Las Vegas Sands Q1 profit falls on casino opening expenses
LAS VEGAS (AP) - Las Vegas Sands Corp., the casino company run by billionaire Sheldon Adelson, said Wednesday that its net profit for the first quarter fell 25 percent from a year ago and expenses increased due to planned openings in Macau, Singapore and the United States.
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Casino gambling information:
- It was during the 1930's that slot machines began to become very popular across America, and in the late 40's Bugsy Siegel added machines to his Flamingo Hilton hotel in Las Vegas.
- In Cuba, during the 1950's, the blackjack shoe was first introduced. The dealers in Cuba handled the cards really well and management thought that the dealers may be being a little too good to their friends. So, to curb their suspicions, management decided to use a "dealing box" which is currently known as a shoe.
- Video Poker machines were introduced in the 1970s, when an oil embargo had a negative impact on Vegas revenues. The machines were popular enough to spark a recovery in casino business.
- The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
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