Business & Financial
Legends Sports ‘Bookie’ to Remain Behind Bars: Deemed a ‘Fight Risk’
While three of four individuals arrested in Florida for their role in a massive multi billion dollar sports betting ring have been released on bond, one will remain behind bars.
Prosecutors claim Philip Gurian, 51, acted as a “bookie” out of his Boca Raton home on behalf of Panama-based Legends Sports. The Sun-Sentinel reported Monday evening that Gurian had employees working for him in 10 different states and 6 countries. He is charged with conspiracy to commit money laundering.
Ladbrokes Shares Plunge: Profit Warning Issued
LONDON (Reuters) - Ladbrokes , Britain's second largest bookmaker, warned investors it expected annual operating profit to fall this year after a poor performance from horse racing and online gaming in the first quarter.
Ladbrokes shares fell eight percent after the unscheduled trading statement, which dashed expectations that the company was turning itself around after problems with its online operations last year.
Private Equity Group Sports Betting Bill SB346 Advances in Nevada Senate
A bill to allow private equity groups to place large bets at Nevada sportsbooks has advanced in the state Senate with the Judiciary Committee amending and approving Senate Bill 346 this past Friday.
Guns, Online Gambling Ensure Bitcoin Staying Power
As long as online gambling remains on the fringe of legality in nations across the globe, Bitcoin should emerge as a viable alternative currency for the industry as more operators come to embrace it.
And then there are guns.
With US efforts to curb gun sales through expansion of background checks, Bitcoin suddenly becomes more attractive to gun sellers and buyers.
Formula One Group Looks to Acquire Online Betting Exchange Betfair
A private equity firm that owns Formula One motor racing is looking into the possible purchase of Europe’s largest betting exchange, Betfair.
CVC Capital Partners confirmed on Monday it was in talks with investors about the possibility of a joint offer for the wagering firm, said to be worth around £800 million.
B3W Group to Fix Security Flaw in Online Poker Software
B3W Group, based out of Malta, has announced it plans this week to fix a vulnerability recently discovered by two security experts. The company produces turnkey online casino and poker solutions.
B3W's software updates itself over an insecure HTTP connection. Updated files are stored without digital signatures, and ".exe" files are not verified before installation. They also found issues with how B3W's software stores passwords on a person's computer.
PlayOLG.ca Online Gambling Website to Launch in Ontario This Year
The Ontario Lottery and Gaming Corp (OLG) is set to launch its online gambling website, PlayOLG.ca, later this year.
Casino and lottery type games will be offered to citizens of the province including those in its biggest city of Toronto.
Bitcoin Down 75 Percent: CNN Profiles Currency
The virtual currency Bitcoin was down a whopping 75 percent in just under 48 hours and still falling Friday.
Bitcoins were down to $61.11 as of 9 a.m. ET Friday. Prices reached as high as $266 per Bitcoin around 7:30 a.m. ET Wednesday.
Winklevoss Twins Own 1 Percent of All Bitcoins: $1.3 Billion
The virtual currency Bitcoin may have lost nearly 75 percent of its value in recent days, remarkably bringing it back to last month’s levels, but that hasn’t stopped the Winklevoss twins from owning 1 percent of Bitcoin, equivalent to $1.3 billion.
Former Sands Exec Details Deal Making in Macau
LAS VEGAS — (Associated Press) - During his second day of testimony, the former president of casino giant Las Vegas Sands detailed how the company gained its foothold in China.
William Weidner is one of the star witnesses in a breach of contract case brought by Hong Kong businessman Richard Suen.
Suen says he helped Sands win a gambling license in the Chinese gambling enclave of Macau.
Sands says it won entry to Macau on its own merits.
During his first day on the stand, Weidner took a few shots at Sands CEO Sheldon Adelson, who was his boss for 14 years.
PokerStars Target Acquisition Atlantic Club The Only March Money Maker in AC
Atlantic City reported a sharp decline in revenues of 10.5 percent for the month of March yet its most troubled casino outside of the cash strapped Revel witnessed the only revenue increase.
The Atlantic Club Casino (formerly the Atlantic City Hilton) enjoyed a 33 percent jump in revenues for the month of March.
Bodog Zone Features Faster Baccarat, Online Poker Product
The Bodog brand is set to launch a range of new products under the Bodog Zone moniker offering high-speed versions of the most popular online games including Baccarat and poker. In Asia, Baccarat is by far the biggest game played both on and offline but with complicated calculations between hands can be frustratingly slow.
Bodog’s new super-fast Baccarat has recently gone live in Asia via the Bodog brand’s Live Dealer casino. Zone Poker will launch later this year.
CakeBet.com Preparing to Launch BitCoin Online Casino
CakeBet.com, not to be confused with CakePoker.eu/Cake Gaming Whose banner appears below, is one of a handful of new BitCoin online casinos preparing to launch.
Adelson Says ‘Zero’ Contributions Made by Suen to Get Macau License
Testifying for a third day Tuesday, billionaire casino mogul Sheldon Adelson, 79, insisted everything was on the up-and-up in obtaining a license in the gambling Mecca of Macau.
