Trends, News & Interesting Reads

The Nevada Gaming Commission slapped Wynn Resorts with a $20 million fine for their failure to investigate claims that founder, former board chairman, and former CEO Steve Wynn had sexually harassed at least eight women. The eight women were employees of Wynn Resorts and said that they were harassed during work time in their workspace.

The race to get in on Japan’s new casino industry is heating up as operators from around the world woo local officials and government lawmakers in their bids to get a  piece of the pie.  Many observers question whether these outsiders fully understand the Japanese infrastructure which they should know in order to do business properly in the country.

Between 1992 and 2018, sports betting in the Vegas casino and other United States gambling venues was virtually outlawed based on the Professional and Amateur Sports Protection Act. The law, passed by Congress, eliminated states’ rights to allow sports betting, except for states (such as Nevada) where sports betting had been in operation before the law took effect.

Americans can expect that their 2018 taxes will see itemized deductions eliminated or scaled back. Deductions for miscellaneous expenses, subject to the floor of 2% of AGI (Adjusted Gross Income) is included in this assessment. If you play at the online casino or at any other Vegas casino venue you can continue to deduct your gambling losses up to the amount of winnings.

Some sports fans assume that the laws for sports betting are the same laws that apply to daily fantasy sports but that’s not accurate. Many states have specific laws that relate to DFS. The laws vary widely from one state to the next, with some encouraging DFS and others prohibiting it completely.  So when you're ready to take a break from your slots spinning at Grande Vegas Casino, check it out.

Online gambling was launched in the late 1990s with a few sites that offered basic table games and three-reel slot machines. Over the last 20 years the industry has grown by leaps and bounds. Today, Grande Vegas Casino and other online casino gambling is a multi-billion dollar industry that serves hundreds of millions of gamers who play online on a PC or a mobile device.

Of course, as we all know, you can't beat our Grande Vegas online casino for fun when and where you want it.

And yet, for that once-in-a-whatever vacation, Macau is a serious destination for many international visitors, but also for Chinese gamblers.  But, new regulations on foreign currency transactions, announced by the Chinese government late last month, made Macau’s casino operators nervous. The waters are starting to calm now as they say that, as of today, there are no signs of any negative impact on the junket operators or on the gaming market.

If you live in the US northeast and one day should feel the urge to play at a land-based casino, Wynn Resorts has indicated that it still intends to open its Encore Casino Resort, this summer. This, despite the fact that Massachusetts’ Gaming Commission has not yet released its report regarding whether the controversy over former CEO Steve Wynn’s sexual misconduct should render the company ineligible to hold a Massachusetts casino license. In the meantime, keep your Grande Vegas online casino close for spontaneous, enjoyable, online casino play.

REITs -- Real Estate Investment Trusts -- have become an important part of how casinos are owned. These trusts are similar to mutual funds but instead of owning stocks, the investor develops a portfolio of residential and/or commercial properties or a portfolio of the mortgages for those online casino or brick-and-mortar properties.

Taking a short break from our Grande Vegas online casino news, let's look at what's new at one of the most famous land-based casinos in the world.  A summary of Nevada’s biggest casinos’ fiscal standing showed that most of the $1.2 billion casino-based losses in the state could be traced to Caesars Entertainment. The casino giant’s bankruptcy restructuring was blamed since, other than that blip, the reports show that Caesars did relatively well.