Business & Financial
Playtech’s Billionaire Founder Teddy Sagi About to See Huge Payday
With online gambling software provider Playtech entering into deals with Ladbrokes and a yet-to-be-named US casino partner, company founder Teddi Sagi is in for another big payout thanks in part to William Hill.
From the London Evening Standard:
Intrade Irregularities Raise Eyebrows: CEO Paid Millions at Time of Death
Intrade.com’s abrupt closure this week has provided the online gambling industry with yet another black eye. The darling of mainstream media, Intrade cited “accounting irregularities” for the shutdown.
Equity Poker Network Launches
Online poker network Equity Poker Network (EPN) launching with a bang, a non-profit poker network promising to bring operators, players and affiliates a fairer future.
San Jose, Costa Rica – Online Poker Operators looking to profit even more from the game can now count on Equity Poker Network, a new cooperative non-profit poker network. EquityPokerNetwork.com, announced that operators can now sign up to a fairer future where profit and cross cage is balanced ensuring even Sports, or other operators, with mostly losing players will be winners.
Glu Mobile Launches Real Money Gambling, Shares See 27 Percent Jump
(Reuters) - Mobile games maker Glu Mobile Inc launched its first real-money mobile gambling game through UK mobile betting game designer and operator Probability Plc, sending the U.S. company's shares up as much as 27 percent.
Online gambling is growing in popularity in the UK. Zynga Inc and Facebook Inc are also looking to tap the market through partnerships.
Zynga plans to offer real money casino games in Britain, and Facebook has said it will allow users in the UK to wager real money on its site.
PokerStars Retaliates Against AGA
Attorneys for the Rational Group, parent company of PokerStars, sent off a scathing 15-page letter responding to the American Gaming Association’s petition to try and prevent Stars from purchasing an Atlantic City casino.
The letter essentially accuses the AGA of attempting to protect its own economic interests.
PokerStars is looking to buy the troubled Atlantic Club Casino and Hotel in Atlantic City.
No Divine Intervention: Pope Bets May be Lost at Shuttered Intrade
With the abrupt closure of Dublin-based Intrade.com on Monday, there is increasing doubt that customers will see their monies returned and, it would appear, all those Pope bets will go up in smoke just like that smoke signal that will determine when the new Pope is selected.
PokerStars Atlantic City Bid Still has AGA Up in Arms
(Associated Press) - A bid by the world's largest online poker website to buy an Atlantic City casino is touching off a battle with brick-and-mortar casinos that is getting very nasty, very quickly.
The Rational Group, the parent company of PokerStars, wants to buy The Atlantic Club Casino Hotel. If approved, it would mark the first ownership of an American casino by a solely-online gambling company.
Atlantic City Revenue Down 12.5 Percent in February
(Associated Press) - Atlantic City's casinos took in 12.5 percent less from gamblers in February than they did a year ago.
Figures released Monday by the state Division of Gaming Enforcement show the city's 12 casinos took in $212.3 million.
The decline was helped by the fact that 2012 was a leap year in which February had 29 days, compared with the usual 28 this year.
Revel, the city's newest casino which will file a Chapter 11 bankruptcy petition this month, saw revenue rise to $9 million, up from $7.9 million in January.
Report: Yahoo Could be Looking to Purchase Zynga
Shares in online poker company Zynga surged over 8 percent Monday on news that Yahoo! was possibly considering buying the company.
Zynga’s shares have risen over 50 percent in recent months as the games developer makes plans to enter the real money online gambling market. So far, New Jersey, Nevada and Delaware have legalized various forms of online gambling.
Intrade Shuts Down: Online Gambling Firm Fell on Bad Times
Troubled Dublin-based betting site Intrade.com has shut its doors.
Customers Monday were greeted with the following message upon landing on the Intrade.com website:
With sincere regret we must inform you that due to circumstances recently discovered we must immediately cease trading activity on www.intrade.com.
