Business & Financial

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.

Submitted by Aaron Goldstein on, Nov/12/2014

Bwin.Party Confirms Takeover Talks

(Reuters) - Online gambling company Bwin.Party said on Wednesday it was in early talks with a number of parties over a "variety of potential business combinations", which could result in an offer being made for the firm.

Shares in Bwin.party, which made the statement in response to recent media speculation, jumped almost 17 percent on the news to 126 pence.

The company has faced pressure from U.S. activist investor Jason Ader's Spring Owl vehicle to shake-up its board, improve its growth strategy and reduce infrastructure costs.

Submitted by Reuters on, Nov/12/2014

NHL Enters Into Multi-Year Exclusive Deal With DraftKings.com

The National Hockey League has just entered into a multi-year exclusive deal with one of the world’s largest daily fantasy sports contest sites, DraftKings.com.   The agreement calls for DraftKings.com to become the official daily fantasy sports site of the NHL.

Submitted by Aaron Goldstein on, Nov/11/2014

Tribes Starting to Come Together to Offer PokerStars Online Poker in California

Sacramento, CA, and Montreal, Canada - The San Manuel Band of Mission Indians and Amaya Gaming Group (TSX: AYA) announced today that the San Manuel Band of Mission Indians has agreed to join the existing business agreement between the Morongo Band of Mission Indians, California’s three largest card clubs – the Commerce Club, the Hawaiian Gardens Casino and the Bicycle Casino – and Amaya which owns and operates PokerStars, the world’s largest online poker site.

Submitted by Press Release on, Nov/11/2014

Caesars Shares Plunge on News of 3Q Losses

Caesars Entertainment Corp. on Monday reported a wider 3rd quarter loss than what had previously been expected. The Las Vegas-based company has not been profitable since 2009.

Caesars reported a loss of $908.1 million, or $6.29 per share, for the July-September period. It posted a loss of $761.4 million, or $6.03 per share, in the same months last year.

Submitted by Aaron Goldstein on, Nov/11/2014

Bookies Fare Well With Jets, Browns, Ohio State Outright Wins

The three most wagered on sides in Football this past week just happened to all be dogs.  Each of these teams also won their respective games, leading to big victories for the bookmakers as well.

By far the biggest of those wins came with the New York Jets beating Pittsburgh at home as a +4.5 underdog.

Submitted by Tyrone Black on, Nov/10/2014

Dan Bilzerian Plays Poker With Mini Me, a Gorilla

Poker playboy Dan Bilzerian recently teamed up with Mini Me star Verne Troyer (“Austin Powers”) and a tuxedo-wearing gorilla named Gerald to shoot a commercial for the online casino group BGO.com.

Submitted by Nagesh Rath on, Nov/09/2014

Gambling Industry Spent $14 Million to Defeat Ballot Question in Mass

BOSTON (Associated Press) -- Casino companies and their supporters spent nearly $14 million in their successful campaign to defeat a ballot question on repealing the state's casino law.

Campaign filings submitted this week show more than half of that spending -- $7.6 million -- came in the days leading up to the Nov. 4 election, thanks to major contributions from the state's three licensed casino operators: Wynn Resorts, MGM Resorts International and Penn National Gaming.

Submitted by Associated Press on, Nov/09/2014

Bookies in Oakland, California Area: Where to Find Them

If you are looking for local bookies in the Oakland, California area, they are in total abundance. Chances are PayPerHeadAgents.com services these bookies as they are fluent in Chinese and Oakland encompasses the third largest Chinese-American population.  PayPerHeadAgents.com can be reached via phone at 888-328-6957 國/粤语: 888-328-6957.

Submitted by Aaron Goldstein on, Nov/07/2014

United Airlines to End Atlantic City Service

United Airline has announced it will be ending flights to and from the struggling seaside gambling community of Atlantic City just eight months after first offering said flights.

The company issued a statement Friday saying the service between Atlantic City and two of its hubs – Houston and Chicago – were “no longer sustainable”.

Submitted by Aaron Goldstein on, Nov/07/2014

Online Gambling Site Fined by New Jersey Gaming Enforcement Division

ATLANTIC CITY – (Associated Press) - Authorities have fined an Internet gambling firm $10,000 for soliciting more than 250 people who voluntarily excluded themselves from gambling in New Jersey.

State Gaming Enforcement Division spokeswoman Kerry Langan tells The Press of Atlantic City the fine against Caesars Interactive Entertainment is the first imposed since New Jersey launched online gambling last year.

Casinos and online operations are forbidden from sending promotional materials to gamblers who voluntarily ban themselves.

