Business & Financial
Caesars Posts Larger Than Anticipated Loss in 1st Quarter
(Associated Press) - Caesars Entertainment on Wednesday reported a wider first-quarter loss as gambling revenue fell and the company's casinos outside of Las Vegas faced stiffer competition and bad weather.
The Las Vegas-based company, which runs the Caesars, Harrah's, and Horseshoe brands, has struggled since the recession, and has not posted a profit since 2009. It's hobbled by its lack of a presence in the Chinese gambling enclave of Macau, which has been the center of the gambling world for years.
Pennsylvania to Look at Legalizing Online Gambling: Adelson Can’t be Happy
Consultants told Pennsylvania lawmakers Wednesday that legalizing online gambling in the state would lead to more total gambling revenue, approximately $307 million a year to be more precise. Neighboring New Jersey has already legalized Web casinos and poker though, to date, early income figures appear way off the mark.
James Thackston on 'Years Long Revenge Trip to Damage Online Gambling Co’s’
iGaming.org columnist Haley Hintze calls him “a jilted would-be software entrepreneur on a years-long revenge trip to damage companies that wouldn’t purchase his software products or theories.”
She’s referring to one James Thackston, for whom Hintze details the release of public emails exposing his apparent agenda.
Sands Bethlehem Not for Sale After All: Adelson to Invest More in Property
Despite much speculation in recent months, the Allentown Morning Call reported on Tuesday that the Sands Bethlehem Casino is not for sale and that Sands chairman Sheldon Adelson has announced further investment in the property.
Reefer Madness: Nevada Warns Casinos Over Pot Investments
LAS VEGAS (Associated Press) — Nevada gambling regulators issued a notice Tuesday advising casino operators against investing in the state’s nascent medical marijuana industry.
Gaming Control Board member Terry Johnson sent a memo reminding licensees that the state has legalized dispensaries but federal law still prohibits manufacturing and distributing marijuana.
AceSportsbook.com Announces Revamped Affiliate Program: Review
"AceSportsbook.com has announced a revamped affiliate program, with commission percentages up to 25%. They handle everything, just send them players, and they send you money.
Adelson to UNLV Students: ‘I Don’t Want a Casino Put on Every Kitchen Table’
LAS VEGAS — (Associated Press) - Casino mogul Sheldon Adelson urged students to challenge the status quo, made a moral case against online gambling and extolled Republican virtues during a talk about leadership Monday at the University of Nevada, Las Vegas.
Adelson, the CEO of Las Vegas Sands and the ninth richest man in the world according to Forbes magazine, was part of the school's "Conversations on Being Successful" series. The company's president and chief operating officer, Michael Leven, also spoke.
Ader Highlights ‘Case for Change’ at Bwin.Party: Current Board on ‘Destructive’ Path
Activist investor Jason Ader of SpringOwl on Monday made available its initial presentation highlighting the need for change at Bwin.Party, one of the largest online gambling firms in the world.
George Clooney, Steve Wynn Feud Grows More Intense
Las Vegas casino magnate Steve Wynn insists he did not call US President Barack Obama an “a**hole” during a heated argument last month while having dinner with Hollywood actor George Clooney.
Churchill Downs Boycott May be Taking Hold as Kentucky Oaks Handle Dips
This year’s Kentucky Oaks handle fell nearly 6% as revealed by Churchill Downs Saturday, making some wonder if a much publicized call to boycott Churchill Downs is starting to have some negative impact.
Steve Wynn Wins $7.5 Mil Judgment Against ‘Girls Gone Wild’ Founder
CARSON CITY, Nev. — (Associated Press) - The Nevada Supreme Court has upheld Steve Wynn's $7.5 million judgment in a civil defamation case against "Girls Gone Wild" founder Joe Francis.
Boyd Gaming Narrows 1Q loss Thanks to Positive Vegas Results
LAS VEGAS — (Associated Press) - Boyd Gaming reports its first-quarter loss narrowed thanks to improvements in Las Vegas casinos and excitement in the city's redeveloping downtown.
The casino operator reported Wednesday that it lost $6.2 million, or 6 cents per share, for the period ending March 31. A year earlier it lost $7.3 million, or 7 cents per share.
Net revenue of $708.3 million fell nearly 4 percent from $735.6 million during a year ago.
Top Horse Trainer Agrees: Boycott Churchill Downs!
Momentum is building for a fan boycott of Churchill Downs, the iconic horse racing track in Louisville, Kentucky, USA, where the world-famous Kentucky Derby is annually run and will be again this Saturday.
UK Tightens Rules on High Street Betting Shops
LONDON - (Reuters) - Britain is tightening controls on the spread of betting shops and the high stakes gambling machines that account for a growing part of their business, the government said on Wednesday.
Britain has a well developed gambling industry and betting shops have been a feature of the high street for more than 50 years after they were legalised in the early 1960s.
However, public concern has been growing over clusters of shops housing machines on which gamblers can stake up to 300 pounds ($510) per minute playing games such roulette.
How to Fund an Online Betting Account in New Jersey: Firm Claims It’s Been Tough
Wayne Parry, New Jersey-based Associated Press writer, reports that funding an online betting account in the Garden State has not been easy despite the activity being legal for nearly 6 months now.
Funding by credit card has been among the most difficult.
