US Financial News

US Financial News and Odds on the US Economy

Las Vegas Has Further to Fall in Struggling Economy

A report in the Economist this past week suggests that the gambling mecca of Las Vegas may experience further decline due with a recession now in full swing.

Submitted by Jagajeet Chiba on, Jan/19/2009

State Lotteries Win Out During Recession

People want to make that fast buck during the current recession with nominal risk.  The result has been an increase in the number of state lottery tickets purchased.

More than half of all states with lotteries have reported rising sales over the past six months, and some researchers say financial insecurity might be driving people to risk more of their money than usual on $1 and $5 instant scratch-offs and other daily games in hopes of a big payoff.

Submitted by Jagajeet Chiba on, Jan/14/2009

Detroit Casino Shares Up Slightly

There may be a dark cloud over Detroit's pivotal auto industry but a dim light shined over its casino industry with news Tuesday that the big three casinos revenues rose slightly. 

The Michigan Gaming Control reported a rise of 1.84 percent with MGM Grand Detroit finishing the year with $578 million in revenue, MotorCity Casino ending with $464 million in revenue and Greektown Casino finishing up with $316 million. 

 

Submitted by Jagajeet Chiba on, Jan/13/2009

Is Bodog Finally Starting to Get its Act Together?

Two month long payout delays, IRS threats about confiscating funds and a retired founder, Calvin Ayre, without a country - all things that have become synonymous with Bodog in recent times.  The o

Submitted by C Costigan on, Jan/12/2009

Taiwan to Allow Casinos on its Outer Islands

Asia has a new casino Mecca.  Taiwan this weekend paved the way for casino gambling after repealing a gambling ban over 15 years ago.

Submitted by Jagajeet Chiba on, Jan/12/2009

Las Vegas Sands Corp a Strong Buy

The economy is struggling and Las Vegas we learn is not immune, nor is the Las Vegas Sands Corp, one of the world's largest casino ventures.  But with its recent capital infusion and prospects for

Submitted by Jagajeet Chiba on, Jan/12/2009

UBS Closes All Offshore Accounts of U.S. Clients

ZURICH (Reuters) - Swiss wealth manager UBS AG (UBSN.VX) (UBS.N) is closing all the offshore accounts of its U.S. clients, the bank said on Friday, as it comes under pressure from U.S.

Submitted by Guest on, Jan/09/2009

The Anurag Dikshit Stimulus Package

In 2009 the United States government will be receiving a stimulus package from the most unlikely of individuals.  PartyGaming co-founder and billionaire, Anurag Dikshit, has agreed to forfeit more

Submitted by Payton on, Jan/08/2009

States Likely to Begin Legalizing Sports Betting in 2009

With the economy in dire straits and individual states feeling the worst of it, the likelihood of at least one or more states legalizing sports betting is more a reality than ever in 2009.

Submitted by C Costigan on, Jan/08/2009

Porn and Other Sin Industries Want Government Bailouts

Sex sells especially in an economic downturn, Sarah Estrella of the Examiner writes

Submitted by Payton on, Jan/08/2009

FBI Jobs Aplenty: Thousands of Job Openings

If you can't beat ‘em, why not join ‘em?  The FBI recently posted some 3000 job openings this week, the most since 9/11.

Submitted by Jagajeet Chiba on, Jan/06/2009

Gamblers Go Heavy On Dow Closing Much Higher Following Citi Group News

Gamblers at online prediction market intrade.com were betting heavily that the Dow would close more than 25 points higher than Friday's close following news th

Submitted by Jagajeet Chiba on, Nov/24/2008

Casino Gambling in Atlanta? Not So Fast

With the US economy in a tailspin, what better time to bring casinos to Atlanta than now?

Submitted by Jagajeet Chiba on, Nov/24/2008

Downey Bank Finally Goes Down For The Count: Who’s Next?

So far the online prediction markets have been fairly accurate in their offering related to the next bank closure. 

Submitted by Jagajeet Chiba on, Nov/23/2008

Las Vegas Sands Plunges on Default, Bankruptcy Risk

Nov. 6 (Bloomberg) -- Las Vegas Sands Corp., billionaire Sheldon Adelson's casino company, plunged in New York trading after saying it may default on debt and face bankruptcy.

The casino owner, which had $8.8 billion in long-term debt at the end of June, said in a regulatory filing today that it probably won't meet the requirements of some loans unless it cuts spending on development projects, boosts earnings at its Las Vegas Strip casinos and raises more capital.

