Gambling Companies
Gambling Companies, Gambling Stocks
Revel Casino Bankruptcy Hearing Postponed Until Next Week
ATLANTIC CITY – (Associated Press) - The bankruptcy auction of the troubled Revel casino hotel, which had been scheduled for Thursday, has been postponed until next week.
Lawyers for the casino said in a court filing Wednesday night that they had received multiple bids for the casino by Monday's deadline and needed additional time to review them.
The auction was rescheduled for 9 a.m. next Thursday.
Atlantic City Mayor Don Guardian said last month that there were six potential buyers for the casino, but none of the potential bids have been outlined.
Las Vegas Sands Shares Fall Fast Wednesday on Macau Worries
Las Vegas Sands entered “oversold” territory Wednesday, according to Forbes.
Seminole Hard Rock Joins Forces With PokerStars
The Seminole Hard Rock Casino in Hollywood, Florida has partnered with the largest online poker room PokerStars for its Seminole Hard Rock Poker Open Championship (SHRPOC) series.
PokerStars players now have the opportunity to buy into the SHRPOC Main Event via their online account.
The Hard Rock event runs from August 14 thru September 3 and features a $10 million guaranteed event and a $100,000 Super High Roller event.
The entire Seminole Hard Rock Poker Open Championship 2014 schedule appears below.
Trump Sues to Get Name Off of Atlantic City Casinos Including Taj Mahal
ATLANTIC CITY – (Associated Press) - Donald Trump is suing an Atlantic City, New Jersey, casino company, trying to force it to drop his name from its two gambling halls.
Trump tells The Associated Press he wants his name stripped from the Trump Plaza and the Trump Taj Mahal because their owner, Trump Entertainment Resorts, has failed to maintain them properly.
Trump says in a lawsuit filed Tuesday the poor condition of the casinos is hurting his personal brand.
Trump Entertainment Resorts has declined to comment.
SBOBet.com Center of Paul Phua World Cup Betting Probe: Not Guilty Pleas Entered
Poker pro Paul Phua and his son Darren appeared in a federal court on Tuesday to answer to charges they ran an illegal gambling business out of the $25k a night Caesars Palace villas via the popular Asian handicapping betting site SBOBet.com. Phua and six others are set to be arraigned on August 7. The father-son-tandem may be deported back to their native Malaysia. Both men pleaded not guilty on Tuesday.
Bally Technologies One of the Darlings of the NYSE Friday: Share Price Skyrockets
Bally Technologies Inc. was up $17.53 to $77.70 Friday and was one of the biggest movers on the New York Stock Exchange.
The gambling equipment maker is being bought by rival Scientific Games Corp. in a deal worth $5.1 billion, including debt.
Bally shareholders will get $83.30 a share, representing a 38% premium to the stock's closing price on Thursday.
Based in Las Vegas, Bally Technologies makes slot machines, video lottery systems, table games and other products.
Amaya Gaming Completes Acquisition of PokerStars
MONTREAL - Amaya Gaming Group Inc. (TSX: AYA) ("Amaya" or the "Corporation") announced today the completion of its previously announced acquisition of 100% of the issued and outstanding shares of privately held Oldford Group Limited ("Oldford Group"), the parent company of Isle of Man-headquartered Rational Group Ltd.
Borgata Posts Quarterly Loss for Online Poker in New Jersey
The Borgata Hotel and Casino in Atlantic City, partnered with bwin.party, has posted a quarterly operating loss of $1.8 million for the period of June 30.
It did, however, reach a “key milestone” by breaking even during the month of July.
The Borgata and bwin.party were widely seen as having gotten off to the strongest start in the newly opened New Jersey online gambling market through aggressive ad campaigns. Ongoing payment processing issues, particularly with a high credit card decline rate, have stymied growth since that time.
Paddy Power Suffers Massive Data Breach: More Than 649,000 Customers Compromised
More than 649,000 customers of the UK’s third largest bookmaker, Paddy Power, have had their personal information stolen, it was revealed on Thursday. Of those, approximately 120,000 are based in Ireland.
No customers who signed up after 2010 are impacted by the breach.
Numis: William Hill, Paddy Power Should Merge
Broker Numis on Monday suggested that two of the UK’s biggest bookmakers should merge in an effort to offset negative regulatory changes.
