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||Phil Ivey Now Down $5.1 Million Under His 'Polarizing' Online Poker Screen Name|
|2||Gambler Finally Hits Vegas Slot Machine That Hadn't Paid Out Jackpot In 15 Years|
|3||Study: You're Like A Pigeon When You Play Poker|
|4||Maryland Casino Says Former Employee Stole 'Highly Confidential' List Of High Rollers|
|5||Allen Kessler Wins 2014 World Series of Poker Circuit Foxwoods Main Event|
|6||Man Carjacks Vehicle From Golden Nugget Atlantic City, Returns Hours Later To Carjack Another And Gets Caught: Police|
|7||Poker Hand of the Week: 8/27/14|
|8||Poker Strategy With Ed Miller: Reverse Bet Sizing Tells|
|9||Texas Station Closes North Las Vegas Poker Room|
|10||2014 CarbonPoker Card Player Player of the Year Update -- Dan Smith and Jason Mercier Join Top 10|
|1||Former Roulette Dealer Faces Criminal Charges For Telling Gambler About 'Lucky Number'|
|2||Phil Ivey's Alleged Accomplice In Borgata 'Cheating' Case Also 'Edge-Sorted' At Foxwoods|
|3||Phil Ivey Now Down $5.1 Million Under His 'Polarizing' Online Poker Screen Name|
|4||Gus Hansen Nears $20 Million In Web Poker Losses|
|5||Atlantic City's Most Expensive Casino Ever Built To Close Next Month After Horrendous Two-Year Failure|
|6||'Invisible Ink' Poker Cheat Banned From Connecticut Casinos|
|7||Real-Money Online Poker Coming To California This Month, Tribal Gaming Regulator Says|
|8||Dan Cates Accidentally Flew To Airport In San Jose, CA Rather Than Airport In San José Del Cabo, Mexico|
|9||Gambler Finally Hits Vegas Slot Machine That Hadn't Paid Out Jackpot In 15 Years|
|10||Steven Seagal Stars In New Poker Movie|