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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 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 Wider entertainment offering made possible by new partnership Gibraltar-based online gambling group 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 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). spokesmen said that the ... Read more


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 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 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 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


GOVERNMENT CREDIT CARDS ABUSED Millions of dollars of unauthorised spending by federal employees included Internet gambling action The US Government Accountability Office's latest report discloses some startling cases of government credit card abuse by federal employees, reports Associated Press.  Federal employees charged millions of dollars for Internet gambling and dating, tailor-made suits, lingerie, lavish dinners and other questionable expenses to their government credit cards over a 15-month period, congressional auditors say.  The report examined spending controls across the federal government following reports ... Read more


SOUTH AFRICA: ONLINE GAMBLING REGULATION DELAYED AGAIN Regulation hangs in the balance as political arguments continue The much-delayed regulation of online gambling in South Africa has been held up once again, this time by a debate over online gambling advertising which must be resolved before amendments to the National Gambling Amendment Bill can go forward in Parliament. The advertising issue is rooted in an amendment to the Bill made by the the National Council of Provinces (NCOP) which included an outright prohibition on ... Read more


POKER POPULAR IN  GERMANY Up to 290 000 poker fans enjoy the game Deutsche Welle reports that the game of poker is enjoying growing popularity in Germany, with between 200 000 and 290 000 Germans regularly playing on the Internet. In 2006, it was estimated that players spent around Euro 1 million gambling online. The publication explains that in Germany, it's only legal to gamble for money in casinos, leaving the booming Internet market in a grey area. If it involves money, online ... Read more
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