Gambling Companies

Caesars Receives Notice of Default From UMB Bank

Caesars Entertainment Corp. said on Monday that its main operating unit received a notice of default from UMB Bank last week at a time when the gambling firm is seeking creditor approval for a potential real estate investment trust plan.  Caesars called the UMB claims “meritless”.

Fanduel Joins Forces With Lakers, Draftkings the Broncos and PlayMLF Golden State

It’s been an active week for the fantasy sites teaming up with professional sports teams.  We’ve seen FanDuel.com cut a deal with the LA Lakers, Draftkings join forces with the Broncos and PlayMLF.com partnering up with the Golden State Warriors. 

New York Post: Meet the Man Who Makes Six Figures Off Fantasy Sports

“It was the craziest thing,” 24-year-old Brooklynite Mark Guindi tells the New York Post. “I wake up one day, put up a $25 entry fee, and I make 12,000 bucks.”

Amaya, PokerStars Parent, Posts Record Profit for 3rd Quarter

MONTREAL – (Canadian Press) - Amaya Gaming Group Inc. posted record results in the third quarter as its revenues and adjusted profit surged following the August acquisition of PokerStars and other online games.

The Montreal-based company (TSX:AYA) beat expectations as its adjusted profit increased 10-fold to nearly $70 million, or 43 cents per share for the period ended Sept. 30. That compared to $6.8 million or seven cents per share a year earlier.

Macau Still Hurting in November

Macau gambling revenues appear to be stagnant in the month of November so far following a poor performance in October.

Vice: Online Gambling has Made Many in Gibraltar Very Rich

Vice Media has just got through visiting the British overseas territory of Gibraltar, surprisingly now the fastest growing economy in all of Europe with an unemployment rate around 6 percent.  Much of this can be attributed to the online gambling sector.

Japan's Gambling Bill Stalls Following Political Unrest

The push to legalise casino gambling in Japan has stalled once again following a fresh batch of political scandals. Despite Prime Minister Shinzo Abe's desire to have the industry regulated before the end of 2014, it now seems that a new gaming bill won't be passed until the start of 2015 at the earliest.

Taj Mahal to Close in December

(Associated Press) - THE OWNER of the struggling Trump Taj Mahal Casino Resort filed court papers yesterday saying it will close by next month, making it the fifth of the city's 12 casinos to shut down this year.

Trump Entertainment Resorts said in a Delaware bankruptcy court filing obtained by The Associated Press that its board has approved a shutdown of the casino by Dec. 12. It had threatened to close by then if its main union didn't drop its appeal of a court-ordered cost-savings package.

Connecticut Could See Third Casino

UNCASVILLE, Conn. (Associated Press) — The tribal authority that runs the Mohegan Sun and rival Foxwoods Resort Casino could join forces to operate a third Connecticut casino near the Massachusetts state line to compete with new casinos opening in the Bay State, its chief executive said.

Mitchell Etess, chief executive officer of the Mohegan Tribal Gaming Authory, told The Day of New London it's "very easy" to see a solution drawn up by the Connecticut legislature.

Bwin.Party Confirms Takeover Talks

(Reuters) - Online gambling company Bwin.Party said on Wednesday it was in early talks with a number of parties over a "variety of potential business combinations", which could result in an offer being made for the firm.

Shares in Bwin.party, which made the statement in response to recent media speculation, jumped almost 17 percent on the news to 126 pence.

The company has faced pressure from U.S. activist investor Jason Ader's Spring Owl vehicle to shake-up its board, improve its growth strategy and reduce infrastructure costs.

Caesars Shares Plunge on News of 3Q Losses

Caesars Entertainment Corp. on Monday reported a wider 3^rd quarter loss than what had previously been expected. The Las Vegas-based company has not been profitable since 2009.

Caesars reported a loss of $908.1 million, or $6.29 per share, for the July-September period. It posted a loss of $761.4 million, or $6.03 per share, in the same months last year.

Dan Bilzerian Plays Poker With Mini Me, a Gorilla

Poker playboy Dan Bilzerian recently teamed up with Mini Me star Verne Troyer (“Austin Powers”) and a tuxedo-wearing gorilla named Gerald to shoot a commercial for the online casino group BGO.com.

William Hill Bookmaker Under Investigation: Denies Unlawful Activity

Britain’s biggest bookmaker, William Hill, has voluntarily suspended one of its call centers following the launch of an investigation into alleged unlawful activity.

The Philippines National Bureau of Investigation will conduct the probe at the Manila center.

The bookmaker insists it has not engaged in any unlawful activities.

MGM Posts Narrower Losses

(Reuters) - MGM Resorts International posted weaker-than-expected bottom-line results for the third quarter, injure by lower revenue at its China operations.

Shares fell 3.9% to $22 in recent premarket trading. The company has seen traffic increase at its Las Vegas hotels and casinos and has generally done well in Macau. Beyond these core markets, MGM Resorts, like its rivals, is looking to broaden its market in to Japan following momentum in the country toward legalized gambling.