Gambling
John Daly Had Fun Losing $55 Million Gambling
Appearing on “Depth With Graham Bensinger” this week, American professional golfer John Daly admitted he blew around $55 million gambling after a review of his tax records between the years 1991 and 2007.
Man Serving Time for Property Fraud Indicted for Running Sportsbook
A Minnesota man currently serving a four year prison sentence for property fraud has been charged with running an online sportsbook with servers based in Costa Rica.
Massachusetts to Award First Casino License, Nevada Casino Revenue Flat in April
BOSTON (Associated Press) -- State gambling regulators say they'll begin the final, four-day long deliberation on awarding Massachusetts' first Las Vegas-style casino license on June 10.
The Massachusetts Gaming Commission said Thursday that the June 10 and 11 meetings will be in Springfield, the June 12 meeting in Boston and a June 13 meeting - when it is expected to issue a decision - will be in Springfield.
Churchill Downs, Showboat Hotel Online Gambling Lawsuit Moved to NJ Court
As if things couldn’t get any worse in the Garden State for its new online gambling industry, Churchill Downs and Atlantic City’s famed Showboat Hotel and Casino are embroiled in a lawsuit over a vendor agreement.
Churchill Downs had entered into a deal to purchase the Showboat Hotel.
NLR Entertainment owner Nicholas Ribis was paid $2.5 million as “earnest money" by Churchill Downs to be the exclusive vendor of NLR for the period 2014 until 2021.
Philadelphia Mobster Heading to Prison for Role in Illegal Gambling Business
PHILADELPHIA — (Associated Press) - A man who authorities say worked for the Philadelphia mob is heading to prison for his role in an illicit video poker operation.
Forty-three-year-old Eric Esposito is described by federal prosecutors as a foot soldier of La Cosa Nostra. A judge sentenced him Wednesday to 27 months behind bars.
Waddell & Reed Buys 16.96 Million Las Vegas Sands Shares
HONG KONG (Reuters) - U.S. fund manager Waddell & Reed Financial Inc said Wednesday it raised $1.38 billion by selling its remaining stake in Macau-based Sands China Ltd, and shifted most of its holdings to parent Las Vegas Sands to boost its global gaming exposure.
The sell-down comes as Macau gaming stocks face pressure due to a raft of negative news, after clocking a scorching pace of growth over the past two years.
Supreme Court Says Mich. Can't Block Indian Casino
(Associated Press) - A divided Supreme Court ruled Tuesday that Michigan can't block the opening of an off-reservation American Indian casino because the state's legal challenge is barred by tribal sovereign immunity.
In a 5-4 decision, the high court said the state could not shutter the Bay Mills Indian Community's casino about 90 miles south of its Upper Peninsula reservation.
Bitcoin-Only Casino Generates Over $1.4 Mil in Turnover in its First 3 Months
BitCasino.io, the first ever licensed bitcoin-only casino has grown to a player base of 7,000 users betting over 3,000 BTC (~$1,400,000) since February 2014. The success of the casino has been built around its world-class software that includes Live Dealers, Live Dice/Lottery and over 150 HD video slots as well as traditional table games.
Amaya Gaming Looks to Calm PokerStars Acquisition Rumors
Amaya Gaming’s share price rose 5% on rumors that it was in pursuit of a possible acquisition. The main target appears to be the world’s largest online poker room, PokerStars. Such a move would allow Stars to re-enter the US market on a clean slate.
The company was forced to issue a response Monday afternoon.
Slump in Online Gambling Adds to Christie’s Budget Woes
Bloomberg News on Monday evening reported what was already widely known throughout the gambling sector, that New Jersey has failed to meet its early expectations when it comes to their newly rolled out Internet gambling sector. Even some operators are stepping forward to say it’s been a complete disaster up to this point.
Brian Mattingley, chief executive officer of London- based 888, said in a telephone interview with Bloomberg News this weekend, “We are absolutely shocked by the slowness of the (New Jersey online gambling) market.”
