NSW Hospitality Minister George Souris has declined to express confidence in Sydney's The Star after the casino's operator was ordered to explain the CEO's sacking.
The Casino Control Authority is considering the casino's explanation of the events that led to the sacking of its CEO, Sid Vaikunta, amid claims of inappropriate behaviour.
Asked if he had confidence in the way the casino has operated, Mr Souris on Tuesday told reporters: "I would prefer not to make those comments right now".
However, he said, he did have confidence in a licensing report handed down last year.
"The licence has been renewed," he said.
"To the extent that I had confidence in the report that I was given and the announcement that I made at the time before Christmas ... those feelings have not abated.
"But, in the light of information that has now come with the departure of the managing director, then this is grounds for further investigation.
"We await the outcome of proceedings and finally an outcome of a report or recommendations."
Last Thursday, the CEO of the casino's operator Echo Entertainment, Larry Mullin, said Mr Vaikunta's employment at the casino had ended because of "his behaviour in a social work setting".
Fairfax on Tuesday reported that previous investigations had warned of a culture of drug and alcohol abuse amongst senior casino management, as well as concerns about how the casino dealt with criminal activity on the premises.
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Wednesday, February 8, 2012
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Lasseter's Hotel correction - 8th February 2012
Profiles
Lasseter's Hotel Casino Casinos Australia
The company that owns the Lasseter's Hotel Casino says the Alice Springs operation is in a strong financial position as it presses ahead with a $35 million expansion.
Last month, the ABC incorrectly reported the company recorded a consolidated loss last financial year of $78,000.
That report actually referred to the Lasseter's Corporation's online gaming company, which ceased trading in 2008.
The business that owns the Alice Springs casino is Ford Dynasty.
Lasseter's Hotel Casino and Lasseter's Corporation are no longer related business entities.
Ford Dynasty has provided the ABC with a report for the financial year ending June 30, 2011.
The report confirms the casino was not operating at a loss last financial year. (Credit: ABC)
Lasseter's Hotel Casino Casinos Australia
The company that owns the Lasseter's Hotel Casino says the Alice Springs operation is in a strong financial position as it presses ahead with a $35 million expansion.
Last month, the ABC incorrectly reported the company recorded a consolidated loss last financial year of $78,000.
That report actually referred to the Lasseter's Corporation's online gaming company, which ceased trading in 2008.
The business that owns the Alice Springs casino is Ford Dynasty.
Lasseter's Hotel Casino and Lasseter's Corporation are no longer related business entities.
Ford Dynasty has provided the ABC with a report for the financial year ending June 30, 2011.
The report confirms the casino was not operating at a loss last financial year. (Credit: ABC)
PartyCasino New Players Get Up To $3000 Sign Up Bonus
PartyCasino.com new players get up to $3000 sign up bonus
Monday, February 6, 2012
Casino News: Bwin.Party, Fertitta Interactive Applies for NV Online Gaming License, Stallone Casino Talk, Australia...
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Gaming Casinos PartyGaming Bwin.Party Digital Entertainment World Casino Directory
Bwin.Party CEO Sees Legal Online Gaming In US Soon...
-Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) chief Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking on the fringes of the ICE online gambling conference in London, the co-chief executive cautioned that setting it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations probably won't get off the ground before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year signed a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confident tone comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the$105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told Dow Jones the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
Fertitta Interactive Applies for NV Online Gaming License...
The list of brick and mortar casino owners applying for Nevada intrastate online gaming licenses just keeps growing. Fertitta Interactive is the latest organization to submit an application.
Fertitta Interactive is partially owned by Frank and Lorenzo Fertitta, owners of the popular Station Casinos as well as the Ultimate Fighting Championship brand. Former Golden Nugget owners Tim Poster and Tom Breitling also have a stake in Fertitta Interactive. The company acquired software provider CyberArts in the fall of 2011 and they are now taking steps to be a force in the online gambling world.
“We support the regulation of online poker,” said Lorenzo Fertitta, founder of Fertitta Interactive, in a Thursday press release. “Our industry leading software has a track record of complying with the strictest regulations in jurisdictions around the world. Nevada has always been the leader in gaming regulation and we’re pleased to file our application here. Our goal is to provide customers with the best online gaming experience in a safe and well-regulated online environment.”
CyberArts currently supplies its Foundation Poker software to the free play site PurePlay poker. Fertitta Interactive is now one of a dozen companies who have applied for licenses along with brick and morter entities MGM Resorts, Caesars Entertainment, Boyd Gaming, Monarch Casino, and South Point. Software providers Cantor Gaming, IGT, 888 Holdings, Shuffle Master, Aristocrat Technologies, and Bally Technologies have also applied for licenses.
Fertitta’s announcement is the latest in a string of announcements from Las Vegas gaming companies that indicate that regulated online gambling appears to be happening in the near future. Earlier this week, Caesars Interactive and longtime European partner 88 Holdings revealed they are expanding their partnership to include US gaming. Online free money gaming juggernaut Zynga also hinted last month that a real money venture could be a possibility in the future as well.
Ocean’s Eleven Cyprus Style...
Every now and again reports surface about the creation of casinos in Cyprus. Over the past couple of months the frequency of these rumours has increased considerably with various ministers (finance, communications etc) being quoted and billionaire investors itching to be the first to acquire the much coveted licence.
This goes against the President’s anti-gambling principles who stated a couple of years ago that as long as he is in power there will be no casinos. However an Akel MP (Mouskallis) said around the same time that AKEL will favour the creation of a casino provided the time is right. It appears that the recession, rising unemployment, shortage of liquidity are conditions for such an initiative.
However when walking around the main cities one comes across shops with a massive sign hanging outside stating ‘Casino’ or to be more precise ‘On Line Casino’. According to unofficial reports there are said to be close to 200 such establishments. There is even one called the Bellagio which was raided recently by police but no Danny Ocean’s or Reuben Tishkoffs were arrested.
Of course there are plenty of proper ‘pseudo’ casinos in the occupied parts which are crammed with Greeks. The recent rumours though have alarmed the president of the Casinos Association in the north, Mr. Etsensoi, as the realization of such rumours will have a disastrous effect on their industry.
Stay tuned for more from Cyprus.
Anti-gambling pamphlets direct users to TAB hotline...
The Victorian Government has been forced to pulp pamphlets aimed at problem gamblers which directed them to a phone line encouraging them to bet.
The pamphlet for people who want to exclude themselves from gaming venues directs callers to a TAB hotline, where gambling products are promoted.
Victorian Gaming Minister Michael O'Brien says it was an oversight.
"The telephone number that was used for self exclusion was the Tabcorp customer service number," he said.
"It is possible to access self-exclusion services from that general number, but the Victorian Government believes, and Tabcorp and Gambler's Help also agree, that it's far better if the distinct self-exclusion number is used in the future."
The bungle comes as the State Government announces it has decided to delay the introduction of pre-commitment technology for poker machines.
The Government promised before the last election to introduce voluntary pre-commitment by 2013, giving punters the option to set a gambling limit.
But Mr O'Brien says the plan is being delayed until 2016 because confusion around the Federal Government's plans for mandatory pre-commitment would make it too complicated.
"There's the risk that that may be incompatible with what the Federal Government requires," he said.
He says the Victorian Government is committed to introducing voluntary limits.
"We believe that every gaming machine in this state should have pre-commitment on it, we think that's an option that is there for every single player who wants to track their expenditure, help set themselves limits," he said.
"We think that will lead to a much more responsible gambling industry and that's what we want to see here in Victoria and that's what we thing the community wants to see as well."
The move has angered anti-pokies campaigner, Tim Costello, who says the Government is making excuses for doing nothing.
"Proof again of the utter capture of state governments' by the gambling lobby," he said.
NSW deals with its own pokies pressure...
The New South Wales Government has been accused of ignoring problem gambling through recent changes to poker machine laws.
Premier Barry O'Farrell struck a deal with NSW clubs in the lead-up to last year's state election.
A memorandum of understanding was struck which led to legislative changes allowing clubs to build another site without giving up as many poker machine licenses.
The concession was initially only granted in the proposed club was within a new housing estate.
But on Friday the minister responsible, George Souris, expanded the concession to clubs building within a kilometre of a new housing estate.
Opposition Leader John Robertson says Mr Souris has undermined Federal Government efforts to tackle problem gambling.
"We have a government in New South Wales that's actually trying to make it easier for clubs to relocate poker machines around the state, while we've got a Prime Minister who's trying to look at how we can address problem gambling," he said.
"The contrast couldn't be more stark. Barry O'Farrell, who wants to allow and make it easier for poker machines to be relocated, and a Prime Minister who is at least looking at ways that we can reduce problem gambling."
Greens MP John Kaye shares Labor's concerns.
"It has made the laws easier for clubs to move their pokers machines into areas of high concentration of potential addiction," Dr Kaye said.
Meanwhile a spokesman for Premier Barry O'Farrell says the the State Government will hold talks with the Commonwealth about potentially extending a trial of pre-commitment technology into NSW.
Prime Minister Julia Gillard announced on the weekend that mandatory pre-commitment for poker machines would be trialled in the ACT.
The Federal Government wants clubs just across the border in Yass and Queanbeyan to be included, to stop punters from skirting the trial.
Mr O'Farrell's spokesman says the Premier is opposed to the technology but will wait for a full briefing.
A bid to lure Asian punters to cost a billion dollars plus...
Billionaire James Packer has already spent hundreds of millions of dollars upgrading the Burswood Casino complex and is reported to be willing to spend a billion dollars more revamping it.
It is all part of a bid to attract more oriental customers to Australia.
In December, Mr Packer revealed his Perth-based casino would be re-branded Crown Perth in the second half of 2012.
"It will allow Burswood to utilise the internationally recognised Crown brand in order to increase the number of international and interstate visitors to Perth, especially from the strategically important China market," he said.
The plan is to offer an "integrated resort" - a term more frequently used in the Macau region.
Such a resort is a one stop shop - it is a large scale development which incorporates a number of facilities such as a casino, accommodation, retail shops, restaurants, bars and nightclubs, cinemas, galleries and even theme parks.
Mr Packer believes integrated resorts growing international tourism and he is in negotiations with the State Government to purchase land to build a new five star hotel and entertainment complex on the Burswood site.
The Burswood Entertainment Complex is already undergoing a $750 million upgrade which is due to be completed by the end of the year.
Mr Packer thinks Australia can crack the Asian market in integrated resorts, a concept that has been highly successful for Asian neighbour Singapore.
Two integrated casinos, Resorts World Sentosa and Marina Bay Sands, were opened there in 2010 and have been highly profitable.
Mr Packer is hoping to emulate this.
"Marina Bay Sands is the most profitable casino in the world," he said.
"Singapore's gross domestic product increased by 14.5 per cent in 2010."
Citi equities analyst Jenny Owen says the tourism boost from these casinos to the Singaporean economy is evident.
"Inbound arrivals grew 20 per cent in 2010 and 15 per cent in the third quarter of the 2010-2011 financial year and tourism revenue grew by 49 percent in 2010," she said.
"The evidence from Singapore is that if you build it, they will come, and the economic benefits extend beyond the direct casino revenues."
Resort World and Marina Bay Sands are predicted to generate a revenue of more than US$71 billion by 2015.
A PricewaterhouseCoopers (PWC) report is forecasting the Asia Pacific will be the fastest growing region for casino gaming in the next five years.
It predicts that Asia Pacific will overtake the United States as the world's largest casino market in 2013, with a compound annual revenue growth rate of 18.3 per cent between 2011 and 2015.
PWC says Australian casinos are finding it hard to attract high spenders from other countries due to increased competition from Singapore and Macau.
This increased competition was partially to blame for the 8.6 per cent fall in Burswood's 2011 financial year earnings before tax.
