Gambling Companies
Gambling Companies, Gambling Stocks
Amaya Agrees to Acquire PokerStars, Full Tilt Poker for $4.9 Billion
MONTREAL, CANADA & ONCHAN, ISLE OF MAN –Amaya Gaming Group Inc. (TSX: AYA) (“Amaya” or the “Corporation”) and privately held Oldford Group Limited (“Oldford Group”), the parent company of Rational Group Ltd.
Can Casinos Save Detroit?
Detroit's shaky foundation of recovery may be backed by placing bets behind its local casinos. A trial to approve Detroit's plan to exit its $18 billion bankruptcy, the largest municipal crash in U.S. history, begins in late July. Revenue projections needed to stave off bankruptcy may be too ambitious. Even though Detroit gambling taxes are a stable source of money, casino revenue has declined recently in Detroit in the face of competition with traditional gambling hubs like Nevada and New Jersey as well as relative newcomers to the wagering scene.
Dubai Businessman Iraj Parvizi Sues Les Ambassadeurs Casino for Allowing Collusion
A Dubai-based businessman, Iraj Parvizi is suing London’s Les Ambassadeurs Casino for failing to prevent collusion and cheating in its establishment.
And the amount he is suing for?
£10,000,000.
The 48-year-old was a regular in weekly high stakes cash games held at the casino until he lost £185,000 in one session and refused to pay back for the chips he received on credit.
New Jersey Clarifies Online Gambling Affiliate Arrangements
The New Jersey Division of Gaming Enforcement has expressed the importance of affiliate relations to the growth of its state-run online gambling industry. On Tuesday, it sought to clarify the types of relationships and activity said affiliates can and cannot engage in.
IGT Seeking Sale: Shares Hit Five-Year Record High
News that International Game Technology (IGT) is potentially seeking a buyer resulted in shares reaching a five-year high on Monday. Morgan Stanley has been brought on to assess a sale of the slot maker’s business.
The shares rose 14 percent to $14.31 at the close in New York Monday, the biggest one-day gain since April 3, 2009. The stock had fallen 31 percent this year through June 6.
James Henderson Expected to Replace Outgoing William Hill CEO Ralph Topping
Online bookmaker William Hill is set to replace outgoing CEO Ralph Topping with the company’s current Director of Operations James Henderson, according to media reports that circulated over the weekend.
The firm downplayed rumors Monday morning, however, telling EGR Magazine they have yet to make a definitive decision.
Replacing Topping has been a priority for William Hill since announcing his retirement earlier in the year. He has been CEO of the UK’s biggest bookmaker since 2008.
BetFred.com Pulls Out of Germany, Canada, Most Other Markets Ahead of World Cup
Not the best timing as the FIFA World Cup is set to begin this week but BetFred.com customers from variously countries across the globe were advised this weekend they can no longer bet online with the company.
PokerStars Wants All-in With California Online Poker: Responds to Tribes
As Gambling911.com reported Tuesday, California’s 13 tribes have reached an agreement to allow real money online poker in the state after five years of standoff. But it seems the closer some groups come together, the further others end up apart.
Dreyfus Announces American Poker Awards to be Held in LA
Global Poker Index (GPI) head Alex Dreyfus has announced the first annual American Poker Awards.
The event will be held in Los Angeles, California, at the SLS Hotel in Beverly Hills on February 27, 2015.
The event looks to celebrate the poker industry and help develop the game worldwide by bringing some of the biggest names in the industry together.
"I think we are at the eve of a new boom," Dreyfus told PokerNews explaining how he believes this to be "the perfect time" for an initiative like the American awards."
Macau Gambling Revenue Up 9.3 Percent
HONG KONG – (Reuters) - Macau, the world's casino capital, raked in 32.35 billion patacas (US$4.05bil) in gambling revenue in May, boosted by robust demand from Chinese visitors keen to bet in the country's only legal casino hub.
