Business & Economy
Associated Press/Photo by Chris Pizzello (file)

NBA cuts deal to share data with casino giant MGM Resorts

by Les Sillars
Posted 8/01/18, 12:11 pm

The NBA and WNBA will now share official data with MGM Resorts International, officials announced Tuesday, becoming the first major U.S. professional sports leagues to cut a deal with a casino. The agreement positions the leagues to cash in on the anticipated growth of sports betting across the country, but also crosses the decades-old line between pro sports and the gambling industry.

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Associated Press/Photo by Wayne Parry

Legalized sports betting gears up for NFL season

by Les Sillars
Posted 7/30/18, 10:55 am

Two Atlantic City, N.J., casinos owned by Caesars Entertainment will start taking sports bets this week, while another two Ceasars operations in Mississippi will do so in mid-August, just in time for the start of the NFL season. Following the U.S. Supreme Court’s decision in May to permit states to legalize sports betting, dozens of gambling companies have applied for licenses to operate in New Jersey, hoping to get in on the multibillion-dollar opportunity.

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Associated Press/Photo by Richard Drew (file)

Facebook shares lose $119 billion in value

by Les Sillars
Posted 7/27/18, 10:55 am

After Facebook founder Mark Zuckerberg’s admission that the company’s second-quarter growth was slower than expected, its shares plummeted 19 percent on Thursday. That vaporized $119 billion of value in one of the biggest single-day losses in stock market history. The decline roughly equals the value of McDonald’s or Nike. Zuckerberg’s shares alone lost about $16 billion.

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