Loretta Lynch May Not Get Vote Over Answer to Online Gambling Question
At least one US Senator has said he will likely not vote to confirm Attorney General nominee Loretta Lynch based on her answer to a question regarding online gambling, more specifically her unwillingness to overturn the 2011 Office of Legal Counsel opinion limiting the scope of the 1961 Wire Act to sports betting.
Mafia Thrives on Italy's Legalized Gambling Addiction
(Reuters) - Legalizing gambling in Italy was supposed to help curb the mafia. Unfortunately, prosecutors say, it has only created new opportunities for the mob.
Cash-strapped Italian governments desperate for revenue have relaxed the rules on betting over the past two decades, to the point that Italians now wager $80 billion euros ($86 billion) a year - nearly equal to 5 percent of gross domestic product.
Atlantic City Casino Revenue Down Another 14.8 Percent
ATLANTIC CITY, New Jersey — (Associated Press) - Atlantic City's February casino revenue declined by 14.8 compared with a year ago, when there were 11 casinos operating instead of the current eight.
Even the eight surviving casinos saw their revenue fall by 1.9 percent compared with February 2014.
The casinos won $178.4 million in February, a month beset by snowy weather.
Chaffetz Pisses Off State Lottery Officials
Throughout the years, the state lotteries have proven to be a force when it comes to potential gambling legislation. Such was the case in 2006, when state lotteries were able to detach themselves from what would ultimately become the Unlawful Internet Gaming Enforcement Act or UIGEA. Bottom line: Don’t mess with the state lotteries.
Bwin.Party Potential Suitor Talks Reach Fever Pitch
LONDON - (Reuters) - Online gambling firm Bwin.party said talks about selling all or part of its business had become more serious, as it battles headwinds such as the decline of regulated poker markets in Europe.
Bwin, which was created by a merger of sports betting group bwin and online poker group PartyGaming in 2011, said in November it was considering a range of proposals from interested parties.
Canada's Amaya Gaming, which last year bought online gambling sites PokerStars and Full Tilt Poker, was one party named in media reports last year as being interested.
San Jose CA Largest Gambling Bust on Record: Vietnamese Cafes Caught in Crossfire
San Jose, California police confirmed raids on several Vietnamese owned cafes to root out illegal gambling machines at the establishments.
The raids were designated “Operation Omni”, coming about following a year-and-a-half investigation.
“The only thing I can confirm at this time is that we are serving multiple search warrants and arrest warrants in the area,” FBI special agent Greg Wuthrich told KPIX 5.
The following cafes were raided:
2016 Super Bowl Betting Market Fluctuations After Free Agency the Most Fluid Ever
“We don’t remember a day like this where the Super Bowl betting market saw so much change in a short period of time.”
Daily Fantasy Sports Leagues Not Mad for March Madness as Most Shun College Hoops
For the second time this year, fantasy sports leagues will be shut out of the action for a major sporting event.
Last month, none of the leagues weren't able to hold daily fantasy contests for the Super Bowl because Federal law bans fantasy play based on a single game.
This month, most fantasy sports leagues won't be holding any contests in connection with March Madness, the annual NCAA basketball tournament, because most leagues don't get involved with any college sports.
LAPT8 Chile: Oscar Alache Wins His Second LAPT Title in this Country
Oscar Alache lifted his second trophy in the history of Latin American Poker Tour, which only Fabian Ortiz and Nacho Barbero were able to boast about. Alache achieved this at his home country, next to his people and leading a Final table full of experienced poker professionals.
42 Alleged Mobsters Brought Down in Italy
Italian military police, the Carabinieri, have arrested 42 suspected mafia members in the Southern part of the country, it was revealed on Tuesday. The individuals are accused of extorting tens of thousands of euros from businesses.
Homes in 11 provinces were raided as a result of the investigation with the syndicate based out of the village of Casal di Principe near Naples.
Man Involved in Fatal Car Crash After 500,000 Euros Gambling Win Goes on Trial
BERLIN (Associated Press) — A man faces a possible five-year prison sentence for allegedly causing a fatal accident driving the wrong way down a German Autobahn after winning more than 500,000 euros ($537,000) gambling and going on a 36-hour alcohol and cocaine-fueled binge.
The 51-year-old man, identified only as Marko M., went on trial in Wiesbaden state court Tuesday for negligent homicide and six counts of causing bodily harm.
DraftKings May be Off the Hook With Class Action Clause
As reported on the Gambling911.com website and elsewhere, one of the world’s largest daily fantasy websites DraftKings is now the subject of a class action lawsuit claiming false advertising. But the Boston-based company may have an ace up their sleeve according to the legal firm JD Supra.
Senator Pushing for Web Gambling Prohibition has Never Used Email
Republican Senator Lindsey Graham of South Carolina has never used email though he claims to know plenty about the perceived dangers of Web gambling.
Graham is the co-author of legislation that seeks to prohibit most forms of online gambling, though horse racing, most state lotteries and fantasy sports will remain exempt. The bill is backed by GOP mega donor and casino billionaire Sheldon Adelson.
‘Simpsons’ Creator, Poker Pro Sam Simon Succumbs to Cancer
Sam Simon, the colorful creator of the longest running animated series “The Simpsons” has passed away at the age of 59.
2015 PokerStars UK & Ireland Poker Tour Season 5 Dates Set
Following its first stop in London, the PokerStars UK and Ireland Poker Tour (UKIPT) continues Season 5 with a stop at Dusk Till Dawn Casino in Nottingham from April 12th-19th. The tour will then set sail across The Channel in June for a week in the sun at the PokerStars Marbella Festival before it heads back to the nation’s top poker destinations; hitting Bristol, Isle of Man and Edinburgh.
