How lottery legend Joan Ginther likely used odds, Uncle Sam to win millions.
Basic gambling principles go a long way toward explaining why Joan Ginther bet enormous sums on high-priced scratch-off games. Read more at Peter Mucha, Philly.com Joan Ginther wasn’t necessarily lottery loco. Maybe it wasn’t a case of dumb luck, but…
Ivey: Atlantic City Win Was All Skill
By WAYNE PARRY Associated Press World-famous poker player Phil Ivey says his disputed $9.6 million baccarat win at Atlantic City’s Borgata casino was all skill, and he’s seeking the dismissal of a lawsuit in which the casino accuses him of…
Commentary: The Failure of Loss Rebate Programs for High-Rollers
By Eliot Jacobson, Ph.D. Click the link for his Resume http://jacobsongaming.com/Eliot_Jacobson.pdf I recently visited a number of casinos in Asia, where I had the opportunity to learn more about the cash-incentives they give to their baccarat high-rollers. Many casinos use…
Macau gambling revenue suffers first decline in more than four years
REUTERS MACAU — Gambling revenue in Macau fell 3.7 percent in June on an annual basis, the first decline in more than four years, with analysts saying the soccer World Cup had diverted gamblers and their hefty bets away from…
Credit-default swaps buyers hobble Caesars’ turnaround effort
By SRIDHAR NATARAJAN and LAURA J. KELLER BLOOMBERG NEWS NEW YORK — Caesars Entertainment’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-default swaps that would be profitable if…
Study shows visitors have highest gambling budget in five years
While the percentage of travelers to Las Vegas who gamble continues to fall, those who play have the highest average gambling budget in five years. The Las Vegas Convention and Visitors Authority, in a recent Visitor Profile study, said the…
The confession
A guy enters a Roman Catholic Church confessional in Texas. He tells the Priest: "Bless me, Father, for I have sinned. Last night, I beat the hell out of an Obama supporter. The Priest responds: "My son, I’m here to…
Aria agrees to $100,000 fine for preventing viewing of roulette game
CARSON CITY — The Aria on the Las Vegas Strip has agreed to pay a $100,000 fine for preventing a pair of state gaming agents from observing a high-stakes roulette game that, under state law, must remain open to the…
Summer Pool Parties Making Bigger Splashes
By Christopher G. Axelrod The pool season is well underway, and day club pool parties are experiencing record throngs – thongs from younger residents and tourists alike. Pools were always considered a resort amenity but now are viewed as a…
Caesars’ Turnaround Odds Hobbled by Swap Buyers: Distressed Debt
(Bloomberg) — Caesars Entertainment Corp.’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-default swaps that would be profitable if the casino operator defaults. The net amount of outstanding…