CNBC – Las Vegas is easily America’s city that is most synonymous with recreational risk-taking. Atlantic City, especially for those on the East Coast, has also long been known as a place to take a chance on blackjack or drop coins in a slot machine. But in truth, the United States is dotted with gambling havens from coast to coast. With tax rates up to 40 percent, these businesses can generate hundreds of millions in state revenues. We decided to look at the states with the most revenue from commercial gambling in 2012. Some of the 13 states that made…

The Australian – Sri Lanka has refused to allow casinos at three super-luxury resorts planned in the capital after opponents said they would lead to prostitution, an official says. It was not immediately known whether the casino ban would endanger the development of the three mega-resorts in Colombo, which have attracted investment worth $US1.3 billion ($1.4bn) from tycoons including Australian gambling mogul James Packer, who runs plush casinos in Melbourne, Perth, Macau and London. Developers, including Packer, wanted casinos to be part of all three luxury resorts, but the government rejected the plans, Economic Development Minister Basil Rajapakse said on…

Penn National Gaming, which owns M Resort, is again looking at the Strip for possible expansion opportunities. During a conference call Thursday with analysts to discuss the casino operator’s first quarter earnings, Penn National CEO Tim Wilmott was asked about reports that Australian casino company Crown International was interested in buying the Cosmopolitan of Las Vegas for $2 billion. Wilmott said he thought the figure “sounded high.” If Penn were to get into the bidding for the Strip resort, which owner Deutsche Bank reportedly wants to sell, it would probably be with a partner. Wilmott added that Penn is “not…

Las Vegas Review Journal – Like much of Nevada, the casino industry is grappling with issues surrounding medical marijuana. So much so that gaming companies and regulators have had little to say publicly about doctor-prescribed pot. Medical marijuana has been legal in Nevada since 2000, but it took state lawmakers 14 years to allow dispensaries to operate. Now, with a state law in place calling for up to 66 potential medical marijuana outlets throughout Nevada, the issue is finding its way into gaming headquarters. No one has suggested Nevada casinos offer medical marijuana dispensaries as part of their retail amenities….

Card Player – Deutsche Bank is in talks with potential buyers of the Cosmopolitan on the Las Vegas Strip, Bloomberg reported this week. The bank has owned the property for a handful of years. Germany’s largest bank could be looking for more than $2 billion for the casino, hotel and resort, and has attracted at least four possible bidders, the report said. The property’s actual value could be around $1.5 billion. According to the report, the complex “cost more than $3.9 billion to build and has never turned a profit…The Cosmopolitan reported 2013 earnings—before interest, taxes, depreciation and amortization—of $103…

St Louis Post Dispatch – An Illinois House committee is planning a daylong hearing on gambling expansion in the state. The Executive Committee will meet at 9 a.m. Wednesday at the Bilandic Building in downtown Chicago. The morning session will focus on a plan by Rep. Bob Rita to create a large casino in Chicago, but none elsewhere. The session beginning at 1 p.m. will focus on Rita’s alternative to build a smaller Chicago gambling house and four scaled-back casinos in Winnebago, Vermilion and Lake counties, and in a south suburb of Chicago. The Blue Island Democrat has proposed alternative…