Casino Gambling Tips and Information
The poker world has been gripped by controversy following Jonathan Tamayo’s $10 million win at the World Series of Poker’s (WSOP) Main Event on Wednesday. [Read more…] about WSOP CONTROVERSY: Winner May Have Consulted Poker Program During Play
A blackjack dealer and two players at Pennsylvania’s Hollywood Casino were charged after they allegedly participated in a fraudulent plot on the gaming floor over the weekend.
The trio stole about $16K in the scheme. The dealer was identified as Yadav Bhandari, 22 while the players were named as Shankar Karki, 37, and Prakash Thapa, 24. The three conspired in the game between Saturday and early Sunday, according to Pennsylvania TV station WHTM.
Pennsylvania State Police said the trio used sleight of hand, capping, and illicit card payouts/dealing, according to the news report.
After viewing surveillance video, state troopers revealed that $16,555 was paid improperly to Karki and Thrpa.
The cases were turned over to local prosecutors.
A man was arrested last week after he allegedly dropped a bag containing 111 suspected fentanyl pills at Idaho’s Clearwater River Casino.
Shortly after the incident, Charlie P. Sherman, 43, of Orofino, Idaho, was apprehended at a Nez Perce Express gas station.
The plastic bag was found by a casino employee at about 5:30 p.m. Thursday on the casino’s gaming floor. The Nez Perce County Sheriff’s Office was alerted and a deputy seized the narcotics.
Sherman dropped the bag as he walked near a restroom by a casino entrance, authorities said.
Sherman was booked at the Nez Perce County Jail and appeared in court on Friday where his bail was set at $25K. His next court date is on July 22.
He was charged with trafficking in fentanyl, according to Big Country News. Sherman has yet to enter a plea on the trafficking charge.
The pills in the bag were sent to a lab to be tested. Given the number of pills, the charge relates to trafficking of the illegal drugs rather than just a possession charge.
Under a new state law, those convicted on a fentanyl trafficking charge, who had in their possession between 100 and 240 fentanyl pills, face three years in prison and at least $10K in fines.
Idaho House Bill 406 took effect on July 1. It was approved by the Idaho House of Representatives by a 55-13 vote, and by the Idaho Senate by a 29-7 vote.
The measure has stiffer penalties for larger amounts of fentanyl. The state will sentence a guilty defendant to five years in prison and order the payment of at least a $15K fine for between 250-499 fentanyl pills. For 500 or more pills, a guilty defendant will be sentenced to 10 years in prison and be forced to pay at least a $25K fine.
The post Casino Crime Roundup: Blackjack Dealer, Players Arrested in $16K Scheme appeared first on Casino.org.
Rephrased by The Mystic Gambler
A New York State visitor to Las Vegas won $436K during a stop at the Paris Las Vegas on July 2.
The mystery guest from Middle Village, New York, hit the jackpot with a royal flush. He was playing three-card poker. [Read more…] about Jackpot: Paris Las Vegas Player Wins $436K With Royal Flush
With the Tropicana shuttered in April and with the Mirage heading for a temporary closure starting July 17, it doesn’t take an expert to figure out that room supply on the Las Vegas Strip is declining. [Read more…] about Strat Could Be Mirage Closing Winner, Says Analyst
As highlighted by a year-to-date loss of 3.11%, MGM Resorts International (NYSE: MGM) stock has spent much of 2024 dithering, but a 7.66% jump over the past month indicates the shares have some momentum. Some analysts concur.
In a new report to clients, BTIG analyst Clark Lampen initiated coverage of the casino giant with a “buy” rating and a $52 price target, which implies upside of 20.14% from today’s closing price of $43.28. The analyst believes it’s possible the stock could build on recent momentum with the assistance of upward earnings and revenue estimates.
Those catalysts would be sourced via ongoing strength on the Las Vegas Strip and in Macau as well as capital return efforts, including the possibility of a dividend from the MGM China unit. That entity is 56%-owned by the Las Vegas-based parent and runs two integrated resorts in Macau.
Likewise, MGM remains one of the most dedicated buyers of its own shares of any company in the US. Since 2021, the operator has pared its shares outstanding tally by 36% due to multiple share buyback plans.
BTIG’s Lampen sounded a constructive tone on MGM’s digital operations and its Las Vegas Strip footprint. MGM is the largest operator in the US casino center.
