Business & Financial

Indianapolis Airport Considering Wireless Gambling Technology

(Associated Press) - Phil Sicuso and Joe Champion say Indianapolis International Airport is well suited for wireless gambling technology that could bring in revenue to support more nonstop flights.

The pair work at Bingham Greenebaum Doll LLP and floated the idea in an article for their firm's newsletter, the Indianapolis Business Journal reported.

Submitted by Associated Press on, Oct/20/2013

Week 8 College Football Upsets Great for the Bookies

Bookies celebrated a series of Week 8 College Football upsets that helped boost profits as the betting public tended to back the more high profile favorites.

Ole Miss pulled off one of the week’s biggest upsets, beating LSU outright as a +10 underdog.  The Tigers now have two losses on the season.  The Rebels record coming into Week 9 is 4-3 following their three point home victory.

Submitted by Don Shapiro on, Oct/20/2013

Las Vegas Sands Earnings Beat 3rd Quarter Earnings

(Reuters) - Casino operator Las Vegas Sands Corp. , owned by billionaire Sheldon Adelson, on Thursday posted better-than-expected third-quarter earnings, boosted by positive trends at its Macau and Singapore operations.

The company, which operates the Venetian in Las Vegas, also said it increased its common dividend by 42.9 percent to $2 per share yearly, or 50 cents per quarter, for the 2014 calendar year.

Submitted by Reuters on, Oct/17/2013

Trump Casinos in Atlantic City Latest to be Granted Online Gambling Permits

(Associated Press) - The two Trump casinos in Atlantic City received their Internet gambling permits Thursday, as New Jersey regulators continued preparing for the launch of online gambling next month.

Trump Plaza and the Trump Taj Mahal got their Internet gambling permits and join the Borgata and the Golden Nugget among casinos approved to begin Internet gambling.

Online gambling will begin Nov. 26 in New Jersey after a five-day, invitation-only trial period.

New Jersey is the third state in the nation to offer online gambling, along with Nevada and Delaware.

Submitted by Associated Press on, Oct/17/2013

888 Holdings Anticipates Dramatic Revenue Rise in 2014 With US Web Gambling

(Reuters) - London- listed 888 Holdings is expecting to start to see the benefits from next year as a number of U.S. states ease a ban on Internet gambling.

888, which runs online gambling and poker sites, is already operating in Nevada, with markets in Delaware and New Jersey expected to go live in the coming weeks.

"In 2014, we should start to see some meaningful revenues come through," Chief Executive Brian Mattingley said, talking about prospects in the American market.

Submitted by Reuters on, Oct/16/2013

CAMS Names Former Nevada Gaming Control Head Mark Lipparelli Advisor

Los Angeles  – CAMS, LLC, the leader in providing online operators with payment connectivity and Know Your Customer (KYC) verification services, today announced that Mark Lipparelli has been engaged by the company as an advisor. The company will look to him for strategic guidance as they navigate the newly-regulated internet gambling industry.

Submitted by Press Release on, Oct/16/2013

Golden Nugget Obtains Second NJ Online Gambling Permit

The Golden Nugget is the second Atlantic City casino operator to be granted an Online gambling permit.

New Jersey anticipates launching its Web gambling industry on November 26 with real money play permitted by those physically located within the state’s borders.

Lisa Spengler, a spokeswoman for the New Jersey Division of Gaming Enforcement, said there is no competitive advantage to being issued a permit early as the launch date is the same for all casinos.

Last week the Borgata was the first casino property to receive a permit.

Submitted by Aaron Goldstein on, Oct/16/2013

Betfair Launches LetsPlayNJ.com for Web Gambling but Can’t Play Yet in Garden State

While New Jersey prepares to begin allowing online gambling by the end of next month, European powerhouse Betfair has mostly been left out in the cold.

Submitted by Ace King on, Oct/16/2013

Caesars Stock Price Slides 12 Percent: No Right to Online Gambling IPO

Caesars Entertainment Corp. has sold 10.3 million shares of its common stock to a Swiss banking firm for $200 million, resulting in a sharp 12 percent decline in its share price Tuesday (October 15).  This represents the biggest decline of the year so far.

The stock began trading without rights to participate in an IPO of the company’s online gambling unit.  Anyone purchasing the stock as of the 15th would not enjoy rights to the new unit.  Those already owning stocks in Caesars will be able to purchase Caesars Acquisition Co. stock.

Submitted by Aaron Goldstein on, Oct/15/2013

Anticipated Positive Results With This Week’s Sands Earnings Report

Las Vegas Sands (LVS) is expected to report its Q3 2013 earnings this coming Thursday October 17 and results should be positive according to Zacks Investment Research’ Steve Reitmeister.

