I’ve got a new column in the LVBP, about the dubious morality (and even more dubious economics) of many states that legalize gambling: There's a paradox here: Many states legalize gambling only to bring in revenue in lieu of raising taxes. When their citizens can't generate the kind of tax revenues state governments can't do
Morality, economics, and gambling expansion Read More »
news about gamblingI’m full of good cheer over at the Las Vegas Business Press, where I start by looking at where the employment numbers are now and where they seem to be heading: In July 2007, perhaps the high-water mark of the 2004-07 boom, more than 1.2 million Nevadans were working; slightly less than 27 percent of
At the LVBP: The casino cavalry Read More »
news about gamblingThe June numbers are in, and it’s woefully obvious that there’s no recovery in sight for Nevada’s gaming industry. From the LVRJ: Nevadas monthly gaming revenues have sunk to levels not seen since 2004. And analysts said theres no telling how low the bar will fall. “Were still hearing from the casino operators that weekends
The February gaming revenue numbers are in for Nevada, and the news is not good. From the LVRJ: Casino revenue statewide continued a 14-month downward spiral in February. But there was one bright spot in the avalanche of negative numbers — gaming tax collections increased for the first time in seven months. Throughout Nevada, gaming
NV casino revenue down Read More »
news about gamblingHaving picked up this personality study from Marginal Revolution, I followed it through to a handy interactive map that will help me share with you the aggregate personality of Nevadans. The United States of Mind – WSJ.com. Here is where Nevada ranks: Extraversion: 37 Agreeableness: 48 Conscientiousness: 24 Neuroticism:42 Openness:9 So your typical Nevadan is
The personality of Nevada Read More »
life in vegasIn the past year we’ve heard talk of lowering the gambling age to 18 and allowing strip clubs in Strip casinos. Now comes another trial balloon: legal prostitution in Las Vegas. From the LV Sun: In these tough budgetary times, the chairman of a key state Senate committee is willing to consider the world’s oldest
Legalized prostitution in Vegas? Read More »
life in vegas, news about gamblingMore good news for the state budget: fewer people are coming to Las Vegas, and they’re gambling less. From Bloomberg: Las Vegas Strip casino gambling revenue tumbled 16 percent in November, its 11th straight monthly decline, because the global recession and a reduction in the number of flights to the city deterred visits. Gambling proceeds
NV, Strip revenues down Read More »
news about gamblingThis doesn’t look good. From http://www.reuters.com/article/marketsNews/idUSN1032927320081210: Las Vegas Strip casinos won $475 million from gamblers in October, a drop of 26 percent from a year earlier, the state's Gaming Control Board said on Wednesday. Statewide, Nevada casinos' take from gamblers fell 22 percent to $905 million for the month as the U.S. economic recession continued
October numbers down Read More »
news about gamblingLike me, you’ve probably got town hall fatigue from this grueling election season. But here is a town hall-type meeting you might want to attend: A panel discussion on the ins and outs of the gambling industry will be held October 14, from 10 a.m. to noon, at UNLVs Paradise Campus. Admission is free. Mark
State of the state of gambling Read More »
news about gamblingJeff Haney over at the LV Sun’s had a bad run with Vegas sports books recently. In his latest column, he comes just short of calling for an immediate ban on all sports betting. Here’s the apex of the piece: My opinion of elected public officials places them slightly below Saturday morning scamdicapper slime on
Sporrts betting rampage Read More »
news about gambling…but I see a silver lining. In fact, you could argue that things are getting a whole lot better. It’s just a matter of perspective. Specifically, we’re talking about July’s Nevada gaming revenues being down. From the LV Sun: For the seventh straight month, casino winnings on the Strip slumped, falling 14.6 percent in July
Things are getting worse… Read More »
news about gamblingThings are slow in Vegas, maybe, but they’re even slower in Mesquite. From the LVRJ: If you think the slowing economy has hit casino operators in Las Vegas hard, travel 80 miles northeast to Mesquite. Black Gaming, operator of three hotel-casinos in the town, reported an operational loss of $15 million for the quarter ended
Mesquite losing streak Read More »
news about gamblingA few months ago I listed the myriad things that you need to disclose when applying for a non-restricted casino license. Apparently Chet and Karla Cox aren’t regular readers, because they applied for a license without getting an attorney, and hit a few roadblocks. From the LV Sun: Although Silver State would handle the filling,
Unrestricted not so easy Read More »
life in vegas, news about gambling…or the Nevada budget situation is far more dire than we’ve been led to believe. From KLAS: Buckley said one of those areas needs to be prisons. The finance committee went ahead with plans to close the Jean prison, saving the state $11 dollars. It had been closed and reopened twice before. Las Vegas Now
Either that’s a typo… Read More »
haphazard world, life in vegasA friendly reminder from the LV Sun: If $5,000 casino chips could talk, what would this one say? It might explain its recent travels and how it has ended up in the custody of a cashier at the MGM Grand, who questioned whether it really belonged to the gambler who turned it in. The gambler,
Chips aren’t cash! Read More »
news about gamblingI know that the thing that bugs me most about Nevada casino resorts is how hard it is to gamble. You often have to walk several feet to get to a slot machine. Luckily, the Gaming Control Board is on top of the problem and, thanks to Cantor Fitzgerald, a solution is on the horizon:
Handheld relief coming soon to Nevada casinos Read More »
news about gamblingI’ve been having a busy week, mostly because I’ve been getting the UNLV Global Gaming Abstract ready to go online. If you clicked the link and are disappointed, I don’t have it all online yet. This, and the lack of compelling gaming-related news, means that in lieu of a news story and sardonic analysis, I’ll
A few weeks ago, I posted a story about how a Hong Kong election was settled by picking ping-pong balls. Well, the tradition of settling tied elections by lot-casting is alive and well much closer to home, in White Pine County, Nevada. From the LVRJ: Ray Urrizaga turned over the queen of clubs. Bob Swetich
Democracy by lot in Nevada Read More »
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