With Vegas implied at ~8x ’24 earnings before interest, taxes, depreciation, and amortization (EBITDA) within our sum-of-the-parts (or ~5x when lease liabilities are capitalized at 8x cash rent, rather than full BS liability), the current fundamental story doesn’t seem appropriately discounted, and we’d expect the multiple to expand as Vegas concerns fade and numbers move higher,” observed the analyst.
Lampen also noted MGM’s digital business is an unfolding story that may not be getting the credit it deserves among market participants. Last week, the company said its LeoVegas will acquire the US operations of Tipico Sportsbook in a move aimed at bolstering its tech stack.
The analyst called MGM’s digital operations a marquee driver of “growing delta between BTIG’s estimates” and consensus forecasts stretching out over several years.
In addition to the possibility of a dividend MGM China dividend and the parent company’s domestic shareholder return efforts, Lampen added it’s possible that the stock could be sparked by the sale(s) of regional casinos.
In March, rumors surfaced that MGM was mulling the sale of MGM Northfield Park, a racino near Cleveland, and its eponymous casino hotel in Springfield, Mass. The operator has yet to publicly confirm it’s considering divesting those or any of its regional casinos nor did Lampen mention specific properties the operator could sell.
While it’s possible MGM is evaluating sales of some of its regional casinos, the current interest rate environment is hard on prospective buyers that need financing, meaning the most desirable suitors are those that can execute transactions with minimal need for additional capital. That diminishes the pool of would-be buyers for regional casinos.
The post MGM Stock Has Makings of a Winner, Says Analyst appeared first on Casino.org.
Rephrased by The Mystic Gambler
A man who claimed to have never gambled before struck it rich just moments after placing his first bet at a casino resort in Atlantic City.
Hard Rock Hotel & Casino Atlantic City said in a release that a lucky gambler arrived at the Boardwalk resort on June 26. The man, who wished to remain anonymous following his life-changing win, told casino staff that he had never been inside a casino before that day.
The person inserted $100 into a Wheel of Fortune slot machine and says he was down about $90 when one of his final $10 spins hit the progressive jackpot. The payout was nearly $1.6 million at $1,593,457.33.
We weren’t voted the luckiest casino for nothing,” Hard Rock Atlantic City said in a press release and on its social media channels. “Congratulations to the winner of the life-changing $1.5 million jackpot. This guest was playing with a $10 bet and $1 denomination.”
In February, Hard Rock was named the luckiest casino in New Jersey based on user reviews on Tripadvisor.
Hard Rock Hotel & Casino Atlantic City features 2,425 slots and 130 live dealer table games. The Wheel of Fortune slot the anonymous player won the nearly $1.6 million progressive jackpot will be paid out over a 20-year annuity, game manufacturer IGT confirmed.
The Wheel jackpot ranks within the top five slot wins in the history of Hard Rock Atlantic City. The casino celebrated its sixth-anniversary last month.
IGT says its Wheel games are the most popular slot machines in the U.S. commercial and tribal gaming industries. Since debuting the branded slots based on the popular syndicated evening gameshow in 1996, IGT says 1,180 millionaires have been created via Wheel jackpots.
The Wheel slots have delivered over $3.5 billion in jackpot prizes, and, on average, someone wins a jackpot worth at least $100K every 72 hours.
The lucky Hard Rock player is the envy of millions of longtime casino gamblers who have never won a slot jackpot anywhere near the $1.59 million prize he claimed.
The term “beginner’s luck” has no traceable origins but refers to the idea of a newbie participating in a sport, game, or activity for the first time and finding unlikely success. The term is traditionally used in pursuits of skill like a sport but is also lent to chance-based endeavors like playing a slot.
There’s also the thinking that beginner’s luck sometimes arises because of “confirmation bias,” a psychological phenomenon in which people are likelier to project outcomes based on their personal history. If someone new to a casino hasn’t ever experienced repeated losses — nor understands just how difficult and unlikely it is to win a jackpot — they’re perhaps likelier to achieve one.
Regardless of whether it was beginner’s luck, confirmation bias, or some other phenomenon, the Hard Rock guest might be smart to give the Wheel another spin in the future.
The post First-Time Gambler Wins Massive Jackpot at Hard Rock Atlantic City appeared first on Casino.org.
Rephrased by The Mystic Gambler
Denise Ezell, 65, visited the casino on October 30 last year with a friend to play at the progressive blackjack tables. This is a game where players can place a side bet in the hope that their two cards will combine with the dealer’s in a way that triggers a jackpot. [Read more…] about MGM Grand Detroit Sued for Refusing to Pay $127K Progressive Blackjack Jackpot
