I started my questioning with my own technical director (Cory Roberts) and web designer (Jill Merk), and went from … [Read more...]

If there’s one thing we learned from last week’s telephone press conference by the Coalition to Stop Internet Gambling it’s that all five speakers “were honored” to be on the 45-minute call. They said so, several times. That, and Internet gambling is responsible for every ill known to mankind. The paid representatives for the Washington, D.C.-based coalition — funded by Las Vegas Sands … [Read more...]

It has been a really cold winter this year and the weather is affecting gaming revenues all over the country.  Pennsylvania, Ohio, Missouri, New York and Indiana all reported lower year-over-year gaming revenues in January and each blamed the cold weather for the decline.  But no one mentioned the weather when reporting Atlantic City’s gaming revenues for January.  The Atlantic City story for … [Read more...]

Patricia Becker holds the distinction of being the first woman to serve on the Nevada Gaming Control Board. She’s actually the only woman to ever hold a seat on the regulatory panel. Twenty years have passed since then-Gov. Richard Bryan elevated Becker from chief deputy attorney general in charge of the gaming division to one of three Control Board members who oversee the full-time state … [Read more...]

The gaming debate is back on in Florida; it debate took a two year hiatus.  It is about time it came back, we need something exciting to follow.  For far too long, Massachusetts has dominated the expansion narrative in the media.  Even New York could not dislodge Massachusetts.  Probably New York could not unseat Massachusetts because there was simply no drama in New York.  There was no name … [Read more...]

Monday was the busiest day in the history of the CDC Gaming Reports website. Fueled by interest in the Super Bowl over 1,400 people visited the site – with over 2,300 page views. However it was two other stories that caught my eye: Wynn joins Adelson crusade against web gaming (in respected political reporter Jon Ralston’s blog) and from the equally respected Wayne Parry (Associated Press) NJ … [Read more...]

MACAU (AP) - In a scene from the James Bond movie "Skyfall," the British superspy arrives in Macau aboard a small raft that glides under an arched bridge, past hundreds of floating paper lanterns and through an illuminated dragon head to reach a casino. When I made the trip to the tiny Chinese gambling mecca at the height of the Lunar New Year holiday on Monday, it was decidedly less … [Read more...]

Did you seriously think Las Vegas was going to lose the National Finals Rodeo to Orlando, Fla., or Dallas? After six weeks of back-and-forth rhetoric, a new 10-year agreement was announced Jan. 24 to keep the NFR in Las Vegas — its home for 29 years — through 2024. Cowboys and stock contractors will get about $6 million more a year in prize and sponsorship money. The hotel-casino industry … [Read more...]

The European Casino Association (ECA) represents the interests of approximately 800 companies operating in 23 EU countries, with more than 55,000 employees. In November 2013, ECA issued its first comprehensive report on the casino industry in Europe, using information provided by its members and the National Casino Forum, UK. European casinos have struggled in recent years, with causes … [Read more...]

In the 21st century, poker has become big business.  It is played online, in casinos and in free standing poker rooms.  Poker has been played in this country for a very long time. Poker has had a checkered past; it has been legalized and banned, it has been commercially successful and it has been a backroom, private game only.  In the 1970s, poker was a mainstay in Nevada casinos, but with the … [Read more...]

Impact is one of my favorite typefaces – because it delivers on its promise – it has an instant impact on the reader.  But Impact is fast becoming much more than a typeface for me.  Impact is becoming the dominant theme in the national gaming narrative.  Like the typeface, the impact theme demands attention; however, it is not one of my favorite themes.  Take Ohio for example. Even as new casinos … [Read more...]

New casino development in Las Vegas is on lockdown. Gaming expansion into states beyond recently approved markets is virtually nonexistent. Those are two reasons regional casino giant and M Resort owner Penn National Gaming struck a deal with a San Diego-area Indian tribe to develop a long-stalled casino complex in Southern California. A third reason is simple. Penn National, which has … [Read more...]

In recent months CDC Gaming Reports has run several news stories and one commentary expressing the fear that a casino expansion could hurt a region’s performing arts. Since I have a personal and professional interest in both gaming and the arts (five years ago I wrote a guidebook on American performing and visual arts, and built a related website), I can’t ignore expressions of that fear. To put … [Read more...]

