Gambling Companies
Gambling Companies, Gambling Stocks
Black Friday Bank Shut Down
A bank implicated in the processing of funds for three of the world’s largest online poker rooms last April 15 has finally been shut down.
SunFirst Bank in Saint George, Utah, was closed down by US Feds at the close of last week. It is the 87th bank of 2011 to fail.
The US Justice Department alleges that Full Tilt Poker, PokerStars and UB.com enticed officials of SunFirst to disguise online poker transactions as dog food and golf balls. Executives of the three online poker companies were charged with money laundering and bank fraud as a result.
South Point Poker Joins The Gambling911.com Family
In case you haven’t seen their banners flashing all over the site, we at Gambling911.com would like to officially welcome South Point Poker on board as the first Las Vegas Internet poker room.
“We are very thrilled to have them on board,” noted Payton O’Brien, Senior Editor of the Gambling911.com website. “Their entry ushers in a new era of legalized US-based casinos now offering online poker rooms.”
For now, the site will be free-to-play, however, the incentives are enormous.
MGM Head: “Positive Momentum in Congress Toward Passing Online Poker Bill”
In an interview with the Las Vegas Review Journal, MGM Resorts Chairman, Jim Murren, expressed his strong belief that the US Congress will get a bill passed to legalize online poker in the very near future.
"We think there is positive momentum in Congress toward passing a bill," MGM Resorts Chairman Jim Murren said. "It's time for the federal government to address this issue."
Online Poker Traffic Rises 2.2 Percent
Online poker traffic has risen 2.2 percent and there is likely to be another increase in the coming week with PokerStars 70 billionth hand promotion continuing. The world’s largest online poker room witnessed a traffic increase of 6 percent. Traffic also tends to increase leading up to the World Series of Poker Final Table, which will take place next week.
The weekly statistics tell only part of the story, PokerScout.com noted. Same-day comparisons show that the true increase in PokerStars cash game traffic is more than 30 percent.
Bwin.party Shares Soar on News of MGM, Boyd Partnership But Caution Advised
While shares in Bwin.party have soared in recent days with news that the company has joined forces with powerhouse casino brands MGM and Boyd Gaming to offer online poker to US residents once legislation is passed in the States, some analysts have advised caution.
Share prices rose 11p at 120.7p following the news. The companies have entered into a long term 15-year deal.
Bwin, Boyd, MGM Online Poker Deal Terms Revealed
Bwin, PartyPoker, MGM and Boyd Gaming announced Monday their intention to offer Internet poker to US players should the industry become legalized. There is a strong push to get Web poker sites up and running for real cash play at the federal level especially since states like California and New Jersey are vying for a piece of the pie ahead of the federal government.
Under the terms of the deal, Bwin would own 65 per cent of a new company to offer poker to US players, while MGM would own 25 per cent and Boyd 10 per cent.
Full Tilt Poker Attorney Jeff Ifrah Claims US Justice Dept Approves Sale
An outspoken attorney for disgraced online poker firm Full Tilt Poker claims the US Justice Department has reached an agreement whereby they will permit a French company to acquire FTP. Unconfirmed reports suggest the US Justice Department would be responsible for facilitating payouts to players.
Groupe Bernard Tapiehas sought to purchase Full Tilt Poker after following a series of indictments in April 15 that forced the one time second largest Internet poker room to exit the US market. Players worldwide have not received payment in months.
888 Holdings Sees Record Quarterly Rise
Publicly traded 888 Holdings, which runs the 4th biggest online poker room in the world, has reported a record quarterly high.
888 climbed as much as 5.3 percent, the most since August 30, before trading 2.3 percent higher at 33.75 pence as of 9:10 a.m. in London, according to Bloomberg News Tuesday. This gives the Gibraltar-based company a market value of 117.1 million pounds ($187 million).
MGM, Boyd Join Forces With Bwin, PartyPoker to Offer Online Poker
Yet another major casino company has announced a partnership with an already existing online poker group.
