Business & Financial
CNBC’s Cramer Says to Get Your Money Out of IGT
In Wednesday’s lightning round, CNBC’s popular stock analyst Jim Cramer offered his advise on slot maker International Game Technology:
“Online gambling isn't taking off and there aren't a lot of new casinos being built,” said Cramer. “Therefore, I think there are better places to put money.”
New Jersey Internet Gambling Sees Decline in April
ATLANTIC CITY, N.J. (Associated Press) — New Jersey's fledgling Internet gambling industry saw its first monthly decline, falling slightly to $11.4 million in April.
In March, which had one more day of gambling than April had, Internet gambling brought in $11.9 million. Figures released Wednesday by the state Division of Gaming Enforcement show the average online take per day was $380,958 in April, down from $383,173 in March.
UltimatePoker CEO Tom Breitling: Size Does Matter
UltimatePoker CEO Tom Breiting sat down to discuss the size of the online gambling market in a very small regulated portion of the United States.
“With the creation of a new industry, there are a lot of unknowns,” Breitling says. “And our company was pushed off balanced just a little bit (with emphasis) for revenue projections.”
Those projections for the Nevada market, where UltimateBet leads and is only one of two sites online, was for $80 million. In New Jersey, estimates were in the $250 million to $1.2 billion range.
Americas Cardroom Stops Serving New Jersey, Delaware and Nevada Markets
Americas Cardroom today announced a move to serve players only in markets without state-licensed poker sites. The online poker site today announced that, effective immediately, players in New Jersey, Delaware, and Nevada will no longer be eligible to play real money online poker at Americas Cardroom.
Paddy Power CEO to Step Down Amidst Two Worst Weekends Ever in Football
Paddy Power, the United Kingdom’s third largest bookmaker, suffered two of its worst weekends in football on record this year. The company’s stock has dropped 4% and CEO Patrick Kennedy has announced his departure in 2015. Kennedy has been CEO of Paddy Power since 2006 with the betting firm enjoying huge success throughout much of his tenure.
URINE-SANE!!! Paddy Power Handing Out Pure Urine Samples to Giro d' Italia Riders
Perhaps sensing they were being outdone by Stan James and that bookmaker’s infamous defacing of a medieval wall, the king of online gambling marketing, Paddy Power, has announced they will be handing out clean urine samples to riders during the final stage of Giro d' Italia in Ireland.
Casino High Roller Being Sued Over $14.1 Million Debt
Melbourne’s Crown Casino is suing a gambler over $14.1 million they lent out to finance his gambling spree that reportedly left it nearly $8 million in the red.
High-roller Zhao Li is now being sued by the casino after Crown claims he has either refused or otherwise forgot to pay them back.
Donald Sterling Lessons - PR in the Age of No Privacy: Odds on Next Clippers Owner
Ronn Torossian comments on Donald Sterling (founder of 5WPR.com):
Ever since the recording of Clippers owner Donald Sterling making racist remarks was broadcast, anyone who has ever said anything, in public or private is having second thoughts. Clearly, the dialogue surrounding privacy in America - particularly for people of influence – has changed.
Caesars Could Close All Four of Its Atlantic City Properties: Harrah’s, Bally’s
In a conference call last week, Caesar’s Entertainment Corp. CEO Gary Loveman said his firm could not rule out closing some or all four of its Atlantic City casino properties as a means to cut costs.
Two Billionaires Place Bets on Japan Casino Sector
OSAKA/TOKYO (Reuters) - Two US billionaires are betting on rival cities, Tokyo and Osaka, to be the first in Japan to open casino resorts - once the government gives the go-ahead to legalize gambling.
Japan is one of the world's last untapped gaming markets and could become the third largest gambling destination after Macau and the United States, with annual revenue of over $40 billion, according to broker CLSA.
Australian Casino Magnate James Packer Receives A$500 Fine for Brawl
Crown Resorts Ltd. Chairman James Packer has been fined A$500 for a May 4 street brawl near Sydney’s Bondi Beach. The other man involved in the altercation, Nine Entertainment’s CEO David Gyngell has also been fined the same amount.
Bookmaker Stan James Could be Charged With Crime Over Defacing of Heritage Site
The popular British bookmaker Stan James was reported to authorities for stenciled graffiti advertising the betting firm was found on the Roman walls of Chester, a Heritage site that has existed since 40 AD.
The company added the graffiti ahead of this weekend’s Chester Horse Racing Festival. The Chester council has accused Stan James of a “Heritage Crime”.
Ronn Torossian & 5WPR Continue Winning Awards
Longtime Friends of Gambling911,Ronn Torossian & his New-York based firm 5WPR continue to win awards.
The announcement came today that 5WPR was named a Finalist in The 2014 American Business Awards for four categories, including PR Agency of the Year and PR Executive of the Year for 5W CEO and Founder, Ronn Torossian, and will ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. 5WPR was agency of record for 2013 – and Torossian won a silver for 2013 PR exec of the year.
CashBet is Coming to New Jersey: In Talks With Several Atlantic City Casinos
CashBet, a California-based and Alderney-licensed software platform provider and turnkey operator enabling online gambling for social and mobile games, revealed it will be offering its platform in the coveted US market by year’s end, specifically the state of New Jersey.
The company launched its real money online gambling platform in the UK on Thursday (May 8, 2014) with the casino game Casino Island Adventure from leading developer Gamzio, Inc.
