World's online gaming authority since 1995

Sochi Gambling Zone Created to Offset Hosting 2014 Winter Olympics

Sochi gambling zone Russia Winter Olympics

A special Sochi gambling zone is being created by the Russian Federation to help the city offset the lingering debts incurred from hosting the 2014 Winter Olympics. Prime Minister Dmitry Medvedev signed the executive order in late August, and Sochi will be officially allowed to commence gambling activities in the coming months. Since 2009, gambling…Read More

GVC’s Profits Skyrocket in Wake of Bwin Acquisition

GVC’s Kenneth Alexander reports record profits

GVC this week reported record profits and that its Bwin assets, acquired at the beginning of the year, had already produced returns that were “far greater than expected.” Revenues for the enlarged company grew 8 percent to €432 million ($482 million) in the first half of the year, while pre-tax profits rose 135 per cent…Read More

Contractor or Employee? DFS Million Dollar DraftKings Winner Takes Some Heat

draftkings-al-zeidenfeld-1-million-millionaire-maker

DraftKings sponsored pro Al Zeidenfeld won the week two NFL “Millionaire Maker” contest on the DFS site last Sunday, and the win is creating a new pool of daily fantasy sports (DFS) skeptics. The $20 contest entry attracted 277,286 teams, for a prize of over $5.5 million. Zeidenfeld took the top spot by scoring 221.32…Read More

Bitcoin Is REAL Money After Major Ruling By Federal Judge

Bitcoin is money, says judge

Bitcoin is real money. That’s the opinion of U.S. District Judge Alison Nathan, who this week rejected the argument of a defendant who had argued that bitcoin did not qualify as “funds” under the federal law. Anthony Murgio is charged with two counts of money-laundering in relation to his operation of Coin.mx, an unlicensed bitcoin…Read More

Eldorado Resorts to Acquire Isle of Capri Casinos for $1.7 Billion

Eldorado Isle of Capri acquisition “transformational,” says Gary Carano.

Eldorado Resorts is set to buy Isle of Capri Casinos in a cash and paper deal worth around $1.7 billion. As part of that figure, Reno-based Eldorado will assume $929 million of Capri’s debts. The combined company will now own 20 properties in 10 states and would have generated roughly $1.8 billion in revenue over…Read More

Revel Atlantic City Rebrands, as Glenn Straub Names the Resort “TEN”

Revel Atlantic City TEN Glenn Straub

Revel Atlantic City is officially no more. The $2.4 billion resort that opened in 2012 only to close 29 months later got a new owner in 2015, and now it’s getting a new name. Glenn Straub, the real estate developer who paid $82 million for the bankrupt property, has revealed the Revel will be known…Read More

Caesars Private Equity Backers Must Show their Bank Statements, Rules Bankruptcy Judge

Caesars director Marc Rowan to disclose financial details

Caesars’ junior creditors have successfully forced the casino group’s controlling private equity backers to reveal details of their wealth. The request was granted on Wednesday by the judge presiding over the $18 billion dollar bankruptcy of Caesars’ main operating unit, Caesars Operating Entertainment Corp (CEOC). “These folks are going to have to pony up the…Read More

David Baazov’s Lawyer Grills AMF, Claims Regulator’s Case Is Full of Holes

david-baazov-lawyer-sophie-melchers-amf-case

Former Amaya CEO David Baazov’s ongoing insider trading case received a two-day independent administrative hearing this week in Montreal, and it brought up some strange twists and turns, however you look at it. In hearings this week, which none of the accused were required to attend, Baazov’s lawyer Sophie Melchers, questioned AMF investigators for the first…Read More

Potential Las Vegas NFL Stadium Receives $750 Million in Public Funding

Las Vegas NFL stadium Sheldon Adelson Mark Davis

The Las Vegas NFL stadium being proposed by billionaire Sheldon Adelson and Oakland Raiders owner Mark Davis received a critical vote in its favor this week. On September 15, the Southern Nevada Tourism Infrastructure Committee (SNTIC) voted unanimously to provide the football stadium project with up to $750 million in public funding. Davis has already…Read More

Online Betting To Top One Trillion Dollars by 2021, Driven by Mobile and VR

Trillion dollars to be bet on online gambling by 2021

The online gambling industry will process almost $1,000,000,000,000 (one trillion dollars) in bets per year by 2021, according to a whitepaper published this week by analyst Juniper Research. That equates to a 42 percent increase on the $550 billion expected this year. The surge will be driven by the increasing power of the mobile technology…Read More

DOJ and FinCEN Wag Fingers at Casinos Over Bank Secrecy Act Violations

casinos-fincen-doj-bank-secrecy-act

Casinos, you’ve been warned. During this week’s Casino Essentials’ 9th Annual AML Conference in Las Vegas, the Department of Justice (DOJ) and Financial Crimes Enforcement Network (FinCEN) issued a stern warning to commercial institutions that knowingly disobey banking laws. “Casinos and card clubs often provide numerous financial services to their customers, including check cashing, currency…Read More

Japanese Casino Bill Regains Momentum

Japan’s casino bill back on the agenda with support from Prime Minister Shinzo Abe.

Japan, the Sleeping Giant of casino gaming, is once again considering legalizing casinos, opening up a market that could be the second biggest in the world after Macau, according to analysts. Japan came very close to legalizing casinos in 2014, when it was said that the market could be worth $40 billion a year, although…Read More

Pro-New Jersey Casino Expansion Ad Highlights “Financial Cost” of Referendum Vote

Paul Fireman supports New Jersey casino expansion

Supporters of New Jersey’s northern casino expansion proposal have launched a new TV ad campaign emphasizing the billions of dollars in potential revenue lost to the casino expansion of neighboring states. It highlights the resulting loss of funding for programs aimed at helping senior citizens and the disabled. OUR Turn NJ, the public issue advocacy group…Read More

Parisian Macau Casino Resort Opens Tonight

Parisian Macao opening night tonight

Sheldon Adelson’s lavish $2.7 billion casino resort on Macau’s Cotai Strip, the Parisian Macau, opens tonight, complete with 3,000 rooms, hundreds of shops, a theater, a water park and an obligatory half-sized Eiffel Tower replica. Around 500 journalists descended on the gambling hub for the opening night, most of them from publications based in mainland…Read More

Carl Icahn Files Closing Paperwork for Trump Taj Mahal

Carl Icahn Trump Taj Mahal closing

Carl Icahn wasn’t joking about closing the Trump Taj Mahal casino in Atlantic City. Icahn will be chalking up the “investment” as a $100 million loss. Thousands of jobs will be lost and the livelihoods of many families will be thrust into jeopardy. Members of the Unite Here Local 54 union walked off the job…Read More