Paddy Power Betfair's first year of combined operations was highlighted by increased revenue. That revenue boost, however, was dragged down a bit by the costs of joining the two companies. The company's 2016 results were released in the form of an earnings report on Tuesday, which was well received by investors. Overall, Paddy Power Betfair…
Former Amaya Gaming CEO David Baazov has divested himself of $99 million (USD) worth of his old company's stock. The surprise move leaves Baazov with plenty of cash to fund his ongoing legal defense and was also applauded by Toronto Stock Exchange investors. Baazov's big deal, as it turns out, offers a lot more than…
The thought of legal, regulated gambling in India is something that every gambling operator on the planet dreams of at night. After all, India's population is somewhere around 1.25 billion and a little over half of its residents are of gambling age. In this light, a recent meeting of the Law Commission of India, the…
Is Sheldon Adelson softening his stance on regulated sports betting inside the United States? If a recent editorial in the Adelson-owned Las Vegas Review-Journal is any indication, the answer to that question is a soft, "yes." Late last week, the Review-Journal posted an article titled, Reports calls for end to federal ban on sports betting.…
Regulated online gambling could generate as much as $400 million in tax revenue over its first six years of operation. That's the extremely optimistic viewpoint put forward in a recent study produced by onlinepokerreport.com analyst Robert DellaFave. DellaFave's report was commissioned by supporters of the effort to legalize online gambling in Pennsylvania and includes $146…
Atlantic City's troubled boardwalk got a bit of good news this when reports began circulating that the Hard Rock International group will likely be buying the Trump Taj Mahal Casino. The Florida-based investment is reportedly planning to spend upwards of $300 million updating and upgrading the Trump Taj Mahal. The Taj Mahal's owner, billionaire Carl…
A Quebec judge has set a November 20 trial date for former PokerStars CEO, David Baazov. Baazov is accused of spearheading an insider trading scheme that involved several of his close associates and millions of dollars. Quebec Court Judge Claude Leblond informed Baazov of his date with destiny during a hearing on Tuesday. The trial…
An Idaho Senatorial Committee has killed an effort by one its own to permanently remove slot machines from Indian casinos in the Land of Famous Potatoes. House State Affairs Chairman Tom Loertscher (R) spearheaded the effort to rob Indians of slot machine revenue in an effort that appeared to be motivated by revenge. Loertscher was…
Mexican lawmakers are, once again, delaying an ambitious set of gambling law reforms that were aimed at moving the country's gaming industry into the 21st century. Members of Mexico's gambling industry were hoping to see the Law of Games and Sweepstakes update implemented by August 31, 2018, but virtually no one seems to think that's…
Sheldon Adelson is getting ready to invest upwards of $10 billion on the construction of a Las Vegas Sand Corporation casino in Japan. The billionaire casino magnate and political activist is so confident of success in the Land of the Rising Sun that he's willing to lay down that $10 billion bet in cash. Adelson…
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