Gambling Companies
Gambling Companies, Gambling Stocks
888 Holdings Approved for Nevada License
(Reuters) - European online gaming operator 888 Holdings Plc cleared a key hurdle in its return to a reopening, regulated U.S. online poker market after the Nevada Gaming Control Board voted to recommend approval of its application for a state interactive gaming license at a hearing scheduled for March 21.
The Nevada Gaming Control Board on Wednesday said it recommended the approval of Gibraltar-based 888's applications, including one as a manufacturer of an interactive gaming system, one as a distributor and another as an interactive gaming service provider.
Bitcoin Now Accepted at World’s Largest Online Poker Network iPoker
Some of the biggest Bitcoin news yet as iPoker Network online poker skin WinPoker has announced it will begin accepting the virtual currency.
This is the first time a poker room on a major network has begun to accept Bitcoin for deposits and withdrawals. iPoker is the world’s largest online poker network. Bitcoin’s price has enjoyed a staggering rise over the past two months from $14 to $40.
PokerStars was Offered Purchase of World Series of Poker, Rio Hotel
Reports surfaced Wednesday that Caesar’s had offered to sell their coveted World Series of Poker (WSOP) and Rio Hotel properties to PokerStars last month but the later refused.
This news comes on the heels of the American Gaming Association, based out of Nevada, submitting a letter to New Jersey officials urging them not to allow a proposed sale of Atlantic City’s Atlantic Club Hotel and Casino to PokerStars.
Zynga’s Mark Pincus Loses Billionaire Status
While casino magnate Sheldon Adelson ranked number 15 on Forbes newest Billionaire list, Zynga’s Mark Pincus has dropped off of it.
Poor Mark Pincus’ wealth has dropped into the hundreds of millions.
He’s appeared on the list over the past two years Zynga has been publicly trading.
Breaking News: The Ader Group Wins IGT Board Seat
The Ader Group today announced that International Game Technology (NYSE: IGT) concluded that Daniel B. Silvers has been elected to the IGT Board of Directors at the Company’s Annual Meeting, based on preliminary vote tabulations.
Jason N. Ader issued the following statement on today’s results:
IGT Dividend Issued on Eve of Contested Shareholders Meeting
Slots manufacturer International Game Technology (IGT) has issued an 8 cents per share dividend on the eve of a hotly contested shareholders meeting.
The IGT board of directors declared the dividend, which is a 33 percent increase over this same quarter last year.
"This is a demonstration of our continued commitment to return capital to shareholders, efficiently and prudently, driven by the strong financial performance of the company," Hart said.
AGA Opposes Sale of Atlantic Club Casino to PokerStars
The American Gaming Association (AGA) is opposing the sale of the Atlantic Club Hotel and Casino in Atlantic City to PokerStars.
The AGA sent a letter to the New Jersey Casino Control Commission urging them to reconsider allowing PokerStars to acquire the property.
Online Poker Segregation Takes Center Stage With Revolution, PartyPoker Moves
Segregating online poker players based on skill goes a step too far, so claims Aaron Todd of CasinoCity.com.
While a number of players might concur, operators have told Gambling911.com this is all a “fight for survival” with “reckless management practices” the primary reason why Full Tilt Poker failed in its first life before PokerStars ultimately revived the company.
Republican Mega Donor Sheldon Adelson Caught Up in ‘Bribe’ Scandal
Auditors at Las Vegas Sands Corp. admitted Friday "there were likely violations" of the Foreign Corrupt Practices Act barring Americans from bribing foreign officials to secure an advantage.
This disclosure was made in a late afternoon filing with the Securities and Exchange Commission Friday that ultimately leaked out to the media Sunday.
Heading up Las Vegas Sands Corp. is none other than powerful casino magnate and mega Republican donor Sheldon Adelson.
Countdown to the Vote: IGT Power Struggle Comes to Head Tuesday
A much talked about proxy battle at the world’s largest slots manufacturer will come to a head on Tuesday.
Sands Says It May Have Violated Law Prohibiting Bribes
LAS VEGAS, Nev. – (Associated Press) - Las Vegas Sands Corp. says in a regulatory filing that it probably violated a federal law that prohibits bribing foreign officials.
The casino company said in a filing Friday that the Securities and Exchange Commission asked two years ago for records relating to compliance with the Foreign Corrupt Practices Act.
Las Vegas Sands, which is controlled by billionaire Sheldon Adelson, said that after it got the SEC subpoena on Feb. 9, 2011, the audit committee of the board of directors opened an investigation.
Moody's: Legalized Online Gambling in New Jersey a Boost to Casinos
(Reuters) - Moody’s Investors Service on Thursday said legalization of Internet gaming in New Jersey is credit positive for the Atlantic City casino industry.
Moody’s said licenses to offer Internet gaming will be limited to Atlantic City's existing casino operators and their partners, and it will attract more players to the city.
Casino Poker Rooms Closing as Online Crazy Subsides
LAS VEGAS (Associated Press) — The Tropicana hoped to step back into the big leagues when it opened its poker room in the heart of the Las Vegas Strip, touting it as the coolest in town.
Source Close to IGT Proxy Fight Gives Skinny on Tuesday’s Critical Vote
Gambing911.com Senior International Correspondent Jenny Woo had an opportunity Friday to speak to someone intimately close to the IGT power struggle that will culminate on Tuesday into a final vote that determines a potential new makeup of the world’s leading slot manufacturer’s board.
Revolution Poker Launches Fair Play Technology, Lock Lifts Player Segregation
Gambling911.com can report that the largest US-facing online poker network (also accepting players from around the world), Revolution Poker Network, has just launched Fair Play technology
What is Fair Play Technology?
The new feature groups players into three categories (recreational, normal and advanced) whereby each category of players represents roughly 33 percent of the active Network player liquidity.
