Business & Financial
Epic Fail: Poker League “Mountain of Debt” Claims Clarified by Execs
Responding to claims reported by CardPlayer.com that the Epic Poker League had left behind a “mountain of debt” as it seeks to reorganize under a Chapter 11 filing, the league’s CEO David Goldberg and Jeffrey Pollack attempted to clarify the situation in an interview with PokerNews.com.
Fast Poker vs. Zoom Poker: Two New Fast-Paced Platforms Debut
Just as PokerStars.com has unveiled its new fast-paced online poker game, Zoom Poker, a new game modeled after the now defunct Full Tilt Poker brand, Rush Poker, is set to debut on a number of European skins.
PayPal Cracks Down on March Madness Betting
PayPal has restricted some accounts for their apparent participation in March Madness betting, according to a report appearing in Bloomberg News Thursday.
Emails were sent to those suspected of using PayPal’s service for violation of the gambling policy.
The emails read:
“It has been determined that you are in violation of PayPal’s Acceptable Use Policy regarding your sales/offer of March Madness sports pool,” according to the report.
Targeted customers are required to sign an acceptable use affidavit prior to their account being reactivated.
Fool’s Gold: Jamie Gold Poker Room at Tropicana No More After One Month
In a blink of the eye, the much ballyhooed Jamie Gold Poker Room at the Tropicana Hotel and Casino in Las Vegas is no more after only one month.
The poker room is still open. It’s just not called the “Jamie Gold Poker Room” and any association with the WSOP champ seems to have been erased.
Gold is the biggest winner of the World Series of Poker Main Event ever, having won in 2006. Ultimately he had to split the funds with a promoter as part of a settled lawsuit.
Gold promotional posters have since been replaced with March Madness promos.
Full Tilt Poker Deal Could Happen This Week
Reports have surfaced that the Groupe Bernard Tapie (GBT) is fully prepared to acquire the Full Tilt Poker website as early as this week. While we have heard the same song and dance for months now, there is renewed optimism as a result of the specific time frame being announced.
Former US Vice Presidential Candidate Wayne Root Looks to Launch Online Poker Site in US
Nevada based online social media and gaming company W Technologies Inc. is looking to launch an online poker within the USA that could eventually embrace “real cash” play.
Matchbook Betting Exchange Looks to Expand in Europe, Asia With Multi-Currencies
Matchbook Betting Exchange is delighted to announce the release of their new multi-currency platform. This will allow all customers to bet in Euro, Sterling, Canadian and Hong Kong Dollars, as well as the previously available US Dollars. Since being newly acquired in early 2011, there has been heavy investment in the product and this is the first of a number of exciting announcements, including a fully functional mobile application, to come in the next few months.
Sportsbook Review Defendant in Trademark Infringement Lawsuit
Stevo Design, Inc. is suing SBR Marketing Ltd. over a trademark infringement. SBR Marketing runs the popular Sportsbook Review website and posting forum.
Court Description:
Annie Duke: ‘You Can’t Ride a Green Unicorn Because They are Impossible to Tame”
On her Huffington Post blog Monday evening, poker pro Annie Duke talked of green unicorns in making a point about good decision making and drawing parallels to the recent financial crisis.
William Hill to Open Talks With Playtech Following Tel Aviv Debacle
(Reuters) - William Hill (WMH.L) is to open talks with Playtech (PTEC.L) this month to try to salvage the companies' joint online venture following a breakdown in relations last year, the Financial Times reported on Monday.
USA Today: Nevada Gearing Up for Court Fight Over Gambling Tax Hike
USA Today reported on Monday that a petition drive to raise taxes on Nevada’s biggest casinos has been met with strong opposition by the gaming lobby via a lawsuit filed in Carson District Court.
Lotteries and Gaming Authority of Malta Cites Irregularities with Everleaf Poker Network
The Lotteries and Gaming Authority of Malta (LGA) has finally broken its silence regarding the Everleaf Gaming poker network, and it’s not good. The regulatory body has discovered irregularities with the firm following its delayed payouts to customers and abrupt exit from the US market early last month.
Sanctions were issued against Everleaf by the LGA.
An investigation yielded “a number of irregularities in their operation” resulting in the network “being monitored closely to ensure its operation respects Maltese law.”
Lobbyist: Casinos Want Fair Online Gambling
LAS VEGAS — (Associated Press) - A top lobbyist says commercial casinos companies want a fair shot for everyone when it comes to online gambling — not a leg up over state lotteries, American Indian tribes and others jockeying to be first in line.
Bwin.Party Formally Applies for Nevada Internet Poker License
Bwin.Party, the world’s largest real money gambling firm, has officially filed for a Nevada state Internet poker license.
Nevada looks to allow intrastate online poker in the coming months following passage of legislation late last year. Nevada could incorporate multi-state pacts in the future as well. Ultimately, the state was looking to become a hub for online poker companies following the passage of a federal law, however, many experts now believe the industry will develop exclusively at the local state level.
Horse Racing Group Won’t Oppose New Jersey Bill to Make State Hub for US Online Gambling
New Jersey State Senator Raymond Lesniak believes his co-authored legislation to make the Garden State an Internet gambling hub should pass on March 15 with actual money play likely by September.
Playtech Enters Into Online Gambling Agreement With Mexico’s Caliente
Online gambling software firm Playtech has entered into an agreement with Mexico’s land-based casino and sportsbook operator, Caliente, to provide the company with online gambling software.
