Business & Financial
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.
Back by popular demand - $50,000 up for grabs at BetOnline.ag
BetOnline.ag, running on the Chico Poker Network, are currently placed number 18 on Pokerscout.com in August 2104, making them the 2nd biggest US-facing brand right now.
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.
Even God May Not Be Able to Save Atlantic City: Employees Offer Prayers
ATLANTIC CITY, N.J. (Associated Press) — They've turned to politicians, bureaucrats, businessmen and union reps to try to save their jobs at three Atlantic City casinos scheduled to close soon. Now, hundreds of soon-to-be unemployed dealers, cocktail servers and hotel workers are turning to what many say could be their last, best chance.
"We're praying for God to open new doors to them," said the Rev. Eric McCoy, president of the Atlantic City Fellowship of Churches.
Plans for New Jersey Gambling Unveiled
(Associated Press) - Developments about the future of gambling in New Jersey came out of Atlantic City, Trenton and the Meadowlands on Tuesday.
— MEADOWLANDS CASINO ... AND MONORAIL
Business leaders laid out plans to transform the Meadowlands into a multi-venue entertainment district, with casinos, hotels, a convention center and even a monorail. Jim Kirkos, head of the Meadowlands Regional Chamber of Commerce, said the goal isn't to build a new Atlantic City. He and others say the upside is huge, given the millions of people within a short drive.
Taj Mahal, Ultimate Poker Rake in Just $26K for Month of July
Harsh reality is setting in for some online gambling firms currently operating out of New Jersey.
Sites overall accounted for $10.07 million during July with $7.92 million going towards casino games such as blackjack and slots and the rest towards online poker.
New York City Bookies – Manhattan Bookies – Queens, Brooklyn, Bronx and the Mob
New York City is the biggest city in the USA and one of the most visited in the world. It shouldn’t surprise anyone that bookies thrive here.
Revel Not Dead Yet: Still Seeks Sale While Losing $1 Mil a Week
CAMDEN, N.J. – (Associated Press) - The troubled Revel Casino Hotel in Atlantic City still hopes to auction off its property but needs to close to stop big losses, a lawyer for it said.
Attorney John Cunningham said in bankruptcy court Monday that the casino is losing more than $1 million every week, The Press of Atlantic City reported.
“Our earnest hope is that we will have a successful auction,” Cunningham said. “But it takes two to tango. … It may be [that] some of the dust has to settle from the shutdown.”