It’s game on, Japan. Word leaked out this past week that two Nevada casino companies have made inroads with Japanese officials to build a nearly $5 billion hotel-casino in Osaka. Now other gaming operators have their corporate jets pointed toward the east Asia island nation. The only thing missing is legislation authorizing casinos. Analysts and gaming leaders consider it a foregone … [Read more...]

There are undoubtedly cities in New York that can benefit from a casino.  Saratoga Springs, however, is not one of them. In 2013, the State of New York decided that a quick way to fill its fiscal coffers was to get a number of casinos to open, as soon as possible, in the upstate area.  With the gambling industry outspending opponents by millions of dollars, a statewide vote authorized the … [Read more...]

It is budget time in New York and gaming is in the budget.  Governor Andrew Cuomo’s budget proposal anticipates casinos opening by January of 2015.  There is no time to waste, the state needs the tax money those casinos will generate as soon as possible.  Cuomo is not planning on any long delays, stumbles or bloody battles at the ballot box or in the competitive trenches that has marked the … [Read more...]

I am 59 years old today – and could not be more thrilled. And in six months I expect to be telling folks that I am “going on 60” because I like the sound of that. I have never been concerned about how old I am – plus there can be a wonderful feeling of contentment that comes at this age (Maurice Chevalier expressed it best over 50 years ago.) Thanks to the advances in technology (including … [Read more...]

There is a reason officials from CG Technology (formerly Cantor Gaming) said they were “glad to have reached a resolution” with Nevada gaming regulators and will pay the largest fine ever leveled against a casino or affiliated company. The Las Vegas-based bookmaker — a subsidiary of Wall Street financial giant Cantor Fitzgerald LP — faced a potential death sentence by the state Gaming Control … [Read more...]

It is being reported that HBO has decided to stop producing Boardwalk Empire after its fifth season.  The HBO series was based the book Boardwalk Empire: The Birth, High Times, and Corruption of Atlantic City by Nelson Johnson.  It is a story of politics, crime and corruption during Prohibition in Atlantic City.  Five seasons is not bad, not great, but not bad.  Although the lifecycles of … [Read more...]

The collegiality developed within the gaming industry as casino companies weathered the economic downturn has evaporated. Opposing opinions are healthy to any debate, especially when the topics include casino expansion into new markets and the potential state-by-state rollout of Internet gaming. But simmering feuds and positions perceived as harmful to gaming can be detrimental to an … [Read more...]

How cold was it? It was cold enough for two casinos to close; that is the good news.  The bad news is worse; casino revenues in December dropped faster than the temperatures in January.  As everyone in the world knows, the entire eastern part of the country was wrapped in a polar vortex.  Temperatures dropped below zero and with the wind chill factor, temperatures were as low as 20, 30 or even 40 … [Read more...]

In a recent research note, J.P. Morgan gaming analyst Joe Greff said MGM Resorts International offers “fresh ideas” for stock investors exploring their options in the new year. And that was before the casino company cleared several giant hurdles in December for building two potentially lucrative gaming complexes in the Northeast. With almost $3 billion in developments looming in Macau and … [Read more...]

Sheldon Adelson is not the most popular person in the industry.  He is said to be a very harsh manager, a very demanding negotiator and very critical of his competitors – but with his very high profile he is difficult to ignore.  Early in 2013, Adelson shocked many observers in the gaming industry when he announced his intention to build a $30 billion project in Spain, and then he shocked them … [Read more...]

Both personally and professionally, I am happy to look back on 2013 as a very good year, and look forward to a better one in 2014. This year CDC Gaming Reports increased our website traffic by 325%, continued our collaboration with the Associated Press and the Las Vegas Review Journal, and have just added Bloomberg News. We expanded our commentary section (including Good Gaming Humor), … [Read more...]

Last week, in a widely anticipated decision, Maryland authorities awarded MGM Resorts the state’s sixth and final casino license. MGM will use that to build a massive Vegas-style facility at National Harbor, just south of Washington, DC. While the decision was celebrated by MGM, which expects the prized new resort casino to be among its most profitable, it was yet another significant defeat for … [Read more...]

