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||Cates Talks About State of High Stakes Poker Games|
|2||Dan Bilzerian Finds Another High-Stakes Prop Bet|
|3||Poker Pro Brian Rast Wins $600K In Biking Prop Bet|
|4||Clinton Renting Plane Belonging To Dan Bilzerian|
|5||Terrence Chan Reflects On Latest MMA Win|
|6||Hawkins Wins 2016 WSOPC Harrah's Cherokee Main Event|
|7||Schemion Wins EPT Grand Final €100k High Roller|
|8||Poker Strategy: Playing With Ducks, Profitably|
|9||Kornuth Wins EPT Grand Final €10k High Roller|
|10||Poker Pro David Williams To Compete On 'MasterChef'|
|1||Poker Legend Gus Hansen In Denmark 'For Good'|
|2||Bilzerian, Perkins Eyeing A Double-Or-Nothing Bet|
|3||Cates Talks About State of High Stakes Poker Games|
|4||Watch: JC Alvarado, Olivier Busquet Fight In MMA|
|5||Busquet Defeats Alvarado In High Stakes MMA Fight|
|6||Dan Bilzerian Finds Another High-Stakes Prop Bet|
|7||Poker Pro Gets 8 Years For Theft, Money Laundering|
|8||Ivey's 'Cheating' Could Be Resolved By September|
|9||NFL Star Skips Team Workouts For All-Night Poker Session|
|10||Chino Rheem Wins 2016 WPT SHR Poker Finale|