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November 27, 2014

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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 ...

Floyd Mayweather confirms he will fight Marcos Maidana again in September

(via Daily Mail)

Comment Floyd Mayweather Jnr is set to face Marcos Maidana for a second time when he returns to the ring this autumn. The pound-for-pound No 1 was given a tough test when the pair met at the MGM Grand in Las Vegas in May, before winning on points. And Mayweather confirmed they will meet again on September 13. To see the ...

EDM power players: The executives

(via Billboard)

Comment Who are the masters of the $6.2 Billion EDM universe? These tastemakers are dazzling the industry with the intensity of a stunning laser show. To see the full story, click here.

Nanny from hell? Fired caretaker won’t leave California home

(via Reuters)

Comment A California family is exasperated — and fearful — after a 64-year-old woman they hired as a live-in nanny stopped working and has refused to move out of their home after being fired. Marcella Bracamonte says she and her husband, Ralph, hired Diane Stretton in early March to do chores and watch over their children, ages 11, 4 and 1, ...

Hedge funder says massive heist may have been Macau’s ‘Lehman’ moment

(via Business Insider)

Comment In April, Huang Shan, a shareholder in the Kimren Group, one of Macau's top high-roller promoters, took $1.3 billion worth of the company's money and vanished. Now Macau's entire junket funding system is facing a crisis of faith that could change the face of Asia's gambling mecca as we know it. To see the full story, click here.

Atlantic City’s Showboat Casino to announce closing Friday

(via Press of Atlantic City)

Comment The Showboat Atlantic City Hotel and Casino will tell workers Friday that it is closing, says Bob McDevitt, president of Unite HERE Local 54. “I know that the workers are getting issued WARN Act notices tomorrow,” he said. “We were notified by the company today and we began notifying the workers immediately.” The casino had more than 2,100 workers as ...

Redskins sign undrafted UNLV wide receiver Jerry Rice Jr.

(via The Washington Post)

Comment Undrafted free agent wideout Jerry Rice Jr. — yes, the son of the NFL’s all-time leading receiver — announced via Instagram that he has signed a contract with the Redskins. Rice, who finished his college career at UNLV after playing sparingly in four years at UCLA, tried out with the Ravens and 49ers earlier this year. To see the full ...

Caesars ready to invest $5 billion in Japan casino

Gary Loveman, chairman and CEO of Caesars Entertainment, attends the official remaining of PH Live to The Axis at Planet Hollywood on Thursday, Dec. 19, 2013, at Planet Hollywood in Las Vegas.

(via Bloomberg)

Comment Caesars Entertainment Corp., the largest operator of U.S. casinos, said a Japan resort would require at least a $5 billion investment and that it would have no problem financing such a project. “You can typically finance a very substantial portion of that value through the debt market,” said Chief Executive Officer Gary Loveman. Caesars “will have no trouble raising the ...

Columnist: Boston doesn’t need a casino anymore

(via Boston Globe)

Comment Boston doesn't need it anymore. The city’s booming economy is the best argument against building a Boston-area casino — and for repealing the law that allows it. The cranes tell the story. They are everywhere in Boston, tangible evidence of the new urgency to build. Their presence means there’s work for the building trades — diminishing labor’s need to promote ...

Harry Reid on getting lampooned by ‘The Daily Show’: ‘Sometimes you step on your whatever’

Jon Stewart calls out Senate Majority Leader Harry Reid for his attacks on the Koch brothers' spending on political issues while defending Sheldon Adelson's similar spending.

(via Huffington Post)

Comment Senate Majority Leader Harry Reid, D-Nev., conceded that his effort to distinguish between the money spent by Sheldon Adelson in politics and the money thrown around by the Koch brothers may have left a bit to be desired. In an interview with The Huffington Post, Reid was asked about a "Daily Show" segment that lampooned the flimsy distinction. Instead of ...

The new BLM throwdown: Utah county sheriffs cry ‘retribution’

Ryan Bundy, son of Nevada rancher Cliven Bundy, rides an ATV into Recapture Canyon north of Blanding, Utah, on Saturday, May 10, 2014, in a protest against what demonstrators call the federal government's overreaching control of public lands. The area has been closed to motorized use since 2007 when an illegal trail was found that cuts through Ancestral Puebloan ruins. The canyon is open to hikers and horseback riders.

(via Talking Points Memo)

Comment Utah is one of the major hotbeds for disputes between the Bureau of Land Management and those who consider the federal agency in a permanent state of overreach. Now the feud is spreading to another arena: contracts in which the agency pays local sheriffs for law enforcement on federal land. Alongside all the BLM-related controversy in the West, the BLM ...

Woman who threw shoe at Hillary Clinton wanted to get her attention, lawyer says

(via New York Daily News)

Comment The lawyer for Alison Michelle Ernst said his client threw a sneaker at Clinton to draw attention to U.S. troops who suffered heavy metal poisoning while in Afghanistan. Ernst will undergo a mental competency evaluation before federal charges go forward. To see the full story, click here.