Casino operators MGM Resorts International and Boyd Gaming Corp. have teamed up with Bwin.party to prepare to offer Internet gambling. Bwin.party is the largest Web betting firm worldwide, comprising of PartyPoker, the 2nd biggest Internet card room, and Bwin, the largest Web sportsbook. The combined company’s net revenue last year was 814 million euros.
Billionaires Bet on Internet Gambling: Say it Will be a Marathon, Not a Sprint
Forbes.com featured a piece Monday on how billionaires are looking to back the likelihood of Internet gambling getting regulated in the United States.
The likes of Steven Roth, chairman of Vornado Realty Trust, and shopping mall magnate Herbert Simon, the owner of the Indiana Pacers, have invested in a firm that provides software and advertising services to potential online gambling licensees in the US, including the Vegas casinos.
Zynga Poker Takes Over Advertising Sports for PokerStars, Full Tilt on ESPN
The fine folks from WickedChopsPoker.com were among the first to discover that Zynga Poker, the free online poker room with over 29 million monthly users (8 million daily), has just begun advertising on ESPN.com.
What is the significance of this?
Two things.
Cereus, Absolute Poker, UB.com Plan to Liquidate Assets to Pay Back Players
Blanca Games, the company that owns the Cereus Poker Network and its brands, Absolute Poker and UB.com, have submitted a plan to the US Justice Department that would result in the repayment of players. Part of that plan would include the liquidation of assets.
Merge Poker Traffic Soars 21 Percent
After opening back up to the US market, Merge Gaming has seen its traffic shoot up 21 percent over the past two weeks. Merge is home to such big name online poker brands as Lock Poker, Carbon Poker and Sportsbook.com’s Internet poker arm.
Following an eight week absence from the top 10 trafficked global online poker rooms, Merge returned and sits in the number 10 spot this week.
Overall Web poker traffic declined 1.2 percent over the past week.
Fertitta Interactive Positioning Itself for Legalized Internet Poker
Fertitta Interactive, owned by brothers Frank Fertitta III and Lorenzo Fertitta, announced the purchase of California online gambling company CyberArts Licensing LLC Wednesday.
The brothers, who also own Stations Casinos and the Ultimate Fighting Championship (UFC), are hoping to get a jump start should the US legalize online gambling, specifically Internet poker.
Clive Archer Has Left The Building
BetOnline, the fastest growing sportsbook in the US, today announced the departure of Clive Archer. During his tenure within the organization, Clive held various roles including Director of Business Development and Chief Executive Officer. The parting was by mutual agreement.
“Clive very successfully helped us re-position the organization for growth and brought many in the industry to the BetOnline table,” said a BetOnline spokesperson. “We wish him only the best with all future endeavors.”
Tel A-Heave Ho: Fish Feeder, Rabbi, Hairdresser on Books at William Hill Tel Aviv Office
The turmoil continues at William Hill following a mass exodus of employees in its Affiliates United Tel Aviv-based online support centre last week. The company revealed on Monday that it had canned three of its managers based out of Israel.
The support centre is 79 percent owned by Hill and 21 percent owned by its software provider, Playtech.
Kahnawake: Positive Outcome Coming Regarding Absolute Poker?
The Kahnawake Gambling Commission, which licenses troubled online poker firm UB.com and its sister site Absolute Poker, has been in correspondence with affected players recently, suggesting a positive outcome is coming soon.
While Absolute Poker and UB.com have continued to pay players outside the US in small increments, those living in the States have been waiting for payment since April. That is when two executives of the company were indicted. Charges included money laundering and bank fraud. Absolute Poker/UB.com were forced to flee the US market as a result.
Full Tilt Poker Lays Off Remaining Staff
Disgraced online poker firm Full Tilt Poker has laid off its remaining staff of 180 employees in Dublin, Ireland. The company had its license officially revoked last month following a series of US indictments.
A handful of poker pros/shareholders in the company, including Howard Lederer and Chris Ferguson, are accused by the US Government of perpetrating an elaborate ponzi scheme.
