Business & Financial
Betable Wants to Revolutionize Online Gambling Industry, Bring Real Money to Social Gaming
Betable introduced the world's first real-money gaming platform and announced its private beta developer program on Monday with Founder and CEO Christopher Griffin slated to appear on a panel Tuesday (July 10) at VentureBeat's GamesBeat 2012 titled "Social Casino Games" at 2:30 p.m. PST. (read more on the Betable blog here)
Betable Brings ‘Real Money’ Betting to Social Gaming: Farmville for Real Cash
A startup company is promising to bring the thrill of winning real money to the social gaming realm. Betable, a London-headquartered company that is working in California with US game developers, will offer money bets on just about any online game.
Camasino opens real money live poker play online using webcams. The ultimate social gaming experince. Available to US players for FREE PLAY only at this time.
Full Tilt Poker Disgraced CEO Raymond Bitar Must Remain in Prison
Following his arrest this past week, Full Tilt Poker’s CEO Raymond Bitar was unable to make the bail term requirement of $2.4 million.
Over the weekend, things suddenly changed. It now appears as if Bitar will remain in prison for the foreseeable future. The $2.4 million bail deal will no longer be in effect.
Macau's Melco in $1B Philippine Casino Project
HONG KONG (AP) — Macau gambling company Melco Crown Entertainment is teaming up with the Philippines' richest man to develop a $1 billion casino resort in Manila in a sign of the industry's plans for rapid expansion in Asia.
Melco said late Thursday that it would develop the project with three companies controlled by Philippine tycoon Henry Sy. Melco is jointly controlled by Lawrence Ho, who is the son of Macau casino king Stanley Ho, and James Packer, the son of late Australian media magnate Kerry Packer.
5050 Poker Players to Just Get 15 Percent Back, If That
Following the abrupt closure of 5050Poker last month, the shuttered online poker company has revealed that affected customers will only be entitled to 15 percent of their funds back, and they’ll be lucky to even get that.
A statement from the company read:
Gambling Company News and Tweets – July 5, 2012 (Overnight/Morning Edition)
Here is all the latest Twitter chatter related to the gambling sector – poker, sports betting, financials, entertainment, politics and more. Be sure to follow Gambling911.com on TWITTER here to get all the latest updated gambling news as it happens.
Top Current Company News: Zynga, Betfair
Visa Restrictions on Gambling Blamed for Macau Slow Down in Growth
After years of accelerated growth, the world’s biggest gambling destination, Macau, witnessed an abrupt slowdown in May. Part of the blame is now being placed in Visa.
A presser put out by the Paragon Report made the claim:
Brazilian Series Of Poker 2012 to be Sponsored by PokerStars
PokerStars é o novo patrocinador da Brazilian Series Of Poker (BSOP)
The Brazilian Series of Poker 2012 (BSOP) will now be part of the PokerStars global tournament calendar. The world’s largest “real money” online poker site claims to have the biggest chunk of the Brazilian poker playing market.
The first PokerStars-sponsored BSOP event will take place in São Paulo from July 26-31 at the Holiday Inn, Parque Anhembi. Other stops will include Rio de Janeiro, Curitiba, Belo Horizonte, Fortaleza and Balneário Camboriú.
Ray Bitar Remains Detained After US Magistrate Agrees to $2.5 Mil Bond
The disgraced former CEO of now shuttered Full Tilt Poker, Ray Bitar, remained behind bars on Tuesday after voluntarily turning himself in on Monday. US law enforcement agents arrested Bitar at New York’s JFK Airport.
Bitar engaged in what prosecutors described as a “ponzi scheme” though many familiar with the case believe Bitar’s activity was more akin to plain out-and-out theft and does not quite meet the definition of a ponzi scheme.
Darren Rovell Out at CNBC, Returning to ESPN
Darren Rovell, who has regularly covered the sports and online gambling sector for CNBC during a 6-year stint, will be returning back to his roots at ESPN.
Rovell’s last day at CNBC was Tuesday (July 3) with a final airing on Thursday.
PaddyPower.com Taken Down
The UK’s third biggest bookmaker and one of the world’s most popular online poker sites was taken down a good 5 hours Tuesday afternoon. The site was back up by late Tuesday evening.
Paddy was suffering from an outage duringthe mid-afternoon period right up through the evening hours. Betting on the later portion of the Wimbledon tennis tournament was interrupted as a result of the outage.
PaddyPower tweeted throughout this period:
Gambling Company News and Tweets – July 3, 2012 (11 am EST)
Here is all the latest Twitter chatter related to the gambling sector – poker, sports betting, financials, entertainment, politics and more. Be sure to follow Gambling911.com on TWITTER here to get all the latest updated gambling news as it happens.
Top Current Company News:
888 Holdings Enters US Online Gambling Market With WMS Gaming Alliance
888 Holdings announced on Monday plans to enter the US online poker market through an alliance with slot machine developer WMS Gaming Alliance. 888 will offer free play poker in the initial stages.
US Prosecutors Still Allege Full Tilt Poker, Ray Bitar Engaged in Ponzi Scheme
An additional indictment was filed against Raymond Bitar, CEO of now defunct Full Tilt Poker, on Monday July 2, 2012 after he voluntarily turned himself in to US authorities.
Bitar has remained at large since April 15, 2011 following charges of money laundering and bank fraud in connection with running what was once the world's second largest online poker room.
