Business/Financial
Harrah’s New Online Poker Unit Coming to Montreal
As first reported on Gambling911.com, Harrah's will be launching a new online unit.
MGM Told to Cut Ties With Macau and Pansy Ho
New Jersey regulators have told MGM they need to abandon a joint venture with Macau and Pansy Ho, accusing the later of being part of an organized crime family.
Harrah’s $1 Billion in New Notes to Pay Old Debts
LAS VEGAS-(Associated Press) - Casino operator Harrah's Entertainment Inc.
Unemployment Rate: You Can Bet On It
The unemployment rate throughout the world is skyrocketing. And while online gambling websites based out of the United Kingdom have long been offering unemployment betting,
Atlantic City Profits Way Down: Sports Betting a Must
It's more bad news for Atlantic City as the East Coast casino empire witnessed gross operating profits decline by more than 38 percent in the first quarter of 2009.
The Bellagio, MGM Grand to be Developed in Dubai
The Middle Eastern nation of Dubai will get its own Bellagio and MGM Grand Hotels, two iconic staples of Las Vegas.
Unibet Positive Financial Results Announced
Swedish Internet gambling giant, Unibet, announced positive financial results Monday for the first quarter of 2009 in the midst of a worldwide recession.
Highlights included gross winnings revenue amounting to $31.3 million for the first quarter of 2009, profit of $10.9 mil for this same period and operating cash flow before movements in working capital amounting to $13.5 million. Active customers totaled 314,977.
Vegas Hotel Room Rates Will Increase
With signs that hotel occupancies are going up, MGM Mirage executives said demand for the company's hotel rooms is high enough to warrant an increase in room rates, which have plummeted during the
Las Vegas Sands Losses Mount
LAS VEGAS (AP) - Casino operator Las Vegas Sands Corp.
Recession Having Little Affect on Kentucky Derby Online Gambling
Bloomberg News was reporting on Friday that Kentucky Derby betting may fall 30 percent as the worst economy in a generation hits Louisville. Not so with online gambling as Gambling911.com was see
Verizon in Hot Pursuit of Apple iPhone: Odds Posted
Recent frantic reports emerged over the past few days claiming Verizon Wireless' hot pursuit of an iPhone or iPhone like device from Apple in order to compete with AT&T, which has exclusive rig
Harrah’s Gets Hit Hard By Economy: 2009 WSOP Hotel Rates Slashed
The world's largest casino operator and owner of the World Series of Poker, Harrah's Entertainment Inc., reported first quarter financial results Monday that showed a further decline in revenue. The company said its revenue had declined 13.3 percent to $2.254 billion in the first quarter. The pinch was felt especially hard in Las Vegas where these numbers were 20.5 percent (down to $686.4 million) while cash flow fell 27.9 percent to $198.6 million.
Gambling911.com Abruptly Scraps Plans to Attend 2009 WSOP
In a sign of the worsening economy, Gambling911.com, one of the top 10 most read poker news sites, has decided to scrap all plans to attend this year's World Series of Poker (WSOP).
Richard Branson is Losing £171,233 an Hour
Billionaire business tycoon is losing £171,233 an hour according to a report filed by the News of the World on Sunday. This was equivalent to £1.5 billion. He's now down to his last £1.2bill
Marijuana, Online Gambling Good: Personal Financial Management Bad
If Congressman Barney Frank had his way, online gambling and marijuana would be legalized. However, he would not allow personal freedoms when it comes to one's own financial decisions.
Recession Forces Mainstream Media to Reconsider Online Poker Stance
With an understanding that online poker, casinos and sports betting take in several billion a year, mainstream media outlets once opposed to advertising with related venues are now beginning to und
Recession Hits the Mafia
The current economic downturn seems to be having an adverse effect on every industry whether legitimate or not-so-legitimate. Case in point: The Japanese Mafia is being hurt by the recession.
Recession Casualty: Elvis Evicted From Las Vegas
The recession is hitting many people and places hard. Las Vegas is among the hardest hit and this week came the shocking news that Elvis Presley (a Vegas icon for years) is now being evicted.
According to the Las Vegas Review Journal, a group of investors who had planned on creating a $475 million Elvis Presley-themed resort on the Strip could be forced to sell the property. The reason:
Recession Has Little Impact On 2009 US Masters Betting
As with the Super Bowl, Oscars and NCAA Men's Basketball Tournament, traffic results from Gambling911.com once again indicate that a major sporting event has shattered all betting records. This t
If Vegas Project Fails It Will Be Like Pearl Harbor
LAS VEGAS (Reuters) - It was conceived as the centerpiece of a thriving Las Vegas -- one of the world's most expensive building projects that would bring back glamour to the Strip and cap an unprec
Allen Stanford Expects to be Indicted in Two Weeks
International financier and Antigua's biggest banker, Allen Stanford, said in an interview Monday that he anticipates being indicted within the next two weeks. Stanford cried, denied and threaten
World Series of Poker Sponsor Harrah's Cash Flow a Problem
Earlier in the week, Gambling911.com reported on how MGM was in serious financial peril. Now comes word that World Series of Poker sponsor, Harrah's, may not be able to fund its debt.
MGM Casinos To Go Bankrupt?
Despite winning a two month reprieve to restructure debts, auditors raised 'substantial doubt' in whether MGM Mirage could continue operations.
Switzerland and Other Tax Havens Under Intense Scrutiny
(Reuters) - Switzerland, Austria and Luxembourg all sought ways on Friday to fend off a global crackdown on tax evasion by making concessions on bank secrecy.
Allen Stanford Booted Off Billionaire List
Allen Stanford, All Stanford, the Texan accused of an $8 billion fraud by U.S.
Las Vegas Economy: Total Train Wreck
The effects of a bad economy are hitting Las Vegas like a multi-pronged attack. As people find their disposable income dwindling, tourism and gambling are at an all time low in Sin City.
Credit Card Fraud an Obvious Problem in Costa Rica
Bookmakers, employees...and yes, tourists....beware. Credit card fraud is a very serious problem in the world's epicenter of online gambling.
Credit Default Swaps Were The Worst Form of Gambling From Wall Street
In an interesting piece appearing in Market Oracle, that site pretty much makes it clear that Wall Street was gambling when it came to those so-called Credit Default Swaps:
Unemployment Rate To Go Above 9 Percent This Year Say Gamblers
The online prediction markets are saying that unemployment in the United States could go above a staggering 9 percent by year's end.