Submitted by Associated Press on, Nov/06/2014

Backlash Over PokerStars Rake Increase as Pros Speak Out: ‘Will Hurt Bottom Line’

A handful of poker pros offered their opinion of the recent rake increase at the world’s largest online poker site PokerStars.

Speaking to PokerNews.com, the likes of Phil “OMGClayAiken” Galfond, Shannon “basebal1b” Shorr and la “Odd_Oddsen” Amundsgard spoke publicly about the changes now taking place at Stars, all of which seem to be embracing a more “recreational” model similar to that found at Bodog Poker.

Submitted by Ace King on, Nov/05/2014

Casino Expansion Plans Get Voter Approval in Three States

Five states featured amendments to expand casino gambling within their borders during Tuesday’s midterm elections and three of those initiatives received better than 50 percent of the required vote.

Submitted by Aaron Goldstein on, Nov/05/2014

888 Sees 22 Per Cent Jump in Q3 Revenue

(Reuters) - 888 Holdings Plc shares rise as much as 5.4 pct, among the top performers among UK midcaps, after issuing an upbeat outlook.

** Online gambling company says expects full year adjusted EBITDA ahead of current analyst consensus.

** 888 posted a 22 pct jump in Q3 revenue driven by a strong performance in its casino games.

** Investec Securities, which rates stock a "buy" , says all areas are performing well, but casino, in particular is way ahead, with Q3 revenue up 23 pct.

** Up to Monday's close, the stock had fallen about 25 pct this year.

Submitted by Reuters on, Nov/04/2014

Yahoo Real Money Online Poker Site?

A new Yahoo free-to-play online poker site could become a serious contender in the realm of real money online poker in the foreseeable future.

Submitted by Patrick Flanigan on, Nov/04/2014

Macau Gambling Revenue Falls 23 Per Cent in October: Worst Ever

(Reuters) - October was the worst month on record for casino revenues in the world's biggest gambling hub Macau as China's pervasive war on corruption, combined with fewer tourists and slowing economic growth, dampen the appetite to wager.

Gambling revenues for the month fell some 23 percent year-on-year, the sharpest drop since the former Portuguese colony started keeping records, government data showed on Tuesday.

Submitted by Reuters on, Nov/04/2014

William Hill Bookmaker Under Investigation: Denies Unlawful Activity

Britain’s biggest bookmaker, William Hill, has voluntarily suspended one of its call centers following the launch of an investigation into alleged unlawful activity.

The Philippines National Bureau of Investigation will conduct the probe at the Manila center.

The bookmaker insists it has not engaged in any unlawful activities.

Submitted by Aaron Goldstein on, Nov/03/2014

Bout of Bad Luck, Boosted Revenues Cause Betfair Share Price to Rise

A 22 percent revenue increase to £119m helped share prices rise nearly 3 per cent to £12.46 in early trading on strong second-quarter results.

Much of the rise in revenue directly correlated with strong World Cup results favoring the bookmaker though its active customer base also rose 30 per cent.

Breon Corcoran, Betfair's chief executive, suggested the firm’s focus during the second quarter had been on "maintaining this momentum".

Submitted by Aaron Goldstein on, Nov/03/2014

Equity Poker Network Cuts Ties With 5Dimes.com

San Jose, Costa Rica - As EquityPokerNetwork.com (“EPN”) is only days away from its first anniversary of real-money gaming, it is also enjoying a phase of new maturity, as it better understands its own recreational player base and what makes for a great union between Network and Operator. This self-awareness brings today’s announcement that the EPN and the 5Dimes Group have ended their business relationship, effective immediately.

Submitted by Press Release on, Oct/31/2014

Borgata Revenue Increases Nearly 5 Percent in Third Quarter

ATLANTIC CITY, N.J. (Associated Press) — The Borgata's revenue increased by nearly 5 percent in the third quarter of this year, and it increased its share of Atlantic City's gambling market to 24 percent.

The figures were released Thursday by the casino's parent company, Boyd Gaming.

Company president Keith Smith says earnings before interest, taxes and other charges were $56.9 million in the third quarter, up more than 22 percent from a year ago.

The Borgata benefited from a tax settlement with the city of Atlantic City that contributed $8.1 million to earnings.

Submitted by Associated Press on, Oct/30/2014

MGM Posts Narrower Losses

(Reuters) - MGM Resorts International posted weaker-than-expected bottom-line results for the third quarter, injure by lower revenue at its China operations.

