Business & Financial
Howard Lederer Parties it Up in Las Vegas as DOJ Now ‘Flush With Full Tilt Poker Money’
Wendeen H. Eolis of Poker Player Newspaper was the first to reveal that great news was on tap for those owed monies by Full Tilt Poker. She’s proven to be an excellent resource for the poker community.
On Thursday, Ms. Eolis reveals that the “face behind Full Tilt Poker” over the past several years, Howard Lederer, was seen partying it up in Las Vegas after the deal was made official.
Pinnacle Entertainment Granted Approval to Open New Baton Rouge Riverboat Casino
Baton Rouge, La. — (Associated Press) - Pinnacle Entertainment Inc. has received approval from the Louisiana Gaming Control Board to open its new $368 million Baton Rouge casino on Aug. 29, if the riverboat passes a safety inspection.
Maryland Governor Signs Measure Expanding Gambling
ANNAPOLIS, Md. (Associated Press) — Gov. Martin O'Malley has had misgivings over the years about raising money for the state of Maryland through gambling, and while he had hoped he would only need to ask voters once whether to allow an expansion, he has decided he needs to do it again.
Zynga Adds Real Money Gambling: Spends $75k on Lobbying Efforts
The Wall Street Journal late Wednesday reported that Zynga, the publicly traded social gaming behemoth, has spent upwards of $75,000 lobbying in the United States to legalize online gambling. The primary focus up to this point appears to be in the state of California, where a current measure to legalize Web poker in the Golden State is expected to die by month’s end.
Bwin Signs Three-Year Deal With Football Club Manchester United
The world’s largest online sports betting firm, Bwin, confirmed on Thursday that it has signed a three-year sponsorship deal with England Premier League football club Manchester United for an undisclosed amount.
Facebook Insider Lockup Ending, Share Impact to be Seen Thursday
On Thursday (August 16, 2012) we will get to see how Wall Street reacts to a deluge of Facebook shares hitting the market following the end of a so-called “lockup period”.
Since the largest social media network went public back in May, the share price has fallen from a peak of $45 to Wednesday’s closing price of $20.74.
Reuters Doris Frankel suggests the stock's slump may actually work in Facebook’s favor this week as insider’s may be less inclined to dump the 271 million shares that are unlocked on Thursday, hopeful of a fast recovery.
Book on Absolute Poker to be Written by Ben Mezrich (Video)
Appearing on CNBC’s “The Squawk Box” Wednesday, author Ben Mezrich revealed he is writing a book about Absolute Poker, an online poker site caught up in a series of indictments last year.
The author of “Bringing Down The House” and “The Accidental Billionaires” sure will have plenty of material to work with. In addition to last year’s indictments that resulted in the ultimate shutdown of Absolute Poker and its sister site, UB.com, the online poker room was once embroiled in an “insider cheating scandal” that would later be profiled by the CBS news magazine show “60 Minutes”.
Online Poker CAP Tables Expanded to Include All Limits at Americas Cardroom
Just one week after introducing CAP tables at low stakes tables in its latest software update, Americas Cardroom has expanded CAP tables to include all limits. CAP tables will be available at low, medium and high-stakes tables, and no software update is needed to access the latest expansion.
Cantor Gaming Combines Fantasy Football and Gambling
Gambling911.com reported just the other day on how Web-based sportsbooks such as Northbet were starting to enter the Fantasy Football fray. Now comes word that gambling giant Cantor Gaming will be offering its own Fantasy Football variant.
And, yes, there is gambling involved.
Poker Phenom Viktor Blom Ends Sponsorship Deal With PokerStars
Famed Swedish online poker player Viktor “Isildur1” Blom has ended his representation of the world’s largest online poker room, PokerStars, after nearly a two-year relationship.
Record Bad Beat Jackpot Paid Out by Caesars Entertainment in Atlantic City
A bad beat jackpot spread out across five different Atlantic City casinos paid out around $800,000 to 411 poker players Monday, the largest amount in two years since inception of the bad beat jackpot concept. Caesars Entertainment offered the jackpots.
