Business/Financial
Markets Tank: Wall Street Stocks Down More Than 2 Percent
It was another nail biter on Wall Street today as stocks fell more than 2 percent.
At press time 2 pm EST, stocks were at 10174.64 -269.73.
Paddy Power Profits
DUBLIN - (Reuters) - Irish bookmaker Paddy Power (PAP.I) said sports results so far this year had gone its way and Internet
Ladbrokes CEO Promises Turnaround
Ladbrokes new CEO Richard Glynn has promised a swift turnaround for his company following news of a 6 percent drop in net revenue. Glynn joined the company in last month.
"In recent times the strength of our brand has diminished. In online and offline areas, we feel the need for Ladbrokes to regain its primacy," CEO Richard Glynn told the Wall Street Journal "We will be looking at every area of the business. We will be leaving no stone unturned," Mr. Glynn said, without elaborating.
Bwin Takes Hit With Online Poker
The popular Austrian betting firm Bwin reports it witnessed a 17 percent drop in revenues from its online poker room (called Bwin Poker). Bwin is part of the Ongame network, which itself has seen
City Center Las Vegas Continues to Struggle
MGM Mirage's CEO stated that despite operating losses and a write-down on its CityCenter joint venture, the casino operator has solid plans to attract more customers to struggling Las Vegas.
The company's plans have long centered around CityCenter, the $8.5 billion complex of resorts, restaurants, entertainment, retail shops and a casino it built with Dubai World, which opened in December. And state and local leaders have looked to CityCenter as a must-see attraction that will provide jobs and renewed motivation for visitors to come.
Microgaming Announces Joint Venture with 888 Holdings
Microgaming, the world's largest provider of online gaming software, has announced a joint venture with 888 Holdings plc which, subject to the necessary licence approvals, will deliver a French Pok
Unemployment Up to 9.9%: Betting Market Grim Forecast
The economy added a net 290,000 jobs but that didn't stop unemployment from going up to 9.9% from 9.7% last month.
Sabotage Not Ruled Out In Wall Street Plunge: Bettors React
President Obama has not ruled out sabotage in Thursday's shocking near 1,000 point loss on the Stock Exchange after rebounding later in the day.
The president announced Friday morning that a full review is being conducted, and Gibbs said Obama is waiting to hear the results of a review before ruling out what might have caused it, including the possibility of sabotage, The Hill reported on Friday afternoon.
Greece Economic Crisis: Why US Faces Big Fat Greek Bankruptcy
Wayne Allyn Root, the 2008 Libertarian Party Vice Presidential nominee and frequent contributor to the Gambling911.com website, chimes in on the economic crisis in Greece and why he thinks America
MGM Mirage, Sands Corp Report Earnings
MGM Mirage released earnings for the first quarter of 2010 prior to the Stock Market opening Thursday morning.
Las Vegas Sands Corp to Announce 1st Quarter Results
Las Vegas Sands Corp.
Macau Gambling Revenue Hits Record
(Reuters) - Gambling revenue in Macau in April surged 70 percent from a year earlier to a record, Royal Bank of Scotland (RBS) (RBS.L) said, underscoring sustained growth in the world's largest and
William Hill to Bid for Centrebet
The United Kingdom's second largest bookmaker, William Hill, is looking to acquire Australia's second largest privately held bookmaker, Centrebet.
Centrebet originated from Alice Springs, Northern Territory and was the first bookmaker to be licensed in Australia in 1993 and the first bookmaker to go online in the Southern Hemisphere. Centrebet was acquired by its biggest domestic rival, the SportOdds Group in 2003 for the sum of AUD$46.55 million. In 2005, SportOdds merged its Centrebet, SportOdds.com and SuperOdds.co.uk businesses into one entity, known as Centrebet.
Financial Odds: Which Nation Will Drop The Euro First?
Greece and now Spain look to be in some serious trouble. A total of 3837 people at intrade.com were betting th
William Hill Gets Online Sales Boost
(Reuters) - Britain's second-biggest bookmaker William Hill (WMH.L) said it had made an encouraging start to the year, boos
Marina Bay Sands vs. James Packer’s City of Dreams Macau
The land based casino wars continue to heat up, and 'Our James'... Australian James Packer is in the thick of the action.