The casino's VIP program play revenue also fell, to $535 million last financial year.
Overall, international visitors contribute to 37 per cent of the casino's revenue and part of Mr Packer's strategy is to source new customers from China in order to compete with Singapore and Macau.
Ms Owen says Asian tourists represent the only meaningful growth segment in the near term.
"Inbound tourists from Asian countries spend much more on average on gambling while visiting Australia than tourists from other countries," she said.
"It would seem that revenues are available for Australia to grow its share of the international casino tourists' wallets."
She says the upgrades are also about Australia gaining back its share of the region's gaming market.
"Australia's share of gaming revenue in the South East Asia region has fallen from 30 per cent to 9 per cent in past five years," she said.
"There is money in casinos, particularly those located near Asia."
Apart from the United Kingdom, most of the visitors to Perth come from Asia.
Tourism Research Australia found visitors from Asian countries spent $919 million during their time in WA, almost half the total spent by international tourists.
Tourism Research Australia also found Perth is a popular destination for people from Asia with Singaporeans, Malaysians and Indonesians the state's top Asian markets.
The Tourism Minister Kim Hames says China is WA's fastest growing market in terms of economic value, worth $3.4 billion.
He is hoping for a fivefold increase in Chinese visitor numbers.
"Visitors to WA from China have increased by 55.8 percent to 18,700 for the year ending September 2011," he said.
"The aim is to increase the number of Chinese visitors to WA from the current level to 100,000 a year by 2020.
" Introducing direct flights between Perth and China is part of the strategy and China Southern Airlines is now operating services three times a week".
Dr Hames says he supports the Burswood redevelopment.
"There is no doubt that Chinese tourists would be attracted to a world class integrated resort in Perth and the development of Burswood presents an opportunity for the WA tourism industry," he said.
Apart from the casino complex, Burswood is set to be transformed into a major tourist precinct with the State Government decision to build the new 60,000 seat sports stadium at the site.
Despite the State Opposition's demands that Mr Packer contribute funds towards the sporting complex, Dr Hames says it is not appropriate.
" We saw the evidence of private companies investing in partnership with Government during the WA Inc years and frankly it turned out to be a disaster," he said.
"This is public instructure and we think it is appropriate that the State Government and hopefully the Commonwealth Government fund state infrastructure."
He would prefer Mr Packer to build his hotel.
"We are desperately short of hotels in this state," he said.
"I would much rather put his money into a private enterprise project like a new hotel than starting to do deals with private companies to get public infrastructure."
Mr Packer isn't arguing.
"If we were asked to do that at the beginning, our response would have been we are not in the stadium business, they are not a great business," he said.
"Now the Premier has decided to put it there we are very grateful and I think it is the right place.
Mr Packer believes the expansion of his casino and the new stadium will fundamentally change Burswood.
" I think the Burswood peninsula can be one of those waterfront precincts that really has the opportunity to be something special".
And, will hopefully encourage tourists to flock to Western Australia.
Bwin.Party Digital Entertainment Responds to DoJ Indictment against Megaupload...
Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.
According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.
As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.
John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”
However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.
Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.
Megaupload Data 'To Be Destroyed In Days'...
Megaupload founder Kim Dotcom
American prosecutors have warned that data from users of file-sharing site Megaupload could be deleted from host servers within days.
US officials have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.
Megaupload previously hired outside companies to store clients' data but its lawyer, Ira Rothken, said the US government has restricted this by freezing its funds.
A letter filed by prosecutors on January 27 said storage companies Carpathia Hosting and Cogent Communications Group may begin deleting data from Thursday onwards.
Representatives of the two companies declined to comment on the move.
Last week site founder Kim Dotcom, who was accused of internet piracy, was denied bail in New Zealand ahead of an extradition bid by the US.
The US Department of Justice took control of the company's website and posted an FBI anti-piracy warning.
New Zealand police allegedly found Dotcom - formerly known as Kim Schmitz - in a sealed panic room at his leased mansion.
Officers seized assets worth $50m (£32m) in the raid, including guns, artwork, luxury cars and $8m in cash.
In response, anarchic freedom of speech campaigners launched a cyber attack on US government and mainstream music industry websites.
Mr Rothken said Megaupload is working with prosecutors to try to keep the masses of data from being erased.
He advised at least 50 million Megaupload users around the world are in danger of losing files.
Mr Rothken said that, besides its customers, the data is important to Megaupload so it can defend itself in the legal case.
"We're cautiously optimistic at this point that because the United States, as well as Megaupload, should have a common desire to protect consumers, that this type of agreement will get done," he said.
Some legitimate site users, such as software developers, have complained that their data has been inaccessible since US officials took action against the company.
Megaupload mansion in New Zealand
Internet Gambling Coming to an American State Near You? What the DOJ’s Change of Heart Means for the Immediate Future of Internet Gambling...
Reeling from the federal shutdown of the three biggest Internet gambling websites in April 2011, there was little confidence left in the online gambling industry that the U.S. was any closer to legalizing online gambling as 2012 neared. The Unlawful Internet Gambling Enforcement Act (UIGEA) offered a glimmer of hope to states seeking to legalize intrastate online gambling, but the statute seemingly left the Wire Act’s prohibitions in tact. Chances of Congressional action evaporated after two bills calling for federal legalization of online gambling were shelved indefinitely in the fall.
On December 23, 2011, however, in response to several state lottery requests that the DOJ formally reiterate its position on whether the Wire Act prohibits non-sports interstate gambling transmissions, the Department announced it was abandoning its long-held position that the Wire Act proscribed all forms of Internet gambling. The DOJ reversed course, officially adopting the view that the Wire Act only prohibits interstate sports gambling transmissions, allowing states to offer lottery games over the Internet to in-state customers without fear of violating federal law.
While this was certainly welcome news to the state lottery boards, the biggest winner is undoubtedly the Internet gambling community. The DOJ long-maintained that all Internet gambling transmissions, even intrastate ones, violated the Wire Act, arguing that all Internet transmissions inherently travel across state lines. This position effectively prohibited all forms of online gambling in the U.S. Under the DOJ’s new interpretation, however, only Internet sports bets violate the Wire Act, enabling states that choose to do so, to legalize casino-style (non-sports) Internet gambling.
Under the DOJ’s new take on the Wire Act, states that legalize online gambling will still have to comply with certain federal regulations. UIGEA provides that intrastate online gambling is not considered “unlawful” so long as the state utilizes certain safeguards to ensure that the bettor is physically located in a state where Internet gambling is legal and that the bettor is at least 18 years of age. Sports betting over the Internet is still proscribed by the Wire Act.
As states strapped for cash desperately search for new sources of revenue, expect state-regulated online gambling to get a good, hard look from many state legislatures in 2012. It may not be long before a revitalized online gambling industry in the U.S. ushers in federal legalization.
Sylvester Stallone coming to Fallsview Casino...
Don’t worry Rambo and Rocky fans, Sylvester Stallone is not coming to the Fallsview Casino to flog some product. No, the ‘Italian Stallion’ is coming to do two nights of intimate Q&A’s about his career on the weekend of February 24 and 25. Should be interesting for big fans of the action star with a spare $90.
Stallone, who will be seen later this summer in The Expendables 2, is the third actor to do an An Evening with… at the Fallsview Casino. Al Pacino and Sean Penn have both appeared on stage there last year.
For more info and to purchase tickets, visit fallsviewcasinoresort.com.
Official info:
An Evening with Sylvester Stallone
Friday, February 24 and Saturday, February 25
Showtime: 9 p.m., doors open at 8 p.m.
Tickets start at $90
Known for his roles as Rocky Balboa in the Rocky movies, John Rambo in the Rambo movies and most recently Barney Ross in The Expendables, Sylvester Stallone has had a tremendous career. Don’t miss your opportunity to spend an evening with the movie legend Sylvester Stallone, LIVE, on stage for a candid interview and Q&A session with the audience that will highlight his extraordinary career and life.
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Bwin.Party CEO Sees Legal Online Gaming In US Soon...
-Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) chief Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking on the fringes of the ICE online gambling conference in London, the co-chief executive cautioned that setting it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations probably won't get off the ground before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year signed a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confident tone comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the$105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told Dow Jones the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
Fertitta Interactive Applies for NV Online Gaming License...
The list of brick and mortar casino owners applying for Nevada intrastate online gaming licenses just keeps growing. Fertitta Interactive is the latest organization to submit an application.
Fertitta Interactive is partially owned by Frank and Lorenzo Fertitta, owners of the popular Station Casinos as well as the Ultimate Fighting Championship brand. Former Golden Nugget owners Tim Poster and Tom Breitling also have a stake in Fertitta Interactive. The company acquired software provider CyberArts in the fall of 2011 and they are now taking steps to be a force in the online gambling world.
“We support the regulation of online poker,” said Lorenzo Fertitta, founder of Fertitta Interactive, in a Thursday press release. “Our industry leading software has a track record of complying with the strictest regulations in jurisdictions around the world. Nevada has always been the leader in gaming regulation and we’re pleased to file our application here. Our goal is to provide customers with the best online gaming experience in a safe and well-regulated online environment.”
CyberArts currently supplies its Foundation Poker software to the free play site PurePlay poker. Fertitta Interactive is now one of a dozen companies who have applied for licenses along with brick and morter entities MGM Resorts, Caesars Entertainment, Boyd Gaming, Monarch Casino, and South Point. Software providers Cantor Gaming, IGT, 888 Holdings, Shuffle Master, Aristocrat Technologies, and Bally Technologies have also applied for licenses.
Fertitta’s announcement is the latest in a string of announcements from Las Vegas gaming companies that indicate that regulated online gambling appears to be happening in the near future. Earlier this week, Caesars Interactive and longtime European partner 88 Holdings revealed they are expanding their partnership to include US gaming. Online free money gaming juggernaut Zynga also hinted last month that a real money venture could be a possibility in the future as well.
Ocean’s Eleven Cyprus Style...
Every now and again reports surface about the creation of casinos in Cyprus. Over the past couple of months the frequency of these rumours has increased considerably with various ministers (finance, communications etc) being quoted and billionaire investors itching to be the first to acquire the much coveted licence.
This goes against the President’s anti-gambling principles who stated a couple of years ago that as long as he is in power there will be no casinos. However an Akel MP (Mouskallis) said around the same time that AKEL will favour the creation of a casino provided the time is right. It appears that the recession, rising unemployment, shortage of liquidity are conditions for such an initiative.
However when walking around the main cities one comes across shops with a massive sign hanging outside stating ‘Casino’ or to be more precise ‘On Line Casino’. According to unofficial reports there are said to be close to 200 such establishments. There is even one called the Bellagio which was raided recently by police but no Danny Ocean’s or Reuben Tishkoffs were arrested.
Of course there are plenty of proper ‘pseudo’ casinos in the occupied parts which are crammed with Greeks. The recent rumours though have alarmed the president of the Casinos Association in the north, Mr. Etsensoi, as the realization of such rumours will have a disastrous effect on their industry.
Stay tuned for more from Cyprus.
Anti-gambling pamphlets direct users to TAB hotline...
The Victorian Government has been forced to pulp pamphlets aimed at problem gamblers which directed them to a phone line encouraging them to bet.
The pamphlet for people who want to exclude themselves from gaming venues directs callers to a TAB hotline, where gambling products are promoted.
Victorian Gaming Minister Michael O'Brien says it was an oversight.
"The telephone number that was used for self exclusion was the Tabcorp customer service number," he said.
"It is possible to access self-exclusion services from that general number, but the Victorian Government believes, and Tabcorp and Gambler's Help also agree, that it's far better if the distinct self-exclusion number is used in the future."
The bungle comes as the State Government announces it has decided to delay the introduction of pre-commitment technology for poker machines.
