Business & Financial

Matt Glantz: ‘Inevitable That Bernard Tapie Will be Backing Out (of Full Tilt Poker Deal)

Poker pro Matt Glantz provided his gloomy assessment of the future of Full Tilt Poker and those supposed white knights out of France, Groupe Bernard Tapie. 

“Unfortunately, I feel based on their recent actions, I believe it is inevitable that Tapie will be backing out. It looks to me that for whatever reason, they have no real interest in acquiring FTP. The reasons why they are hanging around giving the illusion that they are still interested are unclear.”

Submitted by C Costigan on, Feb/27/2012

Another Bitter Divorce for Steve Wynn: Okada Ousted

(Associated Press) - Billionaire Steve Wynn stepped up the feud with his former business partner Kazuo Okada on Friday by removing the Japanese tycoon from the board of his Macau casino company.

Wynn Macau's board voted to remove Okada following allegations he made improper payments to Asian gambling regulators, a violation of U.S. anti-corruption laws.

Wynn Macau said its board "resolved" to remove Okada as a non-executive director immediately because it was in the "best interests" of the company.

Submitted by Guest on, Feb/24/2012

William Hill Eyes US Entry

William Hill on Friday announced its expansion plans, and they include the lucrative US market.

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"Nevada is a land-based opportunity and we will see what happens in the US thereafter. But we first of all have to get these licenses and we expect that to happen some time this year," Hill CEO Ralph Topping said.

Submitted by Aaron Goldstein on, Feb/24/2012

Bally Technologies to Enter US Online Poker Industry: Acquires Chili Poker Platform

Bally Technologies announced Thursday it had acquired the popular Chili Poker software platform, giving it a major edge as online poker becomes legalized in the US during the next couple of months.

 

The transaction, however, does not mean Bally wants to launch it own Internet gaming website, according to the Las Vegas Review Journal

Submitted by C Costigan on, Feb/23/2012

US-Facing Online Poker Room Enjoys Accolades for ‘Fastest Payouts’: Sees Massive Growth

You’ve come a long way Baby!  Americas Cardroom back in its heyday was considered the red-headed step child in a field of far more advanced online poker rooms like PokerStars and PartyPoker.  Today, not only has the software vastly improved, so too have the promotions, the customer service and the all-important payouts.  In fact, Americas Cardroom is being praised as offering the “fastest payouts” of any US-facing online poker room today

Submitted by C Costigan on, Feb/23/2012

Tribal Gaming Network Begins Offering Legalized Real Money Internet Poker in US

Nevada-based Atlantis Internet Group Corp. announced Wednesday it has launched the first form of legal Intranet gaming within the United States.  Intranet means “local or restricted communications network”. 

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Submitted by Ace King on, Feb/22/2012

Steve Wynn Wins $7.5 Million Defamation Suit Against Joe Francis

It’s been an ugly back and forth battle but casino magnate Steve Wynn has come out on top in a very big way, winning his $7.5 million defamation lawsuit against “Girls Gone Wild” founder Joe Francis. 

The suit was filed following Francis’ proclamation that Wynn “deceived his high-end customers”. 

Submitted by Aaron Goldstein on, Feb/22/2012

MGM CEO: “Very Confident” Online Gambling Laws Would Pass on the Federal Level

Appearing on CNBC Wednesday evening, MGM CEO Jim Murren said he was “very confident” online gambling laws would pass on the federal level soon.

Murren added that, if such legislation fails to pass on the federal level, we will likely see the industry develop on a state-by-state basis. 

MGM has teamed up with the largest real money online gambling company, bwin.party.  Murren admitted that bwin.party might have to enter the US market at the state level first.

Submitted by Aaron Goldstein on, Feb/22/2012

Wall Street Hedge Fund Manager Bets Against Online Poker Legislation in 2012

Managing member at KIF Capital Management, Ken Frankel, laughed off the idea that so many in the Internet poker community believed Senate Majority Leader Harry Reid would come through as a white knight last week. 

From Business Insider:

Submitted by Aaron Goldstein on, Feb/22/2012

Online Gambling Affiliate Leader Honored by Obama

Warren Jolly, Head of Affiliate Media, was one of several honored by US President Barack Obama on Monday for his achievements as a young entrepreneur.  Jolly was one of the pioneers in the online gambling affiliate realm. 