Submitted by Aaron Goldstein on, Oct/15/2013

Casino Woes Continue in Atlantic City: Revenues Way Down

ATLANTIC CITY, NJ — (Associated Press) - Thousands of people came to Atlantic City to see Miss America last month, but not enough of them ventured into a casino to boost the gambling halls’ monthly revenue.

Atlantic City’s casinos saw their revenue fall by nearly 13 percent in September compared with the same month last year.

The city’s 12 casinos won $240.2 million from gamblers, a decline of 12.9 percent from September 2012.

Submitted by Associated Press on, Oct/15/2013

Return of Miss America Pageant to Atlantic City Doesn’t Boost Revenue: Costs $400k

Atlantic City, NJ – (Associated Press) - The return of the Miss America pageant to Atlantic City brought attention to the seaside gambling mecca and a boon to police and public works employees.

The Press of Atlantic City reports the pageant cost the city about $400,000 in overtime. The city’s business administrator tells the newspaper that some of the costs will be reimbursed, possibly by the state. But it isn’t known how much, or when.

Submitted by Associated Press on, Oct/14/2013

Woman Stiffed Out of $1 Mil Casino Prize: Casino Joins Her Suit to Recover Winnings

A woman has filed suit claiming she was stiffed out of winnings from an Oregon Tribal casino promotion. 

Beverly Mackey won the $1 million dollar grand prize in Tribal casino Chinook Winds’ Swipe, Play & Win promotion game.  The former home health care provider, who recently had heart surgery, has been denied the winnings.

Submitted by Gilbert Horowitz on, Oct/14/2013

Vault of Satoshi Offering Trades Between Fiat Currency and Bitcoin

A new Canadian exchange promises cheaper rates at 0.5 percent or below and an advanced API.

The Toronto-based Vault of Satoshi will offer trades between fiat currency and either bitcoin or litecoin, two anonymous digital currencies.

Submitted by Aaron Goldstein on, Oct/13/2013

PokerStars Live Macau Announces MPC20

Macau Poker Cup celebrates 20th installment with special HK $8 million guarantee for the Red Dragon Main Event

MACAU, CHINA – October 11, 2013 – ‘PokerStars LIVE Macau’ today announced its plans for the 20th installment of the Macau Poker Cup (MPC), which takes place from January 10-21, 2014.

In celebration of MPC20, the legendary Red Dragon Main Event has been given a massive HK $8 million (US $1 million) guarantee.

Submitted by Press Release on, Oct/11/2013

Borgata Claims First Internet Gambling Permit

(Associated Press) - On an otherwise cloudy day in Atlantic City, a bright spot of news: New Jersey's first Internet gambling permit has been issued to the Borgata in Atlantic City.

The New Jersey Division of Gaming Enforcement says the casino was the first to complete the application and must wait until Nov. 21 to actually make use of the permit.

On that date a 5-day trial period begins. If that goes well, state residents and visitors will be able to access Internet gambling on Nov. 26.

Submitted by Associated Press on, Oct/09/2013

Gamblers Betting on Twitter IPO Valuation

NEW YORK (Reuters) - Though Twitter's first day on the stock market is probably still months away, a handful of international gamblers aren't waiting for the official debut and are already laying bets on how much the social media site will be worth.

Initial public offering experts are floating a market capitalization for Twitter of around $10 billion, but bettors on the Irish gambling site Paddy Power give the shortest odds to it closing with a market cap 50 percent to 100 percent above that.

Submitted by C Costigan on, Oct/09/2013

William Hill Issues Profit Warning

(Reuters) - British bookmaker William Hill said a poor retail performance in its third quarter meant operating profit had fallen 20 million pounds ($32.5 million) below expectations, warning that shortfall may not be recovered by the year end.

Quiet trading in July helped push retail net revenue in the 13 week period to Oct 1 down 4 percent on an underlying basis, the firm said on Thursday, with gross margin wins falling 0.8 percentage points as football results went the way of customers.

Submitted by Reuters on, Oct/08/2013

Chris Moneymaker: Full Tilt Poker Likely to be Sold

PokerStars team pro Chris Moneymaker, the man credited for starting the online poker revolution, offered up a daring prediction regarding Full Tilt Poker’s future. 

Submitted by Ace King on, Oct/08/2013

BetOnline Releases More Info on Shocking 18-Team Parlay Win: Records Shattered

Panama City, Panama – Anyone who watched the Cowboys vs. Broncos game Sunday afternoon was surely on the edge of their seat. The Broncos won a back-and-forth slugfest, in which the teams combined for 99 points. As exciting as this game was for any viewer, nobody’s heart was pounding more than Brandon P. from the upper Midwest.

