Debt Issues Remain the Big Story for Casino Stocks

Casino companies showed mixed performance Friday as they continued to navigate debt problems.

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Fri, March 27th, 2009

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Casino gambling information:

  • Massachusetts decriminalized bingo in 1931 in an attempt to help churches and charitable organizations raise money. Bingo was legal in 11 states by the 1950s, usually only for charity purposes.
  • Many casinos in Nevada were financed by mobsters. Most notable perhaps was Las Vegas' Flamingo which was opened in 1947 by Bugsy Siegel.
  • Although the Greeks had a profound understanding of mathematics they had no concept of probability, and assumed that the outcome of games of chance was due to the will of the gods.
  • The name blackjack came from an early bet (since discontinued) that paid 10 to 1 if the player got a jack of spades and an ace of spades, both black cards, as the first two cards.