Business & Financial

March Madness Contests Will Prove Major Draw During Recession

One of the biggest betting periods of the year is about to get underway with the start of 2009 March Madness.  For many of the online gambling sites, the lure will be March Madness contests, many

Submitted by C Costigan on, Mar/10/2009

Gambling News: Federal Probe Into Alabama Attorney General’s Office

Reports surfaced on Monday that federal prosecutors were investigating Alabama Attorney General, Troy King, along with his possible connections to gambling.

King apparently has threatened to shut down some electronic bingo operations while allowing others to stay in business.  He claims to oppose gambling but believes that "some electronic gambling machines are allowed under constitutional amendments that authorized the bingo operations."

Submitted by C Costigan on, Mar/09/2009

Credit Default Swaps Were The Worst Form of Gambling From Wall Street

In an interesting piece appearing in Market Oracle, that site pretty much makes it clear that Wall Street was gambling when it came to those so-called Credit Default Swaps:

Submitted by C Costigan on, Mar/09/2009

Gambling News: Barney Frank Goes All In, AGA Goes All Out

Congressman and Chairman of the Financial Services Committee, Barney Frank, is determined to lift a ban on Internet gambling.  That was the top gambling news stor

Submitted by C Costigan on, Mar/09/2009

Unemployment Rate To Go Above 9 Percent This Year Say Gamblers

The online prediction markets are saying that unemployment in the United States could go above a staggering 9 percent by year's end. 

Submitted by Jagajeet Chiba on, Mar/08/2009

My Thoughts on Casino Mogul James Packer

Media Man, Greg Tingle, has provided Gambling911.com with a few thoughts related to Australian casino maestro James Packer.   Mr.

Submitted by Guest on, Mar/07/2009

France Caves Into EU Pressure: Will Legalize Online Gambling

France, which has long been against legalized online gambling, has finally conceded to European Union pressures.  The country announced Friday it's plans to open the marketplace for external onlin

Submitted by C Costigan on, Mar/06/2009

Playtech Moves Further Into Cryptologic’s Territory: Makes Marvel Deal

The announcement this week that Playtech had signed a licensing agreement with Marvel Entertainment Inc. was perhaps as big a surprise as the powerful online casino software firm snatching competitor Cryptologic's biggest client, William Hill, right out from under their noses.  The new deal allows Playtech to use Marvel film properties such as The Incredible Hulk and the Fantastic Four in its branded games inventory.  Prior to this week, Cryptologic had the exclusive rights to the Marvel enterprise as so far as gaming goes. 

Submitted by C Costigan on, Mar/06/2009

Ron Paul to Appear on CNN D.L. Hughley Breaks The News

Everybody's favorite 2008 Republican Presidential candidate, Ron Paul, will be appearing this Saturday night on CNN's D.L.

Submitted by C Costigan on, Mar/05/2009

Barney Frank Wants Prosecutions, More..

Congressman Barney Frank, who would like the Unlawful Internet Gaming Enforcement Act overturned as part of his extensive effort to stabilize the banking sector, outlined his agenda for the month o

Submitted by C Costigan on, Mar/05/2009

Las Vegas Casinos to Be Nationalized?

With Las Vegas casinos drowning in a sea of debt, it may only be a matter of months before they are all bank owned.

Submitted by Payton on, Mar/05/2009

Former Billabong CEO Matthew Perrin Racked Up $1.7 Mil Gambling Debts

Billabong Chief Executive, Matthew Perrin, has left a trail of $28.2 million in unpaid bills to 20 unsecured creditors, according to a bankruptcy filing this week.

The lawyer-turned Web entrepreneur reported racked up over $1.7 million in gambling debts according to The Sydney Morning Herald.   His debts include those to Centrebet boss, Con Kafataris ($300,000) and a Flemington bookie, Frank Hudson ($160,000). 

Perrin has been in financial distress before, according to the Herald.  Ultimately he paid back his debts.

Submitted by Jagajeet Chiba on, Mar/05/2009

Online Gambling, Sports Betting: Economy Having Little Effect

Gambling911.com spent a few days in the epicenter of online gambling this past week, Costa Rica.  There we visited five different offices and met with a few other industry folks as well.  The wor

Submitted by C Costigan on, Mar/05/2009

Centrebet Loses Out on International All Sports Deal

Australian privately owned wagering shop Sportsbet has taken a 12.3 percent stake in International All Sports, thus effectively knocking out Centrebet International Ltd.

Submitted by Jagajeet Chiba on, Mar/03/2009

Paddy Power Profits Predicted to Plunge

The luck of the Irish may be running out. 

Overnight, Gambling911.com had reported on the economic hardships facing Ireland in addition to one of the country's few bright spots - Paddy Power.  Ireland's largest bookmaker is one of the few groups expected to deliver a yield of 5.1 per cent in 2009, according to Goodbody projections. 

Monday came word that the bookmaking super power could be about to fall on some hard times itself.

Submitted by Jagajeet Chiba on, Mar/02/2009

BetCRIS Boss Dire(rhea) Advice to Belagio Hotel: I Hope You Go To S***!

The Las Vegas economy is hurting.  We all know this.  But one online gambling exec had this piece of advice to offer up:

"The Bellagio can go to s***!" BetCRIS boss, Mickey Richardson, lashed out when discussing the state of the economy with Gambling911.com this weekend.  He can care less that the famed Las Vegas property has had to slash its rates in order to compete with other strip hotels.  "If that's a five star hotel, the rating system is seriously skewed."

