US Financial News

US Financial News and Odds on the US Economy

Expanded Gambling in Florida Approved by Senate

Expanded Gambling in Florida Approved by Senate

(Associated Press) - Florida could soon become home to more casinos and hundreds of more slot machines under a sweeping gambling bill that was easily passed Thursday by the state Senate.

 

Submitted by Payton on, Apr/03/2017

E-Sports Explosion Leads to E-sports Wagering

E-Sports Explosion Leads to E-sports Wagering

Many North American sports gambling fans have a notion stuck in their head that the NFL season is basically the only time of the year worth wild to make wagers.

Submitted by Payton on, Aug/02/2016

Cole Hamels DFS Outlook – April 9: Solid Versus Angels

Cole Hamels DFS outlook for this coming Saturday April 9 versus the LA Angels is good as he has pitched well against the opposing top batters.

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Yunel Escobar for example is just .172 vs. Hamels.

Submitted by Mary Montgomery on, Apr/05/2016

The doors of the former Revel Casino of Atlantic City will reopen!

That is some surprising news. The most expensive hotel-casino of Atlantic City, that cost $2.4 billions to build, is going to reopen some of its parts. Shut down in September 2014, the former Revel Casino may not be completely dead yet.

Located at the end of the Bordwalk in AC, the Revel Casino was the most expensive casino in the city. The story began in April 2, 2012 when the casino opened its doors for the first time.

Submitted by Payton on, Mar/04/2016

Yahoo Shares Fall 1.17 Percent on News of New York AG Subpoena

News of a subpoena issued by the New York Attorney General Wednesday as part of a probe into the Daily Fantasy Sports sector has resulted in a drop in its share price of 1.17 percent to $32.47 in afternoon trading.

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Submitted by Aaron Goldstein on, Nov/18/2015

StockBattle.com Fantasy Trading Site Shuts Its Doors After SEC Threat

StockBattle.com, a fantasy trading site based on the daily fantasy sports contest business model, has been forced to shut down following a warning by the Securities and Exchange Commission.

Submitted by Aaron Goldstein on, May/13/2015

Ladbrokes Posts 9 Percent Fall in Profits

(Reuters) – Ladbrokes (LAD.L), Britain’s second biggest bookmaker, said it intended to maintain its dividend in 2015, defying some analysts' expectations of a cut to help fund marketing costs, as it posted a 9 percent fall in annual profit.

The firm has struggled to keep pace with rivals such as William Hill (WMH.L) and establish itself in a growing online sector, with investment in marketing and product lagging others.

Submitted by Reuters on, Feb/26/2015

Bitcoin-Only Online Poker Room Seals With Clubs Closes After ‘Sledgehammer’ Raid

The largest of the Bitcoin-only online poker rooms, Seals With Clubs, has unceremoniously closed its doors following a raid of CEO Bryan Micon’s Nevada home.

Submitted by Nagesh Rath on, Feb/22/2015

MGM Shares Plummet: Morgan Stanley Says ‘Worst is Over’ for Macau Gaming

Casino stocks were not immune to Monday’s steep drop across all markets.  MGM Resorts reported a decline of 1.6% to $20.68 in trading due primarily to disappointing gambling results in Macau last month.

Last year’s results were the worst decline since the Chinese government liberalized the gambling enclave in 2001 with a 30.4% drop-off.

Submitted by Aaron Goldstein on, Jan/05/2015

Pay Per Head Solutions for Bookies, Agents

PayPerHeadAgents.com is a wholesale reseller of per head solutions that will satisfy all of an agent and bookie’s customers gambling needs.

Submitted by Aaron Goldstein on, Dec/05/2014

Canada Foreign Online Gambling Licenses Could Be Coming Soon

In Canada, all online gambling issues are handled on the provincial level. What this means is that the federal government doesn't have much say in what goes on, and as an industry, the goal is to use it to pad provincial revenue figures. One problem with this approach is that foreign operators who are not licensed by the provinces and who are not paying provincial taxes are able to operate more or less freely while the province-operated games suffer.

Submitted by Payton on, Dec/01/2014

California Tribe Begins Offering Online Gambling in New Jersey

ATLANTIC CITY  — (Associated Press) - California's Pala Indians became the first tribe to offer Internet gambling in New Jersey on Wednesday.

The Pala Band of Mission Indians began a test of their PalaCasino.com site. The tribe's online gambling arm, Pala Interactive, is partnered with Atlantic City's Borgata.

The company expects a full launch of the site on Monday, once it gets approval from the state Division of Gaming Enforcement. It will include more than 90 games and a daily free spin on a slot game.

Submitted by Associated Press on, Nov/19/2014

Caesars Looming Bankruptcy: Can’t Make Debt Payments

Caesars Entertainment Corp confirmed in a regulatory filing that it is contemplating bankruptcy as it will be unable to repay debts by the fourth quarter of 2015 without restructuring.

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Submitted by Aaron Goldstein on, Nov/17/2014

Reaction to Adam Silver Sports Betting Stance is Mixed

Gambling911.com has been bringing its readers extensive coverage of NBA Commissioner Adam Silver’s about-face on legalized sports betting.  The reaction has been a mixed bag as one might expect.

