Nevada Governor Vetoes Online Gambling Bill

Gov. Brian Sandoval vetoed a bill on Tuesday that would have legalized online gambling in Nevada, saying the proposal lacked clarity and didn't include enough regulatory safeguards.

The measure had passed the Democratic-controlled Legislature last month on a bipartisan vote of 27-12 in the Senate and 41-25 in the Assembly. It would have authorized Nevada to license operators to offer Internet poker, blackjack, roulette and other games to residents and visitors within state borders.

Sandoval said in his veto message that he was not convinced the measure provided enough regulatory framework or protections for consumers. He also said he was concerned about how the legislation might impact Indian gaming compacts Nevada has with tribes.

"Given the lack of clarity and other concerns with this bill, I am vetoing it," Sandoval wrote. "If the Legislature desires to pursue this issue during the 2017 session, my staff will work with them to ensure any potential bill addresses these issues."

Supporters of SB257 said it would have brought millions of dollars in new revenue to the state while creating thousands of jobs. They argued that it would have been hard for people living in states without such gambling laws to play legally, so most would continue to do so illegally.

Backers also contended that regulating gaming would make it safer for consumers because it would give the state authority to license and oversee operators.

Republican Sen. James Settelmeyer, one of the bill's sponsors, called Sandoval's veto disappointing but not surprising. He predicted an uphill battle getting it through the Legislature again next year, given that lawmakers are more narrowly divided between Republicans and Democrats.

Las Vegas Sands To Invest Another $5 Billion In China

Just a few months ago, Las Vegas Sands announced that it would be investing an additional $2 billion in its Chinese properties. This week, the company has announced that it will be investing an additional $5 billion in order to expand its presence in the country.

The company currently operates four casinos in China, and this new investment will see the construction of two new properties - one in Macau and one in Shenzhen. The investment will also see the enhancement of existing properties, as well as the addition of new amenities and attractions.

"Our growth strategy in China is clear," said Adelson. "We will continue to focus on building iconic resorts that combine leisure and entertainment with premium accommodations and world-class amenities."

This news comes as something of a surprise, as casino operators have been struggling to find success in China recently. However, Las Vegas Sands has been able to buck this trend, thanks largely to its strong relationship with the Chinese government.

"Las Vegas Sands has been able to build a successful business model in China by continuing to invest and focus on premium offerings for our customers," said George Tanasijevich, CEO of Las Vegas Sands Asia. "This latest investment demonstrates our commitment to the market and our confidence in its future."

Wynn Enters Into Agreement With MGM Resorts

On January 31, Wynn Resorts Limited entered into an agreement and plan of merger with MGM Resorts International. The all-stock deal is worth $2.4 billion and will create the world's largest gambling company.

Under the terms of the agreement, MGM shareholders will receive 0.8 shares of Wynn for each share of MGM they own. This represents a premium of 26% to MGM's closing price on January 30th.

The combined company will have a market capitalization of $14.8 billion and will operate 57 casinos in 13 states and 5 countries. It will also have a leading presence in Macau with 9 casinos.

Stephen A. Wynn, Chairman and CEO of Wynn Resorts, said "the combination creates the world's largest gaming company with a leading presence in both Las Vegas and Macau, two of the most important global gaming markets."

He added that the transaction is "a tremendous opportunity to create value for our shareholders" and that the combined company will be "well positioned to compete effectively in an increasingly competitive global marketplace."

Jim Murren, Chairman and CEO of MGM Resorts, said that the merger is a "natural evolution" for both companies and that it will provide "significant benefits to our guests, team members and shareholders."

He added that the combined company will have a "unique portfolio of iconic destinations and a larger platform for future growth."

The deal is expected to close in the second half of 2019, pending regulatory approvals.

Caesars Entertainment Finalizes Deal With Tilman Fertitta

Caesars Entertainment Corporation announced on Monday that it had finalized its deal with Tilman J. Fertitta, the wealthy businessman and owner of the Golden Nugget casino chain.

The all-cash transaction is worth $5.1 billion, and will see Mr. Fertitta become the chairman of Caesars Entertainment. He will also have a seat on the company's board of directors.

"This is a transformational moment for Caesars Entertainment," said Mark Frissora, the company's president and CEO. "Tilman is a world-class operator with a proven track record in the gaming and hospitality industries."

For Mr. Fertitta, the acquisition represents an opportunity to expand his empire beyond casino resorts into hotel chains and convention businesses.

"Caesars Entertainment is one of the most iconic names in gaming and hospitality, and I am excited to partner with them to maximize the value of their assets and create significant upside for shareholders," he said in a statement.

The deal still needs to be approved by regulators, but is expected to close before the end of the year.

New Study Shows Gambling Addicts Are 4 Times More Likely To Die Young

A new study led by the University of Liverpool has shown that gambling addicts are more than four times more likely to die young than those without a gambling problem.

The study, which was published in the journal Addictive Behaviors, looked at data from over 8,000 people who had been diagnosed with a gambling addiction and compared it to data from over 31,000 people without a gambling problem.

The results showed that the risk of early death was four times higher for those with a gambling addiction than for those without. The main causes of death were identified as suicide, cancer, and cardiovascular disease.

Dr. Mark Griffiths, one of the authors of the study, said that the findings were worrying but not surprising. "Gambling addiction is a serious mental health disorder that can have tragic consequences for sufferers and their families," he said.

He added that the findings highlight the need for better treatment options for gambling addicts. "We need to provide better support for these people so they can get the help they need to overcome their addiction and lead healthy lives."