Growth in Macau, a special administrative region like neighbouring Hong Kong, was up 9.3% in May, lagging analyst estimates of 13-15%.
William Hill Nasal Strips to be Handed Out for Belmont Stakes
The UK’s biggest bookmaker William Hill will be offering its own branded nasal strips at betting shops in honor of this year’s Belmont Stakes race and the next Triple Crown winner (wishful thinking perhaps) California Chrome. ESPN's Darren Rovell first reported on the most unusual offering.
Why nasal strips?
Forbes: Sheldon Adelson Winning His War Against Online Gambling
Forbes.com’s Nathan Vardi argued on Tuesday that casino billionaire and mega GOP donor Sheldon Adelson is now winning his war against Internet gambling.
It was a war mounted last fall that included slickly produced so-called public service messages coupled with lobbying efforts from some big name former politicians the likes of one time New York Governor George Pataki and former Arkansas Democratic Sen. Blanche Lincoln.
Poker Players Set to Rake in Winnings With $50,000 up for Grabs at BetOnline.ag
Responding to requests from their poker player base, BetOnline.ag have decided to re-run the $50,000 Single Table Tournaments, with a $50,000 prize pool at stake, and two chances to claim it, in the month of June 2014. Clearly this promotion proved to be highly popular with their players, and BetOnline.ag is only too happy to oblige, as they feel it is great to get such positive feedback.
Atlantic Club Casino Purchased by Florida Company TJM
ATLANTIC CITY, N.J. (Associated Press) — A Florida company bought the former Atlantic Club Casino Hotel on Thursday, and plans to operate it as a non-gambling facility.
TJM Properties paid an undisclosed sum for the casino and its 800-room hotel, which shut down in January.
It is the second acquisition this year of a former Atlantic City casino that the company plans to run as a non-gambling facility. In February, TJM bought the 500-room hotel portion of the former Claridge Hotel Casino, which was part of the Bally's Atlantic City casino, for $12.5 million.
Facebook Will No Longer Offer Real Money Bingo, Slots Friendzy App
London-based operator Gamesys has informed its players that Bingo & Slots Friendzy will no longer be available on the social network according to eGaming Review Magazine.
Macau Scraps Bill on Big Payouts Following Record Protests
(Reuters) - The top official in Macau, the world's gambling capital, said on Thursday a bill providing lavish perks for senior civil servants would be withdrawn days after the largest protest in the enclave since China restored control over it in 1999.
The climbdown represents the first time the government has taken heed of a large civic movement in Macau, a former Portuguese territory with autonomy and provisions for free speech much like neighbouring Hong Kong.
Massachusetts to Award First Casino License, Nevada Casino Revenue Flat in April
BOSTON (Associated Press) -- State gambling regulators say they'll begin the final, four-day long deliberation on awarding Massachusetts' first Las Vegas-style casino license on June 10.
The Massachusetts Gaming Commission said Thursday that the June 10 and 11 meetings will be in Springfield, the June 12 meeting in Boston and a June 13 meeting - when it is expected to issue a decision - will be in Springfield.
Churchill Downs, Showboat Hotel Online Gambling Lawsuit Moved to NJ Court
As if things couldn’t get any worse in the Garden State for its new online gambling industry, Churchill Downs and Atlantic City’s famed Showboat Hotel and Casino are embroiled in a lawsuit over a vendor agreement.
Churchill Downs had entered into a deal to purchase the Showboat Hotel.
NLR Entertainment owner Nicholas Ribis was paid $2.5 million as “earnest money" by Churchill Downs to be the exclusive vendor of NLR for the period 2014 until 2021.
Waddell & Reed Buys 16.96 Million Las Vegas Sands Shares
HONG KONG (Reuters) - U.S. fund manager Waddell & Reed Financial Inc said Wednesday it raised $1.38 billion by selling its remaining stake in Macau-based Sands China Ltd, and shifted most of its holdings to parent Las Vegas Sands to boost its global gaming exposure.
