Interesting summary of the current state of Macau from Fortune, via CNN: Hunter S. Thompson would have found much to fear and loathe in Macau, the former Portuguese colony rebranding itself as a gambling paradise. The good doctor (rest his soul) would have been vexed to discover that Macau, surrounded by water and crowded immigration […]
Channel 8 KLAS-TV has an exclusive look inside slot machines: Las Vegas has more than 207,500 slot machines. Anyone living here or visiting has seen the outside of them, but few people actually see the inside… until now. Reporter Edward Lawrence gives us an exclusive inside look at how slot machines are built and what
Inside slot machines Read More »
news about gamblingAccording to an Australian judge, casinos should be sure where the customers’ money comes from. From NineMSN: Crown Casino should either ensure money from big spenders is legitimate or be forced to compensate victims of crime for ill-gotten gains gambled by criminals, a Victorian judge says. County Court Judge Frank Dyett made the remarks as
Casinos liable for criminal customers? Read More »
news about gamblingBoyd Gaming broke ground on Echelon Place today. Here’s the AP story, but I’ll cut and paste some stuff from two press releases I go this morning. First up: the Delano and Mondrian: Morgans Hotel Group Co. and Boyd Gaming Corporation today announced their development and design plans for the new Mondrian and Delano hotels
Echelon groundbreaking Read More »
news about gamblingBecause I like the finance side so much, here’s a pretty bit story about a major gaming operator going private, from Bloomberg: Penn National Gaming Inc., the owner of 18 casinos and horse-racing tracks, agreed to be taken private by buyout firms Fortress Investment Group LLC and Centerbridge Partners LP for $6.1 billion. Penn National’s
Penn to go private Read More »
news about gamblingWhat’s the Atlantic City of the future going to look like? I think we have an inkling of an answer with this story from the Press: Atlantic City casinos may be opposed to competition at Bader Field, but the director of the Casino Reinvestment Development Authority told a Senate Committee on Thursday that the property
Online gamblers can breathe easy: Congress is now on the case. This Friday, a panel will discuss whether or not it is possible to regulate online gaming. From ABC: A U.S. House of Representatives panel said on Monday it will hold a hearing on Friday to look at Internet gambling, which is effectively banned in
Hearing on net gambling Read More »
news about gamblingIf you’ve got $1400 burning a hole in your pocket, want to know more about casino real estate, and don’t mind hanging out at the Venetian June 28 & 29, check out the Casino Real Estate conference. I’m on a panel at 8:40 in the morning: 8:40 THE CASINO REAL ESTATE MACRO DISCUSSION: IS IT
Real estate and casinos Read More »
life in vegas, news about gamblingThis fall Microsoft is going to apparently release a new device called Surface that will change computing. Interesting, but there’s a casino angle too. From MSNBC: The radical new approach starts with the guts of the device itself. Under the impact-resistant plastic top skin on an otherwise nondescript table hide five infrared scanners, a projector
There’s a nice interview in the LV Sun with Gamal Aziz of MGM Mirage: The latest annual report for MGM Mirage forgoes descriptions of casino floors in favor of haute cuisine, stage performances and museum pieces. And lest there be any remaining doubt about a new direction of the company, “Transformation” is printed boldly on
Non-gaming at MGM Mirage Read More »
news about gamblingThe huge news over the past 24 hours (as of 2 p.m.) is Kirk Kerkorian’s apparent big to buy the Bellagio and CityCenter from MGM Mirage. Here’s a NYT take: What is Kirk Kerkorian up to now? That is what industry observers, analysts and DealBook were left wondering after the 89-year-old billionaire financier said that
Kerkorian & MGM: big questions Read More »
life in vegas, news about gamblingAmong Trump properties, it is–it’s about three times the casino as the Marina and Plaza. From the AC Press: Trump Plaza Hotel and Casino or Trump Marina Hotel Casino, or both, probably would be demolished and redeveloped if the proposed sale of Trump Entertainment Resorts Inc. is completed, they say. “Most comments heard from other
Instant racing’s been around since 2000, but it’s become a hot topic recently. With some states holding the line against slot machines, could these terminals allow tracks to become backdoor racinos? From the
Instant racing or slots in disguise? Read More »
news about gamblingThe long-rumored sale of the New Frontier to the Elad group has apparently gone through. Translation: the Frontier’s days are numbered, so if you want to ride the bull at Gilley’s, start making plans now. From the press release: New York-based Elad Group, owner of the iconic Plaza Hotel, has purchased the last available prime
New Frontier to New Plaza? Read More »
news about gamblingHarrah’s is getting back into the Gulf Coast with a brand new casino: Margaritaville. From the Houston Chronicle: Casino giant Harrah’s Entertainment Inc. said Tuesday it planned to open a Margaritaville Casino & Resort in Biloxi, Miss., with songwriter Jimmy Buffett, which it said would be the largest development in Mississippi since Hurricane Katrina hit
Parrothead Paradise Read More »
news about gamblingPinnacle Entertainment had its first quarter conference call today, and CEO Daniel Lee had some interesting thoughts on Atlantic City. I don’t usually do this, but here are some excerpts from the transcript by Bloomberg: Well, we’ve been consistently saying we expect to build something on the same order of magnitude as the first phase
It seems apropos. From the AC Press: Actually, hundreds of thousands of items will be up for grabs as the old Sands Casino Hotel clears out its vast contents in an “everything must go” sale beginning 10 a.m. Thursday. The public sale will continue for the next 30 to 45 days until the place is
Sands ends with a garage sale Read More »
atlantic city, news about gamblingIn what might be the opening salvo of a campaign to reverse 46 years of federal anti-cross-border gambling action, Barney Frank has introduced a bill to legalize Internet gaming. From Marketwatch: Attempting to roll back a ban on online gambling, House Financial Services Committee Chairman Barney Frank introduced on Thursday a bill that would permit
Frank introduces anti-ban bill Read More »
news about gamblingFor a long time, I’ve been a little surprised that the US/WTO online gaming case hasn’t gotten more mainstream press. Now the tide may be turning. This LA Times editorial is a case in point: ANTIGUA AND BARBUDA, former British colonies on the eastern edge of the Caribbean Sea, are smaller than Los Angeles and
WTO objections go mainstream Read More »
news about gamblingIt earns more in gaming revenue than the Strip, at least. It was either this or a post on Stanley Ho’s medical issues, and I honestly can’t think of anyway to properly blog on that one. From news.com.au: MACAU says it has overtaken the Las Vegas Strip as the world’s biggest casino draw, raking in
Macau confirms: it’s bigger than Vegas Read More »
news about gambling