casino

The Painfully High Price of Gambling Addiction

The severity of America's gambling addiction isn't too far behind the nation's drug problem, and it's growing. In 2007, Americans lost more than $92 billion gambling, almost 10 times more than what U.S. moviegoers spent on tickets -- and about nine times what they lost 15 years earlier.

For Las Vegas Sands, the House Edge Is Global Reach

Las Vegas Sands benefits from being more geographically diversified than its major competitors. With a casino resort presence that spans the U.S., Macau and Singapore, LVS is a strong player that can ride out local downturns, and one stock analysis firm thinks its stock is undervalued by 10% to 15%.

Casino Heists: Criminals Are Flush With Creative Ideas

A robber this week swept $1.5 million worth of gambling chips off a table at the Bellagio in Las Vegas and escaped by motorcycle -- in under three minutes. Such temptations can be overwhelming for those looking for a quick win. Here are some of the biggest jobs of the last few years.

Motorcycle Robber Steals $1.5M in Bellagio Casino Chips

In the 10th Las Vegas casino robbery this year, an armed man stole about $1.5 million in betting chips from the Bellagio hotel early Tuesday morning and escaped on a motorcycle. No shots were fired and no one was injured.

Harry Reid Goes All In for Online Poker

The Nevada Democratic Senator is trying to introduce legislation that would legalize online poker gambling. Advocates say Congress's lame-duck session could provide an opening for the bill, while opponents put its chances at slim to none.

Apollo and TPG Plan an IPO for Harrah's

Private-equity firms Apollo Management and TPG, which took Harrah's Entertainment private in January 2008, are now preparing a $575 million initial public offering. An IPO may be just as bold a move as the buyout, as investors remain wary of IPOs from private-equity firms.

N.J. Governor Gambles on a Gaming Overhaul

New Jersey's Chris Christie is preparing to announce sweeping plans to overhaul Atlantic City's casino district, just one part of a set of proposals that would mark the biggest changes to the state's gaming industry since gambling was legalized.

Did the Atlantic City Hilton Bet Wrong on Bill Clinton?

The struggling Jersey Shore casino has booked the former president on July 23 as part of its speaker series , but plenty of seats are still available. Why would Clinton even want to appear there? And do people think he'll say that he hasn't said already?

Playboy to Cut More Jobs in Bid to Restructure

Playboy Enterprises is downsizing again as it continues its transition from a lifestyle and media business into a brand-management company. The company expects to save more than $3 million annually.

Casino Industry Ends Its Losing Streak

The U.S. casino gaming market is finally improving, according to a recently released report from Moody's Investor Services. After more than two years of negative outlooks, Moody's has changed its view to neutral and recognizes "signs [that the] industry has bottomed out."

Trump's Win in Atlantic City Is Far From a Victory

The battle between Donald Trump and Carl Icahn over control of the addled Trump Entertainment Resorts and its Atlantic City casinos is over, with a bankruptcy court declaring Trump's group the winner. But Trump may have gotten himself into a losing a proposition.

Steve Wynn Abruptly Exits From Philadelphia

Last week, Wynn met with Philly's mayor about the former Foxwoods Casino. By the meeting's end, he said "the deal is done." But within a matter of days, Wynn backed out of the agreement -- and no one knows exactly why.

Las Vegas Strip Has a Winning Streak in February

The Las Vegas gambling industry seems to have some fight left in it. Following a seemingly endless run of negative months, gambling revenues on the Las Vegas Strip jumped 33% in February to $568 million from $427.4 million a year ago, according to WHO TK. Casino operators have their Chinese patrons to thank for the fortunate turn of events.

Casino Mogul Wynn Raises the Stakes in Philly

When Steve Wynn first proposed taking over the stalled Foxwoods casino project in Philadelphia, he said his version would be "cute." Now he is promising a gambling hall that will be "Wynn top to bottom."

Morgan Stanley Walking Away from Revel Casino

Morgan Stanley has decided to cut its losses in Atlantic City. The investment bank is selling its stake in the Revel casino and taking a "substantial loss," one that some analysts estimate could amount to $800 million to $1 billion.

Will Casino Have to Make Good on Slot 'Error'?

While playing the slots at Fortune Valley Casino in Colorado, Louise Chavez thought she had won close to $43 million. But the casino said no, claiming the slot machine she used was broken. Does Chavez have a shot at getting her winnings back? Las Vegas lawyers are doubtful.

Las Vegas Struggles to Save the 'Whales'

Vegas casinos covet the "whale": a lucrative loser, lured by penthouse suites and transport by private jets to blow big money at the tables. But in this economy, deep-pocketed players are getting shrewd about how -- and where -- to lose a fortune.

Angry MGM Tries to Sell Casino in Poor Atlantic City Market

MGM Mirage is trying to sell the Borgata, after state officials deemed its Macau partner Pansy Ho as "unsuitable." The sale would come while Atlantic City is trapped in a downward spiral as neighboring states step up their gambling efforts. But A.C. won't go down without a fight.