Although operators are rushing to get their piece of the sports gaming industry, Colorado Gaming Association President David Farahi warns that "most people don't understand ... that that cookie jar is not filled with giant cookies; it's filled with crumbs." Profit margins for sports betting are less than 5%, he said.
Las Vegas Sands CEO Sheldon Adelson hopes to further expand overseas with a casino in North Korea. His vision comes on the heels of North Korea's leader reportedly suggesting that the US help the country build a casino resort for an upcoming international tourist destination.
The Supreme Court decision in favor of sports betting could have further-reaching consequences than originally thought, possibly allowing states to legalize the activity across state lines. How the Wire Act will be interpreted in the days to come is still uncertain, but it will be a large factor in the future of sports betting, writes Daniel Wallach of commercial law firm Becker & Poliakoff.
The Law Commission of India published a report this month recommending that the country legalize and regulate gaming and sports betting, as citizens are already participating in the activities illegally. "Incapability to enforce a complete ban has resulted in rampant increase in illegal gambling, resulting in a boom in black-money generation and circulation," the report says.
Although it will be up against 17 other online gaming sites, Ocean Resort Casino's soon-to-launch online offering in New Jersey will have the benefit of big-name technology partners like GAN. The partnership will mean access to games from IGT, NetEnt and Scientific Games.
The US House of Representatives is considering a bill that would reinstate federal recognition to Ruffey Rancheria in California. If approved, tribal members could potentially build a casino on 441 acres in Siskiyou County, Calif.
After closing a three-story Smith & Wollensky steakhouse on the Las Vegas Strip last summer, the restaurant will make its return through The Venetian, where a two-story steakhouse will open in the spring. It will draw on diners from The Palazzo, The Venetian and the Sands Expo convention center.
The main event of this year's World Series of Poker is the second-largest in its history, boasting 7,874 participants. Monday heralded the start of the main event at the Rio All-Suites Hotel and Casino in Las Vegas, and the winner will take home $8.8 million.
Sports teams and leagues have lobbied in favor of "integrity fees" for sports betting in several states to guard against corruption that may arise from legalized sports wagers. Although the NCAA is not asking for such a measure, the NBA and MLB have voiced their support for the fees.
Bettors in England are expected to wager about $3.31 billion on the World Cup, representing a 50% jump from the last tournament. Advertising for online betting has spiked across the nation, as have sponsorship deals between betting brands and clubs.