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The bitter, longstanding feud between Station Casinos and the Culinary Union in Las Vegas took another turn this month, this time to Washington, DC and the US Supreme Court.
On 4 September, Chief Justice John Roberts denied Station’s emergency request for a stay of a federal appeals court decision that ordered the company’s Red Rock Casino Resort Spa in Summerlin to comply with a National Labor Relations Board mandate and bargain in good faith with the union following a failed labour vote in late 2019. Roberts gave no explanation for the denial.
The NLRB ruled after the election that Red Rock took steps to prevent a fair union vote, and Red Rock sued in response, although the ruling was upheld by the US Court of Appeals for the District of Columbia last month. After the court denied a rehearing request on 6 August, it also subsequently denied Station’s request for a stay pending SCOTUS relief on 24 August.
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Separately, the two senators wrote a formal letter to a bevy of pro sport leagues last October requesting additional details on the leagues’ interaction with integrity monitors on suspicious wagering.
Despite Tuesday’s memo, it is not immediately clear if any professional sports league commissioners are willing to testify before Congress on some of the most problematic aspects of sports betting.
Matt is primarily responsible for long-form feature coverage on complex sports betting scandals. He also provides coverage on finance, M&A and other technological developments.
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In his 2022 letter to shareholders, he criticized mobile trading apps that make day trading and speculative positioning effortless, accusing them of turning the stock market into a “gambling parlor.”
Two years later, Buffett again targeted the “gamblification” of financial markets in his annual shareholder letter.
“Markets now exhibit far more casino-like behavior than they did when I was young. The casino now resides in many homes and daily tempts the occupants,” Buffett wrote, noting that extreme volatility makes identifying sound, long-term investments vastly more difficult.