Business & Financial
Moody’s Investment Service Backs Mohegan Sun Purchase of Resorts Casino Hotel
HARTFORD, Conn. – (Associated Press) - A ratings agency says the deal in which Connecticut-based Mohegan Sun casino operators will manage Resorts Casino Hotel in Atlantic City could boost the Mohegan tribal authority's management venture.
Moody's Investors Service said Wednesday that to the extent the Mohegan Tribal Gaming Authority can improve the performance at Resorts and develop a successful track record in Atlantic City's challenging market, the deal could result in more management contract opportunities.
South Point Casino Receives Tentative Approval for ‘Real Money’ Internet Poker
LAS VEGAS (Associated Press) - Nevada state gambling regulators have given tentative approval for a casino's plan to operate an Internet poker website accessible only within Nevada boundaries.
The state Gaming Control Board in Carson City gave conditional approval Wednesday for the South Point casino to conduct interactive gambling.
The Las Vegas Review-Journal reports that if the Nevada Gaming Commission gives the OK on Aug. 23, the casino owned by Michael Gaughan would be the first licensed for interactive gambling.
Mobile Gambling Comes to Atlantic City
TRENTON — (Associated Press) - Adults who patronize Atlantic City’s casinos will soon be able to gamble at the pool, in their hotel rooms or while waiting in line at the buffet.
Gov. Chris Christie has signed legislation increasing gambling options to include handheld devices.
Mobile gambling will be restricted to the casino property.
Mohegan Sun Takes Over Atlantic City Resorts Casino Hotel
ATLANTIC CITY, N.J. — (Associated Press) - The tribe that owns the Mohegan Sun casino extended its reach in the East on Tuesday by taking over operations of Atlantic City’s oldest casino, planting itself in the region’s gambling mecca as an alternative to luring tourists to its slot machines and poker tables in eastern Connecticut.
Facebook Friendzy ‘Real Money’ Online Gambling Appears to Target Little Ones
With the “real money” online gambling launch of Bingo & Slots Friendzy on Facebook in Great Britain Tuesday, courtesy of provider Gamesys, mums across the nation have begun condemning the deal.
Indeed, the new app appears to have the look and feel of a child’s game.
"If my child came and asked me for money to play on this, I'd be livid," one mother said, speaking with TechEye.com. "But then I couldn't blame him, it looks like a very simple child's game."
Zokay Entertainment Acquires Global Poker Index
Zokay Entertainment announced today that it has acquired the Global Poker Index (GPI) from Pinnacle Entertainment. The GPI is a patent pending system that ranks the weekly performance of the world’s top 300 live tournament poker players. Since its launch in June of 2011, the entire poker community has embraced the GPI and considers it to be the most respected and well recognized independent ranking system for live tournament poker players worldwide
Real Money Online Gambling Doesn’t Help Facebook as Shares Continue Skid
Facebook Inc. extended its decline through Tuesday (August 7, 2012) with the stock falling 5.5 percent to $20.72 at the closing bell in New York, this despite news that the company would begin offering real money online gambling in the United Kingdom.
The social media giant, which went public in May, is now down 45 percent after peaking at $38 per share.
Americas Cardroom Introduces CAP Tables: Limits How Much Players in Hand Can Bet
The online poker site that's famous for listening to its player base and making enhancements that make its software more attractive has done it again. Americas Cardroom has introduced CAP tables as part of their latest software release. The tables will be available in low-stakes tables to start.
Naughty Poker a ‘Tasteful and Classy’ Kind of Online Strip Poker Game Claims Founder
"It is naughty, but it's a tasteful and classy kind of naughtiness combined with fast-paced game play that makes Naughty Poker a thrilling experience beyond any other online strip poker," says David Shiller, a Toronto-based software engineer who developed the new online strip poker site aptly titled “Naughty Poker”.
Sure there is some degree of skill we suppose.