Submitted by Press Release on, Oct/08/2013

Last Minute Touchdown for Ohio State Cost Vegas Sportsbooks $100 Million

A last minute touchdown may not have changed the outcome of Saturday night’s Ohio State vs. Northwestern game, but for Vegas and online sportsbooks, it was a definite game changer.

Bookies in Vegas alone lost $100 million to overjoyed gamblers.  More than 90 percent of the bets were coming in on OSU.

Submitted by Don Shapiro on, Oct/07/2013

Somach: Online Poker Site CEO has No Fear of Being Arrested

Thomas Somach’s San Francisco Examiner piece on an Internet poker company operating right from San Francisco is now out.

Submitted by C Costigan on, Oct/06/2013

William Hill Issues Profit Warning

(Reuters) - British bookmaker William Hill said a poor retail performance in its third quarter meant operating profit had fallen 20 million pounds ($32.5 million) below expectations, warning that shortfall may not be recovered by the year end.

Quiet trading in July helped push retail net revenue in the 13 week period to Oct 1 down 4 percent on an underlying basis, the firm said on Thursday, with gross margin wins falling 0.8 percentage points as football results went the way of customers.

Submitted by Reuters on, Oct/04/2013

23500 Petitions Received for Full Tilt Poker Remission Process

Claims administration firm, Garden City Group (GCG), has completed the remission process for payments to Full Tilt Poker players. 

It was reported yesterday (October 1, 2013) that some 1.4 million emails have been received from those still owed money from Full Tilt Poker.  23,500 petitions were also processed.

Full Tilt Poker abruptly exited the US market on April 15, 2011 following a series of indictments.  Last year, the US Government settled with the company and began the process of determining payout distributions.

Submitted by C Costigan on, Oct/02/2013

Vegas Visitor Count Up Slightly in August

(Associated Press) - Tourism authorities say the number of visitors to Las Vegas went up slightly in August compared with last year.

The Las Vegas Convention and Visitors Authority reported Monday that about 3.4 million visitors came to town in August, up 0.9 percent from the same month last year.

The number of conventions and meetings held in Las Vegas in August was down 13 percent year-over-year.

Room occupancy ticked up slightly from last August to just more than 84 percent, and average hotel room rates ticked up more than 3 percent to $105 per night.

Submitted by Associated Press on, Sep/30/2013

PerHead Offers Live Dealer Casino

Per head businesses are no longer just about managing reports and providing online software for bookmakers and agents.  These businesses must stay competitive and one way to do this is to offer a whole suite of extras such as smartphone compatible platforms, live betting, full track horse racing, and even an online casino.

Submitted by C Costigan on, Sep/28/2013

Melco-Crown Entertainment to Invest USD 5 Billion in Japan Casino

Melco-Crown Entertainment, a joint venture between Macau casino tycoon Lawrence Ho and Australian gambling billionaire, James Packer, has announced plans to invest US$5 billion into a new casino resort in Japan.

Speaking to Bloomberg News, Ho state: "If Japan opens up and allows integrated resorts in Tokyo, Osaka, the market could easily be in excess of $10 billion to $15 billion or more."

US-based casino operators Wynn Resorts and MGM are also seeking to expand its casino empire in Japan.

Submitted by Aaron Goldstein on, Sep/28/2013

Ladbrokes Chief Head on Chopping Block: Shares Plunge 10 Per Cent

Ladbrokes shares fell nearly 10 per cent Thursday amidst news the UK’s second largest bookmaker’s operating profit would come nowhere near that of last year’s numbers.

Forecasts now call for between £10million to £14million this year compared with market forecasts of £27.5million.

Submitted by Aaron Goldstein on, Sep/26/2013

WagerWeb.com Affiliate Program Review: New Software Huge Improvement

Gambling911.com recently had a chance to test out the WagerWeb.com affiliate program software and absolutely love it.  This is a step up from the software they were previously using, which itself was much better than the industry standard. 

Submitted by C Costigan on, Sep/26/2013

US Online Gamblers Spent US$2.6 Billion in 2012

WASHINGTON—(AFP) - Americans spent US$2.6 billion on gambling websites in 2012, according to a study released Tuesday by the casino industry as it renewed a push for Congress to regulate online betting.

The American Gaming Association, which released the study, said it highlights the need for federal legislation to end the state of “ambiguity” on Internet wagering.

Submitted by Associated Press on, Sep/25/2013

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Senate Republicans Revive Legislation to Ban Online Gambling After Contribution

Senate Republicans Revive Legislation to Ban Online Gambling After Contribution

The contributions were made public on Sept. 20, per Federal Election Commission filings. The legislation was introduced Sept. 21.