Gambling Companies
Gambling Companies, Gambling Stocks
888.com Reviewing Luis Suarez Sponsorship Deal Following Bite Incident
Online gambling firm 888.com is said to be reviewing its sponsorship deal with disgraced footballer Luis Suarez. The payer is accused of biting Italy’s Giorgio Chiellini during a Group stage elimination game that saw Uruguay advance.
On Thursday FIFA ruled that Suarez will undergo a nine-game ban from international play, which includes any remaining games at this year’s World Cup.
Bwin.Party on Verge of Breaking Up?
The party might be over for Bwin.Party. Rumors surfaced this week that the world’s largest publicly traded online gambling firm is on the verge of breaking up.
The company on Thursday denied it was breaking up or looking for a selling but said it was examining ways to increase shareholder value.
Harrah’s Fined for Underage Drinking in AC
(Associated Press) - Two Atlantic City casinos have been fined a total of $66,000, with the bulk of the fines levied against Harrah's Resort Atlantic City for letting underage patrons gamble and drink.
Harrah's was fined $60,000 by the New Jersey Division of Gaming Enforcement for five incidents involving patrons ranging in age from 18 to 20. The minimum age for gambling and drinking in New Jersey is 21.
In one instance, Harrah's let a 20-year-old from New York play blackjack even after a security guard checked his ID.
Verdict Upheld Against ‘Girls Gone Wild’ Founder in Wynn Slander Suit
LOS ANGELES (Associated Press) — An appellate court on Monday upheld a $19 million judgment against "Girls Gone Wild" founder Joe Francis in a slander case filed over his claims that casino mogul Steve Wynn had threatened to kill him.
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The California 2nd District Court of Appeal in Los Angeles found no basis to overturn the judgment or order a new trial, and the justices also left in place an injunction barring Francis from repeating the claims.
California Tribes Worry PokerStars Might ‘Cut Their Throats’
With Gambling firm Amaya announcing the purchase of the world’s largest online poker room, PokerStars, earlier this month, the firm hopes to enter the California Web gambling market. Not so fast.
Resorts International Inks Deal With Sportech: Could Join Forces With PokerStars
ATLANTIC CITY — (Associated Press) - An Atlantic City casino that was thwarted in its efforts to join the Internet gambling market is preparing to get in the game.
Resorts Casino Hotel announced partnerships late Friday with European firms Sportech and NYX Gaming to offer Internet gambling.
They will join PokerStars and Full Tilt Poker to form an online betting option that could rival New Jersey’s market leaders, Borgata and Caesars Interactive.
NJ's Bankrupt Revel Casino Gets Cash Lifeline to Hunt for Buyer
CAMDEN, N.J., (Reuters) - Atlantic City's bankrupt Revel Casino Hotel has received court approval to borrow $23.9 million that it said would keep the 1,400-room resort operating for the coming month as it scrambles to find a buyer.
Revel filed for Chapter 11 bankruptcy Thursday afternoon and rushed to court early on Friday for a slew of court orders it said were vital to pay its 3,140 employees, soothe nervous vendors and honor programs that provide gamblers with key perks.
PokerStars Commits Its Future to the Isle of Man in Wake of Amaya Takeover
The Department of Economic Development has welcomed the announcement that PokerStars has committed its future to the Isle of Man following its planned takeover by Amaya Gaming Group Inc.
General Counsel to the Rational Group of Companies Paul Telford wrote an open letter to the Chief Minister reiterating the company’s commitment to the Isle of Man.
Leonard Singer MHK, the Department Member with responsibility for e-Business said:
Pay Per Head Companies and Performance Reports
One of the biggest keys to running any type of business is to know the numbers inside and out. Just as a sports handicapper breaks down a particular matchup to uncover an edge in the betting lines for the game, as a bookmaker you need to constantly break down your business’s numbers to turn a profit on a regular basis.
Esquire: How Sex, Drugs and Gambling Can Help Boost a Nation’s Economy
Esquire Magazine’s digital edition featured an article Wednesday on how sex, drugs and gambling can actually help a nation’s economy.
