Business & Financial
Amicus Brief Filed By Bitcoin Foundation in Miami Criminal Case
The Bitcoin Foundation announced Thursday afternoon that they have filed an amicus brief with respect to a criminal case surrounding bitcoin transactions in the state of Florida and more specifically a case involving two subjects arrested last February in Miami Beach.
Paddy Power Suffers Massive Data Breach: More Than 649,000 Customers Compromised
More than 649,000 customers of the UK’s third largest bookmaker, Paddy Power, have had their personal information stolen, it was revealed on Thursday. Of those, approximately 120,000 are based in Ireland.
No customers who signed up after 2010 are impacted by the breach.
Global Gaming Expo 2014 to Feature Sheldon Adelson, Steve Wynn
The Global Gaming Expo 2014 to be held in Las Vegas Tuesday September 30 thru October 2 will feature the likes of casino giants Sheldon Adelson, Chairperson of Las Vegas Sands Corp, Steve Wynn, Head of Wynn Resorts, and Jim Murren, Chairman and CEO of MGM Resorts International.
Others confirmed for the world’s biggest gaming event include Patti Hart, CEO of IGT, Jamie Odell, CEO of Aristocrat Leisure Limited, David Baazov, CEO of Amaya and James Allen, CEO of Seminole Gaming and Chairman of Hard Rock International.
How the Giants and other Brands approach Consumer PR
One of the best ways to connect with your customer base is to put a relatable face on your franchise. This is even more impactful in entertainment sports such as NFL football. Sure, in most cases, the quarterback will be the face of the franchise, but there is almost always another player who is also out there, and also relatable to the market. A player that more fans can see themselves as, or at least see themselves as friends of.
John McCain Introduces Legislation to Block Arizona Casino Project
PHOENIX (Associated Press) -- Arizona's two U.S. senators are proposing legislation to block construction of a Phoenix-area casino planned by a southern Arizona tribe.
If enacted, the bill introduced Monday by Republicans John McCain and Jeff Flake would block the casino resort project planned by the Tohono O'odham Nation for a site on unincorporated land adjacent to Glendale.
The senators said in an announcement that their bill is a companion measure to House legislation approved by that chamber and sponsored by Arizona Republican Rep. Trent Franks.
Southern California Bookies: Los Angeles, San Diego
Southern California bookies can stand to make some serious coin thanks to the wealthy clientele that place wagers in this region from San Diego up to Los Angeles and the cities in between.
Top sports teams from this region with significant fan bases include the likes of the San Diego Chargers, UCLA Bruins and both the LA Lakers and Clippers. There is also the USC Trojans, who are among the top 10 teams with the shortest odds to win the College Football Championship. Both the University of Southern California and UCLA are located in Los Angeles.
Numis: William Hill, Paddy Power Should Merge
Broker Numis on Monday suggested that two of the UK’s biggest bookmakers should merge in an effort to offset negative regulatory changes.
“This would create a much more attractive investment than either alone,” Numis said.
“Taking the best from each company would result in a business with outstanding technology and marketing. Plus, we really like Will Power as a name for the company.”
State Senator Will Attempt to Get Around Sports Betting Ban in New Jersey
New Jersey State Senator Raymond Lesniak (D-Union) will attempt to get around a sports betting ban by pushing through legislation with strong bipartisan support in hopes that Governor Chris Christie signs the bill into law.
Christie has long supported the legalization of sports betting in New Jersey but the professional sports leagues and NCAA successfully blocked such efforts in the court.
From the Newark Star Ledger:
Louisiana Bookies: New Orleans, Baton Rouge, Lafayette and the Slippery Slope
Louisiana bookies have been an endangered species in recent years. During the year 2008 alone over 100 bookies were rounded up across the state.
Regulators Approve $100k Fine Against Aria Casino for Shoeing Away Agents
LAS VEGAS — Regulators have approved a $100,000 fine for the Aria casino on the Las Vegas Strip after state agents said they were shooed away from a high-stakes roulette table.
The Las Vegas Review-Journal reports (http://bit.ly/1Ad7H83) twwhe Nevada Gaming Commission approved the settlement with the resort on Thursday.
