GAMING | MACAU CLOUD SHOULDN'T DARKEN PHILIPPINE CASINOS, RAZON SAYS
That's the message from Philippine billionaire Enrique Razon Jr. after casino operator Bloomberry Resorts Corp. tumbled 61 percent this year, making it the nation's worst-performing major stock.
Bloomberry's losses will narrow because gambling revenue is growing, unlike in Macau, Razon said in an interview last week in Manila. He said the company's earnings will improve and it plans to provision by year-end for all unpaid credit extended to VIP and premium players, he said. Bloomberry provided 1.81 billion pesos (USD39 million) in the first half for 4.69 billion pesos of receivables.
Source: Macaudailytimes Website
As daily fantasy sports denies 'gambling label,' scrutiny grows with possible insider trading LAS VEGAS - Stock market traders and chess players - that's who's playing DraftKings, according to CEO Jason Robins, who told a crowd of casino executives last week in Las Vegas that fewer than 15 percent of the players on his site make wagers in traditional sports books.
What he didn't mention was growing online criticism at the time that his site may have allowed activity being likened to insider trading. Daily fantasy players appear concerned a DraftKings employee who said he accidentally posted data online showing which NFL players were being picked the most for draft lineups for a day's contest.
Source: Startribune Website
Legalized sports betting in New Mexico casinos not likely
A lot of people watching the Broncos and Chiefs play on CBS Thursday night had more than a rooting interest. They also had money riding on it. If you've ever been to a Vegas casino, you've probably wondered why you can't bet on sports at casinos here in New Mexico. The chance of seeing a sports book in New Mexico, for now, is a long shot. The American Gaming Association reports that $95 billion on NFL and college football games will be wagered this season.
Source: Krqe Website
The Global Gaming Awards Crown the Industry Leaders
The competition in the online gambling industry is particularly intense these years and the Global Gaming Awards help establish a hierarchy. The event was held during the G2E Vegas event and the prizes were awarded at the glamorous Venetian Palazzo Congress Center. A panel of 50 independent judges with close connections to the industry, therefore tremendous expertise, went over the shortlist once again and crowned the industry leaders.
Source: Onlinecasinoreports Website
PayPal Returning to United States Online Gambling Market After 12 Year Hiatus
PayPal has decided to get back into the game in the US Internet gambling market. The move comes after leaving the table 12 years ago after the digital payment giant merged with eBay in 2003.
PayPal's partnership with the e-commerce conglomerate forced its services to be more closely scrutinized, ultimately leading the online financial processor to discontinue transactions related to iGambling in the United States. Now, following its split from eBay in July, PayPal is once again an independent company and is apparently on the prowl to determine whether online gaming is ripe for re-entry.
Source: Casino Website