London (Reuters) - Online gaming firms faced their biggest-ever crisis on Monday after U.S. Congress passed legislation to end Internet gaming there, threatening jobs and wiping 3.5 billion pounds off share prices. Britain's PartyGaming, operator of leading Internet poker site PartyPoker.com, and rivals Sportingbet and 888 said they would likely pull out of the United States, their biggest source of revenue, and warned on future profits.
Kiev/Lübbecke. A number of novelties “made by Gauselmann“ were the highlight of the “Entertainment Industry“ trade show in Kiev, Ukraine, from 20 to 22 September 2006, which was the first Ukrainian MERKUR GAMING show together with “Jetgames Eurasia“, the new sales partner for Ukraine. “Our new multilevel jackpot system was in the focus of our customers”, reports Axel F. Pawlas, CSO of MERKUR GAMING.
Prof. Dr. Andreas Pinkwart, deputy minister president of the Federal State of North Rhine-Westphalia and minister for innovation, science, research, and technology opens the IMA 2007 (international trade show for the entertainment and vending machines industry) in Düsseldorf, Germany
Las Vegas (AP) -- Harrah's Entertainment received a USD 15.05 billion offer for the company from two private-equity firms in what would be the biggest deal ever for a casino operator and the fifth-largest leveraged buyout in history. Harrah's said Monday that Apollo Management and Texas Pacific Group are offering USD 81 per share in cash, a 22 percent premium to Harrah's closing stock price Friday on the New York Stock Exchange.
America’s USD 6 billion (GBP 3.2 billion) internet gambling industry is facing meltdown after the US Senate pushed through a Bill at the weekend outlawing the processing of bets by banks and credit companies. The surprise move, which is expected to spark a massive share sell-off, will prompt London-listed 888 Holdings to announce this morning that it is halting its entire US-facing operation, accounting for half its business.
Derby will have a new casino in the GBP 95m Riverlights scheme regardless of a city council bid to the Government under new gambling laws. The Riverlights project's new developer has revealed that it is in an "advanced stage" of negotiations with Nottingham-based Gala, which has 28 casinos in the UK. Derby-born David Osborne, who is heading up Derby Riverlights - a company set up to take on the redevelopment of Derby Bus Station - said he hoped that solicitors would be instructed next week to finalise the deal.
Failed negotiations with hotel and casino company Sun International led to strike action on Saturday by Saccawu members, the trade union said. "We have still not entered into a full-blown strike and are still ready to settle this issue," said SA Commercial, Catering and Allied Workers Union (Saccawu) spokesperson Ivan Molefe. Only 2409 out of 4241 employees belonging to Saccawu were striking at ten of Sun International's resorts countrywide. The group employed over 8000 workers. He did not say when the strike would intensify.
Monaco (Reuters) - Monaco were forced to remove advertising boards for online betting firm bwin.com before the kickoff of Saturday's Ligue 1 match against Le Mans. The French Professional Football League (LFP) on Friday banned its clubs from advertising any form of gambling and online betting. An LFP official told Monaco the boards around the pitch had to be removed or the match would not start. "Monaco insist on the fact that the decision to remove all advertising for bwin was imposed by the LFP as a condition for the match to start," Monaco said in a statement.
Building one of the world's largest casinos comes with some advantages. During the last decade, the Mohegan Tribe, which for several centuries before hasn't been considered wealthy, had owned a business worth billions of dollars. "I have seen a lot of change," said Ralph Sturges, Mohegan chief for life. "A lot of people have been given money, medical help and a lot of other things they never had in their lives. Most of them are better off today than they were in the history of their lives."
Washington (Reuters) - Most forms of Internet gambling would be banned under a bill that received final U.S. congressional approval early Saturday. The House of Representatives and Senate approved the measure and sent it to President George W. Bush to sign into law. The bill, a compromise between earlier versions passed by the two chambers, would make it illegal for banks and credit card companies to make payments to online gambling sites.
Peter Dicks, the former chairman of Sportingbet, was set free yesterday after New York state governor George Pataki refused to sign an order for the extradition of the 64-year-old executive to Louisiana to face charges of illegal computer gambling. "I am very grateful," the visibly relieved Mr Dicks said outside the courthouse. Flanked by his team of lawyers, he called his wife to report the news. "This is what they call a good moment," he told her.
Macau (AP) - Macau opened its second new casino in a month Friday, with the Grand Waldo Casino and Hotel celebrating its official start in the Chinese territory that may soon replace Las Vegas as the world's gambling epicenter. The 3.2 billion Hong Kong dollars (USD 410.7 million) casino project includes a 318-room hotel and an entertainment complex with a nightclub and a six-story spa. The casino features 100 tables, 334 slot machines and an additional 68 tables for high rollers in VIP rooms decorated with golden dragons.
