Business & Financial
Leaked Email: PokerStars Chairman Seeks World Domination
Following news that the world’s largest “real money” online poker venture, PokerStars, will be acquiring its one time second biggest rival, revelations have surfaced regarding Stars intent and its pursuit of world domination, at least within the Internet poker universe.
From eGaming Review Magazine:
Mohegan Sun Posts Profits Plunge More Than Two Thirds
By STEPHEN SINGER
(Associated Press) - The parent company of the Mohegan Sun casinos in Connecticut and Pennsylvania reported Tuesday that third-quarter profit plunged more than two-thirds as new casinos in the Northeast lured away gamblers and remaining customers reduced spending.
The Mohegan Tribal Gaming Authority said that net income for the April-June period was $9.4 million, down nearly 68 percent from the same period last year. Revenue of $344.4 million was down 4.7 percent.
PokerStars Will be Allowed to Operate in US Once Again
As part of a settlement agreement reached with the US Government on Tuesday, PokerStars has agreed to pay all players owed by Full Tilt Poker living outside the US. The United States Government will arrange for players within the US to be paid what they are owed. PokerStars will take over the assets of Full Tilt Poker.
Shuffle Master Receives License by Nevada to Offer Real Money Online Poker in State
Shuffle Master has received a license by the Nevada Gaming Commission for interactive gaming.
This license will allow Shuffle Master to be a business-to-business partner with land-based casino operators in order to provide online poker games in addition to play-for-fun versions of its world-renowned proprietary table games, such as Three Card Poker, Ultimate Texas Hold'em, and Fortune Pai Gow Poker.
Ladbrokes Cuts Head of Products Trading Richard Ames as Company Struggles
The United Kingdom’s second largest bookmaker, Ladbrokes, has released Richard Ames, Head of Products Trading, in what appears to be a major transitional period for the company. Ladbrokes said he will remain on the board for now but that he "has ceased to perform his executive duties with immediate effect."
Chili Poker CEO Big News Coming This Week: Zynga Puts Blame on Facebook for Losses
Looks like Chili Poker's CEO is about to make an exciting announcement this week. It's not about Chili Poker, per sey, Alexandre Dreyfus tells Gambling911.com, but rather a new venture he is involved with. Dreyfus sold the Chili Poker database to Poker770 back in March and the technology to Bally Technology in April.
Alexandre Dreyfus @alex_dreyfus
ready for a new venture related to #Poker - more news soon.
Frustrated US Online-Poker Players Bet on Costa Rica
By TIM JOHNSON
McClatchy Newspapers
JACO BEACH, Costa Rica -- From his oceanfront balcony, Tyler Forrester glanced out at the Pacific surf on the beach. Palm trees rustled in the breeze.
"Tough life I'm living," Forrester said, cackling at his own humor.
Eolis: Full Tilt Poker Software to Re-launch in November
As reportedly Friday, Gambling911.com has independently confirmed that PokerStars will be given the green light to move ahead and purchase shuttered Full Tilt Poker following a settlement arrangement made with the US Attorney in the Southern District of New York. This deal also includes the payment of Full Tilt Poker players who have been owed monies for more than a year now.
Breaking News: Full Tilt Poker Players to be Paid in Full, US Attorney Grants Deal
Gambling911.com has confirmed that a deal for PokerStars to acquire Full Tilt Poker has been given approval by the US Attorney’s in the Southern District of New York. An announcement was forthcoming perhaps as early as next week from the US Attorney’s Office and US Attorney Preet Bharara, who has made it a top priority to ensure that affected customers of Full Tilt Poker be made whole.
Preet Bharara Receives ‘Person of Year’ Award Ahead of Positive Full Tilt Poker News (Video)
US Attorney for NY Southern District Preet Bharara recently received the India Abroad Person of the Year Award.
India Abroard is a New York City-based newspaper founded by Gopal Raja in 1970 and is the oldest magazine in the United States focusing on Indian-American affairs.
Since 2002, the publication has been honoring Indian-American achievers at the annual India Abroad Person of the Year award ceremony. Past winners include PepsiCo CEO Indra Nooyi and Nobel Prize winner Venkatraman Ramakrishnan.
Paddy Power ‘London Olympic-like’ Ad Can Stay: Locog Furious!
Online gambling houses are not permitted to advertise or associate themselves in any way with the London Olympics, but that didn’t stop the creative folks over at Paddy Power, the UK’s third largest bookmaker, from trying.
The advert, featured prominently at London, England train stations, proclaimed that Paddy Power was “The Official Sponsor of The Largest Athletics Event in London This Year”
Genting Singapore Shares Fall to 2-Year Low
(Reuters) - Shares of Genting Singapore GENS.SI fell as much as 2.3 percent to its lowest in nearly two years, after rival Las Vegas Sands' LVS.N second-quarter earnings miss raised concerns over the Singapore casino operator's results.
By 0222 GMT, Genting shares were 1.6 percent lower at S$1.26, with 30.2 million shares changing hands, compared to its full-day average volume of 35.2 million shares over the last five sessions.
Beth Shak Goes on ‘The View’ and Full Tilt Poker Questions Are Out of Bounds
America had a chance this week at hearing some insight into the Full Tilt Poker fiasco from an insider, but the clueless women of "The View" TV show dropped the ball and instead focused exclusively on footwear.
Defendant in ‘Black Friday’ Online Poker Case Gets 3 Years Prison Sentence
A defendant involved in processing millions of dollars in payments for three online poker rooms in the US has been sentenced to three years prison.
Ira Rubin pleaded guilty in January to money laundering, bank fraud and other gambling offenses. He faced up to 55 years in prison, however, prosecutors recommended 18 to 24 months.
