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☆ Sports betting is the next frontier for Wall Street's smartest quants to conquer
▼ + stars: | 2024-10-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

The space has exploded in the US as dozens of states have legalized online gambling. Just as quant traders have changed equity markets forever, sports betting might be next. AdvertisementThrough the second quarter of this year, online gambling site FanDuel averaged 3.3 million bettors each month. AdvertisementAlready, the smartest Novig users are sanding away the easiest returns. There's demand from Novig users for the exchange to release software that would allow traders to program a bot to trade for them.

Persons: —, Ed Thorp, Jim Simons, Ken Griffin, AQR's Cliff Asness, PDT's Peter Muller, Bill Bentley, Kelechi Ukah, Jacek Dmochowski, Paddy, Dmochowski, Jane, Ukah, sportsbooks Organizations: Service, Renaissance Technologies, MIT, Business, City College of New, Sports, UCLA, Paddy Power, MGM Locations: Dublin, City College of New York, Vegas

☆ Kamal Bherwani lost his son to fentanyl poisoning. He’s developed a video game he hopes will save others
▼ + stars: | 2024-10-25 | by ( Faith Karimi | ) edition.cnn.com time to read: +10 min

“Dad, is it all right with you if I go to the Mohegan Sun for the night with my boys,” Ethan Bherwani texted him. Moments before he collapsed to the floor, Ethan Bherwani had bought cocaine from a man in a casino restroom. Courtesy Kamal BherwaniOn the night of his son’s funeral, Kamal Bherwani started a foundation that seeks to educate young people about the dangers of fentanyl. Ethan Bherwani was interested in many things, from flying to music to following the New York Mets. Kamal Bherwani treasures Ethan’s phone, which has given him glimpses into his son’s mind.

Persons: CNN — Kamal Bherwani’s, “, ” Ethan Bherwani texted, “ Will, Ethan texted, Ethan, Kamal Bherwani, Ethan Bherwani, “ Ethan, ” Kamal Bherwani, Bherwani, ” Bherwani, he’d, ”, Kamal, Viktor Frankl, Ethan Bherwani’s, He’s, Johanna, Tyler, Ethan’s, Ava, TGA, Jerrard Santiago, Santiago, ” Jeff Hamilton, ’ ”, ‘, Don’t Organizations: CNN, Mohegan Sun, CDC’s National Center for Health Statistics, Baruch College, New York Mets, Food and Drug Administration Locations: Connecticut, Hartford, United States, Roslyn , New York, New York City, Maryland, New Haven , Connecticut, Mohegan

☆ I became a regular at my local casino when I was unemployed. I networked directly with people in power and landed my next gig.
▼ + stars: | 2024-10-20 | by ( Adam Sheinman | ) www.businessinsider.com time to read: +5 min

When I was unemployed, I decided to visit my local casino in Colorado. In the casino, I was able to network with people in power and even landed a gig. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. As an exuberant, gregarious, and genuine person, I was able to connect directly with those in power.

Persons: —, Trey Parker, Parker, Black, I'm, Joe, that's Organizations: Service, YouTube, Society, Casinos Locations: Colorado, New York, Denver, Vegas, Sin City

☆ Hotel key cards are being replaced by digital options like Apple, Google wallets
▼ + stars: | 2024-09-01 | by ( Kevin Williams | ) www.cnbc.com time to read: +7 min

Many hotel chains are racing to replace the plastic room key with digital options, including Apple Wallet and Google Wallet apps. Plastic hotel key cards have had a rough few years. Cybersecurity and safety issues have prompted many hotel chains to accelerate plans to transform hotel room door locks. Power's research on hotels found that only 14% of total branded hotel guests used digital keys during their hotel stay. "Guests using 'digital key' provide significantly more positive ratings for safety of the hotel compared to those who did not use digital keys," Stokes said.

