There is a reason officials from CG Technology (formerly Cantor Gaming) said they were “glad to have reached a resolution” with Nevada gaming regulators and will pay the largest fine ever leveled against a casino or affiliated company.
Casinos & Gaming
A legislative committee formed to study technology’s effects on gaming will go beyond its stated purpose and explore other issues surrounding Nevada’s largest industry.
Two downtown hotel-casinos will begin accepting the digital currency Bitcoin for various non-gaming transactions.
Saying they have confirmed that one or more people used “a significant number of counterfeit chips” at an Atlantic City poker tournament, state casino regulators on Saturday canceled the tainted match and ordered all prize money frozen until an investigation is complete.
William Hill PLC on Friday said its Las Vegas-based subsidiary had a strong fourth quarter, with amounts wagered up 34 percent and net revenue up more than 150 percent over the fourth quarter of 2012.
With a new year comes new prognostications by Wall Street on which gaming companies will provide investors the best return in 2014.
Sports betting is big business in Nevada with $3.45 billion wagered in the last reporting year. But Las Vegas casinos and sports books are still trying to figure out how to attract fantasy sports players to the Strip.
An anti-online gaming group funded by Las Vegas Sands Corp. Chairman Sheldon Adelson is distributing a letter from the Federal Bureau of Investigation that warns Internet wagering can be used by criminals to conduct money-laundering activities.
Over the last three years, the Cosmopolitan of Las Vegas has emerged as the luxury Strip resort known for its sexy and edgy advertising — a corporate philosophy that has set the property apart in a crowded gaming landscape.
At a minute past midnight, Debra Wagner was suddenly unemployed. A housekeeper for 23 years at the Atlantic Club, she was one of 1,600 workers who lost their jobs early Monday when the struggling casino shut down, the victim of a glut of casinos in the northeastern U.S.
CG Technology, the gambling subsidiary of Wall Street firm Cantor Fitzgerald LP, will pay the largest fine in Nevada history to settle an 18-count complaint that the company or its CEO should have known one of its top executives was accepting illegal bets.
Penn National Gaming has begun construction on a $360 million casino development in partnership with a Southern California Indian tribe, 20 miles east of San Diego.
The collegiality developed within the gaming industry as casino companies weathered the economic downturn has evaporated.
Credit card issuers J.P. Morgan Chase, Wells Fargo and American Express won’t allow gamblers to use their credit or debit cards to deposit money into online gaming accounts. That goes for both online poker and sports betting in Nevada.
Nevada casinos lost nearly $1.35 billion during fiscal 2013, the fifth straight losing year, according to the annual Gaming Abstract Report from the Gaming Control Board.
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