Vice Presidential Hopeful Paul Ryan Meets With Republican Donors at Adelson Property
US Vice Presidential hopeful Paul Ryan has scheduled to meet with deep-pocketed Republican donors at the Venetian Hotel in Las Vegas. That property just happens to be owned by the granddaddy of GOP donors, casino billionaire Sheldon Adelson.
The Wisconsin congressman will meet with members of the Nevada finance team on Tuesday evening - his first such event as part of Mitt Romney's campaign - but members of the media will not be allowed to attend, according to Reuters.
SkyCity Profits Up Nearly 13 Percent on Year
Aug 15 (Reuters) - New Zealand gaming company SkyCity Entertainment Group on Wednesday said its profits for the year rose almost 13 percent on improving revenue.
Sky City, which owns or has interest in four of the country's six casinos and two in Australia, reported a net profit of NZ$138.5 million ($111.7 million) in the 12 months to June 30, up 12.6 percent from NZ$123 million last year.
A Reuters estimate based on three analysts forecast a profit of NZ$142.2 million.
SkyCity announced a final dividend of 8 cents per share, unchanged from a year ago.
Jerry’s Nugget Casino Files for Bankruptcy
NORTH LAS VEGAS, Nev. (Associated Press) - A casino that's been a fixture in North Las Vegas since it opened in 1964 has filed for Chapter 11 bankruptcy protection.
Jerry's Nugget casino filed papers Monday after efforts to restructure its debt fell through. Chapter 11 protection allows the business to continue operating while coming up with a reorganization plan.
Record Breaking £80-100 Million Bet on London Olympics
The final tallies are out and the big winners at this year’s London Olympics was not the athletes but rather the online bookmakers.
An estimated £80-100 Million is believed to have been wagered on the London Olympics, according to Sporting Index. Initial forecasts called for somewhere between £20-£40m.
Chuck Blount on Legalized Internet Poker in the US: ‘Reason For Hope’
Since Gambling911.com first broke the story that PokerStars had reached a deal with the US Government to pay back players owed by Full Tilt Poker as part of an acquisition of its one time rival, some skeptics have expressed concerns over whether US players will actually see their monies.
Nevada Regulators Investigating Sheldon Adelson’s Sands Corp re Bribery Charges
Nevada gaming regulators are reportedly looking into whether Sheldon Adelson’s Las Vegas Sands Corp broke stringent bribery laws through its dealings in the Asian gambling Mecca of Macau.
Former Full Tilt Poker Patsy Michele Clayborne Says She’s No ‘Sybil’
One time lackey for Full Tilt Poker, Michele Clayborne, insists she never posted on public message boards as a man in an effort to cover up the mess transpiring at her former employer.
Immediately following the indictments of Full Tilt Poker executives on April 15, 2012, an individual using the handle “FTPDoug” took to the posting forums insisting all was well at FTP.
All was not okay at Full Tilt Poker, however, and “FTPDoug” was immediately called out as Ms. Clayborne by some.
PartyPoker Launches FastForward Fast Fold Poker Game Platform
PartyPoker, the world’s third largest online poker room, is the latest to offer its very own fast fold poker game, FastForward.
FastForward follows in the footsteps of PokerStars Zoom and iPoker’s Speed Hold’em.
Maryland Senate Gives Preliminary OK to Gambling Bill
Brian White, Associated Press
The Maryland Senate gave preliminary approval to expanding gambling to allow table games like blackjack and a new casino near the nation's capital.
The Senate, which took a recess on Friday until 6 p.m., planned to take a vote in the evening.
Senators spent much of the afternoon rejecting amendments, including one that would have lifted a provision in the bill to ban political contributions from casino owners.
PokerStrategy Sues Full Tilt Poker, Pocket Kings for $1.2 Million
eGaming Review Magazine this week revealed that the online poker portal, PokerStrategy.com, has sued Full Tilt Poker for $1.2 million claiming unpaid ad revenue.
