Foxwoods Cuts Back on Gambling

HARTFORD, Conn. - (Associated Press) - Foxwoods, the largest casino resort in North America, is reducing its number of slot machines and table games to free up space for nightclubs and other new attractions as it adapts to fierce competition, the new CEO said in an interview with The Associated Press.

Huckabee Gearing Up for US Presidential Run: Does Adelson’s ‘Dirty Work’

Fox News television host and 2008 US Republican Presidential candidate Mike Huckabee is reportedly preparing to run again in 2016.

Third Time a Charm for Gutfreund on HPT

Mt. Pleasant, MI - David Gutfreund came oh-so-close to a Heartland Poker Tour championship twice before, but the cards didn't fall in his favor on either trip to HPT's TV table. The third time proved to be a charm at HPT's most prestigious event of the year, the annual Championship Open at Soaring Eagle Casino & Resort. The Chicago man finally came out on top of a tough field that included most of the season's champs, picking up $156,649 for the win.

Six Men Charged With Plotting to Beat Up Man to Collect $40K Gambling Debt

Six men have been charged with plotting to beat up a Chicago area restaurant worker in an effort to collect $40,000 gambling debt.

Prosecutors claim that five of the six individuals have been charged with assault.

They knocked him to the ground and punched and kicked him, prosecutors charged in an indictment returned last week.

Last Minute Reprieve for Taj Mahal as Icahn Ready to Make Union Concessions

Carl Icahn, the Taj Mahal’s largest debtholder, has decided to make some concessions to unions after all.

Caesars Receives Notice of Default From UMB Bank

Caesars Entertainment Corp. said on Monday that its main operating unit received a notice of default from UMB Bank last week at a time when the gambling firm is seeking creditor approval for a potential real estate investment trust plan.  Caesars called the UMB claims “meritless”.

Gambling Nuke Commander Denies Bombshell Fake Poker Chip Allegations

A high-ranking admiral who once watched over the U.S. nuclear supply has denied any wrongdoing in a Navy investigation into counterfeit chips.

DraftKings Outage Could Not Have Come at Worst Possible Time: Refunds Promised

One of the world’s largest daily fantasy sports sites, Draftkings.com, experienced a disastrous power outage on Sunday during Week 12 of the NFL.  The company is expected to lose hundreds of thousands of dollars as a result.  Worse still, Draftkings.com advertised throughout Sunday’s NFL games.

The issues were deemed as “Connectivity Issues” apparently starting just minutes before the early afternoon games.

Fanduel Joins Forces With Lakers, Draftkings the Broncos and PlayMLF Golden State

It’s been an active week for the fantasy sites teaming up with professional sports teams.  We’ve seen FanDuel.com cut a deal with the LA Lakers, Draftkings join forces with the Broncos and PlayMLF.com partnering up with the Golden State Warriors. 

Dallas Bookies: Fort Worth Loving Their TCU Horned Frogs

Dallas bookies and those residing in the Fort Worth area must be smiling these days.  Their Cowboys, Mavs and Horned Frogs are winning as we head into the winter period of 2014-2015.  This is great for local bookies and Pay Per Head businesses alike.

DailyMVP.com Hits the Daily Fantasy Sports Market Minus the Salary Cap

The latest installment in the fast growing daily fantasy sector is DailyMVP.com, a site that looks to distinguish itself from the rest of the pack by offering fantasy sports without the salary cap platform found at other sites.

Judge Rules on New Jersey Sports Betting and the Verdict is…..Leagues Win

U.S. District Court Michael Shipp ruled on whether New Jersey’s biggest racetrack, Monmouth Park, may begin taking bets on sports and they will not be able to, at least not for the foreseeable future.

That ruling came out shortly before 9 pm EST.

Rhode Island Ex-Attorney General in Hot Water Over Gambling Lobbying

A former Rhode Island Attorney General is being investigated to determine if he violated state lobbying rules by making appeals to his former colleagues on behalf of a Nevada gambling casino.  Patrick C. Lynch, a Democrat, served from 2003 to 2010.

Wynn Resorts Probe for Possible Money Laundering Tied to Sports Betting

CNBC is reporting that Wynn Resorts is under investigation for possible money laundering, specifically sports betting by high rollers and whether VIPs laundered drug money through the company’s casino.

The Cage PLO Edition Makes Anticipated Debut on November 26

The Cage - Texas Hold'em tourneys have taken the poker industry by storm and now an equally exciting version is debuting soon. The Cage - Pot Limit Omaha (PLO) is happening on Wednesday, November 26th at 8:00pm ET. Players can buy in directly for $5,000+100 or earn their seat through one of the many satellites running now, with a cost as low as $1.65.  You can participate by either joining Americas Cardroom here or simply logging on with your existing account.

PokerStars Launches Online Sports Betting Site

ONCHAN, Isle of Man - PokerStars, the world’s largest poker brand, announced today that it will launch sports betting and casino table games globally on PokerStars.  Claim Your FREE $250 Here (use bonus code G911).

WSOP Main Event Runner Up Felix Stephensen Faces $2.5 Mil Tax Bill

The Norwegian government is expected to come after 2014 World Series of Poker Main Event runner up Felix Stephensen for 50% of his WSOP winnings or $2.5 million. 

Sheldon Adelson Losing His Iron Grip: Sands One Step Closer to Unionizing

Casino magnate Sheldon Adelson is having a bad week.

