Business & Financial
PokerStars Calls Off Purchase of Atlantic Club Casino
Overnight Gambling911.com reported that an initial contract between PokerStars and the Atlantic Club Casino had expired. On Wednesday it was confirmed that Stars has backed out of the deal to purchase the financially strapped Atlantic City-based casino.
Atlantic Club CEO Michael Frawley issued a statement confirming that the sale was “terminated in accordance with its terms.”
No PokerStars in Atlantic City for Now
A deal that would have allowed the world’s largest real money online poker room to take over a troubled Atlantic City property is dead for now.
PokerStars was to have acquired the Atlantic Club Casino, formerly the Atlantic City Hilton, however, the initial contract has since expired.
From the Wall Street Journal:
Canadian Government Caught Off Guard by Bitcoin Emergence
OTTAWA – (Canadian Press) - Canadians buying and selling an emerging digital currency are running afoul of established banks and operating in uncharted territory for financial regulators.
"The Canadian government doesn't know what a Bitcoin is, doesn't recognize the Bitcoin, and there's no regulatory agency that knows what a Bitcoin is," said Joseph David, the owner of VirtEx.
His Calgary-based website lets Canadians trade Bitcoins through an online market similar to a stock exchange. David said the two-year-old company facilitated $15 million in transactions this year.
Everett Enters Into Agreement With Steve Wynn for Massachusetts Resort Casino
EVERETT, Mass. (Associated Press) — Las Vegas casino operator Steve Wynn would make $30 million in advance payments to the city of Everett and more than $25 million in annual payments once a proposed resort casino was open for business, under a host community agreement announced Thursday by Mayor Carlo DeMaria.
Zynga Upgraded From ‘Sell’ to ‘Hold’ After Disastrous Week
Following a huge decline in its share price this week, there was a little ray of hope for Zynga Inc. Friday as TheStreet Ratings upgraded it from a “sell” to “hold”.
That development comes following Zynga reporting stronger than expected earnings per share for the past quarter.
Online Poker Room Tower Gaming Shuts Down: Cake Takes Over Accounts
Tower Gaming, which has been in business for seven years now, shut its doors this week with all player accounts being migrated to Cake Poker.
Once an Ongame poker room skin, Tower Gaming has operated on the Revolution Network since November 2011.
“After years of fun and excitement around the tables and more good times than we can remember, we’re stepping out of the game,” a statement from Tower Gaming read.
Zynga Shares Were Down Another 6 Percent Thursday
After falling 10 percent in after hours trading Wednesday, social gaming company Zynga witnessed another 6 percent drop in its share price heading into Thursday afternoon.
The company's surprise profit in the first three months of this year was overshadowed by reported revenue decline, a drop in the number of users and a lower-than-expected second-quarter forecast.
Revenue fell 18 percent to $263.6 million, from $321 million.
Analysts, on average, had expected revenue of $264.5 million, according to FactSet.
Legends Sports - Where is My Money: The Latest Account Transfer Information
Gambling911.com isn’t sure whether all Legends Sports customers received an email detailing the transfer of their accounts (keeping in mind that many emails from offshore gambling sites end up in one’s spam folder then go on to get lost). As many of you are finding the Gambling911.com website through search engines for terms related to Legends Sports, you’ll be happy to know we have the answer for you as to where your funds have gone.
Borgata Hotel Unveils Online Gambling Plans
Fast forward to 2024 and $3.23 billion had been generated over the past year from online casino gaming in the U.S. with New Jersey accounting for a cool $1.5 billion.
Zynga Shares Drop More Than 10 Percent in Extended Trading
NEW YORK — (Associated Press) - Zynga Inc.'s surprise profit in the first three months of the year got overshadowed by a revenue decline, a drop in the number of users and a lower-than-expected second-quarter forecast.
The online game maker's stock fell more than 10 percent in extended trading Wednesday after the first-quarter results came out.
Z Capital Partners Files Investor Presentation for Affinity Gaming Board
LAKE FOREST, Ill. -- Z Capital Partners, L.L.C. ("Z Capital"), a Chicago-based private equity firm and the largest shareholder in Affinity Gaming (the "Company" or "Affinity"), with over 30% of outstanding shares, today filed an investor presentation supporting its nomination of two highly qualified, independent candidates to the Affinity Gaming Board.
888.com Expects Big Dividends From Online Poker in US by 2015
LONDON - (Reuters) - Gambling company 888 Holdings Plc expects to launch online poker in Nevada this summer and should start to see the full effects of more open U.S. markets from 2015.
Nevada, home to gambling centre Las Vegas, granted the London-listed company a licence last month and 888 is also seeking clearance to operate in New Jersey, another state where a ban on Internet betting is being lifted.
Will BuddyBet be the Next Social Online Gambling Phenom
Social gambling website BuddyBet has secured $3 million in funding from private investors.
BuddyBet lets buddies play against one another as opposed to playing against the actual website or a bookmaker. The site itself focuses exclusively on sports betting but will move into other sectors in the coming months.
VentureBeat.com explains the BuddyBet concept:
Foxwoods Inks Deal With GameAccount
Foxwoods parent company, the Mashantucket Pequot Tribal Nation, has inked a partnership deal with GameAccount Network as a means of pursuing legalized online gambling in the US.
Initially, the site will offer play-for-fun Web gambling. Other operators could ultimately join the Foxwoods network.
Bet365 Named in Affidavits Tied to Criminal Complaint
Bet365 was recently mentioned in the affidavits supporting a criminal complaint filed against two individuals in the United States District Court for the Northern District of New York who are accused of money laundering connected with an Internet gambling operation. Bet365 was not named as a defendant, but the question remains; can a non-U.S. facing site be at risk for prosecution as a result of customers who obtain access to their sites through masked IP addresses?
