Gambling News
SBOBet.com Center of Paul Phua World Cup Betting Probe: Not Guilty Pleas Entered
Poker pro Paul Phua and his son Darren appeared in a federal court on Tuesday to answer to charges they ran an illegal gambling business out of the $25k a night Caesars Palace villas via the popular Asian handicapping betting site SBOBet.com. Phua and six others are set to be arraigned on August 7. The father-son-tandem may be deported back to their native Malaysia. Both men pleaded not guilty on Tuesday.
Michigan Man Turns $360 into $137k on HPT
Mt. Pleasant, MI - After getting a taste of the spotlight during Heartland Poker Tour's November visit to Soaring Eagle Casino & Resort, John Drikakis returned over the weekend to improve on his sixth-place finish. The shipping and receiving clerk from Battle Creek, Michigan shipped the win after investing just $360 in the tournament. For the victory, Drikakis received $137,014.
MGM Shares Gaining Tuesday Following Big Earnings Win News
MGM shares rose as much as 2.5% on news that the gambling resort raked in more cash in Vegas thanks to higher occupancy rates, loftier room prices and a stronger percentage of gambling wins.
The company enjoyed a per-share profit of 21 cents during the second quarter of this year following a lagging start.
MGM also owns the Mirage, Luxor and Mandalay Bay. Occupancy rates in those establishments were up 96% the last quarter, while average room rates rose to $141 from $134.
Congressman Chaka Fattah Son Indicted for Bank Fraud, Used Funds for Gambling
PHILADELPHIA (Associated Press) — The son of Philadelphia congressman Chaka Fattah has been indicted and charged with bank fraud, tax evasion and misspending federal education funds.
The federal indictment unsealed Tuesday accuses Chaka Fattah Jr. of lying about his income to obtain more than $200,000 in business loans he then spent on personal expenses, gambling debts and legal fees.
He is also charged with inflating expenses related to federal funds he received for a charter school program for at-risk students.
Macau Casino Workers Want Bigger Piece of the Pie
(Reuters) - Disgruntled casino workers are becoming a costly thorn in Macau's side.
As the Chinese territory races to build eight new resorts in the next three years, labour strains look set to intensify: workers are demanding higher pay and threatening strikes at a time when operators face a labour shortage.
Las Vegas kingpins Sheldon Adelson at Las Vegas Sands Corp and Steve Wynn at Wynn Resorts Ltd together reported unexpected costs of $50 million last quarter for labour-related compensation at their Macau casinos.
New Jersey Residents May Not Want Casinos Outside of Atlantic City
TEANECK, N.J. (Associated Press) - A new poll found that half of New Jersey residents oppose opening casinos outside Atlantic City.
The idea is being promoted by some lawmakers as a way to raise money that would go to Atlantic City, where casinos are struggling.
Fairleigh Dickinson University's PublicMind poll released Monday found that 50 percent of New Jersey adults oppose the idea of opening gambling halls outside Atlantic City, while 42 percent favor the idea.
Forex Trading Alerts: Events to Watch for This Week
For those trading in Forex, Kathy Lien, Managing Director of FX Strategy for BK Asset Management, has highlighted five potentially critical events to watch for in the coming days.
Convicted Mobster Hobbles With Cane but Caught on Video in Physical Altercation
Mobster Richard Riccardi has complained of excruciating pain from a hip tumor, requiring the use of a cane. But in an exclusive report from the New York Daily News, the convicted murderer and Mob goon's "unceasing pain" did little to prevent him from getting into two different altercations, both occurring while behind bars while awaiting sentencing.
Canadian Police Refuse to Identify Paddy Power Hacker: 649,000 Accounts Breached
Ontario authorities this week stated they will not be releasing the name of an individual said to have hacked some 649,000 customer accounts at Paddy Power, the UK’s third largest bookmaker.
BetOnline, Tiger Gaming Awarding Packages for 2014 Battle of Malta Guaranteed €500,000
BetOnline.ag and Tiger Gaming have announced they are awarding players packages for the Battle of Malta Guaranteed €500,000 Main Event.
Betfair’s £80m Payout Error: Who Benefitted?
The world’s largest betting exchange, Betfair, has admitted to making a £80m payout mistake during the years 2011-2013. Punters saw none of it, however.
The company admitted on Sunday that they had paid out investors in this amount in violation of accounting rules.
Betfair essentially paid out more in dividends and share buybacks than it was legally permitted to.
Bally Technologies One of the Darlings of the NYSE Friday: Share Price Skyrockets
Bally Technologies Inc. was up $17.53 to $77.70 Friday and was one of the biggest movers on the New York Stock Exchange.
The gambling equipment maker is being bought by rival Scientific Games Corp. in a deal worth $5.1 billion, including debt.
Bally shareholders will get $83.30 a share, representing a 38% premium to the stock's closing price on Thursday.
Based in Las Vegas, Bally Technologies makes slot machines, video lottery systems, table games and other products.
Amaya Gaming Completes Acquisition of PokerStars
MONTREAL - Amaya Gaming Group Inc. (TSX: AYA) ("Amaya" or the "Corporation") announced today the completion of its previously announced acquisition of 100% of the issued and outstanding shares of privately held Oldford Group Limited ("Oldford Group"), the parent company of Isle of Man-headquartered Rational Group Ltd.
Borgata Posts Quarterly Loss for Online Poker in New Jersey
The Borgata Hotel and Casino in Atlantic City, partnered with bwin.party, has posted a quarterly operating loss of $1.8 million for the period of June 30.
It did, however, reach a “key milestone” by breaking even during the month of July.
