Gambling News
Want to know what is going on in the gambling industry? We got the leading edge, delivering inside stories on land based and online casinos. Be in the know with local and international news that are making headlines.
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Preemptive Strike on the UIGEA Rules by Barney Frank
With only about six weeks left before the UIGEA rules go into effect, Rep. Barney Frank, is finally picking the ball back up. Rep. -
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Gambling News
Revenue from US Casinos Slips for Third Quarter
This shows all of us just how bad the economy has gotten. I think at times the government does not want us to know everything, and I am sure they don’t. This article from the Associated Press scares me. It should wake us up as to just how bad things are. LAS VEGAS – LAS VEGAS (AP) — U.S.
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UIGEA Deadline Is Approaching
Looks like the time is coming for an impossible law to come into effect that will put terrible hardships on banks in this country! We are hoping it will get postponed, but time is getting short. In a couple of weeks financial institutions will be obligated to abide by the UIGEA regulations.
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New Slots Casino Making a Splash
With all the regulations to be met and followed, all the banking decision that need to be made and all the competition to be faced, it is no small feat to open a successful online casino. The new casino is making quite a ruckus in the online casino world right now. Crazy Slots Online Casino, part of the Golden Casino Group, is one of the few casinos that allow U.S. gamblers to play. Golden Casino is operated by Vegas Technology.
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Firepay Pays $19.2 Million
With the forfeiture of $19.2 million by Firepay, owned by Optimal group inc. of Canada, the New York District Attorneys office is poised to go after more gaming companies that did business in the U.S. even before UIGEA became law.Firepay had withdrawn from online gambling in the United States after UIGEA was enacted in October 2006. But the State of New York saw dollar signs and in 2007, started building a case against Firepay.
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Regulation to Replace Failed Internet Gambling Prohibition
Things are beginning to look up for the online gambling businesses. More and more are leaning to license and regulate the online gambling industry in the US! In an op-ed published in today’s Roll Call, Rep. Jared Polis (D-CO) argues regulating Internet gambling in order to protect consumers and generate up to $42 billion in new revenue is a “sensible approach.” Based on his experience of having started and managed several Internet-based companies, Rep.
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Gary Kaplan BetOnSports Founder Gets 51 Months
For anyone who has harbored any doubts whatsoever about the health of Big Brother, trust me, he is alive and doing very well. Point in fact: On Monday, Gary Kaplan, founder of BetOnSports, was sentenced to 51 months in prison on charges of federal racketeering. He had been arrested on 20 felony charges in March of 2007 in the Dominican Republic. Those charges were for allowing American residents to place bets at BetOnSports.
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Ohio Finally Opens Doors to Casinos
This is a huge win for the Ohio people who have been pushing for casinos. This may be the start of a new future for more states and Casinos! COLUMBUS, Ohio (AP) — Ohio voters hit hard by the economic downturn have approved casinos tied to new JOBs after a fifth try by gambling supporters in the past two decades. Tuesday’s passage of Issue 3 marked a significant victory for Penn National Gaming Inc.
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GoWild Casino Completes New State of Art Website
GoWild is proud to announce the completion of their state of the art website. We are all looking forward to seeing this new site.
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Battered Ohio in the Casino Bid Recession
On Tuesday, history may be made in the State of Ohio. On Tuesday, voters are going to the polls to decide, among others important issues, whether or not to allow gambling casinos to come into their state. The large casino companies have been trying to get into Ohio nearly every year since 1900, but have always failed. This is the fifth time in the last nineteen years that the measure has been on the ballot.
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First State-to-State Wide Area Progressive Gaming
This is a network linking Indian Casinos Nationwide! LAS VEGAS, NV, Oct 28, 2009 (MARKETWIRE via COMTEX) — ATIG | Quote | Atlantis Internet Group Corp. (PINKSHEETS: ATIG | Quote | announced today that it would launch the nation’s first intertribal, state-to-state, wide-area progressive gaming network linking Indian Casinos nationwide. Progressive gaming means that a percentage of the money played by each player in any of the casinos in the network is added to a combined jackpot.
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Can They Raise the Stakes In Atlantic City?
Atlantic City… the name brings to mind images of glistening casinos, bright light and never ending excitement. A few years ago, that image would have been true. Today, however, is another day. Fortunes have changed and the gaming machines stand silent, and one casino, Harrah’s, is offering to send their frequent gamblers out west to Las Vegas.
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Preemptive Strike on UIGEA Rules Launched by Barney Frank
I am sure all the banks and financial institutes are awaiting the decision on this one. The big day is quickly approaching to start the implementing of the UIGEA rules. Representative Frank has put his attention back on this after all the other urgent matters that had to be put first.Frank along with 18 others sent a formal letter of request to Timothy Geithner, the Treasury Secretary and to Ben Bernanke, the Federal Reserve Chairman.
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Dikshit is Selling PartyGaming Shares
Makes you wonder if he is doing this to pay off his debt to the US Treasury. Maybe he thinks this will lighten his sentence. We will see what happens. LONDON, England — As reported by Bloomberg: “PartyGaming Plc founder Anurag Dikshit will sell up to 75 million shares in the company through his Crystal Ventures Ltd.
