Shares of Penn National Rise on Vote
Shares of casino and racetrack operator Penn National Gaming Inc. soared 9 percent Wednesday when Pennsylvania gambling regulators voted to allow slot-machine distributors to operate statewide.
Related Gambling News:
- A Second Look: Penn National Gaming
- GlobeSt.com UPDATE: Penn National Files Application for $262M ‘Racino’
- Maine tribes, Penn National avoid casino debate
- Harrah’s, Penn Up on Pa. Slot Licenses
- Penn National OKs $200M Buyback
- Penn National Gaming Names Ameet Patel General Manager of Argosy Casino Riverside
- News in brief from central Pennsylvania
- Penn National opens slots parlor
- Penn National to Amend Credit Facility
- Grantville Race Course Slots Approved
- Melco shares ‘may rise 50% in few years’
- Penn National Gaming considers Maryland site
Gambling history facts:
- In 1911, the state of California ruled that "draw" poker was a skill, and thus could not be banned under existing anti-gambling laws. However, "Stud" poker was still considered illegal at the time.
- Up to the 1960s, Nevada was plagued by teamster financing, hidden ownership, employment of individuals of questionable character and background, and the clear links to organized crime.
- If you have even seen a Baccarat player bend the cards and make a fold in them, don't be surprised. This is common because once the decks in the card shoe are finished in Baccarat, they are usually thrown away. In Baccarat, do not bet on a tie hand.
- Las Vegas is a testament of the powerful ability of gambling to foster economic development. Because of gambling, Las Vegas has shown impressive job growth, developed into a major city with a low tax burden that many state and local governments look at with envy.
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