gambling

Bally Acquires Game Maker

Gambling machine maker Bally Technologies Inc. (NYSE: BYI) announced today that it has struck a definitive agreement to acquire SHFL entertainment...

Powerball Jackpot Leaps to $550M

The Powerball jackpot has jumped to $550 million, a major climb less than a day after the latest drawing produced no winning ticket.

Ex-San Diego Mayor's Gambling Wagers Top $1 Billion

Former San Diego Mayor Maureen O'Connor acknowledged Thursday in federal court that she took $2.1 million from her late husband's charitable foundation and gambled it away during a nearly decade-long binge when she wagered more than $1 billion.

Midday Market Minute: A Prelude to Internet Gaming in New Jersey

Guests at one New Jersey casino will be the first in the United States to place bets with the click of their television remote controls, as gambling gets ever closer to going online in the state. Governor Chris Christie narrowly vetoed a bill last week which would have legalized online gaming.

President Romney? Gamblers Say Don't Bet on It

We've heard from poll after poll in recent months predicting who would win the presidential race: Barack Obama or Mitt Romney. But poll respondents don't have anything to lose when they give their opinions. Gamblers betting on the outcome do, and they give overwhelming odds to one candidate.

Japanese Pachinko Mogul Sues Wynn Resorts in Tokyo

In the latest move in a months-long battle between Japanese pachinko tycoon Kazuo Okada and American casino owner Steve Wynn, Okada has filed a $140 million lawsuit against Wynn, claiming that the actions of his former friend and business partner damaged his company, Universal Entertainment.

Place Your Bets: Which Gambling Hot Spot Now Dwarfs Las Vegas?

If you thought Vegas was where the big gamblers went to play, you're behind the times. Sin City has been blown past by another exotic destination once infamous for corruption and mob activity. But you probably won't be heading there to play baccarat any time soon.

Leveraged Buyout Trailblazer Ted Forstmann Dead at 71

Theodore J. "Ted" Forstmann died on Sunday from complications related to brain cancer. The private equity pioneer's firm, Forstmann Little & Co., was one of the first to engage in leveraged buyouts -- using borrowed money to buy companies.

Poker Champ Pays No Taxes on $8.7 Million

There's Herman Cain's 9-9-9 Plan. There's the Buffett Rule. But Pius Heinz's All for Me deal is our favorite. Heinz recently won the World Series of Poker in Las Vegas, earning $8,715,636 -- tax-free.

How to Bet the Horses and Win on a Budget

if(typeof AOLVP_cfg==='undefined')AOLVP_cfg=[];AOLVP_cfg.push({id:'AOLVP_us_1080534630001','codever':0.1,'autoload':false,'autoplay':false,'playerid':'61371447001','videoid':'1080534630001','stillurl':'http://www.blogcdn.com/www.dailyfinance.com/media/2011/07/belmont.jpg','publisherid':1612833736,'width':284,'height':160,'playbutton':false,'bgcolor':''});You don't need to pony up a lot of cash for a victorious day at the track. Just ride these tips from Dave Litfin of the Daily Racing Form and Andy Serling of the New York Racing Association.

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.

The Ten States that Profit Most from Sin

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.

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 Trefis thinks its stock is undervalued by 10% to 15%.

Jackpot! States With Biggest Lottery Payouts

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?

Cash In on Asian Gambling With Shares of Las Vegas Sands

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.

Jeopardy! Challenge: Bettors Are Gambling on the Machine

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.

Trump Entertainment Resorts to Sell Atlantic City Casino

Trump Entertainment Resorts agreed to sell the Trump Marina Hotel Casino in Atlantic City for $38 million. The casino will be sold to Landry%u2019s Inc., which operates the Golden Nugget casinos in Las Vegas and Laughlin, Nevada, Trump Entertainment Resorts said in a statement.

Motorcycle Robber Steals $1.5M in Bellagio Casino Chips

An armed man stole as much as $2 million in casino chips from Las Vegas' Bellagio hotel-casino early Tuesday morning, then escaped, the Associated Press reported, citing Las Vegas police officials. No shots were fired and no one was injured.

Harrah's 'Not Pursuing' IPO Due to Market Conditions

Harrah's Entertainment, the world's largest casino operator, said it is "not pursuing its initial public offering of common stock at this time due to market conditions." The company had been planning a $532 million IPO, The Wall Street Journal reported. The company had been planning a $532 million IPO, The Wall Street Journal reported.