Business & Financial

Wayne Root: Obama Insults Small Business Owners

2008 Libertarian Vice Presidential candidate and one time sports service consultant, Wayne Allyn Root, is a small business owner.

Submitted by Guest on, Mar/17/2009

MGM Casinos To Go Bankrupt?

Despite winning a two month reprieve to restructure debts, auditors raised 'substantial doubt' in whether MGM Mirage could continue operations.

Submitted by Payton on, Mar/17/2009

Online Gambling Empire of Gibraltar in Hot Seat Over Bernie Madoff

It's home to some of the biggest online gambling companies in the world, including PartyGaming.  Now Gibraltar is being reviewed for its apparent connection to swindler Bernie Madoff.

Submitted by Jagajeet Chiba on, Mar/17/2009

2009 March Madness Will Test Vegas Economy, Online Websites

While online sports betting seems to be up over last year, the Las Vegas economy has been hard hit.  Vegas like many event-oriented cities is counting on the 2009 March Madness to help give a much

Submitted by C Costigan on, Mar/14/2009

Switzerland and Other Tax Havens Under Intense Scrutiny

(Reuters) - Switzerland, Austria and Luxembourg all sought ways on Friday to fend off a global crackdown on tax evasion by making concessions on bank secrecy.

Submitted by Guest on, Mar/13/2009

James Packer Scraps Cannery Casino Resorts Crown Casino Deal

Australian billionaire James Packer has a $1.75 billion takeover of Cannery Casino Resorts LLC and sold his Australian cattle ranches to Guy Hands U.K. buyout company, Terra Firma Capital Partners Ltd.  Packer's Crown Casino enterprise, Australia's biggest, rose 13.5 percent on the news.  Had the deal gone through, Packer would have obtained three Nevada casinos and a racetrack near Pittsburgh.

The 41 year old Packer's fortune shrank to half this past year according to Forbes Magazine.  Crown lost 56 percent of its value and the Las Vegas casinos are not faring that much better.

Submitted by Alistair Prescott on, Mar/13/2009

2009 March Madness Office Pools For Fools

Unless you happen to be the secretary who knows nothing about college basketball, don't expect to win your 2009 March Madness office pool.  You know the drill, Janet chooses her brackets based on

Submitted by Don Shapiro on, Mar/12/2009

Gambling News: PartyGaming Bosses Screwed, Sportingbet Numbers In

An article appearing in the London Telegraph reports that, being a PartyGaming top dog doesn't exactly have its rewards...especially after you've been shown the door.  Party lost two of its chiefs

Submitted by C Costigan on, Mar/12/2009

Allen Stanford Booted Off Billionaire List

Allen Stanford, All Stanford, the Texan accused of an $8 billion fraud by U.S.

Submitted by Jagajeet Chiba on, Mar/11/2009

Las Vegas Economy: Total Train Wreck

The effects of a bad economy are hitting Las Vegas like a multi-pronged attack. As people find their disposable income dwindling, tourism and gambling are at an all time low in Sin City.

Submitted by Payton on, Mar/11/2009

Bookmaker Shares Up in United Kingdom

Director buying and hopes it will clean up at the Cheltenham Racing Festival this week helped bookie Ladbrokes canter 6p forward to 180½p, according to the Submitted by Jagajeet Chiba on, Mar/11/2009

Credit Card Fraud an Obvious Problem in Costa Rica

Bookmakers, employees...and yes, tourists....beware.  Credit card fraud is a very serious problem in the world's epicenter of online gambling.

Submitted by C Costigan on, Mar/10/2009

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

Breaking News

CNBC: No sex, No gambling as China Tightens Rules on Foreign Investment

CNBC: No sex, No gambling as China Tightens Rules on Foreign Investment

New rules from Beijing prohibit investments in core military technology and anything that endangers national security, according to a report filed by CNBC Monday.

Nobody Hits Powerball: Now at $650 Million

Nobody Hits Powerball: Now $650 Mil

Powerball officials say there was no grand prize winner in the latest drawing, meaning one of the nation's largest lottery jackpots will continue growing.

Doyle Brunson, Daniel Negreanu Go at it Over Confederate Statutes

Doyle Brunson, Daniel Negreanu Go at it Over Confederate Statutes

Negreanu: "The beliefs that Jews should be killed. Robert E. Lee believed blacks needed to be slaves. Both are vile and evil"