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||Chino Rheem and Erick Lindgren Lead World Poker Tour $25,000 Championship Main Event Final Table|
|2||Live Cash Game Stream Kicks Off Card Player Poker Tour Bike Stop|
|3||Online Poker Scandal: Annie Duke Responds To Leaked Russ Hamilton Audio Recording|
|4||Dan Shak Finishes Second In Tiger Woods' Charity Poker Tournament In Las Vegas|
|5||Family Facing Eviction Discovers They Had $4.85 Million Lotto Ticket Sitting In A Cookie Jar|
|6||A Poker Life -- Brian Hastings|
|7||Carnivale Of Poker Returns To 2013 World Series of Poker|
|8||Jamie Gold's World Series of Poker Main Event Bracelet Up For Auction|
|9||High-Stakes Online Poker: Gus Hansen Wins $1.7 Million This Week|
|10||Doyle Brunson Bows Out Of World Series Of Poker|
|1||Online Poker Scandal: Annie Duke Responds To Leaked Russ Hamilton Audio Recording|
|2||Jamie Gold's World Series of Poker Main Event Bracelet Up For Auction|
|3||Doyle Brunson Bows Out Of World Series Of Poker|
|4||Gambling Lawsuit: Did Ivey Notice Defective Cards At London Casino En Route To Winning $12 Million?|
|5||Ultimate Bet Cheating: Russ Hamilton Admits In Audio Recording, 'I Did Take This Money'|
|6||High-Stakes Online Poker: Gus Hansen Approaching $10 Million Lifetime Losses On Full Tilt|
|7||Nevada To Add Gambler To 'Black Book' For First Time In Nearly Four Years|
|8||Phil Ivey Sues London Casino For Allegedly Stiffing Him On $12.1 Million|
|9||A Look At The Ultimate Poker Software: Nevada's First Real Money Online Poker Room|
|10||High-Stakes Online Poker: Gus Hansen Now Down $6 Million Since The Fall|