Business & Financial
Matchbook.com Exits Canada Market for Unknown Reasons
Canadian customers of the sports betting exchange Matchbook.com have been advised that they must withdraw all funds from their accounts by August 22 (2014).
The decision was made on Wednesday (July 23) to exit the Canadian market though rumors began swirling earlier in the week. A reason for the departure was not immediately known.
Revel Casino has Six Potential Buyers: May Avert Closure
ATLANTIC CITY, N.J. (Associated Press) - Atlantic City's mayor said Wednesday there are six potential buyers for the Revel Casino Hotel, which is up for sale next month at a bankruptcy auction.
Don Guardian also said his administration has been in talks with the current owners of the former Atlantic Club casino about selling it to a new buyer.
Satoshi Poker Closes: Players Migrated to BurnTurn Amidst ‘Blame Game’
Satoshi Poker unceremoniously shut its doors after just over one year in business and it has done so amidst much finger pointing.
One of the first bitcoin-only poker sites, Satoshi sold to new owners last month, however, this group plans to abandon the Satoshi Poker software in favor of their own including the migration of all remaining players to BurnTurn.com, a soon-to-open online poker room.
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.
’Girls Gone Wild’ Founder Joe Francis Slapped With $5k Daily Fine
The founder of the raucous and salacious DVD franchise “Girls Gone Wild” has been ordered to pay a $5000 fine each day he fails to return two luxury automobiles.
Joe Francis claims he no longer has the vehicles and that they were taken by an angry Mexican businessman.
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.
Jeter ‘RE2PECT’ Commercial is Top Shelf Viral PR
These days, YouTube “commercials” are commonplace. Advertisers are waking up to the reality that one viral video with relatively low overhead can have more expansive and long-term impact than a multi-million-dollar TV spot.
9 Biggest Screw-ups in Bitcoin History
With more and more online gambling sites popping up that incorporate the anonymous digital currency bitcoin, CoinDesk.com featured an interesting piece Monday that unveils nine of the biggest screw-ups in bitcoin’s short – and some would say shaky – history.
As you can see, these aren’t just simple screw-ups.
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.
The Isle of Man Is Becoming Cryptocurrency Hotspot
Crypto Next plc is an Isle of Man company that wants to bring digital currencies to grassroots level by providing turn-key packages that include a company, operating and trading accounts and white label currency exchange platform, instantly overcoming regulatory and technological barriers.
Crypto Next plc is the second cryptocurrency company to launch in the Isle of Man, where the Government has openly welcomed digital currency companies; a development which is attracting cryptocurrency based businesses since the announcement on the 10th June 2014.
Bwin to Make Additional Cuts of More Than $13.6 Million to Meet Targets
(Reuters) - Online gambling company Bwin.Party, under pressure from an activist shareholder to boost its performance, said an additional 10 million euros ($13.6 million) of cost cuts would help it to meet its targets for the year.
Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business.
In a trading statement on Tuesday, bwin said sports betting had benefited from the soccer World Cup but described the performance of its poker and casino business as "soft".
You’re Fired! 1000 Employees at Trump Plaza Get Pink Slips
(Reuters) - Layoff notices went out on Monday for roughly 1,000 employees of Atlantic City's Trump Plaza Casino Hotel, in anticipation of a Sept. 16 closure, the company said in a statement.
The pink slips came as the company that owns the casino, Trump Entertainment Resorts, has begun "reviewing alternatives for the property," the company statement said.
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.
Gay or Nay: Atlantic City Embrace of LGBT Community Could Prove Lucrative
Atlantic City just got gayer thanks to that seaside gambling resort’s first openly gay Mayor Don Guardian, who recently declared one of the region's beaches to be "gay-friendly".
Missouri Bookies: St. Louis, Columbia, Texas County, Shannon County More
No matter where you are located in the Show Me State of Missouri, local bookies are only a stone’s throw away. You just have to know how to find them.
Former Rep. Connie Mack Added to Adelson Arsenal
Former Rep. Connie Mack has been brought on to help lobby in favor of a bill to ban online gambling across the USA.
Mack, who lost his Congressional seat in 2012, will lobby on behalf of Sheldon Adelson’s Las Vegas Sands Corp.
Adelson has been on a crusade to abolish Internet gambling for the better part of a year now. The GOP mega-donor had his lobbyists help draft anti-online gambling legislation introduced by Rep. Jason Chaffetz (R-Utah) and Sen. Lindsey Graham (R-S.C.) earlier in the year.
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.
Bookies in the Topeka, Manhattan, Kansas Area
Bookies can be found throughout the Manhattan and Topeka region of Kansas thanks to the hardcore sports fans backing local Kansas State University, home of the Wildcats. USA Today has pegged Kansas State to be one of the top 25 football programs in the nation for 2014, thus making the demand for Price Per Head outsourcing that much more important.
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.
Russia to Open Up Sochi, Crimea for Gambling: Easing Online Poker Restrictions
Russia has announced plans to ease restrictions on Internet gambling while opening up Sochi and the Crimea for land-based casinos.
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.
