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A staggering 9.9% decline in revenues to $346.2 million this October from a year ago has thrown eleven Atlantic City casinos into the red. What really hurt the East Coast gambling haven was the month of September. That was when scandals and financial collapses were threatening to tear apart the financial sector. A staggering 15 percentage-point decline in gambling revenues was recorded - the worst in three decades. Steady declines Atlantic City saw revenues from slots drop some 8.6% and 2% from table gaming by October 2008. While slots still realized some $236 million and tables $110 million, operators are concerned. Clients are facing the reality of the infamous "credit-crunch". Even "The Donald" watched the share price of Trump Entertainment drop by as much as 29.3% in revenues. Similar war stories are shared between many world-famous gambling havens such as the Tropicana, Las Vegas Sands and Harrah's. Many operators are predicting some tough times ahead. Cause and cure Tougher competition, less disposable income, smoking regulations and layoffs are some of the factors responsible for gambling declines but sentiment remains cautiously optimistic. As a whole up to 8% declines and thousands of job losses are expected by the end of 2008 in Atlantic City. But industry pundits say that things will begin improving in the latter quarters of 2009. As gas prices fall, more people will be likely to frequent the resorts and have greater disposable incomes. As with the 75% smoking ban, effective November 15, 2008, which will be valid for a year - more folks will feel comfortable gambling without that added limitation.
Betting experts from the game's world governing body FIFA said that illegal gambling and match-fixing are a bigger threat to soccer than doping. Detlev Zenglein, an analyst for the Early Warning System set up by FIFA to monitor suspicious betting patterns, made the statement Monday at a conference in Zurich entitled "Sports betting – mutual dependence and dangers". "It is a big threat... in the special case of football even bigger than doping because of the perception it leaves in the minds of the public," he said. Every time there are rumors it sticks on people's heads and lessens their enthusiasm for sport because they think they might have been cheated. EWS officials say illegal betting could account for around one-third of an estimated $350 billion revenue generated by global soccer gambling. They say the illegal Asian betting markets pose the biggest problem, but other conference speakers said the problem exists in Europe too. "We have had more than 25 UEFA-organized matches in the last two seasons that were very likely manipulated but the investigations are still ongoing," said Carsten Koerl, chief executive of bet monitoring firm Sportradar. Keeping proportions FIFA president Sepp Blatter warned against exaggerating the problem, however, saying that allegations were made of match-fixing at the 2006 World Cup in Germany without any evidence. "In FIFA we are prepared to fight for clean, proper and fair sport but we cannot stand people abusing football or using it as a platform to spread new scandals when finally there are none," he said. Early Warning System in place FIFA's Early Warning System was originally launched as a successful pilot project at the 2006 World Cup, and since July 2007 EWS has been monitoring all the qualifying matches of the 2010 FIFA World Cup South Africa, and will continue to do so right through to the final phase of the tournament itself.
Hurricane Ike may have decimated parts of eastern Texas, but suggestions are being shared about the potential windfall benefits of regulated gambling activity. In times of natural and more recently economic cataclysm, there is some bright hope that the gambling industry can provide a sorely needed boost. Take for instance Galveston Island, Texas. A massive and catastrophic hurricane took no prisoners as it ravaged the territory, spewing thousands of cubic liters of water over everything - destroying livelihoods, properties and the local economy. However there are business owners who believe in the power of regulated gambling as a panacea to this localized disaster. If the Mayor of Galveston - Mrs. L. A. Thomas accepts the proposals to legitimize gambling, there may yet be a silver-lining to this dark cloud. Economic activity There is no doubt that casinos generate massive economic opportunity. This idea would be no different and it could assist in much-needed, socio-economic, uplifting initiatives. Economic stability and wellbeing come from the employment prospects available at casino operations. There are many peripheral industries that are easily linked with casinos. Texas is losing out on potential revenue to Louisiana's casinos. The revenue streams that can be generated from a fresh, bold move to regulate gambling would be significant. This would also mean that local catastrophes could be better managed with more available resources. If and when Texas does legalize casinos it will be the 13th state to do so.
