Business & Financial
Atlantic City Scores Gets Over 1000 Job Applicants After Casino Closures
Four casinos have either shut down or are in the process of shutting down in Atlantic City but at least one local business has scored big from these sudden closures.
SCORES Atlantic City, the legendary gentleman’s club, has realized a 40% increase in job inquiries over the past two weeks.
Nearly any position you can think of has witnessed a jump in applications including security, hostesses, bartenders, barbacks, entertainers, and DJs.
Bwin.Party Trading Activity This Week has Some Scratching Their Heads
At least one Director in publicly traded Bwin.Party bought shares immediately after earnings. Amazingly, within a day of those shares purchases, the company started to buy back shares in the open market.
“It’s immoral and unethical for Directors and Management to ‘front run’ a corporate buyback in a matter of hours,” a source tells Gambling911.com.
A la Wikipedia, front running is a practice whereby a stockbroker executing orders on a security for its own account while taking advantage of advance knowledge of pending orders from its customers.
Trump Plaza Might Try to Keep Betfair Online Gambling Relationship After Closure
(Associated Press) - Two Trump casinos in Atlantic City are in turmoil as the closing of Trump Plaza nears.
Trump Plaza is considering keeping its Internet betting operation online after the physical casino closes Sept. 16, and the Taj Mahal is experiencing money problems.
In a petition to New Jersey casino regulators, Trump Entertainment Resorts says it might try to keep its Internet gambling operation with online partner Betfair going after Trump Plaza closes on Sept. 16.
Where Can I Bet on Football Online With Bitcoins?
You can bet NFL Football and College Football using bitcoins at SportsBettingOnline.ag here.
‘Frontline’ to Profile Macau: How Billions of Dollars Make it to the Gambling Tables
The popular and well produced PBS series “Frontline” this month (September 2014) will profile the Chinese gambling enclave of Macau. Watch It Here
Veteran correspondent Lowell Bergman explores how this former Portuguese colony become the gambling capital of the world. And, yes, Macau is bigger than Vegas….way bigger than Vegas.
Anti-Web Gambling Crusader Adelson May Buy the US Senate: $100m Up for Grabs
Gambling magnate and GOP mega donor Sheldon Adelson may be looking to try to buy the US Senate. He is spending $100 million of his own cash on the mid-term elections through various untraceable conservative groups, The Daily Beast is reporting.
Undercover in Myanmar's Sin City Where Anything Goes: Casinos Coming Soon?
The BBC last month featured an undercover report detailing Myanmar's Sin City and its “anything goes” mentality that includes the likes of gambling, drugs, prostitution and various black markets. The city even hosts a popular Thai transvestite show.
Mass Unemployment Filings in Wake of Atlantic City Casino Closures
ATLANTIC CITY, N.J. (Associated Press) — Hundreds of newly laid-off casino workers began filing for unemployment Wednesday morning, the first attendees at an assistance center that expects to process 5,000 workers over the next three days.
UK Suspends PokerCent.com License, Service
The United Kindgom Gambling Commission (UKGC) has suspended the license of a small independent online poker room, PokerCents.com. Service has also been shut off as a result. PokerCents.com hopes to have its service restored on October 1 once it comes into compliance.
The online poker company claims its license was suspended due to not having the proper certificate.
The Commission was vague in its own statement issued Monday.
Macau Casinos Suffer for Third Straight Month
Shares of Macau-centric casinos such as Las Vegas Sands (NYSE:LVS) and Wynn Resorts (NASDAQ:WYNN) fell on reports of weaker-than-expected Macau gambling revenue for Aug.
Sterne Agee slashed earnings estimates on both casino companies as well as on MGM Resorts Int'l (NYSE:MGM) and Melco Crown Entertainment (NASDAQ:MPEL).
Sands shares fell 5.1% to 63.10. Wynn fell 4.1% to 185.05. MGM fell 2.6% to 23.83.
Source: Investors.com
Is a Bitcoin Online Gambling Boom on the Horizon?
CoinDesk.com featured an interesting piece on Tuesday suggesting that the bitcoin gambling boom is only getting started.
Bookies Make Out Well for First Week of College Football
Sports bookies both online and in Vegas enjoyed a successful weekend and hope that trend continues with the start of NFL this upcoming weekend.
Among the big hits in Vegas, Virginia covering against UCLA.
Credit Suisse Gives Playtech ‘Neutral’ Rating
Online gambling software company Playtech PLC (LON:PTEC) had its stock reinstated by stock analysts at Credit Suisse as “neutral” with a current price target of GBX 780 ($12.94). Credit Suisse’s target price points to a potential upside of 8.24% from the company’s current price.
Other analysts, including Canaccord Genuity this past Thursday, have either reinstated or raised their price target on shares of Playtech PLC to a “buy” rating. In the case of Canaccord Genuity, their price target on shares rose from GBX 825 ($13.69) to GBX 840 ($13.94).
Revel Starts Shutdown Monday After Just 2 Years
ATLANTIC CITY, N.J. (Associated Press) — The most spectacular and costly failure in Atlantic City's 36-year history of casino gambling begins to play out Monday when the $2.4 billion Revel Casino Hotel empties its hotel.
Its casino will close early Tuesday morning.
