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Penn CEO Quashes Takeover Speculation on Earnings Call
Penn Entertainment (NASDAQ: PENN) delivered second-quarter results earlier Thursday and recent speculation that the regional casino operator is a takeover target was briefly addressed on the company’s conference call with analysts. Penn Entertainment CEO Jay Snowden. He told an analyst “don’t believe everything you read” about takeover rumors. (Image: Bloomberg) Regarding consolidation rumors of which…
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Jake’s 58 Casino Appeals $26K Regulatory Fine Issued By New York Gaming Commission
Jake’s 58 Casino Hotel on New York’s Long Island has appealed a fine levied by the New York State Gaming Commission for not properly procuring necessary gaming licenses for more than two dozen employees. A rendering of the forthcoming Jake’s 58 Casino Hotel on New York’s Long Island. The video lottery casino is facing a…
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Indiana Veterans Groups Urge Legislature to Allow Electronic Charitable Gaming
Veterans groups in Indiana have formed a political action committee (PAC) to encourage state lawmakers in Indianapolis to pass legislation authorizing electronic charitable gaming. Indiana veterans groups are asking state lawmakers to allow electronic pull tabs at their nonprofit facilities. Indiana’s charitable gaming law currently only allows paper games as shown in the photo. (Image:…
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DraftKings Investors Express Dismay About Surcharge Gambit
A significant majority of DraftKings (NASDAQ: DKNG) shareholders aren’t happy about the gaming company’s plan to tax winning sports bets in Illinois, New York, Pennsylvania, and Vermont. Employees at DraftKings headquarters. Some investors aren’t happy about the company’s plan to tax winning sports bets in four states. (Image: CNBC) That’s according to a recent Jefferies…
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Utah Lottery Would be Legal in Certain Counties Under New Proposal
Utah State Rep. Kera Birkeland (R) plans to reintroduce a proposed constitutional amendment that would ask Utahns whether to legalize a state lottery. But following the failure of last year’s effort – the proposal was pretty much dead on arrival – this one comes with a twist. Birkeland is suggesting legalizing a lottery only in…
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Florida Casino Visitor Allegedly Shows Off Genitals in Poker Room, Jailed for Indecent Exposure
A 27-year-old man at a Florida casino last week pulled out his penis and then “waved and shook it at security and passersby,” according to a police report. Seminole Hard Rock Hotel & Casino Hollywood, pictured above. A suspect was charged with indecent exposure after exposing his penis, police said. (Image: Kayak) Abdul Rahman Zaina,…
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Nebraska Online Sports Betting Remains Divisive, Stakeholders Mull Legalization
Nebraska lawmakers and gaming industry stakeholders gathered this week in the Lincoln capital to discuss the pros and cons of expanding sports betting to the internet. It quickly became apparent that the issue remains polarizing. Sports bettors place their bets at WarHorse Lincoln in March 2024. Sports betting in Nebraska remains limited to retail operations,…
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Alaska’s Second Gaming Hall Gets Federal OK After Tribe’s 25-Year Wait
A proposal by the Native Village of Eklutna, an Alaska Native group, to build an electronic bingo hall on its land 20 miles outside of Anchorage has been signed off by the federal government. That’s more than a quarter of a century after it was first envisioned. Traditional Eklutna dancers in the Native village, just…
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Caesars CEO Reeg Says No Involvement with Penn, Eyes Buybacks
Caesars Entertainment (NASDAQ: CZR) CEO Tom Reeg told analysts the company isn’t “even tangentially involved” in the takeover scuttlebutt that’s recently surrounded rival Penn Entertainment (NASDAQ: PENN). Caesars CEO Tom Reeg in a 2021 CNBC interview. He said the company is not interested in Penn Entertainment and doesn’t want to use its currently depressed stock…
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LVS Wants Texas to Allow for Five or More Casinos Statewide, Experts React
Texas should open at least five destination casino resorts, according to a Las Vegas Sands (LVS) executive, whose company is among those eager to capture a license. The Dallas skyline, pictured above. LVS wants to see two casinos in the DFW metroplex. (Image: Visit Dallas) Two of these casinos should be in the Dallas-Fort Worth…
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