Monday, August 29, 2011

PartyCasino VS Virgin Casino iGaming "war" continues, by Greg Tingle

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PartyCasino.com - Accepts Canadian, Australian and New Zealand players. PartyCasino new players get up to $3000 sign up bonus. Bwin.Party Digital Entertainment is the world's largest and most succesful igaming company.

VirginCasino.com - No US, Canadian, Australian or New Zealand players. £100 sign up bonus. Virgin Games is part of Richard Branson's Virgin Enterprises Limited.

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Tuesday, August 23, 2011

New World Series of Poker Licensee

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Sports PLC, one of Europe's leading online lesiure equipment retailers, has been appointed by Caesars Interactive Entertainment as exclusive licensee for the World Series of Poker (WSOP) merchandise in the UK and Ireland, it was announced today.

The company, based in Alvechurch, Worcestershire, will sell official WSOP products - including poker tables, gaming chips, playing cards and a host of other accessories - via its leading sports and leisure retail site www.thesportshq.com.

The World Series of Poker (WSOP) is the largest, richest and most prestigious gaming event in the world and the longest running poker tournament in the world, dating back to 1970.

Having grown the event into a globally-recognised brand, Caesars Interactive entertainment selected Sports PLC as exclusive licensee due to its track record in delivering a combination of excellent products and outstanding customer service across a range of leisure markets - including golf, cricket, health and fitness and outdoor leisure.

Announcing the three-year deal, Sports PLC CEO Simon Millington, said: "Because of the World Series of Poker, the game has developed into a huge cultural phenomenon and has made international stars of the world's leading players.

"Like snooker, poker no longer carries the stigma of being something restricted to smoky back rooms and is now much more main stream. There is a significant market in the UK and Ireland for top quality poker equipment and WSOP-branded products will secure a considerable share of that market for us.

"We've got a strong online retail presence, major warehousing and distribution facilities and a huge customer base - so we're in an excellent position to help the WSOP build its brand and popularity through official merchandise."

Previous winners of the WSOP include the famous 'Amarillo Slim' Preston and Stu 'The Kid' Unger. By 2006 the prize money on offer had eclipsed the combined purses of events like Wimbledon, golf's US Masters and the Kentucky Derby horse race.

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Saturday, August 20, 2011

Wynn Resorts May Purchase Bwin.Party Digital Entertainment, by Greg Tingle - 20th August 2011

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Earlier this year, PartyGaming and bwin merged to create Bwin.Party Digital Entertainment, which is traded on the London Stock Exchange under the symbol BPTY. In an news article that appeared in The Independent last Tuesday, it was noted that since the two online gaming giants merged, the combined company’s share price has dipped by nearly half. While part of the drop might be due to a slowing economic environment worldwide and so no action might be needed, other entities felt that an infusion could be in the offing.

The Independent added that Wynn Resorts, headed up by Steve Wynn, has emerged as a possible investor in the newly formed gaming giant, which is focused on the European market and continues to feature two separate online poker rooms. Readers will recall just before Black Friday in the United States, PokerStars and Wynn Resorts announced that, once a gaming license was secured in the United States, the two companies would team up to launch Poker Stars Wynn.

Following Black Friday, in which the founders of PokerStars were indicted on charges that included money laundering and bank fraud, the deal with Wynn was called off as you would expect.

The news outlet cautioned, however, that investors might wait for the gaming environment in the United States to be sorted out first: "Not everyone agreed with the chatter, however, with one trader saying acquisitions in the sector were unlikely until there was further clarification over the potential regulation of online gambling in the U.S."

On Thursday, shares of Bwin.Party closed at 106.50 in London. Other rumored "aggressors," as the Independent calls prospective investors, include William Hill, which is also publicly traded on the London Stock Exchange. Shares of BPTY stood above 160 pence in April, but have since dipped.

One poster on the TwoPlusTwo forum, questioned whether the rumors of a Wynn takeover were plausible: "So the newly merged Bwin.Party will sell to Wynn before even taking advantage of all the millions of Euros they will make in the first two years by virtue of the their merger synergies?"

Despite the merger, PartyPoker.com remains the flagship site of its own network, while bwin makes its home on the Ongame Network alongside rooms such as Betfair.

