Gambling Companies
Gambling Companies, Gambling Stocks
Macau Casinos Suffer for Third Straight Month
Shares of Macau-centric casinos such as Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) fell on reports of weaker-than-expected Macau gambling revenue for Aug.
Sterne Agee slashed earnings estimates on both casino companies as well as on MGM Resorts Int'l (NYSE:MGM) and Melco Crown Entertainment (NASDAQ:MPEL).
Sands shares fell 5.1% to 63.10. Wynn fell 4.1% to 185.05. MGM fell 2.6% to 23.83.
Source: Investors.com
Revel Starts Shutdown Monday After Just 2 Years
ATLANTIC CITY, N.J. (Associated Press) — The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
Its casino will close early Tuesday morning.
Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. But mired in its second bankruptcy in two years, Revel has been unable to find anyone willing to buy the property and keep it open as a casino. It has never turned a profit.
Behind the Scenes of the Showboat Casino Closure and How it Will be Done
ATLANTIC CITY, N.J. (Associated Press) -- When a casino shuts down, making an announcement over the loudspeaker and herding gamblers off the casino floor is only the beginning. Here's a look at what takes place behind the scenes:
-- Secure the money and the chips. Casino security, supervised by inspectors from the state Division of Gaming Enforcement and backed by state police, immediately secure the money and gambling chips from each table game and slot machine. Supervisors and dealers count the chips, total up the money and have it wheeled away to the cash counting rooms.
Paddy Power Profits Plummet Unfavorable Sports Results Contribute
DUBLIN, Ireland (Reuters) - Paddy Power's operating profit fell sharply in the first half of the year after a run of unfavourable sports results, but the Irish gambling company said a second-half rebound should deliver full-year earnings growth.
Paddy Power, which has more than doubled its annual profits since 2009 on an overseas expansion and a strong performance online, leads the industry in smartphone and tablet betting.
888 CEO Brian Mattingley to Step Down
(Reuters) - 888 Holdings Chief Executive Brian Mattingley will step down from the day-to-day running of the online gambling company next year and become chairman in a management restructuring, 888 said on Wednesday.
888, which offers casino, poker and bingo games, will promote its Chief Operating Officer Itai Frieberger to a seat on the board in January and he will run the business with Chief Financial Officer Aviad Kobrine when the changes take effect.
Horseshoe Casino in Baltimore Opens Tuesday Night
BALTIMORE — (Associated Press) - The Horseshoe Casino Baltimore is scheduled to open, marking a new milestone in Maryland’s development of casino gambling.
Deutsche Bank Downgrades Macau
Deutsche Bank has downgraded a number of key casinos in the Macau gambling sector as a response to slowing demand and perhaps fears of Chinese government intrusion. Earlier in the week, Gambling911.com reported on how the Chinese government has begun to crack down heavily on gambling and other so-called “vice” activities.
Revel Not Dead Yet: Still Seeks Sale While Losing $1 Mil a Week
CAMDEN, N.J. – (Associated Press) - The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said.
Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.
“Our earnest hope is that we will have a successful auction,” Cunningham said. “But it takes two to tango. … It may be [that] some of the dust has to settle from the shutdown.”
Real Money Online Poker in California to Launch Next Week
Forget that another year has come and gone without passage of online poker legislation in the state of California. Don’t tell that to the Santa Ysabel Gaming Commission, which plans to turn its free-to-play online poker site into one where customers can play for real money some time between August 26 and 28.
Revel Casino Wanted to Close Today (June 18)
ATLANTIC CITY (Associated Press) — If the owners of Revel Casino Hotel had their way, the $2.4 billion resort would have been shut down on Monday.
Revel Entertainment had asked New Jersey casino regulators for permission to close down on Aug. 18. But the state Division of Gaming Enforcement denied the request, eventually prevailing upon Revel to remain open until Labor Day weekend.
Revel’s hotel will close at 11 a.m. Sept. 1, and the casino will shut down at 5 a.m. the next morning.
