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Teddy Sagi Slashes Stake in Playtech, Ceding Control While Cashing Out

Teddy Sagi, founder of Playtech

Israeli Billionaire Teddy Sagi sold $430 million worth of shares in the online gaming software giant Playtech on Tuesday, giving up his majority stake in the company he founded in 1999. The sell-off caused Playtech’s shares to tumble nearly 3.4 percent in morning trading on Wednesday, after reaching an all-time high of £1,016 ($1,315) on…Read More

Malta Allegedly Failing to Aid Italian Prosecution of Online Gambling Site Reportedly Linked to Mafia

Malta mafia Nicola Gratteri

Malta is allegedly dragging its feet in responding to letters from Italian authorities who are seeking judicial assistance. Italy is probing a former gambling website that was previously licensed by the small island country. Italian prosecutor Nicola Gratteri revealed recently that Malta hasn’t replied to “letters of request,” essentially a formal ask from a foreign…Read More

Reuters Exposes Shell Companies Processing Online Payments for American Gamblers

My Fabric Factory exposed as “transaction laundering” site.

A report by Reuters this week exposed shell online retail companies that act as a front for processing illegal online gambling payments.    The news agency’s reporters uncovered a network of sites purporting to sell household goods, but which instead engage in a practice known “transaction laundering,” in which shell businesses process payments on behalf…Read More

DraftKings and Fan Duel Losing Hundreds of Millions, According to Leaked Documents

DraftKings and FanDuel lost hundreds of millions

DraftKings and FanDuel are hemorrhaging money, according to a 106-page merger document circulated by FanDuel to its investors back in January, and leaked to AXIOS this week. AXIOS reports that DraftKings has lost well into eight figures every year since its inception, expect for the year when it lost nine. In 2015, the year the…Read More

$43 Million Slots Jackpot Malfunction Lawsuit Challenges Casino’s Refusal to Pay

slots jackpot malfunction Resorts World

Katrina Bookman hit a slots jackpot last fall at Resorts World in Queens, New York, with her screen displaying that she had won $42.9 million. Or at least she thought. When the New York resident went to cash out her lucky ticket, casino personnel informed her the win was erroneous, and that the slot machine…Read More

Vegas Golden Knights Team with D Las Vegas, While “Vegas Vickie” Rides into Sunset

Vegas Golden Knights have partnered with the D Las Vegas

Las Vegas’ new hockey team and the city’s first ever major league sports team (beating the Raiders by a whisker) announced its official downtown casino partner this week. The Vegas Golden Knights have partnered with the D Las Vegas in an exclusive six-year deal that will see the casino hold an annual “fan fest” in…Read More

Japan Considers Banning VIP Junket Operators from Its Fledgling Casino Industry

VIP junket Japan integrated resort

As Japan moves forward in the early stages of building its own casino gaming industry, the country is considering disallowing the use of VIP junket operators to help future casinos bring in high rollers to their properties. That’s the opinion of an advisory board charged with presenting ideas to the National Diet, Japan’s legislative body,…Read More

British Columbia Casinos Alleged to Have Been Used to Launder Millions by Criminal Gang

Kevin Hackett British Colombia money laundering

In British Columbia, casinos were allegedly used by a criminal gang to clean up millions in drug money by “laundering” the money via gambling, police there say. Authorities have now arrested nine people they believe to be part of an illegal racket that laundered millions in drug money through the province’s casinos. A year-long investigation…Read More

DraftKings FanDuel Merger on the Ropes, Insiders Say

DraftKings FanDuel merger on or off

A DraftKings FanDuel proposed merger could be in serious jeopardy, according to sources with insider knowledge of the faltering deal. Three sources who spoke to technology business website Recode this week said they believe the Federal Trade Commission (FTC) could be gearing up to block the deal, because of serious concerns about the ramifications of…Read More

Golden State Warriors Almost a Sure Bet to Repeat in 2018, Oddsmakers Say

Golden State Warriors odds 2018

The Golden State Warriors made easy work of the defending champion Cleveland Cavaliers in this year’s NBA Finals, and if the early future odds in Las Vegas are correct, history is almost certainly going to repeat itself next June. The Westgate SuperBook posts the champs at 1-2 to win the 2018 Larry O’Brien Trophy. With…Read More

Trump Administration Holding Firm Against Federal Repeal of Sports Betting Ban, Says NJ’s Christie

Trump administration sports betting

The Trump administration isn’t too anxious to push Congress on a bill that would repeal the current federal ban on sports betting. That’s according to New Jersey Governor Chris Christie (R), whose state remains embattled in its quest to allow horse racetracks and Atlantic City casinos to offer wagering on sports. The lame duck governor…Read More

Wynn Resorts Allegedly Bans Social Media Entrepreneur for Marijuana Ties

Wynn Resorts Red Card

Wynn Resorts reportedly turned away a gambling patron who tried to enroll in its Red Card rewards program for his ties to the cannabis industry. MassRoots CEO Isaac Dietrich tells Leafly, a marijuana information website, that he signed up for the loyalty card while in Las Vegas last week. But after submitting his registration, Wynn…Read More

Unite Here Local 26 Union Reaches Tentative Deal with Rhode Island Casino

Unite Here Local 26 Twin River

Unite Here, a powerful nationwide labor union headquartered in New York City, has reached a tentative deal with the Twin River Casino in Rhode Island over a new healthcare benefits plan. The Unite Here Local 26 chapter in Rhode Island that represents union members working in the hotel, food service, laundry, and casino gaming industries,…Read More

Bacterial Disease Legionnaires Infects Guests at World Series of Poker Host Resort

bacteria disease Legionnaires Rio WSOP

The bacterial disease Legionnaires has been discovered inside a hot water heating system at the Rio All-Suite Hotel & Casino in Las Vegas. Currently hosting the 48th World Series of Poker (WSOP), health officials tested water heaters at the Caesars-owned property after two guests who stayed at the resort on different occasions reported infections. One system was found…Read More

Las Vegas Illusionist Surrenders $975k Before Sentencing on Child Porn Charges

Jan Rouven child pornography payments

Jan Rouven just saw another facet of his life disappear on Monday, nearly $1 million from the sale of his home in Las Vegas’s Centennial Hills neighborhood. The former magician, who had headlined the “New Illusions” show at the Tropicana for about two years before being arrested on child pornography charges in 2016, turned over most of…Read More