Submitted by C Costigan on, Mar/02/2009

Ireland Bookmakers May Struggle in Midst of Potential Collapse

Much talk has focused on the Republic of Ireland being the most likely to abandon the Euro.  Ireland has taken quite a hit in recent months.  Could the country become the next Iceland?

Submitted by Jagajeet Chiba on, Mar/01/2009

Sands Casino Enacts Own Stimulus Package

Despite the Las Vegas Sands (LVS) stock closing at a sputtering $2.28 a share on Friday, the company has blazed ahead in the face of financial adversity with a stimulus package of it's own: job cre

Submitted by Payton on, Mar/01/2009

Marvel Comics a Bright Spot for Scarred Cryptologic

Having been embroiled in a public feud with former CEO and 10 percent shareholder, Javaid Azid, the publicly traded online gambling software firm, Cryptologic, can seek some solace in knowing that

Submitted by Jagajeet Chiba on, Feb/27/2009

Legalized Sports Betting Would Mean $30.6 Billion for US Economy

There is much talk this week about legalizing online gambling and in particular sports betting, which would account for a $30.6 billion figure as part of a PriceWaterHouseCoopers 2007 industry fore

Submitted by C Costigan on, Feb/26/2009

Cake Poker Could Soon Dominate With Aggressive Approach

The Cake Poker Network is just reeling them in of late.   Its partnering with major online sportsbetting enterprises could help make Cake one of the top 5 online poker networks by years end.

Submitted by C Costigan on, Feb/25/2009

Cryptologic Dispute Now a Public Affair: Concern to Shareholders

Former Cryptologic CEO, Javaid Aziz, who ran the publicly traded online software company business from April 2007 to February 2008, has been trying to establish a foothold in an effort to gain cont

Submitted by C Costigan on, Feb/25/2009

The Grasshopper in Amsterdam Does Not Want Americans

 

Each year, hundreds of chirpy online gambling professionals descend upon Amsterdam to participate in the Casino Affiliate Convention.  Gambling911.com of course recognizes that few if anyone will remember anything that was discussed at the conference itself.  The event is more of a networking function where friends can gather and do things they might not normally do at home such as smoke canibus and have sex with women on display behind red lit windows. 

Submitted by C Costigan on, Feb/24/2009

Oscar Betting a Hit: Ratings Up

The 2009 Oscars provided quite a betting revenue boost for online gambling websites.  The event is traditionally the 3rd most wagered on of the year and that probably won't change in 20

Submitted by C Costigan on, Feb/23/2009

MGM Mirage, Bally’s, Wynn, Harrah’s Lose Out During Tough Times

Las Vegas is hurting during these rough economic times.  Hotels on the strip have drastically slashed room rates in an effort to compete.

Submitted by Jagajeet Chiba on, Feb/23/2009

Las Vegas Art Museum Victim of Economic Recession

When one thinks of Las Vegas, usually the last thing that comes to mind is art.  But Sin City does have museums...or...let's rephrase that...DID HAVE MUSEUMS.

The Las Vegas Art Museum, Southern Nevada's first fine-arts museum and one of the city's cultural mainstays since 1950, has become the latest victim of a disastrous economy, according to Ken Miller of the Las Vegas Weekly.

The Museum will close the end of this week.

Submitted by Jagajeet Chiba on, Feb/22/2009

California Legislators Would Speak to 888.com About Online Poker

Sources close to Gambling911.com have reported that legislators in California are so intent on legalizing online poker in that troubled state they are looking to attend an upcoming i-Gaming confere

Submitted by C Costigan on, Feb/21/2009

Jon Kyl Agrees With Barney Frank Regarding Bank Nationalization

Republican Senator Jon Kyl and Democratic House Financial Services Committee Chairman Barney Frank remain on opposite sides of the spectrum when it comes to legalizing online gambling.  Kyl calls

Submitted by Jagajeet Chiba on, Feb/20/2009

Vantis Will be Receivers for Stanford International Bank

The same receivers placed in charge to manage the liquidation of online gambling firm, BetonSports, will now oversee the Stanford International Bank crisis in Antigua. 

Submitted by Jagajeet Chiba on, Feb/20/2009

Federal Judge Orders Forfeiture of $10 Mil From Bodog

A U.S.

Submitted by C Costigan on, Feb/19/2009

Breaking News

‘Gamble-ing Man’: Nathan Gamble Wins $15K Pot Limit Omaha Hi-Lo

‘Gamble-ing Man’: Nathan Gamble Wins $15K Pot Limit Omaha Hi-Lo

Nathan Gamble defeated the 830-player field of the $15K Pot Limit Ohaha Hi-Lo event to win his first ever WSOP bracelet and $223,339 Sunday night. 

Odds That 17 Crown Casino Employees Go to Prison at 99 Percent

Odds That 17 Crown Casino Employees Go to Prison at 99 Percent

Among those charged are three Australians, including Melbourne-based executive Jason O'Connor

England’s Chris Brammer Wins First WSOP Bracelet

England’s Chris Brammer Wins First WSOP Bracelet

Chris Brammer of England has won the Event #45 of the 2017 World Series of Poker, $5,000 No-Limit Hold'em.  He takes home $527,555, besting a field of 505.