The Weekly Gaming Business Wrap
Stay Informed About The Gaming World
Here’s a look at the headlines for this week in the gaming business world.
State-owned casinos in Kansas may soon be dedicating a portion of their revenue to teachers and government worker pensions as part of a long-term project to boost the state’s retirement system. The proposal has bipartisan support.
At least two major casino developers are looking at Exhibition Place in Toronto to see if the potential site has the space to hold a possible casino resort entertainment district. The city estimates that it would collect $50-$75 million in annual lease payments should the project be approved.
Station Casinos in Nevada posted its best operating quarter in three years, reportedly earning $6.8 million in profit on revenues of $318.2 million. Though the profit may be modest, it’s better than the first quarter loss of $11.8 million.
Saratoga Harness Racing Inc. has agreed to buy Fitzgeralds Casino in Black Hawk, Colorado from Majestic Star Casino LLC, for a reported $28 million. The property, which opened in 1995, features 587 slot machines, 11 table games, two restaurants and employs 200 people.
Though it remains the second biggest gambling market in the United States, behind Nevada, Pennsylvania does lead the country in gambling tax revenue, thanks to rates that are as much as seven times higher. In 2011, the state of Pennsylvania earned almost $1.5 billion from their casinos. Nevada only took in $865 million.
|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|