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||Poker Player Gets 2-3 Years In Prison For Fatal Punch|
|2||A Poker Life: Bryan Paris|
|3||Dan Gilbert Now Owns 100 Percent Of Ohio Casinos|
|4||Cancer Surgery Successful, Doyle Brunson Says|
|5||Jason Somerville Snags PokerStars Deal|
|6||Court Rules Against Gambler In Marker Case|
|7||Zinno Going For Back-To-Back WPT Titles At LAPC|
|8||Hooters Las Vegas Closes Its Small Poker Room|
|9||Federal Online Gaming Ban To Have Hearing Thursday|
|10||Don't Bet On CA I-Poker This Year Or Next Year|
|1||Poker Player Arrested At Final Table, Finishes 3rd|
|2||PokerStars Sues Erick Lindgren For $2.5 Million|
|3||High-Stakes Poker Player Strikes Deal In Bomb Case|
|4||Poker Legend Doyle Brunson To Undergo Cancer Surgery|
|5||Horseshoe Cincinnati Cancels WSOP Circuit Stop|
|6||Online Poker: Phil 'Polarizing' Ivey Loses $600,000|
|7||Web Poker: Phil Ivey Loses Another $600K|
|8||Man Turns Himself In Years After Casino Heist|
|9||CEO Wins $1M At Blackjack, Drops $300K On Dinner|
|10||PokerStars And Vanessa Rousso Part Ways|