The Gamble for Casinos

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June 2008
- Ventriloquists Speak Up for Themselves
  
  Wall Street Journal | Jun 20, 08 3:03 PM CDT
  
  (Newser) - Ventriloquism has been on the outs since the '70s, but its fortunes are starting to turn, the Wall Street Journal reports. Symbolizing the resurgence of the vaudeville favorite is Terry Fator, a winner of NBC’s America’s Got Talent competition, who recently picked up a yearlong headlining gig at the Las Vegas Hilton. More »
- Harrah's Rolls Dice on Surface
  
  Associated Press | Jun 12, 08 12:27 PM CDT
  
  (Newser) - A Las Vegas casino has become the first to roll the dice with the much-touted Microsoft Surface, a touch-screen table that lets gamblers order drinks, watch YouTube videos, and even flirt. Harrah’s Rio hotel yesterday installed 6 of the tables, which start at $10,000, the AP reports. “Of all the goodies up our sleeves lately, this is one of the most dramatic,” said a Harrah’s spokesman. More »
May 2008
- US Casinos Dotting Macau Can't Cash In
  
  Wall Street Journal | May 22, 08 5:51 PM CDT
  
  (Newser) - Casinos on the Chinese island of Macau create more gambling revenue than the ones in Las Vegas and Atlantic City combined, but US operators—permitted to set up shop there since 2004—are decidedly not rolling in the money. The Wall Street Journal looks at the bumps in the road for MGM Mirage, Wynn and Sands, and finds that local middlemen exert untold control over VIP players—and rake in huge commissions in the process. More »
- Even Vegas Is Down on Its Luck
  
  New York Times | May 6, 08 8:46 AM CDT
  
  (Newser) - Tougher times are starting hit the Sunset Strip, the New York Times reports. Las Vegas has been mostly immune to downturns in decades past, but this time the gambling mecca is feeling the pinch as consumers tighten their belts. Hundreds of casino workers have already been laid off, and a long downturn could mean a glut of hotel rooms as boom-time projects are completed. More »
April 2008
- Macau Casinos Double Vegas' Take
  
  MarketWatch | Apr 21, 08 1:19 PM CDT
  
  (Newser) - If you thought Las Vegas was gambling’s capital city, think again. Casinos in Macau didn’t just beat Nevada’s finest this quarter, they lapped them. Macau’s gambling revenues jumped 62% from a year ago, doubling Vegas’ take over that stretch—though the casinos, which can't lend money directly to gamblers, have to split some of the take with middlemen, MarketWatch reports. More »
- Guggenheim's Vegas Gallery Craps Out
  
  Las Vegas Sun | Apr 11, 08 10:42 AM CDT
  
  (Newser) - The Guggenheim Museum's second venue on the Las Vegas Strip is closing its doors after 7 years. The nonprofit satellite gallery, which presented works from both the New York museum and the Hermitage in St. Petersburg, was housed in the decidedly for-profit Venetian Hotel. A larger space folded only 18 months after opening in 2001 because of lack of funds and poor attendance, the Las Vegas Sun reports More »
March 2008
- Is 21 Bad? Bet the Bank on It
  
  Rotten Tomatoes | Mar 28, 08 9:57 AM CDT
  
  (Newser) - There’s a problem with 21 , a movie based on a true story (and the book it inspired) about some MIT math nerds who set up an elaborate system to beat the house in Las Vegas. “None of the main stars is remotely convincing as a smart person,” writes Josh Bell of Las Vegas Weekly . And the storytelling is far from gangbusters, critics complain. More »
- Spas Get the Vegas Treatment
  
  W | Mar 26, 08 1:50 PM CDT
  
  (Newser) - Las Vegas' go-big-or-go-home attitude runs from its slots to its spas, which now rival the Dead Sea as the world's favored soaking grounds, W reports. But what separates Sin City from Baden-Baden is the de-emphasis on escaping it all: At these luxury bathhouses, seeing and being seen is equally important as the relaxing bit. More »
- Gambler Sues Casinos for $20M
  
  Associated Press | Mar 9, 08 5:30 AM CDT
  
  (Newser) - A former New York attorney is suing seven casinos for $20 million, claiming they helped woo her to the tables, and let her continue to play and lose despite an obvious gambling addiction. Workers at Atlantic City and Las Vegas gambling dens should have stopped her from blowing $1 million and destroying her career, she argues. "They knew I was going for days without eating or sleeping," she told AP. "I would pass out at the tables. They had a duty of care." More »
February 2008
- Airbus Talks Mile-High Casinos
  