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Submitted by Alejandro Botticelli on, Nov/17/2014

Atlantic City Showboat Casino Sold, Will be Turned Into College Campus

Atlantic City’s famed and now shuttered Showboat Casino has been sold to Stockton College, which plans to convert the property into a satellite campus.

Caesars Entertainment and the college announced the purchase plan on Wednesday. The sale price was not announced, nor was a target closing date released.

Submitted by Aaron Goldstein on, Nov/12/2014

The End of PokerStars, Full Tilt Poker as We Know It?

News this week that Full Tilt Poker has opted not to renew the contracts of big name pros Gus Hansen and Viktor Blum may provide a glimpse of the future for FTP and its sister site PokerStars.com.

Submitted by Patrick Flanigan on, Oct/22/2014

Early FanDuel Investor: ‘Fantasy Sports is Finally Mainstream, Massive’

Paul Martino is Managing Director of Palo Alto-based venture capital firm Bullpen Capital and, these days, he is most excited about his early investment in FanDuel.com, a provider of daily fantasy competitions that continues to attract considerable cash infusions, most recently a $70 million windfall from Shamrock Capital Advisors.

Submitted by Aaron Goldstein on, Oct/05/2014

Bitcoin Set to Revolutionize Online Gambling

The average price of Bitcoin has settled in between $400 and $500 without the extreme upswings and downswings we witnessed earlier in the year, suggesting stabilization of the anonymous online currency.

Submitted by Aaron Goldstein on, Sep/25/2014

‘Barefoot’ Exec at New York Investment Firm Pleads Guilty to Inside Trading

Michael Lucarelli, who was mocked on Comedy Central’s The Daily Show after running away barefoot from photographers last month, has plead guilty to one count of securities fraud for inside trading.  He will be sentenced in January and faces up to 20 years prison time.

Lucarelli had served as a director of market intelligence at Lippert/Heilshorn & Associates prior to being charged last month.  

Submitted by Jagajeet Chiba on, Sep/24/2014

How Regulated Gambling Can Boost the Economy

In recent years, there has been a lot of focus on the potential impacts of a legalised worldwide gambling market. As more and more countries and U.S. states start to regulate the market to their residents, there have been calls from both critics and supporters of its possible effects.

One major argument for supporters is the major boost real-money gaming can provide to the economy. Since back in 1850, when gambling was legalised in Macau, governments have been reaping the benefits of a licensed gaming industry. 

Submitted by Payton on, Jul/03/2014

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.

Submitted by Payton on, Jun/11/2014

Borgata to Pay Out $1,721,805 to Affected Players in Chip Scandal

The Borgata Casino will pay out $1,721,805 to those affected by a scandal earlier in the year in which fake chips were detected during the Borgata Winter Open.

Submitted by Ace King on, Apr/15/2014

Spencer Bachus: 60 Minutes Segment a Hit Job

Alabama Republican Congressman and strong advocate for online gambling prohibition, Spencer Bachus, denied he engaged in any form of “insider trading”.  He called a “60 Minutes” segment that suggested otherwise “a hit job”.

Submitted by Aaron Goldstein on, Nov/16/2011

Absolute Poker Money Return Agreement with U.S. Department of Justice

The United States District Attorney's office has entered into an agreement with Absolute Poker/Ulimate Bet to return funds to poker players.

Submitted by Payton on, Jun/06/2011

FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY E-GOLD

FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY
E-GOLD, LTD, TRACEABLE TO CRIMINAL OFFENSES

 

Submitted by Payton on, Jun/06/2011

Dow Hits Lowest Point on Year

The Dow and S&P 500 hit its lowest mark for 2011 on Wednesday.

The Dow Jones industrial average (INDU) fell 280 points, or 2.2%. 

Submitted by Aaron Goldstein on, Jun/01/2011

Zynga IPO Could Happen in June: Company Worth $10 Billion

The popular social gaming and poker company Zynga is expected to file for an IPO some time in June, though most of the speculation is focusing on the later part of the month. 

Submitted by Aaron Goldstein on, May/27/2011

Zynga IPO Could Happen in June: Company Worth $10 Billion

The popular social gaming and poker company Zynga is expected to file for an IPO some time in June, though most of the speculation is focusing on the later part of the month. 

Submitted by Aaron Goldstein on, May/27/2011

Macau Casino Stocks May See Short Term Drop Second Half of 2011

Submitted by Aaron Goldstein on, May/24/2011

Yandex: Biggest 2011 Tech IPO

Submitted by Aaron Goldstein on, May/24/2011

Breaking News

Owning an Online Sportsbook Not All Fun and Games

Owning an online sportsbook may sound like a license to print all the money you want but the truth is such an operation is not always that easy to run without the proper tools.

Former Fugitive Linked to 1995 Gambling Murders Finally Convicted

Former Fugitive Linked to 1995 Gambling Murders Finally Convicted

A fugitive who was finally captured and arrested after being on the run for 16 years has now been charged with first-degree murder.

Ernie Bohn Wins $1500 Seven Card Stud Hi-Lo 8 or Better

Ernie Bohn Wins $1500 Seven Card Stud Hi-Lo 8 or Better

Ernest "Ernie" Bohn has defeated William Kohler to win the title in Event #40 of the 2017 World Series of Poker, $1,500 Seven Card Stud Hi-Lo 8 or Better.