World Gambling News » Gambling Financials http://www.worldgamblingnews.com Bringing you the very latest news in the gambling world Thu, 16 Oct 2008 19:37:06 +0000 http://wordpress.org/?v=2.2.1 en Ohio’s Issue 6 - Allowing gambling in the Bible Belt? http://www.worldgamblingnews.com/2008/10/ohios-issue-6-allowing-gambling-in-the-bible-belt/ http://www.worldgamblingnews.com/2008/10/ohios-issue-6-allowing-gambling-in-the-bible-belt/#comments Thu, 16 Oct 2008 19:37:06 +0000 James Anderson http://www.worldgamblingnews.com/2008/10/ohios-issue-6-allowing-gambling-in-the-bible-belt/ Well after years of failed gambling voting in Ohio Issue six this November is the newest to surface.  Issue 6 run by a small time group of Indian Casino promoters is attempting to slip one in there.  They have many loopholes in the proposed amendment to the Ohio Constitution that will allow real casino based gambling once and for all.  They state Millions will go directly to each county of the state evenly and everyone will be happy keeping Ohio’s dollars inside the state but what they do not tell you is this is not forever.  A major loophole in issue 6 is that it states, all casinos in Ohio will have to pay the exact same tax rate.  Does not sound to bad as millions are supposed to flow from just the first casino right?  Looking further, if these boys bring an Indian based casino into Ohio later the effective tax rate for all casinos will be 0 (ZERO)  (NOTHING)!!  as you can not tax a Native American or a business (Casino) run by them.  At least the government did something right for these folks that took care of our land before we stepped in. 

So, as much as I want a casino or two in Ohio, I will be voting NO on issue 6 as I firmly believe a casino will be great for the state, but it must be done correctly or its just a giant vacuum for Ohio’s cash.

]]> http://www.worldgamblingnews.com/2008/10/ohios-issue-6-allowing-gambling-in-the-bible-belt/feed/ US bail out plan, could the death of the UIGEA be involved? http://www.worldgamblingnews.com/2008/09/us-bail-out-plan-could-the-death-of-the-uigea-be-involved/ http://www.worldgamblingnews.com/2008/09/us-bail-out-plan-could-the-death-of-the-uigea-be-involved/#comments Mon, 22 Sep 2008 18:27:14 +0000 James Anderson http://www.worldgamblingnews.com/2008/09/us-bail-out-plan-could-the-death-of-the-uigea-be-involved/ Well this is a personal opinion but Barney Frank has some serious pull all of a sudden.  As the house financial leader he is now looking straight into the bail out plan for wall-street valued at 700 Billion, OMG that’s a big number and that includes MY tax money as well as all other Americans.  I hate to bail out any corporation or greedy ass wallstreet folks but the economy needs fixed or we all go broke I guess.

Getting back to the point, with barney frank presiding over this bill, how hard would it be to slip in an end to the UIGEA as its another must pass bill.  You know my stance on ”slipping” something onto a bill but this would be a double negative making a real positive no?  With Frank’s attempts at passing a bill to eradicate the UIGEA as its a complete joke and Bordon on the banking industry, it seems almost for sure he will add text to regulate gaming online or at least wipe out this stupid addition to the port security act.

 All we can do is hope something decent comes of this fiasco, maybe a moment of silence or a few thousand emails to Frank to let him know this is a good idea! 

]]> http://www.worldgamblingnews.com/2008/09/us-bail-out-plan-could-the-death-of-the-uigea-be-involved/feed/ Barney Frank’s new anti UIGEA bill passes House Committee http://www.worldgamblingnews.com/2008/09/barney-franks-new-anti-uigea-bill-passes-house-committee/ http://www.worldgamblingnews.com/2008/09/barney-franks-new-anti-uigea-bill-passes-house-committee/#comments Fri, 19 Sep 2008 15:29:49 +0000 James Anderson http://www.worldgamblingnews.com/2008/09/barney-franks-new-anti-uigea-bill-passes-house-committee/ September 12, 2008 (InfoPowa News) — Online gambling in the United States is in the headlines again as the week closes, with a new political initiative by House Committee on Financial Services Chairman Barney Frank (Democrat of Massachusetts). His Payments System Protection Act of 2008, just introduced, seeks to push federal authorities on a more precise definition of exactly what constitutes “illegal” Internet gambling in terms of the Unlawful Internet Gambling Enforcement Act (UIGEA) and supporting regulations — a long-standing bone of contention for the congressman. (more…)