Revel is shutting down a little over two years after opening with high hopes of revitalizing Atlantic City's struggling gambling market. But mired in its second bankruptcy in two years, Revel has been unable to find anyone willing to buy the property and keep it open as a casino. It has never turned a profit.
Atlantic City Residents Hope for Best as Casinos Close
The storied Showboat Casino in Atlantic City, New Jersey has shut its doors and two more casinos are about to close in the coming weeks. Residents now brace for the worst, worrying over what will become of their seaside town.
Behind the Scenes of the Showboat Casino Closure and How it Will be Done
ATLANTIC CITY, N.J. (Associated Press) -- When a casino shuts down, making an announcement over the loudspeaker and herding gamblers off the casino floor is only the beginning. Here's a look at what takes place behind the scenes:
-- Secure the money and the chips. Casino security, supervised by inspectors from the state Division of Gaming Enforcement and backed by state police, immediately secure the money and gambling chips from each table game and slot machine. Supervisors and dealers count the chips, total up the money and have it wheeled away to the cash counting rooms.
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Bookies Make Out Big to Kick Off College Football: Aggies 40-1 to Win Championship
The Texas A&M Aggies stunned South Carolina Thursday propelling the oddsmakers at Sportsbook.ag to slash their odds of winning the National Championship from 100-1 to 40-1.
Paddy Power Profits Plummet Unfavorable Sports Results Contribute
DUBLIN, Ireland (Reuters) - Paddy Power's operating profit fell sharply in the first half of the year after a run of unfavourable sports results, but the Irish gambling company said a second-half rebound should deliver full-year earnings growth.
Paddy Power, which has more than doubled its annual profits since 2009 on an overseas expansion and a strong performance online, leads the industry in smartphone and tablet betting.
Nevada Gambling Revenue Inches Upwards in July
LAS VEGAS — (Associated Press) - State officials say Nevada gambling revenue was up less than 1 percent in July compared with the same month last year.
The Nevada Gaming Control Board reported Thursday that the state's casinos brought in $932 million last month. Las Vegas Strip gambling revenue was up 5 percent to $563 million, while downtown Las Vegas revenue was down 3 percent to $38 million.
Reno casino revenue was down 2 percent in July to $48 million, and South Lake Tahoe gambling revenue dove 23 percent to $25 million.
Las Vegas is Getting an NHL Team by 2017
According to a report in the Vancouver Province newspaper, expansion of the NHL to Las Vegas is a "done deal.''
888 CEO Brian Mattingley to Step Down
(Reuters) - 888 Holdings Chief Executive Brian Mattingley will step down from the day-to-day running of the online gambling company next year and become chairman in a management restructuring, 888 said on Wednesday.
888, which offers casino, poker and bingo games, will promote its Chief Operating Officer Itai Frieberger to a seat on the board in January and he will run the business with Chief Financial Officer Aviad Kobrine when the changes take effect.
Warren Buffett Won’t Play Roulette: Joins Floyd Mayweather in Vegas
TMZ.com caught up with billionaire Warren Buffet while in Vegas. He was there to both gamble and meet up with boxer “Pretty Boy” Floyd Mayweather, Jr.
Horseshoe Casino in Baltimore Opens Tuesday Night
BALTIMORE — (Associated Press) - The Horseshoe Casino Baltimore is scheduled to open, marking a new milestone in Maryland’s development of casino gambling.
Dreyfus: Poker is Mainstream, Legitimate and Bankable
10 years after the first boom, Poker has now reached 100 million fans and grown to become an almost $4 billion industry around the world. Last year, for the first time, more than $1 Billion was spent on buy-ins by live players in poker tournaments aggregated by the Global Poker Index (GPI) across 94 countries.
Michigan Bookies: Detroit, Ann Arbor, East Lansing, Grand Rapids
Michigan bookies are well placed with two of College Football’s most popular and successful programs: The Wolverines and Spartans. Likewise, Michigan bookies can capitalize off of Detroit’s four professional sports franchises including the NFL Lions, MLB’s Tigers, NBA’s Pistons and, in recent years, the more prominent Red Wings.
PokerStars Says ‘No’ to ‘Free Gaza’ and Other Political Messages
Following the EPT Barcelona €50,000 Super High-Roller event of this past week in which WSOP One Drop winner Dan Colman wore a “Free Palestine” shirt and his backer Olivier Busquet wore a “Save Gaza” shirt, PokerStars has put an end to so-called political statement apparel during tournament play.
Deutsche Bank Downgrades Macau
Deutsche Bank has downgraded a number of key casinos in the Macau gambling sector as a response to slowing demand and perhaps fears of Chinese government intrusion. Earlier in the week, Gambling911.com reported on how the Chinese government has begun to crack down heavily on gambling and other so-called “vice” activities.
Las Vegas Goes Gay
LAS VEGAS (Associated Press) — While gay couples still can't get married in the marriage capital of the world, Las Vegas wants to let them know they — and their money — are more than welcome to the buffet of other activities Sin City has to offer.
Upstate New York Bookies In the Line of Fire: Rochester, Buffalo, Syracuse, Albany
If you are a bookie doing business in upstate New York, better be careful. Local law enforcement in that region from Rochester to Albany have been quite aggressive in recent years when it comes to quashing what it deems to be illegal sports betting rings.