The Borgata and bwin.party were widely seen as having gotten off to the strongest start in the newly opened New Jersey online gambling market through aggressive ad campaigns. Ongoing payment processing issues, particularly with a high credit card decline rate, have stymied growth since that time.
How to Choose the Best Binary Options Platforms for Betting
Zvezda Geek on Friday featured a series of useful tips for those looking at choosing the best binary options platforms online to support all your binary betting needs.
Ireland Government Blasts Paddy Power Failure to Expose Breach
Government officials in Ireland have slammed that country’s largest bookmaker for failing to alert the public regarding a massive data breach that occurred in October 2010. News of the breach only became known on Thursday (July 31, 2014), nearly four years later.
Amicus Brief Filed By Bitcoin Foundation in Miami Criminal Case
The Bitcoin Foundation announced Thursday afternoon that they have filed an amicus brief with respect to a criminal case surrounding bitcoin transactions in the state of Florida and more specifically a case involving two subjects arrested last February in Miami Beach.
‘Do Nothing Congress’ Wants to Try to Do Something: Ban Online Gambling Via Holder
A handful of US Senators wrote a letter to Attorney General Eric Holder asking for his support of their bill to reinstate a federal ban on Internet gambling.
Christie Signs Law for Gamblers to Ban Themselves: Like Getting a Vasectomy
On Thursday, New Jersey Governor Chris Christie signed into law a measure that permits residents to ban themselves from playing at any of the state’s casinos or licensed online gambling websites.
Paddy Power Suffers Massive Data Breach: More Than 649,000 Customers Compromised
More than 649,000 customers of the UK’s third largest bookmaker, Paddy Power, have had their personal information stolen, it was revealed on Thursday. Of those, approximately 120,000 are based in Ireland.
No customers who signed up after 2010 are impacted by the breach.
Five Arrested for Brazen Atlantic City Casino Robbery: Former Guard Among Them
ATLANTIC CITY, N.J. (Associated Press) — Authorities say a former security officer and four other people stole more than $180,000 from security workers during an armed robbery at an Atlantic City casino earlier this month.
WSOP Agonizing Defeat Caught on ESPN
ESPN has begun airing segments of the 2014 World Series of Poker, which concluded earlier in the month with the determination of the Final Nine to be held in November.
One of the more agonizing defeats was filmed featuring Connor Drinan, who was eliminated in the $1 million buy-in tournament Big One for One Drop.
‘Hoffa’ Producer Joe Isgro Linked to Mob-Run Gambling Ring: Pleads Not Guilty
(Associated Press) - He's been one of the nation's most influential record promoters, the producer of an Oscar-nominated movie, a defendant who successfully fought racketeering charges in a high-profile payola case, and an admitted loan shark who shook down borrowers in ritzy Beverly Hills.
Now the roller-coaster life of Joe Isgro is taking another plunge, with new charges that he helped run a mob-linked gambling operation.
Rock N Pole World Championship Brings Betting to New Low With Sex Fueled Contest
The Viper Room in Hollywood, California was the setting for Sam Tripoli’s shock Rock N Pole World Championship last night (July 29) and some oddsmakers were brazen enough to permit betting on the event.
The contest, which began at 8:30 pm Pacific, featured a tag-team karaoke and pole dancing competition that was hosted by comedian Sam Tripoli.
New Record Set for Biggest Poker Event Held Outside America
Record-breaking Beijing Millions Main Event features 2,732-entrant field to become the biggest live poker tournament ever held outside of USA
BEIJING, CHINA – The inaugural PokerStars.net sponsored 2014 Beijing Millions concluded this past Sunday set a new record for the biggest live poker tournament outside the USA. The event was won by China's Chen Qin (秦辰).
Latin Poker Series Launches New Website With Player of Year Reward
San Jose, Costa Rica - The Latin Poker Series today announced the launch of its brand new website, along with more reasons to play in LPS events in 2014. Coupled with a revamped online portal, the Latin American tournament circuit organization has unveiled two new LPS leaderboards to keep track of player performance, including one that awards an LPS Tour Pass to the top point earner.
Sentencing of Greenville Man Highlights South Carolina Zero Tolerance of Bookies, Gambling
The conviction and subsequent sentencing of a Greenville, South Carolina man this week charged with illegal gambling highlights that state’s policy towards eradicating the activity whether it be in the form of bookmaking, poker or video gaming machines.
Poker Pro Paul Phua Ambassadorship to Montenegro Revoked After Arrest
A poker pro arrested for operating a World Cup betting ring out of a Las Vegas resort was San Marino’s ambassador to the city state of Montenegro for three years before having that status revoked due to the allegations lodged against him.
Pinnacle Sports Alleged Owner Stanley Tomchin Pleads Guilty to Minor Charge
This morning the 29th of July 2014, the criminal prosecution of Stanley Tomchin – featuring an indictment charging Mr. Tomchin with 56 separate felonies – ended quietly with an agreed upon plea to a minor offense with a sentence involving no incarceration or even probation supervision.
John McCain Introduces Legislation to Block Arizona Casino Project
PHOENIX (Associated Press) -- Arizona's two U.S. senators are proposing legislation to block construction of a Phoenix-area casino planned by a southern Arizona tribe.
If enacted, the bill introduced Monday by Republicans John McCain and Jeff Flake would block the casino resort project planned by the Tohono O'odham Nation for a site on unincorporated land adjacent to Glendale.
The senators said in an announcement that their bill is a companion measure to House legislation approved by that chamber and sponsored by Arizona Republican Rep. Trent Franks.
