The Weekly Gaming Business Wrap Up
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Here’s a look at the headlines for this week in the gaming business world.
Bill Lerner, an analyst from the Union Gaming Group, says that a proposed tax hike on Nevada’s highest grossing casinos is not economically sustainable, and would result in a job loss of 7,500 or more. Those casinos that make more than $250,000 a month in gambling revenue would see a jump in taxes from 6.75 percent to 9 percent.
The New Jersey Casino Control Commission has approved a permanent license for the Golden Nugget casino, formerly known as the Trump Marina. Landry’s Restaurants bought the casino in May for $38 million, or about 1 tenth of what Trump Entertainment purchased it for two years earlier.
Andrew Wilkie, a 41-year-old headteacher of a primary school in Buckley, admitted to stealing more than £53,000 of school funds after forming an addiction to online poker. Wilkie also re-mortgaged his family home and maxed out his credit cards. He will be sentenced in mid-March.
MGM Resorts International and Ameristar Casinos have agreed to form a marketing alliance in order to draw more visitors to their casinos across the U.S. and Las Vegas. The partnership concerns the use of their rewards and loyalty programs, which allows customers to receive deals and special offers from both companies.
San Francisco-based Zynga (ZNGA) went public in mid-December and stock struggled out of the gate before surging to a record high of $14.55 on Tuesday. On Wednesday, the company revealed a four-quarter loss, despite an increase in revenue of 59 percent, which resulted in a fall of 15.3 percent to $12.16.
Billionaire casino mogul Sheldon Adelson has already given Newt Gingrich and his campaign $11 million, but the Las Vegas Sands CEO has pledged an additional $10 million in an effort to support the super PAC “Winning our Future,” which is largely credited with helping the former house speaker win the South Carolina primary.
|1||Three Years Later, Blair Hinkle Finally Receives His Missing $1 Million In Full Tilt Poker Money|
|2||Man Loses $500K On Super Bowl, Sues Casino|
|3||Poker Strategy With Ed Miller: Three Great Small Stakes Plays That Fail In Tougher Games|
|4||George Lopez Arrested For Drinking Way Too Much And Passing Out On Casino Floor|
|5||Chris Moorman Headlines WPT L.A. Poker Classic Main Event Final Table|
|6||Chris Moorman Wins The 2014 World Poker Tour L.A. Poker Classic|
|7||2014 World Poker Tour L.A. Poker Classic Main Event Builds $5.1 Million Prize Pool|
|8||U.S. Lawmaker Wants To Ban Online Poker|
|9||Poker Hand Of The Week: 3/6/14|
|10||New Jersey Online Poker Event Sees Huge Field|
|1||Chan Pelton Banned From All World Series of Poker Events and Properties After Taking Single Tournament Chip|
|2||Three Years Later, Blair Hinkle Finally Receives His Missing $1 Million In Full Tilt Poker Money|
|3||Man Loses $500K On Super Bowl, Sues Casino|
|4||High-Stakes Online Poker: Poor February Puts Blom Back In The Hole Lifetime On Full Tilt Poker|
|5||Police Arrest Two For Allegedly Using Fake Poker Chips At Maryland Casino|
|6||Crazy Gambling Stories From February|
|7||NBC National Heads-Up Poker Championship Not Running In 2014|
|8||Poker Strategy With Ed Miller: Three Great Small Stakes Plays That Fail In Tougher Games|
|9||George Lopez Arrested For Drinking Way Too Much And Passing Out On Casino Floor|
|10||Q&A With 2013 World Series of Poker Main Event Runner Up Jay Farber|