Business/Financial
Nevada Gambling Revenue Up 7.6 Percent in March
Nevada gambling revenue up 7.6 percent in March; nearly 11 percent on Las Vegas Strip
CARSON CITY, Nev. (Associated Press) -- Nevada casinos won $982 million from gamblers in March, an increase of 7.6 percent from the same month a year ago with most casino games — from baccarat and craps to slot machines — posting better revenue numbers, state regulators reported Tuesday.
Traders Betting on Bookies: Shares Climb
(Reuters) - Bid talk and relief about 'less draconian' Government measures lift the bookmakers
Traders were betting on the bookmakers amid a revival of bid gossip and relief that a clampdown on the gambling industry was likely to be less severe than feared.
Las Vegas Sands Corp Beats Profit Expectations for 2014 Q1
LAS VEGAS (Associated Press) -- Casino giant Las Vegas Sands Corp. said its first-quarter net income rose 36 percent due to a strong performance in Macau, the world's largest gambling market.
Billionaire CEO Sheldon Adelson said Thursday that the company delivered growth in every sector of business in Macau, and reported that plans to add thousands more hotel rooms are on budget and on schedule. He predicted demand in the enclave, the only place in China where gambling is legal, would not be satisfied anytime in the foreseeable future.
IGT Net Income Down 67 Percent as Slot Sales Decline
LAS VEGAS (Associated Press) — Gambling equipment manufacturer International Game Technology said its net income fell 67 percent as sales of slot machines declined and the company faced competition from smaller vendors.
Shares fell $1.45, or 10 percent, to $12.62 Wednesday.
Marc Pincus Steps Down From All Operational Roles at Zynga
The social gaming giant Zynga founder Marc Pincus has stepped down from all operational roles saying ““Ultimately a Ship Is Better With One Captain”.
The announcement was made on Wednesday. Pincus will assume the role of company Chairperson.
Pincus stepped down from his CEO position last year.
Spirit Air Lines Thanks the 99.99 Percent of Its Flyers Who Didn’t Complain
Spirit Air Lines, a prominent carrier at both the Las Vegas and Atlantic City international airports, is thanking its 99.99 percent of flyers who didn’t complain. A recent report that suggests the ultra low cost carrier is the “most complained about airline”.
32Red Sign Rangers FC Shirt Sponsorship Deal but Shares Slump on Day’s Trading
Online gambling firm 32Red announced Monday a new shirt sponsorship deal with the Rangers Football Club, which will run the course of three years.
Despite the good news, shares in the company dipped 6% on the day’s trading. It was not immediately clear what caused the slump.
Ed Ware, Chief Executive Officer, said: "We are delighted to be working with Rangers Football Club and look forward to being part of the continued rise and return of the Club.
Is the Tropicana Buying the Sands Casino Bethlehem? Rumors Run Rampant
All of Eastern Pennsylvania is abuzz with the news that the famed Tropicana Hotel and Casino, a staple in Atlantic City, could be about to buy the Sands Casino Resort in Bethlehem.
Principals from both companies have declined comment when approached by the regional paper the Morning Call.
Ladbrokes Buys Australian Betting Firm BetStar
(Reuters) - Bookmaker Ladbrokes (LAD.L), facing regulatory and tax pressures in its British home market, has expanded its Australian business by buying online betting company Betstar for 12.4 million pounds.
The deal announced by Ladbrokes on Wednesday follows a similar-sized acquisition last September when Ladbrokes - Britain's second-biggest bookmaker - bought online company Bookmaker.com.au and launched a website in Australia.
Activist Investor at Bwin.Party Questions Chairman Appointment
Jason Ader, the activist investor who works extensively in gaming, continues to make waves in the industry. As featured today in the Daily Telegraph, New York-based Ader feels bwin.party is tremendously undervalued.
Ader has reportedly told confidants that bwin needs some changes to meet its full potential in the gaming arena.
