Gambling Companies
Gambling Companies, Gambling Stocks
Is the Tropicana Buying the Sands Casino Bethlehem? Rumors Run Rampant
All of Eastern Pennsylvania is abuzz with the news that the famed Tropicana Hotel and Casino, a staple in Atlantic City, could be about to buy the Sands Casino Resort in Bethlehem.
Principals from both companies have declined comment when approached by the regional paper the Morning Call.
iGame and Plus One Dreams Online Gambling Firms Merge
Two Finnish online gambling firms based out of Malta have announced a merger in an effort to better compete with the likes of fellow Scandinavian wagering companies Betsson and Unibet. The combined company will use the iGame name.
New Jersey Online Gambling Revenue Estimates Dip Further
Casinos in New Jersey rounded off the month of February with a total revenue of $412.2 million from both iGaming and sports betting activities in the state.
Ladbrokes Buys Australian Betting Firm BetStar
(Reuters) - Bookmaker Ladbrokes (LAD.L), facing regulatory and tax pressures in its British home market, has expanded its Australian business by buying online betting company Betstar for 12.4 million pounds.
The deal announced by Ladbrokes on Wednesday follows a similar-sized acquisition last September when Ladbrokes - Britain's second-biggest bookmaker - bought online company Bookmaker.com.au and launched a website in Australia.
Activist Investor at Bwin.Party Questions Chairman Appointment
Jason Ader, the activist investor who works extensively in gaming, continues to make waves in the industry. As featured today in the Daily Telegraph, New York-based Ader feels bwin.party is tremendously undervalued.
Ader has reportedly told confidants that bwin needs some changes to meet its full potential in the gaming arena.
GVC Looks Towards More Acquisitions Following Sportingbet Success
(Reuters) - GVC is looking at further acquisitions after turning around the Sportingbet businesses it acquired last year, the online gambling company said on Wednesday.
GVC, one of the smaller players in the sector and listed on the AIM stock market, said operating profit more than doubled to 38.3 million euros ($52.8 million) in 2013, boosted by moving Sportingbet into the black.
"We are now ready for the next stage in our corporate development and further geographic expansion through organic growth and acquisitions," Chief Executive Kenneth Alexander said.
Playtech Gets ‘Buy’ Rating From 12 Agencies
Online gambling software firm Playtech has received a “buy” rating from 12 different agencies that cover the stock.
From the MidEast Times:
Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is GBX 816.10 ($13.53).
Boston Residents May Have Say Regarding Everett, Revere Casinos: Hearing May 1
BOSTON (Associated Press) — The state gambling commission will call a public hearing next month to consider Boston's bid to be declared a host community for proposed casinos in Everett and Revere.
The five-member Massachusetts Gaming Commission voted Thursday to call a May 1 meeting, with a decision on the city's status to be decided shortly thereafter.
If granted, host community status would give Boston voters an opportunity to weigh in on casino proposals by Mohegan Sun in Revere and Wynn in Everett.
Facebook Real Money Mobile Online Gambling Speculation With Oculus Acquisition
There has been plenty of speculation of late that social media giant Facebook could be planning to leap into the mobile online gambling market with its recent acquisition of Oculus.
Another Strong Quarter for Macau Gambling
* Monthly haul of $4.4 billion is third-highest on record
* March revenue at the top end of analyst estimates (Adds details on market, VIP segment, shares)
By Farah Master
HONG KONG - (Reuters) - Macau, the world's casino capital, raked in $4.4 billion in gambling revenues in March, 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 13 percent in March, at the top end of analyst estimates of 10-13 percent.
The Sheldon Adelson Some in the Media Have Forgotten: Bribery, Islamophobia
As casino billionaire and GOP mega donor Sheldon Adelson mulls his options for a “winnable” 2016 US Presidential candidate, Media Matters provided a glimpse into some of Adelson’s dark side – so to speak.
Hong Kong Shares Up Before Gambling Revenue Data
BEIJING (Reuters) - Hong Kong shares edged up on Monday as a selloff in energy and manufacturing heavyweights on disappointing earnings was offset by strength in gaming stocks before the release of monthly Macau gambling revenue figures.
Mainland China shares were little changed as some recent gainers were hit by profit-taking but strength in energy shares supported the index.
At midday, the Hang Seng Index was up 0.3 percent at 22,127.25 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.4 percent.
Paddy Power Takes Bets on Which Animal Will be Killed Next at Copenhagen Zoo
In recent weeks, when one thinks of the word “shameful” throughout Europe, three things come to mind: Putin, Copenhagen and Paddy Power, and not necessarily in that order.
Mobile Online Gambling in New Jersey Makes Up One Quarter of Market
A report this week shows that mobile online gambling in New Jersey has accounted for more than a quarter of the overall market at one of the leading websites, WSOP.com. This includes tablets such as the iPad.
Reuters: Casinos to Vet High Rollers Funds
(Reuters) - U.S. casinos may soon have to vet where their high rollers' funds come from under a requirement being developed by the U.S. Treasury Department, according to two people familiar with the matter.
The move is part of a push to address longstanding regulatory and law enforcement concerns that criminals can use casinos, which have not historically been as closely monitored as banks for compliance with anti-money laundering laws, to convert proceeds of crime into money that appears clean.
PokerHost Moves to Equity Poker Network: Leaves Merge Gaming
PokerHost.com, the online poker arm of sports betting website SBG Global, will be leaving the Merge Gaming Network and moving to the newly formed Equity Poker Network, it was revealed on Wednesday.
