Gambling Companies
Gambling Companies, Gambling Stocks
Fuggedaboutit Jason Ader: Four Reasons Why Vegas Won’t Get an MLS Team
As reported by Gambling911.com during the early morning hours of Wednesday, Bwin.party activist investor Jason Ader has announced his plans to bring a Major League Soccer franchise to Sin City.
Mississippi Gambling Revenue Steady After Harrah’s Closure
JACKSON, Miss. (Associated Press) - Gambling revenues tumbled in Mississippi's river region in the first month after Harrah's Tunica Hotel & Casino closed, but the trend didn't worsen much. Meanwhile, Gulf Coast casinos posted their best June in years.
State figures show casinos statewide won $174 million from gamblers in June, up less than 1 percent from June 2013.
The 18 river casinos won $78.7 million, down 12 percent from a year earlier. The 12 coastal casinos won $95.7 million, up 13 percent from June 2013.
Bwin Activist Investor Jason Ader Wants to Bring Major League Soccer Team to Vegas
An activist investor at one of the world’s largest online gambling firms Bwin.party is floating the idea of bringing a Major League Soccer team to the gambling Mecca of Las Vegas.
WSEX.com Founder Jay Cohen Assets Sought Ahead of Possible Lawsuit
Gambling911.com intrepid reporter Thomas Somach has learned that an Ohio man who plans to sue now defunct World Sports Exchange (WSEX.com) founder Jay Cohen for almost $70,000 owed plans to hire an investigative team to locate the ex-convict’s assets believed to be hidden around the world.
Cohen served nearly two years behind bars for his role in running World Sports Exchange. Last year, co-owner Steven Schillinger gave new meaning to the term “deadbeat” when he blew his brains out, at the time owing countless numbers of customers well over a million dollars.
Sands Sees Slower Than Expected Earnings: Shares Sent Reeling
Sands Las Vegas reported slower-than-expected revenue growth from its Macau operations resulting in second-quarter adjusted earnings that were $0.04 below the consensus of $0.89.
Sands traded recently at $73.02, down about one percent.
The casino company’s competitors shares were adversely affected as a result of the poor performance.
Wynn Resorts was down 1.4 percent Thursday. Wynn is expected to post second-quarter earnings in August of $1.97 per share on revenue of $1.44 billion.
Melco Crown Entertainment was also down 1.4 percent.
Online Poker Comes to California Courtesy of Iipay Nation
Forget waiting around another 10 years for online poker to become legalized in the world’s 8th largest economy. One California Tribe is moving ahead, with or without legislation.
The Iipay Nation of Santa Ysabel established Santa Ysabel Interactive and launched the I-gaming poker website Private Table at www.privatetable.com to offer Class II gaming to customers through Internet servers located on tribal lands, according to a press release issued by that Tribe.
Another One Bites the Dust: Trump Plaza Latest AC Casino to Close
They are falling like dominoes. Yet another Atlantic City has announced its intention to shut down. This time it’s the Trump Plaza.
Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors on Sept. 16, immediately following the busy summer season.
Industry observers had predicted that the seaside gambling resort could lose as much as one quarter of its casino properties by year’s end.
Las Vegas Sands Sued for $5 Billion: Accused of Misappropriating Funds
HONG KONG — (Reuters) A former Macau business partner of Las Vegas Sands Corp. accused the casino operator of misappropriating trade secrets and is suing the company for at least $5 billion in profits that it says are owed via their joint ownership of copyright related to a casino license bid.
Asian American, headed by Taiwanese businessman Marshall Hao, filed the complaint in U.S. District Court in Nevada on Wednesday. The case is in addition to two separate, ongoing legal actions in Macau over an alleged breach of contract.
Ultimate Poker Leaving New Jersey Market?
It’s no secret that online poker in the state of New Jersey has underperformed.
Ultimate Poker, one of a handful of online gambling firms licensed by the New Jersey Gaming Commission, announced on Friday September 19, 2014 it would be leaving the New Jersey online gambling market after the Taj Mahal announced pending bankruptcy.
Robert Dellafav of OnlinePokerReport.com predicted the exit earlier this summer.