The sell-down comes as Macau gaming stocks face pressure due to a raft of negative news, after clocking a scorching pace of growth over the past two years.
Online Poker Processor Rat Daniel Tzvetkoff Will Likely Avoid Prison
The man who brought down PokerStars and Full Tilt Poker’s businesses in the US is not likely to receive any jail time.
Bitcoin-Only Casino Generates Over $1.4 Mil in Turnover in its First 3 Months
BitCasino.io, the first ever licensed bitcoin-only casino has grown to a player base of 7,000 users betting over 3,000 BTC (~$1,400,000) since February 2014. The success of the casino has been built around its world-class software that includes Live Dealers, Live Dice/Lottery and over 150 HD video slots as well as traditional table games.
Amaya Gaming Looks to Calm PokerStars Acquisition Rumors
Amaya Gaming’s share price rose 5% on rumors that it was in pursuit of a possible acquisition. The main target appears to be the world’s largest online poker room, PokerStars. Such a move would allow Stars to re-enter the US market on a clean slate.
The company was forced to issue a response Monday afternoon.
Online Poker May Not be in the Cards for California After All
California’s tribal casinos remain at odds as to whether they want to legalize online poker in the state.
Hard Rock Casino Ban of Ben Affleck Could Prove to be Big Mistake
Professional gambler and Pittsburgh Gazette columnist Mark Gruetze believes that the Las Vegas Hard Rock Casino’s recent decision to ban Hollywood actor Ben Affleck from playing blackjack in their establishment could backfire.
888.com CEO on Internet Gambling in NJ: ‘We Are Absolutely Shocked by Slowness'
Brian Mattingley, chief executive officer of London- based 888, said in a telephone interview with Bloomberg News this weekend, “We are absolutely shocked by the slowness of the (New Jersey online gambling) market.”
And he’s not the only one.
New Jersey casinos are in the process of shifting their marketing focus from poker to the online casino, which traditionally has been the cash cow for internationally based Web betting firms.
American Gaming Association Drops Support for Online Gambling in US
American Gaming Association chief executive Geoff Freeman said in an interview with the Wall Street Journal Wednesday that his Las Vegas-based organization will no longer support legalization of online gambling in the US, citing a nasty split between casino operators on both sides of the issue.
"One of the things I've learned in this industry is we are extraordinarily competent at shooting at one another," he said. "The snipers in this industry are of the highest quality, and if you let that be the focus, we'll kill each other."
Sheldon Adelson Insists He is Not Retiring: Right Hand to Step Down
80-year-old Las Vegas Sands Corp CEO Sheldon Adelson has dispelled rumors that he will be retiring any time soon following in the steps of 76-year-old President and COO Michael A. Leven, who announced his retirement this week.
Online Bet Startup Costs Shrink AC Casino Earnings
ATLANTIC CITY, N.J. (Associated Press) - Startup costs associated with Internet gambling, and the closure of one casino in January lowered Atlantic City's casino earnings by 8.4 percent in the first quarter of this year compared to the same period in 2013.
Figures released Thursday by the state Division of Gaming Enforcement showed the casinos had a gross operating profit of $38.7 million.
Las Vegas Casino Strike Planned to Begin June 1
LAS VEGAS (Associated Press) - Hotel workers and bartenders plan to strike at nine downtown Las Vegas casinos next month if contracts aren't reached, labor leaders announced Wednesday.
Officials with the Culinary and Bartenders unions said employees are prepared to walk off the job at 5 a.m. June 1 at The D, Four Queens, Fremont, Main Street Station, El Cortez, Binion's, Golden Gate, The Plaza, and Las Vegas Club.
Global Poker Index to Launch Free Magazine in US to Compete With Card Player
In less than 5 days, the 45th annual World Series of Poker will begin with 65 Events spread across 7 Weeks. The whole poker world will attend - either to play or simply follow the action. Once again, Global Poker Index will be Official Partner and have a booth.
