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January 26, 2015

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Sheldon Adelson, Warren Buffett and Bill Gates call for immigration reform

(via The New York Times)

Comment The three of us vary in our politics and would differ also in our preferences about the details of an immigration reform bill. But we could without doubt come together to draft a bill acceptable to each of us. We hope that fact holds a lesson: You don’t have to agree on everything in order to cooperate on matters about which you are reasonably close to agreement. It’s time that ...

Caesars unit said to tap Kirkland & Ellis to lead restructuring talks

(via Bloomberg)

Comment Caesars Entertainment Corp. (CZR)’s largest unit hired law firm Kirkland & Ellis LLP to advise the casino operator on how to reorganize its $17.4 billion of debt, according to a person with knowledge of the appointment. Caesars Entertainment Operating Co. selected the New York-based company after taking pitches from restructuring firms this week, said the person, who asked not to ...

Macau graft agency probes Wynn land deal

The watery entrance of Wynn Macau.

(via Reuters)

Comment Macau's corruption agency said on Friday it is examining a land deal relating to Las Vegas mogul Steve Wynn's upcoming $4 billion casino in the world's biggest gambling hub. The anti-graft body is investigating after the U.S.-based International Union of Operating Engineers asked the Macau government to provide more details on how a little-known company secured rights to land before ...

Rousey has broken thumb; knee surgery also on tap

(via Yahoo/The Sports Exchange)

Comment Women's bantamweight champion Ronda Rousey announced she has a broken thumb suffered in the 16-second win on Saturday against Alexis Davis at UFC 175 and will have knee surgery next week. Rousey said she will have arthroscopic knee surgery on her knee next Tuesday to clean up some existing issues she has been dealing with for a few fights. To ...

Downtown Las Vegas jumps again

Downtown's Container Park.

(via The New York Times)

Comment From its frontier infancy through the mid-20th century, the only Las Vegas was downtown Las Vegas. But the city center known as Glitter Gulch lost the glamour battle post-1960 with the newer Strip, a stretch of Las Vegas Boulevard South with room for massive resorts featuring Egyptian pyramids and dancing water fountains. From a visitor’s perspective, downtown became the seedy ...

Las Vegas is placing its bets on Hollywood

(via Los Angeles Times)

Comment In the trailer for the current Screen Gems movie "Think Like a Man Too," actor Kevin Hart is shown dancing in his underwear and socks, sliding across the marble floor of the opulent Constantine villa at Caesars Palace. The hotel's facade is prominently displayed, along with scenes at the hotel pool, casino floor and main lobby. In fact, Caesars and ...

Proponents bet on legalization of sports wagering in New Jersey

(via Greater Media Newspapers)

Comment Despite a federal ban on sports betting, stakeholders expect Monmouth Park to host legalized sports betting by the start of the NFL season. Their optimism is due to the progress of a state bill, S2250/A3476, which passed the Senate in a 38-1 vote on June 26 after clearing the Assembly in a 63-2 vote. The legislation would repeal the state ...

With talk of LeBron’s return, Cavaliers appeal to Vegas bettors


Comment More bets have been placed on the Cleveland Cavaliers to win the 2015 NBA title than on any other team at the Las Vegas Superbook. LeBron James hasn't committed to return to the Cavaliers. But some betting money sure has. "They are our biggest liability right now," said MGM VP of Race and Sports Jay Rood. "We took a dime ...

In Las Vegas, defying the odds of reality

(via The New York Times)

Comment My approach to Las Vegas had always been to let everyone else visit it first. To humanity I said, “No, after you.” But there it was on the map, unavoidably lodged smack on the route of a planned road trip across the American West. It would take too much effort to avoid. So my traveling companions and I went for ...

Lottery mystery yields clues to $7.5 million prize


Comment [{"text":"Lottery’s ‘luckiest woman’ bet flabbergasting sums on scratch-offs","url":""},{"text":"How lottery legend from Las Vegas likely used odds, Uncle Sam to win millions","url":""}] Third of three parts. Ever notice that instant lottery tickets are consecutively numbered? Ever wonder if those numbers could help in a hunt for riches? They theoretically can, at least in Texas. They helped us create a list, predicting ...

Cliven Bundy’s war: Inside the rancher’s independent sovereign republic

(via GQ)

Comment It's April in the Nevada desert, not even 11 A.M., and the heat is already physical, like something you could lean on. To those not yet accustomed to the republic, like myself, there's a feeling of unreality to it. Even the view from up here... To see the full story, click here.

Caesars turnaround odds hobbled by default-swap volumes

(via Bloomberg)

Comment Caesars Entertainment Corp. (CZR)’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-default swaps that would be profitable if the casino operator defaults. The net amount of outstanding contracts... To see the full story, click here.

How lottery legend from Las Vegas likely used odds, Uncle Sam to win millions


Comment [{"text":"Lottery’s ‘luckiest woman’ bet flabbergasting sums on scratch-offs","url":""}] Second of three parts. Joan Ginther wasn’t necessarily lottery loco. Maybe it wasn’t a case of dumb luck, but smart luck. She may have purchased at least 80,000 pricey tickets worth $2 million or more, according to expert analysis of 28 instant prizes she won, including three totalling $15 million. To see ...

Worst of Macau’s gambling slowdown is seen as over

(via Investor's Business Daily)

Comment Revenue for Macau casinos fell in June, confirming what analysts have been forecasting for months, but casino stocks jumped on hopes that the worst of the recent slowdown may be over. Macau's Gaming Inspection and Coordination Bureau said Tuesday that gross gaming revenue in June was $3.41 billion, down 3.7% from a year ago. That was the first annual decline ...

Lottery’s ‘luckiest woman’ bet flabbergasting sums on scratch-offs


Comment For years, people who dream of beating the lottery have puzzled over the amazing case of Joan Ginther, who made headlines around the world by scratching off “10MILL” on a $50 instant ticket in June 2010 to win her fourth multimillion-dollar prize. Skeptics wondered if she cheated or had an ingenious system for pinpointing winners. After all, Ginther received a ...