They offer up a few strong examples.
When we think of sex and drugs and tourism, Amsterdam is typically the first thing that flashes in our minds.
Pennsylvania Introduces Online Gambling Bill in Senate: PokerStars Exclusion
Pennsylvania lawmakers on Wednesday introduced Bill 1386 in the Senate. The bill, drafted by State Sen. Edwin Erickson, would legalize online gambling in the Keystone State.
A newer version of the legislation co-sponsored by Republican Bob Mensch allows for an expanded number of casino games whereas Erickson’s bill focused almost exclusively on poker. Mensch also wants to charge a $5 million licensing fee along with a 14% tax on gross gaming revenues.
PokerStars Buyer Will Begin Talks With New Jersey Casino Regulators to Enter Market
ATLANTIC CITY, N.J. (Associated Press) - A Canadian company buying the PokerStars website will begin licensing talks with New Jersey casino regulators aimed at letting the world's largest Internet poker site operate legally in the state, the state's top casino regulator said.
Dreyfus: Online Poker is Coming to California
In his blog this week, Alexandre Dreyfus of the Global Poker Index writes that California dreaming is about to become a reality with Amaya’s acquisition of PokerStars last week and the ability for the world’s largest online poker room to now re-enter the California market.
A number of the powerful state tribes have offered up resistance when in comes to allowing PokerStars to re-enter the US market. They claim an unfair playing field since Stars operated in the States long after federal prohibition had passed.
Adelson Under Fire: Underage Gamblers, $1 Mil Contribution to PA Politicians
Gambling911.com’s own Thomas Somach is on the case and tells us that in Pennsylvania, casino magnate and GOP mega donor Sheldon Adelson is under fire for questionable political donations as well as another fine being levied against his property for allowing underage gamblers....total fines $305,000!!!!
PokerStars, Asia Pacific Poker Tour Debuts Beijing Millions
PokerStars and the Asia Pacific Poker Tour will host the inaugural Beijing Millions, scheduled for July 18th to 27th. It is the first foray into the Chinese Mainland market for both PokerStars and the APT.
While rare, a sanctioned poker tournament is not unprecedented in China.
In 2012 and 2013, the World Poker Tour did hold a US$1,500 event in Sanya, on the Chinese island of Hainan.
GTECH in Talks to Buy IGT
MILAN (Reuters) - Italian lottery operator GTECH is in preliminary talks to buy Las Vegas-based International Game Technology (IGT) in a cash and shares deal that would make it a significant player in the casino slot machine business.
GTECH said on Monday it had hired advisers to help it negotiate a deal, confirming what sources told Reuters last week. It gave no value for the potential bid.
Bitcoin Community Fears 51 Percent GHash Control: Others Say It’s Armageddon
On Friday for a period of nearly 12 hours, mining pool GHash had surpassed the 51% controlling share mark in the anonymous digital currency bitcoin and that has many watchers worried….perhaps with good reason.
Back in January GHash had 42% control and even then there were concerns mounting.
Amaya Would Become Largest Online Gambling Company, Pave Way for California
With word that publicly traded Amaya Gaming Group has agreed to the $4.9 billion purchase of PokerStars.com, the company will become the world’s largest online gambling business. It will also potentially help to usher in legalized online poker for the state of California.
Amaya Agrees to Acquire PokerStars, Full Tilt Poker for $4.9 Billion
MONTREAL, CANADA & ONCHAN, ISLE OF MAN –Amaya Gaming Group Inc. (TSX: AYA) (“Amaya” or the “Corporation”) and privately held Oldford Group Limited (“Oldford Group”), the parent company of Rational Group Ltd.
Can Casinos Save Detroit?
Detroit's shaky foundation of recovery may be backed by placing bets behind its local casinos. A trial to approve Detroit's plan to exit its $18 billion bankruptcy, the largest municipal crash in U.S. history, begins in late July. Revenue projections needed to stave off bankruptcy may be too ambitious. Even though Detroit gambling taxes are a stable source of money, casino revenue has declined recently in Detroit in the face of competition with traditional gambling hubs like Nevada and New Jersey as well as relative newcomers to the wagering scene.
