Poker Stocks in the news
Former Amaya, Inc. CEO David Baazov has ended his bid to purchase his former company and take it private. His offer was for CAD $24 per share, a 30 percent premium over Amaya’s stock price on November 11th, the date the offer was made. The total deal would have been worth nearly CAD $3.5 billion.… Read more »
Merger talks between GVC Holdings and Ladbrokes Coral Group have broken down, according to a Tuesday report by The Financial Times. Shares in Ladbrokes Coral dropped 9 percent on the news Monday, and though they have bumped up slightly since, they have yet to get back to where they were when the markets were excited… Read more »
Ending speculation of what would be a monumental shift in the online gaming and poker industry, this afternoon Amaya Gaming, the parent company for PokerStars, and the powerful online and live betting shop William Hill admitted that they are currently in discussion regarding a merger of the companies. In a joint announcement meant to potentially… Read more »
The name David Einhorn is familiar to many in the poker community. The hedge fund manager who started one of the most watched companies in North America, Greenlight Capital, Einhorn has also shown a proclivity for poker over the past few years. He first struck poker gold at the 2006 World Series of Poker Championship… Read more »
On Monday, 888 Holdings and The Rank Group announced that they made a second proposal to acquire William Hill. William Hill announced, in turn, that it has rejected the offer. The “Revised Proposal” comes just six days after the initial proposal from 888 and Rank. Both bids had two pieces: cash and stock. The new… Read more »
About two weeks ago, gambling firms 888 Holdings and Rank Group confirmed rumors that they were teaming up to put in a bid for rival William Hill, the largest gambling concern in the United Kingdom. On Tuesday, it was announced that they not only had, in fact, put in a formal offer, but that William… Read more »
After last week’s blockbuster announcement that their Chief Executive Officer and five other men would be charged with insider trading, Amaya Gaming now has to deal with the fact that one of the top stock watchers in the industry has downgraded the outlook on their stock. Once it was announced that David Baazov, the now-former… Read more »
David Baazov, the president, CEO, and board chairman of Amaya Inc., the parent company of PokerStars, has charged by Quebec’s Autorité des marchés financiers (the “AMF”) with five securities fraud charges related to Amaya’s acquisition of PokerStars parent company, Rational Group, in June 2014. The AMF began its investigation in late 2014, an investigation which… Read more »
David Baazov certainly knows how to grab the attention of the financial and poker communities. A year and a half after his company, Amaya Inc., announced its intentions to purchase the parent of PokerStars and Full Tilt in a $4.9 billion deal, Baazov has let loose with another shocker: he is now interested in personally… Read more »
Canada-based Amaya Gaming issued a “move along, nothing to see here” statement Monday in response to rumors that have recently sent its stock price soaring upward. There seem to be two sources to these rumors. One is Industrial Alliance Securities analyst Neil Linsdell, who wrote on May 20th that Amaya may be eager to “‘trade… Read more »
According to multiple reports, the largest online gaming company in the industry, bwin.Party, is reportedly entertaining an offer for a takeover of the company to one of the most powerful entities in the internet game. Writer Geoff Foster of the Daily Mail reported that bwin.Party, which has seen its stock price slowly slide downward over… Read more »
After a disappointing fiscal report from the company, analysts are stating it is a “possibility” that Caesars Entertainment may have to sell the World Series of Poker and restructure its debt to maintain its profitability. According to VegasInc.com, the financial services company Fitch Ratings has recently downgraded the stock suggestion of Caesars Entertainment from “stable”… Read more »
In what turned out to be a tumultuous Wednesday, the parent company of the Heartland Poker Tour and the Epic Poker League, Federated Sports & Gaming, announced that they had filed for Chapter 11 bankruptcy protection. In a brief message on the FS&G website Wednesday afternoon, former World Series of Poker commissioner Jeffrey Pollack announced… Read more »
In issuing its first ever financial report as a public company on Tuesday, Zynga Inc. announced their first ever loss for the fourth quarter of 2011 while the company entertains ideas about entering into the online gambling market. The company behind Zynga Poker, the largest poker site in the world with 35 million monthly active… Read more »
In nearly identical statements on Friday morning, it was revealed that merger talks between the British bookmaking operation Ladbrokes and the online gaming conglomerate 888 Holdings have been terminated. The two companies released similarly worded statements through the London Stock Exchange on Friday. Ladbrokes’ statement read, “In response to press speculation, Ladbrokes announced on 20… Read more »
Over the weekend, 888 Holdings surprised many in the industry by announcing the resignation of its Chief Executive Officer, Gigi Levy. In a brief statement to shareholders on Saturday, 888 Holdings Chairman Richard Kilsby simply announced, “After a difficult first half of 2010, the Company has experienced three consecutive quarters of growth. Following very strong… Read more »
The merger between two gambling giants was completed on Thursday, as Austria-based bwin and U.K.-based Party Gaming formed to create the world’s largest listed online gambling company. bwin.party digital entertainment began trading Thursday with an opening share price of £1.94. The new London Stock Exchange ticker for bwin.party shares is “BPTY.” Party Gaming and bwin… Read more »
According to a report by the Las Vegas Sun, dealers at Caesars Palace have overwhelmingly voted down a labor contract that included terms requiring them to share tips with casino management. The provision would have been similar to the policy that the Wynn Las Vegas put into effect five years ago. Caesars dealers voted 303-2… Read more »
Online gaming giant bwin released its quarterly and yearly financial results Wednesday, showing slightly decreased numbers for the quarter, but solid increases across the board for the 2010 fiscal year. During the final quarter of 2010, bwin saw gross gaming revenues decline 1.6% from the third quarter to €130.8 million, while net gaming revenues fell… Read more »
Party Gaming and bwin announced on Tuesday that their proposed merger is expected to be completed on Thursday, March 31 after the Vienna Commercial Court formally entered the merger into the companies’ register this week. The merger, which would create the world’s largest gambling company under the name bwin.party Digital Entertainment plc, is still subject… Read more »
It’s not every day that a casino closes its doors. Sure, sometimes a gaming establishment is knocked down to pave the way for a brand new mega-resort, but this isn’t one of those times. The Sahara Las Vegas, once the home of icons like Johnny Carson, is closing in May. This author fondly remembers “Man… Read more »
On Wednesday, the Nevada Gaming Control Board approved the groundwork of a partnership between Caesars Entertainment and gambling giant 888 Holdings that could potentially change the legal landscape of online poker in the state of Nevada. According to a report from the Las Vegas Sun, Caesars formed a relationship with two subsidiaries of 888 Holdings,… Read more »
Recently, 888 Holdings PLC, which operates several online gaming and poker websites, released its fiscal year 2010 reports that showed tremendous growth over the previous 12 months. According to the report, the fourth quarter of last year continued a yearlong surge by the company. For the last three months of 2010, 888 showed revenues of… Read more »
In recent days, the ownership behind the payment processor Neteller officially announced several changes, including the name of the company. NEOVIA Financial PLC formally announced on Friday that the Companies Registry of the Isle of Man had approved its name change. Effective immediately, the company formerly known as NEOVIA will now be called Optimal Payments… Read more »
On Thursday, Party Gaming released its financial results for the year 2010 and reported a 15% increase in revenue over 2009’s numbers. The company, which operates PartyPoker as well as online casino games, sports betting, and bingo, earned €357.3 million ($498 million) in 2010, compared to €310.1 million ($432 million) the previous year. Party Gaming… Read more »
