Law Enforcement Charged with Stealing Money From Illegal Gambling Operation

May 10, 2008

The chief of the Triad Alcohol Beverage Control Law Enforcement was arrested Wednesday, and is charged with stealing more that $1000 in Federal Bureau of Investigation funds, according to papers filed in U.S. District Court.

According to the documents, ABC Chief Danny Ray Burton was under investigation for allegedly stealing money on separate occasions.

Onex Eyes Move Into Gambling Industry

May 9, 2008

Onex Corp. is ready to place a bet on the U.S. gambling industry, with struggling casino icon Tropicana Entertainment LLC a potential target for Gerald Schwartz's buyout firm.

Onex has top-end help in its hunt for a gambling deal, teaming up with Alex Yemenidjian, the former president of Kirk Kerkorian's MGM Grand casino empire. The firm is employing the same strategy in another beat-up business, building products, where Onex has joined with Masonite International Corp. founder Philip Orsino to seek deals.In gambling, the focus isn't just on the neon and flash of the Las Vegas strip, where the Tropicana is a well-known name in lights, but in more out-of-the-way places.

MGM Mirage Profits Fall 30 Percent As Economy Slumps

May 7, 2008

MGM Mirage Inc, the world's second-largest casino operator, said on Tuesday quarterly profit fell 30 percent as a slower U.S. economy hit spending in Las Vegas.

But the company's recently battered shares were up more than 6 percent after MGM said it is continuing to pursue ways to enhance revenue and reduce costs and suggested that the second quarter may see improved trends. MGM is the fourth large gaming company to report deteriorating quarterly earnings, following Las Vegas Sands Corp, Wynn Resorts Ltd and Boyd Gaming Corp last week.

Prosecutor Admits To Being Gambling Addict

May 6, 2008

Michael Paul Shirley, 47, of Lindisfarne, had pleaded guilty to 50 counts of stealing and one count of false accounting by a public officer.  The Supreme Court in Hobart heard Shirley would go in person to collect the money from the Tasmania Police property store. The cash, seized from the proceeds of crime and mostly from drug dealers, was usually transferred electronically or by police officers. But prosecutor Mark Miller said Shirley's practice was never questioned because of the position he held.

Online Gambling: Youths Prefer Web Betting

May 3, 2008

Young adults - a key growth sector for Canada's gambling industry - are very interested in such "technology driven" options as online gambling, which is not yet legal in Canada, an industry conference heard yesterday.

Citing a national survey, pollster Allan Gregg told the 2008 Canadian Gaming Summit under way in Montreal that one- third of Canadians say they are gambling less than they did three years ago, while those under 35 years of age are more likely to be gambling more.