First his heavily pushed online gambling prohibition bill, Restore America’s Wire Act (RAWA), was ruled dead on arrival in Congress.

Now we learn that Adleson’s Sands Casino in Bethlehem is one step closer to unionizing.

For years, Adelson has worked hard to keep the unions out of his casino establishments and, for the first time in 25 years, it appears as if he is about to lose that battle to a bunch of security guards making a mere $12 an hour.

Judge Will Decide on New Jersey Sports Betting Friday

(Associated Press) - New Jersey could drop its ban on betting on sports entirely, but it cannot legally set conditions as it ends the prohibition, a lawyer for the NCAA and four major sports leagues told a federal judge Thursday.

The lawyer, Jeffrey Mishkin, said the state isn't dropping its sports betting ban, because it requires that it takes place only at casinos and horse racing tracks and that bettors be at least 21 years old.

Adelson-Backed Online Gambling Bill Won’t be Presented During Lame Duck Session

A bill to prohibit most forms of online gambling, backed heavily by GOP mega donor and casino billionaire Sheldon Adelson, will not be heard during the upcoming month’s lame duck session in Congress.

The legislation, known as Restore America’s Wire Act, had gained support from only a handful of Congressional members, mostly Republicans. Adelson spent millions to push for the bill.

Revel Casino Purchase Terminated

The company that won a bankruptcy auction to buy the now closed Revel Resort in Atlantic City has terminated the deal, according to NBC10 in Philadelphia.

Toronto-based Brookfield US Holdings, LLC spokesperson Andrew Willis said on Wednesday that the $110 million purchase is no longer moving forward.

Sources close to the situation tell NBC10's Ted Greenberg that the deal fell apart after ACR bondholders and South Jersey Industries refused to alter Revel's utility bill payment structure. 

From NBC10:

Rhode Island Mobster Sentenced for Running Sports Betting Ring

A high-ranking member of the New England mob was sentenced to a 10-year suspended sentence and 10 years probation before a Superior Court judge on Wednesday after pleading no contest to a charge of conspiracy to commit a felony and racketeering. 

Edward C. Lato, 67, is currently serving a nine-year prison sentence in connection to a l $1.5 million extortion ring involving the shakedown of Rhode Island strip club owners.

Judge Could Have Ruling in New Jersey Sports Betting Case Within 24 Hours

U.S. District Court Judge Michael Shipp was to hear oral arguments regarding New Jersey’s bid to allow sports betting at its racetracks and Atlantic City casinos.  A 22-year-old law bans sports betting in all but four states including Nevada.

The four professional sports leagues and NCAA filed a suit against the state to prevent this type of gambling.

Attorneys for New Jersey’s biggest racetrack, Monmouth Park, were not optimistic ahead of Shipp’s ruling.

California Tribe Begins Offering Online Gambling in New Jersey

ATLANTIC CITY  — (Associated Press) - California's Pala Indians became the first tribe to offer Internet gambling in New Jersey on Wednesday.

The Pala Band of Mission Indians began a test of their PalaCasino.com site. The tribe's online gambling arm, Pala Interactive, is partnered with Atlantic City's Borgata.

The company expects a full launch of the site on Monday, once it gets approval from the state Division of Gaming Enforcement. It will include more than 90 games and a daily free spin on a slot game.

Amaya, PokerStars Parent, Posts Record Profit for 3rd Quarter

MONTREAL – (Canadian Press) - Amaya Gaming Group Inc. posted record results in the third quarter as its revenues and adjusted profit surged following the August acquisition of PokerStars and other online games.

The Montreal-based company (TSX:AYA) beat expectations as its adjusted profit increased 10-fold to nearly $70 million, or 43 cents per share for the period ended Sept. 30. That compared to $6.8 million or seven cents per share a year earlier.

Dan Colman Sorry for Hellmuth Rant: Will Quit Poker in 2015

Big One Drop winner Dan Colman now says he was “too harsh” after essentially calling record WSOP bracelet winner Phil Hellmuth a “cancer” to the game.

Macau Still Hurting in November

Macau gambling revenues appear to be stagnant in the month of November so far following a poor performance in October.

Paddy Power Raises Full Year Guidance on Better Second Half

(Reuters) - Paddy Power Plc said it expects mid- to high-teens percentage earnings per share (EPS) growth this year, up a touch on its prior forecast as sports results rebounded as expected in the second half of the year.

The Irish gambling company saw operating profit fall sharply in the first half on what it described as a "horrific run of sports results" but said that things had already improved by August and that it expected mid-teen percentage EPS growth.

No Hearing in House Subcommittee for Online Gambling Ban

Poker Players Alliance (PPA) head John Pappas confirmed late Monday that an anticipated House subcommittee hearing to discuss a ban on Web gambling has been pulled from the agenda.

The Restoration of America’s Wire Act (RAWA) is a piece of legislation heavily backed by GOP megadonor and casino magnate Sheldon Adelson.  The measure has support on both sides of the aisle, though that support is believed to be miniscule. 

Pappas tweeted:

Vice: Online Gambling has Made Many in Gibraltar Very Rich

Vice Media has just got through visiting the British overseas territory of Gibraltar, surprisingly now the fastest growing economy in all of Europe with an unemployment rate around 6 percent.  Much of this can be attributed to the online gambling sector.