Business & Financial
Wikileaks Exposes Sheldon Adelson: Cable Discusses ‘Missteps’ in China
Casino tycoon Sheldon Adelson’s Las Vegas Sands Corp. is under federal investigation into whether it has complied with the Foreign Corrupt Practices Act and a recently uncovered Wikileaks cable suggests Adelson may be in some hot water in China as well.
Adelson is alleged to have “bribed” foreign officials in exchange for lucrative business deals. His casino empire enjoys a massive presence in the Asian gambling Mecca of Macua.
From Salon.com:
Bwin.Party Responds to DOJ Megaupload.com Complaint
The world’s largest Internet gambling company, Bwin.Party, responded to the US Department of Justice complaint that mentions its role as part of the high profile Megaupload.com indictment. Megaupload.com, a file hosting service, was taken down two weeks ago. The DOJ has accused the website of engaging in copyright infringement and pirating.
Bwin.Party had advertised on the service and was named in the complaint as a result. The gaming firm insisted it had terminated the contract with Megaupload.com once it became aware of the file sharing company’s activities.
Fertitta Interactive the Latest Company Seeking to Run Online Poker Room
Fertitta Interactive, which late last year purchased California online gaming company CyberArts Licensing LLC., announced Thursday it is seeking a license to operate a real money online poker room within the United States.
Macau Gambling Revenue Rises 35 Percent in January 2012: Casinos in General Have Great Month
Casino companies gained after revenue in Macau, the world's largest gambling hub, rose 35 percent in January (2012). MGM Resorts International climbed 0.7 percent to $13.14. Las Vegas Sands Corp. increased 0.8 percent to $49.50.
Third Straight Week Drop for Online Poker Traffic
Online poker traffic the world over fell 0.6 percent this week according to PokerScout.com.
Atlantic City’s Newest Casino Revel to Impose Term Limits on Employees
If you are thinking about getting a job at the all new Revel Casino in Atlantic City, you might want to think twice.
Newly hired employees of the Revel Casino will be subject to term limits of four to six years, just like some politicians. At the end of said term, employees will have to re-apply.
The policy will "attract the most highly professional people who are inspired by a highly competitive work environment," Revel wrote in a statement.
Magic KingDOME: Wife of Purple Lounge Casino Director Must Stand Trial After Disney 'Toilet" Incident
The wife of Media Corp PLC Non-Executive Director Chris Gorman will be forced to stand trial after an alleged sexual encounter and assault in an Orlando, Florida nightclub bathroom this past August.
Breaking News: Full Tilt Poker Class Action Suit Thrown Out
The Ifrah law firm won a favorable ruling on behalf of Full Tilt companies and the individual poker professionals who were named as defendants in the first class action suit brought by former U.S. Players in the United States District Court for the Southern District of New York last summer.
888 Holdings, Caesars Extend Online Gambling Agreement
Online gambling firm 888 Holdings and Caesars Entertainment Corp on Tuesday announced they have extended a licensing agreement that would allow Caesars to utilize 888’s Internet poker software in the United States.
888 said the agreement would see its arm, Dragonfish, power a selection of private poker brands of Caesars, one of the largest casino operators in the United States and owner of the famed Caesars Palace, once online gaming is permitted under the new regulatory regime.
Player Panel Comes to Terms With PokerStars Over Rake Structure Change
After weeks of planned player boycotts and outrage in the online poker community over PokerStars change in its rake structure, a panel assembled by members of the popular poker forum TwoPlusTwo.com have arrived at a compromise.
Rank £250 Million Offer for Gala Coral
Rank has reportedly offered £250 Million to rival Gala Coral as part of a potential acquisition bid. Should it go through, the combined company would become the biggest casino chain in Great Britain.
Rank currently operates 35 gambling establishments while Gala has a total of 24 casinos.
In a statement, Rank said: “The terms of any such acquisition have not been finalised and there is no certainty a transaction will occur.”
- Aaron Goldstein, Gambling911.com
Entraction Latest Online Poker Network to Rebrand: Now Known as IGT Poker Network
Entraction is the latest online poker room to change its name, following quickly in the footsteps of the Yatahay Network, which announced earlier this month they would be rebranded as the Winning Poker Network.
Entraction’s name change comes as a result of the Swedish company being acquired by gaming manufacturer IGT for $115m last March. It will now be named the IGT Poker Network. It is currently the 14th largest Internet poker network in the world.
Zynga Online Gambling Revenue Could be $5 Billion Claims JP Morgan
Zynga, which offers the largest free online poker site in the world, has gone all in with its push to offer “real money play” games. JP Morgan claims that Zynga can potentially generate $5 billion in revenue after the company announced it was in conversations with interested parties to offer the “cash play” platform.
Zynga Adds Bingo Game to Facebook
Gaming powerhouse Zynga has just introduced a brand new Bingo game.
The new Zynga bingo game is played like traditional bingo, Where one tries to get five consecutive numbers in a row or all four corners.
Bingo is one of the most successful games in the real cash world of online gambling. Its introduction follows news that Zynga is exploring opportunities to enter the real cash online gambling foray once the industry becomes legalized in the US.
Zynga also employs the social networking aspect of Facebook with features such as real time chat and themed rooms.
Online Poker Traffic Down 2 Percent This Week: Playtech Poker Revenue Down 20 Percent
Real cash online poker play activity over the past week was down 2 percent. Among the top 10 sites, decliners outpaced advancers seven to three.