888 Holdings Forecasts Strong Earnings: Shares Rise 5 Percent
Shares in 888 Holdings rose 5 percent Wednesday on news that it was expecting a significant surge in interim earnings.
Little additional information was provided by the FTSE 250 company other that saying “continued to deliver a very strong performance and anticipates announcing ebitda for the period significantly ahead of the comparable period in the prior year”.
Maryland Casinos See 8.4 Percent Increase in Gambling
(Associated Press) - Maryland's casinos are reporting gambling revenue of $72 Million for the month of June, up 8.4 percent from the same period last year.
Numbers released this week by the state Lottery and Gaming Control Agency show that the Maryland Live casino near Arundel Mills mall accounted for $56.5 million of the total, an increase of 10 percent from last June.
Rocky Gap Casino Resort in Cumberland reported the largest year-over-year increase, with gambling revenue up 50 percent compared to last June.
Breaking News: Amaya Considers London, New York for Secondary Listing
(Reuters) - Canada's Amaya Gaming Group Inc is working towards a secondary listing, either in London or in New York, the online gambling company's head told the Times on Saturday.
The company was weighing the benefits of a dual listing, but had not finalised which city it would be in, the daily quoted Chief Executive David Baazov as saying.
Amaya Gaming could not immediately be reached for a comment outside of regular business hours.
How Regulated Gambling Can Boost the Economy
In recent years, there has been a lot of focus on the potential impacts of a legalised worldwide gambling market. As more and more countries and U.S. states start to regulate the market to their residents, there have been calls from both critics and supporters of its possible effects.
One major argument for supporters is the major boost real-money gaming can provide to the economy. Since back in 1850, when gambling was legalised in Macau, governments have been reaping the benefits of a licensed gaming industry.
Aria Ordered to Pay $100k for Barring Agents
LAS VEGAS – (Associated Press) - A Las Vegas Strip casino has agreed to pay $100,000 to settle allegations that a supervisor shooed away state agents who were watching a high-stakes roulette table, even though state law requires all gambling to be open to the public.
The Nevada Gaming Control Board released the proposed settlement with Aria Las Vegas this week. The agreement must be approved by the Nevada Gaming Commission.
Macau Revenue Dips: First Decline in More Than Four Years
(Reuters) - Gambling revenue in Macau fell 3.7 percent in June on an annual basis, the first decline in more than four years, with analysts saying the soccer World Cup had diverted gamblers and their hefty bets away from the world's largest casino hub.
The southern Chinese territory of Macau, a special administrative region, like neighbouring Hong Kong, is the only place in the country casino gambling is legal.
Atlantic City's Competition Forces Makeover
In the old days, Atlantic City had legal gaming to itself on the Atlantic Seaboard and in typical fashion people thought that would always be the case. But casinos owned by Native Americans opened.
Pennsylvania approved gaming and gave Philly-area gamblers a choice of staying on their side of the river or paying a toll to ride across New Jersey to a town many people don't think is safe. They have gaming to the south too.
Gambling911.com World Exclusive: Man to Sue Jay Cohen for Money Owed by WSEX
A man who is owed nearly $70,000 by now-defunct online sportsbook World Sports Exchange tells Gambling911.com in a world exclusive interview that he intends to sue World Sports Exchange former co-owner Jay Cohen for the owed funds.
Luis Suarez Loses Sponsorship Deal With 888 Poker
(Reuters) - Poker brand 888 has cancelled its sponsorship deal with Luis Suarez after the Uruguay striker was banned from all soccer-related activity for four months for biting an opponent during a World Cup match.
Suarez, one of the most talented but controversial players, lit up the English Premier League last season with club side Liverpool and became one of the online gambling company's brand ambassadors only last month.
Nevada Gaming Revenues Up 8 Percent in May
LAS VEGAS (Associated Press) - State officials say Nevada gambling revenue was up 8 percent in May compared with the same month last year.
The Nevada Gaming Control Board reported Friday that the state's casinos brought in $970 million last month. Las Vegas Strip gambling revenue was up 17 percent to $593 million, while downtown revenue was down 8 percent to $39 million.
Reno casino revenue was up 4 percent in May to $52 million, and South Lake Tahoe gambling revenue was up 18 percent to $17 million.