In the last twenty-five years, many states have discovered that when properly managed legalized gambling can be a golden egg laying goose.  The states have had many options from which to choose: lotteries, casinos, slot machines, poker, sports betting, bingo, horse racing and most recently, online gaming; any of those options can be tapped to bring revenue into the state’s coffers.  But the … [Read more...]

Rather than having only International Game Technology executives tout the company’s products to the investment community, the company put its customers on the hot seat. The move could have backfired. But it didn’t. Several analysts attending IGT’s annual Investor Day presentation in New York City earlier this month said the customer panel — which included a Canadian gaming official, three … [Read more...]

If you haven’t heard some version of this as a joke, you probably will:  “How sad, I will not get a billion dollars for Christmas this year or even half a billion.  I had my hopes; I owned 50 percent of 20 Mega Millions lottery tickets for the drawing on Tuesday, December 17th.  But alas, the Mega Millions jackpot hit – there were two winning tickets – neither of which was mine.”  None of us … [Read more...]

One of the ways we measure the health of the casino industry and track its trends is with the monthly casino/gaming revenue; each state with casinos releases the monthly revenue numbers separately and in different formats.  The state reports paint a picture of the state of the industry for the previous month in that state.  The monthly gaming figures are released in Atlantic City on the tenth of … [Read more...]

I 've always received straight A’s in history, but for some reason could barely pass Geography – it has never been my topic. In last Thursday's Flash when writing about their $28 Million expansion I accidentally moved the Oneida Casino (on paper) from Wisconsin to New York. There is no excuse for it, I have visited the property (located in Green Bay) quite a few times and should remember where the … [Read more...]

Anyone trying decipher subliminal messages from the early November policy address by Macau’s top government official would have an easier time determining whether the Beatles were secretly telling us Paul was dead through the “Abbey Road” album cover. Both ideas are urban myths. Macau Chief Executive Fernando Chui wasn’t sending hidden signals when he delivered his 2014 annual speech to the … [Read more...]

In September 2013, the City Council of Venice agreed to privatize the operation of the city's two gaming sites. The company which will run the world's oldest casino is to selected by the end of this year, by a public bidding process. The buildings themselves will remain owned by the City. The Venice Casino has been in a long-term decline. The number of visitors has reached an all-time low, and … [Read more...]

It is no secret; the cat is out of the bag. Online casino gaming has officially arrived.  New Jersey’s entry into online gaming kicked off a new era for the gaming industry.  Granted, Nevada and Delaware both began online gaming before New Jersey, but neither have enough people or a wide enough range of betting options to really test the new frontier.  New Jersey is better suited for that task.  … [Read more...]

It has been two years since the enabling casino gaming legislation passed in Massachusetts and nothing has happened.  That is not exactly accurate as lots has happened, but no casinos have been built. In fact none have been licensed.  The enabling legislation requires community approval, a two-step process, before a casino can be built.  A casino company wishing to bid for a license must first … [Read more...]

I was eight years old, in the third grade – and about to begin a rare Friday afternoon off from school, because there was teacher conferences at Adrian Elementary that day. I was playing with a friend on the third floor of our home in South Euclid Ohio when my mother came up the stairs screaming “The President has been assassinated.” “What does assassinated mean?” I asked. “He was killed, he’s … [Read more...]

Horse racing is probably a bad analogy for an election, but it paints the right picture for the moment.  According to the British bookie, William Hill, the 2016 campaign for president of the United States has officially begun with the first major wager being placed on the election.  The odds that Hillary Clinton will be elected currently stand at 5-2. Hill moved the odds on Ms. Clinton from 2-1 to … [Read more...]

If Jeffrey Compton would ever be accused of promoting gambling it won’t be over blackjack, horse racing, sports betting or even video poker; my weakness and joy is election wagering. Today’s is an off-year election with only two governorships up, no senate seats, maybe the odd house seat but a host of interesting local issues – including four important casino related expansion measures on the … [Read more...]

