Business & Financial
CakeBet.com Preparing to Launch BitCoin Online Casino
CakeBet.com, not to be confused with CakePoker.eu/Cake Gaming Whose banner appears below, is one of a handful of new BitCoin online casinos preparing to launch.
Adelson Says ‘Zero’ Contributions Made by Suen to Get Macau License
Testifying for a third day Tuesday, billionaire casino mogul Sheldon Adelson, 79, insisted everything was on the up-and-up in obtaining a license in the gambling Mecca of Macau.
Richard Suen, a one-time business associate, claims that he is owed US$328 million for helping the company win a casino operating license from China back in 2002.
When asked what contributions Suen made in getting the Las Vegas Sands license, Adelson responded “Zero”.
Bitcoin Currency Hits $219: Stress Placed on Processors
Bitcoin, the virtual currency that has many online gambling operators starting to take notice, hit a record high of $219 on Monday.
Just one year ago, a single Bitcoin was worth just $9.
The big question now: Are we starting to see a bubble?
Nevada Sports Betting Bill Would Allow Investment Groups, Syndicates
CARSON CITY, Nev. — (Associated Press) - Private investment groups could place sports wagers on behalf of investors under a proposed law in Nevada that would allow the state to reap millions of dollars in untapped revenue.
Gambling911.com Marketing: College Basketball Winds Down, Masters
Gambling911.com enjoyed great success with the 2013 NCAA Tournament, ranking well in search right up to the Final. Case in point, we ranked number 4 on Google for “2013 NCAA Championship Point Spread: Michigan vs. Louisville” but still received tons of traffic.
[For industry professionals, be sure to check out our Marketing section regularly here and if you wish to contact us, please do so here. We are available 24/7.]
Full Tilt Poker Former CEO Ray Bitar Pleads Guilty: Awaits Heart Transplant
The former CEO of Full Tilt Poker Raymond Bitar has plead guilty to money laundering and bank fraud.
Indicted on April 15, 2011 on what has become known as “Black Friday”, Bitar was facing significant prison time.
Bitar, however, remains hospitalized as he is about to undergo a heart transplant.
PartyGaming Little Traffic Gain From Zynga Partnership
With the huge news surrounding Zynga’s entry into the real money online casino and poker realm last week, the immediate impact seems anything but exciting.
Traffic numbers suggest Party has seen little, if any, gain.
This of course could change in the coming weeks and months as more and more Zynga existing users begin to stick their toe in the real money waters.
Online Gambling in New Jersey has Already Generated $90 Million
John Brennan of The Record pointed out an interesting fact this past weekend.
New Jersey, which last month legalized online gambling, has already generated a massive windfall from the activity: $90 million to be precise.
Shuttered Online Gambling Firm Intrade.com Facing Liquidation
It was revealed in recent days that the once popular online gambling trading site Intrade.com is facing a $700,000 cash shortfall and could end up in liquidation. Not good news for the hundreds of customers worldwide affected by last month’s abrupt closure.
Oklahoma Cheyenne Tribe to Offer Real Money Online Gambling
The Oklahoma Cheyenne and Arapaho Tribes are set to go live with real money online gambling via their website PokerTribes.com this summer.
So add Oklahoma to the shortlist of US states that will be offering real money online gambling, right?
Not so fast.
China Dismisses Casino Billionaire Sheldon Adelson Macau ‘Influence’
Billionaire and Chairman of Las Vegas Sands Corp. Sheldon Adelson last week testified that he did not authorize former President William Weidner’s offer of a share of the company’s Macau profits to a Hong Kong businessman.
‘Bet, Raise Fold – The Story of Online Poker’ Film to Debut June 2013 (Video)
The first ever feature-length documentary focusing on Internet poker is set to debut June of this year. “Bet, Raise Fold – The Story of Online Poker”.
It is the brainchild of several real players who used their own winnings to create the film.
Bitcoin Hacked: Leads to Buying Frenzy and 20 Percent Knocked Off Price
Virtual currency Bitcoin’s most popular exchange, Tokyo-based Mt.Gox was hacked Thursday, resulting in a massive buying frenzy.
20 percent was knocked off its price overnight Thursday as a result of the hacking. That, however, is just a drop in the bucket of the 360 percent rise in Bitcoin’s price over the past month.
iPoker the Latest Online Poker Network to Roll Out Anonymous Tables
iPoker, the world’s third largest online poker network, has announced it will begin featuring anonymous tables as early as next week.
Tribal Casinos Prepare for US Online Gambling: Pechanga Conference Planned
As Gambling911.com reported earlier in the week, some Tribal casinos are looking to combine their resources as a means of gaining entry into the lucrative US online gambling market.
Online Gambling Affiliates in the US: Preparation, Adapting Will be Key
There is an excellent report by John Mehaffey of LegalPokerSites.com on the legal landscape of online gambling in the US and how current affiliates with 10 plus years of experience may or may not be able to gain access. This, we at Gambling911.com believe, is a must read, especially in the wake of
Atlantic City Profits Down 27 Percent in 2012
(Associated Press) - Atlantic City's casinos saw their profit fall by more than 27 percent last year, even as revenue from non-gambling sources inched upward.
The city's casinos collectively posted $360 million in gross operating profits in 2012. They were hurt by having to close for up to a week for Superstorm Sandy.
Zynga Shares Up Nearly 15 Percent on Real Money Web Gambling News
News of Zynga beginning to offer real money online gambling in the United Kingdom sent its stock price rising 15 percent Wednesday. The company also intends to offer real money gambling in some regulated European countries over the next couple of months and the US by year’s end.
Zynga Will Expand Real Money Online Poker Into Europe: Shares Surging
With the announcement that Zynga, the word’s largest social gaming market, will offer real money gambling in the United Kingdom, shares rose 5.5 percent to $3.24 in after-hours trade Tuesday. By late morning Wednesday, shares were up 12.4 percent to $3.45 with an earlier high of $3.49.
Fantasy Poker Manager Partners With World Series of Poker
Fantasy Sports and gambling have merged, as we have seen with Atlantic City casinos announcing last month they will begin to take action on Fantasy Sports.
Now what about poker?
Some say that is a sport!
The answer came Wednesday with an announcement that Fantasy Poker Manager, owned by Zokay Entertainment, has now partnered with the World Series of Poker to become the official Fantasy Poker site of the WSOP.
PokerView.com Shuts Down
Merge Network online poker skin PokerView.com is the latest to close its doors as the network continues to consolidate.
PokerView.com had allowed players to see one another online via webcam.
The following message appeared on the PokerView.com website effective April 1, 2013:
Dear PokerView Customer,
Antonio Esfandiari Made Official Brand Ambassador of Fertitta Backed Ultimate Poker
Ultimate Poker, an online poker room under development by Station Casinos and UFC founders Lorenzo and Frank Fertitta, has announced Antonio Esfandiari as its new brand ambassador.
Esfandiari became the biggest poker money earner of all time following his $18 million win last year in the $1 million buy-in “Big One for One Drop.”
Zynga Shares Surge on News of ZyngaPlusPoker Will Offer Real Money Play in UK
Zynga, the world’s largest social gaming company, announced Tuesday it will begin offering real money online gambling in the UK through its new website ZyngaPlusPoker.
Shares of Zynga, which closed 2.9% lower, rebounded 8% to $3.33 in after-hours trading following the news.
"We look forward to launching our social versions of real money games for players on Facebook and mobile in the UK throughout 2013," says Barry Cottle, chief revenue officer of Zynga, posted shortly after the announcement.
March Proves Lucky Again for Pennsylvania Slots: 2nd Highest Revenue Ever
March 2013 resulted in the second highest revenue ever for Pennsylvania slots. The most revenue ever occurred in March 2012.
“It’s probably because you do have the beginning of the upturn in weather normally that probably allows people to feel more safe in traveling,” said Doug Harbach, Spokesperson for the Pennsylvania Gaming Control said.
Pennsylvania’s 11 casinos witnessed a 1.6 percent decline in revenue compared to March 2012 where the total earned was $229.
Churchill Downs to Buy Maine’s Oxford Casino
OXFORD, Maine (Associated Press) — Less than a year after it opened, Maine's Oxford Casino is being sold for about $160 million to Churchill Downs Inc., the Kentucky-based gambling company announced Friday.
The deal awaits approval by the Maine Gambling Control Board and is expected to close in the fourth quarter of 2013.
Macau Gambling Revenue Up 25.4 Percent in March Over Same Period Last Year
Macau gambling revenue was up 25.4 percent in March compared to the same period last year.
Government data indicated that the world’s largest gambling destination experienced a rise to $3.92 billion.
Full year gambling revenue hit $38 billion last year.
Business from both mass-market and VIP, or high-stake gamblers, has been strong, RBC Capital Markets analyst John Kempf wrote in a March 25 note.
Casino companies like Galaxy Entertainment and Sands China Ltd. have been expanding and adding rooms.
- Aaron Goldstein, Gambling911.com
InterPoker Moving to OnGame Poker Network
One of the oldest online poker sites, InterPoker, as confirmed it is switching networks and moving from the International Poker Network to OnGame.
Amaya Gaming recently purchased OnGame and is positioning the company for a spot amongst the US legalized Web poker landscape. In recent months, however, OnGame has suffered from a string of defections.
Affiliates of the InterPoker website received the following email:
Cyrpus Banking Crisis Helps Bitcoin Value Rise (Video)
Despite news last week that the US Government has intentions of regulating the virtual currency Bitcoin, its value continues to rise at an incredible pace.
The reason: Tiny Cyprus in the Mediterranean. An island nation that was forced to enter a bailout while imposing what amounts to a 60 percent fee on high end bank balances with little warning.
Hintze: PokerStars Getting Licensed in Delaware an Uphill Battle
Haley Hintze of 4Flush.com raises some interesting points as it relates to PokerStars obtaining an online poker license in the state of Delaware. The odds are long based on how the Delaware Lottery itself envisions its interactive gaming process.
NATIXIS Issues ‘Buy’ Rating for Gambling Powerhouse William Hill
NATIXIS reissued a ‘buy’ rating on shares of England’s biggest bookmaker and online gambling firm William Hill with a target price of $7.16 on its stock.
This move follows JPMorgan Chase cutting their price target on shares of William Hill from $7.70 to $7.33 in a research note to investors on March 21st.
Four analysts have rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock.
