Gaming

Adelson puts damper on efforts to legalize Internet gambling

Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp., is against online gambling because he doesn't believe young people can be prevented from making wagers, a spokesman said Wednesday. Adelson is shown here at a news conference for the opening of the Venetian Macao Resort Hotel on Aug. 28, 2007.

The revelation last week that one of Nevada’s most prominent casino owners, Las Vegas Sands Corp.’s Sheldon Adelson, is opposed to legalizing online poker sent a cross-country shock wave through the online poker community.

11 December 2011
By Karoun Demirjian

Casino winnings rebound in October

In this 2010 photo, a baccarat game is shown in the high-limit room at Hard Rock Hotel.

Casinos on the Las Vegas Strip rebounded from two off months to post winnings of $560.5 million in October, an increase of 13.2 percent compared to a year ago. The higher winnings on the Strip — computed before taxes and business expenses — were paced by baccarat and slot machine play.

9 December 2011
By Cy Ryan

Casino owners rank high on support for gay, transgender rights

Casino operators Caesars Entertainment Corp., MGM Resorts International and Wynn Resorts Ltd. scored high Thursday in a ranking of companies for their support of lesbian, gay, bisexual and transgender (LGBT) equality.

8 December 2011
By Steve Green

Fontainebleau Las Vegas fraud lawsuit to continue

A view of the Fontainebleau Las Vegas project on the Las Vegas Strip Wednesday, Nov. 3, 2011. In 2009, Fontainebleau Las Vegas filed for bankruptcy after banks halted funding for what had been envisioned as a $2.9 billion, 3,815-room resort.

A state judge refused Wednesday to dismiss much of a lawsuit charging the developer of the stalled Fontainebleau casino resort in Las Vegas hid cost overruns.

7 December 2011
By Steve Green

Kerkorian blames Las Vegas stock promoter for $684 million loss

Kirk Kerkorian’s investment company is suing a former friend of the casino billionaire, charging the Las Vegas man perpetrated a “massive” stock fraud.

7 December 2011
By Steve Green

Adelson against online gambling because risk of underage players

Sheldon Adelson, chairman and CEO of Las Vegas Sands Corp., is against online gambling because he doesn't believe young people can be prevented from making wagers, a spokesman said Wednesday. Adelson is shown here at a news conference for the opening of the Venetian Macao Resort Hotel on Aug. 28, 2007.

Sheldon Adelson, the world's richest casino executive and chief of the industry's largest publicly traded company, says he opposes online gambling because he doesn't believe available technology is good enough to prevent young people from making wagers on the Internet, a spokesman said Wednesday.

7 December 2011
By Oskar Garcia, Associated Press

Revenue, losses down at Las Vegas Hard Rock

A good-news, bad-news scenario is emerging at the Las Vegas Hard Rock hotel-casino under its new ownership. In the 1,500-room property’s financial report for the first nine months of the year, revenue fell from the same period of 2010 — but it’s losing less money than it did during the first nine months of 2010.

6 December 2011
By Steve Green

Analysts project brighter 2012 for casino industry

A view of the Las Vegas Strip from atop the Stratosphere. Analysts at accounting firm PwC have boosted their growth projection for Nevada's casino industry.

Analysts at accounting firm PwC have boosted their growth projection for Nevada’s casino industry. In the PwC (PricewaterhouseCoopers LLP) annual gaming forecast distributed this week, the firm projected Nevada gaming win of $10.4 billion in 2010 to reach $10.7 billion this year and then expand to just shy of $13 billion by 2015. The 2015 projection would about equal the level reached in 2007 — the high-water mark for Nevada casinos before the recession.

6 December 2011
By Steve Green

Former NBA player Antoine Walker ordered to pay $750,000 in gambling debts

Former NBA basketball player Antoine Walker looks over paperwork Tuesday, Dec. 6, 2011 after he was sentenced to five years of probation and ordered to pay more than $750,000 in gambling debts.

Former NBA basketball player Antoine Walker was sentenced Tuesday to five years of probation and ordered to pay more than $750,000 in gambling debts to three Las Vegas casinos. Walker, 35, pleaded guilty in June to felony bad check charges after he failed to pay back gambling debts from 2009 at Caesars Palace, Planet Hollywood and Red Rock Resort.

6 December 2011
By Conor Shine

Sheldon Adelson sanctioned for refusing to answer questions in deposition

Billionaire Las Vegas casino executive Sheldon Adelson and one of his attorneys were hit with sanctions by a judge Monday after Adelson repeatedly refused to answer questions during a lawsuit deposition.

5 December 2011
By Steve Green

22 players commit to play $1 million buy-in poker tourney

World Series of Poker officials said Monday that 22 players have committed to putting up $1 million each to buy into the most expensive card tournament ever — enough to make it an official bracelet tournament that counts toward series earnings and title records.

5 December 2011
Associated Press

Wynn, Kraft discuss Massachusetts casino deal

New England Patriots owner Robert Kraft, right, hosts casino mogul Steve Wynn and his wife, Andrea Hissom, on the field at Gillette Stadium prior to the Patriots' NFL football game against the Indianapolis Colts in Foxborough, Mass., Sunday, Dec. 4, 2011.

Steve Wynn shook the hand of New England Patriots coach Bill Belichick and walked the Gillette Stadium field Sunday afternoon as the Las Vegas casino developer met with Patriots owner Robert Kraft to discuss the potential for developing a hotel-casino-convention project. The Boston Globe reports that the emergence of a likely Wynn-Kraft partnership "has shaken up the competition for a coveted casino license, reshaping expectations of which developers are best positioned to cash in on the state's newest industry."

5 December 2011
By Dave Berns

Gaming industry reporter Jeff Simpson, 51, dies after heart surgery

Jeff Simpson, one of the most respected reporters on the gaming industry, died Saturday of complications from emergency heart surgery. He was 51.

4 December 2011
By Richard N. Velotta

MGM Resorts files suit over poker website names

MGM Resorts International is suing four individuals and two companies it claims have been infringing on its trademarks by registering poker website names that include the names of MGM casinos in Las Vegas.

2 December 2011
By Steve Green

Gambler charged with causing Golden Nugget to file false reports

A North Las Vegas man who was allegedly gambling on behalf of a limited liability company could face a maximum fine of $1 million and 20 years in prison for causing the Golden Nugget Hotel and Casino sports book to incorrectly file a federal currency transaction report.

1 December 2011
By Gregan Wingert
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