Archive for May, 2015

Former Nun Loses Lawsuit, Must Pay Nearly $1 Million in Restitution from Failed Casino Project

Former Nun Loses Lawsuit, Must Pay Nearly $1 Million in Restitution from Failed Casino Project

Written by Steve Larson | Friday, May 29th, 2015

A Delaware judge ruled this week that a former nun and current casino developer Sandra Manno has to pay back nearly $1 million. Manno spent $970,123 by “living large” while she was supposed to be building the CanCan Casino in D’lberville, Mississippi. Instead of using the casino money, which had been supplied by investors in […]

Alabama Lottery and Racetrack Gaming Bill Is Defeated in the State Senate

Alabama Lottery and Racetrack Gaming Bill Is Defeated in the State Senate

Written by Steve Larson | Thursday, May 28th, 2015

A gambling bill which would have legalize a state lottery and expanded dog track betting died in the State Senate on Thursday. The bill faced an uphill battle the entire time, because it needed unanimous approval from the Senate to be moved forward. That leaves little time in the regular session for a new initiative […]

Sheldon Adelson Calls For More Casinos in Macau, Despite Declining Revenues

Sheldon Adelson Calls For More Casinos in Macau, Despite Declining Revenues

Written by Steve Larson | Wednesday, May 27th, 2015

At at news conference in New York City on Wednesday, Las Vegas Sands chairman Sheldon Adelson spoke about the collapsing market in China. In the midst of a press conference, he was asked about Macau’s falling revenues. His reply received heavy criticism from financial publications, including Business Insider’s Linette Lopez. Ms. Lopez, who works as […]

FIFA Officials Arrested in a Swiss Hotel, Set To Be Extradited to United States

FIFA Officials Arrested in a Swiss Hotel, Set To Be Extradited to United States

Written by Steve Larson | Tuesday, May 26th, 2015

Six FIFA officials were arrested in Switzerland in the early morning hours of Wednesday morning Swiss-time. According to the New York Times, they have been indicted on charges of  “RICO conspiracy, wire fraud conspiracy, wire fraud, money laundering conspiracy, money laundering and obstruction of justice charges.” If convicted, each faces a maximum of 20 years […]

Nevada Governor Brian Sandoval Signs Skill-Based Slot Machine Bill into Law

Nevada Governor Brian Sandoval Signs Skill-Based Slot Machine Bill into Law

Written by Steve Larson | Monday, May 25th, 2015

Nevada Governor Brian Sandoval signed Senate Bill 9 this past Thursday, giving his approval to skill-based gaming in the state. For the first time in the United States, a jurisdiction is set to allow skill games inside casinos. The bill should change how slot machines are played. Slots are a huge part of the American […]

Ahmed Zayat, Owner of Triple Crown Challenger American Pharoah, Is Sued for Gaming Debts

Ahmed Zayat, Owner of Triple Crown Challenger American Pharoah, Is Sued for Gaming Debts

Written by Steve Larson | Friday, May 22nd, 2015

Ahmed Zayat, the owner of Triple Crown hopeful American Pharaoh, is currently involved in a $1.65 million Florida lawsuit said to stem from gambling debts. A suit filed by Howard Rubinsky, a Florida man, says that Mr. Zayat owes him $1.65 million from debts incurred back in 2005. The lawsuit alleges that Zayat lost at […]

Canadian Researchers Find Link between Problem Gambling and Depression

Canadian Researchers Find Link between Problem Gambling and Depression

Written by Steve Larson | Thursday, May 21st, 2015

Frederic Dussault of the University of Quebec at Montreal published a study recently which suggested that problem gambling and depression have a high correspondence. Previous studies have shown how problem gambling can ruin the health of gamblers, in addition to obvious drawbacks like less money in the bank account and strained relations with family members […]

IGT Intends to Sell Las Vegas Headquarters, Move Manufacturing to Reno

IGT Intends to Sell Las Vegas Headquarters, Move Manufacturing to Reno

Written by Steve Larson | Wednesday, May 20th, 2015

International Game Technology, the number one manufacturer of American slot machines, is planning to sell its Las Vegas corporate headquarters. IGT was bought by Italian gaming company, GTECH Holdings, in 2014 and the two gaming giants are combining operations. The two companies’ merger was completed recently. Marco Sala, the former CEO of GTECH, is now […]

Democrat State Senators Write Letter to US Lawmakers Asking for a “No” Vote on RAWA

Democrat State Senators Write Letter to US Lawmakers Asking for a “No” Vote on RAWA

Written by Steve Larson | Tuesday, May 19th, 2015

The New York Daily News reported last Friday that a group of Democratic New York State Senators penned a letter to their fellow members of Congress, calling for them to vote against Restoration of America’s Wire Act. RAWA, which is labeled HR 707, is a bill to ban online casinos and poker sites throughout the […]

888 Holdings, Amaya Gaming, and Playtech Each Want to Buy Bwin.Party Digital

888 Holdings, Amaya Gaming, and Playtech Each Want to Buy Bwin.Party Digital

Written by Steve Larson | Monday, May 18th, 2015

Bwin.Party Digital Entertainment appears as if it is about to be sold and several of the top companies in the online gambling industry are lining up to become its next owner. 888 Holings, Amaya Gaming, and Playtech are all three rumored to be preparing to purchase Bwin.Party Group, which is one of the largest operators […]