Monthly Archives: March 2017

Sands Bethlehem reportedly sold for $1.3b to MGM Resorts

Casino operator Las Vegas Sands has reportedly reached a $1.3b deal to sell its Pennsylvania gaming venue to rival MGM Resorts.

Late last week, local media reported that Sands Bethlehem, which consistently ranks number one in table game revenue and second in slots among Pennsylvania’s dozen casinos, was on the block. The reports quoted internal emails sent to Sands Bethlehem employees from management cautioning them that a sale was “not imminent.”

On Wednesday, the Allentown Morning Call reported that Sands’ owner had reached an agreement in principle to sell Sands Bethlehem to MGM Resorts for around $1.3b. While necessary due diligence will likely take several weeks to conclude, the Morning Call’s two sources now claim that the sale was “imminent.”

Officially, Las Vegas Sands continues to take a tight-lipped stance, with spokesman Ron Reese saying only that the company had no announcement to make at this time. MGM reps were similarly unwilling to confirm or deny, saying the company would have no comment “on this or any other merger and acquisition activity.”

Timofey “Trueteller” Kuznetsov Crushing Online Nosebleed Cash Games; Daniel Cates Biggest Loser

The online nosebleed cash games, which nowadays are played exclusively on PokerStars, have dried up a bit, but that hasn’t stopped several notable pros profiting six figures through the early part […]

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Tribes main concern at Michigan online gambling hearing

Michigan’s latest online gambling bill is headed for the state senate floor after a committee overwhelmingly approved the measure.

Wednesday saw the Michigan Senate’s Regulatory Reform Committee vote 7:1 in favor of sending state Sen. Mike Kowall’s SB 203 online gambling bill to the senate floor. The vote wasn’t a surprise, as six committee members were among SB 203’s co-sponsors.

The hearing preceding Wednesday’s vote lasted around 70 minutes, a mercifully brief affair following Tuesday’s online gambling hearing in Pennsylvania, which clocked in at over four hours. It helped that Kowall was the only speaker who faced any questions from the committee, a lack of curiosity that also featured large in the same committee’s 2016 hearing on Kowall’s previous gambling bill.

Michigan’s list of witnesses featured many speakers who’d also appeared in Pennsylvania, offering a palpable sense of déjà vu. Among the repeat offenders were Poker Players Alliance director John Pappas, Amaya Gaming’s Nicholas Menas and the Innovation Group’s Paul Irvin, who predicted the state’s annual tax take from online gambling could total $32m.