Business & Financial

BetFred to Slash Employee Salaries in Half: Some Will Have to Sell Their Homes

At least they waited until after Christmas to play Scrooge but the powers-that-be at British bookmaker have announced employees will soon have to endure a 50 percent cut in their salaries.

Submitted by Jagajeet Chiba on, Jan/09/2014

Shares in William Hill, Ladbrokes Plunge Over Fixed-Odds Machine Vitriol

Shares in the UK’s two biggest betting firms, William Hill and Ladbrokes, dropped 7 percent and 9 percent, respectively, Thursday following Prime Minister David Cameron’s assertion that fixed-odds machines need to be curbed.

The machines have been dubbed the “crack cocaine of gambling” by campaigners.

Cameron said he "absolutely shares the concerns" raised over the “epidemic” of fixed-odds terminals.

Submitted by Aaron Goldstein on, Jan/09/2014

Cantor Could Pay Over $2 Million in Damages Resulting From Colbert Indictment

Cantor Gaming, which changed its name to CG Technologies this week, has agreed to pay over $2 million under a tentative settlement reached over the weekend with the Nevada Gaming Control Board, according to the Wall Street Journal.

Submitted by Aaron Goldstein on, Jan/09/2014

76ers, Devils Ink Online Gambling Sponsorship Deal

NEWARK, N.J. (Associated Press) — The Philadelphia 76ers of the NBA and the New Jersey Devils of the NHL have become the first major U.S.-based professional teams to sign a sponsorship deal with an online gambling company.

Submitted by Associated Press on, Jan/08/2014 World Exclusive: Americas Cardroom Now has Bitcoin Option

As first reported by Monday, the biggest online poker room to date will begin offering bitcoin deposit and withdrawal options.  Depositing via bitcoin will be available as of today (January 8, 2014).  Withdrawal availability will follow shortly.

Submitted by C Costigan on, Jan/08/2014

World Poker Tour Makes ‘Monster’ Mistake Says Caro: Fury Over Headphones

Legendary poker pro and strategy expert Mike Caro believes that the World Poker Tour may have just made a “Monster” mistake. 

Submitted by Ace King on, Jan/07/2014

Maryland Live Casino Enjoys Huge Success in 2013

Maryland Live, the Old Line State’s largest casino, generated a whopping, according to the Maryland Lottery and Gaming Control Agency.  

The casino began offering the table games last April.

Submitted by Aaron Goldstein on, Jan/07/2014

Hedge Fund Billionaires Take Stake in Caesars Online Gambling: Take on Adelson

Three billionaires against one: George Soros, John Paulson and Leon Cooperman have reportedly taken a stake in Caesars Acquisition Co, the online gambling spinoff of the Vegas giant.  ((Image credit: Steve Brodner)

Submitted by Gilbert Horowitz on, Jan/07/2014

Nevada Gaming Control Board Files 18-Page Complaint Against Cantor Gaming

The Nevada Gaming Control Board (NGC) has filed an 18-page complaint against Cantor Gaming following a lengthy investigation.  A former director of the company was indicted by US law enforcement in late 2012 for his role in an illegal sports betting venture and pleaded guilty to one count of conspiracy this past summer. Read Complaint Here

Submitted by Gilbert Horowitz on, Jan/07/2014

Biggest Online Poker Room Yet to Begin Offering Bitcoin – G911 Exclusive has confirmed that one of the world’s largest online poker networks is set to begin offering the anonymous online currency bitcoin as early as this week.

This room will also convert bitcoins to cash on their end to minimize the risk factor for players, we have been advised.  Until now, players have been relegated to online poker rooms that were either new to the seen or only offered bitcoin exclusively as a deposit or withdrawal method. 

Submitted by Nagesh Rath on, Jan/06/2014

PartyPoker Borgata to Surpass Merge Poker Network by Mid January

Another sign of just how successful online poker in the state of New Jersey has become: PartyPoker Borgata is set to surpass Merge Gaming and the Chico Poker Network’s traffic in the US.

Both Merge and Chico operate offshore and accept customers from most US states.  PartyPoker Borgata has a little ways to go before catching up to surging Winning Poker Network (home to Americas Cardroom) and top 10 traffic site Bodog Poker.