Floyd Mayweather Wants to Buy LA Clippers: Gambling Rep Could be an Issue
WBC Welterweight champion Floyd Mayweather Jr. said Tuesday that he would like to purchase the NBA franchise LA Clippers.
Mayweather, a regular at Clippers games, made the comment during a press conference while in Las Vegas.
Nevada Gambling Revenue Up 7.6 Percent in March
Nevada gambling revenue up 7.6 percent in March; nearly 11 percent on Las Vegas Strip
CARSON CITY, Nev. (Associated Press) -- Nevada casinos won $982 million from gamblers in March, an increase of 7.6 percent from the same month a year ago with most casino games — from baccarat and craps to slot machines — posting better revenue numbers, state regulators reported Tuesday.
Traders Betting on Bookies: Shares Climb
(Reuters) - Bid talk and relief about 'less draconian' Government measures lift the bookmakers
Traders were betting on the bookmakers amid a revival of bid gossip and relief that a clampdown on the gambling industry was likely to be less severe than feared.
Equity Poker Room Shuts Down Accounts Due to 'Growing Pains'
The newly formed online poker network Equity Poker has begun to shut down player accounts of those it deems to be “too aggressive”.
Bitcoin Sportsbook Coinbet.cc Folds After Only Four Months
Coinbet.cc, a bitcoin-only online sportsbook, has closed its doors, leaving customers wondering if they will ever see their winnings.
[SportsBettingOnline.com does accept bitcoin here]
Online Gambling in New Jersey: Toms River, Jersey City Top List of Registrants
This week we learned that Toms River ranked number one on the list of Most Registrants signing up and playing on licensed New Jersey online gambling websites. The state’s second largest city, Jersey City, ranked 2nd.
5WPR CEO on Donald Sterling of LA Clippers Reputation: No Affect on Game Line
Sometimes, even the best communications strategy cannot solve problems that are uncovered by the media. 5WPR CEO, Ronn Torossian, who has worked extensively in crisis PR and is a regular contributor to the Gambling911.com website says that the reputation of Donald Sterling, the owner of the LA Clippers, is beyond the pale of repair for his comments - which were caught on tape by TMZ.
Las Vegas Sands Corp Beats Profit Expectations for 2014 Q1
LAS VEGAS (Associated Press) -- Casino giant Las Vegas Sands Corp. said its first-quarter net income rose 36 percent due to a strong performance in Macau, the world's largest gambling market.
Billionaire CEO Sheldon Adelson said Thursday that the company delivered growth in every sector of business in Macau, and reported that plans to add thousands more hotel rooms are on budget and on schedule. He predicted demand in the enclave, the only place in China where gambling is legal, would not be satisfied anytime in the foreseeable future.
Churchill Downs Boycott Could Provide Wakeup Call as Execs Stuff Their Pockets
While it may not scare the masses away from next week’s Kentucky Derby, a call to boycott Churchill Downs could prove effective thereafter.
Jacob’s Family Has ‘Gambling’ Obstacle Standing in Way of Buffalo Bills Purchase
ESPN.com on Wednesday reported that the family involved with helping to find the Buffalo Bills a new owner hasn’t ruled out buying the franchise themselves. The Bills previous owner, Ralph Wilson, died last month.
Jeremy Jacobs Jr., the son of Boston Bruins owner Jeremy Sr., is engaged in discussions related to the franchise's future. The Jacobs, one of Buffalo's wealthiest families, would most certainly want the Bills to stay put.
IGT Net Income Down 67 Percent as Slot Sales Decline
LAS VEGAS (Associated Press) — Gambling equipment manufacturer International Game Technology said its net income fell 67 percent as sales of slot machines declined and the company faced competition from smaller vendors.
Shares fell $1.45, or 10 percent, to $12.62 Wednesday.
PokerStars and Top Tribe Agree to Offer Online Poker in California
Sacramento, CA - The Morongo Band of Mission Indians, California’s (and the world’s) three largest card clubs – the Commerce Club, the Hawaiian Gardens Casino and the Bicycle Casino – and The Rational Group, which owns and operates PokerStars, announced today that once California enacts legislation authorizing intrastate online poker, PokerStars will serve as the subcontractor providing the online poker platform and related services for a real-money online poker website to be licensed, owned and operated by an entity owned by the Tribe and the card clubs.
Marc Pincus Steps Down From All Operational Roles at Zynga
The social gaming giant Zynga founder Marc Pincus has stepped down from all operational roles saying ““Ultimately a Ship Is Better With One Captain”.
The announcement was made on Wednesday. Pincus will assume the role of company Chairperson.
Pincus stepped down from his CEO position last year.
WPT World Championship Atlantic City 2014 Numbers Are In: $1.3 Mil to the Champ
328 entries, $4,852,400 in prize money, to 36 spots will pay cash and $1,310,146 goes to the winner of this year’s WPT World Championship currently taking place in Atlantic City after 11 years in Las Vegas. The event is expected to provide the struggling seaside gambling resort with a significant economic jolt.
ASA Says Paddy Power ‘Made Joke’ Out of Domestic Violence, Mocked Amputees
The Advertising Standards Authority (ASA) has banned Irish online bookmaker from ever promoting bets on the Oscar Pistorious trial.
