Gambling Companies
Gambling Companies, Gambling Stocks
New Jersey Online Gambling Market Continues to Grow
Get the full run-down of the New Jersey online gambling industry since it first opened in November 2013.
So in case you’ve been living under a rock for the past year, online gambling has officially become legal in the state of New Jersey. Despite the struggling casino industry in Atlantic City, it seems that online betting in New Jersey has already taken off. Within just six weeks after the market opened back in November 2013, the online gambling industry generated $8.6 million.
Nevada Casino Revenue Down 4 Percent in August
State officials say Nevada gambling revenue was down nearly 4% in August compared with a year earlier, largely due to a drop in winnings on the Las Vegas Strip.
Nevada Gaming Control Board officials said Friday that casinos brought in $920 million in August, down from $955 million a year ago.
Revenue on the Las Vegas Strip was down 6% year-over-year to $553 million, while downtown revenue went up 4% to $35 million.
Reno gambling revenues were down 2% to $53 million.
The Last Thoroughbred Race Track in New England Shuts Down
BOSTON (Associated Press) — Massachusetts gambling regulators say they'll entertain proposals from anyone interested in keeping the thoroughbred racing industry alive at Suffolks Downs after New England's last remaining track closes.
The annual deadline for state racing licenses is still Oct.1, but the Massachusetts Gaming Commission said Thursday that it will accept "placeholder" plans that need more time to be developed.
The panel also said it will find ways to assist affected workers, including possibly re-directing money designated to boost race prizes.
Globe and Mail: David Baazov Positioned to Rule the Online Poker World
Few have heard of David Baazov, yet he’s about to become the head of the world’s largest online poker firms.
PokerStars Terminating Affiliate Agreements
If you are an affiliate of the world’s largest online poker site, PokerStars.com, it appears you won’t be for much longer. The company has begun terminating affiliate contracts. Whether this will affect everybody remains to be seen.
PokerStars was purchased by Amaya Gaming over the summer and it was widely rumored then that major changes would be on the horizon, some of which would adversely affect business relations.
Inside PokerStars – A Look at the Inner Workings of the World’s Largest Poker Site
PokerStars.com has introduced a new series entitled “Inside Poker Stars” where we actually get a glimpse of the inner workings of the world’s largest online poker site.
The site services a total of 63 million registered users, the vast majority of whom play for real money, though the site also offers a free-to-play platform.
The company has also dealt more than 110 billion hands since it first came online a day that will forever live in infamy – September 11, 2011.
How Can Gaming Companies use Marketing without Solid Footing in Business Acumen
The gaming field continues to grow and transform - With the insurgence of social media, companies are forced to become increasingly innovative and captivating with their messages to garner attention. Even though the market continues to evolve, there are still some tried and true tactics to utilize in order to succeed in the coming years.
Carl Icahn to the Rescue of the Taj Mahal, Betfair to Remain in NJ
Carl Icahn, who already has interests in one Atlantic City casino, is looking to possibly infuse money into the troubled Trump Taj Mahal, but only under certain conditions.
Everleaf Poker Network Owner Charged With Misappropriation of Player Funds
A Maltese court has charged the founders of the now shuttered Everleaf Poker Network with misappropriation of player funds. The company still owes an undisclosed amount of monies to players.
From PokerSites.com:
Leading Tech Entrepreneurs Name the Isle of Man the Digital Currency Capital of the World
Isle of Man, 22 September 2014 -- A sell-out crowd of over 150 entrepreneurs, enthusiasts, government and private sector representatives from around the world convened for the inaugural Crypto Valley Summit (CVS) on the Isle of Man from Wednesday 17th September through Thursday 18th September to discuss the future of digital currencies.
The LCB Network Acquires Wizard of Odds for $2.35 Million
It is definitely the purchase of all purchases for the LCB Network: the acquisition of WizardofOdds.com (WOO) &WizardofVegas.com (WOV) in a staggering deal worth $2.35 million.