Submitted by Ace King on, Jan/06/2014

Paddy Power Takes Swipe at ‘Fat, Lazy Footballers’ in ‘Ball of Shame’ Ad (Video)

Ireland’s largest bookmaker, Paddy Power, debuted its latest ad during this past weekend’s Arsenal v Tottenham FA Cup game on ITV.  The so-called “Ball of Shame” advertisement takes a swipe at “lazy, fat footballers”.

More specifically, the betting firm seems to take issue with aforementioned “lazy, fat footballers” also making millions of pounds (dollars).

Submitted by Alistair Prescott on, Jan/06/2014

Zynga Incorporates Digital Currency Bitcoin: Tops $1000

In recent days, social gaming company Zynga announced the adaptation of anonymous digital currency Bitcoin for some of its social games.

Submitted by Aaron Goldstein on, Jan/05/2014

Online Poker Affiliate Programs in New Jersey Won’t Allow Rakeback Deals

Many of today’s online poker affiliate programs offer rake back as a means of building a site’s business but rakeback offers will be prohibited in the state of New Jersey.

Such deals on the Web today tend to allow for between 25 percent to 35 percent rakeback and are typically administered by a third party such as poker room affiliates or dedicated rakeback websites.  Think of the rakeback system as similar to that of a casino comp program whereby gamblers are rewarded with comped rooms and food based on their volume of play.

Submitted by Patrick Flanigan on, Jan/04/2014

Robocoin Bitcoin ATM Arrives in Hong Kong, Taiwan: 50 Machines Sold

Robocoin, the first ever shipping ATM, has arrived in Hong Kong and Taiwan, thus helping to make the alternative payment solution even more mainstream. 

Submitted by Aaron Goldstein on, Jan/04/2014

Gaming and Leisure Properties, Inc. Declares a Special Dividend of $11.85 Per Share

$1.05 Billion Represents Accumulated Earnings and Profits Allocated to GLPI In Connection With Spin-Off From Penn National Gaming, Inc.

Submitted by Press Release on, Jan/04/2014

Online Gambling Exceeds Expectations for Borgata in Atlantic City (Video)

Appearing on CNBC's "Squawk Box", Tom Ballance, Borgata Hotel Casino & Spa president and COO, discussed the early success of legalized online gambling in the state of New Jersey for his casino. 

Borgata’s managing partner Boyd Gaming utilizes the PartyPoker platform.  It was one of two companies to get an early start launching in the Garden State.

Submitted by Aaron Goldstein on, Jan/03/2014

Glitches, Bugs Persist With New Jersey Online Gambling, Poker Sites

In just over one month, New Jersey’s launch of real money online gambling has proven a huge success with over 40,000 individuals having signed up to open accounts.

The process hasn’t always gone smoothly, however.

Case in point:  One reader wrote us to discuss his experience signing up with Caesars Online Poker, utilizing the popular platform.

Ralph P., a resident of Northern New Jersey, writes:

Submitted by C Costigan on, Jan/03/2014

Live Ace Online Poker Room Shuts Down

The short-lived Live Ace online poker room has shut down after a disastrous run utilizing a business model it claimed was within the proper legal framework for operating from the US.

Submitted by Ace King on, Jan/03/2014

Macau Casinos Hit Jackpot With $45 Billion in Revenues for 2013

HONG KONG — (Associated Press) - The tiny Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering $45 billion, further underlining its position as the world’s biggest gambling market.

Submitted by Associated Press on, Jan/02/2014

PokerStars: Closure of Atlantic Club Casino was Avoidable

This was not the greatest year for the world’s largest online poker room,

While it’s true they continue to amass the largest chunk of the Web poker landscape, Stars insistence on operating in the US market post 2006 prohibition has apparently come back to bite them in their respective ass.

Submitted by Ace King on, Dec/31/2013

MGM Files Final Application to Build $800 Mil Massachusetts Gambling Complex

BOSTON — (Associated Press) - MGM Resorts International, which hopes to build an $800 million gambling and entertainment complex in Springfield, became the first company in Massachusetts to file a final resort casino application Monday with state regulators.

Submitted by Associated Press on, Dec/30/2013

Wisconsin Lac du Flambeau Chippewa Tribe Looks to Enter Online Gambling Arena

After announcing it was in the process of entering the controversial payday loan business, Wisconsin’s Lac du Flambeau Chippewa tribe may be eyeing more lucrative business ventures, specifically online gambling.

