Las Vegas based slot machine manufacturer IGT announced that its 2nd Quarter profits fell by 67%, due to declining sales of its gaming machines. News of the announcement caused shares to fall $1.45, a decline of 10%, down to $12.62. The profit decline forced the company to announce lay-offs, with
According to several news sources, the Seminole Tribe of Florida is nearing a completed deal on a new gaming compact with Florida Governor Rick Scott. A source close to the negotiations says a special session in May might be called for the legislature to consider a new compact with the
Caesars Entertainment submitted an application with the New York State Gaming Commission for one of the four available licenses to operate a land-based casino in the state. If approved, Caesars appears ready to build a casino in Woodbury, Orange County. The development would be under the control of David Flaum.
The World Poker Tour's 2014 Championship Event is taking lace in Atlantic City this year, marking the first time in 12 years it has not taken place at the Bellagio in Las Vegas. The event this year will be held in the Borgata Hotel Casino & Spa in New Jersey.
New Jersey regulators have fined two Atlantic City casinos more than $107,000 for a series of violations. The two casinos being fined are Harrah's Resort Atlantic City and Revel Casino Hotel. The various procedure violations were unrelated from one another, and each involved what appears to be one-time incidents. Harrah's
Fourteen years after the State of Nevada passed a law legalizing medical marijuana, state lawmakers recently passed a bill which would allow up to 66 medical marijuana outlets in the state. Though no one has suggested casinos become one of these outlets, the gaming resorts must now craft policies on
Harrah's Casino in Tunica, Mississippi will be closing on June 2, costing the local economy 1,300 jobs. The casino's fate was used as an example of the overall decline of the American gambling industry in a recent Bloomberg Business article. The Tunica casino complex features everything a resort would want,
An Indiana mayor and his wife have been indicted for allegedly gambling with money earmarked for the needy. Keith Soderquist, the mayor of Lake Station, Indiana, is accused by federal prosecutors of using public funds due to his problem gambling habits. What makes the case more notable is the fact
A man from Naples, Florida has been arrested for running an illegal, nationwide gambling ring which used violent threats to get debtors to pay. Documents collected from the Florida Department of Law Enforcement shows the man is accursed of extortion, racketeering, and money laundering. The man, Thomas Welch, 48, is
Donald Trump announced this week his desire to purchase the Buffalo Bills franchise. The Bills owner for the past 55 years, Ralph C. Wilson Jr., died on March 25, 2014. On April 4, the franchise announced that a process for its sale would be established at an appropriate later time.
An ongoing debate continues about whether land-based Nevada casinos should provide customer details to the U.S. Department of Justice's Financial Crimes Enforcement Network or "FinCEN" division. FinCEN wants the player information in an attempt to eliminate money laundering through gambling activities. Las Vegas casinos say such releases would damage their
The Baltimore Sun reports that Maryland state legislators passed a bill on April 4 which would fine gamblers under 21 caught playing in a land-based casino. For the bill to become official, the bill will have to be signed by Governor Martin O'Malley. The bill is endorsed by Maryland casino