Packer's Crown Casino faces increased competition down under in Australia from Sydney's revamped Star City, and now Sands has opened in Singapore, in a move that insiders say will lure whales and dolphins away from Crown Macau, but don't underestimate the loyalty to Packer. Many have bet against the Aussie - Asia Pacific casino king before and lost. Media Man and Gambling911 with the story...
Harrah’s: Online Poker Could Bring in Billions
BEVERLY HILLS (Reuters) - Gary Loveman, chief executive officer at Harrah's Entertainment Inc, sees few signs of a recovery in Las Vegas, but believes U.S.
Crown Casino Plays Restaurant and Hotel Card
Crown Casino king James Packer and his 'World Of Entertainment' empire have been telling folks that they're in the tourism, lifestyle and entertainment business for a few years now.
Bet365 3rd Fastest Growing Profit of Private UK Companies
According to the Sunday Times PricewaterhouseCoopers Profit Track 100 league table, privately held Bet365 is the third fastest growing private company in terms of profit.
From EGR Magazine:
Steve Wynn Mulls Move to Macau
(Market Watch) - Wynn, during an interview Wednesday to promote the launch of Encore Macau, told CNBC he is looking at shifting the company headquarters to Macau, without providing
PartyGaming and Bwin to Merge This Summer
(Reuters) - Online gambling groups PartyGaming and Bwin, long the subject of merger speculation, will complete a deal this summer, an Austrian magazine reported on Friday without citing sources.
Sportingbet to Move up from Aim
By Pan Kwan Yuk
Financial Times UK
Newspaper Industry Looks to Online Gambling to Boost Profits
Mainstream newspapers in Australia and the United States are starting to plug into the streets paved with gold - online gambling, following the lead from our United Kingdom based media mates.
Media Man and Gambling911 probe the situation in an Aussie - Yankee double investigation, with earlier indicators showing that newspapers are seeing the "green", following the money trail to gambling, be it in AUD, USD, GBP or monetary other denominations.
Steve Wynn Divorce Among Most Expensive
Steve Wynn's $1 billion divoce may be the most expensive ever, at least according to Wynn. He and his wife Elaine split their 38 percent stake in Wynn Resorts Ltd. Elaine walked away with $955
Betfair Closer to IPO
We haven't seen many IPOs in the online gambling sector in recent years. That may be about to chance as Betfair reportedly prepares to go public.
Betfair has hired Morgan Stanley director Mark Brooker as head of strategy, according to EGR Magazine. It is the first in a series of anticipated moves prior to the potential £1.5bn flotation.
Donald Trump Gains Control of Casinos
Donald J. Trump is hoping the third time will be the charm.
As it prepares to exit bankruptcy court for the third time, Trump Entertainment Resorts and its three Atlantic City casinos will be under the control of Mr. Trump and bondholders after a court ruling on Monday.
Wynn Terminates Philadelphia Deal
A Foxwoods Casino in Philadelphia? It's not happening. At least Wynn will no longer be part of the project.
Wynn Resorts, Limited (NASDAQ: WYNN) announced Thursday that Development Associates, LLC, and certain other of its wholly owned subsidiaries have terminated all agreements and negotiations with respect to a potential investment in the Foxwoods Casino project in Philadelphia, PA.
British Bookmakers Victorious Last Week
The British bookmakers breathed a respective sigh of relief this past week and were £45million richer thanks to Cheltenham and odds-on Kauto Star tumbled out of the Gold Cup.
Virgin Games Hunts for New Ad Agency
LONDON - Virgin Games is on the hunt for an agency to handle its UK advertising business
Gambling: MGM Partner Said to Have Organized Crime Ties
The MGM Mirage is trying to sever its ties with MGM Grand Macau, claiming that the later's co-owner, Patsy Ho, is "financially dependent on her father, casino magnate Stanley Ho." Addit
