Gaming Scandals and Bankruptcies in 2015: Sports and Gambling’s Megastories of the Year

 Gaming Scandals and Bankruptcies in 2015: Sports and Gambling’s Megastories of the Year

Ah yes, gaming scandals and bankruptcies. Why must this be a category in gambling news by the end of each and every year?

Of most the video gaming scandals and bankruptcy news in 2015, arguably the biggest story of all was the arrest and indictment of 14 FIFA executives, but not President Sepp Blatter.

Because, unfortunately, bankruptcies and scandals are seemingly inevitable in a world that is high-stakes fortunes are won and lost in a matter of seconds.

2015 wasn’t immune to scandalous news, including a whopper involving widespread corruption at FIFA; a multi-million buck lawsuit against a star poker player who was accused of cheating; a longtime poker magazine shutting up shop; certainly one of golf’s most useful players accused of participation in an illegal gambling ring; and an alleged insider trading situation which could alter the landscape of daily fantasy sports forever.

But allow’s start towards the top.

FIFA Gets Kicked

Match-fixing in soccer during the walk out occurs on a regular basis. But so-called fixing of World Cups is an ball game that is entirely different.

Come early july, key officials within FIFA, professional soccer’s governing body, were rounded up by the Department of Justice (DoJ) and charged with widespread, systemic corruption. The charges included fraudulence, cash laundering, and bribery. All while FIFA’s President Sepp Blatter somehow avoided prosecution „Gaming Scandals and Bankruptcies in 2015: Sports and Gambling’s Megastories of the Year“ weiterlesen

Wynn Resorts Has Stock Rebound as Steve Wynn Purchases a Million Shares

Wynn Resorts Has Stock Rebound as Steve Wynn Purchases a Million Shares

Bullish on Wynn Resorts: Steve Wynn spends $63.9 million to buy a million shares and restores market faith in his business.

Wynn Resorts is having a week that is good.

Steve Wynn’s decision to buy up one million of his own organization’s shares appears to have restored market faith in his business, and a previously delayed opening for his latest Macau venture has been once again returned to its initial opening date.

The company’s stock, which has declined steadily in unison with Macau’s fortunes over the year, rallied in the wake of this news that the mogul had spent around $63.9 million to acquire 1,003,977 shares on the market that is open at $64.44 each.

It is a incredibly bullish move from Wynn, who, despite the slump in Macau, clearly has faith within the long-term profitability of Wynn Palace Macau, the $4.1 billion mega-resort currently under construction on the Cotai Strip.

The market responded accordingly, and share prices climbed, finishing up at $69.91 during the close of trading on Friday.

Placing His Money Where His Gambling Enterprises Are

The market always reacts well to bullish stock purchases, especially when they come from the top brass. Motley Fool said this week that, despite Macau’s tumbling fortunes, Wynn Resorts stays a proposition that is strong long-term investors.

‚ In this instance, maybe not only is Steve Wynn bullish on his company, he is putting his money where his mouth „Wynn Resorts Has Stock Rebound as Steve Wynn Purchases a Million Shares“ weiterlesen