The Government promised before the last election to introduce voluntary pre-commitment by 2013, giving punters the option to set a gambling limit.
But Mr O'Brien says the plan is being delayed until 2016 because confusion around the Federal Government's plans for mandatory pre-commitment would make it too complicated.
"There's the risk that that may be incompatible with what the Federal Government requires," he said.
He says the Victorian Government is committed to introducing voluntary limits.
"We believe that every gaming machine in this state should have pre-commitment on it, we think that's an option that is there for every single player who wants to track their expenditure, help set themselves limits," he said.
"We think that will lead to a much more responsible gambling industry and that's what we want to see here in Victoria and that's what we thing the community wants to see as well."
The move has angered anti-pokies campaigner, Tim Costello, who says the Government is making excuses for doing nothing.
"Proof again of the utter capture of state governments' by the gambling lobby," he said.
NSW deals with its own pokies pressure...
The New South Wales Government has been accused of ignoring problem gambling through recent changes to poker machine laws.
Premier Barry O'Farrell struck a deal with NSW clubs in the lead-up to last year's state election.
A memorandum of understanding was struck which led to legislative changes allowing clubs to build another site without giving up as many poker machine licenses.
The concession was initially only granted in the proposed club was within a new housing estate.
But on Friday the minister responsible, George Souris, expanded the concession to clubs building within a kilometre of a new housing estate.
Opposition Leader John Robertson says Mr Souris has undermined Federal Government efforts to tackle problem gambling.
"We have a government in New South Wales that's actually trying to make it easier for clubs to relocate poker machines around the state, while we've got a Prime Minister who's trying to look at how we can address problem gambling," he said.
"The contrast couldn't be more stark. Barry O'Farrell, who wants to allow and make it easier for poker machines to be relocated, and a Prime Minister who is at least looking at ways that we can reduce problem gambling."
Greens MP John Kaye shares Labor's concerns.
"It has made the laws easier for clubs to move their pokers machines into areas of high concentration of potential addiction," Dr Kaye said.
Meanwhile a spokesman for Premier Barry O'Farrell says the the State Government will hold talks with the Commonwealth about potentially extending a trial of pre-commitment technology into NSW.
Prime Minister Julia Gillard announced on the weekend that mandatory pre-commitment for poker machines would be trialled in the ACT.
The Federal Government wants clubs just across the border in Yass and Queanbeyan to be included, to stop punters from skirting the trial.
Mr O'Farrell's spokesman says the Premier is opposed to the technology but will wait for a full briefing.
A bid to lure Asian punters to cost a billion dollars plus...
Billionaire James Packer has already spent hundreds of millions of dollars upgrading the Burswood Casino complex and is reported to be willing to spend a billion dollars more revamping it.
It is all part of a bid to attract more oriental customers to Australia.
In December, Mr Packer revealed his Perth-based casino would be re-branded Crown Perth in the second half of 2012.
"It will allow Burswood to utilise the internationally recognised Crown brand in order to increase the number of international and interstate visitors to Perth, especially from the strategically important China market," he said.
The plan is to offer an "integrated resort" - a term more frequently used in the Macau region.
Such a resort is a one stop shop - it is a large scale development which incorporates a number of facilities such as a casino, accommodation, retail shops, restaurants, bars and nightclubs, cinemas, galleries and even theme parks.
Mr Packer believes integrated resorts growing international tourism and he is in negotiations with the State Government to purchase land to build a new five star hotel and entertainment complex on the Burswood site.
The Burswood Entertainment Complex is already undergoing a $750 million upgrade which is due to be completed by the end of the year.
Mr Packer thinks Australia can crack the Asian market in integrated resorts, a concept that has been highly successful for Asian neighbour Singapore.
Two integrated casinos, Resorts World Sentosa and Marina Bay Sands, were opened there in 2010 and have been highly profitable.
Mr Packer is hoping to emulate this.
"Marina Bay Sands is the most profitable casino in the world," he said.
"Singapore's gross domestic product increased by 14.5 per cent in 2010."
Citi equities analyst Jenny Owen says the tourism boost from these casinos to the Singaporean economy is evident.
"Inbound arrivals grew 20 per cent in 2010 and 15 per cent in the third quarter of the 2010-2011 financial year and tourism revenue grew by 49 percent in 2010," she said.
"The evidence from Singapore is that if you build it, they will come, and the economic benefits extend beyond the direct casino revenues."
Resort World and Marina Bay Sands are predicted to generate a revenue of more than US$71 billion by 2015.
A PricewaterhouseCoopers (PWC) report is forecasting the Asia Pacific will be the fastest growing region for casino gaming in the next five years.
It predicts that Asia Pacific will overtake the United States as the world's largest casino market in 2013, with a compound annual revenue growth rate of 18.3 per cent between 2011 and 2015.
PWC says Australian casinos are finding it hard to attract high spenders from other countries due to increased competition from Singapore and Macau.
This increased competition was partially to blame for the 8.6 per cent fall in Burswood's 2011 financial year earnings before tax.
The casino's VIP program play revenue also fell, to $535 million last financial year.
Overall, international visitors contribute to 37 per cent of the casino's revenue and part of Mr Packer's strategy is to source new customers from China in order to compete with Singapore and Macau.
Ms Owen says Asian tourists represent the only meaningful growth segment in the near term.
"Inbound tourists from Asian countries spend much more on average on gambling while visiting Australia than tourists from other countries," she said.
"It would seem that revenues are available for Australia to grow its share of the international casino tourists' wallets."
She says the upgrades are also about Australia gaining back its share of the region's gaming market.
"Australia's share of gaming revenue in the South East Asia region has fallen from 30 per cent to 9 per cent in past five years," she said.
"There is money in casinos, particularly those located near Asia."
Apart from the United Kingdom, most of the visitors to Perth come from Asia.
Tourism Research Australia found visitors from Asian countries spent $919 million during their time in WA, almost half the total spent by international tourists.
Tourism Research Australia also found Perth is a popular destination for people from Asia with Singaporeans, Malaysians and Indonesians the state's top Asian markets.
The Tourism Minister Kim Hames says China is WA's fastest growing market in terms of economic value, worth $3.4 billion.
He is hoping for a fivefold increase in Chinese visitor numbers.
"Visitors to WA from China have increased by 55.8 percent to 18,700 for the year ending September 2011," he said.
"The aim is to increase the number of Chinese visitors to WA from the current level to 100,000 a year by 2020.
" Introducing direct flights between Perth and China is part of the strategy and China Southern Airlines is now operating services three times a week".
Dr Hames says he supports the Burswood redevelopment.
"There is no doubt that Chinese tourists would be attracted to a world class integrated resort in Perth and the development of Burswood presents an opportunity for the WA tourism industry," he said.
Apart from the casino complex, Burswood is set to be transformed into a major tourist precinct with the State Government decision to build the new 60,000 seat sports stadium at the site.
Despite the State Opposition's demands that Mr Packer contribute funds towards the sporting complex, Dr Hames says it is not appropriate.
" We saw the evidence of private companies investing in partnership with Government during the WA Inc years and frankly it turned out to be a disaster," he said.
"This is public instructure and we think it is appropriate that the State Government and hopefully the Commonwealth Government fund state infrastructure."
He would prefer Mr Packer to build his hotel.
"We are desperately short of hotels in this state," he said.
"I would much rather put his money into a private enterprise project like a new hotel than starting to do deals with private companies to get public infrastructure."
Mr Packer isn't arguing.
"If we were asked to do that at the beginning, our response would have been we are not in the stadium business, they are not a great business," he said.
"Now the Premier has decided to put it there we are very grateful and I think it is the right place.
Mr Packer believes the expansion of his casino and the new stadium will fundamentally change Burswood.
" I think the Burswood peninsula can be one of those waterfront precincts that really has the opportunity to be something special".
And, will hopefully encourage tourists to flock to Western Australia.
Bwin.Party Digital Entertainment Responds to DoJ Indictment against Megaupload...
Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.
According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.
As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.
John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”
However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.
Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.
Megaupload Data 'To Be Destroyed In Days'...
Megaupload founder Kim Dotcom
American prosecutors have warned that data from users of file-sharing site Megaupload could be deleted from host servers within days.
US officials have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.
Megaupload previously hired outside companies to store clients' data but its lawyer, Ira Rothken, said the US government has restricted this by freezing its funds.
A letter filed by prosecutors on January 27 said storage companies Carpathia Hosting and Cogent Communications Group may begin deleting data from Thursday onwards.
Representatives of the two companies declined to comment on the move.
Last week site founder Kim Dotcom, who was accused of internet piracy, was denied bail in New Zealand ahead of an extradition bid by the US.
The US Department of Justice took control of the company's website and posted an FBI anti-piracy warning.
New Zealand police allegedly found Dotcom - formerly known as Kim Schmitz - in a sealed panic room at his leased mansion.
Officers seized assets worth $50m (£32m) in the raid, including guns, artwork, luxury cars and $8m in cash.
In response, anarchic freedom of speech campaigners launched a cyber attack on US government and mainstream music industry websites.
Mr Rothken said Megaupload is working with prosecutors to try to keep the masses of data from being erased.
He advised at least 50 million Megaupload users around the world are in danger of losing files.
Mr Rothken said that, besides its customers, the data is important to Megaupload so it can defend itself in the legal case.
"We're cautiously optimistic at this point that because the United States, as well as Megaupload, should have a common desire to protect consumers, that this type of agreement will get done," he said.
Some legitimate site users, such as software developers, have complained that their data has been inaccessible since US officials took action against the company.
Megaupload mansion in New Zealand
Internet Gambling Coming to an American State Near You? What the DOJ’s Change of Heart Means for the Immediate Future of Internet Gambling...
Reeling from the federal shutdown of the three biggest Internet gambling websites in April 2011, there was little confidence left in the online gambling industry that the U.S. was any closer to legalizing online gambling as 2012 neared. The Unlawful Internet Gambling Enforcement Act (UIGEA) offered a glimmer of hope to states seeking to legalize intrastate online gambling, but the statute seemingly left the Wire Act’s prohibitions in tact. Chances of Congressional action evaporated after two bills calling for federal legalization of online gambling were shelved indefinitely in the fall.
On December 23, 2011, however, in response to several state lottery requests that the DOJ formally reiterate its position on whether the Wire Act prohibits non-sports interstate gambling transmissions, the Department announced it was abandoning its long-held position that the Wire Act proscribed all forms of Internet gambling. The DOJ reversed course, officially adopting the view that the Wire Act only prohibits interstate sports gambling transmissions, allowing states to offer lottery games over the Internet to in-state customers without fear of violating federal law.
While this was certainly welcome news to the state lottery boards, the biggest winner is undoubtedly the Internet gambling community. The DOJ long-maintained that all Internet gambling transmissions, even intrastate ones, violated the Wire Act, arguing that all Internet transmissions inherently travel across state lines. This position effectively prohibited all forms of online gambling in the U.S. Under the DOJ’s new interpretation, however, only Internet sports bets violate the Wire Act, enabling states that choose to do so, to legalize casino-style (non-sports) Internet gambling.
Under the DOJ’s new take on the Wire Act, states that legalize online gambling will still have to comply with certain federal regulations. UIGEA provides that intrastate online gambling is not considered “unlawful” so long as the state utilizes certain safeguards to ensure that the bettor is physically located in a state where Internet gambling is legal and that the bettor is at least 18 years of age. Sports betting over the Internet is still proscribed by the Wire Act.
As states strapped for cash desperately search for new sources of revenue, expect state-regulated online gambling to get a good, hard look from many state legislatures in 2012. It may not be long before a revitalized online gambling industry in the U.S. ushers in federal legalization.
Sylvester Stallone coming to Fallsview Casino...
Don’t worry Rambo and Rocky fans, Sylvester Stallone is not coming to the Fallsview Casino to flog some product. No, the ‘Italian Stallion’ is coming to do two nights of intimate Q&A’s about his career on the weekend of February 24 and 25. Should be interesting for big fans of the action star with a spare $90.
Stallone, who will be seen later this summer in The Expendables 2, is the third actor to do an An Evening with… at the Fallsview Casino. Al Pacino and Sean Penn have both appeared on stage there last year.
For more info and to purchase tickets, visit fallsviewcasinoresort.com.
Official info:
An Evening with Sylvester Stallone
Friday, February 24 and Saturday, February 25
Showtime: 9 p.m., doors open at 8 p.m.
Tickets start at $90
Known for his roles as Rocky Balboa in the Rocky movies, John Rambo in the Rambo movies and most recently Barney Ross in The Expendables, Sylvester Stallone has had a tremendous career. Don’t miss your opportunity to spend an evening with the movie legend Sylvester Stallone, LIVE, on stage for a candid interview and Q&A session with the audience that will highlight his extraordinary career and life.
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Wynn Vs Okada: The Battle for Wynn Resorts
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Steve Wynn asks judge to oppose top investor’s suit as legal battle heats up...
Steve Wynn’s Wynn Resorts recently urged a US court to reject legal claims made by its largest shareholder, adding fire to an escalating public discord that could impact the future control of the US$15-B casino giant.
In a 117-page filing with the Clark County District Court in Nevada, Mr. Wynn stated that Kazuo Okada, who holds a 20% stake in the firm, was “utilising innuendo, hyperbole, half-truths and sweeping generalisations” in his legal petition that was filed on 11 January.
Mr. Okada, Wynn’s longtime business partner, known for his close relationship with Mr. Wynn, sued the Company for denying him access to Key financial information and has objected to an “inappropriate” UDS$135-M company donation to the University of Macau.
The Japanese businessman owns more than twice the stake of Wynn Resorts stock than Mr. Wynn himself.
Mr. Okada filed his suit through Aruze USA Inc., a unit of his Universal Entertainment Corp, an arcade-game manufacturer and developer of a multi-billion-dollar casino in the Philippines.
Responding to last Monday’s filing in Nevada, Mr. Wynn stated that Nevada law did not give Mr. Okada the right to inspection of the company’s bookd, and his requests were “nothing more than stockholder inspection requests, on behalf of Aruze.”
“Nevada law does not afford Mr. Okada or any other individual director the right to do an end run around the express statutory limitations on stockholder inspection rights, or to play detective, while unnecessarily distracting and burdening Wynn’s management with the endless task of satisfying his unfounded and unarticulated ‘concerns’,” the filing said.
Wynn’s donation to the University of Macau in Y 2011 was approved by the boards of Wynn Resorts and Wynn Macau on 18 April last year, with Mr. Okada the only member of the 12-person board objecting to the payment, according to the filing court filings.
Aruze USA said that as a member of the board of Wynn Resorts, Mr. Okada had the right to inspect the corporate documents he deemed necessary to carry out his duties as a Director.
“The response of Wynn Resorts’ management, while full of colorful rhetoric, cannot explain this away. We look forward to presenting our position to the Court,” Aruze said.
Mr. Okada, a Hong Kong resident who made his fortune in Japanese pachinkos, has also proposed 4 potential candidates for election ahead of Wynn’s Y 2012 shareholder meeting.
If these are endorsed, the Japanese businessman would be pushing out high level executives including Wynn’s Chief Operating Officer Marc Schorr and Linda Chen, President of Wynn International Marketing, whose terms expire this year.
Steven Wynn, creator of the volcano-roaring Mirage and lavish Bellagio in Las Vegas, upset shareholders more than 12 yrs ago with overzealous spending on items including his US$200-M art collection, eating into profitability of Mirage Resorts at the time.
Mr. Wynn, like Las Vegas and Macau rival Sheldon Adelson of Las Vegas Sands, has expressed interest in cementing his presence in emerging Asian gaming markets such as Japan and South Korea should legalization allow in the future.
Mr. Okada, who has been investing in Wynn Resorts since Y 2000, is seen as Key to the Company’s potential casino development in Japan due to his vast business links and contacts.
Japan is a market that analysts say would be highly lucrative and could generate revenues of over US$40-B a yr.
It is thought that this negative relationship issue with Wynn Resorts will probably press Mr. Okada to develop a relationship with another US casino gaming company. Certainly Las Vegas Sands has been very aggressive in their desire to do something in Japan, and the expectation is that many large corporates will reach out to Mr. Okada’s organization.
Revenues from Wynn’s property in Macau, the World’s largest gambling destination, accounts for 70% of Wynn Resort’s total revenues, and the Company currently does not have a presence in the fast-growing Singapore market, where LVS has developed 1 of the World’s most profitable casinos. Stay tuned… (Credit: Paul A. Ebeling, Jnr - Live Trading News)
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Steve Wynn asks judge to oppose top investor’s suit as legal battle heats up...
Steve Wynn’s Wynn Resorts recently urged a US court to reject legal claims made by its largest shareholder, adding fire to an escalating public discord that could impact the future control of the US$15-B casino giant.
In a 117-page filing with the Clark County District Court in Nevada, Mr. Wynn stated that Kazuo Okada, who holds a 20% stake in the firm, was “utilising innuendo, hyperbole, half-truths and sweeping generalisations” in his legal petition that was filed on 11 January.
Mr. Okada, Wynn’s longtime business partner, known for his close relationship with Mr. Wynn, sued the Company for denying him access to Key financial information and has objected to an “inappropriate” UDS$135-M company donation to the University of Macau.
The Japanese businessman owns more than twice the stake of Wynn Resorts stock than Mr. Wynn himself.
Mr. Okada filed his suit through Aruze USA Inc., a unit of his Universal Entertainment Corp, an arcade-game manufacturer and developer of a multi-billion-dollar casino in the Philippines.
Responding to last Monday’s filing in Nevada, Mr. Wynn stated that Nevada law did not give Mr. Okada the right to inspection of the company’s bookd, and his requests were “nothing more than stockholder inspection requests, on behalf of Aruze.”
“Nevada law does not afford Mr. Okada or any other individual director the right to do an end run around the express statutory limitations on stockholder inspection rights, or to play detective, while unnecessarily distracting and burdening Wynn’s management with the endless task of satisfying his unfounded and unarticulated ‘concerns’,” the filing said.
Wynn’s donation to the University of Macau in Y 2011 was approved by the boards of Wynn Resorts and Wynn Macau on 18 April last year, with Mr. Okada the only member of the 12-person board objecting to the payment, according to the filing court filings.
Aruze USA said that as a member of the board of Wynn Resorts, Mr. Okada had the right to inspect the corporate documents he deemed necessary to carry out his duties as a Director.
“The response of Wynn Resorts’ management, while full of colorful rhetoric, cannot explain this away. We look forward to presenting our position to the Court,” Aruze said.
Mr. Okada, a Hong Kong resident who made his fortune in Japanese pachinkos, has also proposed 4 potential candidates for election ahead of Wynn’s Y 2012 shareholder meeting.
If these are endorsed, the Japanese businessman would be pushing out high level executives including Wynn’s Chief Operating Officer Marc Schorr and Linda Chen, President of Wynn International Marketing, whose terms expire this year.
Steven Wynn, creator of the volcano-roaring Mirage and lavish Bellagio in Las Vegas, upset shareholders more than 12 yrs ago with overzealous spending on items including his US$200-M art collection, eating into profitability of Mirage Resorts at the time.
Mr. Wynn, like Las Vegas and Macau rival Sheldon Adelson of Las Vegas Sands, has expressed interest in cementing his presence in emerging Asian gaming markets such as Japan and South Korea should legalization allow in the future.
Mr. Okada, who has been investing in Wynn Resorts since Y 2000, is seen as Key to the Company’s potential casino development in Japan due to his vast business links and contacts.
Japan is a market that analysts say would be highly lucrative and could generate revenues of over US$40-B a yr.
It is thought that this negative relationship issue with Wynn Resorts will probably press Mr. Okada to develop a relationship with another US casino gaming company. Certainly Las Vegas Sands has been very aggressive in their desire to do something in Japan, and the expectation is that many large corporates will reach out to Mr. Okada’s organization.
Revenues from Wynn’s property in Macau, the World’s largest gambling destination, accounts for 70% of Wynn Resort’s total revenues, and the Company currently does not have a presence in the fast-growing Singapore market, where LVS has developed 1 of the World’s most profitable casinos. Stay tuned… (Credit: Paul A. Ebeling, Jnr - Live Trading News)
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Sunday, February 5, 2012
Qatar pays record $250m for Cezanne - 5th February 2012
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OIL-RICH Qatar has bought Paul Cezanne's painting The Card Players for more than $250 million, by far the highest price yet paid for a work of art.
Previously, a Jackson Pollock - No. 5, 1948 - held the record, sold for $140 million in pre-recessionary 2006.
Vanity Fair magazine points out that only four other versions of Card Players exist - Cezanne painted them as a series in the 1890s. They are all housed in world-class museums, including the Musee d'Orsay in Paris and the Metropolitan Museum of Art in New York.
"The purchase is just the latest bid in Qatar's effort to become an international intellectual hub," the magazine wrote, adding that it "upends the modern art market."
According to the Gulf Times, Qatar has the third highest density of millionaires in the world after Singapore and Switzerland.
The sale, which took place last year, was confirmed to the magazine by multiple sources only last week.
Qatar's royal family declined to comment and all other players involved in the sale signed confidentiality agreements.
The Card Players bought by Qatar is one of three that shows two men at a table playing cards.
"$250 million is a fortune," Victor Wiener, a fine-art appraiser told Vanity Fair. ''But you take any art-history course and a Card Players is likely in it. It's a major, major image."
Cezanne inspired Cubism and helped pioneer abstract art, and Picasso called him "the father of us all." (Credit: GNE)
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OIL-RICH Qatar has bought Paul Cezanne's painting The Card Players for more than $250 million, by far the highest price yet paid for a work of art.
Previously, a Jackson Pollock - No. 5, 1948 - held the record, sold for $140 million in pre-recessionary 2006.
Vanity Fair magazine points out that only four other versions of Card Players exist - Cezanne painted them as a series in the 1890s. They are all housed in world-class museums, including the Musee d'Orsay in Paris and the Metropolitan Museum of Art in New York.
"The purchase is just the latest bid in Qatar's effort to become an international intellectual hub," the magazine wrote, adding that it "upends the modern art market."
According to the Gulf Times, Qatar has the third highest density of millionaires in the world after Singapore and Switzerland.
The sale, which took place last year, was confirmed to the magazine by multiple sources only last week.
Qatar's royal family declined to comment and all other players involved in the sale signed confidentiality agreements.
The Card Players bought by Qatar is one of three that shows two men at a table playing cards.
"$250 million is a fortune," Victor Wiener, a fine-art appraiser told Vanity Fair. ''But you take any art-history course and a Card Players is likely in it. It's a major, major image."
Cezanne inspired Cubism and helped pioneer abstract art, and Picasso called him "the father of us all." (Credit: GNE)
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Saturday, February 4, 2012
Bwin.Party Digital Entertainment Responds to DoJ Indictment against Megaupload
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Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.
According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.
As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.
John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”
However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.
Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.
Megaupload Data 'To Be Destroyed In Days'...
Megaupload founder Kim Dotcom
American prosecutors have warned that data from users of file-sharing site Megaupload could be deleted from host servers within days.
US officials have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.
Megaupload previously hired outside companies to store clients' data but its lawyer, Ira Rothken, said the US government has restricted this by freezing its funds.
A letter filed by prosecutors on January 27 said storage companies Carpathia Hosting and Cogent Communications Group may begin deleting data from Thursday onwards.
Representatives of the two companies declined to comment on the move.
Last week site founder Kim Dotcom, who was accused of internet piracy, was denied bail in New Zealand ahead of an extradition bid by the US.
The US Department of Justice took control of the company's website and posted an FBI anti-piracy warning.
New Zealand police allegedly found Dotcom - formerly known as Kim Schmitz - in a sealed panic room at his leased mansion.
Officers seized assets worth $50m (£32m) in the raid, including guns, artwork, luxury cars and $8m in cash.
In response, anarchic freedom of speech campaigners launched a cyber attack on US government and mainstream music industry websites.
Mr Rothken said Megaupload is working with prosecutors to try to keep the masses of data from being erased.
He advised at least 50 million Megaupload users around the world are in danger of losing files.
Mr Rothken said that, besides its customers, the data is important to Megaupload so it can defend itself in the legal case.
"We're cautiously optimistic at this point that because the United States, as well as Megaupload, should have a common desire to protect consumers, that this type of agreement will get done," he said.
Some legitimate site users, such as software developers, have complained that their data has been inaccessible since US officials took action against the company.
Megaupload mansion in New Zealand
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Bwin.Party Digital Entertainment, the largest online gaming company in the world, formed by the recent merger of PartyGaming and Bwin, has responded to the US Department of Justice’s (DoJ) 72-page-long indictment against Megaupload.com, a file hosting service. PartyGaming as well as its online poker gaming brand PartyPoker is now part of Bwin.Party. Bwin.Party is also the firm behind the world famous PartyCasino brand.
According to the DoJ’s indictment, PartyGaming has spent more than $3 million on marketing campaigns, as part of which PartyPoker has been advertised on sites that form part of Megaupload.com. The DoJ has accused Megaupload.com of infringing copyright, pirating, and money laundering. As a result of this indictment, 18 domain names belonging to Megaupload.com have been shut down by the DoJ and several people associated with it, including Kim Schmitz, the founder of Megaupload.com, have been arrested.
As soon as Bwin.Party came to know of these developments, it terminated the marketing and advertising agreement it had signed with the company and issued a public statement in which it stated that Megaupload.com had specifically promised that it would not infringe on copyrights belonging to third parties on their sites, which get over 50 millions hits per day.
John Shepherd, the Bwin.Party marketing executive, said, “We had no knowledge about any of the alleged activities undertaken by Megaupload.” Further stating that Bwin.party was totally unaware that Megaupload was involved in such activities, Shepherd said, “We’re a completely innocent party. They (the DoJ) have obviously put the details of our contract in the indictment to help make their case about the amount of money that was going through Megaupload.”
However, Bwin.Party and PartyGaming are not the only parties named by the DoJ in its indictment against Megaupload.com. Also mentioned are names such as PayPal and Moneybookers. Stating that he has absolutely no idea of the reasons for which PartyGaming was mentioned, Shepherd assured the online poker gaming industry that Bwin.Party is totally innocent of and was totally unaware of any illegal activities Megaupload.com stands accused of.
Megaupload.com belongs to Megaupload Limited, an online company based in Hong Kong, which offered several varieties of file hosting services. On Jan 19, 2012, the US DoJ seized 15 domain names belonging to the company and shut down the sites on allegations that company was continuously involved in infringement of copyrights belonging to third parties. Besides, the Hong Kong Customs and Excise Department froze HK$330 million in assets belonging to the company.
Megaupload Data 'To Be Destroyed In Days'...
Megaupload founder Kim Dotcom
American prosecutors have warned that data from users of file-sharing site Megaupload could be deleted from host servers within days.
US officials have blocked access to Megaupload and charged seven men, saying the site facilitated millions of illegal downloads of movies, music and other content.
Megaupload previously hired outside companies to store clients' data but its lawyer, Ira Rothken, said the US government has restricted this by freezing its funds.
A letter filed by prosecutors on January 27 said storage companies Carpathia Hosting and Cogent Communications Group may begin deleting data from Thursday onwards.
Representatives of the two companies declined to comment on the move.
Last week site founder Kim Dotcom, who was accused of internet piracy, was denied bail in New Zealand ahead of an extradition bid by the US.
The US Department of Justice took control of the company's website and posted an FBI anti-piracy warning.
New Zealand police allegedly found Dotcom - formerly known as Kim Schmitz - in a sealed panic room at his leased mansion.
Officers seized assets worth $50m (£32m) in the raid, including guns, artwork, luxury cars and $8m in cash.
In response, anarchic freedom of speech campaigners launched a cyber attack on US government and mainstream music industry websites.
Mr Rothken said Megaupload is working with prosecutors to try to keep the masses of data from being erased.
He advised at least 50 million Megaupload users around the world are in danger of losing files.
Mr Rothken said that, besides its customers, the data is important to Megaupload so it can defend itself in the legal case.
"We're cautiously optimistic at this point that because the United States, as well as Megaupload, should have a common desire to protect consumers, that this type of agreement will get done," he said.
Some legitimate site users, such as software developers, have complained that their data has been inaccessible since US officials took action against the company.
Megaupload mansion in New Zealand
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Friday, February 3, 2012
PartyCasino News: Escape to Las Vegas with a 5 Star Dream Ticket!
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Escape to Las Vegas with a 5 Star Dream Ticket!
Starts: 00:00 ET, 12th January 2012
Ends: 23:59 ET, 26th March 2012
Join the fun at PartyCasino for your chance to win a 5 Star Vegas Dream Ticket worth $5,000!
The Vegas Dream Ticket includes flights for you and a friend and a weekend stay in a luxury hotel. We'll even throw in some spending money so you can really live it up Vegas-style. You could hit the casinos, catch a show or party through the night it's up to you!
Find out how you can win:
Real Money Players
Winning a 5 Star Vegas Dream Ticket is easy. Just opt-in and collect as many points as you can between 12th January and 26th March 2012 to go shooting up our leaderboard and into the prize spots:
Position Prize
1st $5,000 Vegas Dream Ticket
2nd–6th $100 cash bonus
7th–11th $50 cash bonus
12th–16th $40 cash bonus
17th–21st $30 cash bonus
22nd–31st $20 cash bonus
32nd–51st $10 cash bonus
52nd–71st $5 cash bonus
Play Money Players
Winning a 5 Star Vegas Dream Ticket is easy… Just make your first deposit at PartyCasino and you’ll be entered into a special prize draw held on 30th March 2012.
The first player picked at random will win a VIP Weekend in Las Vegas, plus we’ve got a whole host of cash bonuses for the runners up:
Position Prize
1st $5,000 Vegas Dream Ticket
2nd–11th $25 cash
12th–21st $10 cash bonus
22nd–31st $5 cash bonus
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Escape to Las Vegas with a 5 Star Dream Ticket!
Starts: 00:00 ET, 12th January 2012
Ends: 23:59 ET, 26th March 2012
Join the fun at PartyCasino for your chance to win a 5 Star Vegas Dream Ticket worth $5,000!
The Vegas Dream Ticket includes flights for you and a friend and a weekend stay in a luxury hotel. We'll even throw in some spending money so you can really live it up Vegas-style. You could hit the casinos, catch a show or party through the night it's up to you!
Find out how you can win:
Real Money Players
Winning a 5 Star Vegas Dream Ticket is easy. Just opt-in and collect as many points as you can between 12th January and 26th March 2012 to go shooting up our leaderboard and into the prize spots:
Position Prize
1st $5,000 Vegas Dream Ticket
2nd–6th $100 cash bonus
7th–11th $50 cash bonus
12th–16th $40 cash bonus
17th–21st $30 cash bonus
22nd–31st $20 cash bonus
32nd–51st $10 cash bonus
52nd–71st $5 cash bonus
Play Money Players
Winning a 5 Star Vegas Dream Ticket is easy… Just make your first deposit at PartyCasino and you’ll be entered into a special prize draw held on 30th March 2012.
The first player picked at random will win a VIP Weekend in Las Vegas, plus we’ve got a whole host of cash bonuses for the runners up:
Position Prize
1st $5,000 Vegas Dream Ticket
2nd–11th $25 cash
12th–21st $10 cash bonus
22nd–31st $5 cash bonus
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Star Casino MD replaced for 'behaviour'
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The managing director of Sydney's The Star casino has been replaced for issues relating to his behaviour, the casino's owner says.
The CEO of Echo Entertainment said today that Sid Vaikunta had left the company.
"Mr Vaikunta's employment has ended after his behaviour in a social work setting," Echo CEO Larry Mullin said in a statement.
Frederic Luvisutto has been appointed in Mr Vaikunta's place. Mr Luvisutto has been managing director of Jupiters Gold Coast since May 2011.
A spokeswoman for Echo Entertainment said she was unable to provide further details.
The Casino, Liquor and Gaming Control Authority is investigating Mr Vaikunta's behaviour, a spokesman for NSW Gaming Minister George Souris told AAP.
The authority later said it had demanded from The Star a full explanation of the circumstances surrounding Mr Vaikunta's departure.
"The authority will be responsible for assessing the suitability of the new managing director to be licensed as a special employee under the Casino Control Act," it said in a statement.
Casinos Star City Sydney Australia
The managing director of Sydney's The Star casino has been replaced for issues relating to his behaviour, the casino's owner says.
The CEO of Echo Entertainment said today that Sid Vaikunta had left the company.
"Mr Vaikunta's employment has ended after his behaviour in a social work setting," Echo CEO Larry Mullin said in a statement.
Frederic Luvisutto has been appointed in Mr Vaikunta's place. Mr Luvisutto has been managing director of Jupiters Gold Coast since May 2011.
A spokeswoman for Echo Entertainment said she was unable to provide further details.
The Casino, Liquor and Gaming Control Authority is investigating Mr Vaikunta's behaviour, a spokesman for NSW Gaming Minister George Souris told AAP.
The authority later said it had demanded from The Star a full explanation of the circumstances surrounding Mr Vaikunta's departure.
"The authority will be responsible for assessing the suitability of the new managing director to be licensed as a special employee under the Casino Control Act," it said in a statement.
World's Biggest Gamblers; History Of Bets At Casinos - Kerry Packer, David Walsh Et Al
Lloyd Williams plays blackjack with the late Kerry Packer at Melbourne's Crown Casino
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Want to try your luck at a casino? ... Land based or online - there's all sorts of options out that, but first here's some real life stories regarding whales aka VIP high rollers at casinos, the racetrack and elsewhere.
PS: how about those Aussies - they will bet on anything won't they. World's biggest gamblers we heard.
Zeljko Ranogajec – Bookies beware! Allegedly, the world’s biggest gambler is an Australian billionaire of Croatian descent. After studying law in Tasmania, Ranogajec got a job in a casino where he learnt the tricks of the trade. Starting with an initial stake of hundreds, he went on to win millions on casino betting before turning his attention to horses. He now employs a full staff to compare odds and find him the best bets, putting around $1 billion a year on races around the world.
Kerry Packer – Staying Down Under, the late Kerry Packer was the media-mogul who was a thorn in Rupert Murdoch’s side – and a prolific gambler. This was the man who would happily walk into casinos and wager millions, supposedly losing $28 million in three weeks of gambling while in London. Another time he lost $15 million on the roulette tables, the staff saying he walked out with "no regrets". However, on his better days he has won up to $7 million in one casino betting session. There’s even a legend that Packer made a bet of $100 million dollars on the toss of a coin, but his opponent backed down.
Akio Kashiwagi – Known as ‘The Warrior’, this Japanese businessman became a casino legend before meeting a violent end. A master of baccarat, he regularly wagered $200,000 a time in US casinos, once winning $6 million in one night. However, he wasn’t always so lucky; he died in 1992 after being stabbed 150 times with a samurai sword while still owing casinos millions.
Archie Karas - Perhaps the most extraordinary of recent legendary streaks is possessed by Mr. Archie Karas, a Greek immigrant, who in 1992-1993 had one of the greatest runs in Vegas history. Starting with a borrowed stake of ten thousand dollars, Archie went on a rampage of poker at Binion's Horseshoe, defeating 15 of the world's greatest poker players in head-to-head competition, including World Champions Chip Reese, Stu Unger, Puggy Pearson, and Johnny Chan. When he ran out of poker competitors, Archie headed to the Horseshoe's craps tables where he won millions more. At one point in his run, Archie possessed all of the Horseshoe's $5,000 chips -- over 11 million dollars worth. When the run was over, Archie was up over 17 million dollars between poker and craps, all at the Horseshoe.
Betfred vs Betvictor – The names behind two of the biggest high street bookies were involved in what may have been the biggest sports betting wager in British history. Fred Done of Betfred fame and Victor Chandler of Betvictor bet on the outcome of the Premier League in 2005. Fred and Victor supported Manchester United and Chelsea respectively, so they wagered £1 million, as you do. It was Chelsea who came out on top and Done paid up in one of the best bets we’ve seen; what could be better than two sports betting giants walking it like they talk it?
Steve Whitely – Arriving by bus with a free ticket to watch racing at Exeter, 61-year-old heating engineer Steve Whitely turned a couple of quid into millions back in March last year. He didn’t bother to compare odds or make an effort to find the best bets, he just used his two pounds to make a Tote bet. A few hours later and he was minted after winning the jackpot when he correctly predicted all six of the winners. So, what is Steve’s sage advice to budding punters who want to win millions? “I like racing, yeah, but I don’t know nothing about it, do I?” Cheers Steve.
David Walsh - Not a great deal is know about this Tasmanian - Australian, but he founded MONA - (Museum of Old and New Art). Australian press has described him in a few colourful ways, such as - "multi-millionaire professional gambler and one of the nation's leading art collectors - dismisses himself as "just a privileged guy with a megaphone". He might be right. But the world is about to discover just how wonderful, disturbing, beautiful and occasionally challenging that megaphone is". In the second year of his science degree at the University of Tasmania, he was asked by friends to develop a model that would enable them to win at blackjack in the nearby Wrest Point Casino. When he discovered that the scope for winning at card games was limited he dropped out of his degree and, for most of the ’80s and early ’90s, spent 100 or more hours per week developing a mathematical model that would enable him and his partners to win at other forms of gambling, especially horseracing. This he now pursues on a large scale in a number of countries. There is a network of people involved in Walsh’s outfit, most notably his business partner of 30 years, Zeljko Ranogajec. Walsh met Ranogajec at university where the latter studied law and economics before he too dropped out to pursue a career in gambling. Walsh describes Ranogajec as a “relentless motivator and a loyal friend” who, despite not sharing his interest in art, has provided financial support for his collecting mania “whenever my cashflow dried to a trickle”. As Walsh inelegantly puts it: "I am throwing the shit, he is happy to be the fan. And he doesn’t even like the shit."
Other names whose win/loss positions move in the multiple millions in a single night include Malaysian tycoons Tan Sri Lim Kok Thay and Quek Leng Chan, Indonesia’s Putera Sampoerna, and Hustler founder Larry Flynt.
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Thursday, February 2, 2012
Entertainment, Gaming, Casino And Celeb And Movie News Update - 2nd February 2012
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Lyric Theatre At The Star In Sydney To Get 'An Officer and a Gentlemen'...
Riding on the success of live musicals, The Star, currently host to 'Annie', will be presenting the world famous 'An Officer And A Gentlemen' from 18th May.
Based on the hugely successful Academy Award-winning film, this new production has been adapted for the stage. A rich and satisfying story that has endured for generations, An Officer & A Gentleman is a modern day love story.
Star casino sacks top exec over sexual harassment claims...
The GM of The Star casino, Sid Vaikunta, has been terminated.
The chief executive of Echo Entertainment Group, Larry Mullin, said in a statement to the Australian Securities Exchange that "Mr Vaikunta's employment has ended after his behaviour in a work setting".
It is understood the statement refers to one of more incidents of sexual harassment in the workplace.
The annoucement comes just weeks after The Star received a clean bill of health and had its licence renewed by the Casino, Liquor and Gaming Control Authority.
Mr Vaikunta has been replaced by Frederic Luvisutto, who joined The Star from Jupiters Gold Coast.
The Media Man agency and its Casino News Media offshoot wish Mr Luvisutto well in his new role.
WWE Wrestlers To Clean House At Sydney's Allphones Arena 31st August 2012; WWE Gets New Creative and Development VP...
Aussie pro wrestling fans - get ready to rumble with the one and only WWE as seen on Australia's Foxtel.
The world's best professional wrestlers aka "sports entertainers" are going to come down under again and ply their craft in front of some of the world's most passionate and knowledgeable wrestling fans.
WWE Gets New Creative Boss...
No, it's not about John Laurinaitis (Executive Vice President of Talent Relations and Raw interim General Manager).
Ex Reveille and Warner Bros. exec Eric Pankowski has entered the ring at WWE as Senior Executive Vice President of creative and development.
Pankowski had joined Reveille in September as SVP of creative affairs, overseeing syndicated programming. In his new role with sports entertainment powerhouse, WWE, he will be responsible for all TV creative development, including reality and kids programming.
He will also manage WWE's creative writing teams and oversee the sale of programming to networks, studios and other distributors.
"No more bad storylines like what the world witnessed in the dying days of WCW please. WWE needs storylines for the times - as realistic and possible with a pro wrestling based product", a Media Man staffer was overheard.
"Eric is a creative veteran whose knowledge and experience will be a tremendous asset in both the creation of new WWE content as well as enhancing our core product," said WWE exec veep of creative Stephanie McMahon, to whom Pankowski will report.
Stephanie is the daughter of WWE founder and top brass, Vince McMahon.
Pankowski enjoyed 12 years at Warner Bros, culminating in his role as SVP of production company ParaMedia ("Lopez Tonight"). He has also been director of programming at Telepictures ("The Ellen DeGeneres Show").
Media Man and the existing WWE team wishes Eric Pankowski well in his new assignment and is looking forward to seeing results from his contribution.
Casinos Shares Get Boost...
Casino operators Crown and Tabcorp spinoff Echo Entertainment could increase revenue by billions of dollars if they manage to regain share of Asia's growing gambling market, according to a Citi report.
The report cited estimates by Australian tourism body, Tourism Australia, that the contribution by international tourists to Australian casino revenues had fallen from 12 per cent to 8 per cent since 2004, when rival markets opened in Macau, and more recently in Singapore.
"Australia's share of gaming revenue captured in the region of south-east Asia has fallen from 30 per cent to 9 per cent over the past five years," Citi gaming analyst Jenny Owen's report said.
Little wonder Crown Limited top brass James Packer has been so vocal as to the role that Australian land based casinos play in our tourism industry.
Crown and Echo are investing a combined $3.7 billion to entice mainly oriental clients to their casinos.
A 9 per cent share of the regional market would rocket Australian casino revenues to $3.73 billion this year from $3.43 billion in 2011, the report said.
It said that to give an example of the potential gain, a 15 per cent share of the regional market this year would equate to $5.63 billion in revenue for Australia's casinos.
This could add more than $188 million to earnings before interest and tax at Crown and $137 million at Echo, according to Citi, which based the numbers on last year's revenue share for the two firms.
Citi said Echo Entertainment was better positioned to reap any potential jackpot because its casinos were in more attractive tourism markets than Crown.
"Echo has more leverage in our view as Sydney outranks Melbourne as a preferred destination, and Brisbane and the Gold Coast outrank Perth," the report started.
The Media Man agency director owns shares in Crown Limited.
Problem gambling measures to proposed in Australia...
In Australia, the government of Prime Minister Julia Gillard has announced that it plans to introduce new measures to tackle problem gambling including a provision that would limit the amount of money a player can withdraw from an in-venue cash machine to $250.
The government revealed that it will propose legislation in the next Parliamentary session that would also require all new poker machines manufactured from 2013 to be capable of supporting pre-commitment and link up with a state-controlled pre-commitment system from 2016.
“We will also continue to work on pre-commitment technology through the COAG Select Council on Gaming Reform,” read a statement from the Gillard Government.
“At this forum in May last year, state and territory gaming ministers agreed to support the required infrastructure for pre-commitment technology in all jurisdictions.
“The Gillard Government understands that many Australians enjoy gambling responsibly but for others it can have devastating consequences. Problem gambling ruins lives and that’s why in November of 2008 we asked the Productivity Commission to inquire into problem gambling in Australia.
“The Productivity Commission found that problem gambling affects up to five million Australians including friends, family and employers of people with a gambling problem. These far reaching impacts are why the Australian Government is delivering genuine long-lasting reforms to help problem gamblers and their families.”
Regarding online gambling, the Gillard Government is planning to introduce legislation that would further ban the promotion of live odds during sports coverage and extend pre-commitment to those offering wagering services over the Internet. There are also measures planned to ‘crack down on online sportsbetting companies offering credit’ and passing ‘stricter limits on betting inducements’ while increasing the powers of the Australian Communications and Media Authority (ACMA) to enforce any new rules.
“The actions the Gillard Government is taking will be the most significant and far reaching national reforms to tackle problem gambling ever seen in this country,” read the statement from the Gillard Government.
Kerry Packer to be played by Lachy Hulme in Nine mini series...
The role of Kerry Packer will be played by actor Lachy Hulme in the Nine Network's mini-series focussing on the media and gambling tycoon's creation of World Series Cricket.
The Offspring and Hollowmen star will play the role instead of actor Rob Carlton.
Carlton was widely expected to reprise his role in the Nine mini-series after starring as Packer in ABC's acclaimed Paper Giants: The Birth of Cleo last year.
However, The Sunday Telegraph reports that Carlton, who received an AACTA Award nomination for playing the mogul, was dumped in favour of Hulme after Nine Entertainment Co chief executive David Gyngell and producer John Edwards witnessed Hulme's audition tape.
Gyngell was reportedly "blown away" by Hulme's impersonation.
Carlton told The Sunday Telegraph: "I had a fantastic time on Paper Giants and was proud of the work I did."
"Obviously I was really looking forward to doing Kerry Packer with Channel Nine and I thought that's what we were all moving towards."
A potential sequel to Paper Giants is tipped for the ABC, however it's not known whether Carlton would reprise his role.
As well as being nominated, Carlton will also present at Tuesday's AACTA Awards which will be televised on Nine at 9:30pm.
Hulme will also star as miner Todd Russell in Nine's Beaconsfield telemovie which will air later this year, also produced by Edwards.
Howzat: The Kerry Packer Story will air later in the year.
Gina Rinehart becomes biggest Fairfax shareholder...
Australia's richest woman, Gina Rinehart, has become the largest shareholder in newspaper publisher Fairfax Media in what could become a play for control of the 181-year-old company.
Ms Rinehart, a mining industry billionaire, had acquired 12.8 per cent of the nation's second-largest newspaper company by late today.
This puts her ahead of Commonwealth Bank's 12.4 per cent, according to IG Markets analyst Chris Weston.
The news pushed Fairfax shares up 7.5 cents, or 10.14 per cent, to a three-month high at 81.5 cents.
Fairfax Media publishers The Age, The Sydney Morning Herald and The Australian Financial Review and owns a string of radio stations.
Ms Rinehart made her $192 million play at 81.77 cents a share - a 10.5 per cent premium to Tuesday's close - which has increased her stake from 4.9 per cent to just under the 15 per cent ownership limit under current government law.
While neither Ms Rinehart nor Fairfax would comment today, the move has been met by mixed responses elsewhere.
This includes concerns that Ms Rinehart wanted a board seat and influence over editorial content.
Media analyst Peter Cox said there was no way Ms Rinehart was buying into Fairfax as a major shareholder just for a financial investment.
"This has to be driven by her view on politics in Australia," Mr Cox said.
"What's the point of spending that money on it if you're not going to have influence?
"So, I think it's possible she'd want to go on, buy more shares, get greater control and end up as the effective controller of Fairfax."
Ms Rinehart's late father, Lang Hancock, was an investor in Western Australian newspapers The Sunday Independent and the National Miner.
Ms Rinehart, who chairs her privately owned mining company Hancock Prospecting, has been a vocal critic of the Gillard government's mineral resources rent tax (MRRT) and Labor's plan to put a price on carbon pollution.
EL&C Baillieu Stockbroking media analyst Ivor Ries said Ms Rinehart's move on Fairfax was high risk, given he doubted she could influence the board and he doubted that the company would ever return to its profitable heyday.
"She could just be being opportunistic ... she's enjoying the up cycle of mining, media is in a down cycle and she's buying it at the bottom to flip them out in 18 months to two years' time when the media cycle turns better," he said.
Ms Rinehart's personal wealth is believed to have recently doubled to about $20 billion through the sale of a 15 per cent stake in the Roy Hill iron ore project in Western Australia to South Korean corporate giant Posco.
That would mean her investment in Fairfax represents less than one per cent of her fortune, with Fairfax's complete market value only $1.7 billion.
Avatar's James Cameron plans New Zealand move...
James Cameron has snapped up more farmland near New Zealand's capital Wellington, not far from his Oscar-winning colleague Peter Jackson.
Cameron, the director of Titanic and Avatar, two of the highest-grossing films in history, has bought more than 1,000 hectares in the Wairarapa region, around 80 kilometres north-east of Wellington, land information records show.
The area is renowned for its rolling coastal farmland used for beef, sheep and dairy farming, along with vineyards.
News media reports say he paid around $NZ20 million for the two separate properties.
The records show Cameron and his family, who currently live in Malibu, California, plan to "reside indefinitely" in New Zealand, and operate both properties as working farms.
Jackson, possibly New Zealand's most famous export after he directed the Lord Of The Rings trilogy, owns a large estate about 20 kilometres away.
It boasts a 20-metre high castle built on an island in a lake, along with sets from his Oscar-winning films.
Jackson's next film, The Hobbit, the prequel to the Lord Of The Rings trilogy, is due out later this year.
Cameron's property purchases have firmed expectations he will make large parts of two sequels to his 3D science-fiction epic Avatar in New Zealand.
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Lyric Theatre At The Star In Sydney To Get 'An Officer and a Gentlemen'...
Riding on the success of live musicals, The Star, currently host to 'Annie', will be presenting the world famous 'An Officer And A Gentlemen' from 18th May.
Based on the hugely successful Academy Award-winning film, this new production has been adapted for the stage. A rich and satisfying story that has endured for generations, An Officer & A Gentleman is a modern day love story.
Star casino sacks top exec over sexual harassment claims...
The GM of The Star casino, Sid Vaikunta, has been terminated.
The chief executive of Echo Entertainment Group, Larry Mullin, said in a statement to the Australian Securities Exchange that "Mr Vaikunta's employment has ended after his behaviour in a work setting".
It is understood the statement refers to one of more incidents of sexual harassment in the workplace.
The annoucement comes just weeks after The Star received a clean bill of health and had its licence renewed by the Casino, Liquor and Gaming Control Authority.
Mr Vaikunta has been replaced by Frederic Luvisutto, who joined The Star from Jupiters Gold Coast.
The Media Man agency and its Casino News Media offshoot wish Mr Luvisutto well in his new role.
WWE Wrestlers To Clean House At Sydney's Allphones Arena 31st August 2012; WWE Gets New Creative and Development VP...
Aussie pro wrestling fans - get ready to rumble with the one and only WWE as seen on Australia's Foxtel.
The world's best professional wrestlers aka "sports entertainers" are going to come down under again and ply their craft in front of some of the world's most passionate and knowledgeable wrestling fans.
WWE Gets New Creative Boss...
No, it's not about John Laurinaitis (Executive Vice President of Talent Relations and Raw interim General Manager).
Ex Reveille and Warner Bros. exec Eric Pankowski has entered the ring at WWE as Senior Executive Vice President of creative and development.
Pankowski had joined Reveille in September as SVP of creative affairs, overseeing syndicated programming. In his new role with sports entertainment powerhouse, WWE, he will be responsible for all TV creative development, including reality and kids programming.
He will also manage WWE's creative writing teams and oversee the sale of programming to networks, studios and other distributors.
"No more bad storylines like what the world witnessed in the dying days of WCW please. WWE needs storylines for the times - as realistic and possible with a pro wrestling based product", a Media Man staffer was overheard.
"Eric is a creative veteran whose knowledge and experience will be a tremendous asset in both the creation of new WWE content as well as enhancing our core product," said WWE exec veep of creative Stephanie McMahon, to whom Pankowski will report.
Stephanie is the daughter of WWE founder and top brass, Vince McMahon.
Pankowski enjoyed 12 years at Warner Bros, culminating in his role as SVP of production company ParaMedia ("Lopez Tonight"). He has also been director of programming at Telepictures ("The Ellen DeGeneres Show").
Media Man and the existing WWE team wishes Eric Pankowski well in his new assignment and is looking forward to seeing results from his contribution.
Casinos Shares Get Boost...
Casino operators Crown and Tabcorp spinoff Echo Entertainment could increase revenue by billions of dollars if they manage to regain share of Asia's growing gambling market, according to a Citi report.
The report cited estimates by Australian tourism body, Tourism Australia, that the contribution by international tourists to Australian casino revenues had fallen from 12 per cent to 8 per cent since 2004, when rival markets opened in Macau, and more recently in Singapore.
"Australia's share of gaming revenue captured in the region of south-east Asia has fallen from 30 per cent to 9 per cent over the past five years," Citi gaming analyst Jenny Owen's report said.
Little wonder Crown Limited top brass James Packer has been so vocal as to the role that Australian land based casinos play in our tourism industry.
Crown and Echo are investing a combined $3.7 billion to entice mainly oriental clients to their casinos.
A 9 per cent share of the regional market would rocket Australian casino revenues to $3.73 billion this year from $3.43 billion in 2011, the report said.
It said that to give an example of the potential gain, a 15 per cent share of the regional market this year would equate to $5.63 billion in revenue for Australia's casinos.
This could add more than $188 million to earnings before interest and tax at Crown and $137 million at Echo, according to Citi, which based the numbers on last year's revenue share for the two firms.
Citi said Echo Entertainment was better positioned to reap any potential jackpot because its casinos were in more attractive tourism markets than Crown.
"Echo has more leverage in our view as Sydney outranks Melbourne as a preferred destination, and Brisbane and the Gold Coast outrank Perth," the report started.
The Media Man agency director owns shares in Crown Limited.
Problem gambling measures to proposed in Australia...
In Australia, the government of Prime Minister Julia Gillard has announced that it plans to introduce new measures to tackle problem gambling including a provision that would limit the amount of money a player can withdraw from an in-venue cash machine to $250.
The government revealed that it will propose legislation in the next Parliamentary session that would also require all new poker machines manufactured from 2013 to be capable of supporting pre-commitment and link up with a state-controlled pre-commitment system from 2016.
“We will also continue to work on pre-commitment technology through the COAG Select Council on Gaming Reform,” read a statement from the Gillard Government.
“At this forum in May last year, state and territory gaming ministers agreed to support the required infrastructure for pre-commitment technology in all jurisdictions.
“The Gillard Government understands that many Australians enjoy gambling responsibly but for others it can have devastating consequences. Problem gambling ruins lives and that’s why in November of 2008 we asked the Productivity Commission to inquire into problem gambling in Australia.
“The Productivity Commission found that problem gambling affects up to five million Australians including friends, family and employers of people with a gambling problem. These far reaching impacts are why the Australian Government is delivering genuine long-lasting reforms to help problem gamblers and their families.”
Regarding online gambling, the Gillard Government is planning to introduce legislation that would further ban the promotion of live odds during sports coverage and extend pre-commitment to those offering wagering services over the Internet. There are also measures planned to ‘crack down on online sportsbetting companies offering credit’ and passing ‘stricter limits on betting inducements’ while increasing the powers of the Australian Communications and Media Authority (ACMA) to enforce any new rules.
“The actions the Gillard Government is taking will be the most significant and far reaching national reforms to tackle problem gambling ever seen in this country,” read the statement from the Gillard Government.
Kerry Packer to be played by Lachy Hulme in Nine mini series...
The role of Kerry Packer will be played by actor Lachy Hulme in the Nine Network's mini-series focussing on the media and gambling tycoon's creation of World Series Cricket.
The Offspring and Hollowmen star will play the role instead of actor Rob Carlton.
Carlton was widely expected to reprise his role in the Nine mini-series after starring as Packer in ABC's acclaimed Paper Giants: The Birth of Cleo last year.
However, The Sunday Telegraph reports that Carlton, who received an AACTA Award nomination for playing the mogul, was dumped in favour of Hulme after Nine Entertainment Co chief executive David Gyngell and producer John Edwards witnessed Hulme's audition tape.
Gyngell was reportedly "blown away" by Hulme's impersonation.
Carlton told The Sunday Telegraph: "I had a fantastic time on Paper Giants and was proud of the work I did."
"Obviously I was really looking forward to doing Kerry Packer with Channel Nine and I thought that's what we were all moving towards."
A potential sequel to Paper Giants is tipped for the ABC, however it's not known whether Carlton would reprise his role.
As well as being nominated, Carlton will also present at Tuesday's AACTA Awards which will be televised on Nine at 9:30pm.
Hulme will also star as miner Todd Russell in Nine's Beaconsfield telemovie which will air later this year, also produced by Edwards.
Howzat: The Kerry Packer Story will air later in the year.
Gina Rinehart becomes biggest Fairfax shareholder...
Australia's richest woman, Gina Rinehart, has become the largest shareholder in newspaper publisher Fairfax Media in what could become a play for control of the 181-year-old company.
Ms Rinehart, a mining industry billionaire, had acquired 12.8 per cent of the nation's second-largest newspaper company by late today.
This puts her ahead of Commonwealth Bank's 12.4 per cent, according to IG Markets analyst Chris Weston.
The news pushed Fairfax shares up 7.5 cents, or 10.14 per cent, to a three-month high at 81.5 cents.
Fairfax Media publishers The Age, The Sydney Morning Herald and The Australian Financial Review and owns a string of radio stations.
Ms Rinehart made her $192 million play at 81.77 cents a share - a 10.5 per cent premium to Tuesday's close - which has increased her stake from 4.9 per cent to just under the 15 per cent ownership limit under current government law.
While neither Ms Rinehart nor Fairfax would comment today, the move has been met by mixed responses elsewhere.
This includes concerns that Ms Rinehart wanted a board seat and influence over editorial content.
Media analyst Peter Cox said there was no way Ms Rinehart was buying into Fairfax as a major shareholder just for a financial investment.
"This has to be driven by her view on politics in Australia," Mr Cox said.
"What's the point of spending that money on it if you're not going to have influence?
"So, I think it's possible she'd want to go on, buy more shares, get greater control and end up as the effective controller of Fairfax."
Ms Rinehart's late father, Lang Hancock, was an investor in Western Australian newspapers The Sunday Independent and the National Miner.
Ms Rinehart, who chairs her privately owned mining company Hancock Prospecting, has been a vocal critic of the Gillard government's mineral resources rent tax (MRRT) and Labor's plan to put a price on carbon pollution.
EL&C Baillieu Stockbroking media analyst Ivor Ries said Ms Rinehart's move on Fairfax was high risk, given he doubted she could influence the board and he doubted that the company would ever return to its profitable heyday.