  Breitbart | Feb 18, 08 2:55 AM CST
  
  (Newser) - A plane flight could soon be a big gamble. Airbus is considering turning some of its super-jumbo jets into airborne casinos, Breitbart reports. The hulking A380 passenger plane is the world's largest, boasting 50% more floor space than Boeing's 747. That's the kind of space that's needed for a mile-high casino, which Airbus says could premiere as soon as 2012. More »
January 2008
- Fire Closes Las Vegas Casino
  
  Las Vegas Sun | Jan 25, 08 3:16 PM CST
  
  (Newser) - A three-alarm blaze at the Monte Carlo hotel-casino has been contained, the Las Vegas Sun reports, and the 3,200-room property on the Strip has been evacuated. Authorities told the AP no major injuries were reported. Smoke and flame erupted from the casino roof at 11 this morning, with debris raining down on the lower floors. More »
- No Dice for Smoking Gamblers
  
  Chicago Tribune | Jan 1, 08 9:12 AM CST
  
  (Newser) - The brand-new ban on indoor smoking in Illinois is expected to hit the state's nine casinos hard, the Chicago Tribune reports. Plenty of gamblers like a smoke, and along the Mississippi River, all they'll need to do is cross into Missouri or Iowa to enjoy one. "No smoking and I'm gone elsewhere," said one gambler. "Gambling and smoking—they just go together." More »
December 2007
- Vegas to Build Mob Museum
  
  Associated Press | Dec 11, 07 11:03 AM CST
  
  (Newser) - Las Vegas will create a museum showcasing the Mob's role in turning a tiny desert settlement into America's gambling mecca. The $50 million project is slated to be completed in 2010. "Let's be brutally honest, warts and all. This is more than legend. It's fact," said the mayor. "This is something that differentiates us from other cities." More »
- Grannie's Slot Machines Get Hip
  
  New York Times | Dec 10, 07 8:47 PM CST
  
  (Newser) - After years of catering to the little old lady crowd, slot machine manufacturers are reaching out to the video game generation with a line of skill-based games, the New York Times reports. “We need to appeal to new buckets of players, or we’ll die,” said one slot exec. New machines will sport joysticks, multiplayer modes, and advanced graphics. More »
November 2007
- Atlantic City Takes on Las Vegas
  
  Associated Press | Nov 20, 07 4:11 PM CST
  
  (Newser) - Atlantic City is about to get a $9 billion makeover, with four companies slated to build as many new mega-casinos by 2012. The luxury resorts constitute the biggest burst of investment in the city since the start of casino gambling in 1978, the AP reports. As Atlantic City bids to compete with Las Vegas as a luxury travel destination, many older casinos are planning expansions to keep pace. More »
October 2007
- Wynn's Macau Take Disappoints
  
  New York Post | Oct 4, 07 5:48 PM CDT
  
  (Newser) - Casino mogul Steve Wynn latest gamble isn't paying off as handsomely as he predicted, the New York Post reports, with shares in his Wynn Resorts falling 10% after weaker-than-expected revenues at his splashy new gaming palace in Macau. Wynn "wildly overestimated" September revenues at Wynn Macau, analysts said, with gains jumping 55% and not the 75% he forecast. More »
September 2007
- Reno Thrives Although Most Bets Are Off
  
  Economist | Sep 29, 07 3:44 PM CDT
  
  (Newser) - Reno's lost billions to Native American casinos, yet the Nevada town is growing again, even thriving. How did Renoans react when Tribal casinos lured away their business? They put up shop as gambling consultants and sold even more slot machines. Now downtown is growing: Developers are free to build without powerful casinos blocking their path, the Economist reports. More »
August 2007
- New Vegas Takes Root in Macao
  
  New York Times | Aug 28, 07 10:31 AM CDT
  
  (Newser) - Casino developers are sinking staggering amounts of money into making Macao the new Las Vegas. Economic unrest be damned—the immense $2.4 billion Venetian hotel and casino complex that opened today is only the first of dozens to come. But some worry that there aren't enough Chinese high rollers to sustain the boom, the Times reports. More »
June 2007
- Kerkorkian Hedges Bets on MGM
  
  CNN | Jun 20, 07 9:13 AM CDT
  
  (Newser) - Mega-investor Kirk Kerkorian has withdrawn his intended bid for two of MGM Mirage's showcase properties. Kerkorian, who owns a 56% stake in the company, pulled his preannounced offer on news of a multi-billion dollar development deal between MGM and South African casino giant Kerzner International to develop a new property on the Strip. More »
- Gambling Firm Agrees to Buyout
  
  Bloomberg | Jun 15, 07 4:08 PM CDT
  
  (Newser) - The casino-operator buyout spree continued today as Penn National Gaming agreed to be acquired by two private-equity firms for $8.9 billion. The deal, which allows the company to solicit bids for 45 days, includes $2.8 billion in debt. News of the $67-a-share offer, a 31% premium over yesterday's closing price, drove the stock up to $62.12 at close. More »