The world’s largest casino company is cautioning investors that online bets might hurt, rather than help, its brick-and-mortar casinos. Caesars Entertainment, which owns four of Atlantic City’s 12 casinos, wrote in a filing with securities regulators late Wednesday that online gambling could reduce patron visits to its casinos in New Jersey and Nevada, and harm the company’s bottom line. In a report to the U.S. Securities and Exchange Commission, Caesars wrote that Internet gambling will compete with the company’s business in Nevada, where online poker is offered, and New Jersey, where all casino games are now available online. “Caesars will,…

Bloomberg – Japanese lawmakers from the ruling Liberal Democratic Party submitted a bill to legalize casinos to parliament, bringing the nation closer to opening up what is estimated to be the world’s second-largest gaming market. The bill was jointly submitted with the Japan Restoration Party and other groups, Hiroyuki Hosoda, the chairman of a cross-party group of pro-casino lawmakers, said yesterday. LDP’s junior coalition partner New Komeito has approved the submission, LDP’s policy chief Sanae Takaichi said. The parties aim to pass the bill in the next Diet session that begins January, said Hosoda, who is also an executive acting…

Reuters – A $400 million Sri Lankan resort and casino complex planned by Australia’s Crown Ltd faces additional delays and is unlikely to be approved before the end of the year, a top government official said on Tuesday. The new delay comes after opposition politicians alleged Crown’s chief, gambling tycoon James Packer, was getting concessions not given to local entrepreneurs. Buddhist leaders also said the casino could be detrimental to the culture of Sri Lanka, a predominant Buddhist country where gambling is not accepted morally, despite the on-again, off-again presence of casinos dating back to the 1990s. The government said…

Reuters – Gambling revenue in the southern Chinese territory of Macau jumped 21.3 percent on year in November after events including an international boxing match and annual Grand Prix motor race led to an increase in visitors. Revenue reached 30.18 billion patacas ($3.78 billion), the fourth highest this year, showed government data released on Monday. Analysts had forecast a median growth of 20 percent. Macau is China’s only legal gambling hub with 35 casinos and 8 in the works, operated by companies such as Sands China Ltd , Melco Crown Entertainment Ltd, Galaxy Entertainment Group Ltd, MGM China Holdings Ltd…

Detroit News – The future of a small northern Michigan casino took center stage Monday before the U.S. Supreme Court in a case that tests the limits of Native American sovereignty. Michigan Solicitor General John Bursch argued before the justices that the Bay Mills Indian Community, a tribe based in the Upper Peninsula, opened an illegal casino in northern Michigan and that the gaming facility should remain shuttered. The lawyer for the tribe, Neal Katyal, told the High Court that although the casino was opened off the tribe’s reservation, it should be considered Indian land and therefore immune from Michigan’s…

Mirror.co.uk – Skint James Petherick has told how he blew £250,000 in 10 years on slot machines ­branded the “crack ­cocaine of ­gambling”. Welder James, 37, spoke about the devastating impact of fixed odds ­betting ­terminals on which ­you can gamble up to £100 in 20 seconds. He was driven to the brink of ­suicide by a crippling ­addiction to the casino-style machines that are found in bookies and are now the target of a Sunday People campaign. He said: “I’d stop on the way home, go into a bookies and pour all my wages into these machines. “I’ve worked…