Business & Financial
Alabama Casino VictoryLand Raided
MONTGOMERY, Ala. Alabama Attorney General Luther Strange announced Tuesday morning that gambling machines and cash were seized at VictoryLand casino in Macon County.
VictoryLand’s developer and others involved with the casino were charged last year with vote selling. The casino had previously been shut down in 2010 after a crackdown by then-governor Bob Riley.
A release from Strange's office made mention of a months-long investigation into electronic bingo machines that authorities determined were illegal.
- Gilbert Horowitz, Gambling911.com
Hart Attacked! Forbes Stops Short of Calling IGT CEO ‘Incompetent’
A Forbes.com piece published online Monday questions whether Patti Hart can maintain her post as CEO of the world’s largest slot manufacturer IGT.
Hart is currently embroiled in a nasty proxy battle with Jason Ader, whose group is attempting to place three of its own handpicked individuals on the IGT board and, presumably, remove Ms. Hart.
PokerStars Now Refers Poker Players to Morningside Recovery After G911 Story
Following Gambling911.com’s Senior International Correspondent Jenny Woo’s interview with Morningside Recovery’s gambling addiction specialist Dr. Elizabeth Waterman, Psy.D, the world’s largest online poker site, PokerStars, has begun referring their own pros to this prestigious organization.
Las Vegas Review Journal Picks Up on G911 IGT-Bringit Exclusive
The IGT proxy fight is getting uglier by the day, even with a national holiday occurring in the States.
The Las Vegas Review Journal picked up on Gambling911.com’s exclusive whereby IGT CEO Patti Hart failed to disclose material information to all investors that a Silicon Valley-based investment bank where her husband is a top executive oversaw the slot machine maker's purchase of a small social gaming technology company last year.
Why Zynga Fell Hard Tuesday: Abusive Short Selling Uncovered
Just after Gambling911.com reported on how online gaming company Zynga had been flying high on the stock market, its share price collapsed by nearly 12 percent with volume three times the norm.
Betable Says Real Money Gambling in UK ‘Well Beyond Expectations’
Betable, a new company that allows mobile gaming companies to convert their free games into real money, claims the “experiment” is working and has been “well beyond expectations”.
Currently, Betable.com is only allowing real money play only in the United Kingdom.
From VentureBeat.com:
Betable’s aim is to disrupt traditional land-based casinos and online gambling by making it extremely easy for companies to convert their non-real-money gambling games into gambling titles.
Vegas Bigwigs Pitted Against One Another in IGT Battle
The battleground may be littered with wounded Vegas royalty when all is said and done in the continuing saga of gaming company IGT’s proxy fight. Casino bigwigs are being forced to take sides.
From Red Headed Step Child to Wall Street Darling, Zynga Shines
In just one week’s time online gaming powerhouse Zynga has become the darling of Wall Street.
It was just a few weeks ago that Zynga was scoffed at by investors.
Zynga is becoming a true Cinderella story with its stock price rising more than 11 percent.
The company reported better-than-expected financials last week and is looking to offer real money online poker in the US by the spring.
In addition to the real money online gambling space, Zynga CEO Mark Pincus has begun to focus more heavily on the emerging mobile market.
Zynga Shares Shoot Up Another 5 Percent Monday Morning
Zynga shares rose for a 5th straight session Monday in the wake of positive financial numbers and news that New Jersey Governor Chris Christie is willing to sign a bill into law this spring allowing Web gambling within that state’s borders.
Zynga’s stock has been bouncing back because of a short squeeze.
The stock was up over 12 percent by Friday’s closing bell.
Borgata to Offer Gambling on In-Room Televisions
Atlantic City – (Associated Press) - An Atlantic City casino says it will become the first casino in the United States to let hotel guests gamble from their rooms over the TV set.
The Borgata will offer its E-Casino to hotel guests starting Feb. 18.
It lets guests with player's cards set up electronic accounts and risk up to $2,500 a day. Slots and four kinds of video poker will be the first games offered.
PokerStars Appoints Lee Jones as head of Poker Communications
ONCHAN, ISLE OF MAN –PokerStars today appointed Lee Jones as Head of Poker Communications for PokerStars.
In this newly-created role, Jones will serve as a key PokerStars spokesperson on poker issues for internal and external audiences. He will bring his deep knowledge, experience and love of poker to ensure that PokerStars is able to continue communicating about poker in an authentic and people-focused manner.
Silence of the Hams: Ader Linked Websites Blocked Inside IGT
The Las Vegas Review Journal on Sunday reported that gambling firm IGT has begun blocking its employees from accessing gaming analyst Jason Ader-linked websites.
Ader is currently embroiled in a nasty – and quite aggressive – proxy battle with IGT’s current management team.
Questionable Trading Activity at IGT Raises Eyebrows
In February 2012, IGT acquired a company called BringIt, Inc. (“BringIt”) and Gambling911.com can reveal exclusively some of the questions surrounding this business deal.
IGT has previously identified the acquisition in filings with the U.S. Securities and Exchange Commission (SEC), including on page 95 of IGT’s Form 10-K, filed on November 28, 2012.
Carbon Poker to Release New Mobile Poker Client: Looking for Testers
Carbon Poker on Friday announced it is about to release its new mobile poker client that will soon be pushed live.
Nevada Gaming Revenue Up 10 Percent
CARSON CITY, Nev. — (Associated Press) - December was a good month for Nevada casinos.
State gambling regulators reported Friday that casinos statewide took in a little over 10 percent more in gambling revenues during the month than they did in the same period a year ago.
