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Las Vegas casinos hope for the best when it comes to collecting debt

11.01.2013     07:12 AM     Printer Friendly
SportsMemo.com blog entry.
Interesting article in the Las Vegas Sun about how casinos deal with gambling debts from high rollers.


John Kempf, a casino industry analyst with RBC Capital Markets, says casino companies tend to set higher allowances for debt more because they are depending on a few individuals to pay up. In some cases, a single customer might make up a quarter or more of a casino company's outstanding debt.





Tags: Las Vegas




Sportsbook manager pinched for shady dealings

10.31.2013     07:12 AM     Printer Friendly
Former Palms sportsbook manager busted for taking bogus quinella bets. Article courtesy of the Las Vegas Review Journal.



Tags: Las Vegas




Cantor Gaming still hoping to change sports betting industry

10.29.2013     06:46 AM     Printer Friendly
SportsMemo.com blog entry.
Good article in the Wall Street Journal about the ups and downs for Cantor Gaming. Topics include Mike Colbert, money laundering, the practice of taking big bets, wiretaps, and a canceled IPO.


“Maybe Lee [Amaitis] is right and everybody else has been wrong,” said Mark Lipparelli, a former head of the Nevada Gaming Control Board. “I think you have to get to yourself to a place that says you don’t believe in market theory to think it won’t work. I happen to believe in market theory.”

“They came into town with guns ablazing, saying there’s a new way to run sports books,” said Micah Roberts, a former casino sports-book director who writes about sports betting. “They believed that eventually, in the long haul, you will grind out a profit by taking all bets.”






Tags: Las Vegas




Caesars Palace being investigated for money laundering

10.23.2013     01:55 PM     Printer Friendly
UPDATE

Caesars is the news again and this time it's a little more serious than walking away from a potential casino deal. Turns out Caesars Palace is being investigated for money laundering. Last week's Caesars' stock was hovering around $20-$22. When news broke of the alleged financial shenanigans it dropped to just above $17. So the stock market and betting markets really are one in the same. News breaks that Tom Brady's ACL is being held together by fishing line and the Pats go off as home dogs to the Dolphins!





Caesars bails on Boston casino project

10.21.2013     12:02 PM     View Read more


Tags: Las Vegas




Oddsmakers think college footbal total of 100 is coming

10.11.2013     01:36 PM     Printer Friendly
Las Vegas oddsmakers think that a college football game with a total of 100 is on the horizon. Oregon vs. Baylor in a dome, anyone?

 



Tags: College Football Oregon Ducks Baylor Bears Las Vegas




No title will do justice to this ridiculous story

10.11.2013     07:00 AM     Printer Friendly
SportsMemo.com blog entry.
The story deserves a big WTF but if you got a few minutes to kill and want a few chuckles, here you go. We don't want to give too much away but it involves high roller/gambler Don Johnson (he's graced these pages before), a Las Vegas club DJ, a request to play Bon Jovi, and an unpaid debt.



Tags: Las Vegas




College Football Gambling: Las Vegas bettors all over Baylor Bears

10.09.2013     12:02 PM     Printer Friendly
Umm, yeah. Note that LVH opened -17 and has since moved only a half point to -17.5.

copy_baylor.JPG



Tags: College Football Baylor Bears Kansas State Wildcats Big XII Las Vegas




Update: Billy Walters sticks up for Cantor, others not so much

09.06.2013     12:35 PM     Printer Friendly
UPDATE

Part II of bettingtalk.com's excellent interview with Billy Walters. Disgusted with the current state of the Las Vegas sportsbook scene, Walters did however throw praise towards Cantor Gaming as a place where sharp bettors could play. But according to the article, other pro bettors have had issues with Cantor, issues that seemingly coincided with Mike Colbert/Pinnacle shakedown.





Billy Walters says sports betting in Las Vegas is awful

09.06.2013     07:02 AM     View Original Blog


Good article from Read more



Tags: Las Vegas Billy Walters




Billy Walters says sports betting in Las Vegas is awful

09.06.2013     07:02 AM     Printer Friendly
SportsMemo.com blog entry.
Good article from bettingtalk.com as Billy Walters talks about the current state of sports betting in Las Vegas.


“Today in Las Vegas, I can bet about 20 percent of what I used to be able to bet,” Walters explained in a Wednesday phone interview. “College football totals are a good example. You can bet more money on them with one sportsbook outside of Nevada than you can at all of the sportsbooks in Nevada combined.






Tags: Billy Walters Las Vegas




South Point now offering sports betting app

09.04.2013     11:30 AM     Printer Friendly
SportsMemo.com blog entry.
Yesterday Las Vegas' South Point Casino officially unveiled its new sports betting app. The app is free and requires a minimum $100 deposit.


“Our guests have the possibility to place their sports bets from home, while at South Point at dinner or at the bar,” asserted Ryan Growney, general manager of South Point. “By adding this new mobile betting application to our sports books offerings, we can showcase a new method of placing bets to sports fans throughout Nevada.”





Tags: Las Vegas



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