Gambling Companies

Patriots Owner Robert Kraft Makes Out Big With Caesars IPO...And Wynn?

Among those who benefitted from Wednesday’s debut of Caesars Entertainment on the Nasdaq trading platform was none other than New England Patriots owner Robert Kraft. 

While Kraft may have suffered a pretty huge loss Sunday, his luck changed with the Caesars IPO and his $1.3 million stake.  Shares rose dramatically Wednesday afternoon. 

Caesars Begins Trading Wednesday: Goes Public and Floated with 1.4 Million Shares

Casino giant Caesars Entertainment Corp. went public on Wednesday (February 8, 2012), with its stock price surging 71 percent after completing an initial public offering.

The IPO was significantly reduced from its 2010 attempt. 

PartyPoker has Biggest Cushion Between It and iPoker Network Since Summer

PartyPoker has pulled far ahead of the iPoker Network to take firm control of the number two spot for most trafficked online poker rooms in the world.  Since the shut down of Full Tilt Poker last June, Party and iPoker have alternated between the number two and three spot.  Until recently, the highest peak difference between the two rooms was around 250 average real cash players.  

Record Breaking Run Continues at 888

LONDON (SHARECAST) - Online gaming solutions provider 888 said trading in 2012 has continued at record levels, building on the strong performance in the final quarter of 2011.

Fourth quarter revenue was up 28% to $91m from $71m in the corresponding quarter of 2010.

As at 31 December 2011, 888 had 10.6m casino, poker and sport registered customer accounts, excluding those running virtual "try before you buy" accounts, representing an increase of 22% from 31 December 2010.

Super Bowl Safety Cuts Into Sportsbook Profits

Sunday’s Super Bowl safety hurt the sportsbooks bottom line both in Vegas and across the Web. 

At MGM, one lucky sports bettor reportedly made off with $50,000 after placing a $1000 wager on the safety being the first scoring play.

And there was more. 

From Covers.com: 

South Florida Destination Resorts Casino Bill Dead

Local7 in South Florida on Friday was reporting that the bill authorizing three destination resort casinos in South Florida abruptly died in a House of Representatives subcommittee Friday morning when the bill’s sponsor, Rep. Erik Fresen, R-Miami, asked that it be temporarily postponed. 

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.

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.

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.

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. 

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. 

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 14^th largest Internet poker network in the world.

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. 

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.