Business & Financial
Need for Online Gambling in NJ Intensifies: PA Bumps Atlantic City
New Jersey Governor Chris Christie may have more of an incentive to sign a bill legalizing online gambling in his state as numbers showed Wednesday that Pennsylvania for the first time has bumped Atlantic City out of the number two US gambling destination after Las Vegas.
11 Companies Vying for Massachusetts Gambling Establishments
BOSTON (Associated Press) -- Eleven firms hoping to compete for licenses for resort casinos or a slots parlor filed initial applications and non-refundable $400,000 application fees before a Tuesday deadline, the Massachusetts Gaming Commission announced.
Four groups waited until the final day to submit applications, joining seven others that had previously filed.
A surprise last-minute entry was PPE Casino Resorts, affiliated with the principals of Baltimore-based Cordish Cos. The firm had not publicly expressed interest in Massachusetts before.
PokerStars One Step Closer to Buying Atlantic City Casino
ATLANTIC CITY, New Jersey — (Associated Press) - An Internet gambling company wants to buy Atlantic City's Atlantic Club, and says it's ready to pump money into the brick-and-mortar casino to help prop up the seaside gambling resort.
Rational Group US Holdings, the parent company of PokerStars and Full Tilt Poker, is asking New Jersey casino regulators for permission to buy the Atlantic Club for an undisclosed amount.
The proposed deal will be scrutinized closely.
Crown Gambling CEO Linked to Taiwan Gambling Probe
Crown Ltd CEO Rowen Craigie has been named in an investigation into the alleged channelling of $US180 million in illicit gambling funds from Taiwan to Macau.
From the Sydney Morning Herald:
Online Poker Traffic Climbs 9 Percent in First Week of New Year
Good news for the world of online poker as traffic has climbed 6 percent during the first full week of the new year. Advancers led decliners 9-1.
PartyPoker to Reduce Rakeback for Its Top Players
PartPoker, the world’s third largest online poker room, plans to eliminate its Platinum Elite status VIP program offerings effective April 1, 2013. Currently, the program offers these players up to 50 percent rakeback. The reduction will result in no more than 30 percent rakeback.
Mohegan Sun Will Apply for Palmer Casino
BOSTON (Associated Press) - The owners of the Mohegan Sun casino in Connecticut have found a new financial backer and are expected to apply to the state's gambling commission to build a resort in Palmer.
Mitchell Etess, chief executive of the Mohegan Tribal Gaming Authority, tells The Boston Globe the company has struck a partnership with New York investment group, Brigade Capital Management, to bankroll the development and will file its application on Monday.
Palms Casino in Vegas Caught Up in Drug, Prostitution Sting
LAS VEGAS -- Gambling regulators are fining the Palms casino in Las Vegas $1 million after nightclub employees provided undercover agents with prostitutes and drugs, including cocaine and prescription painkillers.
Atlantic City Revenue Expected to See Decline
(Associated Press) - For six years now, Atlantic City's casinos have been taking a beating from gambling halls popping up in neighboring states.
Figures due out Thursday afternoon will show just how far New Jersey's casinos fell in 2012.
Atlantic City's casino revenues have fallen from a high of $5.2 billion in 2006 to $3.3 billion in 2011. The 2012 figures are expected to be lower than that.
Nevada Gambling Revenue Way Down in November
CARSON CITY, Nev. (Associated Press) -- Nevada state gambling revenues have dipped, with officials reporting that casinos won 11 percent less in November compared with the same month a year ago.
The Nevada Gaming Control Board reported Thursday that casinos won about $783 million for the month, and the state collected nearly $46 million based on that amount.
The state's share was down more than 20 percent from the previous year.
November's revenue drop came after two months of climbing win numbers in Nevada.
Lottomatica Group and Golden Gaming Receive Nevada Okay for Web Gaming
Two more online gambling firms have received approval to operate in the already saturated Nevada Web gaming sector.
The Lottomatica Group, which runs subsidiaries GTECH and SPIELO, will go before the Nevada Gaming Commission later in the month to obtain their license. The company operates on the technology side of the industry.
Golden Gaming, a subsidiary of Sartini Synergy Online, was also approved by the Commission Wednesday.
- Aaron Goldstein, Gambling911.com
Cuomo to Expand Gambling in New York State With Three New Casinos
ALBANY, N.Y. — (Associated Press) - Gov. Andrew Cuomo proposes that an expansion of gambling in New York begin with three casinos upstate and none in New York City.
The state Legislature is expected this year to consider final passage of an amendment to the state constitution that would allow up to seven Las Vegas-style casinos beyond Indian land. If approved by lawmakers, voters could make a final decision on the amendment in November.
Nevada Lawmakers to Decide on Internet Poker State Compacts
With attempts to pass a federal measure legalizing online poker now deemed a failure, the Nevada Assembly Bill 5 will now look to establish multi-state compacts.
Betfair Moves to iPoker Network
Europe’s largest betting exchange, Betfair, will be moving its online poker room off the Ongame Network and on to the world’s 4th largest network, iPoker.
Virgin Games Taken Over by Gamesys: Move Into US Market Possible
Virgin Games announced on Monday it will now be under new ownership effective 29 January. Gamesys has taken over the company after eight years of dedicated services as an online casino, bingo and poker operator.
Affiliates of Virgin Games will be migrated into the Gamesys affiliate program.
Gamesys was founded in 2001 by Noel Hayden, Robin Tombs, Andrew Dixon and four developers. They operate the popular online gambling site Jackpotjoy.
