The Weekly Gaming Business Wrap Up
Stay Informed About The Gaming World
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||Poker Hand Of The Week: 12/5/13|
|2||Dan Bilzerian Says He Won $10.8 Million Playing Heads-Up Poker At Stakes $5,000-$10,000|
|3||Google Glass Could Help Poker Cheats|
|4||Hansen In The Abyss $15 Million On Full Tilt Poker|
|5||Poker Pro Fends Off Two Robberies In One Day|
|6||A Poker Life: Steven Silverman|
|7||Crazy Gambling Stories From November|
|8||Poker Hand Of The Week: 11/29/13|
|9||Poker's Thankful: Great Suckouts From 2013|
|10||Bryan Devonshire: It Can Always Get Worse|
|1||Dan Bilzerian Says He Won $10.8 Million Playing Heads-Up Poker At Stakes $5,000-$10,000|
|2||Hansen In The Abyss $15 Million On Full Tilt Poker|
|3||Poker's Thankful: Great Suckouts From 2013|
|4||Bryan Devonshire: It Can Always Get Worse|
|5||New Jersey Sees Full Launch Of Web Poker|
|6||Jay Farber Says He Is Buying A House, Ferrari And Aston Martin With His Poker Winnings|
|7||Borgata Allowing I-Poker Signups Ahead Of Launch|
|8||$14 Million In Full Tilt Poker Losses For Gus Hansen|
|9||Noah Schwartz Thinks Jay Farber Should Get 'AA' Or 'Lucksac.com' Tattoo|
|10||Ryan Riess Wins 2013 World Series of Poker Main Event|