MGM Posts 2nd Quarter Loss, but Revenue Surges 29 Percent
(Associated Press) - MGM Resorts International on Tuesday posted a second-quarter loss double what Wall Street was expecting, but revenue surged 29 percent on gambling and hotel room gains.
Shares rose 12 cents to $9.38 as the market opened.
The Las Vegas company, which runs the MGM Grand, Bellagio, Mandalay Bay and other properties, lost $145.5 million, or 30 cents per share, compared with a year-ago profit of $3.44 billion, or $6.22 per share.
Foxwoods CEO Sees Business Shift
HARTFORD, Conn. (Associated Press) — Increased gambling competition is forcing the largest casino in the Western Hemisphere to shift its business to include more non-gambling enterprises such as retail and conferences, the chief executive of Foxwoods Resort Casino said Thursday.
Scott Butera, CEO of the Indian-run casino, said in an interview with The Associated Press that Foxwoods anticipated the success of New York's Aqueduct Racetrack "racino."
"We planned for the effects of Aqueduct," Butera said.
Record $1.13 Billion Bet at Aqueduct Racetrack in July
(Associated Press) - More than a billion dollars bet by nearly a million customers last month is the latest evidence that the “racino” at Aqueduct Racetrack in New York City is capitalizing on its prime location and drawing dollars and gamblers from neighboring states’ casinos.
Absolute Poker Liquidation Confirmed by Kahnawake
Claims of ownership interest in Absolute Poker parent company Blanca need to be settled prior to the distribution of liquidated assets, PokerFuse.com was reporting on Wednesday.
Moody’s Investment Service Backs Mohegan Sun Purchase of Resorts Casino Hotel
HARTFORD, Conn. – (Associated Press) - A ratings agency says the deal in which Connecticut-based Mohegan Sun casino operators will manage Resorts Casino Hotel in Atlantic City could boost the Mohegan tribal authority's management venture.
Moody's Investors Service said Wednesday that to the extent the Mohegan Tribal Gaming Authority can improve the performance at Resorts and develop a successful track record in Atlantic City's challenging market, the deal could result in more management contract opportunities.
South Point Casino Receives Tentative Approval for ‘Real Money’ Internet Poker
LAS VEGAS (Associated Press) - Nevada state gambling regulators have given tentative approval for a casino's plan to operate an Internet poker website accessible only within Nevada boundaries.
The state Gaming Control Board in Carson City gave conditional approval Wednesday for the South Point casino to conduct interactive gambling.
The Las Vegas Review-Journal reports that if the Nevada Gaming Commission gives the OK on Aug. 23, the casino owned by Michael Gaughan would be the first licensed for interactive gambling.
Mobile Gambling Comes to Atlantic City
TRENTON — (Associated Press) - Adults who patronize Atlantic City’s casinos will soon be able to gamble at the pool, in their hotel rooms or while waiting in line at the buffet.
Gov. Chris Christie has signed legislation increasing gambling options to include handheld devices.
Mobile gambling will be restricted to the casino property.
Mohegan Sun Takes Over Atlantic City Resorts Casino Hotel
ATLANTIC CITY, N.J. — (Associated Press) - The tribe that owns the Mohegan Sun casino extended its reach in the East on Tuesday by taking over operations of Atlantic City’s oldest casino, planting itself in the region’s gambling mecca as an alternative to luring tourists to its slot machines and poker tables in eastern Connecticut.
Facebook Friendzy ‘Real Money’ Online Gambling Appears to Target Little Ones
With the “real money” online gambling launch of Bingo & Slots Friendzy on Facebook in Great Britain Tuesday, courtesy of provider Gamesys, mums across the nation have begun condemning the deal.
Indeed, the new app appears to have the look and feel of a child’s game.
"If my child came and asked me for money to play on this, I'd be livid," one mother said, speaking with TechEye.com. "But then I couldn't blame him, it looks like a very simple child's game."