US Customers of Full Tilt Poker have yet to be paid since April 15 while those worldwide have not received payouts since late June.
Nevada Will Have Real Cash Online Poker Come January
Intrastate online poker for real money is anticipated this coming January in the state of Nevada. Should legislation pass at the federal level, Nevada would then permit those across state lines to play. They, the licensed casinos in Nevada, would become the hub for interstate online poker at that point.
A source close to the situation noted that there is some confusion related to Nevada’s passage of a measure that permits real cash online poker and that Gambling911.com is not exactly helping in this regard.
William Hill Execs Locked Out of Their Own Office: Implosion Within, Shares Fall
The riff between William Hill and its Tel Aviv-based online support and affiliate center, Affiliates United, continued through the weekend following a mass employee walkout last Sunday. Fewer than 20 employees reported back to work.
The Affiliates United employees were told by a former manager of the support center that they would be relocating to William Hill’s Gibraltar base.
Lock Poker CEO Jennifer Larson Applauds Lock Pro Chris Moorman WSOPE Finish
It is the year of the number two making headlines with World Series of Poker bracelet record holder Phil Hellmuth finishing second in three of this year’s events. Now comes another big number two finish, Lock Poker pro Chris Moorman.
His second place finish at this past week’s World Series of Poker Europe earned him $1.1 million and some change. It was his second consecutive number two finish having walked away with $716,282 at the WSOP No Limit Hold’em Six Handed Championship over the summer.
Tim Trushel Abruptly Resigns from his Own Website Sports Memo
Tim Trushel, the president and owner of the Sports Memo group announced his resignation on Tuesday in a shocking development in the sports advisory business. (see blog post here)
Donald Trump to Enter Online Poker Fray
Real estate, entertainment and casino mogul Donald Trump has teamed up with hedge funds manager Marc Lasry in an effort to get a piece of the online poker industry pie once the activity becomes licensed and regulated in the United States.
From Bloomberg News:
House Committee Hearing on Internet Poker Next Week has Many Excited
The House Energy and Commerce Manufacturing subpanel will hold a hearing Tuesday on Internet gambling.
“I am pleased that Chairman Bono-Mack is holding a hearing on the important issue of Internet gaming," said Rep. Joe Barton (R-Texas in an interview with The Hill. The Congressman introduced a bill that would legalize online poker in the United States.
The Class Action Lawsuits Against Full Tilt Poker Keep Coming
Yet another class action lawsuit has been filed against defunct online poker company Full Tilt Poker.
The Merge Surge
PocketFives.com reports that Merge Gaming has enjoyed quite an uplift after opening to the North American market this past week.
Traffic grew by 15 percent, P5s noted.
PokerScout.com, the traffic monitoring website for online poker reported the following:
William Hill Promises Its Affiliates United Branch Staff Six Months Notice of Termination
The United Kingdom’s largest online bookmaker, William Hill, has promised its Tel Aviv-based online affiliate staff, Affiliates United (AffUtd), one month's extra pay and six months notice in the event their jobs are set to be terminated.
WSOPE Main Event 2011 Final Table: Lock Poker Pro Chris Moorman Makes the Cut
Lock Poker pros Chris Moorman made the WSOPE Main Event 2011 final table as did online poker phenom Patrik Antonius.
“We are all rooting for Chris,” Lock Poker CEO Jennifer Larson told Gambling911.com late Wednesday.
His appearance among the top 9 finalists is certainly great exposure for one of the fastest growing online poker rooms. Another Lock pro, Michael Drummond, also enjoyed a strong finish at number 16.
William Hill Share Price in Tizzy Following Tel Aviv Uprising
William Hill’s share price was -4.1p at 224.7p Wednesday as executives from the company tried desperately to quash an uprising in its Tel Aviv Internet support centre.
The company issued a statement on Tuesday that several higher-ups at that office would receive disciplinary action for suggesting to employees they were either being relocated to the company’s Gibraltar office or that their jobs might ultimately be disposed of altogether. More than 200 of the Tel Aviv employees abandoned their jobs as a result of this news.
