Drama for Wynn Casinos

Wynn Casino wikimedia public domain

Steve Wynn has an incredible knack for creating the ultimate high roller experience. Sure, some also blame him for the corporate culture that invaded Las Vegas with the introduction of the Mirage. I guess those people liked it better when the mob ran Vegas. Regardless of that, Wynn was the main guy that brought Vegas out of the tacky 1970s into the ultra luxury era. After the Mirage can Bellagio, which elevated the standard even further. After cashing out, then he decided to put his name on the building. The Wynn casino wasn’t that much of a leap beyond Bellagio, but it did plant itself as one of the premiere luxury spots on the Strip. If you’re a group of guys or high rollers ready to have a great time in Vegas, then you can’t go wrong at the Wynn.

But now Steve Wynn the person is back in the news, as his ex-wife is threatening his casino empire. BusinessWeek explains that “Elaine Wynn has asked a federal court for permission to sell the Wynn Resorts (WYNN) shares she was awarded in the couple’s 2009 divorce.” This is a problem as she’s a swing shareholder of the company. Even if she just sells half of her 9.6 percent stake, such a transaction could possibly trigger a series of events that would threaten Steve’s sway over his company according to the article.

It’s funny how little things like a divorce, even a $750 million divorce, can have such a potential impact on a place like Las Vegas. Not that any of us really care. There are so many places in Vegas to gamble, and of course there are now casinos all over the country, and anyone can find awesome places to play online as well like Betfair Casino.

Frankly, I wouldn’t be surprised if Wynn decided to start all over again. Now with Aria and Cosmopolitan, his Wynn casino is now longer the newest luxury hot spot on the Strip. The guy seems obsessed with setting new standards, so maybe all of this drama will lead him to create something new again. That said, the odds may be against that course of action. Vegas is so saturated right now with high end hotels, and the days of the whale from Asia seem to be gone with overseas competition. Still, we love new hotels, so who cares if it’s a financial success for Wynn. He can afford it, even after his $750 million divorce!

  

Court rules that poker is a game of skill

We all know that poker is a game of skill. Now others are starting to take note, as a federal judge ruled in a recent decision.

Poker is a game of skill that is not covered under the federal Illegal Gambling Business Act, Eastern District Judge Jack Weinstein ruled yesterday.

Weinstein (See Profile) reversed the jury conviction of Lawrence Dicristina and found that, as a matter of law, Congress did not clearly intend to criminalize poker when it passed the act. Part of the judge’s reasoning was that poker games, in this case Texas Hold’em, are not purely games of chance.

“Bluffing, raising and folding require honed skills to maximize the value of the cards dealt by Lady Luck,” Weinstein said in United States v. Dicristina, 11-CR-414.

In a 120-page decision, Weinstein noted that New York courts have long considered that poker contains a sufficient element of chance to constitute gambling under state laws, N.Y. Penal Law §225.00(2). But the federal law is ambiguous as to whether it federalizes state gambling offenses, he said.

Even the attractive lady above can use her “assets” to help distract players. There are so many factors that go into winning money at poker. It’s nice to see some feds finally agree.

  

Beginners guide to playing online casino – roulette

Roulette is a popular game that you can find at most online and land based casinos in nearly every country across the globe. Although roulette doesn’t offer you the best odds, it doesn’t necessarily offer the worst either. Here are a few tips for players new to the game of roulette.

Read the rest of this entry »

  

Cheating and poker

If you look at the history of poker, cheating has always been part of the game. This was true even in places like Las Vegas, particularly when one-deck games were prevalent.

Here’s an interesting video that discusses this history and some of the specific cheating scams. It also discusses strategies to help you establish or hide your poker face.

  

Video game companies invest in gambling games

Here’s an interesting development:

3G Studios, a video game developer in Reno, is betting on online gambling.

The private company, with 47 U.S. employees, has hired almost 80 contractors in India and China and expects to have 200 dedicated solely to making gambling games by the end of the year. 3G is one of a handful of game makers jockeying for gambling business, expecting states, hungry for new tax revenue, to open the floodgates for Internet casinos.

Nevada is accepting applications for online gambling licenses, and in June, Delaware became the first state to approve online casino gambling for state residents, starting next year. Other states, including California and New Jersey, are considering loosening the rules for wagering on the Web after the Department of Justice reversed a longtime ban on many types of Internet betting in December.

Word is out that Zynga is also pushing their poker game for the same reasons.

There will be huge competition for poker players if we see national regulation, and the gamer companies will be battling the traditional casino companies.

  

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