Dubai Businessman Iraj Parvizi Sues Les Ambassadeurs Casino for Allowing Collusion
A Dubai-based businessman, Iraj Parvizi is suing London’s Les Ambassadeurs Casino for failing to prevent collusion and cheating in its establishment.
And the amount he is suing for?
£10,000,000.
The 48-year-old was a regular in weekly high stakes cash games held at the casino until he lost £185,000 in one session and refused to pay back for the chips he received on credit.
New Jersey Clarifies Online Gambling Affiliate Arrangements
The New Jersey Division of Gaming Enforcement has expressed the importance of affiliate relations to the growth of its state-run online gambling industry. On Tuesday, it sought to clarify the types of relationships and activity said affiliates can and cannot engage in.
IGT Seeking Sale: Shares Hit Five-Year Record High
News that International Game Technology (IGT) is potentially seeking a buyer resulted in shares reaching a five-year high on Monday. Morgan Stanley has been brought on to assess a sale of the slot maker’s business.
The shares rose 14 percent to $14.31 at the close in New York Monday, the biggest one-day gain since April 3, 2009. The stock had fallen 31 percent this year through June 6.
James Henderson Expected to Replace Outgoing William Hill CEO Ralph Topping
Online bookmaker William Hill is set to replace outgoing CEO Ralph Topping with the company’s current Director of Operations James Henderson, according to media reports that circulated over the weekend.
The firm downplayed rumors Monday morning, however, telling EGR Magazine they have yet to make a definitive decision.
Replacing Topping has been a priority for William Hill since announcing his retirement earlier in the year. He has been CEO of the UK’s biggest bookmaker since 2008.
BetFred.com Pulls Out of Germany, Canada, Most Other Markets Ahead of World Cup
Not the best timing as the FIFA World Cup is set to begin this week but BetFred.com customers from variously countries across the globe were advised this weekend they can no longer bet online with the company.
PokerStars Wants All-in With California Online Poker: Responds to Tribes
As Gambling911.com reported Tuesday, California’s 13 tribes have reached an agreement to allow real money online poker in the state after five years of standoff. But it seems the closer some groups come together, the further others end up apart.
Dreyfus Announces American Poker Awards to be Held in LA
Global Poker Index (GPI) head Alex Dreyfus has announced the first annual American Poker Awards.
The event will be held in Los Angeles, California, at the SLS Hotel in Beverly Hills on February 27, 2015.
The event looks to celebrate the poker industry and help develop the game worldwide by bringing some of the biggest names in the industry together.
"I think we are at the eve of a new boom," Dreyfus told PokerNews explaining how he believes this to be "the perfect time" for an initiative like the American awards."
Macau Gambling Revenue Up 9.3 Percent
HONG KONG – (Reuters) - Macau, the world's casino capital, raked in 32.35 billion patacas (US$4.05bil) in gambling revenue in May, boosted by robust demand from Chinese visitors keen to bet in the country's only legal casino hub.
Growth in Macau, a special administrative region like neighbouring Hong Kong, was up 9.3% in May, lagging analyst estimates of 13-15%.
William Hill Nasal Strips to be Handed Out for Belmont Stakes
The UK’s biggest bookmaker William Hill will be offering its own branded nasal strips at betting shops in honor of this year’s Belmont Stakes race and the next Triple Crown winner (wishful thinking perhaps) California Chrome. ESPN's Darren Rovell first reported on the most unusual offering.
Why nasal strips?
Forbes: Sheldon Adelson Winning His War Against Online Gambling
Forbes.com’s Nathan Vardi argued on Tuesday that casino billionaire and mega GOP donor Sheldon Adelson is now winning his war against Internet gambling.
It was a war mounted last fall that included slickly produced so-called public service messages coupled with lobbying efforts from some big name former politicians the likes of one time New York Governor George Pataki and former Arkansas Democratic Sen. Blanche Lincoln.