Submitted by Gilbert Horowitz on, Dec/30/2013

Nevada Casino Revenues Up 12 Percent in November

LAS VEGAS (Associated Press) - State officials say Nevada gambling revenues went up nearly 12 percent this November compared with a year earlier.

The state Gaming Control Board released a report Monday showing casinos won $876 million in November.

Revenues jumped almost 23 percent year-over-year on the Las Vegas Strip, which brought in $529 million last month.

Downtown winnings fell 1 percent to $38 million.

Reno casino revenue climbed 17 percent to $43 million, while South Lake Tahoe winnings dropped 2 percent to $17 million.

Submitted by Associated Press on, Dec/30/2013

Chris Christie’s Bloated Estimates but Money for Online Gambling Keeps Flowing

While some critics and those in the media keep coming down on New Jersey Governor Chris Christie for his apparent overestimates of anticipated revenue and taxation derived from real money online gambling, few can say the new industry that kicked off late last month has been anything other than a huge success.

Submitted by C Costigan on, Dec/27/2013

Bet on Tokyo as Asia’s Next Gambling Mecca

(Reuters) - Asian countries are lining up to steal gaming business from heavyweight Macau. The tiny enclave on China’s south coast is the world’s gambling mecca: it took $38-billion (U.S.) in gaming revenue in 2012; hotels run at 87 per cent occupancy, according to official data, a shade better than Las Vegas. Yet casino operators are already looking for the next casino capital. Japan may fit the bill.

Submitted by Reuters on, Dec/26/2013

Doggone Shame: Millions of Bitcoin Alternative Dogecoin Stolen in Christmas Hack

The founders of Dogewallet, a storage system for the Bitcoin alternative Dogecoin, have confirmed a hack that may have cost owners of the currency over $12,000. Reports of the hack first began gathering pace at the Dogecoin forum, where users reported their funds were being sent to a wallet without their authorization. In separate posts on Reddit’s Dogecoin page and the front page, the founders explained the issue.

Submitted by Associated Press on, Dec/26/2013

Bally Technologies Gets Chastised by Gaming Board: Could be Fined

LAS VEGAS — (Associated Press) - Nevada gambling regulators say slot machine operator Bally Technologies failed to register some of its employees.

The Nevada Gaming Control Board filed a 28-count complaint against the company this week.

The complaint says that Bally registered its employees weeks, months, and in one case, years late. Nevada law requires gambling companies to register employees before they start work.

The board recommended that Bally be fined for each of the 28 counts. The company now has a chance to contest the complaint.

Submitted by Associated Press on, Dec/26/2013

PokerStars Eyes Online Gambling License in New York State

Following New Jersey’s rejection of a licensing application from the world’s largest online poker company, PokerStars, its parent company is now said to be looking at neighboring New York State.

While New York does not yet allow real money online gambling, that could all change.  PokerStars has reportedly begun hiring lobbyists to push for legalization in a state that this year embraced expansion of its brick and mortar casinos.

Submitted by Ace King on, Dec/26/2013

NJ Judge Approves Atlantic Club Shutdown

CAMDEN, N.J. (Associated Press) — A slowdown brought on by the rapid proliferation of casino gambling in the northeastern United States claimed its first victim in New Jersey on Monday when a federal bankruptcy judge approved the sale and shutdown of Atlantic City's Atlantic Club Casino Hotel.

The casino, which opened in 1980 as the Golden Nugget and featured then-owner Steve Wynn bringing fresh towels to Frank Sinatra in its commercials, will shut its doors Jan. 13.

Submitted by Associated Press on, Dec/24/2013

Breaking News

Ohio Mayor Pleads Guilty to Illegal Gambling, Racketeering

A former longtime northeast Ohio mayor accused of taking bribes in exchange for jobs and running an illegal gambling house has pleaded not guilty to numerous charges.

Lam Still on Lam as Philippines President Takes Aim at Casino Tycoon

Lam Still on Lam as Philippines President Takes Aim at Casino Tycoon

Philippines President Rodrigo Duterte has ordered the arrest of Jack Lam, one of Asia's top casino kingpins, on charges of economic sabotage and bribery, according to the country's police chief.

Sordid Lifestyle of Slain Aussie Mobster Revealed by Ex-wife

Sordid Lifestyle of Slain Aussie Mobster Revealed by Ex-wife

The ex-wife of slain Aussie mobster Pasquale Barbaro says he would read Bible verses to his children during the day and film naked escorts in the evenings.