888.com Reviewing Luis Suarez Sponsorship Deal Following Bite Incident
Online gambling firm 888.com is said to be reviewing its sponsorship deal with disgraced footballer Luis Suarez. The payer is accused of biting Italy’s Giorgio Chiellini during a Group stage elimination game that saw Uruguay advance.
On Thursday FIFA ruled that Suarez will undergo a nine-game ban from international play, which includes any remaining games at this year’s World Cup.
Bwin.Party on Verge of Breaking Up?
The party might be over for Bwin.Party. Rumors surfaced this week that the world’s largest publicly traded online gambling firm is on the verge of breaking up.
The company on Thursday denied it was breaking up or looking for a selling but said it was examining ways to increase shareholder value.
Harrah’s Fined for Underage Drinking in AC
(Associated Press) - Two Atlantic City casinos have been fined a total of $66,000, with the bulk of the fines levied against Harrah's Resort Atlantic City for letting underage patrons gamble and drink.
Harrah's was fined $60,000 by the New Jersey Division of Gaming Enforcement for five incidents involving patrons ranging in age from 18 to 20. The minimum age for gambling and drinking in New Jersey is 21.
In one instance, Harrah's let a 20-year-old from New York play blackjack even after a security guard checked his ID.
Verdict Upheld Against ‘Girls Gone Wild’ Founder in Wynn Slander Suit
LOS ANGELES (Associated Press) — An appellate court on Monday upheld a $19 million judgment against "Girls Gone Wild" founder Joe Francis in a slander case filed over his claims that casino mogul Steve Wynn had threatened to kill him.
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The California 2nd District Court of Appeal in Los Angeles found no basis to overturn the judgment or order a new trial, and the justices also left in place an injunction barring Francis from repeating the claims.
California Tribes Worry PokerStars Might ‘Cut Their Throats’
With Gambling firm Amaya announcing the purchase of the world’s largest online poker room, PokerStars, earlier this month, the firm hopes to enter the California Web gambling market. Not so fast.
Resorts International Inks Deal With Sportech: Could Join Forces With PokerStars
ATLANTIC CITY — (Associated Press) - An Atlantic City casino that was thwarted in its efforts to join the Internet gambling market is preparing to get in the game.
Resorts Casino Hotel announced partnerships late Friday with European firms Sportech and NYX Gaming to offer Internet gambling.
They will join PokerStars and Full Tilt Poker to form an online betting option that could rival New Jersey’s market leaders, Borgata and Caesars Interactive.
NJ's Bankrupt Revel Casino Gets Cash Lifeline to Hunt for Buyer
CAMDEN, N.J., (Reuters) - Atlantic City's bankrupt Revel Casino Hotel has received court approval to borrow $23.9 million that it said would keep the 1,400-room resort operating for the coming month as it scrambles to find a buyer.
Revel filed for Chapter 11 bankruptcy Thursday afternoon and rushed to court early on Friday for a slew of court orders it said were vital to pay its 3,140 employees, soothe nervous vendors and honor programs that provide gamblers with key perks.
PokerStars Commits Its Future to the Isle of Man in Wake of Amaya Takeover
The Department of Economic Development has welcomed the announcement that PokerStars has committed its future to the Isle of Man following its planned takeover by Amaya Gaming Group Inc.
General Counsel to the Rational Group of Companies Paul Telford wrote an open letter to the Chief Minister reiterating the company’s commitment to the Isle of Man.
Leonard Singer MHK, the Department Member with responsibility for e-Business said:
Pay Per Head Companies and Performance Reports
One of the biggest keys to running any type of business is to know the numbers inside and out. Just as a sports handicapper breaks down a particular matchup to uncover an edge in the betting lines for the game, as a bookmaker you need to constantly break down your business’s numbers to turn a profit on a regular basis.
Esquire: How Sex, Drugs and Gambling Can Help Boost a Nation’s Economy
Esquire Magazine’s digital edition featured an article Wednesday on how sex, drugs and gambling can actually help a nation’s economy.
They offer up a few strong examples.
When we think of sex and drugs and tourism, Amsterdam is typically the first thing that flashes in our minds.