Hard Rock Casino Ban of Ben Affleck Could Prove to be Big Mistake
Professional gambler and Pittsburgh Gazette columnist Mark Gruetze believes that the Las Vegas Hard Rock Casino’s recent decision to ban Hollywood actor Ben Affleck from playing blackjack in their establishment could backfire.
Gulfstream Park's Rainbow Pick Six Pays Out $6.7 Million
HALLANDALE BEACH, Fla. (Associated Press) — Gulfstream Park got its Rainbow 6 record, a day early.
The track says only one player correctly picked all six winners needed to cash the bet on Sunday, a day before Gulfstream officials were expecting to pay out what would have been a massive wagering pool on the exotic ticket.
The winning payout Sunday was $6,678,939.12.
888.com CEO on Internet Gambling in NJ: ‘We Are Absolutely Shocked by Slowness'
Brian Mattingley, chief executive officer of London- based 888, said in a telephone interview with Bloomberg News this weekend, “We are absolutely shocked by the slowness of the (New Jersey online gambling) market.”
And he’s not the only one.
New Jersey casinos are in the process of shifting their marketing focus from poker to the online casino, which traditionally has been the cash cow for internationally based Web betting firms.
Racketeering Law Does Not Cover Online Gambling Losses in Arizona
PHOENIX (Associated Press) — A state court decision says people who voluntarily engage in online gambling can't use Arizona's anti-racketeering law to sue websites' operators to recover gambling losses.
The state Court of Appeals decision issued Thursday upholds a Maricopa County Superior Court judge's ruling against a man who had sued several operators of gambling websites after he lost $800,000.
The man's lawsuit alleged that the websites were an enterprise engaged in civil racketeering.
American Gaming Association Drops Support for Online Gambling in US
American Gaming Association chief executive Geoff Freeman said in an interview with the Wall Street Journal Wednesday that his Las Vegas-based organization will no longer support legalization of online gambling in the US, citing a nasty split between casino operators on both sides of the issue.
"One of the things I've learned in this industry is we are extraordinarily competent at shooting at one another," he said. "The snipers in this industry are of the highest quality, and if you let that be the focus, we'll kill each other."
Sheldon Adelson Insists He is Not Retiring: Right Hand to Step Down
80-year-old Las Vegas Sands Corp CEO Sheldon Adelson has dispelled rumors that he will be retiring any time soon following in the steps of 76-year-old President and COO Michael A. Leven, who announced his retirement this week.
Online Bet Startup Costs Shrink AC Casino Earnings
ATLANTIC CITY, N.J. (Associated Press) - Startup costs associated with Internet gambling, and the closure of one casino in January lowered Atlantic City's casino earnings by 8.4 percent in the first quarter of this year compared to the same period in 2013.
Figures released Thursday by the state Division of Gaming Enforcement showed the casinos had a gross operating profit of $38.7 million.
Las Vegas Casino Strike Planned to Begin June 1
LAS VEGAS (Associated Press) - Hotel workers and bartenders plan to strike at nine downtown Las Vegas casinos next month if contracts aren't reached, labor leaders announced Wednesday.
Officials with the Culinary and Bartenders unions said employees are prepared to walk off the job at 5 a.m. June 1 at The D, Four Queens, Fremont, Main Street Station, El Cortez, Binion's, Golden Gate, The Plaza, and Las Vegas Club.
Breaking News: Jason Ader, Spring Owl Group Wins Settlement Deal With Bwin.Party
Gambling911.com – May 22, 2014 at 6:49 am EDT - Agreement with SpringOwl: Further to the Company’s announcement on 16 May 2014, concerning planned changes to the composition of the Board, bwin.party announces that it has agreed to work closely with SpringOwl on the appointment of its new directors and confirms its agreement to consider Michael Fertik, one of SpringOwl’s nominees, as a potential candidate.
Internet Gambling Attorney Sees Legal Online Gambling Coming to All 50 States
Stuart Slotnick Says It’s a “Good Revenue Model”
Did Floyd Mayweather Jr. Bet $5 Million on the Spurs Wednesday Night?