GVC Looks Towards More Acquisitions Following Sportingbet Success
(Reuters) - GVC is looking at further acquisitions after turning around the Sportingbet businesses it acquired last year, the online gambling company said on Wednesday.
GVC, one of the smaller players in the sector and listed on the AIM stock market, said operating profit more than doubled to 38.3 million euros ($52.8 million) in 2013, boosted by moving Sportingbet into the black.
"We are now ready for the next stage in our corporate development and further geographic expansion through organic growth and acquisitions," Chief Executive Kenneth Alexander said.
Playtech Gets ‘Buy’ Rating From 12 Agencies
Online gambling software firm Playtech has received a “buy” rating from 12 different agencies that cover the stock.
From the MidEast Times:
Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is GBX 816.10 ($13.53).
Facebook Real Money Mobile Online Gambling Speculation With Oculus Acquisition
There has been plenty of speculation of late that social media giant Facebook could be planning to leap into the mobile online gambling market with its recent acquisition of Oculus.
Another Strong Quarter for Macau Gambling
* Monthly haul of $4.4 billion is third-highest on record
* March revenue at the top end of analyst estimates (Adds details on market, VIP segment, shares)
By Farah Master
HONG KONG - (Reuters) - Macau, the world's casino capital, raked in $4.4 billion in gambling revenues in March, boosted by robust demand from Chinese visitors keen to bet in the country's only legal casino hub.
Growth in Macau, a special administrative region like neighbouring Hong Kong, was up 13 percent in March, at the top end of analyst estimates of 10-13 percent.
Hong Kong Shares Up Before Gambling Revenue Data
BEIJING (Reuters) - Hong Kong shares edged up on Monday as a selloff in energy and manufacturing heavyweights on disappointing earnings was offset by strength in gaming stocks before the release of monthly Macau gambling revenue figures.
Mainland China shares were little changed as some recent gainers were hit by profit-taking but strength in energy shares supported the index.
At midday, the Hang Seng Index was up 0.3 percent at 22,127.25 points, while the China Enterprises Index of the leading offshore Chinese listings in Hong Kong was up 0.4 percent.
Satoshi Nakamoto Claims Not to Have Been Creator of Bitcoin (Video)
LOS ANGELES (Associated Press) - Dorian Prentice Satoshi Nakamoto said Thursday that he is not the creator of bitcoin, adding further mystery to the story of how the world's most popular digital currency came to be.
The denial came after Newsweek published a 4,500-word cover story claiming Nakamoto is the person who wrote the computer code underpinnings of bitcoin.
Ultimate Gaming Joins Forces With Peppermill Resort Spa Casino
LAS VEGAS - Ultimate Gaming, America’s first regulated online gaming operator, and Peppermill Resort Spa Casino, Reno’s premier AAA Four-Diamond resort, have agreed to terms in a joint marketing partnership.
Bitcoin Exchange Executive Found Dead: No Foul Play According to Police
SINGAPORE (Associated Press) — The CEO of a virtual currency exchange was found dead near her home in Singapore.
A police spokesman said Thursday that initial investigations indicated there was no suspicion of "foul play" in the Feb. 26 death, meaning officers do not suspect murder.
The spokesman said police found 28-year-old Autumn Radtke, an American, lying motionless near the apartment tower where she lived.
Police have so far classified the death as "unnatural," which can mean an accident, misadventure, or suicide.
Zynga Hits One-Year High: Surges 8 Percent on Poker News
Social gaming company Zynga saw its shares rise 8% Tuesday on news that it planned to enter the real money online gambling market in jurisdictions where the activity is legal.
CEO Don Mattrick spoke at a Morgan Stanley conference regarding his company’s mobile plans and expansion into more real money gambling markets.
The stock closed up 8.02% to $5.66, up 42 cents from its previous close of $5.24. It amassed a volume of 56,531,323, more than double its average of 27,192,600. It hit a low of $5.43 for the day and holds a one-year low of $2.50.