The Nevada Gaming Control Board says casinos won about $943 million during the month, and the state collected more than $39 million based on that amount.
The state's share represents a more than 23.5 percent increase from the previous year.
Is Patti Hart Prepared to Step Down as IGT CEO for Jason Ader
Will Patty Hart Step Down From IGT For Team Jason Ader? That is the million dollar – or in this case, potentially multi-million dollar question – being asked as we are about to enter the middle part of February.
Christie Move on Internet Gambling Creates Huge Impact for Markets
New Jersey Governor Chris Christie’s move to conditionally approve legalizing Internet gambling in the state has resulted in a surge in share prices of publicly traded European i-Gaming companies.
PokerStars Content With Christie Decision on Internet Gambling
PokerStars, the world’s largest real money online poker site, expressed satisfaction with New Jersey Governor Chris Christie’s conditional veto of an Internet gambling measure. PokerStars parent company has confirmed it is in negotiations to acquire the troubled Atlantic Club Casino and Hotel in Atlantic City.
IGT Proxy Fight: First Time Major Customers Enter Any Proxy Fight
In the July 16th, 1999 edition of Business Journal of San Jose Patty Hart of IGT claimed “Wringing more efficiency out of the organization is not what I do best. I’m a problem solver and team builder. I love talking to customers, employees, and engaging the outside world, not going to meeting after meeting to find out where we can take three seconds off our call times”.
IGT Urged to Immediately Commence ‘Dutch Auction’ Tender Offer
Orange Capital, LLC issued an open letter to the Chairman of the Board of International Game Technology (IGT). *Note that Jason Ader is being represented by top PR FIRM 5WPR (www.5wpr.com)
Orange Capital, LLC, a New York based investment firm, has issued the following open letter (text below) to the Board of Directors of International Game Technology (NYSE: IGT) in response to the Company’s recent share price performance and election contest with the Ader Group:
IGT Proxy Fight on CNBC: Ader Says Stock Price Should be Much Higher
Gaming analyst-turned advisor Jason Ader spoke Wednesday afternoon on CNBC regarding the ugly proxy fight at IGT.
Ader is spearheading efforts to take control of the board.
“There is a limited amount of gaming expertise (within IGT),” Jason Ader said regarding the current board members.
Ader feels IGT shares are very undervalued.
“Gaming companies are less healthy but there is big demand,” he noted.
IGT’s current management told CNBC that Ader had “no plan”.
“We want to see the stock price much higher,” Ader said.
Spain, France Want Combined Liquidity of Online Poker Players
The European model for online poker may provide a glimpse into what will occur in the United States.
A handful of European nations attempted ring-fencing of Internet poker on a nation-by-nation basis. To date, that experiment has mostly failed, even in Italy where there was some initial success.
Zynga Shares Up Following Stronger-Than Expected Revenue Report
Shares in the social gaming company Zynga were up 2 percent Wednesday morning following the release of stronger-than-expected financial numbers for the final quarter of 2012.
The company’s loss narrowed after it laid off workers and closed underperforming offices. Revenues, however, remained mostly unchanged.
The results exceeded Wall Street's expectations with shares rising nearly 7 percent in after-hours trading Tuesday evening.
Betmaker Exchange Customers Moved to Bookmaker
Bookmaker has taken over all existing accounts of the US-facing online betting exchange Betmaker, it was announced on Tuesday.
All funds are safe and the transfer of accounts was expected to be seamless.
The Delaware Lottery to Begin Offering Online Gambling by Fall
The Delaware Lottery has announced plans to begin offering “real money” online gambling no later than September.
The request for online gambling noted:
“All proposed components of the Solution must be delivered, installed, implemented, acceptance tested and ready to be operational by the agreed-upon schedule.”
Record $98.9 Million Bet on 2013 Super Bowl in Nevada Casinos
LAS VEGAS (Associated Press) — Sports fans bet a record $98.9 million at Nevada casinos on the Super Bowl.
The Gaming Control Board says unaudited tallies show 183 sports books made $7.2 million on the action. The San Francisco 49ers started out as a 5-point favorite but the Baltimore Ravens won 34-31.
Atlantic Club Casino Head Urges Chris Christie to Sign Online Gambling Bill
The head of the Atlantic Club Casino in Atlantic City is urging New Jersey Governor Chris Christie to sign a bill legalizing online gambling in the state.
The Rational Group, which owns the world’s largest real money Web poker room PokerStars, has agreed to purchase the financially strapped casino for an undisclosed amount and have promised to create at least 100 new jobs at the property.
Steve Wynn Supports Mathewson in Bid to Overthrown IGT CEO Patti Hart
Casino mogul Steve Wynn has come to the defense of former IGT chairperson Charles Mathewson in a bid to regain a seat on the company’s board.
Gaming analyst-turned investor Jason Ader and Mathewson are currently embroiled in a proxy fight with IGT CEO Patti Hart.
The company blasted both men’s efforts in a letter to shareholders issued on Friday.
Nevada Sportsbooks Will See Profit From Super Bowl Despite Taking Big Hits
Another safety and the Ravens win combined to make for a not-so-great Super Bowl for the Nevada sportsbooks. Still, most anticipated making a small profit.
They are also hopeful about beating the 2006 record, when $94.5 million was wagered on the big game.
AsianLogic and TotelFootball Deal Brings Fantasy Football Betting to Asia
Fantasy Football in Asia? Yes, this phenomenon is spreading like wildfire it seems.
Fantasy sports pools betting provider Totel Football has secured a deal with leading land based and online gaming operator AsianLogic, which will see AsianLogic spearhead growth throughout the Asia-Pacific region.
