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.
As state budgets strain under huge debt loads, they are counting increasingly on "sin taxes," one of the few reliable sources of revenue in these uncertain economic times.
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%.
Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. But which states give the most back to ticket-holders and through government services?
Singapore is expected to overtake South Korea and Australia this year to become the second-largest Asia-Pacific casino market behind reigning leader Macau. For U.S. investors looking to profit, Las Vegas Sands looks nicely positioned.
IBM's supercomputer Watson racked up $5,000 in winnings on day one of the three-day Jeopardy! challenge Monday, but so did one of its human competitors. The human champs, Brad Rutter and Ken Jennings, face long odds -- at least according those betting their own money on the action.
New Jersey Gov. Chris Christie said Monday night he will sign an Atlantic City rescue package on Tuesday morning to help save the nation's second-largest gambling market from its four-year decline.
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.
Harrah's Entertainment hopes to hit a $531.3 million jackpot when it launches its IPO, and the company is betting heavily on its new name change to Caesars Entertainment.
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.