BetButler.com License Revoked by UK: Site Unavailable
In yet another black eye for UK online gambling, BetButler.com has had its licensed revoked in that nation. As of Saturday morning, the site remained offline, though BetButler.com apparently went out of business last month.
Breaking News: Ultimate Gaming Exits NJ Market in Wake of Taj Mahal Bankruptcy
LAS VEGAS - Ultimate Gaming announced today that it has terminated its online gaming agreement with Trump Taj Mahal Associates LLC, which filed for Chapter 11 bankruptcy protection. The agreement was terminated due to multiple breaches by Trump Taj Mahal Associates. As a result of the termination, Ultimate Gaming will be withdrawing from the New Jersey online gaming market. Ultimate Gaming will continue to maintain its existing online poker operations in Nevada through UltimatePoker.com.
Biggest Rolls-Royce Order Ever Placed: Casino Owner Buys 14 Phantoms for $20 Mil
(Associated Press) - A Hong Kong tycoon has placed the biggest ever order for Rolls-Royce cars, agreeing to buy 30 Phantoms to chauffeur guests at a luxury resort he's building in the global gambling capital of Macau.
Stephen Hung's $20 million purchase surpasses the 14 Phantoms bought by Hong Kong's Peninsula Hotel in 2006. Hung and Rolls-Royce executives signed the deal Tuesday at the company's Goodwood factory in England.
Donald Trump: ‘Does Anyone Notice That Atlantic City Lost Its Magic When I Left?’
Donald Trump took to Twitter after one of the casinos in Atlantic City that bore his name closed on Tuesday.
Chicago Bulls Eye Fantasy Sports Sponsorship: FanDuel, DraftKings Frontrunners
With the National Basketball Association ending its restrictions on Fantasy Sports sponsorship deals last month, the Chicago Bulls expect to jump into the fray in a very big way.
G911 World Exclusive: Investigation Into Bwin.Party Stock Trades
An investigation into recent stock trades involving bwin.party, an online betting company, is being conducted, Gambling911.com can reveal in a world exclusive report!
A source tells Gambling911.com that the proper authorities are looking into recent, possibly-suspicious, large purchases of stock by directors of the company.
Wynn, Mohegan Sun Respond to Casino Regulators in Massachusetts
BOSTON (Associated Press) — Wynn Resorts appears to have a strong advantage over Mohegan Sun in the fierce competition for the Boston-area casino license, even as the Las Vegas gambling giant pushes back against some requirements state regulators are seeking to impose if it is to win the license.
3000 Taj Mahal Employees Given Notice They May Lose Jobs
ATLANTIC CITY, N.J. — (Associated Press) - The owner of the Trump Taj Mahal casino has sent notices to more than 3,100 employees warning it could be shut down in November.
Trump Entertainment Resorts told The Associated Press it filed the notices earlier this week, saying it could close Nov. 13.
The company filed for bankruptcy on Tuesday and threatened to close the Taj Majal if it doesn't get concessions from its unions.
Pinnacle Sports Exits UK Market, Others Force to Lay Off Staff, Close Betting Shops
The United Kingdom government is set to begin enforcing new regulations for online gambling, beginning with a hefty tax increase.
The pending changes and increased taxation will go into effect October 1 though a grace period for application processing is being allowed for those operators based out of Alderney and the Isle of Man.
Oscar Pistorius Found Not Guilty: Paddy Power Makes Payouts
Oscar Pistorius has been found Not Guilty of murdering his wife model Reeva Steenkamp in a case that has been widely covered by the gambling world following Irish bookmaker Paddy Power’s decision to take wagers on the outcome.
Massachusetts Won’t Make Decision on Boston Casino This Week
BOSTON (Associated Press) — State gambling regulators say they'll hold off making a decision on the lone Boston-area casino license this week.