Caesars Entertainment, one of the principal competitors of Wynn Resorts, has partnered with 888, also a publicly traded company in London. Prior to Black Friday, Full Tilt Poker teamed up with Fertitta Interactive, whose ownership group has strong ties to Station Casinos. Along with the PokerStars - Wynn deal, the latter fell by the wayside once the U.S. Department of Justice took action in April.

Other members of TwoPlusTwo continued to cast doubt on the validity of The Independent’s report. One player wrote, "Party has never had any interest in selling. This feels like an absolute recycle of the previous such rumor that they were going to be bought out by Harrah’s. Unsurprisingly, it turns out there was never such a thing on the table and the only connection was former Party CEO Mitch Garber moving to Caesars Interactive."

Rumors have also persisted that the Ongame Network could be sold outright. To that end, Sharecast.com noted in a recent article, "Bwin.Party, the world's largest online gaming group, already has its poker network, Ongame, on the auction block. The sale is expected to generate between 20M and 30M Euros ($28.5m to $42.7m), a modest figure reflecting the loss of players the network will incur through the sale."

But could a deal between Wynn and Bwin.Party be finalized before online poker is legalized in the United States? And will it matter? This week, the New York Post published an article stating that online poker legislation could be coming sooner rather than later. One source told the Post, "I think there is becoming a feeling in Congress that this is something that needs to be regulated and be done. I believe there is a possibility a bill will pass towards the end of the year."

Media Man will be following the story with weekly reports.

*The writer has conducted b2 with Bwin.Party Digital Entertainment and Betfair.

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Tuesday, August 16, 2011

Gaming And Financial Market Report: Investors take a flutter on Bwin.party bid talk - 16th August 2011

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Takeover talk was on the cards for Bwin.party yesterday, as investors mulled over whether to take a gamble on the online gaming group after rumours emerged it could be in line for an approach from the US.

The company has existed in its current form only since March, when the merger between PartyGaming and Austria's Bwin was completed. Since then, however, a steady slide – exacerbated by the sharp falls seen across the markets in the past few weeks – has resulted in its share price plummeting by 45 per cent.

The move has prompted chatter that the world's biggest listed online gambling group may become a target, and yesterday vague speculation suggested the casinos group Wynn Resorts, whose chief executive is the Las Vegas billionaire Steve Wynn, could be a potential aggressor.

With the gossip claiming a possible bid could reach as high as 170p a share, Bwin.party managed to touch 107.8p during trading before closing at 105.7p, a rise over the session of 1.7p.

Not everyone agreed with the chatter, however, with one trader saying acquisitions in the sector were unlikely until there was further clarification over the potential regulation of online gambling in the US.

The recent rumours came after mutterings last week suggested potential aggressors for Bwin.party could come from closer to home, with William Hill – up 1.9p to 224p – one of the names linked.

Those in the City returning to their desks after the FTSE 100's volatile movements last week would not have been blamed for being somewhat fearful over what the days ahead would hold, yet the top-tier index ended up powering forwards 30.55 points to 5,350.58, its third consecutive session on the rise.

Nonetheless, traders were still cautious. "We are not out of the woods yet," said one, who added that he would feel more confident if the banks managed a sustained rally as well. That was certainly not the case yesterday as – with nerves raised ahead of today's key meeting between German Chancellor Angela Merkel and France's President Nicolas Sarkozy on the eurozone crisis – the sector was left in the red.

Following reports suggesting "ring fencing" proposals could be tougher than anticipated, Barclays dropped 3.85p to 183.35p, while Lloyds Banking Group was 0.59p behind at 33.23p. Meanwhile, HSBC fell 4.6p to 547.2p despite being picked by JP Morgan Cazenove as one of the more attractive stocks after the recent sell-off.

Saying that "equity markets are oversold and [we] see many signs of panic", the broker added that "indiscriminate selling is offering great opportunities if one can look through the current extreme volatility."

Also among its picks were Amec, which finished 43.5p stronger at 949p, and Xstrata. The latter was lifted 21.5p to 1,092.5p, and – with data from Japan showing its economy for the second quarter had shrunk less than feared – the rest of the miners were also rising.

SABMiller pushed up 15p to 2,105p after Nomura raised its glass to the Grolsch brewer and toasted its emerging markets exposure. Cutting its growth expectations for the amount of beer consumed in Western Europe and US, the broker pointed out that around 84 per cent of SABMiller's profits come from outside these regions and raised its recommendation to "buy" as a result.

However, Nomura's analysts were less keen on Diageo, dropping its advice to "neutral", thanks to its new estimates that spirit volumes Stateside will rise only 1 per cent next year, although the owner of Smirnoff vodka and Bell's whisky still ticked up 11p to 1,189p.

Down on the FTSE 250, there was a definite appetite for Domino's Pizza as the pizza delivery company – recently the subject of bid rumours – surged forwards 24p to 486.8p, helped by Peel Hunt upgrading its rating to "buy".

As well as claiming that investors now have "a rare second chance to buy into Domino's iconic marketing enterprise", the broker's analysts added that they would "also take seriously recent social developments which, even after calm has been restored, may result in a subtle shift between the considerations for going out as opposed to staying at home".

The wooden spoon on the mid-tier index was taken by Michael Page, with the recruiter dropping sharply as it released its interim results. The company ended up shedding 32.4p to finish at 368p after saying it was being knocked by hiring freezes among the European banks, several of which have recently announced large job losses.

It was a good session for the explorers operating off the coast of the Falkland Islands, with Rockhopper increasing its estimates for its Sea Lion discovery. As a result it spurted up 19.25p to 237p on the Alternative Investment Market, while Desire Petroleum – which operates in the same region – was 2.25p higher at 19.25p.


Sportingbet chatter a rare ray of light in a gloomy market; UK Report...

Takeover tittle-tattle engulfing the internet gambling industry provided a welcome distraction on an otherwise miserable morning in the markets today.

Sportingbet, at present being courted by Ladbrokes, rose 3.3p to 53.7p as investors bet that a deal is imminent. Sportingbet's rival GVC Holdings said it is in exclusive discussions with the company about buying its Turkish language website. According to Evolution Securities, a sale of the site would "pave the way for a Ladbrokes takeover [of Sportingbet]."

Recycled bid speculation also pushed Bwin.party Digital Entertainment into first place on the FTSE 250 winners' list. The ludicrously named gambling group is rumoured to be in the sights of either bookmaker William Hill or a predator from across the Atlantic, Wynn Resorts. Gossips named a price of up to 170p per share for an approach: that's already 10p more than they were dreaming about last Friday. Bwin.party, formed from the merger of PartyGaming and Austria's Bwin, surged 7.4p to 113.1p.

UBS also gave the stock a boost, noting that it is trading at levels last seen during the market panic which ensued after the collapse of Lehman Brothers. That is, according to the big-hitting bank, despite the prospect of €55 million (£48.3 million) of "merger synergies", the demise of a major rival (Full Tilt Poker) and better-than-ever prospects for re-entering the US poker market.

But analyst Simon Whittington added that first-half results at the end of the month are likely to be lacklustre and may provide an even better buying opportunity. He is a buyer of Bwin, and has a 185p price target.

Shares in London ended their three-day winning streak after disappointing German GDP data renewed investors' fears for global growth. The FTSE 100 fell 55.16 points to 5295.42, dragged down by mining stocks because of their exposure to economic growth. Xstrata dropped 35½p to 1057p, Kazakhmys lost 28p to 1022p and Chilean copper producer Antofagasta shed 34p to 1230p.

Car parts maker GKN was the worst performer on the top flight though, off 7.5p at 194.7p, as auto stocks were sold-off amid concerns that the economic slowdown will hit demand.

Only a smattering of blue-chips managed to post any gains. They were mostly "safe haven" stocks: drug-makers Shire and GlaxoSmithKline ticked up 14p to 1965p and 5p to 1282p respectively, and gold miner Randgold Resources climbed 60p to 6240p.

Recruitment firm Harvey Nash was 4p up at 72p as investors applauded a 40% jump in first-half profits. Polo Resources surged 0.4p to 5.3p after doubling its proposed special dividend to 2p per share. It comes after the mining investment vehicle sold its stake in Caledon Resources.


PartyCasino.com new players get up to $3000 sign up bonus via Media Man and Casino News Media

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Saturday, August 13, 2011

Poker News Media: Modest growth expected for gaming - 13th August 2011

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Australian gambling companies are expected to report modest growth in earnings this reporting season as consumers rein in their discretionary spending and casino operators face tough competition from overseas.

"Gambling is part of discretionary expenditure, so I'm anticipating that gambling expenditure will be down," Morningstar gaming analyst Ross MacMillan said.

Earnings in the gambling sector may grow two or three per cent, but "It's going to be very subdued earnings growth if we see any at all," Mr MacMillan said.

The outlook for the current financial year was expected to be very cautious and limited in detail.

Mr MacMillan anticipated most companies would hold off providing guidance until their annual general meetings when they would have at least three months of performance under the belt.

The big issue for Tatts Group and Tabcorp would be the source of future growth, he said.

Tatts and Tabcorp hold a duopoly over poker machines in Victoria outside of the Crown casino in Melbourne. The Victorian poker machine licence expires in 2012.

Tabcorp was recently awarded a new wagering and betting licence in Victoria, winning it over Tatts. The wagering licence allows Tabcorp to offer wagering on thoroughbred, harness and greyhound racing and other sporting events.

Lower gambling expenditure would affect revenues, so gambling companies would have to look at cutting costs, Mr MacMillan said.

He said Tatts would be looking to strip out as many costs as possible from the NSW lottery business it acquired in March 2010.

Tatts also would think carefully about the South Australian lottery business, which is likely to come up for sale in the next 18 months.

Mr MacMillan said the main issue affecting the Tabcorp results would be the recent demerger of its casino operations - now known as Echo Entertainment Group - which would make Tabcorp's accounts "messy".

An issue facing casino operators Crown and Echo was the size of the capital expenditure needed to revamp their casinos so they could compete with big new casino-resorts in Singapore and attract more VIP gamblers (high rollers) from China.

"This is a real issue: whether it (capital expenditure) will continue in the future," Mr MacMillan said.

Fat Prophets gaming analyst Greg Fraser said consumer spending had been weak and was likely to be reflected in gaming results at the "grind end" of the market.

Mr Fraser said he expected a reasonable result from Tatts Group.

Although a larger proportion of Tatts' earnings now came from lotteries, gaming operations were likely to attract attention because that's where uncertainty lay.

"Having missed out on the Victorian wagering licence, it'll be interesting to see what they (Tatts) say about their future now and what their plans might be," Mr Fraser said.

Tabcorp also needed to detail its plans for the new Victorian wagering licence and explain how the company would replace gaming machine earnings once they disappear in 2012, he said.

Among the casino operators, Crown's result was likely to be stronger than that of Echo Entertainment, largely because Crown had spent its money on refurbishments and re-organising its gaming floors sooner and, arguably, more effectively than Echo.

Much of the Star City refurbishment was aimed at non-gaming activities, so the casino's success over the next year should be measured by the increase in visitation numbers.

"In that sense, it's the outlook statement for Echo this time that is perhaps more important than this year's financial result," Mr Fraser said.

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Thursday, August 04, 2011

Poker News Media: What's The Craic? THE PKR World Poker Tour® Ireland Set For January 2012

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LOS ANGELES – 2nd August 2011 -- World Poker Tour ® is thrilled to announce a new date for its historic 10th season, as the main tour stops on the Emerald Isle for the very first time. The PKR.com WPT Ireland, featuring a €2,500 buy-in (10% withheld), will take place at the legendary City West Hotel in Dublin from Thursday 5th January – Sunday 8th January 2012.

WPT Ireland is the first event in a three-year deal inked between the World Poker Tour and leading next generation online poker room PKR.com, renowned for its thriving community and innovative 3D software.

As well as being a major tour stop that will award a $25,500 seat for the WPT World Championship, the PKR.com WPT Ireland will also incorporate the popular Irish Poker Championships, formerly held in Galway in early January. The €750 IPC Event will be part of a competitive series of side events to be announced shortly. Additionally, qualifiers coming through PKR.com will also win exclusive access to the PKR WPT Experience. Continuing on from their popular series of events during the WSOP in Las Vegas, players will now get to enjoy great parties and special events in Dublin around the WPT Main Event.

Adam Pliska, President of the World Poker Tour said: “We are excited to be join with our partner PKR.com to bring the World Poker Tour to Ireland for the very first time. The history and heritage of poker in the Emerald Isle make it a tremendous tour stop and the beautiful City West Hotel and all of its top-notch accommodations will make this a memorable event.”