Persons: Kimberly Elder, Eli Fuchs, Fuchs, Lee Clark, Clark, Andrea Stokes, Stokes, Chad Spensky, Spensky, Mehmet Erdem, William F, Erdem, There's Organizations: Apple, Hilton Hotels, Hilton, Valor Hospitality Partners, Holiday, Retail, University of Las, Harrah College of Hospitality Locations: U.S, Franklin , Tennessee, J.D, ., Las Vegas

☆ Nights in Las Vegas Are Becoming Dangerously Hot
▼ + stars: | 2024-08-11 | by ( Ronda Kaysen | Aatish Bhatia | ) www.nytimes.com time to read: +12 min

This June and July, nights in Las Vegas stayed above 79 degrees for all but seven days. And hot nights are something more people are experiencing: No American major metro area has grown as much as Las Vegas has over the last three decades. Even after the sun set in Las Vegas in June and July, temperatures routinely remained in the 80s and 90s. Populations have doubled or more over a generation, with the number of abnormally hot nights rising at similar rates. A growing dangerLas Vegas metro 1984 Urban Core This was the Las Vegas metro in 1984.

Persons: ”, Matt Woods, —, Bridget Bennett, Ariel Choinard, “ You’re, Ms, Choinard, Anita Swogger, Tristan, Chima Cyril Hampo, Mr, Swogger, Tollis, Yanci, Yanci Hill, Steffen Lehmann, Blanca Solis, Solis, Richard Kettler, Solis’s, “ Organizations: Vegas, Las Vegas, National Weather Service, The New York Times, Southern, Resilience, Desert Research Institute, Southern Nevada Health, Duke University, U.S ., Atlanta, National Weather, Major metros, Las, Regional Transportation Commission, Drexel University, Weather Service, University of Nevada Locations: United States, Las Vegas, Vegas, Southern Nevada, Clark County, Austin , Texas, Raleigh, N.C, Orlando, Fla, Austin, Phoenix, … Las Vegas Austin , Texas Raleigh, Phoenix Atlanta, Nevada, Arizona, East Las Vegas, Asia, Henderson, Stewart, Las

☆ Sports Betting Is Driving Americans Into Debt, Bankruptcy
▼ + stars: | 2024-08-01 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

AdvertisementIt tracks: The closer you live to a casino, the likelier you are to develop a gambling problem. About 1% of US adults have a severe gambling problem, according to the National Council on Problem Gambling, and 2% to 3% have a mild or moderate problem. Advertisement"By the time everyone gets all excited, we're talking about really large credit-card debt, really large debts to friends and family. A lot of online debt," said Timothy Fong, a clinical professor of psychiatry at UCLA and a codirector of its gambling-studies program. In the sports world, we've recently seen some high-profile examples of young men getting into hot water from sports betting.

Persons: that's, Brett Hollenbeck, Hollenbeck, It's, Michelle Malkin, You've, Timothy Fong, Fong, Young, we've, Shohei, Ippei Mizuhara, Jontay Porter, Malkin, doesn't, it's, Emily Stewart Organizations: University of California, University of Southern, UCLA's Anderson School of Management, National Council, East, East Carolina University's, Policy Initiative, UCLA, MLB, NBA, Sports, Business Locations: Los Angeles, University of Southern California, East Carolina, America, New Jersey

☆ Jim Cramer’s guide to investing: Be tough on your portfolio during a rally
▼ + stars: | 2024-06-18 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

It may seem counterintuitive, but to CNBC's Jim Cramer, one of the best times to scrutinize your portfolio is during a rally. "If the fundamentals aren't changed, if the company hasn't improved, then it might have gotten too expensive as a stock because of the rally," he said. "So, when the market's roaring, give your stocks a hard time, please, hold them to a higher standard. And during a big rally, winning stocks become more expensive and less desirable because the risk and reward ratio becomes worse, he explained. "Because the whole point of owning stocks is that you're supposed to sell them when they go higher to make money."

Persons: CNBC's Jim Cramer, Cramer, it's

☆ Meme Stock Craze: the Sad Return of Roaring Kitty, GameStop, and AMC
▼ + stars: | 2024-05-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Gill, who goes by Roaring Kitty on X and YouTube and by DeepFuckingValue on Reddit, was at the center of the 2021 GameStop saga. Shares of AMC, GameStop's fellow meme stock, surged by nearly 80% on Monday and 30% on Tuesday. What's changed is Roaring Kitty is tweeting, and not even really about a company. If you bought GameStop or AMC shares in 2021, it might not be a bad time to consider selling some to break even. Roaring Kitty is back, and people are tossing their money into the GameStop slot machine.