Here's how the game works:
MGM 2nd Quarter Loss Double What Wall Street Expected
NEW YORK — (Associated Press) - MGM Resorts International on Tuesday posted a second-quarter loss double what Wall Street was expecting, but revenue surged 29 percent on gambling and hotel room gains.
Shares rose 12 cents to $9.38 as the market opened.
The Las Vegas company, which runs the MGM Grand, Bellagio, Mandalay Bay and other properties, lost $145.5 million, or 30 cents per share, compared with a year-ago profit of $3.44 billion, or $6.22 per share.
Amazon Enters Social Gaming Fray
Amazon.com is the latest company to enter the social gaming sector, though no word yet as to whether the online retailer will introduce poker.
For now, Amazon plans to kick off its social gaming with a product line called “Amazon Game Studios” while introducing a Facebook game titled “Living Classics”.
A company statement was released late Monday.
Facebook Launches Real Money Online Gambling in UK with Bingo Friendzy App
Breaking News 5:45 am EDT: Facebook announced this morning that it will begin to offer real money online gambling to UK residents 18 years and up beginning today, August 7, 2012, via a new Bingo Friendzy
app in conjunction with Gamesys, one of the UK’s largest online gambling operators.
“Gambling is very popular and well regulated in the UK . . . for millions of bingo users it’s already a social experience [so] it makes sense [for us] to offer that as well,” said Julien Codorniou, Facebook’s head of gaming for Europe, Middle East and Africa.
Betting the NFL on a Tablet Now Possible as Bookmaker Unveils New Website for iPad Users
Bookmaker has unveiled its new tablet website just in time for the 2012 NFL betting season.
A tablet computer is a mobile device larger than a phone, the most popular of which is the Apple iPad.
Atlantic City Resorts Casino Hotel to be Operated by Mohegan Sun
(Associated Press) - The owners of Resorts Casino Hotel, Atlantic City's first casino, are poised to hand over management to the Indian tribe that operates the Mohegan Sun casinos in Connecticut and Pennsylvania, according to a published report.
Time Warner Buys Bleacher Report
The popular sports content website Bleacher Report has been purchased by Time Warning Inc. for just under $200 million. The Federal Trade Commission approved this deal last week.
Time Warner’s Turner Broadcasting is looking to bolster its online sports exposure along with ad revenue.
Turner had managed ad sales for sister company Time Inc.’s Sports Illustrated but that deal ended last year.
MGM Resorts Expected to Report 2nd Quarter 2012 Loss
NEW YORK – (Associated Press) - MGM Resorts International is expected to report a quarterly loss on charges related to the dwindling value of some casinos when it releases second-quarter results before the market opens Wednesday.
WHAT TO WATCH FOR: How it's dealing with Americans falling desire to spend. The casino and resort operator, in which billionaire investor Kirk Kerkorian holds a major stake, has extensive operations in both Las Vegas, where it's based, and the Asian gambling mecca of Macau.
William Hill Appeals Horse Race Betting Levy
William Hill, the largest bookmaker in the United Kingdom, announced on Monday (August 6, 2012) it was appealing a case in the Court of Appeal that exempts customers of betting exchanges from being liable for paying a horse racing levy.
Hill has specifically cited rival betting exchange Betfair in regard to the exemption.
Bodog Poker Exits Eastern European, Portions of Asian Market
Bodog Poker this weekend announced it was exiting the emerging online poker market of Eastern Europe and portions of Asia.
More Headaches for Zynga as EA Lawsuit Claims Farmville Game Violates Copyright
NEW YORK — (Associated Press) - Electronic Arts Inc. has sued online game maker Zynga saying that its new game “The Ville” infringes its own game, “The Sims Social.”
EA said Friday that “The Ville” is “unmistakable” in its similarity to “The Sims Social,” which launched more than a year earlier. EA says the games are “largely indistinguishable” to a casual observer.
86 Percent of Respondents Would Play ‘Real Money’ Online Poker if Legal in US
A survey conducted by GoldenNuggetPoker.com revealed that 86 percent of its customer base would play online poker for “real money” should the activity become legal in the US.