MGM Stock Falling on Macau Concerns
MGM Resorts International shares were down 3.01% to $20.97 in late morning trading Monday as concerns continue over China’s Macau gambling hub taking a revenue hit.
Gaming revenue is forecast to decline on fears of the impact from a crackdown by the Chinese government.
"Macau is in a tough spot. We believe dividends will be slashed across the board," Zhou, analyst Jamie Zhou of the Hong Kong-based firm Macquarie Securities told Bloomberg.
PokerStars Launches MicroMillions 10 Championship
PokerStars.com, an Amaya Inc. (TSX: AYA) company, today announced that the MicroMillions 10 championship, which features 100 events and $5 million in guaranteed prize money, is set to take place from March 19-29.
MicroMillions is the world’s most popular tournament series, which has seen more than one million tournament entries for each championship held to date. Buy-ins for the next series begin at just $0.11 and max out at $22 for the No Limit Hold’em Main Event, which takes place on March 29 at 14.30 ET and features a $1 million guarantee.
Brits Blowing Away £1.7billion on Gambling Machines
The Mail on Sunday this weekend revealed that those living in the UK are spending £1.7billion gambling on fixed-odds betting terminals.
Poker Pro Paul Phua Son Pleads Guilty in World Cup Betting Probe: Was Homesick
LAS VEGAS — (Associated Press) - The son of a wealthy Malaysian businessman accused of running an illegal sports betting ring together during the World Cup has pleaded guilty to a lesser charge in order to return home.
Hillary Clinton US Presidential Odds Impacted by Email Scandal
Lots of changes in the Next US President market with the news of Hillary Clinton’s email scandal surfacing and at Sportsbook.ag, her odds to become the next President in 2016 have just gotten longer.
Nevada Gaming Enforcement Division Confirms Bitcoin Poker Room Seals With Clubs Raid
While Karl Bennison, chief of the Nevada Gaming Enforcement division, confirmed that the board “took part in law enforcement action” related to Seals with Clubs on Feb. 11, it was not immediately clear as to whether that investigation directly tied to the anonymous digital currency Bitcoin or if it involved Seals With Clubs operating from within Nevada.
Paddy Power Reports Record Profits
Ireland’s biggest bookmaker, Paddy Power, has reported some of its biggest profits ever.
Shares in the company continued to surge on news that Paddy claimed €167 million in profits before tax and that it plans to return up to €392 million to shareholders.
The company’s net revenue increased 18% to €882 million with pre-tax profits growing 21% to €167 million. These impressive figures were helped by the number of bets placed at Paddy Power increasing by 16%. Online gambling makes up 77% of its overall business.
Betfair Better Than Expected 3rd Quarter
LONDON, March 5 (Reuters) - Online gambling company Betfair hiked its full-year profit forecast range on Thursday after trading remained strong following a better-than-expected third-quarter, sending its shares sharply higher.
The company, which runs an exchange that allows gamblers to bet against each other, said revenue jumped 20 percent in the three months to Jan. 31, as investment in products and marketing helped increase active customer numbers by half in its core markets, with sports and gaming income up strongly.
Congressman Hit by Sheldon Adelson Wife’s Purse Supports His Gambling Bill
Casino magnate and GOP mega donor Sheldon Adelson has a new ally to support his online gambling prohibition. And that man just happens to be the same Congressman whacked by Adelson’s wife’s purse on Tuesday.
It’s none other than Rep. Brad Ashford (D-Neb), only a small handful of individuals supporting the legislation.
Netanyahu 81 Percent Odds of Being Re-Elected Israel Prime Minister
Online prediction website PredictIt.org has given Benjamin Netanyahu an 81% chance of being re-elected Prime Minister of Israel.
The site sets its odds based on public volume coming in on either side of a particular bet offer.
Head's Up: Doyle Brunson Survives Surgery
Iron clad poker legend Doyle Brunson underwent successful surgery over the weekend to have cancer removed from his head.
He tweeted Monday:
Italian Police Arrest Mobster Hiding Inside Sofa
An Italian Mafia boss on the run since April 2013 was arrested Wednesday after engaging in a chase with officers. The mobster was found hiding inside a sofa.
63-year-old Vincenzo Pariante was convicted in absentia and sentenced to life imprisonment for commissioning the 2004 murder of two other mobsters from a rival clan.
Macau’s Gambling Woes are a Win for Wynn
Despite the highly publicized corruption crackdown that has left the gambling hub of Macau nearly in tatters, one casino group operating there will benefit to the tune of $511 million.
That is the amount the Chinese subsidiary of Wynn Resorts Ltd. plans to issue in the form of a special stock dividend this month, according to Howard Stutz of the Las Vegas Review Journal.
More Time Permitted for Revel Casino to Seek Higher Bids
CAMDEN, New Jersey — (Associated Press) - A bankruptcy court judge says more time is needed to seek higher bids for Atlantic City's former Revel Casino Hotel.
Judge Gloria Burns delayed a decision Wednesday on the proposed $82 million sale of the shuttered gambling hall to Florida developer Glenn Straub. She did so after Los Angeles developer Izek Shomof expressed interest in buying Revel, but for $2 million less.
The $2.4 billion casino closed in September after just over two years of operation, during which it never turned a profit.
Brisk Early Betting Reported in Vegas on Pacquiao-Mayweather Fight
LAS VEGAS – (Associated Press) - Manny Pacquiao has always believed he can do what 47 other fighters before him have failed to do -- beat Floyd Mayweather Jr. in the ring.
Turns out a lot of other people are believers too. And they are backing their opinions with money.