Persons: Keith Gill, Gill, Roaring Kitty, DeepFuckingValue, Davids, — Gill, tweeting, hasn't, me Gill, they're, it's, Robinhood, Bitcoin, Matt Damon, Eminem, Peter Kafka, cryptocurrency, Kitty Organizations: GameStop, YouTube, Porsche, AMC, UFC Locations: Massachusetts, What's, America

☆ 3 casino-gaming influencers break down how they make money from their content and the challenges of promoting gambling
▼ + stars: | 2024-05-13 | by ( Tiara White | ) www.businessinsider.com time to read: +4 min

Read previewThe expansion of legal gambling in the US has kickstarted the growth of gambling influencers who play and promote sports betting, slots, and other casino games online. On Wednesday at the SBC North America Summit in New Jersey, the three gambling influencers broke down how they make money from their content and the challenges of promoting gambling online. AdvertisementUnlike some other content niches, restrictions on gambling content can limit the ways influencers earn and how much they can make. Platforms like YouTube and Twitch restrict gambling on certain sites, while others, including Instagram and TikTok, limit how gambling content is distributed. The pros and cons of affiliate deals for gambling influencersDuffy said he likes doing affiliate deals because he can be a positive influence in the industry.

Persons: —, Josh Duffy, Kelly Koffler, Jon Della Terza, influencers, Duffy, influencers Duffy, Koffler Organizations: Service, YouTube, Business, SBC North America Summit Locations: New Jersey

☆ Spurred by Teen Girls, States Move to Ban Deepfake Nudes
▼ + stars: | 2024-04-22 | by ( Natasha Singer | ) www.nytimes.com time to read: +1 min

Caroline Mullet, a ninth grader at Issaquah High School near Seattle, went to her first homecoming dance last fall, a James Bond-themed bash with blackjack tables attended by hundreds of girls dressed up in party frocks. A few weeks later, she and other female students learned that a male classmate was circulating fake nude images of girls who had attended the dance, sexually explicit pictures that he had fabricated using an artificial intelligence app designed to automatically “strip” clothed photos of real girls and women. Ms. Mullet, 15, alerted her father, Mark, a Democratic Washington State senator. Although she was not among the girls in the pictures, she asked if something could be done to help her friends, who felt “extremely uncomfortable” that male classmates had seen simulated nude images of them. Soon, Senator Mullet and a colleague in the State House proposed legislation to prohibit the sharing of A.I.-generated sexuality explicit depictions of real minors.

Persons: Caroline Mullet, James Bond, Mullet, ” Ms Organizations: Issaquah High School, Democratic Washington State, State House Locations: Seattle

☆ From Sports Betting to Meme Coins, Young Men Are Gambling in Droves
▼ + stars: | 2024-04-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +9 min

For young men in particular, it's an enticing, if a bit troubling, prospect. For some young men, a level of nihilism about the economy leads to an impetus to take some risks. Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men. The New Jersey report identified a significant prevalence of high-risk stock trading among young men. According to the National Council on Problem Gambling, some 2.5 million Americans have a severe gambling problem, and another 5 million to 8 million have a problem it considers mild or moderate.

Persons: You've, Donald Trump's, Crypto, they're, they've, Timothy Fong, we've, Fong, it's, Kahlil Philander, haven't, Philander, Davids, Goliaths, Warren Buffett, Berkshire Hathaway, Emily Stewart Organizations: GameStop, AMC, NCAA, Pew Research, UCLA, Washington State University, National Council, sportsbooks, Business Locations: America, United States, Berkshire, New Jersey, Atlantic, Jersey, Plenty

☆ A 91-year-old former hedge fund manager says weighing probabilities can prolong your life. Here's how he does it.
▼ + stars: | 2024-04-11 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Edward Thorp, a 91-year-old former hedge fund manager, has some tips for a long life. "Minimize the chance of really bad outcomes of one sort or another," Thorp told Bloomberg. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTake it from a 91-year-old mathematician: Living a long, healthy life is like a game of probability. You want to "minimize the chance of really bad outcomes of one sort or another," Edward Thorp, a mathematics professor, hedge fund manager, and blackjack player, told Bloomberg.

