Business & Financial
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.
Newest Online Poker Room for US Customers Launches: PokerRebel.com
PokerRebel.com, a new online poker room that accepts players from around the world including the USA, launched on November 1, 2012. (see site here)
PokerRebel.com is accepting players worldwide but specifically targets players in Brazil and the US market.
Betable Looks to Take on Zynga: Recruits Three Rivals Including Slingo
Betable has teamed up with three social gaming companies to expand into real money online poker, following rival Zynga’s lead.
Slingo Inc., the maker of bingo and slots titles, will use its UK gambling license and technology to help Betable compete directly with Zynga, the largest of the free-to-play online poker ventures. Zynga last week announced a partnership with Bwin.Party Digital Entertainment Plc.
Unibet Profits Cut in Half as Business Slows for 3rd Quarter of 2012
Unibet gross Winnings Revenue amounted to GBP 43.8 (37.8) million for the third quarter of 2012 and GBP 140.3 (109.7) million for the period January to September 2012.
Profit from operations for the third quarter 2012 amounted to GBP 4.5 (8.2) million and GBP 22.6 (26.6) million for the period January to September 2012. Excluding a one off tax payment of GBP 2.6 million, profit from operations for the third quarter 2012 would have been GBP 7.1 million.
Neteller to Re-Enter US Market With Caesars Partnership
Caesars Interactive announced on Tuesday it has partnered up with Isle of Man-based payment processor Neteller via its parent company, Optimal Payments.
“This is a groundbreaking deal for Optimal Payments and demonstrates our ability to provide real value to globally renowned, land-based gaming operators and their leading brands, as the first step in our strategy to capitalize on the regulated U.S. market.”
Atlantic City Casinos May Reopen Friday Morning Following Sandy’s Wrath
(Reuters) - Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of Atlantic City, but the resort's casino companies wager they could be back in business within days.
The storm that swept up the East Coast of the United States on Monday made landfall near Atlantic City, ripping up several blocks of its famous boardwalk and tearing roofing off casinos and hotels.
Phil Ivey Launches IveyPoker.com: New Social Media Poker Site
Still reeling from his failure to collect from a British casino, poker icon Phil Ivey has launched a new social media poker site, IveyPoker.com. The goal: “Teach the world how to play poker”.
Ivey has enlisted the help of fellow poker pro Greg Merson, who at press time was among three remaining players at this year’s World Series of Poker Final Table.
Atlantic City Casino Workers Union President: ‘I Have Never Seen so Much Water in the Inlet’
Category 1 Hurricane Sandy made landfall just south of the United State’s second largest casino destination of Atlantic City Monday evening. The damage is expected to be significant with much of the city under water. Portions of Atlantic City’s famed boardwalk was also swept out to see.
bwin.party Gaming Platforms to Be Powered by Lightstreamer Real-Time Technology
Weswit, a global leader in real-time web solutions, today announced that bwin.party (LSE:BPTY), the global online gaming company, has re-selected Lightstreamer to power its world-class gaming and betting platforms.
bwin.party, which has millions of customers worldwide and pro forma net revenue in 2011 of EUR816.0 million, will progressively deploy Lightstreamer in its online poker, casino, and bingo product verticals.
Sportsbook Director Michael Colbert No Longer With Cantor Gaming Following Arrest
Robert Hubbell, a spokesman with Cantor Gaming in New York, told the Las Vegas Review Journal that Sportsbook Director Michael Colbert was no longer an employee with Cantor Gaming.
Ad Age: Online Gambling Sites to Drop Billions on Ads, Could Surpass Insurance Companies
The next big boom in advertising, according to a report released by industry trade publication Ad Age, it’s online gambling.
With poker sites already legalized in the state of Nevada with a federal measure now drafted by political power players Harry Reid and Jon Kyl, Ad Age predicts that some $4 billion will be spent on the online gambling sector over the next five years. That's more than General Motors spent in U.S. advertising in 2011.
Alderney to Investigate PinnacleSports.com
The online gambling licensing jurisdiction of Alderney does not want to take any chances following last summer’s debacle with Full Tilt Poker. On Monday it was announced they will now commence an intensive investigation into PinnacleSports.com.
Pinnacle has been implicated by US authorities for its alleged role in a $50 million sports betting ring that netted 25 individuals stateside.
