US Financial News
US Financial News and Odds on the US Economy
Playboy Problems Not Stopping With Online Poker Room
The closure of Playboy's online poker room last week appears to be just the tip of the iceberg.
The famed company warned investors that it will take a write-down of goodwill and other charges amounting to more than $100 million, resulting in a net loss for Q4. The magazine publisher also expects a $4 million charge on cost-reduction initiatives, which will include an unspecified number of job cuts. The company will also fold its New York office according to reports.
"Who knew sex was a bad business to be in?" asks Belinda Luscombe of Time Magazine.
Tropicana, Trump in Trouble
If there was any doubt the recession was hurting casinos, Tuesday's news should put those questions to rest.
No Luck With Gambling Stocks
It's the Las Vegas gambling stocks that are the real losers these days, not the actual gamblers.
Las Vegas Has Further to Fall in Struggling Economy
A report in the Economist this past week suggests that the gambling mecca of Las Vegas may experience further decline due with a recession now in full swing.
State Lotteries Win Out During Recession
People want to make that fast buck during the current recession with nominal risk. The result has been an increase in the number of state lottery tickets purchased.
More than half of all states with lotteries have reported rising sales over the past six months, and some researchers say financial insecurity might be driving people to risk more of their money than usual on $1 and $5 instant scratch-offs and other daily games in hopes of a big payoff.
Detroit Casino Shares Up Slightly
There may be a dark cloud over Detroit's pivotal auto industry but a dim light shined over its casino industry with news Tuesday that the big three casinos revenues rose slightly.
The Michigan Gaming Control reported a rise of 1.84 percent with MGM Grand Detroit finishing the year with $578 million in revenue, MotorCity Casino ending with $464 million in revenue and Greektown Casino finishing up with $316 million.
Is Bodog Finally Starting to Get its Act Together?
Two month long payout delays, IRS threats about confiscating funds and a retired founder, Calvin Ayre, without a country - all things that have become synonymous with Bodog in recent times. The o
Taiwan to Allow Casinos on its Outer Islands
Asia has a new casino Mecca. Taiwan this weekend paved the way for casino gambling after repealing a gambling ban over 15 years ago.
Las Vegas Sands Corp a Strong Buy
The economy is struggling and Las Vegas we learn is not immune, nor is the Las Vegas Sands Corp, one of the world's largest casino ventures. But with its recent capital infusion and prospects for
UBS Closes All Offshore Accounts of U.S. Clients
ZURICH (Reuters) - Swiss wealth manager UBS AG (UBSN.VX) (UBS.N) is closing all the offshore accounts of its U.S. clients, the bank said on Friday, as it comes under pressure from U.S.
The Anurag Dikshit Stimulus Package
In 2009 the United States government will be receiving a stimulus package from the most unlikely of individuals. PartyGaming co-founder and billionaire, Anurag Dikshit, has agreed to forfeit more
States Likely to Begin Legalizing Sports Betting in 2009
With the economy in dire straits and individual states feeling the worst of it, the likelihood of at least one or more states legalizing sports betting is more a reality than ever in 2009.
Porn and Other Sin Industries Want Government Bailouts
Sex sells especially in an economic downturn, Sarah Estrella of the Examiner writes.
FBI Jobs Aplenty: Thousands of Job Openings
If you can't beat ‘em, why not join ‘em? The FBI recently posted some 3000 job openings this week, the most since 9/11.
Gamblers Go Heavy On Dow Closing Much Higher Following Citi Group News
Gamblers at online prediction market intrade.com were betting heavily that the Dow would close more than 25 points higher than Friday's close following news th
Casino Gambling in Atlanta? Not So Fast
With the US economy in a tailspin, what better time to bring casinos to Atlanta than now?
Downey Bank Finally Goes Down For The Count: Who’s Next?
So far the online prediction markets have been fairly accurate in their offering related to the next bank closure.
Las Vegas Sands Plunges on Default, Bankruptcy Risk
Nov. 6 (Bloomberg) -- Las Vegas Sands Corp., billionaire Sheldon Adelson's casino company, plunged in New York trading after saying it may default on debt and face bankruptcy.
The casino owner, which had $8.8 billion in long-term debt at the end of June, said in a regulatory filing today that it probably won't meet the requirements of some loans unless it cuts spending on development projects, boosts earnings at its Las Vegas Strip casinos and raises more capital.
Ron Paul On The Economy And Why The Bailout Was Bad Idea
Gambling911.com Senior Correspondent, Jenny Woo, had a chance to sit down with Republican Congressman, Ron Paul, to discuss his efforts in trying to legalize online gambling. But Dr.
The Bet That Blew Up Wall Street
(CBS) The world's financial system teetered on the edge again last week, and anyone with more than a passing interest in their shrinking 401(k) knows it's because of a global credit crisis.
World Poker Tour In Danger of Being De-Listed from NASDAQ
With the market taking a daily beating due to the global economy roller coaster and the pending US Presidential Election, things are not looking good for the beleaguered stock.
Financial Gamblers Torn Between DOW Close on Thursday
Slightly more than half of those betting at the online financial prediction market, intrade.com say the DOW will close lower than it did on Wednesday.
Don’t Forget to Pay Your Taxes!
October 13 was a national holiday in the United States. Banks and schools were closed. The significance of October 13? Columbus Day.
Wall Street Out of Coma: Main Street Paralyzed?
Despite Monday morning's slight return of confidence in the financial markets Intrade's Prediction Markets indicate the damage has been done and the U.S. economy is heading towards recession.
Intrade's prediction markets for macroeconomic indicators are currently showing the U.S. is likely to enter a recession before the end of 2009. The only question is when? And could there actually be a depression?
Prediction Market Gamblers Believe DOW Will Close Lower on Friday
With the Asian markets crashing early on, gamblers at www.intrade.com have been betting at a 60 percent clip or better that the DOW will close down by 2
Sheriff Thomas J. Dart Deserves a Medal: Obama Has Chance to Make Difference
Sheriff Thomas J.
Prediction Market Says Dow to Closer Higher Than on Tuesday
Can things get much worse on Wall Street? Let's hope not.
All Eyes on National City Bank Among Prediction Market Bettors
With Wachovia now sold to Citibank and then to Wells Fargo and maybe again to Citibank last week in the never ending drama centering around US banking turmoil, attention is now shifting to the next
At least the Wooden Arrow “Bailout” Was Bi-Partisan
The final Bailout plan to save Wall Street - and perhaps the nation - included a substantial amount of fat.
Prediction Market Gamblers Lose on Wachovia Bet
In the end, over 75 percent of the betting action was going Wachovia's way to fail by December 31, 2008 at online prediction market intrade.com.