888 All American Poker Network to Become First Based in US
888 Holdings on Monday unveiled its new subsidiary, the All American Poker Network. It will be the first US-based online poker network following 888 obtaining a license to operate out of Nevada last week.
888 has joined forces with investment firm Avenue Capital Group. In addition to its own portfolio of brands, land-based casino Treasure Island will be among the first to offer real money Internet poker on the network.
Ex-Playtech, Asian Logic Man Greg Fermont Joins Bodog Asia
With Bodog Asia growing as both an operator and B2B provider the long search for a COO to join Managing Director, Robert Gustavsson and his team is finally over.
Greg Fermont’s industry experience speaks for itself with stints at Playtech, Asian Logic and most recently Sun City. Greg brings not just gaming knowledge to Bodog Asia but also years of regional experience so vital to success in the area.
Playtech, Ladbrokes Agree To Online Gambling Deal Based on Rev Share Model
Ladbrokes, the UK’s second largest bookmaker, has entered into a five-year deal with online gambling software firm Playtech.
As part of the deal, Ladbrokes will set up a separate digital marketing team based out of Israel.
The Ladbrokes-Playtech partnership closely resembles that of William Hill’s often tense relationship with the software provider, that was severed a week ago.
Nevada Gambling Revenue Down 12.5 Percent in January
CARSON CITY, Nev. —(Associated Press) - State officials say Nevada gambling revenue was down 12.5 percent in January, while state collections went up that month.
The Nevada Gaming Control Board reports casinos brought in $909 million in January.
The $507 million in winnings on the Las Vegas Strip were down nearly 19 percent in January, while downtown Las Vegas revenues of about $45 million were down 5 percent.
Casinos in Washoe County won nearly $53 million, which is down 2 percent from the same month a year ago.
Malta the Next Macau of the Mediterranean
It is already a major hub for online gambling sites. Now Seeking Alpha’s Jonathan Yates has pondered the idea of Malta becoming the “Macau of the Mediterranean”.
Macua is the largest gambling destination in the world and Yates believes Malta has the potential to some day achieve that coveted position, at least where the Mediterranean region is concerned.
Full Tilt Poker vs. PokerStars: Professionals Head-to-Head Stats Revealed
LONDON, UK –It’s just three days until Team PokerStars Pros take on Full Tilt Poker’s The Professionals in the ultimate heads-up showdown at the London Poker Festival, so it’s time to have a look at the key stats...
888 Holdings Approved for Nevada License
(Reuters) - European online gaming operator 888 Holdings Plc cleared a key hurdle in its return to a reopening, regulated U.S. online poker market after the Nevada Gaming Control Board voted to recommend approval of its application for a state interactive gaming license at a hearing scheduled for March 21.
The Nevada Gaming Control Board on Wednesday said it recommended the approval of Gibraltar-based 888's applications, including one as a manufacturer of an interactive gaming system, one as a distributor and another as an interactive gaming service provider.
Bitcoin Now Accepted at World’s Largest Online Poker Network iPoker
Some of the biggest Bitcoin news yet as iPoker Network online poker skin WinPoker has announced it will begin accepting the virtual currency.
This is the first time a poker room on a major network has begun to accept Bitcoin for deposits and withdrawals. iPoker is the world’s largest online poker network. Bitcoin’s price has enjoyed a staggering rise over the past two months from $14 to $40.
PokerStars was Offered Purchase of World Series of Poker, Rio Hotel
Reports surfaced Wednesday that Caesar’s had offered to sell their coveted World Series of Poker (WSOP) and Rio Hotel properties to PokerStars last month but the later refused.
This news comes on the heels of the American Gaming Association, based out of Nevada, submitting a letter to New Jersey officials urging them not to allow a proposed sale of Atlantic City’s Atlantic Club Hotel and Casino to PokerStars.
