Business/Financial
Gree Inc Brings Down Japan’s Nikkei as Agency Clamps Down on Gambling
Japan's Nikkei share average fell 1.5 percent on Wednesday to a fresh three-month closing low as concerns grew that Greece could reject its hard-won bailout deal with international lenders that saved it from a disruptive bankruptcy. But it wasn’t all about Greece. A gambling clampdown also played a major role in Wednesday’s poor showing.
BetFred Founder Fred Done on Short List for Ernst & Young’s Entrepreneur Of The Year award
The colorful founder of UK online gambling firm BetFred.com, Fred Done, is appearing on the short list of Ernst & Young’s Entrepreneur of the Year.
26 individuals from 23 Northern UK companies will be competing for the coveted award in Manchester on June 26.
The awards recognize those who have built and lead successful businesses.
Las Vegas Sands Revenues More Than Double Thanks to Macau
Casino operator Las Vegas Sands Corp's first-quarter profit more than doubled, beating Wall Street estimates, helped by increased revenue from Asia. Revenue for Sands China Ltd jumped 25 percent to $1.45 billion.
Las Vegas Sands Corp is overseen by billionaire Sheldon Adelson, the man behind GOP Presidential candidate Newt Gingrich’s super PAC.
The deep-pocketed chairman Sheldon said he doesn’t believe the gaming operator’s prospects in Macau and Singapore will flatten out.
“The word plateau, in terms of Asia, is not in our vocabulary,” Adelson said.
Zynga First Quarter Performance Tops Estimates
(RTTNews.com) - Zynga Inc. (ZNGA) Thursday reported a swing to loss in the first quarter as it continued to incur hefty stock-based compensation expenses. Nonetheless, the online social games developer posted a 32 percent jump in quarterly revenue on strong bookings growth.
Excluding items, the company recorded a profit for the quarter. Both earnings and revenue for the quarter topped Street estimates.
Investors Unnerved by Playtech Planned Acquisitions: Shares Fall
(Reuters) - Playtech, the world's biggest provider of online gaming software, plans a string of acquisitions as it branches out into the social gaming market but news that it will be buying the businesses from its main shareholder unnerved investors.
The Estonia-based firm said on Tuesday that it planned to spend 95 million euros ($124.1 million) buying assets owned by Israeli billionaire Teddy Sagi who founded Playtech and still owns a 48 percent stake in the company.
William Hill to Open Talks With Playtech Following Tel Aviv Debacle
(Reuters) - William Hill (WMH.L) is to open talks with Playtech (PTEC.L) this month to try to salvage the companies' joint online venture following a breakdown in relations last year, the Financial Times reported on Monday.
Barron’s Maintains ‘Neutral’ Position on Shuffle Master
Following its announced intention to acquire the world’s 5th biggest Internet poker network by year’s end, OnGame, Shuffle Master has positioned itself at the forefront of a regulated US online poker market assuming either state or federal legislation becomes a reality.
Still, Barron’s has decided to maintain a “neutral” position regarding Shuffle Master.
Zynga Stocks Fall After 4th Quarter Disappointment
NEW YORK (AP) — Investors sold off shares of Zynga on Wednesday after the company behind the most popular Facebook games fell shy of high expectations for its first earnings report as a publicly traded company.
Zynga Inc. of "FarmVille" and "CastleVille" fame reported better fourth-quarter results than what Wall Street was expecting, at least according to the average estimate compiled by FactSet. But Barclays analyst Mark May said the results fell short of some recent, more bullish expectations.
Zynga Adds Bingo Game to Facebook
Gaming powerhouse Zynga has just introduced a brand new Bingo game.
The new Zynga bingo game is played like traditional bingo, Where one tries to get five consecutive numbers in a row or all four corners.
Bingo is one of the most successful games in the real cash world of online gambling. Its introduction follows news that Zynga is exploring opportunities to enter the real cash online gambling foray once the industry becomes legalized in the US.
Zynga also employs the social networking aspect of Facebook with features such as real time chat and themed rooms.
