Lottery provider Scientific Games Corp., which completed a $1.5 billion buyout of slot machine maker WMS Industries last month, replaced its chief executive Tuesday and named its largest shareholder as chairman.
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If Congress makes no progress on a national framework for online gambling this session, it won’t be for a lack of legislation.
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On Sunday, the Washington Post reported on casino billionaire Sheldon Adelson's campaign to stave off the fast-moving legalization of online gambling. For him, it's an all-out effort to stifle competition for the Las Vegas Sands, one of the biggest brick-and-mortar gambling operations in the country.
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New Jersey will not be given another chance to argue its case for legalizing sports betting in a federal appeals court, leaving the U.S. Supreme Court as the state’s only recourse.
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A representative of an International Game Technology outside investor resigned his seat on the slot machine manufacturer’s board of directors eight months after a contentious proxy fight landed him on the corporate governing body.
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The marriage between lottery provider Scientific Games Corp. and slot machine manufacturer WMS Industries is still in the honeymoon phase.
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| Schuetz said that it may not be viable to allow the introduction of other online gambling activities, for fear that they would cannabalize tribal casino establishments across the state. According to Schuetz, the formation of interstate compacts with neighboring states is not a priority for California’s impending online poker market, simply due to the sheer size of the population in the Golden State. Asked about the chances of online poker legislation passing in 2014, Schuetz said that he did not believe it would come about since it is an election year. |
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Australian readers may recall the name Lawrence Escalante, the young Perth entrepreneur who raised capital online to launch his Facebook social gaming company Virtual Gaming World and its Chumba Casino subsidiary.
Escalante used a typically social gaming business model to generate revenues, allowing his online players to buy extra chips for premium action rather than playing the slots and card games for rewards.
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