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Penn National Gaming announced Monday that it has agreed to acquire Pinnacle Entertainment for $2.8 billion in combined cash and stock. Pinnacle shareholders will receive $20 per share of Pinnacle plus 0.42 shares of Penn National stock for each Pinnacle share they own. The implied price per share is $32.47, a 36 premium for Pinnacle… Read more »
I know sports betting is illegal in most of the United States, but dammit, it still really grinds my gears when a sports betting or betting-related enterprise, event, or site that otherwise isn’t hurting anyone gets busted. That’s what happened last week when federal agents shut down Ron & Mike’s Football Pool, seizing money and… Read more »
Caesars Entertainment Corporation has announced that it has entered into an agreement to sell Harrah’s Las Vegas to VICI Properties for $1.14 billion. If this sounds rather shocking, you may be relieved to know (or not really care, as the case may be) that it is all part of a plan. In mid-November, Caesars announced… Read more »
The Chengdu Pandas came back from near elimination to advance through the playoffs and win the inaugural season of the Global Poker League (GPL) China. The team won one million Yuan – approximately $151,000 – and donated five percent of it to charity. The twelve teams participating were as follows (listed alphabetically): • Beijing Great… Read more »
When I was a freshman in high school, won the botany division of my high school’s science fair and advanced to the city-wide/regional competition. I didn’t win top honors, but there were other, independent awards handed out; I was fortunate enough to win one, called (and I’m probably not being quite accurate here, as this… Read more »
Las Vegas police are still searching for a man who robbed the Bellagio poker room cashier cage at gunpoint Tuesday afternoon. In a brief news conference, Las Vegas Metro Police Capt. John Pelletier said that his department is “comfortable and confident” that they have enough information that will eventually lead to the thief’s capture. Other… Read more »
As two Senators renew a quest to ban online gambling in the United States, another prominent figure is supporting the all-out national legalization of sports betting. On Monday, NBA Commissioner Adam Silver spoke with ESPN Radio’s Mike Golic and Trey Wingo on the aptly named “Golic and Wingo” show and addressed, in part, his desire… Read more »
Gambling industry consolidation talks have started up again, this time with Australian bookmaker CrownBet as the acquisition target by both William Hill and Paddy Power Betfair. CrownBet is 62 percent owned by Crown Resorts – Crown Melbourne is the host venue of the popular Aussie Millions poker series – which is itself part of James… Read more »
Wherever there is money, there is the potential for trouble. And A LOT of money circulates at casinos every day. As such, casinos are required to hyper aware of what is happening on their premises and must have procedures in place to report anything suspicious. Apparently, the 100-plus year old Artichoke Joe’s Casino in San… Read more »
Nigel Eccles, co-founder and CEO of daily fantasy sports (DFS) giant FanDuel, announced that Monday was his last day at the company. Matt King, the CFO of FanDuel from 2014-2016 will step into Eccles’ vacated role. Between his previous stint at FanDuel and now, King was equity partner and President of Regional Operations and Corporate… Read more »
Libratus, the artificial intelligence powered by a multi-million dollar supercomputer that crushed teams of poker players in No-Limit Hold’em twice this year, was honored with the 2017 HPCwire Readers’ Choice Award for Best Use of AI last week. The Libratus Poker AI was developed by Tuomas Sandholm and Noam Brown at Carnegie Mellon University. I… Read more »
The United Kingdom Gambling Commission (UKGC) unveiled a five-point strategy on Tuesday designed to make the gambling market “fairer and safer for consumers.” Forward-looking through 2021, the strategy looks to balance consumer safeguards with industry growth. The report opens by citing a few select statistics about gambling in the UK. Of the 50 million people… Read more »
PokerNews.com, one of the longest tenured poker news sites in the industry, admitted yesterday what was really a poorly-kept secret: it is owned by PokerStars. The revelation, which was surprising in that iBus Media – PokerNews’ corporate name – pretended like nobody really knew, was made during an internal conference call and then posted as… Read more »
The UK Gambling Commission (UKGC), along with three other regulatory agencies, has sent out a firm warning to the country’s licensed online gambling operators, telling them that they must immediately stop advertising to children, regardless of whether or not the ads have been intentional. The topic of advertising to minors has been a hot one… Read more »
A Clark County, Nevada District Court Judge isn’t making it easy for Australian poker pro Matthew Kirk to get $2 million back from King’s Casino owner Leon Tsoukernik, but she did leave the window open a crack for Kirk to keep trying. In a decision on Friday, District Judge Linda Marie Bell tossed out all… Read more »
Fear of gambling keeps getting harder to justify for professional sports leagues as MGM Resorts International has purchased the WNBA’s San Antonio Stars and will move the team to Las Vegas for the 2018 season. After decades of staying away from the gambling capital of world, the leagues are now flocking there. The NHL’s Golden… Read more »
The long dormant Atlantic Club Casino Hotel in Atlantic City may have a buyer, according to a report by The Press of Atlantic City. Dale Schooley, directory of TJM Properties, told The Press that his company is waiting on the “hard money” portion of the deal before things can be finalized. He would not say… Read more »
It has been a rough couple days in the United States and in the poker/gambling community as we all try to wrap our heads around the nightmare that unfolded Sunday night as a gunman sitting in a 32nd story room at the Mandalay Bay in Las Vegas rained gunfire down onto 20,000-plus concert goers outside… Read more »
You know what I have never thought to myself while playing Pac-Man? “I’d really love to have some money riding on this.” Soon, that non-dream of mine will become a reality (is that the correct way to phrase that?) as Gamblit Gambling, LLC and BANDAI NAMCO Entertainment will debut Pac-Man Battle Casino at the Global… Read more »
Here’s something: the Oregon Lottery doesn’t like gambling. Oh wait, let me edit that. The Oregon Lottery doesn’t like gambling when it is not the one making money off of it. According to the Willamette Week, the Oregon Lottery and the Portland Meadows Racetrack continue to be at odds regarding the racetrack’s popular poker room.… Read more »
Gaming technology developer Scientific Games recently announced that it has agreed to acquire digital gaming provider NYX Gaming Group Limited. According to a press release, the purchase – financed with a combination of cash and debt – will be for CAD $2.40 per outstanding share of NYX, amounting to a total of approximately CAD $775… Read more »
The Garden City Group (GCG), the Department of Justice-appointed claims administrator for millions of dollars-worth of lost Absolute Poker and UltimateBet deposits, announced this week that the deadline for claims submissions has passed. Petitions that were filed on time are being reviewed and after that phase is completed, the GCG will move on to look… Read more »
Six men with alleged connections to the Russian mafia were charged with a series of crimes related to the intentional burning of a New York residential building that housed a poker club run by a rival. The 33-count superseding indictment was unsealed last week in the United States District Court for the Eastern District of… Read more »
Four online gambling sites are in hot water with UK regulators over internet advertisements masquerading as news. Fake news, if you will. 888, Ladbrokes, Casumo, and Sky Vegas were all scolded by the UK’s Advertising Standards Authority (ASA), the country’s independent regulator for advertising, but it does not appear that there will be any monetary… Read more »
Daily fantasy sports (DFS) leaders DraftKings and FanDuel reached settlements with the Massachusetts Attorney General’s Office last week after AG Maura Healey completed an investigation into the companies’ alleged unfair and deceptive business practices. Each company will pay $1.3 million, with the money going to consumer protection and an AG’s Office program to “engage young… Read more »