The casino gaming news these days is filled with stories of expansion. Florida, Massachusetts, Maryland, New Hampshire, New York and Pennsylvania all have expansion on their radar screens. New Hampshire is working on new regulations as a prelude to expansion and Florida is studying the issue. Massachusetts, Maryland and Pennsylvania are in the process of granting casino licenses. Maryland only has … [Read more...]

Has there ever been a gaming company that suffered through a worse 72-hour period than Caesars Entertainment Corp.? On a Friday evening, Caesars was punted from a proposed $1 billion project in Boston. Then the company was forced to dump its licensing partner in a $185 million Strip casino renovation. Hours later, Caesars had to report in a filing with the Securities and Exchange Commission … [Read more...]

Caesars has some serious issues, but the reason it withdrew from Massachusetts should not be one of them. Caesars has been in the news a lot lately and most of it has been negative. The latest flurry of Caesars news was initially generated by Caesars’ decision to drop out of the Suffolk Downs’ bid for a casino in the Boston area. Both Suffolk Downs and Caesars agree on the details. The … [Read more...]

Although the signage changes with increasing regularity, names are important things in the casino business. So it came as a relief to learn that Caesars Entertainment Corp., as the Review-Journal reported Monday, had decided to dump the Gansevoort Hotel Group from its planned redevelopment of the casino once known as the Barbary Coast. A name that communicates a hip and classy image on Park … [Read more...]

At first glance, the homepage of FanDuel looks like an online sports casino. But the company, which paid out $50 million in winnings in 2012, is not a traditional online sports bookie. Rather, FanDuel is a fantasy sports website, offering a popular and controversial new genre of wagering contests known as “daily games,” in which players select fantasy “teams” consisting of real-life players and … [Read more...]

Nevada is a very small state with an estimated 2.7 million inhabitants in 2012.  Seventeen states have fewer people, but only eight have more land.  That sums up Nevada, few people, but lots of land – desert land.  In a barren land, you when meet another traveler, it is important to stop and talk for awhile; it may be a long time before you see another living human being.  There are two urban … [Read more...]

In his far-too-short tenure as CDC Gaming Reports Flash Editor, the late Jeff Simpson repeatedly told me “Check out which news stories our subscribers click and read. It will improve the products, plus you will learn a lot about the industry.”  He was right on both counts. Through the wonders of web technology, I am able to see which of the two-dozen stories we feature each day (in the Flash or … [Read more...]

One fact stood out at G2E 2013; slot machines are getting bigger.  In fact, compared to the little boxes of the 1950s slots that provided the basic DNA for today’s games, they are gigantic monsters.  And like the dinosaurs, the long-gone animal monsters that once dominated the planet, today’s gigantic slot machines need a great deal of territory and sustenance to survive.  Seemingly, every year … [Read more...]

In the era in which we live, the media panders to the basest elements of human nature.  It chooses subjects that titillate us, rather than subjects which might inform us.  Every day on internet news sites, in the print media and on television, we are bombarded by the trite and the sensational – in depth or to use the Latin phrase – ad nauseam – until we are nauseated.  The media follows ordinary … [Read more...]

Gaming Industry Colleagues— As you've no doubt heard, Congress failed to reach an agreement on funding for the federal government and all non-essential functions entered a "shutdown" as of midnight this morning. No one in Washington has a good sense as to how long this shutdown will continue (despite the countless pundits who dominate your television). The American Gaming Association is … [Read more...]

G2E 2013 was huge; nearly 30,000 people attended. In attendance and in expo space being used, G2E 2013 approached pre-recession levels.  The attendees did what people have been doing at G2E and its predecessors for years; G2E is an annual industry tradition, it has its rhythms that everyone acknowledges and follows.  In the mornings they listen to discussions on the industry, in the afternoons … [Read more...]

As she made her way through the Sands Expo Center, the most dangerous woman in Las Vegas easily passed for one of the thousands of attendees at last week’s behemoth Global Gaming Expo convention. In a town where showgirls and Celine turn heads, straight-talking Jennifer Shasky Calvery in her business attire blended into the crowd. It’s what Shasky Calvery, the director of the Department of … [Read more...]

G2E is getting ready to open its doors on its 2013 edition, the gaming/casino industry’s annual trade show.  For three days, twenty thousand or so people from around the world will gather in Las Vegas to listen to discussions on the industry and to view the products that constitute the “games” of the gaming.  On the top of everyone’s list of new products will be the slot machines – hundreds of new … [Read more...]