What is a Good Site to Bet Football Online? BetPhoenix.com
Gambling911.com would like to welcome BetPhoenix.com into the fold as one of the premiere places to bet football online in 2014.
EPT100: Estrellas Breaks PokerStars Record: €50K Kicks Off Monday
Estrellas Barcelona Main Event is the Largest Unique Field in PokerStars History
Amaya Gaming Releases 2nd Q Financial Results on Heels of PokerStars Acquisition
Amaya Gaming on Friday released their 2nd quarter results following the company’s acquisition of the world’s largest real money online poker company, PokerStars.com.
SECOND QUARTER AND SUBSEQUENT HIGHLIGHTS
Bookmaker Hopes to Dominate Live In-Play Betting for 2014 Football Season
Gambling911.com recently visited the Bookmaker.eu offices and its expansive state-of-the-art live in-play betting department (pictured), which may very well put even the European sportsbooks to shame.
Bet365.com Samuel L. Jackson Promos Under Scrutiny
Popular British-based online bookmaker Bet365 has come under fire down under with its promos that feature Hollywood actor Samuel L. Jackson. The company is accused by the Australian Competition and Consumer Commission (ACCC) of failing to properly disclose terms associated with offers of free bets and deposit bonuses.
Revel Casino Still Looking for Bidders
Atlantic City, N.J. (Associated Press) - A day after announcing it will shut down next month, Revel Casino Hotel told a bankruptcy court judge it is still negotiating with potential buyers.
In a notice adjourning an auction of Revel that had been set for Thursday, its lawyers say they are engaged in "ongoing negotiations" with "certain potential bidders" they did not identify. The filing follows Revel’s announcement that will shut down by Sept. 10, having been unable to find a buyer.
What Are The Safest Most Reliable Pay Per Heads?
Not all Pay Per Heads are created equal and that means safety must be adhered to at all times when considering a PPH shop.
Pay Per Head reviews offered up by Gambling911.com are a terrific start to researching where one should manage his or her players.
Atlantic City’s Revel Casino to Close in September
ATLANTIC CITY – (Associated Press) - Atlantic City's newest casino is shutting its doors just over two years after opening amid high hopes of turning around the crumbling seaside resort's gambling market.
Revel Casino Hotel will shut down next month after failing to find a buyer in bankruptcy court, company officials announced Tuesday.
The company said the $2.4 billion casino will close its doors on Sept. 10. It has never turned a profit.
The closure will mean the loss of more than 3,100 jobs.
Caesars Posts Bigger Than Expected Second Quarter Loss
LAS VEGAS (Associated Press) - Caesars Entertainment Corp on Monday reported a wider loss in its second quarter.
The Las Vegas-based company posted a loss of $466.4 million, or $3.24 per share, compared with a loss of $212.2 million, or $1.69 per share, in the same quarter a year earlier.
Losses, adjusted for costs related to mergers and acquisitions and asset impairment costs, came to $2.31 per share.
Gamblers Sue Foxwoods for Over $3 Million Over Unpaid Winnings
NEW HAVEN, Connecticut — (Associated Press) - Three gamblers have filed a lawsuit against Foxwoods Resort Casino alleging the eastern Connecticut casino failed to pay them more than $1.1 million that they won in a table game in 2011 and didn't give them back a $1.6 million deposit they put down to cover any losses.
The Day of New London reports that the gamblers filed the lawsuit in federal court in New Haven July 31, seeking $3 million in damages. The plaintiffs are Chinese nationals Cheung Yin Sun of Las Vegas and Long Mei Fang and Zong Yang Li of Los Angeles.
Revel Casino Bankruptcy Hearing Postponed Until Next Week
ATLANTIC CITY – (Associated Press) - The bankruptcy auction of the troubled Revel casino hotel, which had been scheduled for Thursday, has been postponed until next week.
Lawyers for the casino said in a court filing Wednesday night that they had received multiple bids for the casino by Monday's deadline and needed additional time to review them.
The auction was rescheduled for 9 a.m. next Thursday.
