Gambling Companies
Gambling Companies, Gambling Stocks
Breaking News: New Jersey Suspends Review of PokerStars
In a major blow to the world’s largest online poker firm, the New Jersey Division of Gaming Enforcement has suspended the review of PokerStars application for an online gambling license for two years.
Tribes Set to Begin Offering Online Gambling, Some to Target Most US States
Some of the 240 Indian tribes in the U.S. are eager for a piece of that market, writes Pamela M. Prah of PewStates.org
The tribal online gambling efforts might exceed those at the state level where only three states have so far legalized Web gambling: Nevada, New Jersey and tiny Delaware.
Prah notes:
MGM Approved to Operate Casino in Massachusetts
BOSTON — (Associated Press) - The investigative arm of the state gambling commission recommended on Monday that MGM Resorts be found suitable to proceed with a bid for a casino in downtown Springfield, provided company officials adequately explain to the five-member commission several concerns raised during a lengthy background check.
The Bureau of Investigations and Enforcement said its 10-month review did not find any factors that would disqualify MGM from doing business in Massachusetts.
Taxman Catches Up With British Bookmakers
LONDON - (Reuters) - Bookmakers are preparing for a tax avoidance crackdown on online gambling in Britain that will cost the industry 300 million pounds ($490 million) a year, putting a brake on the fastest growing part of their businesses.
Many bookmakers have set up internet operations in territories such as Gibraltar, allowing them to sign up British gamblers while benefiting from benign local tax regimes.
Bitcoin Endorsed by Wall Street, Dissed by China
The anonymous virtual currency Bitcoin has received an endorsement from Wall Street powerhouse bank, that being Bank of America.
Caesars: Online Bets Might Hurt Land-Based Casinos
ATLANTIC CITY, N.J. (Associated Press) — The world's largest casino company is cautioning investors that Internet gambling might hurt rather than help its brick-and-mortar casinos.
Caesars Entertainment, which owns four of Atlantic City's 12 casinos, wrote in a filing with securities regulators late Wednesday that online gambling could reduce patron visits to its casinos in New Jersey and Nevada, and harm the company's bottom line.
Online Gambling Glitches in New Jersey Persist
More than a week after online gambling began in New Jersey, casinos and their partners are still struggling to verify the location of people who want to play on the new websites, Ryan Hutchins of the Newark Star Ledger reports.
Sure it’s not the same disaster as – let’s say the Obamacare website rollout – but there are glitches nonetheless.
Online Gambling Firm Paddy Power Sending Dennis Rodman Back to North Korea
Irish online gambling company Paddy Power is sending retired NBA star Dennis Rodman back to North Korea to help coach the national basketball team there.
He'll spend several days helping train the North Korean basketball team, which will play at least one exhibition game against former NBA players in January, according to the company. Paddy Power sponsored Rodman’s last trip to the aptly titled “Hermit Kingdom” and this time will be shooting a documentary on the event.
New App Bravo Poker Live Shows Casino Waiting Times
An ingenious new app lets gamblers know the various casino waiting times. The free iOS and Android app is called Bravo Poker Live and has all the makings of a huge hit.
Legal Online Bingo Site Luckity.com Opens to US Customers a la Churchill Downs
Now US players can enjoy online bingo from the comforts of their own home thanks to Luckity.com, a legal US-based website that comes to us courtesy of Churchill Downs, home of the Kentucky Derby.
The online bingo industry has changed dramatically in the few past years thanks to the 2007 smoking ban in bingo halls. Due to this ban, many took their bingo games online, with reports showing an 80 percent increase in the number of online bingo players.
Delaware Considers Gambling Expansion
DOVER, Del. (Associated Press) - Members of a state panel looking at Delaware's gambling industry amid increasing competition from neighboring states is reviewing a report on the feasibility of allowing more casinos in Delaware.
Lawmakers established the lottery and gaming commission earlier this year to examine the competitive marketplace facing Delaware's gambling industry. The panel, which meets Wednesday at Legislative Hall, is facing a Jan. 31 deadline for reporting its findings and recommendations to the governor and General Assembly.
