NEW YORK, July 12 (Reuters) – Internet payment provider PayPal Inc. said it received a subpoena from the New York state attorney general’s office related to its activities in the Internet gambling market, the Wall Street Journal reported on Friday.
The company said the attorney general’s office had asked for information about online gambling payments that occur through the company’s network, and it would co-operate.
PayPal on Monday accepted a $1.5 billion buyout offer from eBay (nasdaq: EBAY – news – people), which supplies more than 60 percent of PayPal’s clients.
At the time of the announcement eBay Inc. said it would cease the business PayPal does with Internet gambling firms when the online auctioneer completes its proposed acquisition.
EBay said it decided to close the gambling business, which accounts for 8% of payments on the PayPal network, because of uncertainty surrounding regulation of that market.
Sands abandons ‘loosest slots’ title, marketing
ATLANTIC CITY – Sands’ 20-month reign as king of the city’s loosest slot machines is over.
The casino that all last year made “loosest slots” a cornerstone of its marketing program now has average payouts to gamblers. All of its slot machines together returned 91.92 percent of the money wagered in June, matching the citywide average, according to Casino Control Commission statistics released Friday.
Resorts topped the chart with a 92.16 percent payout, barely ahead of Trump Marina and Tropicana.
“It’s not a goal of ours to have the loosest slots, although we want to be among the loosest,” Resorts President Audrey Oswell said. “From month to month it can fluctuate depending on the mix of business and games on the floor.”
Two factors have caused Sands’ lower payout percentage: A tightening of its existing nickel, …