Videos
Austrian-based online betting company bwin released its 2010 third quarter financial report on Thursday. The firm, which is listed on the Vienna Stock Exchange (WBAG) and the Frankfurt Stock Exchange (FWB), saw its total revenues for the third quarter rise 17.7% from the same period last year, but p [...]
Poker Stocks
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bwin Third Quarter Profits Fall After Investment in French Market
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Sportingbet, Unibet Cancel Merger Talks
The online gaming world has been abuzz for the last few days over rumors that rivals Unibet and Sportingbet were in merger talks. However, both companies announced on Tuesday that negotiations have come to an end. Word of the potential business deal cropped up on Sunday with a report in LondonR [...]
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Playtech Total Revenue Up 17% in Third Quarter
Gaming Software firm Playtech posted its 2010 third quarter financial results this week and showed an increase in both gross income and revenue. The company announced gross income at €41.3 million, up 30% compared to the same period in 2009, while its total revenues were up 17% to €32.5 million, [...]
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Simon Duffy to Be Non-Executive Chairman Following Party Gaming, bwin Merger
According to a press release distributed on Friday, Simon Duffy will become Non-Executive Chairman following the merger of Party Gaming and bwin, which is expected to occur in the first quarter of 2011. Neither company accepts players from the United States. The merger, which was announced in late J [...]
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Party Gaming Revenue Up 9% in Q3 2010
According to financial information released on Friday by Party Gaming, the parent company of PartyPoker, overall revenues were up 9% to €85.3 million in the third quarter of 2010 compared to the same period last year “with growth in all products except poker.” The company is in the midst of a [...]
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Harrah’s Entertainment Goes Public With IPO
Harrah’s Entertainment Inc., the world’s largest casino company and owner of the World Series of Poker brand, filed an initial public offering (IPO) with the Securities and Exchange Commission on Monday. The company is going public just three years after private equity firms Apollo and T [...]
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Ladbrokes Quarterly Profits Up 128% in Q3 2010
Online betting site Ladbrokes PLC released its 2010 third quarter financial report this week, announcing a profit surge of 128% from the third quarter of 2009. Ladbrokes saw its profits rise from £22.4 million to £51.1 million ($81.4 million), helped greatly by World Cup betting. The company, whic [...]
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Sportingbet Releases Fiscal Year 2010 Results
Sportingbet PLC has reported to the London Stock Exchange and its shareholders a solid end-of-year report, showing increases across the board and settling legal issues with the U.S. government over the company’s business activities prior to 2006. Sportingbet, which owns Paradise Poker, ended its 2 [...]
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Betfair IPO Shares Covered After One Day
The online betting company Betfair has generated enough orders from investors to cover all shares offered on the London Stock Exchange, just a day after the company set a price range for its initial public offering (IPO). Betfair said it would sell a 10% stake to public investors at between £11 and [...]
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Online Gambling Traffic Up 40% in UK
Global information giant Nielsen Media Research recently published a study that showed that despite the global economic downturn, online gambling traffic in the United Kingdom was up 40% year over year. While online poker has without a doubt been popular, it is actually online lottery sales that hav [...]
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Casino Gambling Stocks on the Rise Following Recession
After what has been a rough period for the industry, casino companies traded on Wall Street in the United States have begun to rebound during the final quarter of the 2010 fiscal year. One company that has made a significant recovery since the midpoint of the fiscal year is MGM Resorts International [...]
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888 Holdings Reports First Half Profit Losses
888 Holdings, the gaming operator which owns 888poker, announced Tuesday that it will be cutting costs in order to address a loss in profits for the first half of 2010. The company has also decided to scrap its dividend in order to pay for acquisitions after the weak economy and World Cup caused a d [...]
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Harrah’s to Register Stock with Securities and Exchange Commission
According to Reuters, casino giant Harrah’s will register 9.9% of its stock with the Securities and Exchange Commission (SEC). The shares are currently in the hands of John Paulson, investor and hedge fund extraordinaire. Reuters claims that the reason for the move is so Paulson can receive “reg [...]
