Springfield Mass Might be Getting Massive New MGM Casino

SPRINGFIELD, Mass. — (Associated Press) - Casino giant MGM Resorts International re-entered the Massachusetts casino sweepstakes on Wednesday with an ambitious $800 million plan for a resort entertainment complex in the heart of downtown Springfield.

Pay Grandma BetFred! Bookie Berated in London Press

The headlines these past 24 hours have been jarring.

From the Daily Express:  I’ve Won 200-1 Bet on My Grandson at Olympics….But Bookies Won’t Pay Up

From the San Francisco Chronicle:  British Bookmakers Won’t Pay Out Grandmother’s Winning Bet

Revel Casino Downgraded by Moody’s

Troubled Revel Casino has been downgraded by Moody’s Wednesday.

The newest Atlantic City casino reported the biggest losses in that New Jersey gambling Mecca during its first several months of operation.

Poker Player Nancy Todd Submits 121,503 More Signatures for Arkansas Casino Measure

By ANDREW DeMILLO, 
Associated Press

LITTLE ROCK, Ark. (Associated Press) - A professional poker player who wants to put a casino legalization measure on the ballot has submitted more signatures to state election officials. But it's unclear whether she'll be able to put her proposal before voters this fall.

PokerStars Founder Isai Scheinberg Could See Charges Dropped in Wake of Poker Ruling

Following a New York federal judge ruling proclaiming poker as a “game of skill” and not “gambling” under current federal legislation, there is talk that charges against PokerStars founder Isai Scheinberg could soon be dropped.

Scheinberg founded what is today the world’s largest “real money” online poker room the very day the World Trade Centers were under attack in New York City, September 11, 2011. 

Sam Oldham Granny Gets Shafted by BetFred.com: Bookie Refuses to Honor Olympic Bet

British bookmaker BetFred.com has refused to pay out on a 200/1 bet placed by Olympian Sam Oldham’s grandmother that he would win a medal at this year’s London Olympics.  Oldham ended up winning a gymnastic team bronze medal representing Great Britain. 

Carbon Poker Removes Bad Beat Jackpots: Move is to Improve ‘Healthier Room Ecology’

Carbon Poker, and the entire Merge Gaming Network for that matter, has announced they will no longer be offering Bad Beat Jackpots effective once the final BBJ goes off. 

From the Carbon Poker website:

Ailing Revel Casino Seeks Help From Lenders

ATLANTIC CITY, N.J. -- (Associated Press) - Atlantic City's newest casino is seeking some breathing room from its lenders.

Following a slow start out of the gate and a $35 million operating loss, Revel is asking its lenders to increase the amount of credit it can draw on.

The casino, which opened in April, has $30 million worth of credit, but wants to increase that to $100 million.

This Sucks! Dracula Poker The Latest Online Card Room to Abruptly Shut Its Doors

Another one bites the dust and this time it’s none other than the online poker room known as Dracula Poker.  Dracula Poker închis.

Newest Theme For a Las Vegas Hotel: It’s Detroit!

Imagine taking an exciting vacation to a popular tourist destination...

Paris.

New York.

Venice.

Detroit.

Detroit? How did that get in there?

According to some folks in Las Vegas, there's no reason for it not to be on the list.

That's why the next big new hotel-casino to open in Las Vegas is going to have the theme of--wait for it--Detroit!

Thiel Sells 20 million Facebook Shares After IPO Lockup Expired

NEW YORK — (Associated Press) - Peter Thiel, one of Facebook’s earliest investors and a member of its board, was among the insiders selling stock in the social network after a lockup expired last week.

A regulatory filing on Monday said that Thiel, a former CEO at PayPal sold about 20 million shares of Facebook through affiliates such as his Founders Fund and other entities last week. The shares were sold on Thursday and Friday for between $19.27 and $20.69, for a total of about $396 million.

Heritage Sportsbook Joins the Winning Poker Network: First Time to Offer Online Poker

One of the oldest online sportsbooks, the member referral Heritage Sports, has just joined the Winning Poker Network.  A number of top sportsbooks utilize the network including Bookmaker.com, BetDSI.com, betCRIS.com and 5Dimes.  Americas Cardroom is Winning Poker Network’s marquee brand. 

‘Run It Twice’ Could Debut on PokerStars in September: Reduces All-In Variance

PokerStars, the world’s largest real money online poker room, is reportedly set to introduce “Run It Twice”, a popular feature of high stakes poker games.

Unshuffled Cards a Costly Headache for Atlantic City

Wayne Parry, Associated Press

ATLANTIC CITY, N.J. (Associated Press) — At first, it seemed like a coincidence, the kind of thing that happens from time to time at a casino, where the same number or same sequence of cards happens twice in a row.

But when the players at an April game of mini-baccarat at the Golden Nugget Atlantic City kept seeing the same sequence of cards dealt, over and over and over again, their eyes grew wide and their bets grew bigger, zooming from $10 a hand to $5,000.

Professional Poker Player Nancy Todd Wants Control Over Arkansas Casinos

Professional poker player Nancy Todd is looking to control casinos in four Arkansas counties via a ballot proposal, the Associated Press was reporting on Monday. 

Todd said that she was required to submit a new proposal after Secretary of State Mark Martin found that the measure improperly omitted a reference to a state gambling law that would be repealed. 

The ballot wording was ruled to be “unfit” by Martin’s office last week and will issue a new ruling on the amended ballot wording within the next 15 days. 

Hollywood Casino Columbus Scheduled to Open in October (2012): Biggest in Town

COLUMBUS —(Associated Press) - Developers are ready to provide a peek on Monday at the new Hollywood Casino Columbus, which will offer gambling in the state capital as the third and largest of four casinos approved by voters.