Zynga Celebrates 5th Birthday
The social gaming network Zynga is celebrating its 5th birthday – anniversary, whatever you want to call it - today July 2, 2012.
Euro 2012 Boosts Betfair Revenues
By Keith Weir
LONDON, June 29 (Reuters) - The Euro 2012 soccer tournament helped online gambling exchange Betfair to report strong trading on Friday, with the development of mobile apps seen as a driver of future revenue growth.
The online bet-matching company, set up 12 years ago, reported a 15 percent rise in underlying profits (EBITDA) from its core businesses to 92 million pounds ($142.66 million) in the year to April 30. Betfair shares rose 2.8 percent to 755.5p by 0825 GMT.
Macau Gambling Growth Misses Expectations
(Reuters) - Macau's gambling revenue growth rebounded last month from May, though the increase was slower than expected, signaling muted spending in the world's largest gambling destination.
Revenue rose 12.2 percent from a year earlier to 23.3 billion patacas ($2.92 billion) in June, faster than May's 7.3 percent gain, government data showed on Monday. Analysts had expected a 15 percent increase.
Time for Lock to Rock: Poker Site Gets Rid of Bugs, Extends $4000 Bonus Into July
Nobody said it was going to be a seamless transition, one online poker skin practically starting an entirely new network from scratch, especially a skin that brought with it several thousand customers.
Let’s face reality for a moment, even the long established dinosaurs like PokerStars haven’t been immune to software issues and other obstructions. Only a chosen few know how to create and manage a successful online poker network. This is why the Vegas casinos feel the need to team up with established players from the European market.
William Hill Goes to War With Betfair Over Horse Racing Levy
William Hill, England’s biggest bookmaker, wants to force Betfair customers into contributing to a horse racing levy. Betfair prides itself on being the largest betting exchange. Because there is no middleman (a bookmaker) as part of the betting exchange business model, customers of Betfair have thus far been exempt from paying money towards horse racing.
William Hill will plead its case in court over the coming week.
Gambling Company News and Tweets – June 29, 2012 (4 pm EST)
Here is all the latest Twitter chatter related to the gambling sector – poker, sports betting, financials, entertainment, politics and more. Be sure to follow Gambling911.com on TWITTER here to get all the latest updated gambling news as it happens.
Top Current Company News: Ladbrokes
Not The Best Week for Ladbrokes: Profit Warning has Investors Heads Spinning
Ladbrokes shares fell 12 percent on Thursday following a profit warning issued by the company. Profits for Ladbrokes online unit are expected to be half what they were for this period compared to last year. Follow Gambling911.com on Twitter for all the latest Ladbrokes news.
Euro 2012 Huge for Bookmakers: Helps Boost Betfair Profit by 50 Per Cent
Betfair, the world’s largest sports betting exchange, reported a more than 50 per cent jump in pre-tax profit for the 12 months to April 30, mostly a result of heavy beting on the Euro 2012 in recent weeks.
“The European championships have been our biggest sports betting event. More bets have been laid on the Euros with us than for the last World Cup,” Stephen Morana, Betfair’s interim chief executive.
Online Gambling News: Lock Poker Extends 4K Bonus, Battle of Ronin Through July
This is the latest gambling news as published June 29, 2012 during the 11 am EST hour that includes big news regarding Lock Poker’s extension of its uber popular 200 percent signup bonus that pays up to US$4000 into the month of July (2012). Please follow us on Twitter here for up-to-the-minute breaking news.
Additionally, The Battle of Ronin has also been extended.
What exactly is The Battle of Ronin you ask?
Introducing GoldenNuggetPoker.com
Golden Nugget, Inc. and Landry’s, Inc. have announced the launch of the online poker website GoldenNuggetPoker.com in anticipation of the US market opening up for real cash play across a broad range of states including Nevada and Nevada. Online poker became legal in Delaware today (June 28, 2012).
Ladbrokes Share Price Plummets 12 Percent: Weak Margins Cited
Ladbrokes, one of the UK’s largest bookmakers, saw its shares fall almost 12 per cent after issuing a profit warning due to declining revenues in its online business.
From Christopher Thompson of the Financial Times:
Pam Anderson is Back With BamPoker.com
Pam Anderson got into the online poker game a few years back – courtesy of Doyle Brunson - and that lasted about a month as the Unlawful Internet Gaming Enforcement Act (UIGEA) was passed shortly thereafter.
Now Pamela Anderson is back with BamPoker.com, part of the Facebook social gaming market.
Social casino games are reportedly played by 13 percent of all gamers.
Shuffle Master Terminates Deal With Ongame Poker
(Market Watch) - Shuffle Master, Inc. (nasdaq global select market:SHFL) ("Shuffle Master" or the "Company") today announced that after careful consideration it has decided not to proceed with the acquisition of Ongame Network Limited.
Microgaming Terminates Contract with 5050Poker: Issues Statement
As Gambling911.com reported last week, 5050Poker and Microgaming have severed ties, yet oddly enough the 5050Poker site remains up and running with the Microgaming logo appearing at the bottom.
Hollywood Poker Closes but Players Funds Appear Safe at RedKings.com
Another one bites the dust as Hollywood Poker has shut its doors for good. But unlike Purple Lounge Poker Room and Casino, which abruptly shut down last month leaving players high and dry, customer funds at Hollywood will be transferred over to RedKings.com.
Microgaming Poker Network to Introduce True Value Rake Allocation
The Microgaming Poker Network has announced plans to introduce a new rake structure beginning July 1, 2012.