Nevada Gaming Revenue Up 22 Percent
LAS VEGAS (Associated Press) -- Nevada officials say casino revenues shot up more than 14 percent in June thanks to a banner month on the Las Vegas Strip.
The state Gaming Control Board reported Friday that Nevada casinos brought in about $907 million in June.
Las Vegas Strip casinos pulled in $532 million in June, up more than 22 percent from the same month a year ago. Downtown Las Vegas casino revenues of $41million were up 12 percent.
Showboat Casino Employees Protest Closing
ATLANTIC CITY – (Associated Press) - Chanting “Keep Showboat open,” hundreds of casino workers and supporters staged a noisy, enthusiastic protest Thursday night on the Atlantic City Boardwalk aimed at getting the owners of the Showboat Casino Hotel to reverse their decision to close it next month.
More than 400 protesters marched from a small park near the Boardwalk to Caesars Atlantic City, where a small group met with a labor attorney for the parent company that owns both casinos.
5Dimes Becomes Latest Online Sportsbook to Accept Bitcoin
Popular 5Dimes.com, a US-facing online sportsbook, has become the latest to embrace the anonymous digital currency bitcoin.
5Dimes began accepting bitcoin deposits early this month but withdrawals via this method will be unavailable for the foreseeable future.
Bitcoin will be converted into US currency at the time of deposit as, as such, customers will not be exposed to fluctuations in bitcoin’s exchange rate.
Over the past month, bitcoin has traded slightly above $600 on average across the various exchanges.
Matchbook.com Exits Canada Market for Unknown Reasons
Canadian customers of the sports betting exchange Matchbook.com have been advised that they must withdraw all funds from their accounts by August 22 (2014).
The decision was made on Wednesday (July 23) to exit the Canadian market though rumors began swirling earlier in the week. A reason for the departure was not immediately known.
Revel Casino has Six Potential Buyers: May Avert Closure
ATLANTIC CITY, N.J. (Associated Press) - Atlantic City's mayor said Wednesday there are six potential buyers for the Revel Casino Hotel, which is up for sale next month at a bankruptcy auction.
Don Guardian also said his administration has been in talks with the current owners of the former Atlantic Club casino about selling it to a new buyer.
Satoshi Poker Closes: Players Migrated to BurnTurn Amidst ‘Blame Game’
Satoshi Poker unceremoniously shut its doors after just over one year in business and it has done so amidst much finger pointing.
One of the first bitcoin-only poker sites, Satoshi sold to new owners last month, however, this group plans to abandon the Satoshi Poker software in favor of their own including the migration of all remaining players to BurnTurn.com, a soon-to-open online poker room.
Fuggedaboutit Jason Ader: Four Reasons Why Vegas Won’t Get an MLS Team
As reported by Gambling911.com during the early morning hours of Wednesday, Bwin.party activist investor Jason Ader has announced his plans to bring a Major League Soccer franchise to Sin City.
Mississippi Gambling Revenue Steady After Harrah’s Closure
JACKSON, Miss. (Associated Press) - Gambling revenues tumbled in Mississippi's river region in the first month after Harrah's Tunica Hotel & Casino closed, but the trend didn't worsen much. Meanwhile, Gulf Coast casinos posted their best June in years.
State figures show casinos statewide won $174 million from gamblers in June, up less than 1 percent from June 2013.
The 18 river casinos won $78.7 million, down 12 percent from a year earlier. The 12 coastal casinos won $95.7 million, up 13 percent from June 2013.
’Girls Gone Wild’ Founder Joe Francis Slapped With $5k Daily Fine
The founder of the raucous and salacious DVD franchise “Girls Gone Wild” has been ordered to pay a $5000 fine each day he fails to return two luxury automobiles.
Joe Francis claims he no longer has the vehicles and that they were taken by an angry Mexican businessman.
Bwin Activist Investor Jason Ader Wants to Bring Major League Soccer Team to Vegas
An activist investor at one of the world’s largest online gambling firms Bwin.party is floating the idea of bringing a Major League Soccer team to the gambling Mecca of Las Vegas.
Jeter ‘RE2PECT’ Commercial is Top Shelf Viral PR
These days, YouTube “commercials” are commonplace. Advertisers are waking up to the reality that one viral video with relatively low overhead can have more expansive and long-term impact than a multi-million-dollar TV spot.
