Sportingbet chairman detained
Sportingbet today announced that chairman Peter Dicks, 64, has been detained by U.S. authorities and a hearing is scheduled for later today. In a statement issued by the London-based online gaming company, which owns Paradise Poker, the Board has sought immediate temporary suspension of Sportingbet's shares pending clarification of the situation.
Gaming shares plummet in wake of arrest
Shares in the major online gaming companies have all plummeted after the announcement of Dicks' arrest. PartyGaming shares fell 12 per cent, to 103.75p; 888 dropped 15 pre cent, to 143.50p with Leisure & Gaming down 33 per cent to 73.50p.
Ministers stay silent on Glasgow casino bid
Scotland's First Minister Jack McConnell has declined to comment on the Scottish Executive's position over the planned super-casino development in Glasgow. The Executive's stance on the bid will be revealed later this year according to McConnell, who did say the Executive had 'concerns' over the social implications of the proposal.
Paddy Power posts strong first-half
Paddy Power reported a 12 per cent rise in first-half pre-tax profits to eur20.5 million and a 27 per cent increase in turnover to eur877.6 million against the same period last year. Chief executive Patrick Kennedy also announced that the bookmaker was interested in acquiring a casino license in Ireland if they are eventually legalised.
Punch trading in line with forecasts despite smoking ban
Punch Taverns has finished its financial year trading in line with forecasts despite Scotland's smoking ban. Chief executive Giles Thorley said the group had beaten the recent sales numbers from rival Greene King, who declared a 2.4 per cent drop since the ban, and the Scottish Licensed Trade Association (SLTA) who reported a 10 per cent drop in drink sales among members.
Probability raise's £13 million in float
Probability plc successfully raised £4.1 million at a valuation of £13.7 million after becoming the first casino and bingo mobile operator to float on the London Stock Market. Chief executive officer Charles Cohen called the IPO a 'clear message to potential partners, regulators and customers' that mobile gaming was a new growth sector in the worldwide gambling business.
Genting in Stanley offer
Malaysian-based Genting is thought to be the firm behind a confirmed offer for Stanley Leisure. The UK casino company acknowledged that it had received a proposal although no details of the offer price, or the name of the company behind the bid, were disclosed.
PartyGaming increase revenues outside the U.S.
PartyGaming has increased first-half revenues outside the United States to $149.8 million, an increase of 151 per cent, against a group revenue increase of 51 per cent to $661.9 million. The online gaming group reported pre-tax profits for the first half of $380 million, while its poker sites generated revenues of $502.7 million and the recently launched casinos made $159.2 million.
eCOGRA survey goes live
Online player protection and standards authority eCOGRA has launched a research initiative that will look into the behaviour and attitude of online gamblers. The survey's findings will be published in the 'eCOGRA Global Online Gambler Report' due to be launched to the public in January 2007.
VC sale could fetch £450 million
Victor Chandler could fetch as much as £450 million in a sale, according to banking sources cited by Reuters. "People are interested in de-risking from America and Victor Chandler is a big business with virtually no exposure to the U.S.," said the source. "Nearly all the major players are interested to one degree or another."
National Bingo gets £2m revamp
The National Bingo Game will launch its new identity with integrated advertising campaign next week. The £2 million overhaul by design firm The Workroom aims to 'raise the profile of the game and recruit male players'.
Macau casino lucrative from day one
Steve Wynn told reporters at the opening of his new $1.2 billion gaming complex in Macau that it would be "lucrative" from the opening day, and would take only 90 days for revenues to overtake costs. Shares in Wynn Resorts have risen 40 per cent this year, despite its Wynn Las Vegas casino reporting a loss of $20.1 million in the second quarter.
Betting Show going to the dogs
Birmingham NEC's The Betting Show (25-26 October) is holding this year's networking event, organised by Clarion ATE and Betting Business, at the Coventry dogs. Food, drink and transport to the track will be provided but numbers will be limited. To register your interest, contact
kcooke@ateonline.co.uk.
Bodog says hello to new Scarface promotion
Bodog has signed a promotion deal with Sierra Entertainment to appear in its upcoming video game Scarface: The World Is Yours. A number of mini-games in Scarface, including video poker machines, slot machines, and games of blackjack, will display the Bodog name under terms of the agreement.
Boyd to demolish Stardust
Boyd Gaming Corp. is to close its Stardust Resort and Casino in Las Vegas to make way for its planned $4 billion Echelon Place project. The Stardust will be demolished early next year, with the Echelon project due to open in 2010.
Frist still trying to push gambling bill
Senate Republican leader Bill Frist is still trying to find a way to pass a bill outlawing internet gambling according to his aides. Having not been able to put the bill before Senate, Frist wants to 'bring up the bill under unanimous consent', meaning leaders from both parties would agree to bring the bill to a vote.
Horseracing board's CEO joins Betfair
The British Horseracing Board's former chief executive officer Greg Nichols has joined Betfair as a managing director. He will be based in London and will be responsible for developing the company's relationship with sporting regulatory and governing authorities around the globe.
Pubs bracing for bed tax
A survey of nearly 300 hospitality venues by purchasing consortium Beacon has shown that more than 62 per cent of pubs, bars and restaurants think that the introduction of a bed tax would have a 'negative effect' on their business. The British Hospitality Association (BHA) also claimed that a 5 per cent bed tax would take VAT on serviced accommodation to more than 23 per cent, which would subsequently reduce inbound tourism by £220 million and domestic tourism by £325 million.