WSEX Founder Shoots Self in Head: Commits Suicide
World Sports Exchange founder Steve Shillinger killed himself late Saturday, it was learned by Gambling911.com.
The company he founded was forced to shut down this past week as it was insolvent.
Shillinger shot himself in the head.
It was not immediately clear if the other two founders of WSEX.com, Hayden Ware and Jay Cohen, still had access to player funds.
Bet365 Family Coates Become Britain’s First Gambling Billionaires
Congratulations to Peter Coates, 75, his daughter Denise, 45, and son John, 43. The Coates family are about to become Great Britain’s first billionaires of gambling.
The elder Coates started Bet365 while his daughter is widely credited for building the brand’s online presence.
BetOnline Now Offering Skill Games: Online Dominoes, Yahtzee, Spades, More
BetOnline announced Saturday it will begin offering skill games as part of its extensive online gaming platform.
WagerWeb Takes Over Legends Sports Accounts: 5 X Rollover Required
Not exactly the most attractive deal in the world but WagerWeb.com is a good book and the situation could be far worse all things considered. They have informed Gambling911.com that the rollover requirement for the Legends bailout is 5 x as opposed to the previously reported 10 x. Good news for Legends customers indeed.
World Sports Exchange Finally Shuts Its Doors: Sinisterly Apologies
After years of slow pays and no pays, one of the first online gambling websites has unceremoniously shut its doors.
World Sports Exchange is officially dead following 17 years in business.
Caesars Interactive Entertainment Seeks New Jersey Online Gambling License
Caesars Interactive Entertainment is the latest company to apply for an online gambling license in the state of New Jersey.
Caesars Entertainment operates the World Series of Poker and currently holds an Internet poker license in Nevada. But the Silver State only has around 3 million people living there compared to New Jersey’s nearly 9 million along with the other couple million just across both rivers in New York City and Philadelphia. New Jersey will permit anyone to access licensed online gambling sites provided they are physically located inside the state.
Probability Plc Looks at Potential US Online Gambling Alliances
(Reuters) - UK-based Probability Plc, a maker of gambling games for mobile phones, is in advanced talks with potential U.S. partners to break into the American online gaming market as several states relax betting restrictions.
The legalization of online gambling in New Jersey this year, following similar legislation by Nevada and Delaware last year is expected to persuade other states to change their laws.
Macau Poker Cup 2013 Schedule: PokerStars LIVE at the City of Dreams Will Host
The Macau Poker Cup 2013 schedule features events that kick off April 17 and run through April 28. The event itself will be hosted at the newly branded PokerStars LIVE at the City of Dreams in Macau.
Stars has moved from their temporary home in the Grand Waldo Entertainment Complex.
One of the most highly anticipated events taking place during the Macau Poker Cup is the $HK$11,000 Macau Poker Cup: Red Dragon Main Event, which last year featured the largest number of entries for any tournament held in Asia to date. It includes a $5 million guaranteed prize pool.
Baccarat Accounts for 91 Percent of Macau Revenue
Baccarat has accounted for 91 percent of Macau’s gross revenue numbers and 67 percent of its gross income of 57.815 billion, according to the Gaming Inspecition and Coordination Bureau.
It’s Official: PokerStars Applies for NJ License to Operate Atlantic Club Casino
While news broke earlier in the year that the world’s largest real money online poker room was in talks to acquire the Atlantic Club Casino and Hotel in Atlantic City, PokerStars had not yet filed for the necessary licensing application with New Jersey’s Gaming Commission.
The company filed the application last week and will now undergo a 90-day review. Most industry experts believe PokerStars will ultimately be permitted to operate in the state.
Online Jackpot Games to Offer $2 Million at Cake Poker: Upgrades Blackjack
Popular online gaming site, Cake Poker (CakePoker.eu) has launched Jackpot Games, a selection of cash and Gold Chip buy-in casino and entertaining games that offer wins of up to $2 Million. In addition, Cake has launched an upgraded version of their BlackJack games with new, advanced features including auto play, speed settings and the inclusion of strategy tips.
Legends Sports to Shut Down: Will Transfer Accounts to Other Book
Exactly one week after indictments were handed down against 34 individuals tied to Panama-based Legends Sports, that long established sportsbook has made the decision to shut down.
Legends alerted customers via email that they were in talks with another top online sportsbook to have all accounts transferred.
Spiros ‘The Greek’ Athanas Released on $1 Million Bond
One of online sports betting’s most legendary bookmakers, Spiros “The Greek” Athanas, has been released on $1 million bond according to court documents.
Athanas, one of 34 charged last Wednesday in connection to his alleged role in a multi-billion dollar sports betting ring, turned himself in two days later.
Free-to-Play Online Poker Network Zen Entertainment Acquired
A Swedish gaming company has purchased the troubled free-to-play online poker network Zen Entertainment.
NYX Gaming Group has completed the acquisition according to Gaming Intelligence Report.
Legends Sports ‘Bookie’ to Remain Behind Bars: Deemed a ‘Fight Risk’
While three of four individuals arrested in Florida for their role in a massive multi billion dollar sports betting ring have been released on bond, one will remain behind bars.
Prosecutors claim Philip Gurian, 51, acted as a “bookie” out of his Boca Raton home on behalf of Panama-based Legends Sports. The Sun-Sentinel reported Monday evening that Gurian had employees working for him in 10 different states and 6 countries. He is charged with conspiracy to commit money laundering.
