Business & Financial
Atlantic City Loses Half Its Revenue Over Eight Years
ATLANTIC CITY, N.J. - (Associated Press) -- Atlantic City has lost nearly half its casino revenue over the past eight years as competition in nearby states cannibalized its market and drove four casinos out of business.
Figures released Wednesday by the New Jersey Division of Gaming Enforcement show the casinos took in $2.74 billion in 2014, or about what the industry brought in in 1988. That is down 48 percent from a high of $5.2 billion in 2006. The decline would have been greater without the $122 million that Internet gambling provided last year.
CFP Championship Game Attracts Record Betting for Some: Books Hit by OSU Win
The first ever CFP Championship Game between Ohio State and Oregon was a bonafide hit though it wasn’t exactly pretty for the books.
Colorado The Latest US State to Want Legalized Sports Betting: Success With Pot
Colorado’s biggest bookie made millions. His high profile bust has lawmakers insisting that sports betting in the state should be legalized.
And no state should know better the potential for industries on the fringe. Colorado, after all, has witnessed a massive windfall following its legalization of marijuana only a year ago.
Creditors Try to Block Caesars Restructuring
Jan 12 (Reuters) - A group of second-lien bondholders of casino operator Caesars Entertainment Corp filed a petition for involuntary Chapter 11 bankruptcy protection against the company's largest unit after it defaulted on interest payments.
Caesars Entertainment Operating Co Inc defaulted on $225 million of payments due on Dec. 15.
The petitioning group includes hedge funds Appaloosa Investment Limited Partnership I and OCM Opportunities Fund VI LP, according to the petition filed on Monday.
The payments were due on principal of $4.5 billion.
Fantasy Sports Leagues Embrace the NFL, But Shun College Football
Company Executives Tell Gambling911 Why That’s So And Why It’s Changing
When it comes to legal sports wagering at Las Vegas sportsbooks, more money is wagered on pro football than any other sport.
The NFL is No. 1 for the books and always has been.
The second most popular sport to bet on at the Vegas books is college football, not surprising considering the overall popularity nationally of the game of football.
So why hasn't this affection for NCAA football translated to fantasy sports the way NFL football has?
Americas Cardroom Officially Begins Accepting Bitcoin Deposits
San Jose, Costa Rica – Getting money onto an online poker account has now officially become more convenient. Leading US online poker site Americas Cardroom today announced a groundbreaking move in payment processing. The poker site today becomes one of the first poker rooms to accept Bitcoin for deposits, with maximum daily transactions as high as $1,000 and minimum deposits as low as $5.
Pay Per Head Sites Down Due to DoS: PayPerHead.com Vows to Stay Up
In recent weeks a new spate of Denial of Service attacks has taken down online gambling sites, most notably Internet poker rooms. But Pay Per Head sites have also been the targets of these distributed attacks during one of the most critical periods of the year.
NBA Television Contract Would be Worth Triple If Sports Betting Were Legalized
A Breitbart News source tells the Web publication that, should sports betting on the NBA be permitted under US law, the National Basketball Associations Television contract would easily triple.
Fantasy Site ScoreStreak.com Does Things Their Way
Site’s Unique Format Proves Popular With Fans
SAN MATEO, Calif. -- With a steady supply of computer- and Internet-savvy talent and some of the biggest techno-brains around, it's no surprise that Silicon Valley in Northern California has become Ground Zero for the Sports Fantasy League business, including much of the newer business in that industry that involves daily sports fantasy.
Bitcoin or Bit Con: $730 Million Bitcoin Heist May Have Been Inside Job
As more and more online gambling websites mull over the anonymous digital currency bitcoin, there appears to be good reason why said companies have had reservations up to this point.
Business Insider in the UK reports that Japanese authorities are investigating whether a $730 million heist this past year could have been an inside job.
MGM Shares Plummet: Morgan Stanley Says ‘Worst is Over’ for Macau Gaming
Casino stocks were not immune to Monday’s steep drop across all markets. MGM Resorts reported a decline of 1.6% to $20.68 in trading due primarily to disappointing gambling results in Macau last month.
Last year’s results were the worst decline since the Chinese government liberalized the gambling enclave in 2001 with a 30.4% drop-off.
Las Vegas Sands Gets Green Light for Paris-Themed Casino in Macau
The Asian gambling Mecca of Macau has approved a Paris-themed casino the Las Vegas Sands has asked to establish there. Sands already operates a successful casino establishment in the former Portuguese colony, now a part of China.
The $2.7 billion Paris-themed integrated resort will feature a replica of the Eiffel Tower. With more than 3,000 rooms, the Parisian Macao will bring more than 490,000 square feet of retail space, dining options, new meeting and convention facilities.
Pay Per Head for the College Football Playoff National Championship
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Macau Gambling Revenue Takes Record Plunge
HONG KONG (Reuters) - Gambling revenue in the Chinese territory of Macau, the world's biggest gambling hub, fell 2.6 per cent to 351.5 billion patacas (S$58.4 billion) in 2014, the territory's first annual decline since casinos were liberalised there in 2001.