Submitted by Guest on, Nov/06/2008

Ron Paul On The Economy And Why The Bailout Was Bad Idea

Gambling911.com Senior Correspondent, Jenny Woo, had a chance to sit down with Republican Congressman, Ron Paul, to discuss his efforts in trying to legalize online gambling.  But Dr.

Submitted by Jenny Woo on, Nov/03/2008

The Bet That Blew Up Wall Street

(CBS) The world's financial system teetered on the edge again last week, and anyone with more than a passing interest in their shrinking 401(k) knows it's because of a global credit crisis.

Submitted by Guest on, Oct/27/2008

World Poker Tour In Danger of Being De-Listed from NASDAQ

With the market taking a daily beating due to the global economy roller coaster and the pending US Presidential Election, things are not looking good for the beleaguered stock.

Submitted by Guest on, Oct/20/2008

Financial Gamblers Torn Between DOW Close on Thursday

Slightly more than half of those betting at the online financial prediction market, intrade.com say the DOW will close lower than it did on Wednesday.

Submitted by Jagajeet Chiba on, Oct/16/2008

Don’t Forget to Pay Your Taxes!

October 13 was a national holiday in the United States. Banks and schools were closed. The significance of October 13? Columbus Day.

Submitted by Jagajeet Chiba on, Oct/14/2008

Wall Street Out of Coma: Main Street Paralyzed?

Despite Monday morning's slight return of confidence in the financial markets Intrade's Prediction Markets indicate the damage has been done and the U.S. economy is heading towards recession.

Intrade's prediction markets for macroeconomic indicators are currently showing the U.S. is likely to enter a recession before the end of 2009. The only question is when? And could there actually be a depression?

Submitted by Guest on, Oct/14/2008

Prediction Market Gamblers Believe DOW Will Close Lower on Friday

With the Asian markets crashing early on, gamblers at www.intrade.com have been betting at a 60 percent clip or better that the DOW will close down by 2

Submitted by Jagajeet Chiba on, Oct/09/2008

Sheriff Thomas J. Dart Deserves a Medal: Obama Has Chance to Make Difference

Sheriff Thomas J.

Submitted by Payton on, Oct/09/2008

Prediction Market Says Dow to Closer Higher Than on Tuesday

Can things get much worse on Wall Street? Let's hope not.

Submitted by Jagajeet Chiba on, Oct/08/2008

All Eyes on National City Bank Among Prediction Market Bettors

With Wachovia now sold to Citibank and then to Wells Fargo and maybe again to Citibank last week in the never ending drama centering around US banking turmoil, attention is now shifting to the next

Submitted by Jagajeet Chiba on, Oct/06/2008

At least the Wooden Arrow “Bailout” Was Bi-Partisan

The final Bailout plan to save Wall Street - and perhaps the nation - included a substantial amount of fat.

Submitted by Jagajeet Chiba on, Oct/03/2008

Prediction Market Gamblers Lose on Wachovia Bet

In the end, over 75 percent of the betting action was going Wachovia's way to fail by December 31, 2008 at online prediction market intrade.com.

Submitted by Jagajeet Chiba on, Sep/29/2008

Wachovia Bank Under Watchful Eye of Prediction Markets

Wachovia Bank suitors are reportedly waiting for a US Government seizure so that they can buy up the best assets and let the government sort out the rest, Submitted by Jagajeet Chiba on, Sep/27/2008

Washington Mutual Finally Fails: Prediction Markets Right

It took a while but the bank atop online prediction market intrade.com most likely to fail, Washington Mutual, finally did.

Submitted by Jagajeet Chiba on, Sep/26/2008

Vice Shares Like Gambling Help to Stimulate the Economy

The portfolio of "unethical" shares which we picked on this week last year has unsurprisingly lost value in the past 12 months, but has beaten the general market, as well as the FTSE For

Submitted by C Costigan on, Sep/25/2008

Breaking News

Family Renews Appeal to Find Missing Poker Player

Family Renews Appeal to Find Missing Poker Player

The family of missing Icelandic poker player Jon Jonsson continue their efforts to help locate the poker player who vanished in Dublin Ireland February 9.

Mobster Hit Suspect Shows Symbol Linked to Conspiracy Theory

Mobster Hit Suspect Shows Symbol Linked to Conspiracy Theory

The man charged with killing the reputed boss of the Gambino crime family had a symbol on his hand that some say is associated with a conspiracy theory.

NY Can Start Taking Sports Bets in May

NY Can Start Taking Sports Bets in May

Upstate New York casinos authorized to offer sports gambling could be accepting wagers by Memorial Day weekend.