William Hill Buys Out Online Partner Playtech
(Reuters) - William Hill is to pay 424 million pounds ($643 million) for full control of its online business, marking an acceleration of the expansion of Britain's largest bookmaker.
The deal to buy out the 29 percent stake in William Hill Online held by software company Playtech was the company's second major deal in the past three months.
It has already agreed to pay 460 million pounds for the Australian and Spanish operations of online gambling company Sportingbet, deal set to complete on March 19.
US States Race to Capture Online Gambling Bonanza
(Reuters) - New Jersey Governor Chris Christie this week finally approved online gaming in the Garden State. Now comes the hard part: banding together with other states to attract more gamblers, drive up jackpots and lure players away from offshore websites.
Bitcoin ‘Best Performing Currency Year-to-Date’
Bitcoin, used by a small number of online casino operators, is being touted as the “best performing currency year-to-day” according to Tyler Durden of ZeroHedge.com.
Durden writes:
Girls Gone Wild Goes Bankrupt in Wake of Wynn-Francis Lawsuit
The company that produces racy videos of half naked women dancing and drinking has filed for bankruptcy. “Girls Gone Wild” filed for bankruptcy protection citing $16 million in debts, according to court papers obtained by Reuters on Thursday.
The franchise’s founder, Joe Francis, owes a $10.3 million debt to Las Vegas gambling magnate Steve Wynn according to papers filed in U.S. federal court in Los Angeles on Wednesday.
Analyst Paints Rosey Outlook for Zynga
Joseph Stauff of Susquehanna Financial Group believes the “sky is the limit for Zynga” in the wake of a third state this week legalizing “real money” online gambling.
That state is New Jersey. Governor Chris Christie signed a measure legalizing Web gambling for those logging on within the state. Because New Jersey is within an easy reach of two major metropolitan centers, the industry could potentially tap into a market that nearly doubles the Garden State’s population of 9 million.
Atlantic City Casino Shares Up on NJ Internet Gambling News
(Reuters) - The legalization of online gambling in New Jersey gave a boost to shares of Caesars Entertainment Corp and Boyd Gaming Corp, on expectations that this will revive business in Atlantic City, the second-biggest U.S. gaming destination.
The companies, which together account for more than 60 percent of Atlantic City's gaming revenue, would benefit from new gaming rules that give preference to existing New Jersey casino operators in issuing online gaming licenses.
Gambling Companies, Zynga Shares Get Boost With Christie Decision
New Jersey Governor Chris Christie signing a bill that would legalize online gambling in the state gave publicly traded casino and bookmakers a much needed boost.
Zynga, which plans to offer “real money” Web poker by year’s end or early 2014, witnessed a 3 percent rise on top of a 15 percent increase witnessed over the past week. The world’s largest free-to-play online poker company has been on a roll ever since Nevada legalized interstate Web gambling last week.
Chris Christie on Legalizing Web Poker: ‘A Critical Decision’
Speaking to John Brennan of NorthJersey.com Tuesday, New Jersey Governor Chris Christie had this to say regarding his decision to legalize Web gamblnig in the Garden State: “This was a critical decision, and one that I did not make lightly."
Christie, who had sat on previous bills up to the final hours, signed this third reincarnation within minutes of it hitting his desk.
More IGT Talent Jumping Ship: Competition Snatching Them Up
Last week, Gambling911.com and other media outlets reported on how IGT continued to lose some of its best talent over the past year. On March 5, shareholders will determine whether new members join the board as part of a nasty proxy fight brought on by investor Jason Ader.
Zynga Will Bring Online Gambling to the Masses, CEO Claims
Zynga CEO Mark Pincus insists that Zynga will help bring the online gambling industry to the next level. His company’s share price has seen a 15 percent jump in the past couple of days, fuelled, at least in part, by news that the state of Nevada will now allow interstate Web gambling.
From Cnet.com:
Zynga Shares May Gain Further Momentum as Christie to Sign Web Gambling Bill
New Jersey Governor Chris Christie has said he will sign a bill into law legalizing online gambling once it hits his desk either Wednesday or Thursday of this week, and all eyes will be on the world’s largest free-to-play Internet poker site Zynga.
That company’s shares rose 15 percent to $3.67 Monday morning, representing the single biggest intraday gain since February 8. Zynga’s shares were already up 35 percent on the year.
Why the surge?
Something Fishy: Lock Poker Partitions Players for Improved Ecology
Lock Poker is the latest online site to begin partitioning (or segregating) players. In other words they are separating the so-called “fish” from the high stakes players, also known as “sharks” on the other smaller sharks rooms.
A Lock Poker representative tells Gambling911.com in an exclusive interview that these changes were necessary, and it has absolutely nothing to do with liquidity issues, as some have speculated.
"We segregated because we need to protect our recreational player base," the rep said.
Slots vs. Online Gambling Focus of IGT Proxy Battle: Comes to Head March 5
A March 5 annual meeting will determine the fate of the world’s largest slot manufacture’s board.
Investor Jason Ader is embroiled in a nasty proxy fight with IGT’s current management. Ader wants to place his own hand-picked executives on the board.
He also feels the company has lost its focus.
Ladbrokes Gaining Ground in Online Gambling
(Reuters) - Ladbrokes, Britain's second-largest bookmaker, expects to see payback this year from a 50 million pound ($77 million investment in an online business that had failed to keep pace with rivals.
While growing numbers of people are gambling via smartphones and tablet computers, Ladbrokes has been hit by delays upgrading its technology. It has lost ground to market leader William Hill in online and faced competition from smaller rivals.
IGT’s Best Talent Have Been Jumping Ship: Endorse Ader Move
With the turmoil at IGT, some of that company’s best talent have decided to walk away.