Atlantic City Mayor Don Guardian said last month that there were six potential buyers for the casino, but none of the potential bids have been outlined.
Las Vegas Sands Shares Fall Fast Wednesday on Macau Worries
Las Vegas Sands entered “oversold” territory Wednesday, according to Forbes.
Seminole Hard Rock Joins Forces With PokerStars
The Seminole Hard Rock Casino in Hollywood, Florida has partnered with the largest online poker room PokerStars for its Seminole Hard Rock Poker Open Championship (SHRPOC) series.
PokerStars players now have the opportunity to buy into the SHRPOC Main Event via their online account.
The Hard Rock event runs from August 14 thru September 3 and features a $10 million guaranteed event and a $100,000 Super High Roller event.
The entire Seminole Hard Rock Poker Open Championship 2014 schedule appears below.
Trump Sues to Get Name Off of Atlantic City Casinos Including Taj Mahal
ATLANTIC CITY – (Associated Press) - Donald Trump is suing an Atlantic City, New Jersey, casino company, trying to force it to drop his name from its two gambling halls.
Trump tells The Associated Press he wants his name stripped from the Trump Plaza and the Trump Taj Mahal because their owner, Trump Entertainment Resorts, has failed to maintain them properly.
Trump says in a lawsuit filed Tuesday the poor condition of the casinos is hurting his personal brand.
Trump Entertainment Resorts has declined to comment.
SBOBet.com Center of Paul Phua World Cup Betting Probe: Not Guilty Pleas Entered
Poker pro Paul Phua and his son Darren appeared in a federal court on Tuesday to answer to charges they ran an illegal gambling business out of the $25k a night Caesars Palace villas via the popular Asian handicapping betting site SBOBet.com. Phua and six others are set to be arraigned on August 7. The father-son-tandem may be deported back to their native Malaysia. Both men pleaded not guilty on Tuesday.
Bally Technologies One of the Darlings of the NYSE Friday: Share Price Skyrockets
Bally Technologies Inc. was up $17.53 to $77.70 Friday and was one of the biggest movers on the New York Stock Exchange.
The gambling equipment maker is being bought by rival Scientific Games Corp. in a deal worth $5.1 billion, including debt.
Bally shareholders will get $83.30 a share, representing a 38% premium to the stock's closing price on Thursday.
Based in Las Vegas, Bally Technologies makes slot machines, video lottery systems, table games and other products.
Amaya Gaming Completes Acquisition of PokerStars
MONTREAL - Amaya Gaming Group Inc. (TSX: AYA) ("Amaya" or the "Corporation") announced today the completion of its previously announced acquisition of 100% of the issued and outstanding shares of privately held Oldford Group Limited ("Oldford Group"), the parent company of Isle of Man-headquartered Rational Group Ltd.
Borgata Posts Quarterly Loss for Online Poker in New Jersey
The Borgata Hotel and Casino in Atlantic City, partnered with bwin.party, has posted a quarterly operating loss of $1.8 million for the period of June 30.
It did, however, reach a “key milestone” by breaking even during the month of July.
The Borgata and bwin.party were widely seen as having gotten off to the strongest start in the newly opened New Jersey online gambling market through aggressive ad campaigns. Ongoing payment processing issues, particularly with a high credit card decline rate, have stymied growth since that time.
Paddy Power Suffers Massive Data Breach: More Than 649,000 Customers Compromised
More than 649,000 customers of the UK’s third largest bookmaker, Paddy Power, have had their personal information stolen, it was revealed on Thursday. Of those, approximately 120,000 are based in Ireland.
No customers who signed up after 2010 are impacted by the breach.
Numis: William Hill, Paddy Power Should Merge
Broker Numis on Monday suggested that two of the UK’s biggest bookmakers should merge in an effort to offset negative regulatory changes.
“This would create a much more attractive investment than either alone,” Numis said.
“Taking the best from each company would result in a business with outstanding technology and marketing. Plus, we really like Will Power as a name for the company.”