Vegas Gambling Steam is reporting that boxer Floyd Mayweather, Jr. laid down $5 million on the San Antonio Spurs to cover the spread in their Game 2 NBA Playoffs game against the Oklahoma City Thunder.
NJ Sports Betting Suit has Far Reaching Implications: Other States Offer Support
Last week, the U.S. Department of Justice (“DOJ”) and the four major professional sports leagues, as well as the National Collegiate Athletic Association (“leagues”), filed their long awaited response to New Jersey’s petition to the U.S. Supreme Court to hear their appeal regarding the state’s sports betting law. This decision has far reaching implications for the future of sports betting in the United States.
Man Driving to Collect Gambling Debt Goes Missing: No Show at Daughter’s Wedding
Police in Texas are investigating the disappearance of William P. Abel, 39, who was reported missing after he failed to show up for his daughter’s wedding the next day. Abel was to walk his daughter down the aisle.
National Governors Association Sends Letter in Opposition to Web Gambling Ban
The National Governors Association on Tuesday submitted a letter in opposition to a bill that would outlaw online gambling on the federal level (a copy of which appears below).
The letter was sent to both majority leaders in the House and Senate along with the minority leaders.
The bill to ban nearly all forms of Internet gambling except fantasy sports and horse racing was introduced by South Carolina Senator Lindsey Graham (R-SC) and Republican Rep. Jason Chaffetz of Utah. A handful of politicians from both sides of the aisle have come out in support of the measure.
Hard Rock Mulls Over Possible Purchase of Atlantic City Revel Hotel
(Associated Press) - The president of the Seminole Indians' Hard Rock franchise says the company would consider buying Atlantic City's Revel Casino if the price were right.
Revel, Atlantic City's newest casino, is seeking a buyer or a partner for a joint venture.
Florida-based Hard Rock has been a long-rumored suitor for Revel and made preliminary inquiries earlier this year to New Jersey casino regulators about what license it would need if it pursued Revel.
NJ Bill Would Require Online Gambling Processors to Get 'Stricter' License
ATLANTIC CITY, New Jersey — (Associated Press) - New Jersey wants to subject companies that handle Internet gambling deposits and payments to stricter licensing requirements, in the hope it will make banks more willing to allow the use of credit cards to fund online betting accounts.
The reluctance of banks to allow credit card use to fund accounts is one of the main things holding back the growth of New Jersey's new Internet gambling industry.
Lesniak to Introduce Sports Betting Bill in NJ Despite Court Losses
State Sen. Ray Lesniak (D-Union) announced plans to unveil new legislation that would permit legalized sports betting at the state’s racetracks and casinos, threatening to call the bluff of the federal government regarding sports wagering.
Bwin.Party Executives Acquitted in French Court
Bwin.party chief executive Norbert Teufelberger and the former co-CEO of bwin Manfred Bodner were acquitted in a French court on charges of violating Internet gambling laws in that country.
New Jersey Attorney General Denies Access to Online Gambling Affiliates
Online gambling affiliates, some of whom had already obtained their vendor licenses in the state of New Jersey, were dealt a serious blow by that state’s Attorney General last week. But it is actually the casinos themselves that will feel the most pain.
New Jersey Assistant Attorney General George N. Rover informed those affiliates of state licensed online casinos that they would be restricted from directly targeting NJ residents or visitors unless they removed all links and banners from offshore gambling sites still conducting business in the state.
Illinois Legislators Push for Gambling Expansion Once Again
(Associated Press) - SPRINGFIELD, Ill. | An Illinois lawmaker says the clock is ticking on a gambling expansion measure that could boost revenue for the state.
Democratic Rep. Bob Rita, of Blue Island, sent a letter to House Speaker Michael Madigan and Republican leader Jim Durkin on Monday hoping to gain support for his plan. The proposal has two options. One adds five casinos and slots at horse tracks. The other calls for a mega-casino in Chicago.
