The Nevada Gaming Commission has recently signed off on South Point Casino's plan to open its own poker Web site. Nevadans can now play poker online but the big money will be when the casinos can take their sites national and international.
The Nevada Gaming Commission fined Caesar's Entertainment Corporation $100,000 for underage gambling. The commission said there was a "pattern" of abuse, and that another incident would mean a seven-figure fine.
Casino gaming wins took a tumble in May, while Las Vegas saw an increase in tourism. Economic analysts say Las Vegas is on pace to eclipse the number of visitors who came to the city in 2007, which was the height of the economic boom and visitation.
Nevada gaming regulators have long been picky about the businesses and individuals they allow licensed casino operators to partner with. The rules were designed to keep out criminals and their enterprises but as casinos have gone abroad and tried to move into the online business, the whole idea of keeping casinos separate from any dubious enterprise has become much trickier.
When the Sahara closed its doors last May after more than 50 years in business, owners promised they would reopen the hotel-casino's doors sometime in the near future. Now, the Review Journal reports SBE Entertainment, the company that owns the shuttered property, has secured $300 million in financing to remodel and reopen the hotel-casino in 2014.
A 2002 study found 2.1 to 6.4 percent of Nevadans are problem gamblers or are at risk of developing an addiction. What will it take to adequately fund problem gambling programs? We talk with a UCLA professor who has been an expert witness in gambling problem trials and a Las Vegas Sun reporter about effective treatment and a lack of funds to help gambling addicts in Nevada.
Visitors to Las Vegas have changed their habits a little bit over the past few years. Tourists are spending less on gambling and more on things like entertainment and restaurants. According to the Las Vegas Convention and Visitors Authority's Visitor Profile Study gamblers budgeted $447.63 for gaming in 2011, down from $466.20 the previous year. Meantime tourists spent $274.69 on restaurants and beverages in 2011 compared to $256.82 in 2010, a seven percent increase. We discuss how the Las Vegas visitor is changing and what casinos are doing to adjust.
At the height of the economic downturn shares in Las Vegas Sands dipped by as much as 80%. Through those tough times however Sands CEO, Sheldon Adelson resisted refinancing the company's debt and insisted Sands shares would rebound eventually.