We have encountered shady operations recently that have us release this urgent alert to all casino affiliates and players too. Red Hot Revenue This affiliate, formerly known as Bet Rev and found still at that address, Betrev.com, operates 3 online casinos and 1 poker room. They are: Royal Dice Casino Giant Vegas Casino Sierra Star Casino Nutspoker Poker Room For over a year we have been trying to contact the team and collect what we are owed, but phone calls have not been answered, emails ignored, and even the casino support said it will pass our messages but we have no heard back from anyone. Most recently, a person from Red Hot Revenue has contacted us regarding advertising on our site. We promptly asked that the issues be resolved before we engage in further business, but have never heard from the Red Hot Revenue person again. Strangely enough, and perhaps in line with their unacceptable business practices, they feature on the site certifications from Affiliate Guard Dog and Casino Affiliate Programs. (Are they valid?) First Grand Gaming This affiliate program owes us a sum that has collected over the past years. It operates 2 online casinos: African Palace Casino Indio Casino Phone calls, emails and any attempt to reach First Grand Gaming have been ignored. Comment Upsetting, aggravating, uh! We'd just love to excuse these affiliates for being sloppy, or bad business people, but they are clearly bad. This is not about our ego, or the funds we are owed; not only at any rate. But affiliates that steal from us are immediate suspect to be stealing from you, whether you are an affiliate yourself or a player. Beware of Red Hot Revenue and First Grand Gaming. PS - Obviously, there is no comment to quote.
Taiwan's parliament is set to legalize gambling on offshore islands as soon as the end of 2008, news agencies have reported. In a private meeting on Friday, Taiwanese lawmakers agreed to put the bill to a formal vote, with a majority indicating their support, a senior legislative aide said. The passing of the bill would allow casinos to be built in the Penghu archipelago (also known as the Pescadores) situated between Taiwan and mainland China, southeast of the Taiwan Strait. Legalization of gambling in the summer holiday hotspot has been discussed for years, but now looks like coming to fruition after the election of pro-casino advocate Ma Ying-jeou to the presidency in May. Penghu, which has a population of 90,000, has already passed two referenda in support of gaming. Pro-casino advocates pointed out the economic incentives to counter the arguments of anti-gambling groups, led by religious groups and locals who fear an increase in crime. The building of casinos in Penghu would make Taiwan a competitor for other regional gambling centers such as Macau. However, local officials say they have no intention of being another Macau, having made a bid for only three casino licenses. Macau, a Special Administrative Region of China just 29 square kilometers in size, has 28 casinos in total.
Television ratings for November's World Series of Poker final table were up 50 percent on last year, according to tournament officials and ESPN, the network covering the event. ESPN recorded around 1.9 million households watching the two-hour broadcast of the final table, in which 22-year-old Dane Peter Eastgate defeated Russian Ivan Demidov to become the event's youngest-ever winner. The format of this year's event was tailored so that the final table could be played at a closer time to its airing on television. Prior to this year, poker fans had to wait months to view the July tournament on the box. The tournament's ratings have risen since the inaugural event in 2003, won by American Chris Moneymaker. In a final lasting more than 15 hours and played over two days, it took Eastgate 274 hands to defeat Demidov, finishing with a winning hand of an ace of diamonds and a five of spades. Eastgate won $9.1 million in prize money for his efforts.
A leading legal authority in Internet gambling has come out with some of his thoughts on the recent Kentucky ruling by Judge Thomas Wingate. State seizures 141 Internet gambling domains were recently seized and there are moves afoot to have the assets of these "illegal gambling operators" forfeited to the state. In a move that was instigated by Kentucky Governor Steve Beshear, Judge Wingate upheld his end of the bargain and went ahead with the seizures. Prof. Rose gave Poker News Daily his opinion on what many industry pundits consider to be a groundbreaking ruling. From his perspective Rose feels that the seizures are "silly". To be precise he feels that a Kentucky judge shouldn't have the authority to seize a worldwide domain name. But Professor Rose wasn't about to stop there. His feelings on the state seizure of domain names extend to the judge's definition of contraband activities. Judge Wingate, in his anxiety to support the Kentucky's governor, considered the online gambling activity as a violation of gambling law. Rose feels that the judge was wrong in assuming that Web names are equivalent to slot machines - or as the court put it - "gambling devices." Professor Rose went on to explain that under Judge Wingate's terminology, a car, money or even a house may be considered a gambling device. It borders on the extreme and sets a dangerous precedent. Based on this reasoning Professor Rose thought that the judge would have overturned the case. Positive suggestions Rose would rather the judge dismissed the case citing that Kentucky law has no jurisdiction over domain names. On the issue of one of the online gambling companies - iMEGA - going to the court of appeals Professor Rose was particularly pragmatic. He continually stresses the need for giving adequate legal notice to the owners of the gambling concerns in order that they have ample time to find qualified legal counsel. Rose feels the Appeals Court would more than likely find too many legal problems in this issue and eventually overturn the ruling. If all else fails and companies want to continue online gambling then Rose suggests they simply exclude Kentucky IPs from their allowable gambling domains.