Caliente is looking to provide a suite of casino games created by Playtech.
“We are delighted to have secured this agreement with one of Latin America's largest and most respected gaming operators with whom, over time, we expect to develop a valuable relationship,” said Mor Weizer, Chief Executive Officer for Playtech.
Banker, One Time Billionaire R. Allen Stanford Found Guilty on 13 of 14 Counts
A billionaire banker who maintained a significant presence in Antigua, R. Allen Stanford, has been found guilty on 13 of 14 counts.
Antigua is among the leading Internet gambling jurisdictions serving the US market. It was widely reported at the time of his arrest that gambling operators maintained accounts with Stanford’s bank on the Caribbean island.
Barron’s Maintains ‘Neutral’ Position on Shuffle Master
Following its announced intention to acquire the world’s 5th biggest Internet poker network by year’s end, OnGame, Shuffle Master has positioned itself at the forefront of a regulated US online poker market assuming either state or federal legislation becomes a reality.
Still, Barron’s has decided to maintain a “neutral” position regarding Shuffle Master.
PartyPoker Widens Margin Between It and iPoker Network
After alternating between the number two and number three spot with the iPoker Network over the past 7 months, PartyPoker has finally taken a decisive lead over its closest rival.
For the first week of March, Party had approximately 800 more players on average according to PokerScout.com, which monitors traffic on poker websites across the globe.
ShuffleMaster Enters Into Agreement to Purchase OnGame
The OnGame Poker Network may be coming to the US market now that ShuffleMaster has announced its agreement to purchase the European online poker firm.
The deal is actually contingent upon the US market opening up for real money play.
Bodog Shuts Down Costa Rica Office
Bodog has shut down its Costa Rica based office. Employees reported arriving to find they were locked out.
The company still operates from bases outside of Montreal, Quebec, Antigua and in London.
888 Poker Cam Ad Banned for Displaying Bikini Clad Female
The Advertising Standards Authority (ASA) in Great Britain is at it again, this time condemning 888 Poker Cam for featuring an ad with a bikini-clad woman.
The ASA calls the ad “suggestive” with the implied message being “gambling linked to seduction results in sexual success in bed”.
Zynga May Partner in Online Gambling Venture
SAN FRANCISCO (Dow Jones)--Zynga Inc. (ZNGA) Chief Executive Mark Pincus said Wednesday he sees "mind blowing" possibilities for weaving real-money gambling into social games pending regulatory changes in the U.S., and suggested the company may partner with a traditional casino company before the end of this year.
Pincus, speaking at the Morgan Stanley Technology, Media & Telecom Conference, said his San Francisco-based company sees a great deal of opportunity "to start to bring this gambling element into more than just casino games."
Epic Failure: Epic Poker League Files for Chapter 11 Protection
There is no easy way to say this, but, at the end of the day yesterday, Federated Sports + Gaming filed for Chapter 11 bankruptcy.
Our company needs a new start.
More Cake Online Poker Client Improvements Unveiled
Popular online poker network, the Cake Network has released an update to its 2.0 poker client with improvements in speed, stability, navigation and graphics.
Techdirt.com: Federal Agents Did Not Gamble on Bodog.com
An interesting argument was raised by a colleague of Gambling911.com Tuesday following the indictment of Bodog.com and four individuals connected to the company.
The US Attorneys Office in Maryland announced the indictment Tuesday immediately following the seizure of the Bodog.com domain.
Almost Paradise: Poker Site Sees Sharp 33 Percent Decline
Paradise Poker, once among the top three largest Internet card rooms in the world, witnessed a sharp decline in revenues of 33 percent in the first 6 months of its financial year to end January 2012.
The company, which is owned by sports betting powerhouse Sportingbet Plc, called the current poker market conditions “challenging”.
Poker makes up 6.0 percent of gross gaming revenue.
Sportingbet overall recorded a loss for the period.
Ayre Don’t Care: Bovada, Bodog Say Business as Usual
Following an indictment against Bodog founder Calvin Ayre Tuesday after a year’s long investigation into online sports betting, Ayre told his own self-named news website his life won’t be impacted.
Bodog, Calvin Ayre, et al. Indictment (Full Court Document)
IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND
UNITED STATES OF AMERICA :
v.
BODOG ENTERTAINMENT GROUP S.A., d/b/a BODOG.com, CALVIN AYRE, JAMES PHILIP,
DAVID FERGUSON, and DERRICK MALONEY,
Defendants.
: : CRIMINAL NO. : (Conducting gambling business, : 18 U.S.C. §1955; Money : laundering conspiracy, 18 U.S.C. : §1956(h); Aiding and : abetting, 18 U.S.C. §2; : Forfeiture, 18 U.S.C. : §§982(a)(1) and 1955(d)). :
...ooo0ooo... INDICTMENT COUNT ONE (Conducting gambling business)
Bodog Founder Calvin Ayre Indicted
Federal prosecutors in Baltimore on Tuesday unsealed an indictment against Calvin Ayre following the seizure of the Bodog.com domain name late Monday night. Ayre was profiled in the cover story of the Forbes Billionaire issue.
A press release was expected by the US Attorney’s Office out of Maryland shortly.
Rod Rosenstein, the U.S. Attorney in Baltimore, indicted Ayre and three other men, James Philip, David Ferguson and Derrick Maloney. The company, Bodog Entertainment Group, is also under indictment and its domain name has been seized by federal prosecutors.