Churchill Advocates Owning Casino in Louisville
LOUISVILLE, Ky. (Associated Press) — A Churchill Downs official says if expanded gambling is approved in Kentucky, it is important that the company own and operate any casino located in Louisville.
Brett Hale, who is Churchill's senior vice president for corporate and government relations, told The Courier-Journal (http://cjky.it/112vtUk) in a statement on Friday that if another company was allowed to run a casino in the Louisville market "138 years of racing heritage and Kentucky Derby tradition will be put at risk."
Vegas Bookmakers Were Hit Hard in 2012
The Las Vegas bookmakers and those online are still licking their wounds after one of the worst betting seasons on record.
From the LA Times:
Record Gambling Revenue in Macau for Month of December
(Reuters) - Macau, the world's largest casino market, raked in $38 billion (23.2 billion pounds) in annual gambling revenues in 2012 after monthly revenues for December hit a record, a signal of sustained strength in the only place in China where visitors are able to legally gamble in casinos.
Revel Casino Gets $150 Million More in New Financing
ATLANTIC CITY, N.J. (Associated Press) While some questioned the wisdom of opening a $2.4 billion casino resort in a cutthroat market at the end of a nationwide financial meltdown, some investors still believe in Revel.
Atlantic City's newest casino, one that has struggled to find a place in the seaside gambling market, has obtained $150 million in new financing to help keep it going.
Zynga Shuts Down PetVille, Mafia Wars 2 and More for Cost Cutting
It’s curtains for 11 Zynga titles as the publicly traded social media company is looking to cut costs.
The casualties include PetVille, Mafia Wars 2, Fishville and Indiana Jones Adventure World.
Late this year, Zynga announced it will focus more heavily on real money online poker during the early part of 2013 ahead of inevitable legislation in the USA.
The company also announced it was slashing 5 percent of its full-time workforce while shutting down its Japan office.
Maryland Live Casino to be Open 24 Hours
(Associated Press) - Maryland's largest casino will be open 24 hours a day, seven days a week.
Maryland Live! at Arundel Mills Mall unlocked its doors for the last time on Thursday morning.
Previously, Maryland casinos could be open from 8 a.m. to 2 a.m. Sunday through Thursday and 8 a.m. to 4 a.m. Friday and Saturday. But an expansion of gambling approved by lawmakers in August and voters in November included the expansion of hours for the state's casinos.
iDate 2013 in Las Vegas to Feature Google, CBS News, Federal Trade Commission
Those in the gambling sector might be interested in attending iDate 2013 in Las Vegas this coming month (January 16-19, 2013). Don’t be fooled by the name. One of the best presentations at their recent Miami event was from search engine giant Bing.com. Anyone who is even slightly involved in SEO or affiliate marketing should consider attending. And, yes, Google will be there.
It is Christmas at NorthBet: Free Fantasy Football Offered
Northbet, the premier boutique online sportsbook that also features free Fantasy Football in addition to wagering, wants to wish all Gambling911.com readers a very merry Christmas and they have plenty of gifts for their customers as we see below.
PokerStars Becomes One of First Regulated Online Poker Companies in Germany
ONCHAN, ISLE OF MAN – PokerStars announced today that it has become one of the first regulated online poker operators in Germany, having been granted a license from the German state of Schleswig-Holstein.
PokerStars will soon offer real money cash games and tournaments under the new license, enabling players to test their poker skills against the global community of online poker players for fun and for profit.
Playtech May Complicate William Hill Takeover of Sportingbet
LONDON (Reuters) - British bookmaker William Hill has rejected a claim by joint venture partner Playtech that it should share in the benefits of a planned takeover of online gambling group Sportingbet.
The intervention by software group Playtech has complicated a deals seen as pivotal in the overseas expansion of William Hill, Britain's largest bookmaker.
William Hill is spending 454 million pounds to acquire Sportingbet's Australian operations and an option to buy its business in Spain.
Hero Poker Eyeing New Networks: Temporarily Closes and Transfers Accounts
Hero Poker doesn’t appear to be completely done as the company’s CEO claims he will at some point move his website to another poker network.
7Red Sports Alive and Kicking Despite Reported BetIslands Purchase
A representative for 7Red Sports insists his company has nothing to do with beleaguered BetIsland and it is business as usual.
An individual representing himself as the owner of now defunct BetIslands.com announced earlier in the month that his sportsbook had just purchased 7Red Sports.
Pros Could Start Buying Up Condos in NYC, Philly With NJ Online Poker
With news Thursday that the New Jersey Senate had passed a bill to legalize online gambling by a margin of 33-3, one has to wonder about a positive economic impact that may not have initially been entered into the equation: a real estate boom!
New Jersey Senate Gives Final Approval to Internet Gambling Bill
As was to be expected, the New Jersey Senate voted in favor of a bill legalizing Internet gambling in the Garden State.
S1565, an act authorizing Internet wagering at Atlantic City casinos under certain circumstances and amending and supplementing the "Casino Control Act", P.L.1977, c.110 (C.5:12-1 et seq.). passed in the Senate almost unanimously, 33-3.
William Hill Acquires Sportingbet: Expands Into Australia
LONDON - (Reuters) - William Hill, Britain's largest bookmaker, expanded into the large Australian gambling market when it and partner GVC Holdings agreed a 485 million pound ($789 million) deal for Sportingbet on Thursday.
William Hill is paying 454 million pounds for its share of the deal - giving it Sportingbet's Australian operation and an option to acquire its Spanish business.
Smaller partner GVC will take on the remaining businesses, which are in countries where regulation is less clear cut and investment risks are higher as a consequence.
