90-year-old Woman rejected $41.7 Million Jackpot from ‘Malfunctioning’ Slot

90-year-old Woman rejected $41.7 Million Jackpot from ‘Malfunctioning’ Slot

90-year-old grandmother Pauline Mckee will have in order to make do with $1.85, instead of the $41.7 million jackpot she thought she had won on a video slot in Illinois.

The Iowa Supreme Court has ruled that a neighborhood casino does not need certainly to pay a $41.7 million jackpot to one of its customers adhering to a slot machine malfunction.

Instead, 90-year-old grandmother Pauline Mckee, of Antioch, will have to be pleased with the $1.85 payout that the equipment might have awarded had it been functioning properly.

McKee was playing the skip Kitty penny slot machine during the Isle Casino Hotel in Waterloo, where she was a guest during a 2011 family reunion, when she believed she’d hit the big one.

Because the reels came to rest, the words ‘$41,797,550 bonus honor’ flashed up on the display screen.

But the casino refused to cover up, pointing out that the equipment had a maximum payout of simply $10,000.

Instead, she ended up being paid the $1.85 she had actually won through the spin, and the $18.10 in credit remaining regarding the machine, while the device itself was sent away for independent technical analysis.

Tests unveiled that the equipment’s computer had erroneously determined it had a bonus award.

Malfunction Voids All Pays

McKee sued for breach of contract and consumer fraud, a filing that ended up being dismissed in 2013 by a district court judge. This week the Supreme Court uph Continue reading “90-year-old Woman rejected $41.7 Million Jackpot from ‘Malfunctioning’ Slot”

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts Dividends Slashed Following Macau Slump

Wynn Resorts share dividends took a nosedive this week because of poor results in Macau gambling.

Wynn Resorts Ltd is moving on the pain of the drop that is sharp Macau gambling to its shareholders by cutting dividends by 67 percent, Bloomberg reports.

The gambling chain, which owns and runs the Wynn Macau casino resort, posted its earnings for the quarter that is first of this week, and also the news isn’t pretty if you should be an investor.

Revenue was hovering just under $1.1 billion, a reduced figure than industry estimates of $1.12 billion.

Being a total result, dividends from shares spiraled downwards to 50 cents per share. That is clearly a third of this $1.50 settled in February.

Wynn Resorts Ltd also posted a $17.1 billion dining table games turnover in the VIP sector, a fall of over 52 % compared to the exact same quarter last 12 months. Table games turnover in the mass market sector was also down, by 7% to $279.6 million.

Following the dividends results were announced, Wynn shares dropped 9 percent to close at $130.48.

Macau Clampdowns Affecting Everyone

The crackdown that is continuing corruption in China is having a huge impact on the Macau economy. Chinese President Xi Jinping is on a crusade the past year or so to stop thousands of public officials taking off to your Macau peninsula with public funds.

The amount of money allowed to be brought from the mainland to Macau, China’s sole arbiter of legalized gam Continue reading “Wynn Resorts Dividends Slashed Following Macau Slump”