Word: casino
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...victims of his alleged conspiracy alone. As part of the deal, he agreed to hand over more than $1.7 million in unpaid taxes to the IRS. On Wednesday, he's expected to plead guilty to fraud and conspiracy in a related case, involving his purchase of the SunCruz casino boat line...
...that Abramoff arranged for DeLay that included a golf outing at Scotland's famed St. Andrews course. But over the past decade, Abramoff and Scanlon spread money and favors across Capitol Hill. The list of lawmakers who weighed in on the partners' side on one project--blocking the planned casino of a tribal client's rival--totaled at least 33, and together the 33 received $830,000 in contributions from Abramoff clients, according to a recent Associated Press study. One of those lawmakers was Senate Democratic leader Harry Reid, who received more than $66,000 in donations from Abramoff clients...
...task? Can an insider, who rose within GM, have the nerve to take the ruthless measures necessary to fix his ailing company? So far, GM's board is standing by its chairman's relatively cautious strategy. The same may not be said of Kirk Kerkorian, the casino mogul and billionaire who owns nearly 10% of GM shares. He has lost an estimated $390 million on his stake and has indicated he may seek board representation. Kerkorian tried to take over Chrysler, and while he isn't expected to try that with GM, he's likely to lobby for Wagoner...
...meal is being shared by PartyGaming and a fast-growing number of competitors. They have names such as 888.com Betandwin.com and Empire Online, and are mainly based in exotic, low-tax jurisdictions such as Gibraltar, Malta or Canada's Kahnawakee Mohawk Indian reservation. Says Richard Segal, an experienced British casino executive who joined PartyGaming as CEO last year and sold more than $15 million worth of stock in the June IPO: "It's like bees around the honeypot...
...average daily "rake"--its cut of the amount bet--rose a third, to more than $2 million. Despite a summer stock swoon, market players are still betting that online poker isn't a short-term fad. One thing hasn't changed: you won't find Bhargava in a casino, online or real, anytime soon. "I can see myself playing poker off-line, but I can't find low-limit games," complains the centimillionaire. "Online is very different: that's entertainment." Besides, he's already won that game...