Playtech Wants New US Partner in Bid to Lead Internet Poker Sector
Playtech, one of the leading software providers for the online gambling and Internet poker sector, revealed Tuesday it was in talks with a number of potential partners to begin offering legalized Web gambling in the United States.
iPoker Network Latest to Change Rake Structure
The world’s number three largest real cash online poker network has announced its plans to change the site’s rake structure beginning in March.
iPoker Network will be shifting from a dealt distribution to a weighted rate.
Bet24 Poker Signs on 7 New Pros
Scandinavian online poker room Bet24 has brought on 7 new pros, one of whom has won more than $1 million in live tournaments thus far.
Bet24 appears to be following a similar model as that of Lock Poker, a Gambling911.com marquee sponsor that has bucked the past year’s trend by developing its professional player team while other competing sites continue cutting back.
Scientific Games Shares Fall 10 Percent: Relationship With Playtech Turbulent
Scientific Games Corp (Nasdaq: SGMS) witnessed a sharp decline in its share price on Monday following reports it may be ending a joint venture with Playtech, one of online gambling’s leading software providers and poker networks.
eGaming Review claimed the joint venture between the two was reduced to a "strategic partnership" from a full-blown joint venture. More news was forthcoming.
PartyPoker Pulls Away From The Pack
For the first time in a long time, PartyPoker has built a solid lead over closest rival the iPoker Network.
For the past six months, the two rooms have alternated between the number two and number three spots in terms of global traffic.
Kicking off this week, Party now holds a comfortable lead, averaging close to 600 more real cash players than iPoker on average.
No Misconduct in Washington D.C. Online Poker Vote
The D.C. inspector general has determined that there is insufficient evidence” of any D.C. Council members “acted improperly or violated standards of conduct” as part of their vote to legalize online poker in the district. The Washington Post revealed these findings.
The Kahnawake Gaming Commission 80 Percent Success Rate: No Mention of UB.com
The Kahnawake Gaming Commission (KGC) this week boasted about their impressive 80 percent success record for complaint resolution. That left many a poker player scratching their respective heads. UB.com and Absolute Poker, which was forced out of the US market last April following a series of US Justice Department indictments ranging from conspiracy to money laundering, has yet to pay any of their US-based customers. Company bank accounts were also froze as a result of the investigation.
Zen Entertainment Adds New Suite of MAC and PC Compatible Browser-Based Applications
Zen Entertainment (ZEN) has announced that its brand partners, including South Point Casino’s South Point Poker website, can now offer their customers the opportunity to play through a new suite of MAC and PC-compatible browser-based applications. The network is expected to become iPad compatible in the coming weeks.
Poker News: Zynga Shares Up 6.1 Percent on News of ‘Real Money’ Play: Reid i-Poker Insertion Plan
The world’s largest online poker room, Zynga, witnessed a 6.1 percent surge in its share price on Friday following news it was in talks with another party to provide a “real money play” platform. Zynga, which also produces popular games like Farmville, is currently free to play on Facebook.
Zynga already claims to have some 30 million monthly users.
A statement released by the company on Friday read:
PartyPoker.com, Moneybookers Named in MegaUpload Piracy Indictment
For an industry rattled by US Justice Department domain seizures in recent years, it may not have been too much of a shock seeing PartyPoker.com mentioned as part of the much publicized indictment of video and image hosting website, Megaupload.com. The site was taken down by US authorities on Thursday with principles in the company charged with conspiracy.
Poker News: Zynga in Talks to Offer ‘Real Money’ Poker, MSNBC on UB.com Player Plight
Here is a recap of poker news headlines as we head into the Friday afternoon hours January 20, 2012. Among the headlines, the mainstream press is now taking notice of a lawsuit filed against UB.com while Zynga confirmed it is in conversations with other parties to offer “real money” online poker.
Power Struggle at Wynn: Another Ugly Divorce Battle
Have you all been following the power struggle at Wynn Resorts Inc?
It seems their largest shareholder, Japanese pachinko mogul Kazuo Okada, recently nominated up to four people to the board of the U.S. casino company. He is currently suing founder Steve Wynn and accuses the Vegas casino titan of blocking access to records related to his investment in the company as well as objecting to an “inappropriate” $135 million company donation to the University of Macau.
Ladbrokes Buys Stakes in US-Based Stadium Technology Group
One of the United Kingdom’s largest bookmakers has bought a 65 per cent stake in US-based Stadium Technology Group, which specializes in sports betting technology and is used by a number of Las Vegas sportsbooks.
“The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence,” said Richard Glynn, Ladbrokes’ chief executive. “Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand.”
US Attorney Still Bowing to Full Tilt Poker, Pixie Dust Fairies
We at Gambling911.com simply cannot take it any more and apparently neither can much of the rest of the online poker sector.
After months of reporting that a white knight had come to the rescue of Full Tilt Poker players who have been waiting upwards of nine months to get paid and how that white knight was supposedly going to set the US Feds straight by entering into some type of deal to ensure players get paid as two of its executives remain on the lam, the industry is finally coming to its senses and refraining from publication of such banter.
Forbes: Online Poker Would be Huge for Zynga
Forbes.com published a report Wednesday afternoon suggesting that legalized online gambling, specifically online poker, would be huge for Zynga. Its free Texas Hold’em product is the biggest in the world.
Following its Initial Public Offering just a few weeks ago, Zynga’s stock performance has failed to impress.
