May 22, 2009

Sands Opens New Casino in Bethehem Steel Mill

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Pennsylvania is in for a treat because nearly 14 years after a century of steelmaking ended in south Bethlehem, PA, gambling will step into the void left by the death of Bethlehem Steel. At 9 a.m. today, Bethlehem will become Pennsylvania's eighth casino town.

The $743 million gambling hall in the former Bethlehem Steel ore field at the south end of the Minsi Trail Bridge features four restaurants and two lounges.

At A new era to begin at the old Steel site

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May 15, 2009

New Bill May Make Online Gambling Legal in the US

Let's hope this passes - come on Mr. Frank!

In a move that shows the US Congress aren’t all misguided and shooting in the dark, a new bill that would overturn the 3-yr old ban on Internet gambling was introduced last Wed.

The new bill, titled “Internet Gambling Regulation Consumer Protection & Enforcement Act” would allow the US Treasury to regulate the industry instead of the current practice.

As representative Frank puts it “The government should not interfere with people’s liberties.” Well said.

For those that disagree, consider this - if we’re going to ban online gambling, shouldn’t we ban other forms of gambling as well?

Via Gizmos for Geeks

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May 9, 2009

Nevada Gaming Revenue Slips 11.6% in March

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That's right - the numbers are still slipping, but we predict a Summer and Fall turn around.

Numbers from the Nevada Gaming Control Board released on Thursday show that the recession's hold on Las Vegas could be loosening.

Although gaming win on the Strip fell 12 percent year over year, there was an uptick in revenue when compared to February 2009.

For Las Vegas, March revenue came in at $456.1 million -- up 6.7 percent from $427.4 million in February. In February, year-over-year Las Vegas casino win dipped 23 percent.

At Nevada Gaming Revenue Slips 11.6% in March

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May 1, 2009

MGM Mirage Gets Full Funding for City Center Project

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Looks like it's a go!

Shares of MGM Mirage skyrocketed Thursday, gaining as much as 50% after the company cut a deal with a joint-venture partner -- and its lenders -- that will apparently ensure the completion of its massive CityCenter project.

After the close of trading Wednesday, MGM Mirage (MGM:MGM 7.97, -0.41, -4.9%) and Dubai World, co-owners of CityCenter, ended more than a month of turmoil and infighting with a pact under which they will fund their remaining contributions to CityCenter via letters of credit, while current lenders will fully fund a $1.8 billion senior secured credit facility.

Furthermore, Dubai World said it will dismiss a lawsuit it filed last month against MGM Mirage, which charged that the casino giant was mismanaging the project.

"CityCenter is now fully funded and on track to open in December 2009," the two companies said in a joint statement.

At MGM Mirage shares soar on CityCenter pact - MarketWatch

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April 27, 2009

Sands to sell Macau casino

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Las Vegas Sands plans to put the Sands Macao (left) up for about US$1.3 billion (S$1.95 billion) after failing to sell its luxury shopping centres in the southern Chinese territory. This is more bad news for the already troubled Las Vegas Sands corporation.

At Sands to sell Macau casino

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April 10, 2009

N.J. Casinos Post Biggest Monthly Revenue Drop Ever

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Ouch - blame it the recession? Maybe blame this one on stiff competition from neighboring Pennsylvania slots and other factors.

Atlantic City topped itself for all the wrong reasons yesterday, and posted a monthly revenue decrease that outdid its record 19.2 percent drop in February compared with the same month a year ago.

The seaside resort's 11 casinos reported a 19.4 percent decrease in March, the largest year-over-year decline in Atlantic City gambling's 31-year history, according to the New Jersey Casino Control Commission.

The casinos took in $318.4 million in March, compared with $395 million a year earlier.

At N.J. casinos post biggest monthly revenue drop | Philadelphia Inquirer | 04/10/2009

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April 3, 2009

Carlos Santana Goes to Vegas

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Yep - Carlos Santana is getting his own Vegas show. Finally something a bit less revolting than Celine Dion.

Perpetually mustachioed guitar god Carlos Santana has signed a multi-year deal to launch a Las Vegas residency on May 27 -- and that the show, entitled Supernatural Santana: A Trip Through the Hits, will make him the "first rock and roll resident" to come to the Strip (suck it, Celine Dion!).

At Carlos Santana: Oye Como Vegas!

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March 26, 2009

Slots Seen as Most Addictive form of Gambling

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Given we're headed to Vegas today, we thought we'd remind ourself how addictive those amazing slot machines can be. Video slot machines have come to be known as the "crack cocaine" of the gambling industry, and we agree somewhat. Click on through for the full read, but know your limits and only bring what you're willing to lose.

The mechanical wheels of spinning fruit used in the old one-armed bandits have gone the way of the typewriter. Modern-day slot machines are computerized sound-and-light shows so skillfully designed to keep players glued to their seats that some have been known to wear adult diapers to avoid bathroom breaks.

As state Treasurer Timothy P. Cahill promotes the idea of licensing three slot parlors in Massachusetts, some mental health and gambling specialists warn that the newer machines deliver such potent gambling highs that they can be particularly addictive.

At Critics see video slots as a particularly addictive form of gambling

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March 20, 2009

Pennsylvania's No-frills Casinos Pay big

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A great article that shows with a little dialing down of the amenities, you can still make money from slots and entertain some people. We think Massachusetts should look into something similar.

It's a little past 6 o'clock on a vanilla Monday night in March and Philadelphia Park is slammed. There are men in sweat suits, women with cigarettes dangling from their mouths, senior citizens with canes - all hoping the numbers and symbols on the screens in front of them match up just right.

They haven't come for the $3.50 hot dog at Grab-N-Go. They're not here to shop at the only store on the premises, a gift shop selling candy, cigarettes, and hats.

Read more at The Boston Globe

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March 13, 2009

Woman Wins $5 Million for $4 bet On A Slot Machine

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How about some good news? Wait - how about some great news? A woman playing a slot machine at a casino in Florence, OR won $5 million last Friday night. That's right - pull the lever - $5 million bucks.

The woman, who chose to remain anonymous, had been playing the Penny Wheel of Fortune machine at Three Rivers Casino and Hotel.

According to the casino, the woman initially thought she won $60 or possibly $600 when three Wheel of Fortune symbols lined up. The machine indicated she should call an attendant.

A casino spokesman said the woman had been in the casino for less than an hour and won the $5 million using a $4 bet.

Full Read at Ore. Woman Wins $5 Million On Slot Machine

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