“This would create a much more attractive investment than either alone,” Numis said.
“Taking the best from each company would result in a business with outstanding technology and marketing. Plus, we really like Will Power as a name for the company.”
Nevada Gaming Revenue Up 22 Percent
LAS VEGAS (Associated Press) -- Nevada officials say casino revenues shot up more than 14 percent in June thanks to a banner month on the Las Vegas Strip.
The state Gaming Control Board reported Friday that Nevada casinos brought in about $907 million in June.
Las Vegas Strip casinos pulled in $532 million in June, up more than 22 percent from the same month a year ago. Downtown Las Vegas casino revenues of $41million were up 12 percent.
Showboat Casino Employees Protest Closing
ATLANTIC CITY – (Associated Press) - Chanting “Keep Showboat open,” hundreds of casino workers and supporters staged a noisy, enthusiastic protest Thursday night on the Atlantic City Boardwalk aimed at getting the owners of the Showboat Casino Hotel to reverse their decision to close it next month.
More than 400 protesters marched from a small park near the Boardwalk to Caesars Atlantic City, where a small group met with a labor attorney for the parent company that owns both casinos.
5Dimes Becomes Latest Online Sportsbook to Accept Bitcoin
Popular 5Dimes.com, a US-facing online sportsbook, has become the latest to embrace the anonymous digital currency bitcoin.
5Dimes began accepting bitcoin deposits early this month but withdrawals via this method will be unavailable for the foreseeable future.
Bitcoin will be converted into US currency at the time of deposit as, as such, customers will not be exposed to fluctuations in bitcoin’s exchange rate.
Over the past month, bitcoin has traded slightly above $600 on average across the various exchanges.
Matchbook.com Exits Canada Market for Unknown Reasons
Canadian customers of the sports betting exchange Matchbook.com have been advised that they must withdraw all funds from their accounts by August 22 (2014).
The decision was made on Wednesday (July 23) to exit the Canadian market though rumors began swirling earlier in the week. A reason for the departure was not immediately known.
Revel Casino has Six Potential Buyers: May Avert Closure
ATLANTIC CITY, N.J. (Associated Press) - Atlantic City's mayor said Wednesday there are six potential buyers for the Revel Casino Hotel, which is up for sale next month at a bankruptcy auction.
Don Guardian also said his administration has been in talks with the current owners of the former Atlantic Club casino about selling it to a new buyer.
Fuggedaboutit Jason Ader: Four Reasons Why Vegas Won’t Get an MLS Team
As reported by Gambling911.com during the early morning hours of Wednesday, Bwin.party activist investor Jason Ader has announced his plans to bring a Major League Soccer franchise to Sin City.
Mississippi Gambling Revenue Steady After Harrah’s Closure
JACKSON, Miss. (Associated Press) - Gambling revenues tumbled in Mississippi's river region in the first month after Harrah's Tunica Hotel & Casino closed, but the trend didn't worsen much. Meanwhile, Gulf Coast casinos posted their best June in years.
State figures show casinos statewide won $174 million from gamblers in June, up less than 1 percent from June 2013.
The 18 river casinos won $78.7 million, down 12 percent from a year earlier. The 12 coastal casinos won $95.7 million, up 13 percent from June 2013.
Bwin Activist Investor Jason Ader Wants to Bring Major League Soccer Team to Vegas
An activist investor at one of the world’s largest online gambling firms Bwin.party is floating the idea of bringing a Major League Soccer team to the gambling Mecca of Las Vegas.
WSEX.com Founder Jay Cohen Assets Sought Ahead of Possible Lawsuit
Gambling911.com intrepid reporter Thomas Somach has learned that an Ohio man who plans to sue now defunct World Sports Exchange (WSEX.com) founder Jay Cohen for almost $70,000 owed plans to hire an investigative team to locate the ex-convict’s assets believed to be hidden around the world.
Cohen served nearly two years behind bars for his role in running World Sports Exchange. Last year, co-owner Steven Schillinger gave new meaning to the term “deadbeat” when he blew his brains out, at the time owing countless numbers of customers well over a million dollars.
Sands Sees Slower Than Expected Earnings: Shares Sent Reeling
Sands Las Vegas reported slower-than-expected revenue growth from its Macau operations resulting in second-quarter adjusted earnings that were $0.04 below the consensus of $0.89.
