Gambling, Casino | featured news

Billionaire Sheldon Adelson said on Wednesday he plans to spend $35 billion on a mini-Las Vegas strip in Spain where he is courting the country's two top urban areas, Barcelona and Madrid, with plans for a casino complex.

Macau casino billionaire Stanley Ho reached a settlement resolving a two-month dispute with his family over a controlling stake in his multibillion-dollar gambling empire.

Gov. Arnold Schwarzenegger issues an executive order requiring recipients to promise they will use cash benefits only to meet basic subsistence needs. GOP legislators call for the cash to be returned.

Faced with a drop in gambling revenue, states are adding games, considering new casinos and increasing lottery options — anything to keep their cut of the profits rolling in.

Wynn Macau's strong debut in Hong Kong on Friday shows appetite for gambling stocks is strong despite high valuations, and will cheer rival Las Vegas Sands, which plans a listing later this year.

Much to everyone's surprise, Russia is going through with a law that bans nearly all casinos and confines gambling to four special zones in far-flung regions.

Allen Iverson has been banned from both MGM and Greektown casinos in downtown Detroit, the Detroit News reported on its Pistons blog.