Simon Prodger, Marketing Director of PKR said: “We are delighted to partner with the World Poker Tour to bring an event to Ireland for the very first time. Dublin will be a fantastic tour stop and we think the combination of high quality poker and the Irish spirit of fun will draw players from all over the world.”

Online qualifiers get underway on PKR.com later this month.

The most recent stop on the World Poker Tour, WPT Slovenia, presented by Goldbet.com, was won by Slovenia’s Miha Travnik, a 20-year old playing in his first major live tournament, who took down $144,399, including a $25,500 entry to the 2012 WPT World Championship at the Bellagio. Next month the highly anticipated Legends of Poker kicks off WPT Season X in the US on August 25 at the Bicycle Casino outside Los Angeles. Prior to shuffle up and deal, WPT will hold a press conference announcing a variety of new initiatives and developments for Season X, as well as award World Poker Tour Season IX Player of the Year Andy Frankenberger his POY trophy.

ABOUT WORLD POKER TOUR
World Poker Tour (WPT) is one of the most recognized names in internationally televised gaming and entertainment with brand presence in land-based tournaments, television, online and mobile. Leading innovation in the sport of poker since 2002, WPT ignited the global poker boom with the creation of a unique television show based on a series of high stakes poker tournaments. WPT has broadcast globally in over 150 countries and territories and is currently airing its all-new ninth season on FSN in the United States. Season 9 of WPT is sponsored by ClubWPT.com, a unique online membership site which offers inside access to the WPT as well as a sweepstakes-based poker club and is available in 35 states across the U.S. WPT participates in strategic brand license, partnership and sponsorship opportunities. WPT is a subsidiary of bwin.party digital entertainment plc. For more information, go to WorldPokerTour.com

ABOUR PKR (WWW.PKR.COM)
PKR is a revolutionary new concept in online poker that has changed the way the game is played. Featuring stunning real-time 3D graphics and a uniquely engaging and immersive gaming system, PKR brings an unparalleled and previously unseen level of realism to online poker. Developed by some of the brightest stars in the video games and poker industries, PKR continues to be the most innovative poker room in the world.

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Tuesday, August 02, 2011

Australian Gambling News, by Greg Tingle - 1st August 2011

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Media Man and Casino News Media with another special feature on Australian gambling news. Be it land based casino news or online casino news, we have your number!


Punter Who Found $200 Convicted Of Stealing...

A Perth man was convicted of stealing for picking up $200 on a casino floor, officials say.

Adrian Lamonica-Miraglio, 22, was found guilty in Perth Magistrate's Court Monday on one count of stealing.

Lamonica-Miraglio, an apprentice refrigeration mechanic, was having drinks with friends at the Burswood Casino in Perth, Australia, March 27th when he noticed the $200 on the floor.

"I noticed there was a note on the floor … I put my foot on it and dragged it," Lamonica-Miraglio told the court. "Once I picked it up there were not that many people around. I hadn't decided to do anything with it."

Mr Hammond told the court it would be “preposterous” to start questioning people inside a casino if money dropped on the floor was theirs.

“I’d imagine there would be a flurry of hands with people saying "It's mine, it's mine,” Mr Hammond said.

“The facts are he believed the money had been abandoned.”

The man conceded he made no effort to find the rightful owner of the money or notify casino staff until questioned by them.

"The accused knew [the money] was not his," Magistrate Wayne Tarr said. "He made a deliberate attempt to conceal it from the victim."

Lamonica-Miraglio's lawyer, John Hammond, said the way his client was treated by the court and by security at the time of the incident was "oppressive."

"He was held in a cell for nearly 3 hours … it was overkill," Hammond said.

Lamonica-Miraglio was fined $500 and ordered to pay more than $300 in court costs.


Passionate Gambler Legal Problem After Breaching Land Based Casino Bans...

An enthusiastic gambler has faced the strong arm of the law - court charged for the 10th time with breaching a ban on entering the Gold Coast and Brisbane casinos.

Ransome "No Randsom" (satire) Williams, a 22 male is front and centre re an exclusion order from Jupiters Casino on the Gold Coast and Treasury Casino, the pride of Brisbane aka "Bris Vegas", imposed way back in 2007.

Williams faced Southport Magistrates Court Monday in handcuffs charged with entering or remaining in a (land based) casino contrary to an exclusion order.

The court heard he was caught on surveillance camera at Jupiters at 3.15am last Thursday.