Zynga’s Mark Pincus Loses Billionaire Status
While casino magnate Sheldon Adelson ranked number 15 on Forbes newest Billionaire list, Zynga’s Mark Pincus has dropped off of it.
Poor Mark Pincus’ wealth has dropped into the hundreds of millions.
He’s appeared on the list over the past two years Zynga has been publicly trading.
Breaking News: The Ader Group Wins IGT Board Seat
The Ader Group today announced that International Game Technology (NYSE: IGT) concluded that Daniel B. Silvers has been elected to the IGT Board of Directors at the Company’s Annual Meeting, based on preliminary vote tabulations.
Jason N. Ader issued the following statement on today’s results:
IGT Dividend Issued on Eve of Contested Shareholders Meeting
Slots manufacturer International Game Technology (IGT) has issued an 8 cents per share dividend on the eve of a hotly contested shareholders meeting.
The IGT board of directors declared the dividend, which is a 33 percent increase over this same quarter last year.
"This is a demonstration of our continued commitment to return capital to shareholders, efficiently and prudently, driven by the strong financial performance of the company," Hart said.
AGA Opposes Sale of Atlantic Club Casino to PokerStars
The American Gaming Association (AGA) is opposing the sale of the Atlantic Club Hotel and Casino in Atlantic City to PokerStars.
The AGA sent a letter to the New Jersey Casino Control Commission urging them to reconsider allowing PokerStars to acquire the property.
Online Poker Segregation Takes Center Stage With Revolution, PartyPoker Moves
Segregating online poker players based on skill goes a step too far, so claims Aaron Todd of CasinoCity.com.
While a number of players might concur, operators have told Gambling911.com this is all a “fight for survival” with “reckless management practices” the primary reason why Full Tilt Poker failed in its first life before PokerStars ultimately revived the company.
Republican Mega Donor Sheldon Adelson Caught Up in ‘Bribe’ Scandal
Auditors at Las Vegas Sands Corp. admitted Friday "there were likely violations" of the Foreign Corrupt Practices Act barring Americans from bribing foreign officials to secure an advantage.
This disclosure was made in a late afternoon filing with the Securities and Exchange Commission Friday that ultimately leaked out to the media Sunday.
Heading up Las Vegas Sands Corp. is none other than powerful casino magnate and mega Republican donor Sheldon Adelson.
Countdown to the Vote: IGT Power Struggle Comes to Head Tuesday
A much talked about proxy battle at the world’s largest slots manufacturer will come to a head on Tuesday.
Sands Says It May Have Violated Law Prohibiting Bribes
LAS VEGAS, Nev. – (Associated Press) - Las Vegas Sands Corp. says in a regulatory filing that it probably violated a federal law that prohibits bribing foreign officials.
The casino company said in a filing Friday that the Securities and Exchange Commission asked two years ago for records relating to compliance with the Foreign Corrupt Practices Act.
Las Vegas Sands, which is controlled by billionaire Sheldon Adelson, said that after it got the SEC subpoena on Feb. 9, 2011, the audit committee of the board of directors opened an investigation.
Moody's: Legalized Online Gambling in New Jersey a Boost to Casinos
(Reuters) - Moody’s Investors Service on Thursday said legalization of Internet gaming in New Jersey is credit positive for the Atlantic City casino industry.
Moody’s said licenses to offer Internet gaming will be limited to Atlantic City's existing casino operators and their partners, and it will attract more players to the city.
Casino Poker Rooms Closing as Online Crazy Subsides
LAS VEGAS (Associated Press) — The Tropicana hoped to step back into the big leagues when it opened its poker room in the heart of the Las Vegas Strip, touting it as the coolest in town.
Source Close to IGT Proxy Fight Gives Skinny on Tuesday’s Critical Vote
Gambing911.com Senior International Correspondent Jenny Woo had an opportunity Friday to speak to someone intimately close to the IGT power struggle that will culminate on Tuesday into a final vote that determines a potential new makeup of the world’s leading slot manufacturer’s board.
