Business/Financial

AsianLogic and TotelFootball Deal Brings Fantasy Football Betting to Asia

Fantasy Football in Asia?  Yes, this phenomenon is spreading like wildfire it seems. 

Fantasy sports pools betting provider Totel Football has secured a deal with leading land based and online gaming operator AsianLogic, which will see AsianLogic spearhead growth throughout the Asia-Pacific region.

Submitted by Aaron Goldstein on, Feb/04/2013

Macau Gambling Revenue Up 7.3 Percent

(Reuters) - Gambling revenue in Macau rose 7.3 percent in January year-on-year, riding on the waves of Chinese punters keen to bet in the world's largest casino market.

January's revenue at 26.9 billion patacas ($3.4 billion) was slightly weaker than analysts' forecasts of 10-12 percent growth.

Submitted by Reuters on, Feb/01/2013

Scientific Games Acquiring WMS Industries

(Reuters) - Scientific Games Corp (SGMS.O), which makes tickets and software for lotteries, said it would acquire slot machine maker WMS Industries Inc (WMS.N) for about $1.42 billion to beef up its exposure to the booming casino gaming industry.

The deal, coming soon after casino operator Pinnacle Entertainment's (PNK.N) $869 million acquisition of Ameristar Casinos (ASCA.O) in December, highlights the consolidation in the casino industry driven by gaming demand from emerging markets such as China.

Submitted by Reuters on, Jan/31/2013

Tote Bet on Fantasy Football: New BetFred Deal

Betfred has signed a deal with TotelFootball to make pool betting on fantasy football available to Totepool.com customers. This is the first deal the Tote, now owned by Betfred, has done with a third party for another pool product and is indicative of Betfred’s ambitions to take pool betting to a new level, across all sports, internationally.

Submitted by Press Release on, Jan/30/2013

Major US-Facing Online Gambling Site Confirms Bitcoin Implemenation

Sources close to Gambling911.com have confirmed that one of the bigger names in US-facing online gambling is in the process of developing a Bitcoin platform. 

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Submitted by Alejandro Botticelli on, Jan/28/2013

Patti Hart Purge: IGT Proxy Fight Makes the Wall Street Journal

An intense proxy fight at online gambling behemoth IGT has made it to the pages of the Wall Street Journal.

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Submitted by Aaron Goldstein on, Jan/28/2013

Ladbrokes Buys Betdaq for €30m

One of the United Kingdom’s biggest bookmakers, Ladbrokes, has agreed to acquire Betdaq from TBH Ltd. in a deal said to be worth €30m.  Ladbrokes will also acquire a 10 percent stake in TBH Guernsey Ltd, which is the technology partner of Betdaq for an additional €4m.

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Submitted by Aaron Goldstein on, Jan/24/2013

Crown Gambling CEO Linked to Taiwan Gambling Probe

Crown Ltd CEO Rowen Craigie has been named in an investigation into the alleged channelling of $US180 million in illicit gambling funds from Taiwan to Macau. 

From the Sydney Morning Herald

Submitted by Aaron Goldstein on, Jan/15/2013

Revel Casino Gets $150 Million More in New Financing

ATLANTIC CITY, N.J. (Associated Press) While some questioned the wisdom of opening a $2.4 billion casino resort in a cutthroat market at the end of a nationwide financial meltdown, some investors still believe in Revel.

Atlantic City's newest casino, one that has struggled to find a place in the seaside gambling market, has obtained $150 million in new financing to help keep it going.

Submitted by Associated Press on, Dec/31/2012

Zynga Shuts Down PetVille, Mafia Wars 2 and More for Cost Cutting

It’s curtains for 11 Zynga titles as the publicly traded social media company is looking to cut costs.

The casualties include PetVille, Mafia Wars 2, Fishville and Indiana Jones Adventure World.

Late this year, Zynga announced it will focus more heavily on real money online poker during the early part of 2013 ahead of inevitable legislation in the USA. 

The company also announced it was slashing 5 percent of its full-time workforce while shutting down its Japan office. 

Submitted by Aaron Goldstein on, Dec/31/2012

William Hill Deadline to Acquire Sportingbet Extended

(Reuters) - William Hill , Britain's largest bookmaker, has been given more time to finalise a 485 million pound ($785 million) takeover of rival gambling group Sportingbet.

The companies have provisionally agreed a cash and shares deal which would value Sportingbet shares at 56.1 pence each. William Hill is making a joint bid with smaller betting firm GVC Holdings .

The deadline for a formal offer to be submitted has been extended until Friday, December 21, the three companies said on Tuesday. It had been due to expire later on Tuesday.