In the gaming industry, regulation does more than control the gaming activities; regulation also limits and defines legal gaming and the nature of a casino. Las Vegas and Atlantic City casinos are byproducts of each state’s gaming regulations.  The size and scope of the Las Vegas Strip would not have been possible with New Jersey regulations; Atlantic City could never have developed an east coast … [Read more...]

On September 10, the Las Vegas Review-Journal had a touching story about Bob Vannucci. According to Richard Lake, Vannucci is in hospice care and does not have long to live. His last wish was a romantic dinner with his wife. Bob and his wife, Nancy, met and married in 1967 when both worked at the Dunes. Bob’s career in gaming spanned the same 46 years as his marriage. Both the marriage and the … [Read more...]

Dennis Gomes led a romantic life. He died in 2012 in the midst of an attempt to turn around the struggling Resorts Casino in Atlantic City.  It was the last act of a 40-year career of swimming upstream against common practices and wisdom. In the first act, Agent Gomes was a Nevada gaming regulator who moved in a dangerous zone between the world of mobsters and casino bosses. He was instrumental in … [Read more...]

Wherever he goes and whatever he does, Steven Wynn attracts attention.  Of course, the main reason people are interested in the comings and goings of Wynn are his casinos.  Any time a new Wynn casino opens it is international news.  It is news because a Wynn casino means features and concepts that are unique to the industry; a new Wynn casino is a game changer.  Besides the realities of Wynn’s … [Read more...]

Wisconsin was one of the first states to agree to Indian tribes casinos.  That the casinos were to be on traditional tribal land was an underlying assumption.  By June of 1992, Governor Tommy Thompson had finalized the last of the 11 tribal-state compacts and Indian gaming in Wisconsin was off and running.  In the early years of Indian gaming there was still considerable confusion about what … [Read more...]

On Thursday, August 22nd, 50 people were injured when a bus bound for San Manuel Indian Bingo & Casino in Highland, California overturned.  These days it takes a bus accident before the topic of “casino buses” interests anyone beside the bus operators, the bus riders and the casinos footing the bills.  Busing has become something very different from what it started out to be. Long, long ago in … [Read more...]

Numbers alone and by themselves are meaningless if they no context, comparison or accompanying narrative.  We need something more than the numbers themselves to give them meaning.   So, for example, to say that the casinos in Mississippi generated $192 million in July does not give one much insight into the casino industry in Mississippi.  To give any set of financial numbers context we normally … [Read more...]

Understanding another culture is nearly impossible, but it is far more difficult when you are thousands of miles away with nothing but a few scattered newspaper articles for information.  Even when the culture is your mother culture, it is a challenge; Great Britain, the United Kingdom – dear ole England – gave the United States a great deal; it handed us our language, the foundations of our … [Read more...]

The casinos in Ohio are in giving free play a serious test run.  In July, some of the casinos gave away as much as 30 percent of casino “win” in free play.  That is a foretaste of some of bloody marketing battles yet to come  The battles will be fought not just in Ohio, but all around the region.  Those marketing wars are just beginning; over the next few years the competition between casinos in … [Read more...]

From the opening bell on May 26, 1978, the casinos in Atlantic City were successful.  In its first year, Resorts generated $134 million in gaming revenue and by 1981 there were 9 casinos in the boardwalk city generating over a billion dollars a year in annual gaming revenue; in 2006 AC gaming revenues reached $5.2 billion; however, 2006 was the peak and the last year of the growth.  Since then … [Read more...]

The July gaming numbers are in for Ohio.  The casinos which were open in July of 2012 were down in July 2013.  The Horseshoe in Cleveland was down 17 percent – about the same as the casinos in Indiana have been down since the first casinos opened in Ohio.  The Horseshoe Cleveland Casino grossed nearly $19.9 million last month…down 17 percent when measured against July of last year… ThistleDown, … [Read more...]