The Massachusetts Gaming Commission on Wednesday said it will break off deliberations until Wynn Resorts and Mohegan Sun have a chance to respond, by Friday, to a series of conditions the panel is considering imposing on their proposals. The commission says it'll reconvene Monday with the hope of awarding the license by Wednesday.
Revel has $90 Million Offer to Buy Closed Casino
ATLANTIC CITY, N.J. — (Associated Press) - A Florida developer has offered $90 million for the Revel Casino Hotel that shut down last week, lawyers for the resort said Wednesday in court documents.
The casino said in the bankruptcy court filing that Glenn Straub's Polo North Country Club, Inc., made the cash bid for the $2.4 billion resort. The casino also wants a judge to set an auction for Sept. 24 if any higher bids are received by Sept. 23. A bankruptcy court judge would have to approve any sale.
New Jersey’s Monmouth Park Racetrack to Begin Taking Sports Bets on Sunday
Within hours after Gambling911.com first broke the news that New Jersey’s Attorney General, John Hoffman, issued a directive no longer enforcing the prohibition of sports betting in that state, one of New Jersey’s largest race tracks announced it intends to start taking sports wagers as early as this Sunday.
Breaking News: Trump Atlantic City Casinos File for Bankruptcy, Taj Could Close
ATLANTIC CITY, N.J. (Associated Press) — Trump Entertainment Resorts filed for bankruptcy Tuesday and threatened to shut down the Taj Mahal Casino Resort, which would make it the fifth Atlantic City casino to close this year.
Gambling Regulators to Select Casino for Lucrative Boston Area License
BOSTON — (Associated Press) - State gambling regulators are set to begin deliberations on awarding the lucrative Boston-area casino license on Monday, even as voters will decide in November whether to repeal the state's casino law, halting the process altogether.
The choices are down to Mohegan Sun's $1.3 billion resort plan for the Suffolk Downs horse racing track in Revere and Wynn Resort's $1.6 billion waterfront casino on the site of a former chemical plant in Everett.
More Trading Activity at Bwin.Party Raises Eyebrows
As first reported by Gambling911.com on Friday, at least one Director in publicly traded Bwin.Party bought shares immediately after earnings. Within a day of those shares purchases, the company started to buy back shares in the open market.
Helmut Kern, Non Executive Director, bought 60,000 shares in the company on the 3rd September 2014, just one day prior, at a price of 92.42p. The Director now holds 60,000 shares.
“On the surface, there should be red flags raised here,” a Gambling911.com source following the unusual trading activity suggested.
Jacksonville Firm Eyes Shuttered Show Boat Casino
ATLANTIC CITY, N.J. (Associated Press) - A Florida company that develops restaurant and entertainment complexes is interested in the former Showboat casino in Atlantic City.
Latitude 360, a Jacksonville company, said Friday the newly closed casino is one of three locations in Atlantic City it is considering for a $20 million project that would be paid for in conjunction with a financial partner. It would not involve gambling.
Company CEO Brent Brown said he has toured the former casino, which closed on Sunday, and has been in talks with its owner, Caesars Entertainment.
Atlantic City Scores Gets Over 1000 Job Applicants After Casino Closures
Four casinos have either shut down or are in the process of shutting down in Atlantic City but at least one local business has scored big from these sudden closures.
SCORES Atlantic City, the legendary gentleman’s club, has realized a 40% increase in job inquiries over the past two weeks.
Nearly any position you can think of has witnessed a jump in applications including security, hostesses, bartenders, barbacks, entertainers, and DJs.
Bwin.Party Trading Activity This Week has Some Scratching Their Heads
At least one Director in publicly traded Bwin.Party bought shares immediately after earnings. Amazingly, within a day of those shares purchases, the company started to buy back shares in the open market.
“It’s immoral and unethical for Directors and Management to ‘front run’ a corporate buyback in a matter of hours,” a source tells Gambling911.com.
A la Wikipedia, front running is a practice whereby a stockbroker executing orders on a security for its own account while taking advantage of advance knowledge of pending orders from its customers.
