Business & Financial
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.
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.
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.
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:
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.
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™.
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.
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.
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.
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.
PokerStars Foreign Exchange Margin has Players Fuming
Following Gambling911.com’s report that PokerStars parent company Amaya may be preparing to make drastic changes to its business model, the company wasted zero time in imposing a foreign exchange margin for deposits and withdrawals, much to the dismay of long time loyal customers.
Taj Mahal Closing in Atlantic City ‘Inevitable’ Says Icahn
ATLANTIC CITY, N.J. (Associated Press) — Billionaire investor Carl Icahn says the struggling Trump Taj Mahal casino "will almost certainly close."
Ladbrokes Sees 94pc Jump in Profits
Ladbrokes has been struggling to keep pace with market leader William Hill in the growing online gambling market and Glynn's position has appeared under threat.
The impact of the football World Cup helped to boost operating profit to 33 million pounds in the three months to the end of September, almost double the equivalent figure of 17 million in 2013.
"The changes and the investments we made in the business are starting to be reflected in the results," Glynn told Reuters, saying the company was "on track" for full year targets.
The End of PokerStars, Full Tilt Poker as We Know It?
News this week that Full Tilt Poker has opted not to renew the contracts of big name pros Gus Hansen and Viktor Blum may provide a glimpse of the future for FTP and its sister site PokerStars.com.
Outsource Bookmaking and Sportsbook for Bookies
For anyone looking to go with an outsource bookmaking business or sportsbook look no further than PayPerHeadAgents.com, a leader in the Per Head sector.
PayPerHeadAgents.com has everything for your football betting needs but they also cater to those focusing on this season’s College Basketball, NBA and NHL betting in addition to other major sports including Soccer.
Fantasy Sports Propels NFL to Record Ratings: Has Become a Cultural Phenomenon
ANAHEIM HILLS, Calif., Oct. 20, 2014 (GLOBE NEWSWIRE) -- Eilers Research, LLC has announced the publication of an in-depth white paper titled: "Daily Fantasy Sports: The Future of US Sports Wagering?" The report, authored by Adam Krejcik, Managing Director of Digital & Interactive Gaming, takes a comprehensive look at the financial health of the Daily Fantasy Sports market, as well as an analysis of the competitive landscape and expected industry growth through 2020.
Japan Casino Plan to be Delayed Further
TOKYO (Reuters) - Japan's plan to legalize casino gambling is likely to be delayed yet again, a senior official said, dealing a new blow to Prime Minister Shinzo Abe and a setback to operators anxious for the launch of Asia's next big gambling market.
Las Vegas Sands, Genting Singapore, MGM Resorts, Melco Crown Entertainment and others are waiting in the wings as potential investors in what analysts say is one of the world's biggest untapped markets, worth tens of billions of dollars a year.
DraftKings Partners With New England Patriots: First Deal of its Kind in NFL
The popular daily fantasy sports site Draftkings.com has partnered with the New England Patriots. The partnership is a first for any professional football team with an organization operating in daily fantasy sports and it was inked just hours before Thursday night’s game against the Jets.
Sportsbook Review – GTBets.com – Bonus Code
Gambling911.com has your sportsbook review for GTBets.com, also known as Game Time Bets. Please note that at this time the universal sportsbook bonus code of G911 cannot be applied at GTBets.com.
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Sports Betting Bill Approved by New Jersey Assembly
(Associated Press) - State lawmakers passed legislation Thursday that could allow legal sports betting in New Jersey to move forward.
The Assembly passed a measure that was overwhelmingly approved earlier this week in the state Senate. It’s aimed at helping the state’s foundering casino and racetrack industries, and would partially repeal prohibitions against sports wagering in the state.
Real Money Candy Crush Coming to NJ: Video Gaming Addiction Specialists Cringe
Candy Crush Saga is the uber popular social gaming platform that now rivals what Farmville had been a few years ago. And now Candy Crush is coming to Atlantic City to save the day. That resort town has lost more than a quarter of its land-based casinos in the past year as the gambling landscape continues to shift with the times.
Rochester NY Rivals Silicon Valley as New Tech Epicenter, Fantasy Sports Hub
In an interview conducted with Gambling911.com’s own Thomas Somach this week, Seth Young, COO of Star Fantasy Leagues, revealed neither he nor the two co-founders have any intention to move their thriving fantasy sports business out of Rochester, New York, calling the city “
Las Vegas Sands Revenue Drops but Profit Grows
Las Vegas – (Associated Press) - International gambling destination Macau continued to pose a challenge for casino giant Las Vegas Sands Corp. in the third quarter.
But as high-roller gamblers eased back there, they shelled out at the company’s Marina Bay Sands resort in Singapore where the casino’s win-per-day climbed to $4.82 million.
The company also pointed to increased spending on entertainment, retail shops and hotel rooms beyond the casino floors.
Star Fantasy Leagues Giving Traditional Sports Betting a Run for its Money
ROCHESTER, N. Y. -- The hottest things in sports right now are commercial sports fantasy leagues, where fans of major sports can create and manage their own imaginary teams and, in the process, earn cash prizes depending on the teams' success.
And it's all legal, because the Federal government of the U.S. has officially decreed that participating in fantasy sports involves skill, not luck, so it's not considered gambling.
How Bookies Settle Up With Customers: Why Tuesday
In the world of bookmaking, one often hears the term “settling up with customers”. What exactly does this mean for the bookie?
“Settle-up Day”, typically the Tuesday after Monday Night Football during the NFL season, is when all customers who are at or above their settle-up figure must be seen to zero their account. This is when you pay and collect, and it is usually the only time you see your customers face-to-face.
Taj Mahal to Close if Judge Does Not Approve Cancelation of Union Contract
In what could prove to be yet another blow to Atlantic City's stuggling casino industry, billionaire investor Carl Icahn has warned that the famed Taj Mahal will need to shut its doors should a bankruptcy judge fail to cancel the casino’s lucrative union contract this coming Friday (October 17, 2014).
Negreanu Supports PokerStars Controversial Spin N Go Games: Others Do Not
Approximately 800 players have won up to five figure prizes playing in PokerStars new Spin & Go games since launching earlier this month. So why are some folks up in arms?
Can the NBA Make a Huge New TV Deal Pay Off? More Betting on Games Likely
The latest TV deal signed by the NBA could bring that league truly into the big time. Not only did the deal more than double the fees it would receive from the two networks that signed the deal, the NBA will enjoy the sort of long-term media rights that the NFL and MLB take for granted.
Atlantic City Casinos for Sale at Deep Discounted Prices
ATLANTIC CITY, N.J. (Associated Press) -- The meltdown of Atlantic City's casino market has created some stellar bargains for would-be purchasers of some of the city's biggest landmark properties. Here are a few of the recent discount sales:
