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Sports Odds And Picks
November 25th General news ... Sports Odds And Picks at sports-oddsandpicks.com
NOT ALL DOOM AND GLOOM IN ATLANTIC CITY
2014-08-25
It's not hard to lose sight of the potential of Atlantic City amid the current doom and gloom reports of failing income and land casino closures, but the New Jersey Division of Gaming Enforcement had some positive news Friday when it announced that second quarter overall gross operating profits by Atlantic City's 11 operating land casinos increased 35 percent.
Top earner was the Borgata Hotel Casino & Spa, which reached an $88 million tax settlement with the city in June. Most other casinos, while turning a profit, saw that profit decline in the second quarter.
The Borgata posted the largest operating profit at $43.2 million, compared with $28.1 million in the second quarter last year, a rise of more than 53 percent. But Joe Lupo, the casinos senior vice president, said $11.8 million of a tax settlement was applied to second quarter earnings.
The DGE figures show the casinos posted a collective gross operating profit of more than $83 million in April, May and June of this year...an increase of 34.9 percent compared with the same period last year, when New Jersey had not yet legalised Internet gambling.
Gross operating profit reflects earnings before interest, taxes, depreciation and other charges, and is a widely accepted indicator of profitability in the casino industry.
IRISH SPORTS BROADCASTER IN MOBILE TALKS
2014-07-09
The Irish sports broadcaster Setanta NFL Betting Lines Sports is reportedly in discussions with mobile communications network provider Three Ireland for a mobile virtual network operator (MVNO) accreditation, reports The Irish Times.
MVNO status would enable Setanta to deliver information and mobile gambling services to its customers on the 3 backbone, enabling the broadcaster to launch a package deal offering TV, phone and mobile broadband services, along with access to Setanta Go, an online website delivering live feeds of all Setanta and BT Sport channels.
The European Commission has recently approved Threes acquisition of O2 Ireland, under conditions to ensure continued competitiveness in the Irish market. Part of this agreement includes Threes obligation to establish two MVNOs on its network.
Deals with UPC and Carphone Warehouse already fill this quota and both these companies have scheduled their mobile network launches for 2015, while Setantas network could be live before the end of 2014.
Setanta has reportedly hired Leo Hassett, former head of mobile business development at Eircom, to advise on its mobile plans.
GTECH AND I.G.T. IN ACQUISITION TALKS
2014-06-17
Starting the week off with a bang is the announcement by gambling and lottery supplier group GTECH that it is in 'preliminary' talks with contemporary U.S. firm International Game Technology with the objective of buying the American company.
"This transaction could potentially involve the use of a mix of cash and equity as consideration," GTECH told the Reuters news agency, adding it did not anticipate needing a cash call to fund the acquisition.
GTECH said it had hired advisers to help it in the talks.
In a coordinated response, IGT issued a rather wooly statement advising:
"IGT regularly considers, and on occasion explores, a broad range of strategic alternatives, including but not limited to business combinations, changes to our capital structure and adjustments to our portfolio of businesses, with the goal of maximizing shareholder value.
"The IGT Board of Directors and senior management are currently engaged in such an exploration, but no decisions have been made by the Board regarding any particular alternative available to the Company and there can be no assurances that any transaction or other strategic change will be entered into as a result of the current exploration of alternatives.
"IGT does not intend to discuss or disclose developments with respect to this general subject unless and until the Board has approved a definitive course of action."
ENTWINE TECH TO STREAM LIVE DEALER ACTION FROM A U.K. CASINO
2014-04-08
Live dealer online gambling provider Entwine Tech has inked a deal with Birmingham, England's Rainbow land casino which will allow the Philippines-based company to stream live gambling action to online players.
Ian Dunning, a spokesman for Entwine, said Tuesday:
This is a major step forward in Live Dealer gaming and EntwineTech is proud to be the first company to bring this enhancement to the mass market.
"Feedback from our seventy plus operators has been very positive and we expect a huge take up of this product. The live feed from Rainbow Casino will be available to our partners across the globe under our Alderney / FCLRC licences, however due to the current UK online gaming law restriction; we will not serve UK players at this stage."
Rainbow Casino is wholly owned by Double Diamond Gaming Limited, and is the premier casino in Birmingham. Opened in November 2010, the casino is situated in a fully refurbished historic building and offers customers a full range of casino games and amenities.
ATLANTIC CLUB SAGA CONTINUES (Update)
2014-02-26
In a move that is probably now of merely academic interest to the online gambling industry, the losing bidder in the auctioning-off of the failed Atlantic Club Casino has said it intends to seek a re-hearing and review of its bid, which was a million dollars better than that submitted by the winners, Caesars Entertainment and Tropicana Entertainment (see previous InfoPowa reports).
According to a report in the Press of Atlantic City, Sobe Holdings LLC will submit the rehearing request on Monday, and if it is refused the company will take the matter to an appeal court.
Although the Sobe bid was higher, but Atlantic City Chief Judge Gloria Burns felt that the Caesars-Tropicana bid carried less risk.
Sobe disagrees with this assessment, and says that instead of stripping the company and retrenching its employees, it wants to revamp and rebrand the property and re-open it as a going concern.
The company has the necessary experience, as it operates and owns Deauville Beach Resort in Miami Beach, Florida.
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