John Kostrzewa: Private-equity firms see easy money in casinos
Seven of the 10 biggest buyouts this year have been engineered by private-equity firms — the entities that use debt and investors’ money to take over public companies.
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Gambling history facts:
- Legal gambling operations in Washington reported $1.7 billion in net receipts in 2005: 61 percent was reported by tribal casinos, 10 percent came from the state lottery. 2 percent of responders in a February state survey said they placed bets online.
- 1994: On New Year's Day Frank Sinatra gives his last Las Vegas performance at the MGM Grand.
1998: Opening of the Bellagio. With 3,026 rooms it is the largest hotel in the world, and also the most expensive - it cost $1.7 billion to build. - Although baccara has its origins in medieval Italy, it soon spread to France, where it was called "chemin de fer" (meaning railway, due to the action of the card box or shoe passing around the table on "tracks").
- In 1973, the Commission on the Review of National Policy toward Gambling was created to study gambling in the United States.
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