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SEC Charges DraftKings with Disclosure Violations Over Robins Tweet
The Securities and Exchange (SEC) announced today it charged DraftKings (NASDAQ: DKNG) with divulging nonpublic, material information over CEO Jason Robins’ social media accounts. The gaming company agreed to pay $200,000 civil penalty to settle the charges. DraftKings CEO Jason Robins. The SEC fined the company $200,000 over some social media posts he made in…
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Wind Creek Casino ‘Burial Desecration’ Case Lands in Federal Appeals Court
A federal appeals court in Atlanta heard arguments Wednesday in a long-standing legal fight between two tribes over the land on which the Wind Creek Casino and Hotel in Wetumpka, Ala., now stands. The Muscogee Creek Nation claims the Poarch Creeks desecrated sacred burial ground when they built the Wind Creek Casino and Hotel, above,…
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NY Regulators Rips DraftKings’ Scrapped Surcharge Plan
It took DraftKings less than two weeks to pull the plug on a plan to levy winning sports bets in select high-tax states and it’s a good thing the company did that because had it proceeded, it apparently would have drawn the ire of New York regulators. Inside DraftKings’ Nevada office. A New York regulator…
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New Jersey Bill to Ban College Sportsbook Partnerships Advances in Trenton
Legislation in New Jersey that would prohibit public institutions of higher learning from taking on partnerships and accepting marketing buys from sports betting companies advanced on Monday. Legislation in New Jersey seeks to keep sports betting ads out of public university venues like Rutgers’ SHI Stadium. (Image: Getty) The New Jersey Assembly Higher Education Committee…
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Norfolk Casino Project Secures Critical Approval From City Board
The Norfolk casino project targeting a paved parking lot next to the Harbor Park Minor League Baseball Stadium secured critical approval this week. A rendering of the Norfolk casino from Boyd Gaming and the Pamunkey Indian Tribe. This week, the casino plan received the blessing of the city’s Architectural Review Board. (Image: Boyd Gaming) The…
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Red Rock Could Be Boosted by Lower Interest Rates, Analyst Says
On Wednesday, the Federal Reserve lowered interest rates by half a percent — the central bank’s first rate cut in four years — sparking hope of a prolonged rally for capital-intensive casino operators, including Red Rock Resorts (NASDAQ: RRR). Red Rock Casino Resort. An analyst said the company could benefit from lower interest rates. (Image:…
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Road to Vegas Closed by Second Lithium-Ion Battery Fire in 2 Months
A portion of US 95, northwest of Las Vegas in Nye County, remains shut down Tuesday evening, a full 18 hours after two semi-trucks collided. One carried lumber, the other lithium-ion batteries that exploded into uncontainable flames. This lithium-ion battery fire in the early hours of September 17 closed US 95 entering Las Vegas for…
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New York Gov. Kathy Hochul Remains Uninterested in Expediting Casinos
A powerful Democrat in the New York State Senate said this week that Gov. Kathy Hochul (D) remains evasive to legislation that would expedite issuing the three downstate casino licenses the legislature authorized in 2013. New York Gov. Kathy Hochul remains uncommitted to signing legislation that would speed up the issuing of downstate casino licenses.…
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Alabama Bill Would Elevate Gambling Convictions to Felonies
Alabama is among the most limited states when it comes to gambling. The Cotton State has no commercial casinos or racinos, iGaming, sports betting, or even a state-run lottery. New legislation would implement harsher penalties for those who don’t abide by the restrictive gambling rules. An electronic bingo hall in Alabama’s Jefferson County is pictured.…
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Federal Bill Seeks to Implement Sports Betting Guardrails
On Thursday, U.S. Rep. Paul Tonko (D-New York) formally introduced legislation that seeks to place federal regulations on the rapidly growing sports betting industry that’s today legal and operational in 38 states plus Washington, D.C. U.S. Rep. Paul Tonko discusses his federal sports betting bill outside the Capitol on Thursday, Sept. 12, 2024. Tonko’s SAFE…
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