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||WATCH: Crazy $1M Poker Cash Game Hand|
|2||Report: Roland de Wolfe Accused Of Cheating In High-Stakes Poker Game|
|3||Angry Man Drives Pickup Truck Into Las Vegas Casino|
|4||'Underground Poker' Pilot Airs On Discovery Channel|
|5||Gus Hansen Reaches $20.3M In Web Poker Losses|
|6||A Poker Life: Jared Jaffee|
|7||Singapore Looks To Jail Online Poker Players|
|8||Closed Revel Casino Receives $90 Million Bid|
|9||Poker Strategy With Bernard Lee: Specific Tournament Situations and Tricks|
|10||Poker Hand of the Week: 9/11/14|
|1||Former Roulette Dealer Faces Criminal Charges For Telling Gambler About 'Lucky Number'|
|2||WATCH: Crazy $1M Poker Cash Game Hand|
|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||Dan Colman Wins 2014 Seminole Hard Rock Poker Open $10 Million Guaranteed Main Event|
|6||Homeless Woman Accused Of Killing Popular World Series Of Poker Dealer 'Elvis' Joe|
|7||Seminole Hard Rock Poker Open Stuck With $2.5 Million Overlay|
|8||'Invisible Ink' Poker Cheat Banned From Connecticut Casinos|
|9||Report: Roland de Wolfe Accused Of Cheating In High-Stakes Poker Game|
|10||Gambler Finally Hits Vegas Slot Machine That Hadn't Paid Out Jackpot In 15 Years|