Playtech, iPoker Internet Poker Network’s Teddy Sagi to Float Energy Company Genesis

Teddy Sagi, the Israeli billionaire who founded online gambling software firm Playtech and its Web poker network iPoker, is set to float his energy company on London’s AIM this week.

Genesis Energy, a Middle East focused gas explorer, is 40 percent owned by Sagi. 

It is his intent to raise between $90m-$120m through the Initial Public Offering, valuing the group’s equity at as much as £500m.

If successful, the IPO would be the largest on Aim this year.

Tottenham Hotspur, Everton Football Clubs Join Forces With Betting Firms

Just days after the world’s largest sports betting company, Bwin, announced it has joined forces with publicly traded Manchester United as part of a sponsorship deal, two more betting firms have announced shirt sponsorships with Premier League football clubs. 

Revel in Atlantic City Loses Money First 3 Months of Operation: Other AC Casinos See Profit

ATLANTIC CITY, N.J. (Associated Press) — Atlantic City's newest casino lost $35 million in its first three months of operation, while the gambling resort's other 11 casinos posted an increase in gross operating profit.

In a report issued Friday by the state Division of Gaming Enforcement, Atlantic City's casinos excluding Revel showed a 12.5 percent increase in profit from the same period in 2011, from $136 million to $153 million.

However, revenues at the 11 casinos fell about 8 percent compared to 2011's second quarter, from $855 million to $785 million.

Software Developer Executives Arrested in Connection with ‘Online Gambling Scheme’

Several executives from a Fort Worth, Texas software development company have been arrested Friday and charged with money laundering, felony gambling and organized criminal activity.

The company, HEST Technologies, claims to develop promotional systems for sweepstakes cafes, Internet cafes and nonprofit organizations. 

Authorities allege the company's "sweepstakes" systems constitute illegal gambling devices by claiming to sell a lawful service as a means to induce people into gambling. 

Facebook Shares Hit Another All Time Low

By Alexei Oreskovic

(Reuters) - Facebook Inc (FB.O) shares sank as much 4.3 percent on Friday to set a new low, a day after early investors got the green light to sell for the first time.

More than 270 million shares owned by the early investors became available for trade on Thursday after a 3-month curb on sales ended. That's more than one-half the 421 million shares sold in its initial public offering on May 18. [ID:nL2E8JG39E]

Zynga Poker Coming to Nokia Asha Touch Devices

Nokia today announced they will bring Zynga Inc.'s global hit games, Draw Something and Zynga Poker, to Nokia Asha Touch devices in Q3 2012 as part of their partnership announced earlier this summer. Nokia Asha Touch users can soon challenge their friends to a round of the popular social drawing and guessing game, or enjoy their own virtual poker match. Zynga's Draw Something and Zynga Poker will both be free to download from the Nokia Store.

Jackson County Casino in Cherokee, North Carolina Begins Offering Live Games

As part of a compact that gives the state a portion of revenues from new live games, the Harrah’s owned Jackson County Casino began offering live blackjack at 12 tables this past Wednesday.

The 15-year-old casino on Cherokee Tribal land had previously only offered electronic variations of casino games.

Facebook Hits New Low as IPO Lock-Up Ends

SAN FRANCISCO – (Associated Press) - Facebook's stock plunged to a new low Thursday after the expiration of a ban that had prevented some early investors and insiders from dumping millions of additional shares they own in the social-networking leader.

Howard Lederer Parties it Up in Las Vegas as DOJ Now ‘Flush With Full Tilt Poker Money’

Wendeen H. Eolis of Poker Player Newspaper was the first to reveal that great news was on tap for those owed monies by Full Tilt Poker.  She’s proven to be an excellent resource for the poker community. 

On Thursday, Ms. Eolis reveals that the “face behind Full Tilt Poker” over the past several years, Howard Lederer, was seen partying it up in Las Vegas after the deal was made official. 

Pinnacle Entertainment Granted Approval to Open New Baton Rouge Riverboat Casino

Baton Rouge, La. — (Associated Press) - Pinnacle Entertainment Inc. has received approval from the Louisiana Gaming Control Board to open its new $368 million Baton Rouge casino on Aug. 29, if the riverboat passes a safety inspection.

Maryland Governor Signs Measure Expanding Gambling

ANNAPOLIS, Md. (Associated Press) — Gov. Martin O'Malley has had misgivings over the years about raising money for the state of Maryland through gambling, and while he had hoped he would only need to ask voters once whether to allow an expansion, he has decided he needs to do it again.

Zynga Adds Real Money Gambling: Spends $75k on Lobbying Efforts

The Wall Street Journal late Wednesday reported that Zynga, the publicly traded social gaming behemoth, has spent upwards of $75,000 lobbying in the United States to legalize online gambling.  The primary focus up to this point appears to be in the state of California, where a current measure to legalize Web poker in the Golden State is expected to die by month’s end.

Bwin Signs Three-Year Deal With Football Club Manchester United

The world’s largest online sports betting firm, Bwin, confirmed on Thursday that it has signed a three-year sponsorship deal with England Premier League football club Manchester United for an undisclosed amount. 

Facebook Insider Lockup Ending, Share Impact to be Seen Thursday

On Thursday (August 16, 2012) we will get to see how Wall Street reacts to a deluge of Facebook shares hitting the market following the end of a so-called “lockup period”.

Since the largest social media network went public back in May, the share price has fallen from a peak of $45 to Wednesday’s closing price of $20.74. 

Reuters Doris Frankel suggests the stock's slump may actually work in Facebook’s favor this week as insider’s may be less inclined to dump the 271 million shares that are unlocked on Thursday, hopeful of a fast recovery.