Sands traded recently at $73.02, down about one percent.
The casino company’s competitors shares were adversely affected as a result of the poor performance.
Wynn Resorts was down 1.4 percent Thursday. Wynn is expected to post second-quarter earnings in August of $1.97 per share on revenue of $1.44 billion.
Melco Crown Entertainment was also down 1.4 percent.
Online Poker Comes to California Courtesy of Iipay Nation
Forget waiting around another 10 years for online poker to become legalized in the world’s 8th largest economy. One California Tribe is moving ahead, with or without legislation.
The Iipay Nation of Santa Ysabel established Santa Ysabel Interactive and launched the I-gaming poker website Private Table at www.privatetable.com to offer Class II gaming to customers through Internet servers located on tribal lands, according to a press release issued by that Tribe.
Another One Bites the Dust: Trump Plaza Latest AC Casino to Close
They are falling like dominoes. Yet another Atlantic City has announced its intention to shut down. This time it’s the Trump Plaza.
Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors on Sept. 16, immediately following the busy summer season.
Industry observers had predicted that the seaside gambling resort could lose as much as one quarter of its casino properties by year’s end.
Las Vegas Sands Sued for $5 Billion: Accused of Misappropriating Funds
HONG KONG — (Reuters) A former Macau business partner of Las Vegas Sands Corp. accused the casino operator of misappropriating trade secrets and is suing the company for at least $5 billion in profits that it says are owed via their joint ownership of copyright related to a casino license bid.
Asian American, headed by Taiwanese businessman Marshall Hao, filed the complaint in U.S. District Court in Nevada on Wednesday. The case is in addition to two separate, ongoing legal actions in Macau over an alleged breach of contract.
Ultimate Poker Leaving New Jersey Market?
It’s no secret that online poker in the state of New Jersey has underperformed.
Ultimate Poker, one of a handful of online gambling firms licensed by the New Jersey Gaming Commission, announced on Friday September 19, 2014 it would be leaving the New Jersey online gambling market after the Taj Mahal announced pending bankruptcy.
Robert Dellafav of OnlinePokerReport.com predicted the exit earlier this summer.
888 Holdings Forecasts Strong Earnings: Shares Rise 5 Percent
Shares in 888 Holdings rose 5 percent Wednesday on news that it was expecting a significant surge in interim earnings.
Little additional information was provided by the FTSE 250 company other that saying “continued to deliver a very strong performance and anticipates announcing ebitda for the period significantly ahead of the comparable period in the prior year”.
Maryland Casinos See 8.4 Percent Increase in Gambling
(Associated Press) - Maryland's casinos are reporting gambling revenue of $72 Million for the month of June, up 8.4 percent from the same period last year.
Numbers released this week by the state Lottery and Gaming Control Agency show that the Maryland Live casino near Arundel Mills mall accounted for $56.5 million of the total, an increase of 10 percent from last June.
Rocky Gap Casino Resort in Cumberland reported the largest year-over-year increase, with gambling revenue up 50 percent compared to last June.
Breaking News: Amaya Considers London, New York for Secondary Listing
(Reuters) - Canada's Amaya Gaming Group Inc is working towards a secondary listing, either in London or in New York, the online gambling company's head told the Times on Saturday.
The company was weighing the benefits of a dual listing, but had not finalised which city it would be in, the daily quoted Chief Executive David Baazov as saying.
Amaya Gaming could not immediately be reached for a comment outside of regular business hours.
How Regulated Gambling Can Boost the Economy
In recent years, there has been a lot of focus on the potential impacts of a legalised worldwide gambling market. As more and more countries and U.S. states start to regulate the market to their residents, there have been calls from both critics and supporters of its possible effects.
One major argument for supporters is the major boost real-money gaming can provide to the economy. Since back in 1850, when gambling was legalised in Macau, governments have been reaping the benefits of a licensed gaming industry.
Aria Ordered to Pay $100k for Barring Agents
LAS VEGAS – (Associated Press) - A Las Vegas Strip casino has agreed to pay $100,000 to settle allegations that a supervisor shooed away state agents who were watching a high-stakes roulette table, even though state law requires all gambling to be open to the public.
The Nevada Gaming Control Board released the proposed settlement with Aria Las Vegas this week. The agreement must be approved by the Nevada Gaming Commission.
