US Financial News
US Financial News and Odds on the US Economy
Californians Watch Battle Over Online Sports Betting
Daily television ads are bombarding Californians to choose a side on an upcoming vote on two online sports gambling propositions: 26 and 27.
Economic Odds for Dow, Oil, Gas and Ukraine Joining the EU
Due to the war raging between Russia and the Ukraine, economies worldwide have endured a massive impact.
Only 45% of US Population are Aware that Federal Ban on Gambling Lifted
A recent survey on the current attitudes towards online gambling in the US has revealed that less than half of the population are aware of the 2018 US Senate ruling.
Expanded Gambling in Florida Approved by Senate
(Associated Press) - Florida could soon become home to more casinos and hundreds of more slot machines under a sweeping gambling bill that was easily passed Thursday by the state Senate.
E-Sports Explosion Leads to E-sports Wagering
Many North American sports gambling fans have a notion stuck in their head that the NFL season is basically the only time of the year worth wild to make wagers.
Cole Hamels DFS Outlook – April 9: Solid Versus Angels
Cole Hamels DFS outlook for this coming Saturday April 9 versus the LA Angels is good as he has pitched well against the opposing top batters.
Yunel Escobar for example is just .172 vs. Hamels.
The doors of the former Revel Casino of Atlantic City will reopen!
That is some surprising news. The most expensive hotel-casino of Atlantic City, that cost $2.4 billions to build, is going to reopen some of its parts. Shut down in September 2014, the former Revel Casino may not be completely dead yet.
Located at the end of the Bordwalk in AC, the Revel Casino was the most expensive casino in the city. The story began in April 2, 2012 when the casino opened its doors for the first time.
Yahoo Shares Fall 1.17 Percent on News of New York AG Subpoena
News of a subpoena issued by the New York Attorney General Wednesday as part of a probe into the Daily Fantasy Sports sector has resulted in a drop in its share price of 1.17 percent to $32.47 in afternoon trading.
StockBattle.com Fantasy Trading Site Shuts Its Doors After SEC Threat
StockBattle.com, a fantasy trading site based on the daily fantasy sports contest business model, has been forced to shut down following a warning by the Securities and Exchange Commission.
Ladbrokes Posts 9 Percent Fall in Profits
(Reuters) – Ladbrokes (LAD.L), Britain’s second biggest bookmaker, said it intended to maintain its dividend in 2015, defying some analysts' expectations of a cut to help fund marketing costs, as it posted a 9 percent fall in annual profit.
The firm has struggled to keep pace with rivals such as William Hill (WMH.L) and establish itself in a growing online sector, with investment in marketing and product lagging others.
Bitcoin-Only Online Poker Room Seals With Clubs Closes After ‘Sledgehammer’ Raid
The largest of the Bitcoin-only online poker rooms, Seals With Clubs, has unceremoniously closed its doors following a raid of CEO Bryan Micon’s Nevada home.
MGM Shares Plummet: Morgan Stanley Says ‘Worst is Over’ for Macau Gaming
Casino stocks were not immune to Monday’s steep drop across all markets. MGM Resorts reported a decline of 1.6% to $20.68 in trading due primarily to disappointing gambling results in Macau last month.
Last year’s results were the worst decline since the Chinese government liberalized the gambling enclave in 2001 with a 30.4% drop-off.
Pay Per Head Solutions for Bookies, Agents
PayPerHeadAgents.com is a wholesale reseller of per head solutions that will satisfy all of an agent and bookie’s customers gambling needs.
Canada Foreign Online Gambling Licenses Could Be Coming Soon
In Canada, all online gambling issues are handled on the provincial level. What this means is that the federal government doesn't have much say in what goes on, and as an industry, the goal is to use it to pad provincial revenue figures. One problem with this approach is that foreign operators who are not licensed by the provinces and who are not paying provincial taxes are able to operate more or less freely while the province-operated games suffer.
California Tribe Begins Offering Online Gambling in New Jersey
ATLANTIC CITY — (Associated Press) - California's Pala Indians became the first tribe to offer Internet gambling in New Jersey on Wednesday.
The Pala Band of Mission Indians began a test of their PalaCasino.com site. The tribe's online gambling arm, Pala Interactive, is partnered with Atlantic City's Borgata.
