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NORTON NOTES: FL Legalize Sports Betting
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By Steve Norton
CEO, Norton Management
Sports Betting on Table This Legislative Session
My comment:
What legislators and the opponents, especially Disney, need to understand, is that bookies and illegal overseas gaming sites already offer sports betting to Florida residents. The bad news is that oversight is missing, odds are questionable, big winners may not get paid, plus the jobs, any taxes and employment is going overseas, to Cyprus or many Caribbean destinations.
The Seminole Tribal casinos are here to stay, and the out of date compact needs finality. Since these casinos are major Florida attractions, they should be given the games of Craps and Roulette that are in all of the US commercial casinos statewide. Roulette is the favorite game in Europe, and Florida is a growing destination for European travelers.
Caesars: Icahn Buys, Apollo Sells
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Icahn now owns 15.53 percent of CZR, making him the largest shareholder and potentially giving him the ability to call a special stockholder meeting.
Apollo sold 38.900 million shares at $8.50 and now owns 29.805 million, or 4.4 percent. Its holding company Hamlet Holdings now owns 5.7 percent.
Icahn added 38.922 million shares at $8.50 to $8.55 in privately-negotiated transactions.
NORTON NOTES: Robots Are Coming
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By Steve Norton
CEO, Norton Management
MGM Resorts May Cut Some Bartender, Cashier Jobs in Las Vegas
My comment:
This is good news for the waitresses, who won't have to share tips with the service bartenders.
Unions now have to come up with a unique way to unionize these machines. After cashiers, is housekeeping next? What about robotic casino dealers?
Wynn Plans World’s Biggest Casino
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Initial investment would be $8 billion to $9 billion with annual operating expenses of $940 million to $1.4 billion.
WYNN plans to partner with at least one local company.
WYNN also said it will open an office in Tokyo this summer.