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More and More States are Betting on Gambling to Boost Economy
With more states are opening up to the idea of gambling as a way to help with the economy.
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Land Based Gambling Shifting to Online?
This is a question that land based casinos are asking themselves, especially since Vegas saw revenues drop for the twentieth month in a row. October 14, 2009 (CAP Newswire) — Bad news disguised as good news? Reports continue that the status of land-based casinos, particularly in U.S. gambling mecca Las Vegas, are continuing to plummet. In August alone, the casinos dropped 9.3 percent in revenue, representing the 20th straight month of losses.
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Shares Plunge in Macau Gaming
The government of Macau has caused the financial world a mild heart attack. They have announced that they were going to raise the minimum entry and employment age for the casinos from 18 to 21. They also announced a cap to the total number of gaming tables in Macau and also relocated slot machines to commercial areas. By the middle of this year, there were 4390 gaming tables in Macau.
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Could This be Bad News For Industry From China?
The economic turndown in the world economy has hit everyone, including the gaming industry. In Las Vegas, convention business was down 30.2 percent for the past year. Visitors to Vegas were down 3.7 percent, for 15 consecutive months for falling numbers. Room occupancy was down 6.2 percent for the last year.
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Progressive Jackpot Major Millions Hitting Below Normal
The big question on the minds of progressive jackpot online slot game high rollers is: are recent events just an aberration or is it a changing in the game. Two of Microgaming’s biggest online PJP slots have recently been hit for far less than their normal averages. The two games hit this month are Major Millions and Mega Moolah.Major Millions hit a few days ago for just over $300,000.
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France’s National Assembly Passes Bill That Forces to Re Register Players
France has passed a new amendment to their law regulating online gaming which goes into effect next year. It forces online gaming operators to close out the accounts of their French players when the law takes effect. They will then have to apply for a license to open new accounts for French players 5 to 6 months later in May or June of 2010.
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Sports Minister from Poland Quits In Middle of Gambling Law Inquiry
Miroslaw Drzewiecki, Sports Minister of Poland, resigned his position Monday amid allegations of corruption. His name was mentioned in transcripts in connection to an anticorruption investigation. He is alleged to have tried to use his influence to help pass a new gambling law benefiting the gambling industry. The transcripts were of recorded conversations between a member of parliament and the owners of gambling companies.
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Millions Spent by Casinos for Big Losers Feel Like Winners
Now when you read this you will say “Now does this help people with problem gambling?” I really do not see how. By rewarding an addict is not helping them. I think they should try to help these players instead or rewarding them. Recently, a gambler in Canada reportedly lost $1.2 million in a gambling spree that lasted less than 2 years.
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Barney Frank and Other Members Ask for Delay Implementing UIGEA Laws
This letter was sent to the Treasury Secretary asking the to postpone the implementation of the UIGEA Laws. We give another big thumbs up for Mr. Frank and his stand with us on the UIGEA and the enforcement of this impossible law. Washington, DC – Financial Services Committee Chairman Barney Frank (D-MA), Homeland Security Committee Ranking Member Peter King (R-NY), Financial Institutions Subcommittee Chairman Luis V.
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David Carruthers Changes Guilty Plea
This makes all of us wonder why he pled guilty in the first place.
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Online Gambling Legislation Will Fail Says Some Experts
Our government at work, it is a glorious and wondrous sight. Health care reform, probably. Economic overhaul, sure. Internet gambling regulation and legalization, many experts say not likely. Tony Cabot, former President of the International Masters of Gaming Law Association, says that with all the other work before congress, it is unlikely that gaming reform, with its small economic footprint, will be given any consideration. Internet gambling is not going to be a high priority.
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Internet Gambling Revenue to Help Fund Health Care Reform?
This was sent out today from Safe and Secure Internet Gambling Initiative.
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Owner of Lucky 18 Casino Arrested in Israel
Hold on to your socks, the wars against online gaming are spreading far and wide. On Thursday night, Asi Vaknin, Naftali Goldman, and Yonatan Grimberg were arrested in Israel by detectives from the police International and Serious Crimes division. They are suspected of money laundering and Vaknin is also suspected of making threats.
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Problem Gambling Expert Says Online Casino Banning Not the Answer
Carol O’Hare who is the director of the Nevada Council on Problem Gambling stated THAT BANNING ONLINE GAMBLING IS NOT THE ANSWER.
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Gary Kaplan Pleads Guilty
Score one for the U.S Government’s persecution of its citizens. On Friday, Gary Kaplan, founder of BetOnSports.com pled guilty to racketeering conspiracy, violating the Wire Wager Act, and conspiring to violate the Wire Wager Act. With his guilty plea, all other charges were dropped. As part of the deal, he forfeits $43.6 million in illegally obtained monies from his illegal operations.
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Drop the Ban on Online Poker
There is a debate today both in congress and across this great country of ours, about just what is poker playing? Is it gambling, as the government wants to say? Or is it a game of skill, mathematics and strategic thinking? In 2006, congress outlawed internet gambling by making it illegal for banks and credit card companies to handle or process payments made to online gambling sites. As if that were not enough, congress made itself several loop holes.
