The jackpot, more than USD 33 million, hit on Easter Sunday in Sparks at a casino owned by bankrupt Herbst Gaming. It was the second largest Megabucks jackpot ever. Herbst, which has filed a prepackage bankruptcy reorganization plan, isn’t required to pay out the winnings.
Despite a nationwide economic slowdown, Louisiana’s state-licensed casinos won nearly USD 208 million from gamblers in October, an increase over the same period last year, state police reported Tuesday at a Louisiana Gaming Control Board meeting in Baton Rouge. Revenue was up for the year at all New Orleans-area casinos except Harrah’s New Orleans, the state’s only land-based casino.
Louisiana’s state-licensed casinos won nearly USD 218 million from gamblers in August, with USD 54.3 million of that generated in the New Orleans area alone, State Police reported Tuesday at the Louisiana Gaming Control Board meeting in Baton Rouge. The statewide figure represents a roughly 2.3 percent increase over the same month the year before, when revenue was USD 213 million.
A billionaire gambler known as the ‚Fat Man‘ has won a bid to avoid paying a GBP 2 million debt to an exclusive casino. Businessman Fouad al-Zayat totted up the massive loss in just one night’s play at the roulette and blackjack tables at Aspinall’s in London. But the 66-year-old withheld payment after a row over a croupier. Last year the Syrian-born gambler – one of an estimated 180 high-rolling international gamblers known as ‚whales‘ – was told by a judge to pay up.
It was one step forward, one step back for the city this week as it battles with developers for two local casinos about their controversial riverfront locations. The state Supreme Court yesterday ruled that then-Mayor Street’s administration properly issued a license last year for SugarHouse to build its casino on state-owned „riparian lands“ along the Delaware River. Half of SugarHouse’s 22 acres in Fishtown are riparian lands.
Blair Hinkle has made World Series of Poker history by winning a gold bracelet just 11 days after his brother Grant won a bracelet in Event #2 (USD 1,500 No Limit Hold ‚em). Blair and Grant become the first siblings in the 39-year history of the WSOP to win bracelets in the same year. Blair beat a field of 1,344 players in Event #23 (USD 2,000 No Limit Hold ‚em) to claim the gold bracelet and USD 507,563. Hinkle began the final table as one of the chip leaders, ahead of multiple bracelet winner Chris Bjorn…
Nevada casinos posted a 1.8 percent gain in winnings during 2007 despite a soft economy, hanging onto USD 12.85 billion of the nearly USD 170 billion bet by gamblers during the year, according to a state report released last week. While the win was the lowest since 2002 and down from the 8 percent gain in 2006, Gaming Control Board analyst Frank Streshley said an increase during tough economic times shows the gambling industry’s resiliency.
(Bloomberg) – Las Vegas Sands Corp., the world’s largest casino company by market value, posted an unexpected third-quarter net loss after baccarat and blackjack players won more in Las Vegas and Macau. The shares tumbled 15 percent in extended U.S. trading. Las Vegas Sands said today it posted a net loss of USD 48.5 million, or 14 cents a share. Costs to open the Venetian Macao in August contributed to the loss.
London – Annette Obrestad became the youngest bracelet winner in World Series of Poker history early today by conquering the Main Event at the first annual WSOP Europe Presented by Betfair. The 18-year-old Norwegian played masterfully over the course of the five- day 10,000 pounds buy-in No-Limit Texas Hold’Em Championship, outlasting a field that included the strongest showing of professionals in European poker history.
The country stands to double its tax revenues from gaming over the next five years as three more casinos come to the table — new players likely to add, not take from existing operations. „The possibility exists, all things being equal, that the government could double its tax revenue from casinos with the addition of these new operations,“ said gaming board secretary Bernard Bonamy. The government already does quite well with the existing four. In 2006, it raked in BSD 14.1 million, through a dual system of taxation.
Casino Red has been granted a license to open its new casino and entertainment venue on the site of the old Princess Cinema on Northumberland Street in Huddersfield, England. “Everyone associated with Casino Red is delighted to now have the opportunity to develop an entertainment venue that the town can enjoy” commented Nicholas Boyes-Hunter, CEO of Casino Red. Boyes-Hunter continues “The decision means Casino Red will open the doors to its first land based site within six months, creating over 120 jobs and bringing USD 9.9 million investment to the area in the process.