Monthly Archives: February 2016

Florida couple claims share of $1.6B Powerball jackpot

After cashing in a winning Powerball ticket for $327.8 million, a Florida couple has modest goals for their first purchases: a new car and a massage. David Kaltschmidt and Maureen Smith of Melbourne Beach were introduced in a news conference Wednesday at Florida Lottery headquarters after turning in the second of three winning tickets from last month’s record $1.6 billion Powerball jackpot.

Florida couple claims share of $1.6B Powerball jackpot

After cashing in a winning Powerball ticket for $327.8 million, a Florida couple has modest goals for their first purchases: a new car and a massage. David Kaltschmidt and Maureen Smith of Melbourne Beach were introduced in a news conference Wednesday at Florida Lottery headquarters after turning in the second of three winning tickets from last month’s record $1.6 billion Powerball jackpot.

Texas gelds racetracks by withdrawing permission to offer ‘historical racing’

Texas horse and dog racetracks fear for their future after state regulators voted to bar tracks from operating “historical racing” machines.

On Thursday, the Texas Racing Commission (TRC) voted 5-4 to withdraw permission for tracks to offer so-called historical racing machines, which allow punters to wager on video simulations of past races from which all the identifying information has been removed.

Opponents of the machines have likened them to slots, and this is a state that doesn’t even allow brick-and-mortar casinos. Proponents have argued that the machines, which offer punters the opportunity to wager between races, help boost racing purses and are therefore essential to the industry’s survival.

The controversy over the machines has been brewing since the TRC approved their use in 2014. The machines were never actually launched, as state courts ruled that the TRC lacked the authority to expand gaming options without the legislature’s approval.

“Market conditions” prompt MGM Resorts to delay new Macau casino opening

Casino operator MGM Resorts says it will delay the opening of its new Macau property due to that market’s ongoing revenue slump.

MGM announced its Q4 and FY15 results on Thursday, reporting similar results as the two other US casino operators with business in Asia, with domestic operations improving and Macau business declining.

For the three months ending Dec. 31, MGM reported revenue falling roughly 8% to just under $2.4b, while operating income swung from $266m in Q4 2014 to a $1.2b loss. Net losses were up more than five-fold to $1.47b.

The net loss was pinned primarily on a $1.5b write-down related to “market conditions” plaguing its MGM China subsidiary, which runs the company’s Macau business.

“Market conditions” prompt MGM Resorts to delay new Macau casino opening

Casino operator MGM Resorts says it will delay the opening of its new Macau property due to that market’s ongoing revenue slump.

MGM announced its Q4 and FY15 results on Thursday, reporting similar results as the two other US casino operators with business in Asia, with domestic operations improving and Macau business declining.

For the three months ending Dec. 31, MGM reported revenue falling roughly 8% to just under $2.4b, while operating income swung from $266m in Q4 2014 to a $1.2b loss. Net losses were up more than five-fold to $1.47b.

The net loss was pinned primarily on a $1.5b write-down related to “market conditions” plaguing its MGM China subsidiary, which runs the company’s Macau business.

Hospital charity pulls prize home from lottery over legal pot grow-op

An Ontario hospital foundation pulled a Toronto-area home from its annual lottery prize offerings this week after realizing it backed onto a residence where legally grown marijuana sent out an “an intrusive odour,” but police in the community say there’s little they can do about such situations. The incident involving the Markham, Ont., home meant to be a prize in the Princess Margaret Cancer Foundation’s 2016 home lottery has highlighted the issue some neighbourhoods face with residences that hold Health Canada licences to grow marijuana for personal use.