July 3, 2008 080703
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Compiled by Al
Frank's HR 5767 Defeated in House Financial Services Committee ...
While some of the largest poker tournaments and prize pools ever are
taking place at the 2008 World Series of Poker, the situation was not
as rosy at a House Financial Services Committee hearing on Wednesday in
Washington, D.C. The Payment Systems Protection Act (HR 5767) proposed
by Barney Frank and Ron Paul would have forbid the U.S. Treasury and
Federal Reserve from implementing the regulations of the Unlawful
Internet Gambling Enforcement Act.
... Rep. Barney Frank: Social Conservatives Still In Charge of
Two wings of the Republican Party engaged in political combat on
Wednesday, June 25th over an important question of regulation of the
financial sector of our economy.
online poker proposal is closely monitored by gaming tribes
A seemingly innocuous bill that would implore the Department of Justice
to begin investigating the future of online poker has quietly been one
of the most closely watched bills among tribal gaming interests this
Casinos Squeezed by Slowdown
"This is the toughest environment we've faced," says Gary Loveman,
chief executive of global gambling giant Harrah's Entertainment Inc.,
referring to the economic challenges roiling the entire industry.
Thanks to Green Chip member nycpro
for posting this link.
tumble on economic woes -- Sands posts 19 percent decline with MGM,
Boyd, Wynn not far behind
If the stock market were a casino, investors in Las Vegas gambling
stocks would be the bleary-eyed guy in the wrinkled suit watching
helplessly as the dealer plucks chips from the felt. Nine of 10 stocks
on an index of publicly traded gambling companies lost value in June,
including a 19 percent decline for shares in Las Vegas Sands Corp., the
company that owns two of the swankiest resorts in Las Vegas.
suspect pleads guilty in extensive card cheat scheme
Another member of what federal prosecutors have dubbed the "Tran
Organization" pleaded guilty Tuesday to a conspiracy charge related to
a long-running gambling scam.
threatens gaming, dies quickly
CARSON CITY — A couple of gaming industry lobbyists were milling about
the legislative building during the early hours of Friday’s special
session when news filtered out that a particular bill had passed the
Court denies former Tropicana owner new license
A New Jersey appeals court slammed the former owner of Atlantic City's
Tropicana casino today for lacking "business ability" and flatly
rejected its plea for a new operating license.
out of casinos
Tropicana Entertainment LLC owner Bill Yung III has agreed to resign
from the board as part of a settlement with creditors who blamed him
for the casino operator’s bankruptcy.
Tropicana tower to
reopen after E. coli discovery -- Traces of bacteria found in well
LAS VEGAS - The Tropicana's Island Tower, which the company
voluntarily closed Monday after traces of a potentially dangerous
bacteria were found in well water used by hotel customers, should
reopen later today, the Strip hotel-casino said Wednesday.
May Get Las Vegas-Style Sports Betting
CANADA - In an effort to boost sagging profits at Ontario's casinos the
provincial and federal governments are reportedly working on changing
the rules to allow gamblers to take part in Las Vegas-style sports
Rock abandons porn gaming pit
Early last month, I broke the news on the Buffet that the Hard Rock and
adult star Tera Patrick had cut an unprecedented deal to transform part
of the gaming floor of the casino to have tables branded under
Patrick's name. The Hard Rock and Patrick's camp each confirmed for me
plans to open "Tera Patrick's Gaming Pit" on the main floor of the
casino. The dealers were to be called Hell's Belles.
Gaming regulators' blessing a mixed bag for strip club-casino joint
LAS VEGAS - When word began to circulate recently that the Rio had
hooked up with Sapphire Gentlemen's Club for a risqué poolside
promotion featuring the appearance of plenty of ladies from the
enormous topless cabaret, it set control board officials in motion to
get to the bikini-bottom of the matter.
another unpaid bill for charity event -- MGM Grand owed for space,
services used for gala during NBA All-Star Weekend
A second Strip resort has still not been paid for a charity event held
during NBA's All-Star Weekend.