Bet on Real Financial Data With TradeFight.com
TradeFight.com is a new social gaming site that allows its players to challenge one another in the live financial market with $1000 in virtual cash.
Here’s how it works:
Atlantic City Showboat Casino Fined for Unshuffled Cards
ATLANTIC CITY, N.J. (Associated Press) - New Jersey's top casino regulator has fined the Showboat casino hotel $7,000 for playing games with unshuffled cards, and violating rules regarding the money counting room.
State Gaming Enforcement director David Rebuck issued the fines Nov. 25. They were made public this week.
The casino declined comment.
Pennsylvania Wants a Piece of Online Gambling Industry
Following the huge success with the launch of legalized online gambling in the state of New Jersey, neighboring Pennsylvania now wants a piece of the pie.
And why not? After all, it is PA that is responsible for stealing away much of New Jersey’s brick and mortar gambling market.
Proponents of legalized Web gambling in the US were hoping for a domino effect and it appears that is about to happen.
Betfair Share Price Up on Strong Earnings Report and News of Expansion Plan
Betfair, the largest online betting exchange in Europe, has seen its shares rise more than 3 percent on Tuesday following news of its pre-tax profit for the past six months soaring 56 percent year-on-year to £32.5 million. This is welcome news for a company that has widely been viewed as “stagnant” over the years.
Betfair’s share price rose 3.8 percent to £10.69 as of 13:08 UTC.
The company went public in 2010 but its share price fell from the £13 level in which it was floated.
Players Flock to New Jersey Internet Gambling
(Associated Press) - The first week of Internet gambling in New Jersey went well, according to the state's top casino regulator, who says he finally stopped worrying about it.
"I'm pleasantly pleased," said David Rebuck, director of the state Division of Gaming Enforcement. "I'm also very tired because for the last seven days, all I've been doing is worrying this was going to crash."
It didn't.
Web Gambling Won’t Help NJ Credit Rating Much: Christie Still Predicts $1 Bil by July
New Jersey Governor Chris Christie came under heat for claiming that online gambling will bring in some $1 billion to the Garden State. Industry analysts have since said that Christie grossly overestimated the amount that would be generated.
But the outspoken Governor is standing by his original prediction.
“Same as they were before,” Christie said during a press conference when asked about his generous estimate.
Use of Credit Cards for Legalized Online Gambling Sites in US Encounter High Failure Rate
Global Gaming Business Magazine released an interesting report a few days back highlighting the challenges of legalized online gambling sites in the US ability to process payments.
“Without the top banks supporting iGaming, we cannot be successful as an industry,” says Tim Richards, manager of interactive solutions at Global Cash Access, in an interview with the industry trade publication.
From Global Gaming Business:
Macau Revenue Jumps an Impressive 21 Percent in November
HONG KONG - (Reuters) - Gambling revenue in the southern Chinese territory of Macau jumped 21.3 percent on year in November after events including an international boxing match and annual Grand Prix motor race led to an increase in high-spending visitors.
China's only legal casino hub is one of the world's fastest-growing economies thanks to the gambling industry, earning most of its income from visitors from nearby Chinese provinces such as Guangdong.
Cantor Gaming Enters China Market With Lottery
LAS VEGAS (Associated Press) — Cantor Gaming is the latest Las Vegas-based gambling company to move into the Chinese market.
The sports betting and mobile gambling company announced this week that it will help operate a lottery club in the large northern city of Tianjin, along with partners Global Entertainment Investment & Management Co. and the Tianjin Welfare Lottery club.
Cantor will provide infrastructure and technological know-how, and will allow the club to offer wireless wagering, as opposed to paper-based betting.
Deadwood Casino to Appeal Unprecedented Punishment
DEADWOOD, S.D. (Associated Press) — Owners of the Four Aces Casino in Deadwood say they plan to appeal to circuit court an unprecedented $25,000 fine and a 15-day suspension of the business’s gambling license.