Persons: Edward Thorp, Thorp, — Organizations: Bloomberg, Service, Business

☆ Pro-Navalny hackers accessed a database on Russian convicts, and lowered the price of prison shop food while they were there: report
▼ + stars: | 2024-04-01 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Anti-Putin hackers say they accessed a Russian prison network and stole data, CNN reported. The hackers told the outlet they sought information that could help them find out what happened to Navalny. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Navalny, Putin's only serious political rival, was serving a 19-year sentence at an Arctic penal colony when he died in harsh conditions at the prison on February 16. Hackers have been active on both sides of Putin's war with Ukraine, including multiple attacks by Russian hackers.

Persons: Alexey Navalny, —, Putin, Vladimir Putin's, Navalny, Joe Biden, Yulia Navalnaya Organizations: Putin, CNN, Service, Business Locations: Russia, Russian, Ukraine, Kyiv, Ukrainian

☆ Sports Gambling Was a Gateway Drug to Online Gambling and the Lottery
▼ + stars: | 2024-03-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +10 min

As the prevalence of online betting grows, there's plenty of revenue to be had. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue. Of course, as fun as sports gambling is — as is gambling in general — it has some serious downsides for society. According to the National Council on Problem Gambling, 2 million Americans have a severe gambling problem, and another 4 million to 6 million a mild or moderate problem. The more people gamble — and the more culturally acceptable gambling becomes — the more possibility gambling addiction becomes a bigger issue.

Persons: Lia Nower, DraftKings, Jason Robins, iGaming, Robins, DraftKings isn't, —, West Virginia —, Chad Beynon, Benyon, they're, Nower, Chris Grove, Grove, There's, let's, I've, legalizes iGaming, Emily Stewart Organizations: Knicks, Sports, Disney, American Gaming Association, NBA, NFL, Center for Gambling Studies, Rutgers University, Golden Nugget, Caesars, MGM, Macquarie, Companies, Atlantic City, Acies Investments, EKG Ventures, Vegas, National Council, Business Locations: Washington, Boston, Dublin, — New Jersey , Connecticut, Delaware , Michigan, Rhode Island , Pennsylvania, West Virginia, New York, Atlantic, New Jersey, Jackpocket, America

Add in the potential attendance of the world’s most famous pop star, and there’ll be no blank spaces on the proverbial check Las Vegas could cash by the weekend’s end. “It helps the spectacle of the Super Bowl in general and I think that means that it benefits everyone,” he says. At least one analyst, however, quibbles with just how large the economic impact will be in reality. There is, however, concern “about displacing one type of visitor” for another because of how busy Las Vegas is many weekends already, Matheson says. “Do Super Bowl fans gamble at the blackjack table in the same way?” Matheson wonders, referring to the typical Las Vegas gambling visitor.

Persons: Taylor Swift, there’ll, ”, Curtis Dubay, Clark, Wells, Swift, Travis Kelce, Dubay, They’re, ” Victor Matheson, ” There’s, Matheson, “, ” Matheson Organizations: Vegas, U.S . Chamber of Commerce, Kansas City Chiefs, San Francisco 49ers, Sunday, city’s Convention, Visitors Authority, Chiefs, NFL, Apex Marketing Group, Front Office, College of, Super, Kansas, Allegiant Locations: Sin City, Las Vegas, Vegas, Nevada, Wells Fargo, Tokyo, Glendale , Arizona, Asia, Kansas City

Toni Irizarry recognizes that the economy has improved. Compared with the first wave of the pandemic, when Las Vegas went dark, and joblessness soared to levels not seen since the Great Depression, these are days of relative normalcy. Ms. Irizarry, 64, oversees a cafe at the Orleans Hotel and Casino, a property just off the Las Vegas Strip that caters mostly to locals. Guests have returned, filling the blackjack and roulette tables amid the cacophony of jingling slot machines — the sound of money. Her paychecks have allowed her to purchase a home, raise three children and buy each of them their first car.

Persons: Toni Irizarry, Irizarry Organizations: Las Vegas, Orleans, Vegas Locations: Casino

☆ From Ballet to Blackjack, a Dance Pioneer’s Amazing Odyssey
▼ + stars: | 2024-02-04 | by ( Siobhan Burke | ) www.nytimes.com time to read: +1 min

Pictured in a publicity shot for the original production of “George Balanchine’s The Nutcracker,” in the role known as Tea, was a young Asian dancer identified as George Li. For Lin, a veteran newspaper reporter turned documentarian, the picture raised intriguing questions. In 1954, when the photo was taken, it was rare to see dancers of color on the stage of New York City Ballet, the company Balanchine co-founded. Who was this young man, this breaker of racial barriers, this pioneer? And if so, what was he up to?