Submitted by Sparky Collins on, Feb/21/2012

Peter Eastgate Signs on With Betfair Poker

2008 World Series of Poker Main Event winner Peter Eastgate has signed on to represent Team Betfair Poker.

The popular Danish player, who was last seen jumping off a bridge into a frigid canal after losing a $6000 prop bet, hasn’t exactly had the greatest impact on the live poker circuit of late.  He only won $14,345 in 2011.  In late 2010, Eastgate retired from poker, only to return a few months later (February to be exact).

Submitted by Nagesh Rath on, Feb/21/2012

Question of the Day: Why Can’t Everleaf Send US Players Funds Via Western Union?

It’s been a few weeks since the small – and some say struggling – online poker network Everleaf Gaming shut out its US customer base without any warning.  Players looking for their funds are being redirected to the new “provisions” page, which simply states US players are no longer able to play online poker at Everleaf.

Submitted by C Costigan on, Feb/21/2012

Nine of Top Ten Online Poker Rooms See Drop Off in Traffic

The second straight week of declines occurred with a 3 percent drop off in traffic for online poker rooms.  Some of this could be attributed to the extended President’s Day weekend holiday in the US.

PokerScout.com also noted that Everleaf’s pullout from the US market only resulted in a 16 percent drop in overall traffic.  They noted that the network’s reliance on the US market was much less than had been previously believed.

Top 20 Movers

Submitted by Ace King on, Feb/21/2012

WagerWeb.com Online Sportsbook, Casino Joins the Gambling911.com Family

Gambling911.com is thrilled to announce the return of WagerWeb.com to its portfolio of fine online sportsbooks just in time for March Madness.

Submitted by C Costigan on, Feb/21/2012

Cake Poker Announces Major Software Upgrade

Cake Poker, one of the leading online poker networks, has announced a major new software upgrade.

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The update to its 2.0 client will feature improvements in speed, stability, navigation and graphics. 

Submitted by Guest on, Feb/21/2012

Jamie Gold Poker Room Opens at the Tropicana

2006 World Series of Poker Main Event winner Jamie Gold kicked off the opening of the Tropicana poker room, which is named after him, Friday February 17, 2012. 

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Submitted by Nagesh Rath on, Feb/18/2012

Patrik Antonius Coming to PartyPoker….Sort of

Finnish poker pro Patrik Antonius may be on his way to finding a new home…if only for a brief moment.

Following the shutdown of Full Tilt Poker late last year, Antonius and over a dozen other poker pros have been left without promotional deals.

Submitted by Ace King on, Feb/17/2012

Ladbrokes Punters Bet £13 billion in 2011: Poker Revenues Down 25 Percent

Ladbrokes reported strong returns for 2011 with punters staking £13 billion in 2011 and profit per shot increased 6.9 percent over 2010.

Gaming machines drew almost £10.5 billion, up 13.7% on a year earlier while over-the-counter betting enjoyed £2.5 billion in bets placed.

Submitted by Aaron Goldstein on, Feb/16/2012

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.

Submitted by Guest on, Feb/15/2012

PokerAddict.net Warning: Do Not Deposit on Everleaf Poker Network

PokerAddict.net is the latest industry news site to blast the Everleaf Gaming poker network for its sudden withdrawal from the U.S. market, suggesting it has more to do with liquidity issues than with a seizure of funds confirmed this past October.

Submitted by C Costigan on, Feb/15/2012

Everleaf Poker Should Never Have Been Allowing Washington State Citizens to Play

We have finally learned after days of speculation that Everleaf Poker’s woes come from transmitting funds for online poker to and from the state of Washington.  It is the only state in the U.S. to make playing Internet poker a Class C felony and has done so since 2009 when the investigation into a payment processor utilized by Everleaf had commenced. 

Title 18 U.S.C 1084(b) was cited in the seizure affidavit issued by the United States District Court for the Western District of Washington.

Submitted by C Costigan on, Feb/15/2012

U.S. Secret Service Targeted Everleaf Poker Payment Processor in Washington State

The news website Diamond Flush Poker confirmed that the U.S. Secret Service field office out of Seattle, Washington had been monitoring a payment processor utilized by Everleaf Poker since early 2009. 

The Seattle entry into the investigation into online gambling payment processors is nothing new.

