Business & Financial
Facebook Exec Niranjan Nagar to Speak at Social Gambling Conference
Niranjan Nagar, the Head of Games & Apps for Global Vertical Marketing at Facebook, is slated as the keynote speaker at next months’ Social Gaming & Gambling Summit in Los Angeles (taking place December 13-14).
Nagar is responsible for managing Facebook's marketing strategy for the vertical and for architecting programs to build the category globally. He was most recently the COO at Outspark, a publisher and operator of free to play RPGs.
Penn National Gaming to Split Into Two
NEW YORK - (Associated Press) -- Shares of Penn National Gaming Inc. hit their highest price since early 2008 on Friday, after the casino and racetrack operator said it plans to split its business into two separate public companies.
It will complete the separation by spinning off its real estate assets into a real estate investment trust. Its gaming business will then stand alone. The split is subject to gaming regulatory approval, which Penn expects to receive in the next nine to 12 months. It expects to complete the spinoff of the REIT in the second half of 2013.
BestBet Poker Room St. Johns to Close While Jacksonville Room Thrives
The BestBet St. Johns County poker room in Florida is set to shut down due to declining revenues with much of the staff to be relocated to venues in either Orange Park or Jacksonville.
Tribes Want In On Internet Gambling: ‘Preparing to be Active Participants’
Connecticut tribes reacted to news that Rep. Stephen Dargan, co-chairman of the legislative public safety committee, wants to re-evaluate the state’s role in legalized Internet gambling.
Chicago Suburb Targeted for New Casino Development
COUNTRY CLUB HILLS, Ill. (Associated Press) — A North Las Vegas, Nev.-based company wants to build a $250 million casino in the Chicago suburb of Country Club Hills.
The SouthtownStar reports the casino operator is making the announcement despite Gov. Pat Quinn’s veto of a gambling expansion bill. It’s unclear whether the Illinois Legislature will be able to override Quinn’s veto or pass a new bill.
Cake Poker to Offer Mac Compatible and Online Cardroom With No Download
Great news for Cake Poker players as the company has unveiled a new Mac compatible online poker platform.
Additionally, Cake Poker will have available a Web version of its card room that will not require any download.
Full Tilt Poker Money for US Players: The Waiting Game
It appears the year-and-a-half long wait for US players to receive monies owed to them by Full Tilt Poker will be extended…indefinitely.
Full Tilt Poker reopened its doors to much of the rest of the world last week courtesy of new parent company PokerStars. The site immediately regained its position as the number two most trafficked online poker room. Everyone except the US players have been paid a la Stars as part of a settlement agreement reached with the US Government, the later of which holds the monumental task of paying back millions owed to those stateside.
Connecticut to Re-Examine Online Gambling
Connecticut, which had dabbled with the idea of licensing online gambling websites earlier in the year, is looking to revisit that option.
Rep. Stephen Dargan, co-chairman of the legislative public safety committee, said on Tuesday his state should jump on the bandwagon come January.
EU Must Act Over ‘Protectionist’ Rule Following Detention of Bwin.Party Founder
The Financial Time’s Jonathan Guthrie blasted the European Union for its failure to act appropriately in light of member nations chokehold over online gambling firms.
Camasino.Com Launches Real Money Online Casino to Coincide With Webcam Poker Room
Isle of Man licensed Camasino.com has announced the launch of its real money online casino lobby.
Camasino, which runs Canada’s biggest land-based poker room, Snakes Poker Club (now rebranded as Camasino.com Poker Room), is offering a $300 bonus to those who open an account.
28 games are being offered that include Blackjack, Craps, Progressive Slots, Multi-Hand Video Poker, Roulette, Chinese New Year and Magical Forest, just to name a few.
Bwin.Party Head Norbert Teufelberger Released After Belgian Detention
Norbert Teufelberger, the co-founder of Bwin.Party, was released following two hours of questioning by Belgian authorities late Tuesday.
Teufelberger had just finished giving the keynote address at the Responsible Gaming Day conference when authorities came and requested he come with them for questioning after the event at 2 pm local time. Teufelberger did go voluntarily, a company representative confirmed.
Bwin.Party Co-Founder Norbert Teufelberger Detained in Belgium
Norbert Teufelberger, co-founder of the world’s largest online betting firm Bwin.Party, was detained while visiting Brussels, Belgium on Tuesday.
Teufelberger was in attendance at the Responsible Gaming Day conference in that European nation, home to the European Union, when authorities came and requested he come with them for questioning after the event at 2 pm local time. Teufelberger did go voluntarily, a company representative confirmed.
William Hill to Get More Time for Sportingbet Bid
LONDON (Reuters) - William Hill, Britain's largest bookmaker, will get more time to finalise a proposed 530 million pound ($843 million) offer for online gaming group Sportingbet, sources close to the deal said.
William Hill and smaller partner GVC Holdings won provisional backing for the takeover proposal from the Sportingbet board last month.
The deadline to submit a formal offer is 1700 GMT on November 13 but that is likely to be extended by four weeks to allow more time for due diligence, the sources said on Monday.
Former Zynga VP Ya-Bing Chu Joins Betable
A former Vice President of publicly traded social gaming company Zynga has been hired by startup Betable, it was announced on Monday.
Ya-Bing Chu will be placed in charge of building Betable’s real money platform, which will be available in most countries except for the USA, at least for the time being. He will also focus on mobile growth for the company.
“This is an opportunity to pioneer this business, and this was too good to pass up,” said Chu.
