Three Way Deal Links Penn, Pinnacle and Boyd
Penn National Gaming will purchase Pinnacle Entertainment for $2.8 billion in a transaction expected to close in the second half of 2018. As part of the deal, Boyd Gaming will purchase four Pinnacle casinos, including the Ameristar St. Charles (l.) in Missouri, for $575 million. Pinnacle shareholders will receive $32.47 per share. Boyd added another casino a day later when it bought the Valley Forge casino in Pennsylvania.
New York Will Take Raffle Sales Online
A new state law, signed by New York Governor Andrew Cuomo, will allow New Yorkers to purchase raffle tickets online. Many of the raffles are held by charities, where half of the prize pool goes to the charity and the other half goes to the raffle winner.
New North Jersey Casino Referendum Not Likely in 2018
New Jersey’s Senate president, Steve Sweeney (l.), says he doesn’t expect a second effort to put a referendum before state voters to expand casino gaming beyond Atlantic City will happen “anytime soon, if ever.” State voters overwhelmingly defeated such a referendum in 2016, but under state law a new referendum could be put before voters as early as 2018. Supporters of the plan, however, said they don’t want to try again until they’re certain the referendum could pass, which could take up to five years.
Tax Exemption Saved for Vegas Stadium Bonds
Congress has struck a provision from its massive tax overhaul that would have eliminated the tax-exempt status of bonds used to fund pro sports stadiums. Las Vegas is breathing a sigh of relief over the use of those bonds in the construction of the Raiders stadium (l.).
Catskills Opening Pushed Up to February
Asian play is the big prize in the marketing strategy being crafted at Resorts World Catskills (l.). Accordingly, New York’s newest gaming resort is speeding up its debut to cash in on the Chinese New Year.
Pennsylvania Fines Mohegan $1 Million
Regulators in Pennsylvania have fined Mohegan Sun Pocono (l.) a record total of $1 million, in connection with an inside casino scam and doing business with unlicensed firms.
Skins Betting At McDonald’s?
A lawyer for two YouTube stars accused of running a skins betting site for the game Counter Strike Global Offensive has told a gaming website that the contest was no different than those run by fast food restaurant McDonald’s. News of the site leaked in 2016 and helped set off the controversy about skins betting in video games. The site drew a number of civil suits, but no criminal charges were filed.
Big Fish Games Offers a Vast Lineup of Game Titles and Categories
Big Fish Games is one of the largest online gaming worlds out there, with an entire universe of social and video games, as well as a vast lineup of casino-style games. Players can sign up for a paid subscription or play for free and add chips as you go.
New Jersey Assembly Passes Bill for Online Gambling Cafes at State Racetracks
The New Jersey Assembly has passed a bill that would allow the state’s racetracks (Monmouth Park at left) to partner with licensed online gambling sites for online gambling facilities. The bill allows the online betting cafes only if they partner with online sites. Though online gamblers can place bets anywhere in the state, lawmakers hope online gambling sites will see the partnerships as a way to create new business.
New Tax Rules on Racing Wagers Are a Win-Win
As the 2017 season was winding down, horse racing finally entered the modern age regarding tax implications for winnings. Dave Bontempo explains. Plus, what does week 16 of the NFL hold?
3 Ways to Protect Yourself from Problem Gambling
While there are no definitive statistics on problem gambling for legal online play in the U.S., many of the behaviors are the same for online and land-based gambling. Here’s a look at signs of gambling disorders and how you can avoid falling into the trap.
Michigan Reviewing Online Gambling, Sports Betting
A revised version of a measure legalizing online gambling, sponsored by state Rep. Brent Iden (l.), passed a Michigan House committee. It requires online servers to be located on casino property and lowers the online gambling tax rate from 15 percent to 10 percent. Also, a bill regulating sports betting awaits a U.S. Supreme Court ruling.