Video maker sued
by LV hotel -- Wynn Las Vegas says 'Girls Gone Wild' boss owes $2
The Strip resort sued Francis, saying the 35-year-old owner of the
video franchise featuring college students in sexually provocative
situations, owes the company $2 million in unpaid gambling debts dating
back to February 2007.
expected for jobs at new Station casino
Station Casinos will begin taking applications Sunday for more than
1,000 jobs at Aliante Station, the company’s 10th major property in
town, which is scheduled to open in North Las Vegas Nov. 11.
arrested for casino card cons
MACAU - Two dealers from a Cotai casino were arrested by the Judiciary
Police (PJ) on Monday for allegedly being trained to remember cards
sequences and then telling their accomplices before they were to place
operation betting it can thrive -- Brandywine Bookmaking to start
managing wagers for three casinos in Northern Nevada
Brandywine takes over the race and sports books of two casinos in Elko
and the Grand Sierra in Reno. The company hopes to win regulatory
approval in the next few months to run the books inside the downtown
Plaza and Casino Fandango in Carson City.
signs bill to make casinos shutdown-proof
ATLANTIC CITY - Saying the state is in no threat of a shutdown this
year, Gov. Jon S. Corzine signed a bill into law Friday to keep
Atlantic City casinos open in the event of future budget impasses like
the one that occurred in 2006, halting gambling operations for three
days and costing the state more than $1 million a day in lost revenue.
court: Crist overstepped on casino deal
The Florida Supreme Court ruled Thursday that Gov. Charlie Crist
overstepped his authority when he unilaterally allowed the Seminole
Tribe to exclusively offer baccarat and blackjack at their casinos.
may lift Lady Luck -- Unrestricted gambling seen as potential use for
LAS VEGAS - City-owned land that developers want to buy in conjunction
with a revival of the downtown Lady Luck casino could fetch twice as
much money as originally thought -- although critics of the plan say
the city could get even more.
Penn National Deal Falls Apart
Penn National Gaming said Thursday that it has terminated its $6.1
billion sale to two private equity firms, after agreeing that
completing the deal would not be possible without a lengthy litigation
The Bear Growls
Long-time Las Vegas-based advantage player, casino critic, and frequent
contributor LVBear offers his opinions on things that sometimes go
wrong in the world of casinos.
Current and past growls can be read and comments posted at LVBear's
Blackjack, Poker, Craps, other casino-related free
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Beat the Players - Casinos, Cops and the
Game Inside the Game, by Bob Nersesian
book should be read by everyone who sets foot in a casino: average
casino patrons, skilled players, casino employees, and anyone else. It
should be required reading for police officers, regulators, other
public officials, and attorneys who may represent any of the
Nersesian is an attorney who represents victims of casino wrongdoing
against patrons. In an enjoyable writing style, he takes a look at the
often too-cozy relationship between casinos, police, and regulators. He
discusses specific cases and dispenses sound, practical advice that
patrons, casinos and public officials would be wise to heed. Cases
discussed are from Nevada and other jurisdictions.
include: Your Money or Your Liberty; Scary Cop Statements; They'll Take
Your Liberty Anyway; Gaming Agents Speak; The Take of the State; Rules
for Casino Patrons; Gambling at the Legal Limits; Cops Hate Card
Counters; Griffin Investigations; Casinos Cheat With Impunity; A
Judicial and Government Overlay; Finding a Nickel Brings Trouble; Names
and Aliases; The Security Office and Surveillance Functions, and
Casinos and Cops.
include Nevada Cheating and Detention Laws with Commentary; Other
Nevada Gaming Laws of Interest; Gaming Cases of Interest, and Nevada
Gaming Regulations with Commentary.
320-page book includes a bibliography and an index.
price is $19.95 plus shipping (plus sales tax if sent to a Nevada
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