Business/Financial
Macau Gambling Revenue Surges to $23B in 2010
HONG KONG — (Associated Press) - Macau's government says casino gambling revenue surged by more than half in 2010, solidifying its rank as the world's biggest gambling market.
Data posted on a government website Monday showed that casino revenue totaled 188.34 billion patacas ($23.52 billion) last year. That's 57.8 percent higher than the 119.37 billion patacas reported in 2009.
XL Bet Shuts Down, Stiffs Players
An obscure online sports betting website, XL Bet, has closed its doors for good, stiffing customers in the process.
Bwin and PartyGaming Will Remain As Separate Brands After Merger
Ladbrokes Looking To Buy 888.com
After a failed attempt to acquire mega online casino company 888.com four years ago, The United Kingdom’s biggest bookmaker, Ladbrokes, is trying once more.
It was revealed Sunday night that Ladbrokes is offering around £240m or 70p a share. That is nearly half of what they offered four years back but the industry is in constant flux and online casinos in particular have been battered by the current economic crisis.
Nevada In The Toilet
The unemployment rate in the casino rich state of Nevada has now hit 14.3 percent and things do not seem to be getting much better. The percentage rose from 14.1 in October.
William Hill Shutting Stores, Paddy Power Big Hiring Plans
Atlantic City Casino Reform, Internet Gambling Won’t Work Claims Moody’s
Black Friday 2010 Sales Up: Bookie Reports Brisk Action On Betting Odds
The numbers are in and Black Friday 2010 looks to have been a triumphant success for retailers and perhaps an indication of happy times ahead for the economy over this holiday period.
Online sales benefitted significantly. Sites across the board reported a 15.9% increase in sales from the U.S., with consumers pushing the average order value to $190.80 from $170.19, according to Coremetrics, an IBM company.
Mobile Betting Boosts Sportingbet Profits
(The Press Association) - Online bookmaker Sportingbet said it has seen an increase in punters gambling on-the-go amid the growing popularity of smartphones.
Harrahs IPO Cancelled
Harrahs, the Las Vegas casino operator and sponsor of the World Series of Poker, has cancelled its IPO on Friday, citing declining marketing conditions.
News of the Initial Public Offering being scrapped comes one day after General Motors returned to the stock market surrounded by plenty of hoopla. While the GM shares did not deliver a huge punch over the price of the initial public offering, there was still a 3.6 percent rise in the stock price.
Stan James buys stake in online betting firm
Global online gaming operator Stan James Plc has announced the acquisition of a majority stake in Racing2day LLC, presided over by Belfast man Vincent Caldwell.
Apple Users Rejoice Over New Sports Handicapping App
2010 $19.5 million Revenue Loss for Cryptologic: 3rd Quarter Results Dismal