]]> http://www.worldgamblingnews.com/2008/09/barney-franks-new-anti-uigea-bill-passes-house-committee/feed/ US Fights WTO Over Internet Gambling http://www.worldgamblingnews.com/2007/11/us-fights-wto-over-internet-gambling/ http://www.worldgamblingnews.com/2007/11/us-fights-wto-over-internet-gambling/#comments Tue, 20 Nov 2007 16:37:53 +0000 James Anderson http://www.worldgamblingnews.com/2007/11/us-fights-wto-over-internet-gambling/ US Fights WTO Over Internet Gambling
By JIM ABRAMS – 17 hours ago

WASHINGTON (AP) — With time running out, the tiny Caribbean island nation of Antigua and Barbuda holds the cards in a dispute over Internet gambling that could ultimately cost the United States billions of dollars.

If arbitration efforts fail, Antigua and other aggrieved parties, including the European Union, could begin exacting sanctions as early as next month over the U.S. decision to withdraw from a World Trade Organization accord recognizing the legality of Internet gambling.

Antigua is seeking sanctions worth $3.4 billion, and has suggested it might claim that sum by becoming a harbor for pirated intellectual property such as movies and musical recordings. Total sanctions claimed by the EU, India and other countries approach $100 billion, although the United States, in negotiations, contends that appropriate levels of compensation would be far less. (more…)

]]> http://www.worldgamblingnews.com/2007/11/us-fights-wto-over-internet-gambling/feed/ PokerTek appoints new CFO http://www.worldgamblingnews.com/2007/10/pokertek-appoints-new-cfo/ http://www.worldgamblingnews.com/2007/10/pokertek-appoints-new-cfo/#comments Mon, 22 Oct 2007 17:45:25 +0000 Robert Weston http://www.worldgamblingnews.com/2007/10/pokertek-appoints-new-cfo/  PokerTek has appointed Mark Roberson as its new Chief Financial Officer. Roberson joins the automated poker table firm from Baker & Taylor, a distributor of books and entertainment products where he served as Vice President and Controller, and was responsible for all financial reporting and accounting functions.

]]> http://www.worldgamblingnews.com/2007/10/pokertek-appoints-new-cfo/feed/ PartyGaming open to Vegas acquisition http://www.worldgamblingnews.com/2007/10/partygaming-open-to-vegas-acquisition/ http://www.worldgamblingnews.com/2007/10/partygaming-open-to-vegas-acquisition/#comments Fri, 12 Oct 2007 20:19:54 +0000 Robert Weston http://www.worldgamblingnews.com/2007/10/partygaming-open-to-vegas-acquisition/ PartyGaming’s chief executive officer Mitch Garber said the poker company was open to acquisition approaches from Las Vegas-based casinos. According to a report in Forbes, Garber declined to say whether the company was already in takeover discussions, but said that he would like to hear from the ‘major players’ in Vegas.

]]> http://www.worldgamblingnews.com/2007/10/partygaming-open-to-vegas-acquisition/feed/ Ladbrokes poker going 3D http://www.worldgamblingnews.com/2007/09/ladbrokes-poker-going-3d/ http://www.worldgamblingnews.com/2007/09/ladbrokes-poker-going-3d/#comments Tue, 18 Sep 2007 13:04:40 +0000 Robert Weston http://www.worldgamblingnews.com/2007/09/ladbrokes-poker-going-3d/ Playwize, software developer listed on the AIM, has signed a deal with online gaming company Ladbrokes to deliver a 3D version of online poker.