Smokers are once again lighting up at Atlantic City's 11 casinos after a month of being prohibited from doing so under council laws. The city passed a complete smoking ban last April, just before Atlantic City felt thefull impact of the economy and business began to decrease. Under the ban, the casinos could set up separate smoking areas, like those seen in airports and shopping malls around the world. As a result of the difficult times, the council changed its mind, but there was no way to legally stop the new laws from being implemented on October 15, hence the one-month wait until the law's expiration before smoking was once again permitted. Atlantic City casinos suffered a 9.9 percent decline in revenues to $346.2 million this October when compared to a year ago. An 8 percent decline and thousands of job losses have been predicted by the end of 2008, damage the council obviously hopes will be lessened by its backtracking on the smoking laws. This will be the second successive year of economic decline in the New Jersey gambling haven, after 28 straight years of gains. The ban has now been repealed for at least one year.
Las Vegas, Nevada was the scene of some raucous partying when Danish poker star Peter Eastgate walked away with $9,152,416 and the World Series of Poker title. Youngest champ ever Peter Eastgate knows all about winning and the crowning glory came in Las Vegas where he was recently crowned the World Series of Poker champion, beating Ivan Demidov in the final stretch. It was an ace-to-five straight vs. Demidov's two fours and pair of twos. But the young champ was all about the game. He was so focused that he paid little heed to the vast sum of money he had just claimed as his own. After a marathon session of 3 hours and a 7-1 chip advantage, he won the big kitty. Those winnings were significant - to the tune of over $9 million plus a gold bracelet for good measure. Demidov does well The runner-up Demidov - a 27-year old Russian, walked away with a staggering $5,809,595. Not too shabby for the loser. The advantage ebbed and flowed between Demidov and Eastgate with the latter losing his 24 million chip advantage within 30 minutes of the opening game. A good run saw Eastgate regain the advantage with aces, queens and two pairs. Demidov is thrilled at his performance; although he would prefer to have won he feels that the game now has a far wider reach than merely attracting American players. Now far more Latin American, European and other players are playing high-stakes poker. Eastgate runs through The man of the moment was definitely Eastgate. He breezed past his tough competition with careful plays and big betting. As he outmuscled his opposition, he claimed some 137 million chips to win the tournament. In his glory quest the Dane beat five players at the final table. Of some nearly 7,000 competitors, only 9 remained over 11 days in July. Not a bad score for Denmark's Peter Eastgate!
A referee error at the end of the NFL match between the Pittsburgh Steelers and the San Diego Chargers Sunday has resulted in a swing of around $64 million to bookmakers, angering bettors worldwide. Pittsburgh won the game 11-10, but an extra touchdown scored on the game's final play by Steelers safety Troy Polamalu was overruled after a replay review and consultation by the match officials. NFL referee Scott Green later said the officials had made a mistake and the touchdown should have stood, which would have given the Steelers a 17-10 victory (not including the likely one-point conversion that would have followed). The admission was hardly any consolation for the hundreds of thousands of people worldwide who put money on Pittsburgh to win by more than the 4.5 point spread offered by most Las Vegas casinos. Big money line The average NFL game draws about $10 million in Las Vegas betting alone. Las Vegas-based Website Pregame.com estimated that 100 million dollars was bet worldwide on the game, with two-thirds of that amount bet on the high-flying Steelers, who are now a 10/1 third-favorite - at Ladbrokes - to win the Super Bowl. Had the touchdown counted, those who bet on the Steelers according to the point spread would have won an estimated 32 million dollars. Instead there was an approximately 64 million dollar swing in favor of the bookmakers. Change in rules NFL vice president of officiating Mike Pereira told ESPN Monday the league is considering modifying rules about using instant replays to allow second consultations. He said the NFL rules committee might even change the rule before the NFL playoffs, which begin in January. Just as well, as a similar mistake in a game such as the Super Bowl could cause one hundred times the grief for punters than that caused in the Steelers-Chargers debacle.
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