All articles tagged with #casinos
New York City has awarded licenses to three Las Vegas-style casinos at sites near Queens, the Bronx, and JFK Airport, promising job creation and revenue, despite opposition over gambling addiction concerns. The projects include plans by Hard Rock, Bally’s, and Resorts World, with estimated combined revenues of $7 billion from 2027 to 2036, and potential financial gains for the Trump Organization.
New York City is close to approving three major casino projects near Citi Field, with the Gaming Facility Location Board recommending licenses for Bally's, Hard Rock, and Resorts World, pending final approval from the Gaming Commission, amid local opposition.
Professional poker player Matt Berkey suspects a new cheating scheme involving hidden cameras and earpieces in high-stakes poker games. Players allegedly use tiny cameras to capture card faces and transmit the information to an accomplice, who relays it back to the player via an earpiece. A recent case in France confirmed the use of such technology, raising concerns about its prevalence in casinos worldwide. The poker community and casinos are now considering measures like retraining dealers and banning devices on tables to combat this sophisticated form of cheating.
CNN's Brianna Keilar draws parallels between former President Donald Trump's financial challenges with his casino empire and his current issues with Truth Social, raising questions about whether the new social media platform will face a similar fate.
U.S. commercial casinos had their best year ever in 2023, winning $66.5 billion from gamblers, a 10% increase from 2022, despite concerns about inflation. Total casino gambling revenue, including tribal-owned casinos, is expected to reach close to $110 billion. Sports betting saw a significant increase, generating $10.92 billion in revenue, with five new markets contributing to the growth. Internet gambling also surged, reaching $6.17 billion in revenue. Despite some declines in a few states, 31 out of 35 states with commercial casinos saw revenue increase.
A Reddit thread asked people to share hidden secrets about casinos, revealing stories such as staff mistaking sleeping patrons for dead bodies, children left alone while their parents gamble, unclaimed millions of dollars, secret basement areas, elderly gamblers refusing to leave their machines, suicides being covered up, private areas for VIPs, superstitious practices, manipulative tactics like scents and temperature control, strict employee regulations, and homeless people living in unused areas of casinos.
Detroit's three casinos, MGM Grand Detroit, MotorCity Casino, and Hollywood Casino at Greektown, are experiencing temporary closures and revenue losses due to a strike by 3,700 members of the Detroit Casino Council. Valet parking services are unavailable, and certain amenities such as high limit table games and spa services are also affected. The casinos have reported revenue losses ranging from $5 million to $7 million for October. The striking workers are demanding better healthcare, wages, job security, and fair workload. Despite the toll of the month-long strike, the workers remain determined to continue until their demands are met.
Donald Trump's foray into the Atlantic City casino industry during the 1980s initially positioned him as a major player, but the landscape shifted with the legalization of gambling in other states, leading to a decline in Atlantic City's monopoly. Trump's casinos faced financial challenges due to their heavy reliance on debt and seasonal fluctuations in tourism. Multiple bankruptcy filings followed, but Trump managed to negotiate deals with creditors to preserve his personal wealth. Despite the failures, Trump has highlighted the personal gains he secured from these ventures, defending his business record. The recent demolition of the Trump Plaza Hotel and Casino symbolizes the end of his tumultuous journey in the casino business. As Trump faces legal challenges, his business legacy is under scrutiny, potentially impacting his broader business empire.
The Seminole Tribe of Florida will introduce in-person sports betting, craps, and roulette at all six of its casinos starting in December, following the lifting of a stay by the U.S. Supreme Court. The launch will be celebrated throughout the month, with South Florida's locations being the first to offer these games. The Seminole Tribe's initiative is expected to create jobs, boost tourism, and generate significant revenue for the state. However, there are ongoing legal challenges against the gaming compact and sports betting, including the issue of online sports betting.
Detroit casino workers, represented by Teamsters Local 1038 and four other unions, have voted overwhelmingly to authorize a strike if fair contracts are not reached by the October 16 deadline. The workers are demanding wage increases, retirement security, and protections against technology implementation. The strike authorization sends a message to the casinos that the workers deserve to share in the industry's profits, which have reached record levels following the pandemic.
Cybercriminals are increasingly targeting casinos through social engineering, exploiting vulnerabilities in their systems by deceiving employees into divulging information or allowing access. The recent cyberattack on MGM Resorts International and the reported ransomware attack on Caesars Entertainment highlight the evolving tactics used by hackers. Experts emphasize the need for companies and government agencies to be vigilant against social engineering and to constantly evolve their security systems to combat cyber threats.
Xaviar Michael Babudar, also known as "ChiefsAholic," has been indicted by a federal grand jury on multiple charges including armed bank robbery, bank theft, money laundering, and transporting stolen property across state lines. Babudar, a Kansas City Chiefs superfan, allegedly committed a string of bank and credit union robberies to fund his attendance at Chiefs games. He laundered the stolen money through area casinos and placed bets on Chiefs games. Babudar was arrested in Sacramento after evading law enforcement and remains in federal custody without bond. Investigators are reviewing bank records and casino transactions to uncover the extent of his criminal activities.
Las Vegas casinos are increasing minimum bets and decreasing payouts for blackjack players, while making roulette bets riskier, in an effort to attract "higher value customers," according to The Wall Street Journal. Losses for blackjack players on the Strip reached nearly $1 billion in 2022, the highest since 2007. Over two-thirds of blackjack tables on the Strip have shifted from 3:2 payouts to 6:5, and a triple-zero iteration of roulette favors the house rather than the gambler.
Gamblers are wagering more than ever in Las Vegas as casinos increase odds and reduce payouts in some of the most popular games. Blackjack losses on the Strip were nearly $1 billion last year, according to official figures. Casinos bosses are trying to lure in higher value players, as changes to odds, payouts and minimum bets price out gamblers with less cash to wager. The changes come as the overall price of a vacation to Las Vegas increases, with costs at hotels and restaurants also on the rise.
Casinos on the Las Vegas Strip are losing more revenue due to increased competition from other forms of entertainment and gambling, such as online gaming and sports betting. This has led to a decline in the number of visitors and a decrease in revenue for the casinos. To combat this, casinos are investing in new attractions and amenities to attract a younger demographic and diversify their offerings.