Japan Finance Minister Gathering Facts on Bitcoin Exchange Mt.Gox
(Reuters) - Japanese Finance Minister Taro Aso said on Tuesday that the government is still trying to figure out what has led to the collapse of the Tokyo-based bitcoin exchange Mt. Gox and is not sure whether crime is involved.
"We still have not had a clear grasp of the situation," Aso said in response to a reporter's question after a cabinet meeting. "(We) don't know if it was a crime or just a bankruptcy."
Bitcoin Businesses Subpoenaed by US Attorney Preet Bharara
(Reuters) - Manhattan U.S. Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges, and businesses that deal in bitcoin to seek information on how they handled recent cyber attacks, a source familiar with the probe said on Wednesday.
In the attacks - known as distributed denial of service attacks - hackers overwhelmed bitcoin exchanges by sending thousands of phantom transactions. At least three exchanges were forced to halt withdrawals of bitcoins on February 7, including Mt. Gox, which was the largest at the time.
Mt.Gox Bitcoin Exchange Files for Bankruptcy
(Reuters) - Mt. Gox, once the world's biggest bitcoin exchange, filed for bankruptcy protection in Japan on Friday, saying it may have lost nearly half a billion dollars worth of the virtual coins due to hacking into its faulty computer system.
The collapse caps a tumultuous few weeks in which the company has remained virtually silent after halting trades of the crypto-currency, shaking the nascent but burgeoning bitcoin community.
Bwin.Party Execs Get 550 Per Cent of Annual Salary: Founders Decline Offer
Bwin.Party shareholders on Monday voted a new pay scheme whereby top executives would receive up to 550 per cent of their annual salary. 70 per cent of voters approved the new deal, however, another 30 per cent objected.
Of those 30 per cent, it was telling that founders Ruth Parasol and her former husband Russell DeLeon were among them.
Bitcoin Shocker as One-Time Largest Exchange Closes Its Doors
In yet another blow to the anonymous digital currency bitcoin, the largest exchange has shut its doors.
Mt.Gox posted an update to its site Tuesday saying a "decision was taken to close all transactions for the time being," citing "recent news reports and the potential repercussions on MtGox's operations.
Playtech to Pay Special Dividend as Profits Rise
(Reuters) - Gaming software developer Playtech (PTEC.L) said it would pay shareholders a special dividend of 100 million pounds ($167 million) as it posted a rise in full-year profit for 2013.
Playtech, which develops software for betting firms such as Paddy Power and Betfair, said on Thursday 2013 adjusted core earnings grew 17 percent to 159.4 million euros excluding the share of profits received from William Hill Online after it sold its stake in the venture last March.
Bwin.Party Shares Up Another 3.5 Per Cent as Ader Prepares His Move
Bwin.Party shares continued to climb on news that an activist investor, Jason Ader, was getting ready to hand pick someone new to join that online gambling firm’s board. Shares rose another 3.5% Wednesday following the February 18 news.
The Bitcoin Revolution on CBS4 South Florida (Video)
“This high tech coin could make cash money obsolete.” That’s the introduction to a special report Wednesday night on CBS4 South Florida. The video itself should be available on the CBS4 website by Thursday morning.
Mt.Gox Bitcoin Exchange Withdrawals to Resume ‘Shortly’
Following a halt to bitcoin withdrawals by one of the anonymous digital currency’s largest exchanges, Mt.Gox, it was announced Monday that these withdrawals should resume “shortly”.
Second Bitcoin Exchange Halts Withdrawals: Canada to Tighten Grip
A second major bitcoin exchange has temporarily ceased withdrawals following an apparent cyberattack that has seen the anonymous digital currency’s price drop in recent days.
Bitstamp followed the move of Mt.Gox by halting withdrawals after hackers had exploited a bug in some underlying software to carry out the attack.
Bitcoin Startup ZipZap.com Could Give Western Union a Run for its Money
CNN Fortune published an article warning that bitcoin start up ZipZap.com could fast become stiff competition for international money exchange outfit Western Union.
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Up until now, Western Union has operated nearly as a monopoly.