Equity Poker is currently home to the online poker arms of Heritage and 5Dimes sportsbooks.
Bill to Allow NJ Licensing of Foreign Internet Gambling Firms One Step Closer
(Associated Press) - A plan to let New Jersey casino regulators oversee foreign Internet gambling companies if they move their operations to Atlantic City has moved a step closer to approval.
A state senate wagering committee approved the bill Monday.
The measure is sponsored by Sen. Raymond Lesniak. He says many overseas gambling companies want the stamp of approval that would come from submitting to New Jersey's casino regulators, who are among the strictest in the nation.
The foreign firms wouldn't be able to take bets from anyone in the United States.
William Hill, Ladbrokes Shares Hit Again Following UK Budget Woes, Downgrades
Leading UK bookmakers William Hill and Ladbrokes witnessed yet another share decline on Monday following a downgrade and unfavourable football results over the weekend.
Hill dropped 1.33% Monday, Ladbrokes dropped 0.53%.
Paddy Power Pistorius ‘Will He Walk’ Bet Ad Most Complained About Ad Ever
The UK Advertising Standard Authority (ASA) has said that Irish bookmaker Paddy Power’s Oscar Pistorius murder trial 'Money Off If He Walks' ad was the single most complained-about advertisement ever recorded.
Paddy Power was forced to pull the ad after the ASA issued it a dire warning.
The ASA in its findings released Wednesday said: "We acknowledged that the ad had appeared in the context of a high profile murder trial that had received extensive media coverage and was of interest to the public.
William Hill, Other UK Bookmakers Hit Hard by Budget Blow
(Reuters) - The FTSE 100 slipped on Wednesday, with insurer Legal & General and gambling company William Hill slumping as changes imposed by the UK budget threatened their profits.
Fred Done Done With Manchester United: Refunds Bets to Win Premier League
BetFred.com’s colorful founder Fred Done has been widely criticized in the past for refusing (at least for a short while) to pay an Olympian’s granny the bet she placed on her long shot grandson and, more recently, proposing to slash employee salaries in half (something that does not appear to have come to fruition just yet).
Ladbrokes Boss Rewarded £4.7m: 85 Per Cent Pay Raise: Still Faces August Axe
Richard Glynn may be on the hot seat if he can’t turn things around at the UK’s second largest bookmaker, Ladbrokes. Glynn has already been issued a dire warning that he will be getting the axe come August if financials don’t improve come August.
Caesars to Develop Casino in South Korea
SEOUL/HONG KONG (Reuters) - Caesars Entertainment Corp looks set to build its first gaming resort in Asia after South Korea granted preliminary approval for a large-scale foreigners-only casino - a key boost for a company that has largely missed out on the region's boom in gambling revenues.
The consortium of Las Vegas-based Caesars, Singapore's OUE Ltd and Hong Kong-based Lippo Ltd is also one of the first foreign ventures to gain an entry into South Korea's casino industry, a promising market by virtue of its proximity to China and the country's wealthy punters.
Ifrah Law Wins Dismissal in PokerStars Class Action
Ruling for defendants in plaintiff-friendly jurisdiction likely spells end of class action
Billionaire Macau Real Estate Developer Joseph Lau Found Guilty of Bribery
(Reuters) - Real estate developer Chinese Estates Holdings said on Sunday its Chairman and Chief Executive Joseph Lau has resigned after he was found guilty of bribery and money laundering charges in Macau.
Caesars Claims Hidden Agenda Behind Mass Unflattering Background Check
Attorneys for Caesars Entertainment are citing newly released information from a Massachusetts Gaming Commission report as the main reason for an “unflattering background check” that prevented the casino giant from landing a lucrative contract in the state.
Mandalay Bay Will Pay Half-Million Dollars After Drug, Prostitute Bust
LAS VEGAS (Associated Press) - The Mandalay Bay Resort plans to pay a half-million-dollar fine after employees at an upscale Las Vegas Strip lounge provided prostitutes and drugs to undercover officers.
The Nevada Gaming Control Board filed a proposed settlement with the casino this week. It’s awaiting approval by the Nevada Gaming Commission.
Bwin.Party Sees Return to Growth Ahead of World Cup: Activist Investor Watches
(Reuters) - Online gambling company Bwin.Party said this year's soccer World Cup would help it to return to growth after problems in Greece and a shift away from riskier markets cut earnings in 2013.
Bwin.Party is concentrating on fewer markets where regulations are more clear cut and is expanding in the United States as gambling rules are relaxed there.
Rival Betfair, another of a cluster of online gambling companies that have grown up over the past decade, is pursuing a similar strategy.
Internet Gambling Growth Slows in New Jersey
ATLANTIC CITY, N.J. (Associated Press) — The growth of New Jersey's Internet gambling market slowed somewhat in its third full month of operation, with the Atlantic City gambling websites posting a nearly 9 percent revenue increase in February.
The 16 online gambling sites had posted a 28 percent gain in January, to $9.5 million. In February, the online sites won $10.3 million.
Online Poker Room TigerGaming.com Now Offering 24 Hour Payout Guarantee
The management of the Chico Poker Network are once again thrilled to announce that, after their acquisition of the network, they can now put out a very strong and positive message to all players at TigerGaming.com! They are offering 24 hour payouts, guaranteed - via Skrill, Neteller and EcoPayz, to all their players online!