GoldenNuggetPoker.com currently offers a “free-to-play” platform only.
PokerStars Settlement Great for Everyone Except Bwin.party Investors
While nearly everyone in the poker community seemed elated by news of a settlement between the US Government and PokerStars paving the way for that company to some day re-enter the US market, executives and shareholders at one betting firm may have been cursing out all those involved.
Bwin.party it seems has taken quite a hit by the news in recent days. The company has witnessed a 10 percent decline in its share price over the past three days.
PokerStars Will Have Tough Time Obtaining License in Nevada
In a report filed by CardPlayer.com’s Brian Pempus this week, it was revealed that PokerStars will have some serious “credibility issues to overcome” should it want to obtain a license to operate an online poker site from the state of Nevada.
Moore Games Accuses Playtech ‘s iPoker Network of Holding Funds, Not Paying Players
Playtech and its iPoker Network arm went on the defensive this week, denying claims made by its former Swedish poker skin Moore Games, that they are the one’s holding player funds.
Dusty ‘Leatherass’ Schmidt Becomes First Americas Cardroom Elite Pro
Dusty "Leatherass" Schmidt will represent Americas Cardroom at poker events (including the upcoming Punta Cana Poker Classic in November), and will also create blogs for the site's members. He will also be closely involved in the selection of other pros for the ACR Elite team, seeking players who are dedicated to the online game and are active in social media.
Screwed: Sheldon Adelson’s Sands Corp 'Prostitution Strategy' Docs Under Scrutiny
Former Sands CEO Steven Jacobs alleges that casino billionaire Sheldon Adelson and his company, the Las Vegas Sands, engaged in all kinds of illegal activities in Macau, the most notable being a Chinese “prostitution strategy”.
Ladbrokes Vows to Fix Online Woes as Poker Revenue Dips, Shares Drop
(Reuters) - Ladbrokes, Britain's second-biggest bookmaker, pledged on Thursday to fix its ailing digital operations where profits halved in the first six months of 2012 in contrast to a strong online performance by its rivals.
Its British high street business and an improved performance in European retail and telephone operations helped to fuel an 11 percent rise in group operating profit to 106.9 million pounds ($166.6 million) in the first half, just ahead of forecasts.
Shares in Ladbrokes added 1.8 pence to 156.5 pence by 0810 GMT.
Shamballa Jewels Renews Partnership with European Poker Tour for Season 9
EPT President Edgar Stuchly today announced that the European Poker Tour will partner with Shamballa Jewels for a third consecutive year and confirmed the luxury jewellery brand as the Official Bracelet Sponsor of the European Poker Tour Season 9 High Roller and Super High Roller events.
This announcement marks the second major EPT Season 9 sponsorship deal after Slyde by HD3 watches was confirmed as the Official Watch Sponsor of the European Poker Tour Season 9 Main Events.
CNBC: Sheldon Adelson Casino Probed in ‘Prostitution Probe’
Casino billionaire Sheldon Adelson’s Sands Casino in Macau is reportedly under investigation by the local Chinese Government according to a CNBC report.
The company reportedly transferred documents linked to a wrongful dismissal case to the United States from Macau.
Zynga Execs Accused of Insider Trading: Slapped With Lawsuit
Social gaming company Zynga, its executives and bankers were hit with a class action lawsuit Tuesday alleging insider trading.
From MSNBC.com:
Macau Gambling Revenue Slowest Since 2009: Tropical Storm Blamed
(Reuters) - Gambling revenue in Macau, the world's largest gambling market, inched up 1.5 percent in July from a year earlier, the slowest growth since the financial crisis in 2009 as a tropical storm reduced visitor numbers, compounding subdued demand from Chinese gamblers.
July's revenue was 24.58 billion patacas ($3.08 billion dollars), though still ahead of analyst expectations and up from 23.3 billion patacas in June, government data showed on Wednesday. Analysts had forecast July growth to be flat or down 1 percent year-on-year.
