If you need any evidence of the increasing American acceptance of casino gambling as an everyday activity, just look to Iowa. Two years ago, 69% of Iowans had gambled in the previous year. Now it’s up to 78%. Mind you, it’s not all casino-driven: Casino revenues gained 4% while the lottery leapt 20%. According to the University of Northern Iowa’s Center for Social & Behavioral Research, “factors for the increase in gambling activity could be the improving national economy or an increased public awareness of the types of activities that are considered gambling for the study’s purposes.”
The news wasn’t entirely good: 8,000 Iowans were quantified as problem gamblers, with another Continued >>
Here’s a vivid account of Multimedia Games‘ reversal of fortune, how a company focused on B-level gaming markets established a presence in Nevada, Atlantic City and Pennsylvania, and improved its value sufficiently to make it a takeover target for Global Cash Access. One of the keys to Multimedia’s turnaround is slot platform TournEvent, which allows for multiple tourneys to be run simultaneously. Having gobbled up PokerTek earlier this year, Multimedia finds itself on the verge of being swallowed itself.
Analysts, however, don’t think the $1.2 billion GCA offer — expected to save $30 million in synergies — to be the end of the story. “We would not consider Continued >>
Although the Massachusetts Gaming Commission put Wynn Resorts through the wringer this past week, when the chips were down Wynn emerged the winner by a 3-1 vote. The positive verdict comes with some conditions, so a second vote will be held Wednesday, to ratify yesterday’s verdict. Though the process has been contentious, Steve Wynn was in a conciliatory mood, saying, “We expect that now that a decision has been made, everybody will find it much easier to relate to one another, get on with the job of creating jobs and building a better life for the citizens of Everett and the surrounding communities in the Greater Boston area.”
Or, as Everett Mayor Carlo DeMaria said, “We’ll no longer be the butt-end of Boston.”
“The process however is not over as the vote to repeal gaming remains on the ballot for November,” cautioned Continued >>