Business & Financial
Beth Shak Goes on ‘The View’ and Full Tilt Poker Questions Are Out of Bounds
America had a chance this week at hearing some insight into the Full Tilt Poker fiasco from an insider, but the clueless women of "The View" TV show dropped the ball and instead focused exclusively on footwear.
Defendant in ‘Black Friday’ Online Poker Case Gets 3 Years Prison Sentence
A defendant involved in processing millions of dollars in payments for three online poker rooms in the US has been sentenced to three years prison.
Ira Rubin pleaded guilty in January to money laundering, bank fraud and other gambling offenses. He faced up to 55 years in prison, however, prosecutors recommended 18 to 24 months.
Rubin was indicted along with 10 others in April 2011. Four of those named in the indictment still remain at large.
Friday Decision Likely on Maryland Special Session to Talk Gambling Expansion
ANNAPOLIS — (Associated Press) - A spokeswoman for Gov. Martin O’Malley says a formal announcement on whether a special session will be held in Maryland to expand gambling is likely to be made on Friday.
Raquel Guillory declined to say definitively on Thursday whether a special session will be held next month. She says details are still being worked out.
On Wednesday, House Speaker Michael Busch met with House Democratic leaders to tell them to be prepared for a special session because he believes the governor will call one.
Eight Analysts Cut Price Target on Zynga as Texas Hold’em Poker Maker Sees Sharp Decline
Zynga witnessed a 42 percent drop in its share price following less-than-rosy news about the company’s future. This has prompted eight different analysts to cut their target price on the maker of popular games such as “Farmville” and “Texas Hold’em Poker”. Of the 24 who follow the company, only give have a ‘buy’ rating on the stock with an average price target set at US$5.
First Online Poker Sites Expected to be Operating in Nevada Within 90 Days
Nevada Gaming Control Board Chairman Mark Lipparelli told the Las Vegas Review Journal Thursday (July 26, 2012) that the first licensed online poker rooms could be operating within that state in 60 to 90 days.
Chris Christie Continues to be Adamant: Casino Gambling in Atlantic City Only
Lawmakers in New Jersey want casino gambling a little closer to home for the millions of people who populate the northern portion of that state. Governor Chris Christie continues to lay down the law, insisting only Atlantic City will play host to casinos there.
Christie’s plan includes a $20 million “Do AC” marketing campaign, tax breaks for developers and state oversight of policing and cleanup, Terrence Dopp of Bloomberg News writes.
Las Vegas Sands Sees Huge 35 Percent 3rd Quarter Plunge
LAS VEGAS — (Associated Press) - Las Vegas Sands Corp. said Wednesday that second-quarter profit tumbled by 35 percent as the casino operator’s table winnings fell at home and in Asia.
Chairman and CEO Sheldon Adelson said the results didn’t meet his expectations. They didn’t meet Wall Street’s, either.
Shares of Las Vegas Sands fell 88 cents, or 2.3 percent, to end regular trading at $37.51. After more than an hour of extended trading after the results came out, the shares had lost another $2.47, or 6.6 percent, to $35.04.
Zynga CEO Confirms Real Money Online Poker in 2013 During Conference Call
Following a late afternoon collapse of Zynga’s share price Wednesday, CEO Mark Pincus confirmed reports featured on Gambling911.com earlier in the week that the company will be offering “real money” online poker in the first half of 2013.
Gay Poker Players Head Into The Closet With New Shirt Line
High profile gay poker players the likes of Jason Somerville and Vanessa Selbst have increased interest in the game within the LGBT community.
And now there’s a merchandise line that is looking to capitalize on this trend.
It’s Poker Pride!
Zynga Earnings Miss: Las Vegas Sands Falls Short Too
Zynga, which runs the world’s biggest free-to-play online poker room, slashed its outlook after trading.
Pendula: ‘If Zynga Stock Gets Nailed, I Intend to Add Aggressively to My Position’
All eyes are on Zynga later this afternoon (July 25, 2012) as that popular social gaming firm is set to release its financials.
June Gambling Revenue Flat in Mississippi
JACKSON, Miss. (Associated Press) - Mississippi's casino revenues were basically flat in June, as a recovery at gambling halls along the Mississippi River barely made up for losses on the Gulf Coast.
Overall revenue rose less than 1 percent from June 2011, to $186.9 million, according to Mississippi Department of Revenue figures released Tuesday. Statewide revenue was basically flat with May, down less than $150,000.
In June, the 12 coastal casinos won a total of $89.9 million from gamblers, down 4.3 percent from the $94 million that they won in June 2011.
Zynga Earnings May Surprise Wednesday: Investors Eagerly Await Las Vegas Sands Numbers
Wednesday July 25, 2012 will be a big day in the world of gambling stocks as investors eagerly await earnings reports from both Zynga and the Las Vegas Sands.
Gambling Sector Anxiously Awaiting Las Vegas Sands 2012 Q2 Earnings Wednesday
Sheldon Adelson’s Las Vegas Sands (LVS) earnings report for 2012 Q2 was to come out on Wednesday, expected after the market closes.
Early forecasts from Wall Street call for an 11 percent increase in earnings per share, to 60 cents while revenue is expected to jump almost 19 percent for $2.783 billion.