Persons: George Lee, he’s, Lee, Jennifer Lin, George Balanchine’s, George Li, Lin, Balanchine Organizations: Four Queens, New York Public Library, Performing Arts, New York City Ballet Locations: Las Vegas, Casino, New

☆ Highly successful people share this one skill, says billionaire CEO: 'I use it in everything that I do'
▼ + stars: | 2024-01-21 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Instead, they recognize and learn from patterns, a skill that highly successful people implement, according to billionaire Michael Rubin. Rubin is the CEO and founder of sports merchandise retailer Fanatics, a company that's helped him amass a reported net worth of $11.5 billion. "It's a really important skill in business, because I think it's predictive of the future," Rubin said. "If I like them, as soon as they leave, I go out and start calling people that I knew that we have in common to recognize patterns. Whether he's making business decisions or playing blackjack, Rubin said he relies on the skill to make good choices: "Pattern recognition is everything.

Persons: Michael Rubin, Rubin, that's, Jay Shetty's, " Rubin

☆ My father was old enough to be my grandfather, but his age is what made him a great dad
▼ + stars: | 2024-01-21 | by ( Beth Harpaz | ) www.businessinsider.com time to read: +4 min

My father was old enough to be my grandpa, but that's what made him a great dad. By the time I was born, he'd already lived through so many ups and downs that nothing ruffled him. Born in 1911, Dad was an eighth-grade dropout who'd lived through the Great Depression, fought in World War II, and worked in New York's Garment District. AdvertisementI wish he was around to spend time with my kidsBut here's what's awful about having an old dad: He died before his grandkids got to know him. He was 81 in a veterans' hospital hospital when my first child was born.

Persons: he'd, didn't, Dad, who'd, hadn't, Harpaz, Beth Harpaz, He'd Organizations: Service, Business, Garment, Army, 101st Airborne Division, Operation Market, Hitler Locations: New, Armentières, Charleston, Buzzy's, France, Belgium, Holland

☆ Ukraine's 'Blackjack' hackers breached 500 Russian military sites and caused chaos, says military intelligence
▼ + stars: | 2024-01-20 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Ukrainian hacking group "Blackjack" successfully targeted Russian military sites. Over 500 Russian military sites had their data breached, said Ukraine intelligence. Advertisement"Blackjack," a Ukrainian group of hackers with alleged ties to the country's main spy agency, stole construction plans for over 500 Russian military sites, Newsweek reports. Ukraine's military intelligence agency confirmed the successful operation, the Defence Intelligence of Ukraine (GUR), on Friday. The harvested data includes detailed maps of more than 500 Russian military bases across Russian and Russian-occupied Ukraine territories.

Persons: —, Blackjack, GUR, Vladimir Putin's, Suspilne, Sinéad Baker Organizations: intel, Russian Army, Service, Newsweek, Security Service of Ukraine, Defence Intelligence, Russia's Ministry of Defence, Security and Defense Forces of Ukraine, Euromaidan Press, Business Locations: Russian, Ukraine, Ukrainian, Moscow, Russia

☆ BetMGM's CEO describes his strategy to hold onto its No. 3 spot in US sports betting as Fanatics and ESPN Bet circle
▼ + stars: | 2023-11-27 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

BetMGM CEO Adam Greenblatt knows Fanatics and ESPN Bet are looking to eat his lunch. However, it has lost some ground, hovering around 15% market share in the third quarter compared to about 20% a year earlier. And a new crop of competitors including Fanatics and Penn Entertainment's ESPN Bet are vying for its position. "Everyone's kind of fighting for that third and fourth spot," Macquarie gambling analyst Chad Beynon told Business Insider in September. Online casino gaming, also known as igaming, is legal in only a handful of US states and has expanded slower than legal sports betting.