Shares fell 3.9% to $22 in recent premarket trading. The company has seen traffic increase at its Las Vegas hotels and casinos and has generally done well in Macau. Beyond these core markets, MGM Resorts, like its rivals, is looking to broaden its market in to Japan following momentum in the country toward legalized gambling.

Submitted by Reuters on, Oct/30/2014

The Rise of Vegas, Fall of Macau: Wynn Latest to Report Shifting Tide

LAS VEGAS (Associated Press) — Las Vegas was good to Wynn Reorts Ltd. in the third quarter but not enough to make up for a stormy three months in Macau.

Wynn reported Tuesday that the company's revenue dropped 1.4 percent to $1.37 billion in the quarter as gains in Vegas were offset by a decline in Macau, its biggest market.

The company's net income rose about 5 percent on lower expenses to $191.4 million or $1.88 per diluted share, and adjusted earnings per share of $1.95 met Street expectations, according to a survey by FactSet.

Submitted by Associated Press on, Oct/29/2014

Nevada Sportsbooks had Their Third Best Month Ever: NJ Left Out in the Cold

Nevada sportsbooks raked in $37.27 million from $339.1 million bet during the month of September, making it the third best month in amount won and wagered for the books according to the Nevada Gaming Control. 

The sportsbooks enjoyed nearly an 11 percent hold on College Football and NFL bets.

"Sports betting is on a roll," said Nevada Gaming Control senior research analyst Michael Lawton.

Submitted by Aaron Goldstein on, Oct/29/2014

Full Tilt Poker Claims Admin: ‘Provide Your Correct Social Security Number or Else’

You’ve been warned, provide the correct social security number with your Full Tilt Poker claim or face being denied a refund.

The Garden City Group serves as claim administrator on behalf of the U.S. Government in order to facilitate payouts to those owed monies by Full Tilt after they were forced to exit the American market in April 2011. 

Millions of dollars were owed to customers of Full Tilt Poker and, to date, the process of repayment has gone smoothly for the most part.

From the Garden City Group:

Submitted by Patrick Flanigan on, Oct/28/2014

Lesniak Blames Credit Card Firms for Online Gambling’s Lackluster Performance in NJ

New Jersey State Senator Raymond Lesniak, speaking via Skype at the Mobile and Tablet Gambling Summit USA at Bally’s on Monday, said he still has great hopes for Internet gambling in New Jersey but blamed credit card processing banks for stymying growth.

BetOnline

Submitted by Aaron Goldstein on, Oct/28/2014

Atari Enters Social Gaming, Casino Space With Atari Jackpots

New York – Atari®, one of the world's most recognized publishers and producers of interactive entertainment, in partnership with FlowPlay, a leader in virtual world games and technology and the creators of Vegas World, today announced the launch of Atari Jackpots.

Submitted by C Costigan on, Oct/28/2014

Nevada Gambling Revenue Fell 6 Percent in September

LAS VEGAS — (Associated Press) - State officials say Nevada gambling revenue fell 6 percent in September from the same time last year.

The Nevada Gaming Control Board reported Tuesday that casinos brought in $902 million last month.

Las Vegas Strip gambling revenues were down 12 percent to $495 million, while downtown revenues were down 4 percent to $43 million.

Reno casinos won $48 million in September, which is down about 2 percent year-over-year. South Lake Tahoe gambling revenues of $24 million bucked the trend and were up 7 percent over last year.

Submitted by Associated Press on, Oct/28/2014

Ivey Poker Bites the Dust

The social poker site Ivey Poker (IveyPoker.com) has shut down this week a little over a year after launching.

Full Flush Poker 150% Welcome Bonus and 20% Cashback

Submitted by Patrick Flanigan on, Oct/27/2014

Fantasy Basketball: Questions About Legality Remain

Fantasy Basketball in the US is legal under federal law but that doesn’t mean your individual state permits it.

With Fantasy Basketball getting into full swing over the next few days, questions about its legality will surely arise.

One need only look at the gambling industry to understand why federal vs. state law does matter.

Submitted by Aaron Goldstein on, Oct/27/2014

Taj Mahal Workers Furious Over Icahn Plans to Save Casino

ATLANTIC CITY N.J. (Reuters) – Hundreds of unionized workers lashed out at Carl Icahn on Friday, picketing the Trump Taj Mahal Casino where the billionaire activist seeks to terminate health-care and pension plans.

Members of UNITE HERE Local 54 picketed the Atlantic City casino a week after bankruptcy court approved a $US100 million plan by Icahn, who holds the mortgage to the property, which hinges on benefit cuts and tax concessions from city and state governments.

Submitted by Reuters on, Oct/26/2014

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