December 2008

Casino debt hall of fame

A recent case of kickbacks opens up an interesting public policy question that will probably not be answered. From the LV Sun: A vice president of Fry’s Electronics who is accused of swindling the company out of more than $65 million has long been on the radar of Clark County prosecutors. The Internal Revenue Service

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news about gambling

Merry Christmas, start gambling!

If you’re familiar with your gambling history (some of which you can find, in a single volume and at an outrageously affordable price, in Roll the Bones) you already know that, going back to the Romans, gambling was permitted, even encouraged, during the Saturnalia festival at the end of the year. Saturnalia evolved into Christmas,

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gambling & culture

Guess the year

Can you guess the year that an article appeared in Forbes magazine with these quotes? — “Las Vegas is showing signs that it is becoming overbuilt.” –“With traffic growing more slowly than capacity, older casinos have been hurting. Atlantic City casinos fared much worse last year.” — “Steve Wynn put it this way: ‘The old

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news about gambling

Encore echoes

There’s been quite the buzz for Encore over the Internet. This quote from Oskar Garcia’s AP piece explains, I think, why Wynn gets it more than anyone except Jack Binion and a few others: Wynn expected thousands to jam the entrances to the casinos on Monday night, as some of his best customers ceremoniously pull

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news about gambling

I didn’t write this…not exactly

You might have noticed that I do a great deal of writing. Whether it’s the daily blogging, the articles for the Las Vegas Business Press, Casino Connection, and elsewhere, or the books, writing is something that is very important to me, both professionally and because I like to do it. Since it means so much

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atlantic city, writing

More TI thoughts

Reading David McKee’s post on the TI sale to Phil Ruffin, something clicked that made me realize the transaction made perfect sense. For a while now, MGM Mirage has been positioning itself as a casino builder and hospitality brand manager. The international moves are ample evidence of that, as are the City Center partnership with

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atlantic city, news about gambling

Book Review: When March Went Mad

Seth Davis. When March Went Mad: The Game That Transformed Basketball. New York: Times Books, 2009. 307 pages. Today, college basketball is big business, with massive TV contracts and incredible hype. During the annual NCAA tournament, college basketball mania reaches its apex with “March Madness.” Every red-blooded American fills out a bracket or ten and

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book reviews

Delaware to bet on sports?

Thanks to a legislative loophole, Delaware is one of only four states allowed to license legal sports betting. In a few months, you may be able to get action down legally in the Diamond State–with a few caveats. From the Philly Inquirer: Atlantic City’s hopes of a gaming-industry rebound in 2009 might be about to

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atlantic city, news about gambling

October numbers down

This 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

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news about gambling