October 23, 2018

New Jersey Investigators Waste Three Years On Gambling Probe

MGM is hoping to partner with Stanley Ho’s daughter Pansy in what will become a $1.25 billion casino in the new gambling capital of the world, Macau. MGM is waiting on New Jersey investigators to sign off on the deal.

The investigators do not appear like they are in any rush to give MGM the go ahead. The investigation into whether Pansy is independent of Stanley has been ongoing for three years. That’s three years of work by investigators just to try and connect father and daughter.

Some criminal investigations do not go on for three years. While MGM waits, investigators continue to pry into anything they can get their hands on regarding the Ho’s. So far, Pansy has passed the test.

“Pansy’s track record as an independent businesswoman is impeccable and impressive. We expect a positive outcome whenever the (division) is ready to give it,” said MGM spokesman Alan Feldman. Having already withstood three years, MGM has shown great patience in dealing with the probe.

The MGM group is waiting for the ruling because they are licensed in the state of New Jersey. They are currently running one casino in the state and have another on the way in Atlantic City.

Speculation exists that MGM only announced their plans for another Atlantic City casino to put pressure on the regulators to rule in favor of the project with Ho. With Atlantic City struggling, MGM holds some powerful cards in helping turn around the state of casinos in the city.

New Mexico Lottery Sales Up Almost Six Million Thanks To Jackpots

At a time when most lotteries are trying to come up with any and all innovative ways to try and sell tickets, New Mexico did it the old fashioned way. They built up jackpots and then relied on people’s dreams to carry their sales.

The state lottery announced that their sales were up nearly $6 million from last year. That figure was driven mostly because there were some big jackpots that rolled over through the course of the year.

“Without those run-ups, our sales and profit situation would have been completely different,” said New Mexico Lottery CEO, Tom Romero. Powerball was one of those jackpots that rolled several times.

The state sold $44.5 million in the past year. That figure is up from the $42.6 million from the year before. Powerball had several jackpots that reached almost to $100 million, and more that went over that figure.

Net ticket sales from the previous year were actually down. They had $148 in net sales last year compared to $147.1 this year. Scratch off tickets broke records for the amount of sales they produced this year.

The state also held a New Year’s Eve Raffle that generated $1 million in sales. The rest of the difference in the years was contributed to the amount of payouts from winning tickets.

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