Submitted by Reuters on, Dec/18/2012

Zynga Shares Soar Thursday on News of Real Money Online Poker Move

The world’s largest free-to-play online poker company announced in after hours Wednesday that it had applied for a license to operate real money online poker with the state of Nevada.

Thursday, stocks shot up to 5 percent by mid afternoon Thursday.

Analysts remained cautious regarding the news nonetheless.  

Submitted by Aaron Goldstein on, Dec/06/2012

Zynga Applies for Nevada Online Poker License

The world’s largest free-to-play online poker site, Zynga, has applied for a Nevada online poker site that the company said could take up to a year before they are up and running to accept real money from US customers, or at least those in the state of Nevada.

Submitted by Aaron Goldstein on, Dec/05/2012

Intrade Sued by Regulators: Stops Taking ‘Real Money’ Bets from US

Dublin, Ireland-based betting exchange Intrade is being sued by regulators and it's not all about the company's wagering services, the Wall Street Journal revealed on Monday

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Submitted by Aaron Goldstein on, Nov/26/2012

Las Vegas Sands Board Approves Special Dividend

(Nasdaq) - Las Vegas Sands Corp.'s (LVS) board has approved a special dividend of $2.75 a share, as the casino operator looks to boost shareholder returns.

Shares jumped 4% to $45.77 after-hours Monday.

The dividend will be paid on Dec. 18 to shareholders of record as of Dec. 10 and will cost the company about $2.26 billion. Las Vegas Sands had about $3.75 billion in cash and cash equivalents as of Sept. 30 and 823.4 million shares outstanding as of Nov. 1.

Submitted by Press Release on, Nov/26/2012

Marketing Spend Lifts Paddy Power Q3 Revenues

DUBLIN - (Reuters) – Increased marketing spending helped Irish bookmaker Paddy Power to third-quarter revenues up 23 percent on last year, while favourable results boosted its returns on sports betting.

The Dublin-based group has been more adept than larger rivals at reacting to punters moving to online gambling and saw internet sports betting activity climb by 28 percent in the three months to Nov. 14.

Submitted by Reuters on, Nov/18/2012

Penn National Gaming to Split Into Two

NEW YORK -  (Associated Press) -- Shares of Penn National Gaming Inc. hit their highest price since early 2008 on Friday, after the casino and racetrack operator said it plans to split its business into two separate public companies.

It will complete the separation by spinning off its real estate assets into a real estate investment trust. Its gaming business will then stand alone. The split is subject to gaming regulatory approval, which Penn expects to receive in the next nine to 12 months. It expects to complete the spinoff of the REIT in the second half of 2013.

Submitted by Associated Press on, Nov/16/2012

William Hill to Get More Time for Sportingbet Bid

LONDON (Reuters) - William Hill, Britain's largest bookmaker, will get more time to finalise a proposed 530 million pound ($843 million) offer for online gaming group Sportingbet, sources close to the deal said.

William Hill and smaller partner GVC Holdings won provisional backing for the takeover proposal from the Sportingbet board last month.

The deadline to submit a formal offer is 1700 GMT on November 13 but that is likely to be extended by four weeks to allow more time for due diligence, the sources said on Monday.

Submitted by Reuters on, Nov/12/2012

Betfair Slashes Dozens of Jobs: Gets Rid of UK Director

Europe’s biggest betting exchange, Betfair, announced it is laying off 50 employees and will part ways with UK Director Peter Marcus.

Mr. Marcus had previously been recruited by William Hill and was only on the job 14 months.  He will leave his post in the coming days.

CEO Breon Corcoran is looking to shake up the organization and was in the midst of conducting a company strategic review scheduled for conclusion on December 13. 

Submitted by Aaron Goldstein on, Nov/09/2012

MGM Gets Final Approval for Online Poker License in Nevada

MGM has been approved for its online poker license in the state of Nevada and plans to launch a free-to-play website by March.

Submitted by Aaron Goldstein on, Nov/01/2012

Atlantic City Casinos to Reopen Once Governor Lifts Evacuation Orders

As Atlantic City’s 12 casinos economic losses begin mounting, officials still are unsure just when the establishments will be ready to reopen.

Each reported only minimal damage from Hurricane Sandy and will be prepared to reopen once New Jersey Governor lifts the evacuation order.  It was not immediately clear when that will occur, however.  

Submitted by Aaron Goldstein on, Nov/01/2012

Betable Looks to Take on Zynga: Recruits Three Rivals Including Slingo

Betable has teamed up with three social gaming companies to expand into real money online poker, following rival Zynga’s lead. 

