Poker Stocks in the news
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. The ownership behind… Read more »
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 decline… Read more »
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 “registered, common voting stock.” eGaming Review noted that… Read more »
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 basis. Hadfield joined CryptoLogic as a director in… Read more »
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 2009. The big… Read more »
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 “technical blip,” but the… Read more »
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 the second quarter 2010 last week, with the numbers showing a downturn… Read more »
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. Read more »
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 revenues decrease 13% from last year… Read more »
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 quarter for PartyGaming – which encompasses the late spring and… Read more »
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 than double… Read more »
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 pioneers of the industry, were unable to access… Read more »
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 of the same time period in 2009. Its… Read more »
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 poker room, PartyPoker, took a tumble. Revenues of… Read more »
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 dating back to December 2007. Ladbrokes noted that… Read more »
PartyGaming, operator of PartyPoker, announced Monday that it had entered into a partnership with one of France’s largest television broadcasters. The deal will have PartyGaming provide a white label online poker room for AB Groupe, a company with 15 subscription channels and 52 million paid subscribers across France and other French speaking countries. The new… Read more »
In what has been a long-rumored business deal in the poker community, Reuters India is reporting that the prospective merger between online gaming giants bwin and Party Gaming may occur this summer. In a Format magazine article cited by Reuters, unnamed officials involved in the discussions stated, “The merger should be wrapped up this summer,”… Read more »
Last week, the Swedish gaming supplier Entraction signed an agreement with the online poker site Betsson to supply gaming-related software. The deal will allow Betsson to join into the Entraction Network. Read more »
Morgan Stanley has pulled out of the Revel Casino project that started back in 2007. The Revel, which has an estimated price tag of $2 billion, has been plagued since the beginning of construction by the economic downturn and a lack of funding. Read more »
British-based gambling company Ladbrokes announced this week that Richard Glynn will be appointed the company's next Chief Executive Officer. Glynn, 45, has served as Chairman of Sporting Index since May 2008. Read more »
Online gaming group Party Gaming, best known for its poker room PartyPoker, announced that it has signed an exclusive multi-year agreement to provide online poker to bookmaker Pari Muteuel Urbain, France's monopoly betting operator. Read more »
As most companies in the online gaming world continue to roll out their 2009 fiscal reports, many have reflected last year's softer economy in their revenues. On Wednesday, PartyGaming PLC was the latest to announce its 2009 fiscal reports. Read more »
The gaming corporation William Hill PLC announced its 2009 Fiscal Report late last week; the online gaming sector helped to drive the company through a difficult year. Read more »
Following its acquisition of an Italian online gaming asset, the European gaming giant bwin was able to show a profit in both its fourth quarter gross revenues as well as for the Financial Year 2009. Read more »
On Wednesday Party Gaming PLC, the parent company of PartyPoker, announced the financial results for the fourth quarter of 2009 and preliminary results for the fiscal year 2009. Read more »