This came as revenue plunged a record 30.4 per cent in December from a year earlier to 23.3 billion patacas, marking the seventh consecutive monthly decline, data released on Friday by Macau's Gaming Inspection and Coordination Bureau showed.
Adult Entertainment Company Vivid Joins Forces With Fantasy Sports Site
Adult entertainment and fantasy have always worked great together….but Fantasy Sports?
Yes it’s true, the world’s largest purveyors of pornography, Vivid Entertainment, this week entered into a deal with the third largest Daily Fantasy Sports site DraftDay.com.
Professional Sports Leagues Find Great Value in Daily Fantasy Sports
The professional sports leagues are loving Daily Fantasy Sports...and with good reason.
Unibet Buys Bingo.com for $8 Million
Domain names are still a hot commodity and certain domain names are fetching big bucks. This week, Bingo.com was sold to the online gambling firm Unibet for a cool $8 million.
Nevada Gaming Revenue Flat in November
LAS VEGAS (Associated Press) - State officials say Nevada gambling revenue was virtually flat in November compared with the same month a year ago. Nevada Gaming Control Board officials reported Tuesday that the state's casinos brought in a little more than $876 million in November.
That was up less than one-tenth of a percent from November 2013. Las Vegas Strip gambling revenues of $508 million were down 4 percent year-over-year, while downtown revenue of $43 million was up 13 percent.
New Fantasy Sports Site Draftster.com is Looking to Get Noticed
SANTA MONICA, Calif. -- This tony Southern California beach town just outside Los Angeles has always been known for great waves and great surfing, not to mention seeing an occasional celebrity or two.
But as the base for an Internet fantasy sports league?
That's something that's more likely to come out of Northern California, where tech-obsessed Silicon Valley is located.
TheScore Acquires Swoopt Daily Fantasy Sports App
While the Daily Fantasy Sports industry may be in its infancy, consolidation continues. Last week it was announced that Toronto-based TheScore.com had acquired a mobile Fantasy sports app called Swoopt.
Pay Per Head for College Basketball
It’s that time of year again when bookies start building up their customer base for the College Basketball season and the search begins for a Pay Per Head company that can assist with all your needs (managing clients, providing Web support, monitoring betting trends, 24/7 phone service, etc).
Daily Fantasy Sports Operator Sports Tradex CEO Talks About Industry With G911
HOUSTON -- This sprawling Southwestern metropolis, now the country's fourth-largest city, has been home to many historic venues, such as the Astrodome and NASA headquarters.
And now it is the home of a sports fantasy company that is revolutionizing the industry--Sports Tradex (www.sportstradex.com).
2014-2015 No Deposit Sportsbook Bonuses for College Bowl Games
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33-Year-Old Turns $35 Into $2 Million at 2014 Fantasy Football Championship
A 33-year-old personal trainer and former teacher last week converted a $35 entry into $2 million at the 2014 FanDuel Fantasy Football Championship in Las Vegas.
Caesars Entertainment to Buy Affiliate in Move to Reduce Debt
LAS VEGAS (Associated Press) — Caesars Entertainment Corporation says it will buy an affiliate as it tries to smooth the reorganization of a struggling division and balance its debt load.
The Las Vegas casino giant says the merger with Caesars Acquisition Company will give it $1.7 billion in cash it needs to guarantee loans in a proposed bankruptcy deal it's pitched to creditors of its debt-heavy operating division.
Wizard of Oz Casino Coming Soon to New York East of Syracuse
Ray Halbritter, chief executive officer of the Oneida Nation, has confirmed in a press release Monday that the Tribe plans to develop a Wizard of Oz themed casino 14 miles East of Syracuse in the town of Chittenango.
China to Begin Crackdown on Macau Amidst Dissent in Gambling Mecca
(Reuters) - By night, Ieong Man Teng was dealing baccarat to gamblers at the Wynn Macau casino. By day, he was mobilizing thousands of fellow dealers to protest on the street for better working conditions and higher pay.
That made him one of the people on Beijing's watch list earlier this year in Macau, the world's biggest gambling hub.
CNN Live Twitter Chat Thursday: The Future of Bitcoin
CNN is scheduled to discuss the topic of Bitcoin’s future in a live Twitter chat Thursday December 18, 2014 at 12 PM EST @CNNTech. The anonymous digital currency has finally begun to catch on in the Internet gambling community after a long period of resistance. A number of mainstream outlets are also starting to take notice.
A panel of experts have been assembled to discuss Bitcoin. They include:
Maximum Fantasy Sports is Setting the Trends in the Industry
Site originates game varieties that others then copy
CHICAGO -- One of the up-and-coming new fantasy sports websites that is attracting a lot of attention these days is called Maximum Fantasy Sports and is run from the Windy City in the Heartland of America.
That alone makes it stand out--most fantasy sites, it seems, are based on the East or West Coasts.
Bookie Call Center Outsourcing for College Bowl Games, Playoffs
PayPerHeadAgents.com is one of the leading bookie call center outsourcing businesses for this year’s College Bowl games season and the highly anticipated first ever College Football Playoffs.
