Business & Financial Most Wanted for Week Ending May 18, 2009

Who or what company made the headlines this past week on the pages of as it relates to the gambling industry?  Find out as we break down the most popular industry-related stories.

Submitted by C Costigan on, May/18/2009

2009 Preakness Stakes Betting, Traffic Up

Despite lower attendance at Pimlico Race Course, betting on the 2009 Preakness Stakes was way up.

More than $59 million was bet, compared with $45 million last year, John B. Franzone, head of the Maryland Racing Commission, stated.  Attendance was cut by 30 percent compared to last year, down to 77,850.  Much of this was attributed to a ban on spectators bringing their own beverages.

State racing officials deemed the race a financial success for the state.

Submitted by C Costigan on, May/18/2009

Ladbrokes: Online Poker in Australia Very Bad

According to the Interactive Gambling Act, online poker sites geared towards Australian ci

Submitted by Alistair Prescott on, May/15/2009

Pacquiao-Hatton Pay Per View Numbers Very Good

There has been much speculation as to why the Pay Per View numbers for the May 2 Pacquiao-Hatton fight were taking so long to be published.  This was after all the most bet on boxing much of the y

Submitted by Tyrone Black on, May/14/2009

Paddy Power Moves Into Australian Market

Paddy Power has begun its expansion into the Australian gaming market with its acquisition of a major stake in one of Australia's largest corporate bookmakers.

The company invested €27.2 million in a 51 per cent stake in Sportsbet as part of development strategy to expand into international markets. 

The acquisition, if approved by regulatory authorities, will be completed at the beginning of July. 

Submitted by Guest on, May/14/2009

Crown Casino Expansion Will Be Massive

Thanks to the Victorian Government allowing Crown Casino to grow in exchange for an estimated $60 million in extra tax revenue over four years came on the day of the Federal Budget

Submitted by Alistair Prescott on, May/13/2009

Online Gambling at a Crossroads in Australia

Australia's wagering industry is at the crossroads, reports the Sydney Morning Herald.

Submitted by Alistair Prescott on, May/12/2009

Tread Cautiously When it Comes to Online Gambling Bill

The UK press is warning publicly traded UK betting firms that the latest bill introduced by Congressman Barney Frank last week is anything but a sure bet.

Submitted by C Costigan on, May/12/2009

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.   

Submitted by Jagajeet Chiba on, May/11/2009

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

Submitted by Jagajeet Chiba on, May/11/2009

Delaware House Approves Revised Gambling Bill

USA Today reports that the Delaware legislature took the first step toward establishing sports gambling in the state, approving a bill early Friday morning that was opposed by every major sports le

Submitted by Payton on, May/08/2009

Las Vegas Sands Losses Mount

LAS VEGAS (AP) - Casino operator Las Vegas Sands Corp.

Submitted by Guest on, May/06/2009

Kentucky Derby Hangover After Record Numbers

What recession?  That's what some of us around here at are asking - at least when we look at this past weekend's Kentucky Derby figures....what we have of them.

Preliminary stats show that the Derby brought more traffic through the website, however, final server stats were not immediately available on Sunday as the total had not been fully added up by the scheduled report time.  

Submitted by C Costigan on, May/03/2009

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 was see

Submitted by C Costigan on, May/01/2009

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

Submitted by Guest on, Apr/30/2009

William Hill Sees Double Growth in Online Business Despite Recession

The United Kingdom's second largest bookmaking operation is reporting a 50 per cent rise in revenue from its online gambling arm over the past year.  These figures come as the company recorded an

Submitted by Jagajeet Chiba on, Apr/30/2009

Minnesota Regulators Try to Block Access to Gambling Sites

Using a 1961 federal law designed to stop illegal gambling, the state has directed 11 telephone and Internet service providers to block nearly 200 gambling Web sites.

Submitted by Payton on, Apr/29/2009

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. 

Submitted by C Costigan on, Apr/28/2009

James Packer’s Crown Casino Gives Up on Las Vegas

James Packer's Crown has ruled out injecting more cash into the stricken US casino development company Fontainebleau Resorts after the US company's banks withdrew financing for a $US3 billion ($4.2

Submitted by Guest on, Apr/27/2009 Abruptly Scraps Plans to Attend 2009 WSOP

In a sign of the worsening economy,, 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). 

Submitted by Guest on, Apr/27/2009

William Hill Intends to Move Jobs Offshore

In a blow to the British government, the number two largest bookmaker, William Hill, has threatened to move approximately 90 jobs in the Internet division offshore. 

Bookmakers warned the chancellor, Alistair Darling, before the Budget that increases in gross profits tax on betting would stifle competitiveness, particularly for their online businesses, and force them to consider relocating staff, according to the Financial Times of London.

Last week, Darling increased the GPT on bingo from 15 per cent to 22 per cent.

Submitted by Jagajeet Chiba on, Apr/27/2009

James Packer’s Las Vegas Nightmare Just Got Worse

James Packer's largest investment in the gambling mecca is in dire straits after a US casino development company in which his Crown had invested defaulted on $US800 million in loans.

Submitted by C Costigan on, Apr/26/2009

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

Submitted by Jagajeet Chiba on, Apr/26/2009

Pagebet Shuts Down Operations

BOOKMAKERS Pagebet has placed its internet betting business into administration.

Submitted by Guest on, Apr/25/2009

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.

Submitted by C Costigan on, Apr/24/2009 Names Will Griffiths to Top Marketing Spot, one of the fastest growing online poker rooms open to US players, announced today the appointment of Will Griffiths to the post of Marketing Director.

Submitted by Guest on, Apr/23/2009 Sponsors MMA Magazine Program on Rogers Sportsnet


- continues to build strong ties with the explosively popular world of Mixed Martial Arts ("MMA"), as the leading free play online poker site debuts as

Submitted by Payton on, Apr/23/2009

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

Submitted by C Costigan on, Apr/23/2009

Another Gambling Firm Files for Bankruptcy

Evergreen Gaming has filed for bankruptcy it was reported on Tuesday.  The Canadian-based firm did so after

Submitted by Jagajeet Chiba on, Apr/22/2009

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.

Submitted by Jagajeet Chiba on, Apr/20/2009

Breaking News

13 Years Later Wife of Online Gambling Tycoon on Trial for his Murder

13 Years Later Wife of Online Gambling Tycoon on Trial for his Murder

Adam Anhang was stabbed to death while walking with his wife in the bustling tourist-infested Old San Juan section of Puerto Rico's largest city in broad daylight.

Can I Bet on FoxBet From Illinois

Can I Bet on FoxBet From Illinois

FoxBet is not yet available in the state of Illinois.  There are other great alternatives, including Jazz Sports, which has been in business since 1994

How do I Start My Own Sportsbook Business Legally? Can it be an LLC?

How do I Start My Own Sportsbook Business Legally? Can it be an LLC?

While it is true that you can, in theory, operate your sportsbook business as an LLC, you will need to pay all your taxes and maintain proper records. It's probably also wise not to file your company name as "Joe's Bookmaking Business".