Richard Suen, a one-time business associate, claims that he is owed US$328 million for helping the company win a casino operating license from China back in 2002.
When asked what contributions Suen made in getting the Las Vegas Sands license, Adelson responded “Zero”.
Bitcoin Currency Hits $219: Stress Placed on Processors
Bitcoin, the virtual currency that has many online gambling operators starting to take notice, hit a record high of $219 on Monday.
Just one year ago, a single Bitcoin was worth just $9.
The big question now: Are we starting to see a bubble?
Nevada Sports Betting Bill Would Allow Investment Groups, Syndicates
CARSON CITY, Nev. — (Associated Press) - Private investment groups could place sports wagers on behalf of investors under a proposed law in Nevada that would allow the state to reap millions of dollars in untapped revenue.
Gambling911.com Marketing: College Basketball Winds Down, Masters
Gambling911.com enjoyed great success with the 2013 NCAA Tournament, ranking well in search right up to the Final. Case in point, we ranked number 4 on Google for “2013 NCAA Championship Point Spread: Michigan vs. Louisville” but still received tons of traffic.
[For industry professionals, be sure to check out our Marketing section regularly here and if you wish to contact us, please do so here. We are available 24/7.]
Full Tilt Poker Former CEO Ray Bitar Pleads Guilty: Awaits Heart Transplant
The former CEO of Full Tilt Poker Raymond Bitar has plead guilty to money laundering and bank fraud.
Indicted on April 15, 2011 on what has become known as “Black Friday”, Bitar was facing significant prison time.
Bitar, however, remains hospitalized as he is about to undergo a heart transplant.
PartyGaming Little Traffic Gain From Zynga Partnership
With the huge news surrounding Zynga’s entry into the real money online casino and poker realm last week, the immediate impact seems anything but exciting.
Traffic numbers suggest Party has seen little, if any, gain.
This of course could change in the coming weeks and months as more and more Zynga existing users begin to stick their toe in the real money waters.
Online Gambling in New Jersey has Already Generated $90 Million
John Brennan of The Record pointed out an interesting fact this past weekend.
New Jersey, which last month legalized online gambling, has already generated a massive windfall from the activity: $90 million to be precise.
Shuttered Online Gambling Firm Intrade.com Facing Liquidation
It was revealed in recent days that the once popular online gambling trading site Intrade.com is facing a $700,000 cash shortfall and could end up in liquidation. Not good news for the hundreds of customers worldwide affected by last month’s abrupt closure.
Oklahoma Cheyenne Tribe to Offer Real Money Online Gambling
The Oklahoma Cheyenne and Arapaho Tribes are set to go live with real money online gambling via their website PokerTribes.com this summer.
So add Oklahoma to the shortlist of US states that will be offering real money online gambling, right?
Not so fast.
China Dismisses Casino Billionaire Sheldon Adelson Macau ‘Influence’
Billionaire and Chairman of Las Vegas Sands Corp. Sheldon Adelson last week testified that he did not authorize former President William Weidner’s offer of a share of the company’s Macau profits to a Hong Kong businessman.
‘Bet, Raise Fold – The Story of Online Poker’ Film to Debut June 2013 (Video)
The first ever feature-length documentary focusing on Internet poker is set to debut June of this year. “Bet, Raise Fold – The Story of Online Poker”.
It is the brainchild of several real players who used their own winnings to create the film.
Bitcoin Hacked: Leads to Buying Frenzy and 20 Percent Knocked Off Price
Virtual currency Bitcoin’s most popular exchange, Tokyo-based Mt.Gox was hacked Thursday, resulting in a massive buying frenzy.
20 percent was knocked off its price overnight Thursday as a result of the hacking. That, however, is just a drop in the bucket of the 360 percent rise in Bitcoin’s price over the past month.
iPoker the Latest Online Poker Network to Roll Out Anonymous Tables
iPoker, the world’s third largest online poker network, has announced it will begin featuring anonymous tables as early as next week.
Tribal Casinos Prepare for US Online Gambling: Pechanga Conference Planned
As Gambling911.com reported earlier in the week, some Tribal casinos are looking to combine their resources as a means of gaining entry into the lucrative US online gambling market.
Online Gambling Affiliates in the US: Preparation, Adapting Will be Key
There is an excellent report by John Mehaffey of LegalPokerSites.com on the legal landscape of online gambling in the US and how current affiliates with 10 plus years of experience may or may not be able to gain access. This, we at Gambling911.com believe, is a must read, especially in the wake of
Atlantic City Profits Down 27 Percent in 2012
(Associated Press) - Atlantic City's casinos saw their profit fall by more than 27 percent last year, even as revenue from non-gambling sources inched upward.
The city's casinos collectively posted $360 million in gross operating profits in 2012. They were hurt by having to close for up to a week for Superstorm Sandy.
Zynga Shares Up Nearly 15 Percent on Real Money Web Gambling News
News of Zynga beginning to offer real money online gambling in the United Kingdom sent its stock price rising 15 percent Wednesday. The company also intends to offer real money gambling in some regulated European countries over the next couple of months and the US by year’s end.
