The day is nearing when you will not have to bring cash to Vegas.
Cantor Gaming, which operates a growing pocket of sportsbooks in Vegas, says that it now accepts credit cards for accounts at its operations, which means that depending on how you pay off your balance, you’ll either be getting a short-term interest-free loan or you’ll be paying up to 18 percent more vig on your wagers.
There was no word from Cantor if bettors would be able to just walk up to a ticket seller and use their MasterCard, Visa of Discover card instead of cash. More likely, bettors would be issued a Cantor-type card which could be funded with their own credit cards, and be used to bet at electronic kiosks.
It will be interesting to see how successful the program is at sports books, which cater to an older demographic.
Cantor operates books at M Resort Casino, Hard Rock, Tropicana, Cosmopolitan, and the Venetian and Palazzo. It will take over operations at the Palms in a few months.
September launch predicted for N.J. online play
Final details on New Jersey’s push to legalize online gambling are still being worked out in order to make the package acceptable to Gov. Chris Christie, but state Sen. Raymond Lesniak is optimistic that full-bore wagering will be in place by the end of the summer.
Lesniak figures that the bill, which enjoys widespread support, will sail through both houses in the first half of April. Earlier this month Covers.com reported that Christie had agreed to sign the bill without first seeking a state-wide referendum. If it becomes law in April, that would give Atlantic City casinos three months to set up the portals that would allow wagering.
Ontario casino gets new lease on life
With casinos opening all over the United States, it seems bizarre that just north of the border, one came close to closing. But the good news is that Casino Niagara (hard by Niagara Falls) will remain open – at least that’s the word from the Ontario Lottery and Gaming Corp.
The news put to rest rumors that the lottery, which operates the casino, was planning to shut the doors as it worked on a new business model for gambling in the province. Last year a combined total 4.6 million customers streamed through the doors of Casino Niagara and its neighbor Fallsview Casino & Resort.
If the Canadian government approves single-game sports betting, it would give the Ontario casinos a huge boost. The Canadian Gaming Association estimates that Canadians wager $10 billion a year on sports, the vast majority of it at offshore sites rather than through the parlay-only wagering offered through provincial lotteries.
Irish site OK with online tax
Any talk of an increase in taxes causes North American businesses to freak out, but in Europe things are viewed differently. A good example is an effort by lawmakers in Ireland to impose a one percent fee on all betting transactions (not revenue), with the money earmarked for the local horseracing industry.
Paddy Power, one of Europe’s largest online operators, didn’t immediately oppose the tax, with a rep stating that it would be OK with it as long as it was “policed fairly.”
In fact, a company spokesman all but endorsed the proposal, saying, “We have no problem paying tax on our online earnings. We realize the situation the country finds itself in.”
Still an uphill climb in Atlantic City
The beat goes on in Atlantic City, where casinos were unable to take advantage of a warm winter and an extra February day due to leap year. February revenues were down almost 6.0 percent from the same month in 2011, with table game revenue dropping a whopping 10.3 percent. And as the city anxiously awaits the response to the April opening of the new luxury-laden Revel, one property has chosen to play small-ball.
The Atlantic Club, which surprised a lot of folks by remaining open through tough times, is now pitching to the small-budget crowd by offering $19 rooms, $2 beer and restaurants that have slashed the cost of meals by as much as 50 percent. It is also believed to be the only casino that is not charging a parking fee, swallowing the state-required $3 fee.
Casino expansion gets the go-ahead in New York state
Evan as AC moves to try anything that will stem the flow of red ink, a new drag on the N.J. market looms in neighboring New York. To boost development in the Empire State, lawmakers have approved an amendment to the state constitution that would allow the construction of as many as seven new casinos.
It will be a while before shovels will turn dirt, but in a few years the Northeast will be flooded with casinos – as many as 12 in New York (including five tribal casinos now in operation) to go along with the dozen in Atlantic City, 10 in Pennsylvania, the two Connecticut giants (Foxwoods and Mohegan Sun) and three mega-casino/resort properties to be built in Massachusetts.
Back to court for Adelson’s lawyers
There’s nothing Las Vegas Sands CEO/billionaire Sheldon Adelson likes more than a sticky court fight, and he’s got another one on his hands. LVS now faces a $375-million lawsuit in Macau, accused by the Asian American Entertainment Corp. of reneging on a deal to join forces to bid for a new gaming license. AAEC claimed that Adelson’s company backed out of an agreement, then partnered with another company to build a casino similar to the Venetian in Las Vegas.
Minnesota can’t move the chains on new stadium funding
Minnesota lawmakers can’t seem to get their act together to pass legislation that would use gambling revenue to fund the state’s $400-million share of the cost to build a new stadium for the Vikings.
Several times over the last year it appeared that there were enough yes votes to get the deal done, but last week a key committee vote was delayed while revenue estimates were re-examined. The money would come from electronic wagering at bars and clubs, but no one seemed to know if projections on the state’s take were anywhere near accurate.
Olympics prop bets
Online wagering on the Olympics is under way, and the United States is a 4/7 favorite to win the most medals. Russia is the long shot, at 33/1. In England, there is a cool prop wager at Belle Rock Entertainment, which is offering only 4/11 odds that the Olympic torch will be dropped along the route in Great Britain.
Las Vegas sportsbook accepting credit cards at windows
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