Business & Financial
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.
New York Post: Meet the Man Who Makes Six Figures Off Fantasy Sports
“It was the craziest thing,” 24-year-old Brooklynite Mark Guindi tells the New York Post. “I wake up one day, put up a $25 entry fee, and I make 12,000 bucks.”
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.
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).
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.
Golden Nugget Atlantic City Joins Forces With Betfair for NJ Online Gambling
JERSEY CITY, N.J - Betfair, one of the world's leading online gaming operators, has moved its online gaming operation to the Golden Nugget Atlantic City.
Under New Jersey law, online gaming operators such as Betfair must operate under the Internet gaming permit of a land-based casino in Atlantic City. As a result of this agreement, Golden Nugget Atlantic City will now offer two online casinos to those eligible to play in New Jersey, GoldenNuggetCasino.com and BetfairCasino.com, both of which will operate independently under Golden Nugget's Internet gaming permit.
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:
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.
Redskins Enter Into Fantasy Sports Deal With FanDuel.com: More to Come?
The Washington Redskins are the latest professional sports franchise to enter into a partnership deal with a daily fantasy sports website.
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.
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.
Bodog Arsenal Sponsorship Deal Could Be Nullified: Premier League Clubs Warned
Premier League clubs have been warned about entering into deals with unlicensed overseas online gambling companies in a move that could cost teams £90m a year in sponsorship revenue.
Caesars Looming Bankruptcy: Can’t Make Debt Payments
Caesars Entertainment Corp confirmed in a regulatory filing that it is contemplating bankruptcy as it will be unable to repay debts by the fourth quarter of 2015 without restructuring.
Reaction to Adam Silver Sports Betting Stance is Mixed
Gambling911.com has been bringing its readers extensive coverage of NBA Commissioner Adam Silver’s about-face on legalized sports betting. The reaction has been a mixed bag as one might expect.
New Daily Fantasy Sports Sites FantasyDraft.com, DraftHero Debut: Land T.Y. Hilton
Two new fantasy sports sites debuted in recent days: FantasyDraft.com and DraftHero.com.
Ultimate Poker Closes Its Nevada Online Gambling Site
LAS VEGAS (Associated Press) — Ultimate Gaming officials say they have shut down the company's online Ultimate Poker site in Nevada.
Chairman Tom Breitling said in a statement Friday that online poker revenue fell short of expectations and operating the sites in just a few states where it's legal has made the business costly.
Online poker is legal in Nevada, New Jersey and Delaware.
Players in one state can only go head-to-head with other players also physically in that same state.
Breitling says that made making a profit difficult.
Mavs Owner Mark Cuban Backs Adam Silver Position on Sports Betting
While the National Basketball Association Commissioner Adam Silver may have gone against the status quo by suggesting the time has come for legalized sports betting on NBA games, some of his colleagues – most notably the National Hockey League’s Gary Bettman – remain opposed to the idea.
Bookie Player Management – Reports Made Easy Via Pay Per Head Biz
One of the benefits of using a Pay Per Head business is the improved bookie player management equation.
RealBookies.com is one of the premier bookie management firms offshore, offering some of the best solutions in the world.
Taj Mahal to Close in December
(Associated Press) - THE OWNER of the struggling Trump Taj Mahal Casino Resort filed court papers yesterday saying it will close by next month, making it the fifth of the city's 12 casinos to shut down this year.
Trump Entertainment Resorts said in a Delaware bankruptcy court filing obtained by The Associated Press that its board has approved a shutdown of the casino by Dec. 12. It had threatened to close by then if its main union didn't drop its appeal of a court-ordered cost-savings package.
Obermann Questions Silver Stance on Sports Betting Days After FanDuel Deal
Responding to NBA Commissioner Adam Silver’s new stance that sports betting should be legalized and regulated, ESPN2 sports commentator Keith Obermann suggested there is an underlying reason behind Silver's about-face.
Mississippi Bookies Flourish With Bulldogs, Rebels Riding High
It’s a good year to be a bookie in the Magnolia State of Mississippi. With two of the state’s top schools excelling in College Football, the demand for local bookies has never been greater.
Kent, a local bookie from Greenville, tells Gambling911.com his overall volume generated has more than tripled over last year.
“The folks here want to support their local College teams whether that’s Ole Miss or the Bulldogs,” Kent disclosed. “When their team is winning they feel more comfortable putting some money behind these schools.”
More Atlantic City Woes as Revenues Drop
ATLANTIC CITY, New Jersey — (Associated Press) - Atlantic City's casino revenue fell by 4.4 percent in October compared with a year ago.
The casinos took in $207 million, compared to $216 million in October 2013.
But when casinos that have recently shut down are excluded, the surviving casinos saw their revenue increase by more than 19 percent compared to last October, the figures Thursday showed.
Bwin.Party Shares Plunge Thursday in Late Day Trading
Bwin.Party witnessed more than a 12 percent decrease in its share price following a 10 percent rise Wednesday on news that it was in early takeover talks. The price rose slightly Thursday morning peaking at 121.82 before the late afternoon plunge just shy of 104.
The statement issued Wednesday to the London Stock Exchange entitled "media speculation" said:
Connecticut Could See Third Casino
UNCASVILLE, Conn. (Associated Press) — The tribal authority that runs the Mohegan Sun and rival Foxwoods Resort Casino could join forces to operate a third Connecticut casino near the Massachusetts state line to compete with new casinos opening in the Bay State, its chief executive said.
Mitchell Etess, chief executive officer of the Mohegan Tribal Gaming Authory, told The Day of New London it's "very easy" to see a solution drawn up by the Connecticut legislature.
iPoker New Rake Structure Yet Another Deterrent to Grinders
Online poker grinders may be an extinct breed if the current trend of scaring them off is to continue. The world’s third largest poker network, iPoker, has decided to follow in the footsteps of PokerStars by restructuring its rake formula as a means of attracting strictly recreational players. Ahem fellow grinders: Americas Cardroom still we
Atlantic City Showboat Casino Sold, Will be Turned Into College Campus
Atlantic City’s famed and now shuttered Showboat Casino has been sold to Stockton College, which plans to convert the property into a satellite campus.
Caesars Entertainment and the college announced the purchase plan on Wednesday. The sale price was not announced, nor was a target closing date released.
Bwin.Party Confirms Takeover Talks
(Reuters) - Online gambling company Bwin.Party said on Wednesday it was in early talks with a number of parties over a "variety of potential business combinations", which could result in an offer being made for the firm.
Shares in Bwin.party, which made the statement in response to recent media speculation, jumped almost 17 percent on the news to 126 pence.
The company has faced pressure from U.S. activist investor Jason Ader's Spring Owl vehicle to shake-up its board, improve its growth strategy and reduce infrastructure costs.
