Ron Paul Gambles on Nevada: Will Skip Florida

Written by:
Aaron Goldstein
Published on:
Ron Paul Gambles on Nevada:  Will Skip Florida

GOP candidate Texas Congressman Ron Paul will bypass Florida and focus in on the next state to hold a caucus, Nevada.  Last time Paul ran for President of the US in 2008, he finished a distant second in the state of Nevada.  It was one of his best showings during the 2008 campaign.  The Congressman has so far come in a very close third in Iowa and second in New Hampshire. 

From Time.com:

His campaign manager, Jesse Benton, says they don’t have the estimated $9 million they would need to vie for sprawling, expensive Florida. “We’re not gonna compete in a state where we can’t fully compete,” Benton says.

The Florida contest on Jan. 31 is winner-take-all, so only one candidate will get the costly spoils. Nevada, like the rest of the states holding their contests in February and March, will award delegates proportionately; that means Paul could pay much less and get much more for a strong second on Feb. 4. According to data obtained by TIME, Paul has spent more money on Nevada media buys this election cycle than any other Republican hopeful—though that amount is still under $300,000.

Paul has long been a staunch advocate of one’s right to gamble online in the United States and has sat down to discuss this issue with Gambling911.com on multiple occasions. 

More Gambling Headlines for Friday, January 13, 2012 (Afternoon Edition)

Ladbrokes May Slash 600 Jobs Due to Recession  - Joe Lewins, chief executive of Ladbrokes Ireland, told the Irish Times on Friday that around 150 bookie shops are at risk of losing as much as 600 jobs due to the current financial crisis.
Mr Lewins said his chain closed four of its shops last month as they were losing money and added that he hoped the business would not have to axe any further outlets.  There are 1,102 bookie shops in the Republic. These businesses have seen revenue fall over the last three to four years as punters reduced their bets. [Irish Times]

Morgan Stanley Maintains Overweight Position on International Game Tech - Morgan Stanley reiterates its Overweight rating on International Game Tech (NYSE:  IGT) as company assumes position in social gaming through acquisition.

Morgan Stanley notes, "IGT announced that it has agreed to purchase Double Down Interactive (“DDI”), an online social gaming company with 4.7 mn monthly active users (+40% since Oct. 2011), for $500 mn in cash ($250 mn upfront). DDI currently offers play-for-free online casino games (no poker) via social media, collecting ~70% of user bookings. ...We believe acquisition of an online social gaming company positions it well for the potential legalization of online gambling in the US."

IGT closed at $17.78 per share on Thursday.

Abramoff Has His Doubts Federal Internet Poker Legislation Will Pass – Disgraced former Washington lobbyist Jack Abramoff’s opinion as to whether federal legislation will pass as it relates to legalized online poker:  “Moving legislation through the House and Senate is going to be very difficult,” he said in an interview with Rueters News Agency Thursday. “It’s going to be extremely expensive for [online gaming proponents], and frankly the odds are against them.” [Gambling911.com]

- Aaron Goldstein, Gambling911.com

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