Betfair Slashes Dozens of Jobs: Gets Rid of UK Director
Europe’s biggest betting exchange, Betfair, announced it is laying off 50 employees and will part ways with UK Director Peter Marcus.
Mr. Marcus had previously been recruited by William Hill and was only on the job 14 months. He will leave his post in the coming days.
CEO Breon Corcoran is looking to shake up the organization and was in the midst of conducting a company strategic review scheduled for conclusion on December 13.
Horseshoe Casino is Coming to Baltimore
With a referendum passed on Election Day for expanded gambling in Maryland, Caesars has announced plans to build a high-end casino in Baltimore with its Horseshoe brand.
Caesar’s bills the Horseshoe as home of the best odds, highest limits and biggest jackpots. The Horseshoe brand is offered in six markets, including Cleveland.
John Payne, president, of Enterprise Shared Services with Caesars and Chad Barnhill, general manager of Caesar's Baltimore Casino, said the new Horseshoe Casino will deliver patrons a legendary experience in terms of service and dining.
Maryland Poised to Become Major Casino State on East Coast
ANNAPOLIS, Md. (Associated Press) — Once reluctant to embrace large-scale gambling, Maryland is now on track to potentially become a major casino state on the East Coast, after voters decided to allow Las Vegas-style table games at six casinos, including one next to the nation's capital.
Nevada Gambling Revenue Up 3 Percent
CARSON CITY (Associated Press) — State officials say Nevada gambling revenues were up more than 3 percent in September compared with the same month a year ago. The Nevada Gaming Control Board reports a gambling win of $893 million for September.
Officials also say casino revenues for July through September are up almost 6 percent compared with the same quarter in 2011.
UK Leads European Online Gambling Reports Belle Rock Entertainment
The European online gambling market is growing, and the UK is leading the way, reports Belle Rock Entertainment. However, H2 Gambling Capital figures forecast rapid growth in Italy, France and Spain that could leave the UK lagging behind.
Carbon Sports Makes Push Into Lucrative Sports Betting Market
One of the industry’s most prominent online poker rooms, Carbon Poker, has dove head first into the sports betting market. The new brand is CarbonSports.ag and a lot of people are beginning to take notice.
Full Tilt Poker Becomes the 2nd Most Trafficked Online Poker Room in Under 24 Hours
Full Tilt Poker is back and they are back in a very big way.
PokerScout.com, a website that monitors traffic for online poker rooms, has already ranked Full Tilt Poker as the 2nd most trafficked virtual card room in just under 24 hours.
Full Tilt Poker Back Online Following Year Long Absence
After more than a year, Full Tilt Poker is back in business as of November 6, 2012 following an acquisition by one time rival PokerStars, the world’s leading real money online poker room.
Residents of the USA are prohibited from playing on the FullTiltPoker.com website at this time.
China’s New Leaders May be Uneasy About Macau Growth
(Associated Press) - Hordes of Chinese high rollers flooding into Macau have turned the city into an Asian casino boomtown, but they're also posing a challenge for China's next generation of leaders.
Black Sunday for Sportsbook Affiliates: Books Biggest Single Day Loss in 8 Years
Yesterday's game of the Falcons vs Cowboys having a late cover caused affiliates to loose millions. The late cover resulted in several sportsbooks in Vegas and online seeing the biggest single day loss they have seen for over 8 years. On the other hand this was a day of celebration for thousands of NFL bettors. Sadly the joy is not shared by the bookies who took the big hit.
Social Gambling Conference in London to Feature Panel of Legal Experts
Legal experts in the social gambling space will add their opinions to the Social Gambling Conference on November 16th at Dexter House, London.
MGM Makes Final Pitch for Gambling Expansion in Maryland Ahead of Election
(Associated Press) - The CEO of MGM Resorts International said Friday that if Maryland voters agree Tuesday to expand legalized gambling, his company would build a luxurious and architecturally unimposing casino and hotel near the nation's capital, not a blocky neon-lit behemoth.
"There would be zero neon, and no marquee sign," said Jim Murren, MGM Resort International's chief executive officer, outlining his plans for a building that he says would respect the environment next to the Potomac River in Prince George's County.
Atlantic City Casinos Begin Re-Opening, Starting With the Borgata
TRENTON, N.J. (Associated Press) – Gov. Chris Christie announced Friday that Atlantic City’s 12 casinos can reopen after a nearly five-day shutdown for Superstorm Sandy, but it’s unclear when they will be ready to do so.
Christie announced the order to allow reopening at 10 a.m. Friday and said it was effective immediately. He also allowed roads to the seaside resort, which was subject to a mandatory evacuation, to reopen.
Atlantic City Casinos Expected to Re-Open Soon With Christie Lifting Evacuation Order
With New Jersey Governor Chris Christie lifting evacuation orders in Atlantic City, casinos were expected to re-open in the coming days. All operators report nominal damage, mostly to their roofs.
On Thursday it was also revealed that The Borgata Casino’s $393.5 million of 9.875 percent notes due August 2018 have fallen 2.25 cents on the dollar since the largest tropical storm in the Atlantic slammed the East Coast on Oct. 29.
MGM Gets Final Approval for Online Poker License in Nevada
MGM has been approved for its online poker license in the state of Nevada and plans to launch a free-to-play website by March.
Atlantic City Casinos to Reopen Once Governor Lifts Evacuation Orders
As Atlantic City’s 12 casinos economic losses begin mounting, officials still are unsure just when the establishments will be ready to reopen.
Each reported only minimal damage from Hurricane Sandy and will be prepared to reopen once New Jersey Governor lifts the evacuation order. It was not immediately clear when that will occur, however.
