This Week in Gambling

Democratic Party candidate Andy Beshear, who pledged to legalize commercial casinos, sports betting and Kentucky online gambling if elected, has won Kentucky’s gubernatorial election. He won in the state’s main population centers, claiming Jefferson County, which includes Louisville, by almost 100,000 votes, as well as Fayette County, including the city of Lexington, by more than 35,000 votes. In September, Beshear detailed a policy under which tax revenue raised through gambling expansion would be fund a pension system for public servants such as teachers, police officers and firefighters. Beshear’s plan also requires casinos to provide financial support for treatment facilities, while…

Stop the presses and start making plans! Colorado legalizes sports betting! Voters have narrowly passed the measure that makes Colorado the 19th state to regulate sports betting, with the tax revenues earmarked for water conservation. This allows the parent companies of Colorado’s 33 casinos in Black Hawk, Central City and Cripple Creek to offer onsite and online betting on professional, collegiate, motor and Olympic sports starting in May. The ballot question had little opposition, but the election results were so close that the outcome could only be determined Wednesday as the final votes were tallied. Legal sports wagering has grown…

The long wait and guessing game is over! Pennsylvania online poker is finally here! PokerStars is officially up and running with the cooperation of the Mount Airy Casino! Plus, PartyPoker and 888 are not far behind! We also have a new gambling interview to share, plus news on Colorado sports betting. Hello players! What a time to be alive! We’ve got sports betting news from Colorado, and online poker news from Pennsylvania! And that, my friends, is this week’s big story! After years of guessing and months of waiting, PokerStars officially became the first internet poker site to go live…

Residents decide today whether to legalize Colorado sports betting and use the tax revenue to help conserve the state’s most precious resource: water. The proposal has bipartisan support from lawmakers and interest groups and only token opposition, Local 12 reports. Most states have since generated limited tax revenue from gambling on sporting events. Colorado’s proposal would dedicate a similarly limited revenue stream to a state water conservation plan launched under former Governor John Hickenlooper. In an era of climate change and frequent drought, the plan envisions a decades-long effort to meet the needs of the Denver metropolitan area, the state’s…

The state House of Representatives has passed legislation that would regulate Michigan sports betting, online gaming and fantasy sports. This move comes even as legislators have not reached an agreement with the Governor, who continues to express concerns that the activities could cut revenue from the state lottery. The main measures in the 10-bill package passed on 63-45 and 62-44 votes, with many Republicans and some Democrats in support. The legislation, which also would regulate the fast-growing paid fantasy sports industry, was sent to the Republican-led Senate for future consideration. An 8.75 percent tax would be collected on Michigan sports…

MGM Resorts plans to announce that they have a buyer for their MGM Grand casino property in Las Vegas. That announcement is expected to come by the end of this year. In a conference call Wednesday, MGM CEO Jim Murren said the company plans to use the proceeds from the MGM Grand sale to reduce debt and invest in new growth opportunities, including a potential $10 billion casino in Japan and sports betting in the U.S. This marks one of the final steps toward the MGM’s goal of becoming an “asset-light” casino operator. The company agreed this month to sell…