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CryptoLogic CEO Resigns Following Poor Second Quarter Results
Online poker and casino software developer CryptoLogic announced Thursday that CEO Bryan Hadfield has stepped down following a poor second quarter that resulted in record losses for the company. Hadfield, who took over the position in 2008, will be replaced by Chairman David Gavagan on an interim ba [...]
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Atlantic City Gaming Revenues Fall 5% in July
Fresh off hosting a summit on the future of gambling in New Jersey, Atlantic City casinos reported their July revenue, or “win,” this week. Year over year, casino revenues were down 5.0% to $363.9 million. All but two casinos reported decreases in win in July 2010 compared to the same month in 2 [...]
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PartyGaming Says Danish Poker Offering Ready for 2011
Despite a bump in the road in its deal with the Danish monopoly Danske Spil in June, PartyGaming told eGaming Review on Friday that its Danish poker offering will be ready to launch on January 1st, 2011. A spokesman for PartyGaming called the annulment of the Danske Spil partnership simply a “ [...]
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Ameristar Casinos Reports Lower than Expected Q2 2010 Revenues
Citing heavy construction work near one of its properties as the reason for poor performance, Ameristar Casinos, Inc. reported lower than expected financials for the second quarter of 2010. Ameristar Casinos, a publicly traded company (NASDAQ: ASCA), released its critical financial information for t [...]
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PartyGaming Posts First-Half Profit; PartyPoker Revenues Fall
PartyGaming posted an overall profit of €19.7 million for the first half of 2010 despite a drop of 9.6 percent in poker revenue from PartyPoker.com. [...]
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Playtech Reports Encouraging Quarter 2 Results
Online gaming software company Playtech released its 2010 second quarter results last week, reporting a 34% increase (€44.5 million) in gross income from a year ago and a 2% improvement on the first quarter figures from this year. The company, which is traded on London’s AIM market, saw poker re [...]
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PartyGaming PLC Earnings Remain Steady For 2010, Show Growth Over 2009
In an announcement today following the close of trade on the London Stock Exchange, PartyGaming PLC reports that, while the second quarter of 2010 remained steady despite falling slightly short of forecast expectations, earnings for the company are outpacing their results from 2009. The second quart [...]
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Former World Poker Tour Executives Turn to Oil Trade
Former stockholders of the World Poker Tour (WPT) have found success in a different line of business since selling the brand to Party Gaming for $12.3 million back in November. The company, which now goes by the name Ante4 Inc., became an energy corporation in April and has seen its share price more [...]
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Paradise Poker Pulls Out of French and Italian Markets
In breaking news out of Europe on Thursday, British e-gaming operator Sportingbet and its online poker site Paradise Poker announced that, until further notice, it will no longer accept players from France and Italy due to recent regulatory changes. Customers of Paradise Poker, considered one of the [...]
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Playtech Gross Revenues up 29% in Q1 2010
Playtech Limited released its first quarter 2010 Key Performance Indicators last week, which showed excellent growth over the first three months of 2010. Playtech owns and operates the popular iPoker Network. The company announced that its gross revenues for the first quarter of 2010 were 29% ahead [...]
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Party Gaming Revenue Up 27% in Q1 2010
Last week brought word that the internet gambling giant Party Gaming had seen its Q1 revenues grow 27% year-over-year to $127.1 million. However, average daily revenue slid 2% from the previous quarter due to strong casino performance in Q4 2009 and foreign exchange setbacks. Party Gaming’s online [...]
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Ladbrokes to Receive £80 Million Tax Settlement
British-based bookmaker Ladbrokes said Wednesday that it expects to receive a cash payment of approximately £80 million, or $123 million, from U.K. tax authorities. The company reached a settlement with HM Revenue and Customs (HMRC) to cover almost all of the outstanding items in the tax years dati [...]
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