The development and licence agreement will allow players on Ladbrokes poker network to play an exclusive version of Playwize’s online 3D poker product. The agreement is for two years and involves a contribution towards development costs paid by Ladbrokes, as well a revenue sharing scheme.

“We are very excited about creating a poker room for Ladbrokes that incorporates advanced 3D technology with our exclusive features including real-time statistical calculators, interactive tutorial and live voice chat,” said Foo Katan, chief executive of Playwize.

Katan also believes this deal will be the first in a line of many similar agreements.

Colin Cole-Johnson, Director of Gaming at Ladbrokes, said: “The Playwize 3D software has an impressive interface that is supported by unique interactive player development content, so we firmly believe this will broaden the appeal of online poker. Importantly, the new 3D platform is fully integrated with our existing software so this will help us build liquidity”.

]]> http://www.worldgamblingnews.com/2007/09/ladbrokes-poker-going-3d/feed/ Cryptologic signs superhero deal - Bally’s Share Buyback http://www.worldgamblingnews.com/2007/09/cryptologic-signs-superhero-deal-ballys-share-buyback/ http://www.worldgamblingnews.com/2007/09/cryptologic-signs-superhero-deal-ballys-share-buyback/#comments Mon, 17 Sep 2007 15:00:32 +0000 Robert Weston http://www.worldgamblingnews.com/2007/09/cryptologic-signs-superhero-deal-ballys-share-buyback/ Software developer CrytptoLogic has secured the rights to develop online casino games based on Marvel superheroes Spiderman and the Fantastic Four. Under terms of the agreement CryptoLogic will retain sole rights for the games through 2010. Financial terms of the deal were not disclosed.

Bally agrees share buy-back
Gaming machine firm Bally Technologies has agreed to repurchase $6 million of its common stock from Chief Technology Officer Robert Luciano. Under terms of the agreement, Bally will buy the shares in October or on a later, mutually agreed-upon date.

]]> http://www.worldgamblingnews.com/2007/09/cryptologic-signs-superhero-deal-ballys-share-buyback/feed/ 888 Holdings announces strong first-half http://www.worldgamblingnews.com/2007/09/888-holdings-announces-strong-first-half/ http://www.worldgamblingnews.com/2007/09/888-holdings-announces-strong-first-half/#comments Mon, 10 Sep 2007 15:09:21 +0000 Robert Weston http://www.worldgamblingnews.com/2007/09/888-holdings-announces-strong-first-half/ Online gaming company 888 announced a jump in first-half pre-tax profits of nearly 300 per cent, to $19 million, against the same period last year. Net gaming revenue for continuing operations in the period also increased to $97 million, a rise of 24 per cent.

Playtech finalises Mansion deal
Playtech has signed a deal with Gibraltar-based gaming firm Mansion to supply a suite of over 90 gambling games to the company’s website. The new offerings will be fully integrated with Mansion’s own portfolio of casino games, which will remain on offer.

]]> http://www.worldgamblingnews.com/2007/09/888-holdings-announces-strong-first-half/feed/ Gambling Financial News http://www.worldgamblingnews.com/2007/09/gambling-financial-news/ http://www.worldgamblingnews.com/2007/09/gambling-financial-news/#comments Thu, 06 Sep 2007 14:40:35 +0000 Robert Weston http://www.worldgamblingnews.com/2007/09/gambling-financial-news/ PartyGaming confirms ITV deal
PartyGaming confirmed that it had signed a white-label partnership deal with ITV to provide the UK broadcaster with a range of betting, casino and bingo games. Financial terms of the deal were not disclosed.

Paddy Power doubles first half profits
Paddy Power’s operating profits more than doubled in the first half of 2007, to €40.8 million against €19.6 million for the previous year. Pre-tax profit rose by €22.2 million in the period, to €42.7 million, while total revenues hit €143.8 million.

Playtech announces $44m profits
Playtech announced first half group revenue of $44 million, a drop of just over $2 million from a year ago before the US online gambling ban had been implemented. The gaming software group reported casino games revenue of $32.6 million in the six months to June, with revenues of $10.5 million from poker.

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