New $4 Billion Resort to Begin Development in Las Vegas Later This Year
(Reuters) - Genting Bhd, Southeast Asia's biggest gaming group, will begin construction of a $4 billion gaming resort on the Las Vegas strip in the second half of this year, it said in a statement on Thursday.
Caesars Posts Larger Than Anticipated Loss in 1st Quarter
(Associated Press) - Caesars Entertainment on Wednesday reported a wider first-quarter loss as gambling revenue fell and the company's casinos outside of Las Vegas faced stiffer competition and bad weather.
The Las Vegas-based company, which runs the Caesars, Harrah's, and Horseshoe brands, has struggled since the recession, and has not posted a profit since 2009. It's hobbled by its lack of a presence in the Chinese gambling enclave of Macau, which has been the center of the gambling world for years.
Pennsylvania to Look at Legalizing Online Gambling: Adelson Can’t be Happy
Consultants told Pennsylvania lawmakers Wednesday that legalizing online gambling in the state would lead to more total gambling revenue, approximately $307 million a year to be more precise. Neighboring New Jersey has already legalized Web casinos and poker though, to date, early income figures appear way off the mark.
James Thackston on 'Years Long Revenge Trip to Damage Online Gambling Co’s’
iGaming.org columnist Haley Hintze calls him “a jilted would-be software entrepreneur on a years-long revenge trip to damage companies that wouldn’t purchase his software products or theories.”
She’s referring to one James Thackston, for whom Hintze details the release of public emails exposing his apparent agenda.
Sands Bethlehem Not for Sale After All: Adelson to Invest More in Property
Despite much speculation in recent months, the Allentown Morning Call reported on Tuesday that the Sands Bethlehem Casino is not for sale and that Sands chairman Sheldon Adelson has announced further investment in the property.
Reefer Madness: Nevada Warns Casinos Over Pot Investments
LAS VEGAS (Associated Press) — Nevada gambling regulators issued a notice Tuesday advising casino operators against investing in the state’s nascent medical marijuana industry.
Gaming Control Board member Terry Johnson sent a memo reminding licensees that the state has legalized dispensaries but federal law still prohibits manufacturing and distributing marijuana.
AceSportsbook.com Announces Revamped Affiliate Program: Review
"AceSportsbook.com has announced a revamped affiliate program, with commission percentages up to 25%. They handle everything, just send them players, and they send you money.
Adelson to UNLV Students: ‘I Don’t Want a Casino Put on Every Kitchen Table’
LAS VEGAS — (Associated Press) - Casino mogul Sheldon Adelson urged students to challenge the status quo, made a moral case against online gambling and extolled Republican virtues during a talk about leadership Monday at the University of Nevada, Las Vegas.
Adelson, the CEO of Las Vegas Sands and the ninth richest man in the world according to Forbes magazine, was part of the school's "Conversations on Being Successful" series. The company's president and chief operating officer, Michael Leven, also spoke.
Ader Highlights ‘Case for Change’ at Bwin.Party: Current Board on ‘Destructive’ Path
Activist investor Jason Ader of SpringOwl on Monday made available its initial presentation highlighting the need for change at Bwin.Party, one of the largest online gambling firms in the world.
George Clooney, Steve Wynn Feud Grows More Intense
Las Vegas casino magnate Steve Wynn insists he did not call US President Barack Obama an “a**hole” during a heated argument last month while having dinner with Hollywood actor George Clooney.
Churchill Downs Boycott May be Taking Hold as Kentucky Oaks Handle Dips
This year’s Kentucky Oaks handle fell nearly 6% as revealed by Churchill Downs Saturday, making some wonder if a much publicized call to boycott Churchill Downs is starting to have some negative impact.
Steve Wynn Wins $7.5 Mil Judgment Against ‘Girls Gone Wild’ Founder
CARSON CITY, Nev. — (Associated Press) - The Nevada Supreme Court has upheld Steve Wynn's $7.5 million judgment in a civil defamation case against "Girls Gone Wild" founder Joe Francis.
Boyd Gaming Narrows 1Q loss Thanks to Positive Vegas Results
LAS VEGAS — (Associated Press) - Boyd Gaming reports its first-quarter loss narrowed thanks to improvements in Las Vegas casinos and excitement in the city's redeveloping downtown.
The casino operator reported Wednesday that it lost $6.2 million, or 6 cents per share, for the period ending March 31. A year earlier it lost $7.3 million, or 7 cents per share.
Net revenue of $708.3 million fell nearly 4 percent from $735.6 million during a year ago.
Top Horse Trainer Agrees: Boycott Churchill Downs!
Momentum is building for a fan boycott of Churchill Downs, the iconic horse racing track in Louisville, Kentucky, USA, where the world-famous Kentucky Derby is annually run and will be again this Saturday.
UK Tightens Rules on High Street Betting Shops
LONDON - (Reuters) - Britain is tightening controls on the spread of betting shops and the high stakes gambling machines that account for a growing part of their business, the government said on Wednesday.
Britain has a well developed gambling industry and betting shops have been a feature of the high street for more than 50 years after they were legalised in the early 1960s.
However, public concern has been growing over clusters of shops housing machines on which gamblers can stake up to 300 pounds ($510) per minute playing games such roulette.
How to Fund an Online Betting Account in New Jersey: Firm Claims It’s Been Tough
Wayne Parry, New Jersey-based Associated Press writer, reports that funding an online betting account in the Garden State has not been easy despite the activity being legal for nearly 6 months now.
Funding by credit card has been among the most difficult.