Horse racing has been a challenged industry (some call it a sport) since casinos started to spread out of Nevada and across the country.  In any state with racing as soon as casinos start to open in that state or in a neighboring state, racing revenues take a dive.  Looked at as simply a betting or gambling proposition, the decline is not difficult to understand; racing is boring compared to other … [Read more...]

The casino industry is dynamic. Nothing remains the same for long and those who fail to note that fact get left in the dust.  The famous trendsetters like Steve Wynn are always reinventing the casino experience and broadening both our concept of what constitutes a casino and their own.  At the moment, Wynn is off in Macau building a flower palace for $4billion dollars, but back at home in Las … [Read more...]

It is often argued that Wall Street is the cause of many of the worst of modern business practices. It is the world of Wall Street that puts a constant pressure on all publicly traded companies to increase earnings and profits every quarter; that pressure creates a culture of short-term, impatient for profit management.  The term Wall Street itself is a convenient label for an intellectual … [Read more...]

One of the side effects of the rapid expansion of gaming is a rapid expansion of gaming reporters.  Ohio, Pennsylvania, Massachusetts and Maryland have all spawned homegrown reporters with new assignments covering the gaming industry; and Macau has by itself has led to the minting of dozens of new reporters from all over the world eager to cover gaming.  Even the major news services, Reuters, … [Read more...]

There is a phenomenon taking place in Macau that reminds me of the 1980’s in Nevada casinos.  In Macau, the number of players is decreasing or remaining the same, but the average wager per player is increasing.  The wager is going up because the VIP operators are raising the minimum wager. How else to increase the profits?  Without increasing the number of players the only way to increase the … [Read more...]

A congressional committee, the U.S.-China Economic and Security Review Commission, is holding hearings on the impacts of economic practices on national security; and last week that mean money laundering in Macau.  Some of the committee members are thinking, as Bob Dylan once famously sang: “two men died neath the Mississippi moon, somebody better vestigate soon.” The committee is not so … [Read more...]

Today, Radio Iowa had an article that makes a perfect follow-up to my blog; The Law of Unintended Consequences and VLTs in Illinois.  The article is about casinos in Iowa not Illinois.  However, it mentions the VLTs in Illinois.  According to Radio Iowa the VLTs are impacting the casinos in Iowa that are close to the border with Illinois.  It is just that simple; people have a limited portion of … [Read more...]

Expansion in mid-2013 is still the major story in the casino industry.  Expansion into new states or within a state has often been driven by lawmakers looking for new sources of revenue to balance budgets.  But, there have been other reasons for expansion; in true democratic style, gaming sometimes expands by the will of the people and in a less democratic style by the will of the governor.  Ohio, … [Read more...]

Since 1978, it has been impossible to avoid comparing the cities and the casinos of Las Vegas and Atlantic City.   In the beginning they were the only American jurisdictions with casinos; but even as Iowa, Colorado, South Dakota, Illinois, Indiana, Mississippi, Missouri and Louisiana joined the ranks of states with casinos, Las Vegas and Atlantic City were still the crème of casino crop – the gold … [Read more...]

Over the course of everyone’s career a few people always standout; people who for one reason or another made a big difference.  One of those people for me was Wayne Gilliland.  In the 1980s Wayne was in the midst of a second career as a gaming agent; Wayne had retired from the California Highway Patrol and had come to Reno to work for the Nevada Gaming Control Board.  He stayed with gaming for 15 … [Read more...]

Indian gaming under the regulation of the National Indian Gaming Regulatory Act has been around for 25 years.  Most of the newness and strangeness has worn off, and in most communities with Indian casinos, Indian gaming is pretty well-understood.  However, there are still a couple of myths that persist about Indians, Indian casinos and the law; the most common of which deals with Indian wealth.  … [Read more...]

The lotteries may be able to change the rules, but casinos can’t; when casinos become overwhelmed by the economy, competition and taxes they are left with few options. One of those options is going to the capitol to ask for tax relief, as the casinos in Indiana did recently; the casinos in Indiana, as everyone knows by now, have been serious wounded by the opening of casinos in Ohio. The Indiana … [Read more...]

Massachusetts is in a long, slow and tedious process of introducing casinos.  With the regulations in place, the selection process has begun; at stake are three casino licenses and one license for a slot parlor.  The state has been divided into three zones, each will get a casino.  Before the gaming commission awards the licenses, the prospective casino licensees have to convince the leaders of … [Read more...]