Rubin was indicted along with 10 others in April 2011. Four of those named in the indictment still remain at large.
Friday Decision Likely on Maryland Special Session to Talk Gambling Expansion
ANNAPOLIS — (Associated Press) - A spokeswoman for Gov. Martin O’Malley says a formal announcement on whether a special session will be held in Maryland to expand gambling is likely to be made on Friday.
Raquel Guillory declined to say definitively on Thursday whether a special session will be held next month. She says details are still being worked out.
On Wednesday, House Speaker Michael Busch met with House Democratic leaders to tell them to be prepared for a special session because he believes the governor will call one.
Eight Analysts Cut Price Target on Zynga as Texas Hold’em Poker Maker Sees Sharp Decline
Zynga witnessed a 42 percent drop in its share price following less-than-rosy news about the company’s future. This has prompted eight different analysts to cut their target price on the maker of popular games such as “Farmville” and “Texas Hold’em Poker”. Of the 24 who follow the company, only give have a ‘buy’ rating on the stock with an average price target set at US$5.
First Online Poker Sites Expected to be Operating in Nevada Within 90 Days
Nevada Gaming Control Board Chairman Mark Lipparelli told the Las Vegas Review Journal Thursday (July 26, 2012) that the first licensed online poker rooms could be operating within that state in 60 to 90 days.
Chris Christie Continues to be Adamant: Casino Gambling in Atlantic City Only
Lawmakers in New Jersey want casino gambling a little closer to home for the millions of people who populate the northern portion of that state. Governor Chris Christie continues to lay down the law, insisting only Atlantic City will play host to casinos there.
Christie’s plan includes a $20 million “Do AC” marketing campaign, tax breaks for developers and state oversight of policing and cleanup, Terrence Dopp of Bloomberg News writes.
Las Vegas Sands Sees Huge 35 Percent 3rd Quarter Plunge
LAS VEGAS — (Associated Press) - Las Vegas Sands Corp. said Wednesday that second-quarter profit tumbled by 35 percent as the casino operator’s table winnings fell at home and in Asia.
Chairman and CEO Sheldon Adelson said the results didn’t meet his expectations. They didn’t meet Wall Street’s, either.
Shares of Las Vegas Sands fell 88 cents, or 2.3 percent, to end regular trading at $37.51. After more than an hour of extended trading after the results came out, the shares had lost another $2.47, or 6.6 percent, to $35.04.
Zynga CEO Confirms Real Money Online Poker in 2013 During Conference Call
Following a late afternoon collapse of Zynga’s share price Wednesday, CEO Mark Pincus confirmed reports featured on Gambling911.com earlier in the week that the company will be offering “real money” online poker in the first half of 2013.
Gay Poker Players Head Into The Closet With New Shirt Line
High profile gay poker players the likes of Jason Somerville and Vanessa Selbst have increased interest in the game within the LGBT community.
And now there’s a merchandise line that is looking to capitalize on this trend.
It’s Poker Pride!
Zynga Earnings Miss: Las Vegas Sands Falls Short Too
Zynga, which runs the world’s biggest free-to-play online poker room, slashed its outlook after trading.
Pendula: ‘If Zynga Stock Gets Nailed, I Intend to Add Aggressively to My Position’
All eyes are on Zynga later this afternoon (July 25, 2012) as that popular social gaming firm is set to release its financials.
June Gambling Revenue Flat in Mississippi
JACKSON, Miss. (Associated Press) - Mississippi's casino revenues were basically flat in June, as a recovery at gambling halls along the Mississippi River barely made up for losses on the Gulf Coast.
Overall revenue rose less than 1 percent from June 2011, to $186.9 million, according to Mississippi Department of Revenue figures released Tuesday. Statewide revenue was basically flat with May, down less than $150,000.
In June, the 12 coastal casinos won a total of $89.9 million from gamblers, down 4.3 percent from the $94 million that they won in June 2011.
Zynga Earnings May Surprise Wednesday: Investors Eagerly Await Las Vegas Sands Numbers
Wednesday July 25, 2012 will be a big day in the world of gambling stocks as investors eagerly await earnings reports from both Zynga and the Las Vegas Sands.
Gambling Sector Anxiously Awaiting Las Vegas Sands 2012 Q2 Earnings Wednesday
Sheldon Adelson’s Las Vegas Sands (LVS) earnings report for 2012 Q2 was to come out on Wednesday, expected after the market closes.
Early forecasts from Wall Street call for an 11 percent increase in earnings per share, to 60 cents while revenue is expected to jump almost 19 percent for $2.783 billion.
Zynga to Report Earnings on Wednesday: Online Poker Could Provide Big Boost
Yesterday, Gambling911.com reported on how Zynga was already in the process of negotiating “real money” platforms for its uber popular Texas Hold’em online poker game. On Wednesday (July 25, 2012), the company is set to report earnings.
‘Kite Marks’ for Online Gambling Could Encourage Operators to Obtain License in UK
Regulators in the United Kingdom have proposed using a “kite-marking system” as a means of encouraging operators to seek regulation there.
South Point Poker Would Move Away From Zen Gaming Network: Launch Planned for Fall
South Point Poker anticipates being the first “real money” intrastate online poker site in the US with a launch expected by fall.
Maine Newest Casino’s Future in Doubt following Development Permit Nullification
PORTLAND, Maine (Associated Press) - The immediate future of Maine's newest casino is in doubt.
Department of Environmental Protection officials and the Attorney General's Office were meeting Monday and discussing what course of action to take after a judge nullified a development permit for the Oxford Casino less than two months after the casino opened in the western Maine town of Oxford.