South Dakota’s Commission on Gaming says the casino has repeatedly failed to provide accurate, complete and legible revenue reports, dating to 2008. The license suspension takes effect Monday.
Commission Executive Secretary Larry Eliason has said it is the largest penalty he can remember in his nearly two decades with the commission.
PartyPoker New Jersey to Become 5th Largest Online Poker Room in US
With an average of just over 350 real money players online, PartyPoker was destined to become the United States’ 5th largest online poker room after Bodog, Winning, Chico and Merge according to stats obtained by traffic monitoring website PokerScout.com.
17,000 Bet During New Jersey Internet Gambling Test: PartyPoker Ads Everywhere
The numbers are in and they are pretty good. A grand total of approximately 17,000 people took advantage of a five-day test period to kick off real money Internet gambling in New Jersey. An average of 3000 new users signed on each of the days.
Nevada Gaming Revenues Down in October
CARSON CITY, Nevada — (Associated Press) - Nevada gambling revenues are down 2.6 percent in October compared with a year earlier.
Officials from the Nevada Gaming Control Board say Wednesday that the state's casinos brought in $954 million last month.
Las Vegas Strip winnings of $551 million were down 5 percent from the same month last year, while downtown Las Vegas revenues of $47 million were down 3 percent.
Reno casinos saw their winnings drop 1 percent to $43 million. South Lake Tahoe saw revenue fall 23 percent to $12 million in October.
WSOP.com to Host New Jersey Online Championships Tournament Series
Fresh off its real money online gambling kickoff in the Garden State, WSOP.com has announced its New Jersey Online Championships Tournament Series available to those either living or visiting the state.
The event will culminate with the $250,000 WSOP.com Online Championship Freeroll.
Steve Wynn Calls US Efforts to Stymie Online Gambling Like That of Prohibition (Video)
Vegas casino tycoon Steve Wynn spoke this week about the launch of Internet gambling in New Jersey and compared the US Government’s attempts to quash the activity to that of prohibition in the 1920’s and 1930’s.
“I’m not sure as I stand here where online gaming is going,” Wynn said. “Within the state of New Jersey it’s legal. Its status in America is much in doubt," Wynn acknowledged.
Bodog Raid Before and After: Typhoon Yolanda Relief Supplies Gone
Much controversy arose late Tuesday following news released by Gambling911.com that law enforcement allegedly confiscated relief supplies for victims of Typhoon Yolanda during a 5-hour raid of online gambling firm Bodog’s Manila, Philippines office last week.
Photos obtained exclusively by Gambling911.com show the Bodog office before it was raided, then the ransacked office immediately following the raid.
Six Casinos Get Green Light to Operate in New Jersey
ATLANTIC CITY, N.J. (Associated Press) - New Jersey gambling regulators gave six casinos the green light to offer Internet gambling statewide on Monday.
The state Division of Gaming Enforcement's decision, which came after more than four days of testing the technology involved in online betting and making sure gamblers are within New Jersey, allows the state to join Nevada and Delaware as the only ones offering Internet gambling. It authorized six of the seven casinos that hold Internet gambling permits to immediately offer online gambling throughout New Jersey.
New Jersey's New Internet Gambling Era Has A Lot Of People Very Excited
ATLANTIC CITY, N.J. (Associated Press) — Some were locked out by software that didn't believe they were in New Jersey. Others had their credit cards rejected, their Social Security numbers questioned and their utility bills requested.
But despite the initial glitches as New Jersey's Internet gambling era got underway last week, many gamblers say they're optimistic the kinks will get worked out and the fledgling industry will take off as online gambling gets opened up to the entire state as soon as Tuesday.
Report: Gamblers in 23 Other States Tried to Play With Online Sites in NJ
ATLANTIC CITY, N.J. (Associated Press) — Would-be gamblers from at least 23 states tried to log onto casino gambling websites in the first night of New Jersey's test of online betting.