The company expects a full launch of the site on Monday, once it gets approval from the state Division of Gaming Enforcement. It will include more than 90 games and a daily free spin on a slot game.
Caesars Looming Bankruptcy: Can’t Make Debt Payments
Caesars Entertainment Corp confirmed in a regulatory filing that it is contemplating bankruptcy as it will be unable to repay debts by the fourth quarter of 2015 without restructuring.
Reaction to Adam Silver Sports Betting Stance is Mixed
Gambling911.com has been bringing its readers extensive coverage of NBA Commissioner Adam Silver’s about-face on legalized sports betting. The reaction has been a mixed bag as one might expect.
Atlantic City Showboat Casino Sold, Will be Turned Into College Campus
Atlantic City’s famed and now shuttered Showboat Casino has been sold to Stockton College, which plans to convert the property into a satellite campus.
Caesars Entertainment and the college announced the purchase plan on Wednesday. The sale price was not announced, nor was a target closing date released.
The End of PokerStars, Full Tilt Poker as We Know It?
News this week that Full Tilt Poker has opted not to renew the contracts of big name pros Gus Hansen and Viktor Blum may provide a glimpse of the future for FTP and its sister site PokerStars.com.
Early FanDuel Investor: ‘Fantasy Sports is Finally Mainstream, Massive’
Paul Martino is Managing Director of Palo Alto-based venture capital firm Bullpen Capital and, these days, he is most excited about his early investment in FanDuel.com, a provider of daily fantasy competitions that continues to attract considerable cash infusions, most recently a $70 million windfall from Shamrock Capital Advisors.
Bitcoin Set to Revolutionize Online Gambling
The average price of Bitcoin has settled in between $400 and $500 without the extreme upswings and downswings we witnessed earlier in the year, suggesting stabilization of the anonymous online currency.
‘Barefoot’ Exec at New York Investment Firm Pleads Guilty to Inside Trading
Michael Lucarelli, who was mocked on Comedy Central’s The Daily Show after running away barefoot from photographers last month, has plead guilty to one count of securities fraud for inside trading. He will be sentenced in January and faces up to 20 years prison time.
Lucarelli had served as a director of market intelligence at Lippert/Heilshorn & Associates prior to being charged last month.
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.
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.
Borgata to Pay Out $1,721,805 to Affected Players in Chip Scandal
The Borgata Casino will pay out $1,721,805 to those affected by a scandal earlier in the year in which fake chips were detected during the Borgata Winter Open.
Spencer Bachus: 60 Minutes Segment a Hit Job
Alabama Republican Congressman and strong advocate for online gambling prohibition, Spencer Bachus, denied he engaged in any form of “insider trading”. He called a “60 Minutes” segment that suggested otherwise “a hit job”.
The segment aired on Sunday. The reporting was based on a book by conservative author Peter Schweizer called “Throw Them All Out.” Rep. Spencer Bachus (R-AL), the chairman of the House Financial Services Committee, was alleged to have traded stocks after he was told by Treasury officials in September of 2008 of the impending financial meltdown.
Absolute Poker Money Return Agreement with U.S. Department of Justice
The United States District Attorney's office has entered into an agreement with Absolute Poker/Ulimate Bet to return funds to poker players.
FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY E-GOLD
FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY
E-GOLD, LTD, TRACEABLE TO CRIMINAL OFFENSES
Baltimore, Maryland - A civil forfeiture complaint was filed today for the forfeiture of the value of all e-metal accounts recorded and maintained by e-gold, Ltd (EGL ), a company that was engaged in the business of exchanging traditional forms of currency for precious metals held in electronic form (“e-metals” or “e-gold”) and settling payer initiated transfers of e-metals from one customer account to another.
Dow Hits Lowest Point on Year
The Dow and S&P 500 hit its lowest mark for 2011 on Wednesday.
The Dow Jones industrial average (INDU) fell 280 points, or 2.2%.
Zynga IPO Could Happen in June: Company Worth $10 Billion
The popular social gaming and poker company Zynga is expected to file for an IPO some time in June, though most of the speculation is focusing on the later part of the month.
