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||Report: Phil Ivey Posts $1 Million Bail For Fellow High-Stakes Poker Player Paul Phua, Son Darren Phua|
|2||Dan Bilzerian Talks Nosebleed Poker With Howard Stern|
|3||Aces Crack Aces In $1 Million Buy-In Poker Event|
|4||2014 World Series of Poker ESPN TV Schedule|
|5||Hellmuth Dresses Like Giant Baby For Poker Game|
|6||Atlantic City Struggling To Maintain Status As Top Poker Destination|
|7||During L.A. Traffic Jam, Drivers Get Out Of Their Cars And Play Poker|
|8||Online Poker Player Wins One Billion Play-Money Pot|
|9||Online Poker: Viktor Blom Cuts 2014 Deficit In Half|
|10||Wynn Plans To Use 250K Live Oysters To Help Clean Up Contaminated River Alongside Proposed Casino Site|
|1||One Drop Winner Daniel Colman Didn't Talk To Media Because He Sees Poker 'As A Very Dark Game'|
|2||Pamela Anderson Divorces Rick Salomon Just Days After He Won $2.8 Million In 'Big One For One Drop'|
|3||Daniel Negreanu Had 87 Percent Of Himself In $1 Million One Drop Poker Tournament, Agent Says|
|4||Dozens Gamble On $1,000 Flips For World Series Of Poker Main Event Seat|
|5||Daniel Colman Wins $15.3 Million In 2014 World Series of Poker Big One For One Drop|
|6||It Appears Poker Legend Doyle Brunson Has Played His Last WSOP Main Event|
|7||High-Stakes Poker Player Paul Phua Arrested In Las Vegas For Allegedly Taking Bets On World Cup|
|8||Report: Phil Ivey Posts $1 Million Bail For Fellow High-Stakes Poker Player Paul Phua, Son Darren Phua|
|9||Dan Bilzerian Talks Nosebleed Poker With Howard Stern|
|10||Poker Pro Chad Brown Loses His Battle With Cancer|