Police prosecutor Senior Constable Nicole Conditsis said it was Williams' 10th breach of a casino exclusion order.

Duty lawyer Peter Lancaster said Williams acknowledged a gambling and alcohol problem and arrangements had been for him to go into a Salvation Army rehabilitation program.

Magistrate Brian Kilmartin said Williams had already spent two days in custody and considered this was sufficient punishment.

A gambling insider joked "Now this is one punter who is much better off checking out online gambling via the portals Australia is so well known for".


FITCH Affirms Crown at 'BBB'; Outlook Stable...

August 01 (Fitch) Fitch Ratings has affirmed Australia's gaming and entertainment operator Crown Limited's (Crown) Long-Term Issuer Default Rating (IDR) and its senior unsecured rating at 'BBB'. The Outlook on the IDR is Stable.

Crown's ratings are supported by the strong market position of its domestic Australian gaming assets - one in Melbourne, Victoria and the other in Perth, Western Australia. These assets have demonstrated consistent cash flow generation, which in part reflect the contributions from stable and predictable local markets and represent over 50% of consolidated revenue, and in part Crown's position as the sole licensed casino operator in the respective regions. Underlying demand for gaming expenditure is supported by expected continued growth in household disposable income (HDI) and by population increase. Offsetting these strengths is the concentration of operating assets in two casinos from which all cash generation is derived.

The Australian assets are in the midst of a capital-intensive cycle with a significant amount of capex still to be spent over the next three fiscal years. In Fitch's view, not only will expansion and property upgrades improve earnings growth, they will also ensure that Crown is well-positioned, particularly in Perth, to manage the impact on the VIP program play sub-segment from increased competition from new integrated resorts in Southeast Asia. Fitch notes that the challenge for Crown from the Singapore casinos will be the convenience to Singapore (versus Perth) for the VIP player.

Expansionary capex will tail-off considerably from FY13, at which time Fitch expects Crown to generate material cash generation, with free cash flow (pre-dividend) to sales margin exceeding 14%. The agency also takes comfort from Crown's publicly stated commitment to its core Australian operations. This focus factors positively into Fitch's assessment of Crown's overall business risk.

Risk associated with Melco Crown Entertainment Limited (MCE), Crown's key investment outside of Australia, has reduced significantly following the completion of various properties and a ramp-up in earnings. Furthermore, MCE has demonstrated a capacity to access a range of debt capital markets (its RMB bond issue and refinancing of its City of Dreams project loan) without shareholder support.

In view of the concentration of assets, and the business risk profile of gaming companies in general, it is unlikely that ratings would be upgraded by more than one notch, irrespective of credit metric levels. An upgrade may be considered if net adjusted debt (excluding working capital cash) to EBITDA falls below 1.75x on a sustained basis. Crown would need to demonstrate that it has rebounded from the competitive pressures presented by Singapore's integrated resorts, and that it has established a track record relative to these resorts. Another important catalyst to any positive rating action includes significant completion of the extensive capex that Crown is undertaking. This would need to be combined with ongoing evidence that Crown's focus will remain on lower-risk assets.

Conversely, if net adjusted debt (excluding working capital cash) to EBITDA increases above 2.5x, this would be a catalyst for a negative rating action. Also, a significant negative regulatory action or material additional financial support of investments could lead to a negative rating action.

With regards to negative regulatory action, Fitch notes that the profitability from electronic gaming machines may be negatively affected by the introduction of mandatory pre-commitment measures, the introduction of which remains unclear, and the financial impact to Crown difficult to measure.

Media Man 'Online Casino Of The Month' Awards

BwinParty's PartyCasino picked up the Media Man 'Online Casino Of The Month' award for July. Their casino is also a strong chance to make the shortlist again this month. Richard Branson's Virgin Casino is also in the running (doesn't accept Australians or New Zealanders), and Grand Reef Casino and Paddy Power Casino are also looking like they will make the finals this month. Grand Reef and Paddy Power can accept Australians and New Zealanders. Insiders tip that Grand Reef Casino and Paddy Power are positioned to pick up a void left by Microgaming's Captain Cooks Casino. Captain Cooks's loss looks to be PartyCasino's, Grand Reef's and Paddy's gain. That's the igaming business for you. Please bet responsibily and have fun.

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