One news phenomenon always confuses me; there is no news on holidays. Why is that?  Of course, there events that are undeniable and unavoidable, such as earthquakes, bombs and deaths of well-known people – those get reported by the media.  But for the most part, especially locally, there is no news at all. The regular reporters must always be off on those days; in their absence, as if by magic … [Read more...]

The second largest lottery jackpot in the history of the world hit on Saturday, May 18, 2013; it was $590.5 million.  The run-up to the record levels of mega jackpots has been much faster since the Powerball officials figured out a way to increase the size of the jackpot by raising the price of the tickets.  Powerball is not alone in the giant jackpot lottery world.  There are two national lottery … [Read more...]

Just why is gaming revenue in Macau growing so fast?  Why has it stagnated in the United States, at least in all existing jurisdictions?  Of course, we all know that Macau has mainland China has its primary market – 1.6 billion people. While each jurisdiction in the United States has a much smaller and more limited regional population base – people living within a hundred miles.  But is that … [Read more...]

The major challenge in being a casino industry observer is making sense of the news.  It is part of the job, as it were, to take the  information available daily, sort out the significant from the routine news and to discover the trends.  It is tricky to pick out the significant events and to find the trends that will impact the industry’s future.  The process is basically the same whether one is … [Read more...]

Just when it seemed that the Atlantic City casino industry was being reengineered from the bottom up Carl Icahn has called a time out.  Buying casinos in Atlantic City at bargain basement prices has been a trend lately; for 20, 30 or 40 million dollars anyone can now own a casino on the Boardwalk.  At those prices, one just might make a profit, or so the buyers appear to have been thinking.  After … [Read more...]

Lately, I have been thinking about some numbers in gaming; and casino gambling is all about numbers, the dollars wagered, won and lost and probability of each expressed numerically.  Every casino game is designed to pay less than true odds.  The difference between what the casino pays on each wager and the true odds creates the house advantage and that results in the truism: the house always … [Read more...]

A while back I wrote a piece about the growth of gaming in the United States, in particular about the growth of other forms of gaming.  I cited Florida and California as examples – California with its 38 million people generates about $10 billion in gaming revenue without the need of a single tourist; the revenue comes from Indian casinos, the state lottery, racing and poker rooms.  In the piece, … [Read more...]

After six years, everyone gets it – Wall Street, investors, state officials, regulators, casino operators, casino employees – everyone considered: Atlantic City is in trouble.  The demise of Atlantic City was a topic of discussion at the eight annual Pennsylvania Gaming Congress in Philadelphia.  And there is no more perfect place to discuss the downfall of Atlantic City than in the epicenter of … [Read more...]

Recently, while the Texas legislature was in a discussion about allowing casinos in Texas,  a bus crashed into the midst of the debate.  The bus did not crash into the legislature itself, but its impact is likely to be felt in the debate.  There is one very common argument for expanding gaming - it is used in nearly every state entering into casino gambling for the first time – “We need casinos to … [Read more...]

Maybe this Time Maybe this time, I’ll be lucky Maybe this time, he’ll stay Maybe this time For the first time Love won’t hurry away It’s got to happen, happen sometime Maybe this time I’ll win Cabaret, John Kander, Fred Ebb 1972 When Liza sings the song in Cabaret, it is very poignant.  Sally Bowles is a young woman who has had many lovers in her life, but never love.  Each time, each new … [Read more...]

What’s in a name? That which we call a rose,By any other name would smell as sweet.” William Shakespeare, Romeo and Juliet, 1597 As Willy so famously said, it is the thing that matters, not what we call it.  But when it comes to thing itself there is often some room for debate, especially when we describe the thing with numbers.  Our world is one bound and valued by economic activity and for … [Read more...]

Sports and gambling go together like bread and butter – or something.  It is hard to imagine any major sporting event without gambling; it is hard to imagine because it does not happen.  The sport leagues in the United States may deny the relationship, but they profit from it.  Gambling fires the enthusiasm that feeds all professional sports in the world.  In Europe rather than deny it, they … [Read more...]