Submitted by C Costigan on, Feb/15/2012

Nevada Casino Tax Hike Would Result in 7500 Lost Jobs

(AP)  CARSON CITY, Nev. — An initiative to raise the top tax rate on Nevada's highest earning casinos is not economically sustainable by the industry and would lead to thousands of direct and indirect job losses, according to one gambling analyst who called the proposal a "wolf in sheep's clothing."

"We estimate the gaming tax increase would result in 7,500 or more lost jobs in Nevada, a notable step backward," Bill Lerner of Union Gaming Group said in a client's note.

Submitted by Guest on, Feb/15/2012

Bingo Slot Machine Hybrid Slingo Announced by Zynga for Facebook

Zynga has licensed the rights to make Zynga Slingo, a Bingo slot machine hybrid, which will bring the game to Facebook effective immediately, Wednesday February 15, 2012.

Submitted by Aaron Goldstein on, Feb/15/2012

Lock Poker Welcomes Two New Pros: Jason Lee and Tim West

Lock Poker is thrilled to announce the new additions to their LockPRO ELITE team:  Jason Lee and Tim West.

Jason spent his College years at the University of Florida, He stumbled upon the game of poker when he stopped by a group of friend's home game.  Describing himself as "horrendous" at the time, Jason quickly fell in love with the game and became engulfed in the study of the game.  Through hard work, long nights and some help from friends, he quickly found himself among the upper ranks of online poker professionals.  The rest is history.

Submitted by Guest on, Feb/15/2012

Everleaf Poker Down a Mere 12 Percent After U.S. Market Pullout

The Everleaf Gaming Network has seen just a 12 percent drop off in its overall traffic in the past week after shutting out U.S. players according to PokerScout.com.

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The small online poker network appears to be relying heavily on its acquisition of an Italian player pool last year.

Submitted by Nagesh Rath on, Feb/14/2012

Zynga to Post 4Q results

(Associated Press) - Zynga will show whether it was able to further boost its rapidly growing number of followers, as well as its profit and revenue as a publicly traded company, when the online game maker reports fourth-quarter results Tuesday.

It will be Zynga's first quarterly report since going public in December. Analysts, on average, expect the San-Francisco company to post earnings of 3 cents per share on revenue of $302.1 million, according to a poll by FactSet.

Submitted by Guest on, Feb/14/2012

Minted Poker Rep Back Pedals on Funds ‘Seizure’ Claims

Following a rather abrupt exit of the Everleaf Gaming Network from the U.S. poker market and subsequent announcement by one of its online card room representatives that the U.S. Government had seized funds, that very same rep now claims the aforementioned seizure never happened.  More so, he denies ever making such an assertion despite the post being made by him on a public forum. 

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Submitted by C Costigan on, Feb/13/2012

Probability Seeks Nevada Online Gambling License

Probability plc, a UK-based mobile gaming company, is the latest to apply for a license in the state of Nevada that would ultimately permit it to feature real cash games. 

Probability has over 5 years experience specialising in mobile gaming, with around 1m UK customers and over half a billion transactions on our proprietary m-gaming platform so far. It allows customers to play a variety of casino games including slots and Bingo! Games can be played on over 8,000 types of mobile phone from mid-1990′s Nokias to the latest iPhone and iPad devices.

Submitted by Aaron Goldstein on, Feb/13/2012

No Lovin’ for Luvin Poker as It and Others Must Find New Network to Serve US

Following an abrupt announcement (or lack-there-of) by the Everleaf Gaming poker network that it will no longer be serving U.S. players, a few dozen of its skins may be looking for new homes.  Most of these online poker rooms were relatively small.

Submitted by C Costigan on, Feb/12/2012

Breaking News

13-Year-Old Bitcoin Kidnap Victim Found Safe

Plus: US government opens criminal probe into bitcoin price manipulation

London Police Seize Bitcoin Worth $667,000 From Hacker

London police have seized half a million pounds ($667,000) worth of bitcoin from a prolific computer hacker in a case described as the first of its kind for the 188-year-old department.

The Birth Of GDPR and its Effect on Web Gambling

The Birth Of GDPR and its Effect on Web Gambling

What is GDPR?  The General Data Protection Regulation (“GDPR”) is a legal framework that requires businesses to protect the personal data and privacy of European Union (EU) citizens for transactions that occur within EU member states.