Zynga to Report Earnings on Wednesday: Online Poker Could Provide Big Boost
Yesterday, Gambling911.com reported on how Zynga was already in the process of negotiating “real money” platforms for its uber popular Texas Hold’em online poker game. On Wednesday (July 25, 2012), the company is set to report earnings.
‘Kite Marks’ for Online Gambling Could Encourage Operators to Obtain License in UK
Regulators in the United Kingdom have proposed using a “kite-marking system” as a means of encouraging operators to seek regulation there.
South Point Poker Would Move Away From Zen Gaming Network: Launch Planned for Fall
South Point Poker anticipates being the first “real money” intrastate online poker site in the US with a launch expected by fall.
Maine Newest Casino’s Future in Doubt following Development Permit Nullification
PORTLAND, Maine (Associated Press) - The immediate future of Maine's newest casino is in doubt.
Department of Environmental Protection officials and the Attorney General's Office were meeting Monday and discussing what course of action to take after a judge nullified a development permit for the Oxford Casino less than two months after the casino opened in the western Maine town of Oxford.
Zynga Gets Bids to Offer ‘Real Cash’ Online Poker
GTECH G2 and Playtech confirmed to have submitted bids to provide the social giant Zynga Poker with a real cash online poker platform, according to eGaming Review Magazine Monday.
Last week, Zynga founder Mark Pincus (pictured) confirmed the social media firm was exploring “real money” online poker ventures.
Macau Murder Spate Worrisome as Growth Slows in Casino Mecca
HONG KONG (Reuters) - In Macau, three murders in the past two weeks have raised fears that violent crime is growing more common at the same time as the island's casino operators are struggling with slower growth.
Revenues Way Up at 32Red: Will Enter Italy Market
Shares at 32Red have risen 3.3 percent, valuing the company at £30 million following an upbeat forecast of full year revenues.
Its first half revenues rose 50 percent to to £16.5 million. The Gibraltar-based betting firm, backed by Gervais Williams’ Diverse Income Trust, says it plans to launch online gambling websites in the lucrative Italian market.
Bookmakers May Become Extinct Like the Dinosaurs
The Ice Age killed off the dinosaurs and it appears the Internet may soon kill off the bookmakers.
What is widely considered the second oldest industry in the world after prostitution, bookies throughout Ireland have had to contend with the Internet and turnover numbers that have seen a massive 19 per cent decline during the first half of 2012.
Ring Fencing Policy at iPoker Network Clarified
The world’s 3rd largest online poker network (and sometimes 2nd as a result of alternating positions with rival PartyPoker), iPoker, has attempted to clarify its policy on ring-fencing for its dozens of online poker skins.
Individual skins will be subject to “partial” ring-fencing should they fail to meet predetermined performance criteria.
Churchill Downs Applies for Online Poker License
Kentucky’s Churchill Downs is the latest entity to apply for an online poker license in the state of Nevada.
The Silver State became the first to legalize online poker late last year and has been accepting applications over the past few months.
Churchill Downs, which currently offers legalized horse betting on the Web, already signaled its interest in offering Internet poker after purchasing the media venture Bluff Magazine earlier in the year.
If approved, Churchill Downs would be permitted to offer legal “real money” online poker within the state of Nevada.
Casino Mogul, Political Donor Sheldon Adelson Lashes Out Over Prostitution Claims
(AP) Las Vegas Sands Corp. chief and leading Republican political donor Sheldon Adelson is firing back at his former Macau casino executive's claim that Adelson personally approved prostitution at company properties in the Chinese gambling enclave.
Social Gaming Updates: Camasino.com, Bam Poker
In the coming weeks, Gambling911.com will be presenting a series of interviews with some of the newest social gaming websites including Camasino.com and Bam Poker.
Camasino.com is already offering “real money” play across the world, but is restricted within the US to free play while we await legislative moves, which once again seem to be heating up.
Heartland Poker Tour to Celebrate 200th Episode With $250K Prize Pool in Albuquerque
The Heartland Poker Tour, the nationally-syndicated poker show produced out of Fargo, North Dakota, is set to film its 200th episode on Monday, July 30 at Route 66 Casino in Albuquerque, NM. A $250,000 prize pool guarantee in the Main Event will ensure the landmark episode is action-packed. Poker pro Greg “Fossilman” Raymer will lend some star power to the event.
NorthBet Joins the Gambling911.com Family
NorthBet.ag has joined the Gambling911.com family just in time for the upcoming NFL season. Their “invite only” business model has quickly become one of the most effective ways to take care of preferred clients all across the industry.
Homeless Poker Players From US Have Hope From Poker Refugees
Following last year’s shock exits of PokerStars and Full Tilt Poker from the US market, the vast majority of poker pros have been left with few options in which to play online. While sites like Americas Cardroom welcome high stakes players by offering such enticements as a $60k Progressive Rake Race (a la “The Beast”), sites still catering to US players operate primarily using a recreational model.
Wynn Resorts 2Q Net Income Rises, but Revenue Down
By SAMANTHA BOMKAMP
The Associated Press
NEW YORK — (Associated Press) - Wynn Resorts Ltd. said Tuesday its second-quarter earnings rose from the same quarter last year, which was weighed down by a hefty charge. But revenue fell at its operations in both Las Vegas and the Asian gambling center of Macau.
