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Brilliant Maiden Results From Asian Logic

BRILLIANT MAIDEN RESULTS FROM ASIAN LOGIC Recently-floated online and land-based gaming company turns in golden results Recently listed gambling group Asian Logic plc has produced an impressive set of maiden results that include a 210 percent growth in pre-tax profits and annual revenues up 95 percent. The company, which has a close association with online gambling software developer Playtech, reported pre-tax profits of $12.4 million, 210 percent up from the 2006 comparative of $4 million.  Annual revenues rose 95 percent to $54.3 million ... Read more
 

New York Congressman Joins IGREA Supporters

NEW YORK CONGRESSMAN JOINS IGREA SUPPORTERS There are now 48 co-sponsors for Barney Frank's legislative attempt to regulate online gambling in the USA The Congressional representative for the 8th District of New York, Jerrold Nadler, became the 48th co-sponsor of Congressman Barney Frank's  HR 2046 Internet Gambling Regulation and Enforcement Act this week, seeking to regulate online gambling in the United States. Nadler signed in a week where a Congressional hearing heard financial institutions, politicians, regulatory drafters and pressure groups roundly condemn anti-online ... Read more
 

Intertops Turns Ten

INTERTOPS TURNS TEN Online gambling pioneer says trust is everything When Intertops Casino.com launched one of the first online casinos back in 1998, sceptics asked the same thing they’d asked two years before when the pioneering company launched the first online sportsbook - how will player trust be achieved? Intertops answered that it already had generated the quality, and since then the owners claim they have continued to do so through probably tens of millions of transactions.  “Trust is everything in this ... Read more
 

Aussie Gambling Stocks Reeling

AUSSIE GAMBLING STOCKS REELING Almost a quarter of stock price wiped out following Victoria government announcement An announcement by the Victoria state government this week that will result in the end of the Tabcorp and Tatts betting duopoly in Australia by 2012 has severely impacted both companies, causing record declines in share prices. Tabcorp Holdings Ltd. fell 22 percent and Tatts Group Ltd. 28 percent on the Australian Stock Exchange, wiping a total of A$2.9 billion ($2.7 billion) off the market value of ... Read more
 

Record Bingo Jackpot Hit By UK Player

RECORD BINGO JACKPOT HIT BY UK PLAYER GBP 107 647 makes a major difference to Lancashire man's bank balance What is believed to be one of the highest ever online bingo jackpots - GBP 107 647 - was won this week at Bingo Gold.com by MarkJ, a player from Lancashire in the UK.  "I'm in shock. I just can't believe it. It's absolutely fantastic! I've only been a member for a few weeks. I've had today off work so thought I'd have ... Read more
 

GAMES AGREEMENT BETWEEN 888.COM AND CTXM

GAMES AGREEMENT BETWEEN 888.COM AND CTXM Wider entertainment offering made possible by new partnership Gibraltar-based online gambling group 888.com and the Riga, Latvia-based gaming software developer CXTM SIA have signed a partnership agreement which will see a wider range of gaming products available to 888.com websites and white label licensees. Financial details of the arrangement were not disclosed. The agreement follows a similar arrangement signed with NextGen Gaming at the end of last (March) month (see previous InfoPowa report). 888.com spokesmen said that the ... Read more
 

TIME TO FOLD ON INTERNET GAMBLING SAYS WSJ

TIME TO FOLD ON INTERNET GAMBLING SAYS WSJ Barney Frank may be on to something by introduced a bill to regulate online gambling, says US business journal.  The internationally respected US business and financial publication the Wall Street Journal appears to approve of the idea of regulated and licensed online gambling in an op-ed article this week, observing that Congressman Barney Frank's Internet Gambling Regulation and Enforcement Act proposal could resolve several problems now facing the US as a consequence of ... Read more
 

CRYPTOLOGIC BUYS INTO ASIAN MOBILE DEVELOPER

CRYPTOLOGIC BUYS INTO ASIAN MOBILE DEVELOPER Asian expansion plan continues to develop Dublin-based online gambling software developer CryptoLogic Limited continued its aggressive expansion into Asia this week with an agreement to take a substantial minority interest in South Korea’s Mobilebus Inc., one of Asia’s fastest-growing mobile and PC game developers and publishers. Financial details on the deal were not disclosed. CryptoLogic will have representation on the Mobilebus board of directors and the option to increase its ownership to a majority position in the ... Read more
 

MAJOR NEW CANUCK POKER TOURNAMENT

MAJOR NEW CANUCK POKER TOURNAMENT Poker goes coast to coast in the Great White North  A major new big buy-in land poker tournament for Canada is shaping up in the World Poker Tour's just announced Coast to Coast Poker Championship, which will feature high stakes poker action in an East vs. West competition at the River Rock Casino Resort in Richmond, B.C, on May 5-13. The British Columbia Lottery Corporation and WPT organisers anticipate that with Canada's track record for producing top ... Read more
 

NEW BRANDING FOR HARRAH'S

NEW BRANDING FOR HARRAH'S New name will better aid group's expamsion plans internationally One of the most well known brands in the global gambling business will soon take a backseat to a new identity following an announcement this week by Harrah's Entertainment, which says its board of directors has decided to change the casino company's name to Caesars Entertainment Corporation. Harrah's chairman and chief executive Gary Loveman said the change will boost the company's international name recognition and reputation as a luxury brand. The ... Read more
 
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