Persons: Adam Greenblatt, BetMGM, Penn, Macquarie, Chad Beynon, Greenblatt, We've, we're, Entain, we've, we'll, " Greenblatt, it's Organizations: ESPN Bet, Krejcik, MGM Resorts, Business, BI, MGM, Detroit Lions Locations: North America, Borgata's, Atlantic City, Michigan

☆ Diwali, the Festival of Lights, explained
▼ + stars: | 2023-11-11 | by ( Manav Tanneeru | Harmeet Kaur | ) edition.cnn.com time to read: +6 min

CNN —More than a billion Hindus, Sikhs, Jains and Buddhists around the world are celebrating Diwali, the festival of lights. Narinder Nanu/AFP/Getty Images• Choti Diwali, or Naraka Chaturdashi: The second day of Diwali marks Lord Krishna’s defeat of the demon king Narakasura. • Diwali, or Lakshmi Puja: The third day of the festival is what people typically think of as Diwali. For some Hindus, Diwali marks Rama and Sita’s triumphant return to their kingdom after 14 years of exile. For Jains, Diwali signifies the day Lord Mahavira, their last spiritual leader, attained physical death and achieved enlightenment.

Persons: It’s, Rafiq Maqbool, Lakshmi, Dhanvantari, Ayurveda, Narinder Nanu, Krishna’s, Narakasura, •, Krishna, Lord Indra’s, • Bhai Dooj, Lord Yama, tilak, Prince Rama, Vishnu, Sita, Ravana, Rama, Sita’s, Xavier Galiana, Lord Krishna’s, Bali, Bandi, Hargobind, Emperor Jahangir, Jahangir, Guru Hargobind, Mahavira, Emperor Ashoka, Manjunath Kiran, patti, Shiva, Parvati Organizations: CNN, Getty, Lord Locations: India, Nepal, Malaysia, Fiji, Homes, Mumbai, AFP, Vrindavan, Bangalore

☆ Sports betting, online casino boom fuels big DraftKings revenue gains as rivals vie for market share
▼ + stars: | 2023-11-03 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The growth of online sports betting and casino gaming across the U.S. has led to soaring revenue for sportsbook companies, but an already crowded race for consumers' dollars is about to get more competitive. Its success, which sent shares more than 16% higher Friday, came not only from sports betting, but also from online versions of casino games. Revenue is expected to grow yearly by 17.3% to reach a projected market volume of $14.4 billion by 2027. Meanwhile, despite being legal in just six states, revenue in the online gaming market is projected to reach $19.1 billion in 2023, according to Statista data. Revenue for online gaming is projected to grow 12.9% yearly and hit $31.1 billion by 2027.

Persons: It's Organizations: Caesars, MGM, Walt Disney Company, ESPN BET, Revenue Locations: U.S

☆ Don Laughlin, Who Turned a Patch of Desert Into a Casino Mecca, Dies at 92
▼ + stars: | 2023-11-01 | by ( Adam Nossiter | More About Adam Nossiter | ) www.nytimes.com time to read: +1 min

The principal of the one-room schoolhouse he attended for high school was not amused. “He said to get out of the gambling business or get out of high school,” Mr. Laughlin told The Review-Journal. By 1954 he had saved enough to buy a restaurant in North Las Vegas, the 101 Club. But Mr. Laughlin was restless. He learned to fly — it became his passion — and began scouting the state for an alternative to Las Vegas.

Persons: Donald Joseph Laughlin, Raymond, Olive, Donald, “, ” Mr, Laughlin, ‘, — Locations: Laughlin, Owatonna, Minn, Minneapolis, Las Vegas, United States, North Las Vegas, Vegas, Nevada, Arizona, California, Colorado

☆ Las Vegas casino stocks are flirting with a bear market. That might be a sign an economic downturn is coming.
▼ + stars: | 2023-10-08 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Casino stocks are slumping – and that could be bad news for the US economy. Top investor Jim Chanos has touted the Las Vegas strip as a potential economic indicator in the past. Casino stocks' losses have likely been driven by Wall Street taking a gloomier view on the economy, according to analysts. Las Vegas' next big test will be the third-quarter earnings season, with most casino operators expected to announce their results over the next month. AdvertisementAdvertisementDisappointing figures could be one of a growing number of signals suggesting that, like gambling stocks, the economy might be headed for the red.

Persons: Jim Chanos, —, – Organizations: Service, Publicly, Vegas Sands, MGM Resorts, Bellagio, MGM, Federal Reserve, Gaming, Wall, Vegas, US Consumer Locations: Vegas, Las Vegas

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