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$5 Billion in Skins Wagered in 2016 Despite Valve Shutdown

$5 Billion Bet on Skin Gambling in 2017

Skins gambling is still alive and well, despite the Valve Corporation clamping down on the third-party websites that allow players to bet with the virtual in-game items. According to new research by Eilers and Krejcik Gaming and Narus Advisors, some $5 billion-worth of skins were gambled throughout 2015, despite Valve’s efforts to dismantle the industry….Read More

Steve Wynn Proves the Rich Get Richer, Gets $12.5M Payday, Thanks to Macau and Vegas Rebounds

Steve Wynn $12.5 million in stock options

Steve Wynn is $12.5 million richer this week, after his Wynn Resorts awarded the founder and CEO a generous stock package distribution. According to Securities and Exchange Commission (SEC) filings, the billionaire received 137,468 shares of the hotel and casino corporation, which is publicly traded on NASDAQ. The transaction occurred on January 19, when shares…Read More

Pennsylvania Casinos Smash Revenue Records in 2016, Driven by Table Games

Pennsylvania Casinos Post Record Revenues

Pennsylvania’s casino sector is booming with overall revenue topping $3.2 billion in 2016, according to new figures, a record for the state. The upward trend has been driven largely by table games, particularly at the Sands Bethlehem. While slot machine revenues remained flat, as they have for the past six-years, table games revenues grew at…Read More

Mafia-Backed Casinos Tried to Kill Me, Claims Edward O Thorp, the Father of Card-counting

Mafia Tried to Kill Card Counter Edward Thorp

Edward O Thorp, the 84-year-old inventor of card-counting, was once the target of a suspected Mob hit. The revelation comes in Thorp’s new autobiography, A Man for All Markets, published this week. In 1964, Thorp believes that Mafia-connected owners of the Dunes were so incensed by his ability to beat them at blackjack, they tried…Read More

Super Bowl Odds: New England Patriots Slight Favorite Over Atlanta Falcons

Super Bowl odds Tom Brady Patriots Falcons

The early Super Bowl odds give the New England Patriots a slight edge over the Atlanta Falcons. Vegas’ prominent sportsbooks have the AFC Champions giving three points to the NFC’s best. Online sportsbook Bovada, as well as land-based books in Nevada including Caesars, Westgate, Wynn, and Mirage, are all in accordance on the field goal…Read More

Casinos Push Towards Millennials by Booking Hipper Concert Acts

casinos millennial concert acts Iggy Azalea

Move over Cher and Celine. Casinos are chasing the millennial, and in order to get them inside their doors, numerous gambling venues are booking concert acts that appeal to the 20 and 30-somethings. From bringing in the Impractical Jokers, stars of the hit TruTV hidden-camera comedy show, to welcoming not only top 40 musical acts…Read More

Atlantic City Reinvestment Authority Focuses on Casinos Over Urban Development

Atlantic City reinvestment CRDA Margaritaville

The Atlantic City reinvestment board responsible for overseeing the city’s revitalization has spent a considerable amount of its budget on funding projects that benefit the resort town’s casinos. The Casino Reinvestment Development Authority (CRDA) is a state-run organization that gained additional power in 2011 when Governor Chris Christie (R) signed a law to create the…Read More

LVS to Pay DOJ $7 Million to End Investigation into Payments in China 

LVS settles with DOJ for $7 million

Sheldon Adelson’s Las Vegas Sands will pay almost $7 million to resolve a Department of Justice investigation into federal anti-bribery law violations in China and Macau. It is illegal, under the US Foreign Corrupt Practices Act, for companies and their executives to attempt to influence foreign government officials with personal payments. The investigation found no…Read More

From AC to DC: Donald Trump Inaugurated 45th US President, Only Former Casino Owner to Hold Office

President Donald Trump inauguration January 20 2017

Donald Trump is officially the 45th president of the United States. The first commander-in-chief to have ever owned a casino took the oath of office at noon EST on Friday to become leader of the free world. His road from Atlantic City gambling mogul to Washington, DC’s top dog has been as unpredictable as any…Read More

Florida Gambling Bill Sponsor, State Senator Bill Galvano, Denies Conflict of Interest

Florida gambling bill sponsor State Senator Bill Galvano

Florida State Senator Bill Galvano (R-Bradenton), sponsor of the state’s new comprehensive gambling expansion bill, is under fire over failing to declare a possible conflict of interest. The Associated Press reported Thursday that Galvano recently worked for luxury real-estate company Turnberry Associates, the company that owns the historic Fontainebleau Hotel in Miami Beach. It’s believed…Read More

As Macau Recovers, Hong Kong’s Casino Investors Pinnacle on Forbes Asia’s “Richest” Rankings

Hong Kong casino Lui Che Woo

Nothing says you’ve made it like hitting any Forbes “Richest” list. And now Hong Kong casino investors and owners are showing up on the Asian edition of that iconic list, thanks to a stabilization of Macau’s gaming outlook and optimism about planned future resorts. Published in the January issue of Forbes Asia, Hong Kong’s 50…Read More

New York Offers Problem Gambling Treatment at State-Run Centers, Addiction Rates Remain Stable

New York problem gambling Andrew Cuomo

New York will soon be home to three new upstate casinos, and to calm fears among opponents to gambling expansion, the state is increasing its addiction therapy services at its six treatment facilities. The Office of Alcoholism and Substance Abuse Services said last week that regiments and treatments are being implemented at the centers which…Read More

MGM Delays Cotai Casino Opening to Second Half of 2017, Macau Considers Tax Change

MGM Cotai casino delayed

The opening of MGM’s Cotai casino is being pushed back for a second time. The $3.1 billion resort in Macau will now open in the second half of 2017, as opposed to the second quarter. MGM China Holdings, the incorporated subsidiary of Las Vegas-headquartered MGM Resorts International, announced the setback as required by rules governing…Read More

Macau VIP Segment Grows 13 Percent as High Rollers Return

High Rollers Return to Macau

Macau’s VIP industry is showing signs of resurgence, as Chinese high rollers return to the high stakes baccarat tables of the world’s gambling capital. VIP gaming rose 13 percent in the final quarter of 2016, according to Macau’s Gaming Inspection and Coordination Bureau (DICJ). Mass market, meanwhile, improved 7.3 percent, the second consecutive quarter of…Read More

MGM Resorts Gets on Power Lobby Bandwagon with New Washington, DC Office

MGM Resorts Washington DC office Harry Reid

MGM Resorts is adding a new presence in Washington, DC to its recently opened, and already very succesful, $1.4 billion National Harbor casino that’s just across the Potomac in Maryland. The gaming and hospitality company is expanding its power in the nation’s capital by opening up a new office for “policymaking,” which you can be…Read More