"She could just be being opportunistic ... she's enjoying the up cycle of mining, media is in a down cycle and she's buying it at the bottom to flip them out in 18 months to two years' time when the media cycle turns better," he said.
Ms Rinehart's personal wealth is believed to have recently doubled to about $20 billion through the sale of a 15 per cent stake in the Roy Hill iron ore project in Western Australia to South Korean corporate giant Posco.
That would mean her investment in Fairfax represents less than one per cent of her fortune, with Fairfax's complete market value only $1.7 billion.
Avatar's James Cameron plans New Zealand move...
James Cameron has snapped up more farmland near New Zealand's capital Wellington, not far from his Oscar-winning colleague Peter Jackson.
Cameron, the director of Titanic and Avatar, two of the highest-grossing films in history, has bought more than 1,000 hectares in the Wairarapa region, around 80 kilometres north-east of Wellington, land information records show.
The area is renowned for its rolling coastal farmland used for beef, sheep and dairy farming, along with vineyards.
News media reports say he paid around $NZ20 million for the two separate properties.
The records show Cameron and his family, who currently live in Malibu, California, plan to "reside indefinitely" in New Zealand, and operate both properties as working farms.
Jackson, possibly New Zealand's most famous export after he directed the Lord Of The Rings trilogy, owns a large estate about 20 kilometres away.
It boasts a 20-metre high castle built on an island in a lake, along with sets from his Oscar-winning films.
Jackson's next film, The Hobbit, the prequel to the Lord Of The Rings trilogy, is due out later this year.
Cameron's property purchases have firmed expectations he will make large parts of two sequels to his 3D science-fiction epic Avatar in New Zealand.
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PartyCasino Wins Media Man 'Online Casino Of The Month' Award
PartyCasino.com has been awarded the Media Man and Casino News Media "Online Casino Of The Month" award.
PartyGaming's igaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both Virgin Casino, PKR Casino and Captain Cooks Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently PartyGaming's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of Bwin.Party Digital Entertainment brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
Bwin.Party Digital Entertainment Co-CEO Jim Ryan has gone on record advising PartyCasinowill soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with Bwin.Party Digital Entertainment, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
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PartyGaming's igaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both Virgin Casino, PKR Casino and Captain Cooks Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently PartyGaming's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of Bwin.Party Digital Entertainment brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
Bwin.Party Digital Entertainment Co-CEO Jim Ryan has gone on record advising PartyCasinowill soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with Bwin.Party Digital Entertainment, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
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Monday, January 30, 2012
Oliver Speidel Wins 2012 Aussie Millions Main Event Melbourne Native Earns $1,600,000 AUD
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The 2012 Aussie Millions Poker Championship Main Event was the talk of the land based casino and poker world.
With a field of 659 entrants from all around the world turning up at James Packer's Crown Casino in Melbourne, Australia. But in the end the title stayed down under, with Melbourne’s own Oliver Speidel emerging victorious.
The 26-year-old banker was well rewarded for his win, taking home a cool $1,600,000 AUD, a diamond-encrusted gold ring, a Rolex watch, and and Aussie Millions trophy.
The $10,600 no-limit hold’em Main Event began on January 22nd, and went for seven days.
Speidel entered the final table second in chips with 3.415 million, likely feeling confidant in his game after making two final tables already at the 2012 Aussie Millions.
Speidel took the chiplead early on at the final table, and continued from there. By the time that play was four-handed, he controlled more than half of the chips in play. Speidel maintained his lead all the way into heads-up play with Kenneth Wong, of Hong Kong.
Wong started the heads-up battle off with a small comeback, but his ambitions of victory were soon history. The final hand was definitely a bit of a downer, with Wong getting the last of his chips in the middle with 9 hearts and 9 clubs, only to find himself in bad shape against Speidel’s A spades A clubs. The board brought was useless, and Wong was eliminated in second place. For outlasting all but one of the 659 entrants, Wong was awarded $1,000,000 AUD.
Here's the details from the seven-handed final table:
Place Player Earnings (AUD) POY Points
1 Oliver Speidel $1,600,000 2,100
2 Kenneth Wong $1,000,000 1,750
3 Mile Krstanoski $610,000 1,400
4 Mohamad Kowssarie $405,000 1,050
5 Patrick Healy $300,000 875
6 Bjorn Li $230,000 700
7 Yann Dion $170,000 525
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Aussie Millions Crown Casino Poker Melbourne Australia iGaming
The 2012 Aussie Millions Poker Championship Main Event was the talk of the land based casino and poker world.
With a field of 659 entrants from all around the world turning up at James Packer's Crown Casino in Melbourne, Australia. But in the end the title stayed down under, with Melbourne’s own Oliver Speidel emerging victorious.
The 26-year-old banker was well rewarded for his win, taking home a cool $1,600,000 AUD, a diamond-encrusted gold ring, a Rolex watch, and and Aussie Millions trophy.
The $10,600 no-limit hold’em Main Event began on January 22nd, and went for seven days.
Speidel entered the final table second in chips with 3.415 million, likely feeling confidant in his game after making two final tables already at the 2012 Aussie Millions.
Speidel took the chiplead early on at the final table, and continued from there. By the time that play was four-handed, he controlled more than half of the chips in play. Speidel maintained his lead all the way into heads-up play with Kenneth Wong, of Hong Kong.
Wong started the heads-up battle off with a small comeback, but his ambitions of victory were soon history. The final hand was definitely a bit of a downer, with Wong getting the last of his chips in the middle with 9 hearts and 9 clubs, only to find himself in bad shape against Speidel’s A spades A clubs. The board brought was useless, and Wong was eliminated in second place. For outlasting all but one of the 659 entrants, Wong was awarded $1,000,000 AUD.
Here's the details from the seven-handed final table:
Place Player Earnings (AUD) POY Points
1 Oliver Speidel $1,600,000 2,100
2 Kenneth Wong $1,000,000 1,750
3 Mile Krstanoski $610,000 1,400
4 Mohamad Kowssarie $405,000 1,050
5 Patrick Healy $300,000 875
6 Bjorn Li $230,000 700
7 Yann Dion $170,000 525
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Bwin.Party Digital Entertainment CEO Sees Legal Online Gaming In US Soon
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Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
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Legalized online gambling in the U.S. is now a case of 'when', not 'if', Bwin.Party Digital Entertainment PLC (BPTY.LN) Co-CEO Jim Ryan said Wednesday, adding that he expects the foundations to be laid this year.
But speaking at the ICE online gambling conference in London, the co-chief executive advised that establishing it up will take time.
The process of passing legislation, drawing up regulation, vetting and licensing operators will likely last through 2012, he said, and he speculates that actual operations likely won't happen before next year.
Partygaming, which last year merged with Austrian peer Bwin to form Bwin.Party Digital Entertainment, along with other European operators withdrew from the U.S. market in 2006 shortly after then-President George W. Bush signed a bill designed to prohibit U.S. banks and credit card companies from processing payments to gambling websites.
Partygaming paid a $105 million fine as part of a non-prosecution deal with the DOJ (Department Of Justice) in 2009, for admitting indirect contravention of US law, but in anticipation of a relaxation of the rules, Bwin.Party last year inked a joint venture with U.S. casino operators MGM and Boyd to operate online gaming if and when it became legal in the U.S.
Ryan's confidence comes after a recent ruling by the U.S. Department of Justice, which clarifies the scope of the Wire Act, a law that in the past has been used stop online gambling sites. The ruling essentially gives U.S. states the green light to allow gambling within their borders, according to online gambling experts.
Still, Ryan said this doesn't mean the company is in line to recoup any of the $105 million fine.
Bwin.Party and its joint venture partners have already applied for a preliminary suitability review in Nevada which will lay the groundwork for gaining a license there once regulation is agreed.
Ryan also told the press the sale process for its Ongame poker network is very advanced and he expects to be able to announce further news in the not too distant future.
He confirmed recent reports that the company is looking for an executive to head up its payments processing division CQR with a view to ultimately taking it public, but said this was several years away.
He said the company wants to expand its online payments operations outside of the gambling sector to build an online merchant market place, increasing the value of this asset and ultimately realising shareholder value by listing it on the stock market.
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Sunday, January 29, 2012
Aussie Millions At Crown Casino, Melbourne: Phil Ivey Wins 2012 Aussie Millions $250,000 Super High Roller
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James Packer’s Crown Casino continues to host the annual Aussie Millions Poker Championships. Here's the latest on one of the world's most prestigious poker tournaments.
The 2012 Aussie Millions $250,000 Super High Roller commenced on Saturday and went till the wee hours of the morning on Sunday.
Phil Ivey snatched the $2,000,000 first-place prize after defeating Patrik Antonius heads up.
The last live tourney Ivey showed for was back in November for the APPT Macau, but there was no win back then.
First, he placed 12th in the Main Event for $100,000, and then went on to get the largest score of his career by winning the Super High Roller.
The event attracted 16 players, and they all had to buy in with 6 figures - no misprint. The top three spots were set to be paid and a bubble of $800,000.
Among the stars taking part in the event were last year's champion Erik Seidel, last year's runner-up Sam Trickett, Tom Dwan, Jason Mercier, John Juanda and Sorel Mizzi. In addition, the event had a handful of businessmen including Richard Yong, Paul Phua and Winfred Yu.
The first player eliminated was Dwan, who went down at the hands of Gus Hansen. After the elimination of Nick Wong, Seidel busted during Level 5. He exited thanks to $100,000 Challenge winner Dan Smith after his pocket eights couldn't overcome Smith's jacks.
After Yu got out in sixth place and Mizzi in fifth, the largest bubble of the year was set to take place. The two players joining Ivey and Antonius were Daniel Negreanu and Gus Hansen. From that bunch, the only man not doing so well was Negreanu, who turned out to be the bubble boy.
On his final hand, Negreanu was all in from the big blind with the during the 5,000/50,000/5,000 level for around 750,000 after Antonius raised to 100,000 from the button. Antonius called holding two jacks and was able to hold up as the board ran out .
Hansen was the next to go down, collecting $800,000 for his finish after getting all in on the flop with the against Ivey's. Ivey built to full house and then the river completed the board.
When heads-up play began, Ivey held a slight lead with 2.2 million in chips to Antonius' 1.8 million. He won a big pot about 45 minutes into the match to extend his lead to 7:1 before the final hand came up.
Antonius was eliminated in second place. For his runner-up finish, Antonius snatched $1,200,000.
With his win, Ivey leaps over Negreanu into second place on the all-time money list. Even with his long absence from tournaments, Ivey performed awesomely at Aussie Millions. Many think Ivey is the greatest player in the world.
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Saturday, January 28, 2012
PartyCasino Wins Media Man 'Online Casino Of The Month' Award
PartyCasino.com has been awarded the Media Man and Casino News Media "Online Casino Of The Month" award.
Bwin.Party Digital Entertainment's gaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both Virgin Casino, PKR Casino and Captain Cooks Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently Bwin.Party's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of Bwin.Party Digital Entertainment brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
Bwin.Party Digital Entertainment Co-CEO Jim Ryan has gone on record advising PartyCasinowill soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with Bwin.Party Digital Entertainment, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
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PartyPoker.com
Profiles
Bwin.Party Digital Entertainment PartyCasino PartyPoker PartyBingo Circus PartyCasino Marvel Slots The Big One Melon Madness Casino World Poker Tour PartyCasino Promotions
Bwin.Party Digital Entertainment's gaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both Virgin Casino, PKR Casino and Captain Cooks Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently Bwin.Party's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of Bwin.Party Digital Entertainment brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
Bwin.Party Digital Entertainment Co-CEO Jim Ryan has gone on record advising PartyCasinowill soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
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