9 Biggest Screw-ups in Bitcoin History
With more and more online gambling sites popping up that incorporate the anonymous digital currency bitcoin, CoinDesk.com featured an interesting piece Monday that unveils nine of the biggest screw-ups in bitcoin’s short – and some would say shaky – history.
As you can see, these aren’t just simple screw-ups.
Sands Sees Slower Than Expected Earnings: Shares Sent Reeling
Sands Las Vegas reported slower-than-expected revenue growth from its Macau operations resulting in second-quarter adjusted earnings that were $0.04 below the consensus of $0.89.
Sands traded recently at $73.02, down about one percent.
The casino company’s competitors shares were adversely affected as a result of the poor performance.
Wynn Resorts was down 1.4 percent Thursday. Wynn is expected to post second-quarter earnings in August of $1.97 per share on revenue of $1.44 billion.
Melco Crown Entertainment was also down 1.4 percent.
Online Poker Comes to California Courtesy of Iipay Nation
Forget waiting around another 10 years for online poker to become legalized in the world’s 8th largest economy. One California Tribe is moving ahead, with or without legislation.
The Iipay Nation of Santa Ysabel established Santa Ysabel Interactive and launched the I-gaming poker website Private Table at www.privatetable.com to offer Class II gaming to customers through Internet servers located on tribal lands, according to a press release issued by that Tribe.
The Isle of Man Is Becoming Cryptocurrency Hotspot
Crypto Next plc is an Isle of Man company that wants to bring digital currencies to grassroots level by providing turn-key packages that include a company, operating and trading accounts and white label currency exchange platform, instantly overcoming regulatory and technological barriers.
Crypto Next plc is the second cryptocurrency company to launch in the Isle of Man, where the Government has openly welcomed digital currency companies; a development which is attracting cryptocurrency based businesses since the announcement on the 10th June 2014.
Bwin to Make Additional Cuts of More Than $13.6 Million to Meet Targets
(Reuters) - Online gambling company Bwin.Party, under pressure from an activist shareholder to boost its performance, said an additional 10 million euros ($13.6 million) of cost cuts would help it to meet its targets for the year.
Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business.
In a trading statement on Tuesday, bwin said sports betting had benefited from the soccer World Cup but described the performance of its poker and casino business as "soft".
You’re Fired! 1000 Employees at Trump Plaza Get Pink Slips
(Reuters) - Layoff notices went out on Monday for roughly 1,000 employees of Atlantic City's Trump Plaza Casino Hotel, in anticipation of a Sept. 16 closure, the company said in a statement.
The pink slips came as the company that owns the casino, Trump Entertainment Resorts, has begun "reviewing alternatives for the property," the company statement said.
Another One Bites the Dust: Trump Plaza Latest AC Casino to Close
They are falling like dominoes. Yet another Atlantic City has announced its intention to shut down. This time it’s the Trump Plaza.
Trump Entertainment Resorts told The Associated Press that no final decision has been made on the Boardwalk casino. But the company said it expects the casino to close its doors on Sept. 16, immediately following the busy summer season.
Industry observers had predicted that the seaside gambling resort could lose as much as one quarter of its casino properties by year’s end.
Las Vegas Sands Sued for $5 Billion: Accused of Misappropriating Funds
HONG KONG — (Reuters) A former Macau business partner of Las Vegas Sands Corp. accused the casino operator of misappropriating trade secrets and is suing the company for at least $5 billion in profits that it says are owed via their joint ownership of copyright related to a casino license bid.
Asian American, headed by Taiwanese businessman Marshall Hao, filed the complaint in U.S. District Court in Nevada on Wednesday. The case is in addition to two separate, ongoing legal actions in Macau over an alleged breach of contract.
Ultimate Poker Leaving New Jersey Market?
It’s no secret that online poker in the state of New Jersey has underperformed.
Ultimate Poker, one of a handful of online gambling firms licensed by the New Jersey Gaming Commission, announced on Friday September 19, 2014 it would be leaving the New Jersey online gambling market after the Taj Mahal announced pending bankruptcy.
Robert Dellafav of OnlinePokerReport.com predicted the exit earlier this summer.