Slingo Inc., the maker of bingo and slots titles, will use its UK gambling license and technology to help Betable compete directly with Zynga, the largest of the free-to-play online poker ventures.  Zynga last week announced a partnership with Bwin.Party Digital Entertainment Plc.

Submitted by Aaron Goldstein on, Oct/31/2012

Unibet Profits Cut in Half as Business Slows for 3rd Quarter of 2012

Unibet gross Winnings Revenue amounted to GBP 43.8 (37.8) million for the third quarter of 2012 and GBP 140.3 (109.7) million for the period January to September 2012.

Profit from operations for the third quarter 2012 amounted to GBP 4.5 (8.2) million and GBP 22.6 (26.6) million for the period January to September 2012. Excluding a one off tax payment of GBP 2.6 million, profit from operations for the third quarter 2012 would have been GBP 7.1 million.

Submitted by Aaron Goldstein on, Oct/31/2012

Neteller to Re-Enter US Market With Caesars Partnership

Caesars Interactive announced on Tuesday it has partnered up with Isle of Man-based payment processor Neteller via its parent company, Optimal Payments. 

“This is a groundbreaking deal for Optimal Payments and demonstrates our ability to provide real value to globally renowned, land-based gaming operators and their leading brands, as the first step in our strategy to capitalize on the regulated U.S. market.”

Submitted by Aaron Goldstein on, Oct/30/2012

bwin.party Gaming Platforms to Be Powered by Lightstreamer Real-Time Technology

Weswit, a global leader in real-time web solutions, today announced that bwin.party (LSE:BPTY), the global online gaming company, has re-selected Lightstreamer to power its world-class gaming and betting platforms.

bwin.party, which has millions of customers worldwide and pro forma net revenue in 2011 of EUR816.0 million, will progressively deploy Lightstreamer in its online poker, casino, and bingo product verticals.

Submitted by Press Release on, Oct/29/2012

Pinnacle Entertainment 3rd Quarter Loss Narrows

LAS VEGAS (Associated Press) — Shares of Pinnacle Entertainment hit annual highs Wednesday after the casino operator halved its losses for the third quarter and beat Wall Street expectations.

The company lost $358 million, or a penny per share, compared with $790 million, or a penny per share, a year ago. The company took a bigger loss from discontinued operations last year, which cause the per-shares results to even out. Adjusted income per share, which takes out some expenses, sold properties and other one-time items, rose 20 percent to 30 cents per share.

Submitted by Associated Press on, Oct/25/2012

Zynga Shares Jump After Company Revenue Beats Expectations

(Reuters) - Zynga Inc raised the lower end of its 2012 earnings outlook after quarterly revenue beat Wall Street's rock-bottom expectations, driving its shares 13 percent higher.

As pressure fell on the embattled "FarmVille" creator to show Wednesday that it has stabilized its spiraling business, the company assuaged investors with a series of minor announcements, from a new deal with British firm bwin.party to offer online real-money gambling in the United Kingdom to a $200 million share buyback plan that would lift its dismal share price.

Submitted by Reuters on, Oct/24/2012

Zynga Lay Offs in Boston, Austin, Japan and Great Britain Leave Hundreds Out of Work

Zynga on Tuesday announced it was laying off 5 percent of its full-time workforce, mostly in Boston and Austin.  It will also be shutting down offices in the UK and Japan. 

Reuters News Service received a copy of the message to employees, which came a day before third-quarter earnings were to be announced.

"This is the most painful part of an overall cost reduction plan that also includes significant cuts in spending on data hosting, advertising and outside services, primarily contractors," Pincus said in his memo.

Submitted by Aaron Goldstein on, Oct/24/2012

William Hill Online Poker Revenue Down

William Hill, the United Kingdom’s largest bookmaker, reported net poker revenue down 24 percent in the third quarter of 2012.  Hill’s online poker platform is tied to Playtech and its iPoker Network, the 2nd most trafficked in the world. 

The change is significant compared to last year during the same period. 

Sportsbook turnover, on the other hand, was up 27 percent while the casino grew by 2 percent.  Bingo was up 6 percent. 

Submitted by Aaron Goldstein on, Oct/22/2012

MGM to Develop New Casino in Macau

HONG KONG - (Associated Press) — The Chinese arm of U.S. casino company MGM Resorts International signed a land deal Thursday for a new $2.5 billion casino resort in Macau, the world's biggest gambling market, hoping to catch up with the rapid expansion of rival casino operators.

MGM China Holdings Ltd. said it formally accepted a long-awaited land concession contract from the Macau government for a 7.2 hectare (17.7 acre) plot in the Cotai district, an area of reclaimed land that's earmarked for all new casinos in the Asian gambling haven.

Submitted by Associated Press on, Oct/18/2012

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