Zynga Named Among Worst Performing US IPOs of the Year by Forbes
Zynga, which operates the largest online poker room in the world, was named among the worst performing IPOs of the year 2011 by Forbes.com.
There may be good reason for the Forbes rating. Zynga broke below its offering price on its first day out and remains underwater.
To be fair, Zynga has hardly had a chance to perform after the IPO came into being just prior to the Christmas holiday season.
From Forbes.com:
Shufflemaster, OpenBet Apply for Nevada Online Poker License
CardPlayer.com is reporting that Shufflemaster, the global supplier of automatic card shufflers, slot machines and, more importantly, wireless gaming solutions, has applied for a license to operate an online poker venture in the state of Nevada.
Nevada is set to begin allowing intrastate online poker as early as February ahead of potential federal legislation.
Ladbrokes Ends Acquisition Talks With Sportingbet
Ladbrokes and Sportingbet announced on Monday the two gambling firms have terminated merger talks as part of a mutual agreement.
A statement from Sportingbet on Monday said: “The boards of Sportingbet and Ladbrokes agreed to end discussions as the parties were unable to agree either a suitable structure or one that delivered sufficient value to shareholders in a meaningful time frame.”
Betfair’s Mixed Bag Following Expected Drop in 1st Quarter 2011 Revenue
Sportingbet Trading on London Stock Exchange Suspended
One of the largest online sports betting firms in the world, Sportingbet, has suspended trading on the London Stock Exchange.
Watch Those Online Gambling Shares on Wednesday With Full Tilt Poker Still in Limbo
Las Vegas Sands Posts $367.6M Profit in Second Quarter
By Associated Press
Coral Welcomes Andy Hornby as New CEO
Andy Hornby has begun his reign as Chief Executive of Coral, one of the world’s biggest bookmakers.
It had taken the firm nearly a year to replace former CEO Nick Rust, who departed for Ladbrokes.
Will The Sun on Sunday Replace The News of the World? Victor Chandler has Odds
PokerStars Lands Former Disney Exec
Mickey Mouse’ old boss, Eric Hollreiser, is now working for the world’s largest online poker room, PokerStars.
The company made the announcement on Thursday that it had hired Hollreiser as Head of Corporate Communications. Hollreiser comes to PokerStars after holding executive positions at Disney and Microsoft. He joins the firm at a time of transition following the indictment of two PokerStars executives by US authorities on April 15.
PartyGaming Share Price Shoots Up 11.4% on News of Full Tilt Poker’s Like Demise
Rank Group Vulnerable to Potential Takeover, Delisting on Stock Exchange
Betfair Share Price Plummets 47 Percent: CEO David Yu to Step Down
Las Vegas the New Detroit?
With a foreclosure crisis that has been out of control in recent years, Las Vegas may quickly spiral to become the new Detroit.
Las Vegas Falls to Number 3 Behind Macau, Singapore of top Gambling Destinations
Las Vegas is now the number three gambling destination in the world, falling behind Macau and Singapore
Las Vegas continues to lose some serious ground to its Asian counterparts, more specifically Macau and Singapore. While Macau has been blowing Sin City out of the water in recent years, Singapore has just claimed the number two spot of top gambling destinations this week.
FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY E-GOLD
FORFEITURE COMPLAINT FILED AGAINST ACCOUNTS MAINTAINED BY
E-GOLD, LTD, TRACEABLE TO CRIMINAL OFFENSES
Baltimore, Maryland - A civil forfeiture complaint was filed today for the forfeiture of the value of all e-metal accounts recorded and maintained by e-gold, Ltd (EGL ), a company that was engaged in the business of exchanging traditional forms of currency for precious metals held in electronic form (“e-metals” or “e-gold”) and settling payer initiated transfers of e-metals from one customer account to another.
Spirit Airlines Keeps Las Vegas Fares Low in Key Markets
Spirit Airlines manages to keep fares to Las Vegas out of Los Angeles, Dallas super low compared to nearby markets
Dow Hits Lowest Point on Year
The Dow and S&P 500 hit its lowest mark for 2011 on Wednesday.
The Dow Jones industrial average (INDU) fell 280 points, or 2.2%.
