World Series of Poker Main Event Begins Airing on ESPN
On Tuesday night, the 2010 World Series of Poker (WSOP) Main Event began airing on ESPN with a pair of one-hour episodes highlighting Days 1A and 1B. A stirring introduction by reigning Main Event champ Joe Cada touted the feature table as “the table where dreams come true.”
The first one-hour episode covered Day 1A of the Main Event, with a feature table that included Full Tilt Poker pro Mike Matusow and bracelet winner Jason Lester. Every player received 30,000 in chips and Matusow donned an “I Am McLovin” shirt for his kickoff day. “The Mouth” has recorded four top 100 finishes and two final tables in the Main Event since 2001. Christopher Mintz-Plasse, who plays McLovin in the movie “Superbad,” turned 21 two weeks prior to the Main Event kicking off this year.
Out in the field were a variety of pros, including former Main Event champs Bobby Baldwin, Chris Moneymaker, and Greg Raymer, the latter of whom doubled up John Bennett with top pair against a set. The hand dropped Raymer to just 1,200 in chips and he was later eliminated with pocket eights all-in pre-flop. Raymer, who gave the Day 1A “Shuffle up and deal” command, signed over his signature fossil and departed the Amazon Room at the Rio in Las Vegas.
Ted Forrest, in the midst of competing in a $2 million weight loss prop bet against Matusow, doubled up and, over at Table 2, eight-time bracelet winner Erik Seidel tangled with Taylor Larkin. Seidel 3bet to 2,325 with A-6 and Larkin, holding A-K, made it 6,500. Seidel responded by 5betting to 17,000, or over half of the starting stack, and Larkin moved all-in for 17,000 more. Seidel thought briefly before laying his hand down.
Hands featuring Scott Seiver, Isaac Haxton, Peter “Nordberg” Feldman, Dallas Mavericks star Shawn Marion, and Abe Mosseri were shown and, back at the feature table, ESPN displayed Matusow’s vital stats. “The Mouth” boasted a VPIP (Voluntarily Put Money into the Pot) of 32% and an Aggression Factor of 40%. However, he promptly dropped half of his stack to former World Poker Tour Southern Poker Championship winner Allen “AawwNutz” Carter when he whiffed on a diamond flush draw.
After T.J. Cloutier and Ray Romano were shown the door, Matusow followed suit by running top pair into Carter’s middle set. Just prior, a dealer error had resulted in Matusow’s dealt ace being exposed. After looking at his other hole card, which was also an ace, Matusow became quite perturbed.
The second episode profiled Day 1B of the 2010 WSOP Main Event. The feature table hosted Gavin Smth and Ivan Demidov, while Table 2 sported 2007 WSOP Europe Main Event champ Annette Obrestad, who was playing in her first WSOP Main Event on U.S. soil. Obrestad’s run featured multiple exclamations of “So sick,” as she flopped a boat and ran into a higher boat in one hand. Then, Obrestad doubled up with pocket nines after check-raising all-in on a 10-high board. She received a call from an opponent with pocket jacks, but hit a nine on the turn to stay alive.
Former UB.com pro Liv Boeree, cancer survivor Thuy Doan, and Erick Lindgren’s better half Erica Schoenberg were all in the field. The comment of the night belonged to ESPN commentator Norman Chad, who introduced Schoenberg as follows: “Like me, she is a former model and personal trainer.” Lindgren hit the rail immediately after Chad’s intro, raising all-in on the flop with a flush draw against a player with two pair. Lindgren hit his flush on the turn, but his opponent rivered a full house.
Elsewhere in the field were Jean-Robert Bellande, Unabomber Poker pro Phil Laak, and Deepstacks instructor Tristan “Cre8ive” Wade. At the feature table, Smith doubled up after check-raising all-in with middle set on a flop of 7-9-Q. Smith turned a full house and the river was no help to his opponent.
The exits of Bertrand “Elky” Grospellier, Joe Sebok, Jennifer Tilly, and Boeree on Day 1B were highlighted. Then, Obrestad moved all-in less the chip protecting her cards with A-J on a flop of 2-2-9. Two-time bracelet winner Chris Bjorin called with pocket queens. A jack hit on the turn and an eight came on the river, sending Obrestad into the Las Vegas night. The internet whiz finished with four cashes and no final tables in the 2010 WSOP.
Action from the Main Event continues next Tuesday on ESPN at 8:00pm ET. Once again, two one-hour episodes will air. (Credit: Poker News Daily)
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Australian Casino, Poker and Political News, by Greg Tingle - 14th August 2010
Australian Casino, Poker And Political News
Australia is once again home to some of the world's most interesting and unique casino, gambling, poker and political news this week. Movie stars with 3D presentations at Aussie casinos, casino gang crime, Australian rock legend to release slot game to pubs, poker tours, political election betting, shake ups in Australian gaming and gambling landscape and more. Media Man and Gambling911 continue to bring you the best. The late, great Kerry Packer would love this edition, we're sure... proxy if need be... its worth it punters...
Crown Casino Chinatown Crime Figures Busted...
A Crown Casino VIP high roller and a Chinatown restaurateur personality are accused of heading up a Melbourne crime syndicate targeted by police over the past 48 hours in a series of explosive raids, arrests and record-breaking asset seizures. The alleged crime bosses of the multi-million dollar Melbourne drug ring that spent massive sums on property, gambling and overseas interests are set to appear in court after overnight out-of-sessions hearing. Crown Casino high roller Thi Nho Le and husband Thanh Hai Pham, both 46, spent the night in police cells with 6 other alleged members of the syndicate. Police allege it trafficked more than 30 kilograms of heroin in Melbourne and earned over $20 million in the past 9 months. Named and known as the Le Syndicate after the family that allegedly controls it, Ms Le's younger sister Thi Nho Em Le, her brother and their partners all faced a court hearing at St Kilda Road police complex early yesterday morning. Thi Nho Em Le's partner, businessman and restaurateur Kai Sin Mong, is also alleged to be a key player in the syndicate that police state has built a business empire including a Chinatown restaurant and a western-suburbs based petrol station. The group is accused of manufacturing and distributing large amounts of heroin, from locations including a flat in Napier Street, Fitzroy, laundering money and loaning money to other drug cartels and gamblers. Detective Acting Sergeant James Cole told the court that members did business at James Packers' Crown Casino's high-roller Mahogany Room, purchased a number of properties and businesses to conceal the proceeds of crime and sent money offshore to Vietnam, including a recent whopping $920,000 money transfer. This was allegedly used to create a multi-million dollar property portfolio, which may have been kicked along by plans to purchase a United States $2.5 million hotel. The mob aka triad were among 21 people arrested in a series of raids at properties in Melbourne's western and inner-northern suburbs, including Fitzroy commission flats, after a painstaking 10-month investigation.
Stay tuned to Gambling911 and Media Man for more details.
Jupiters Hotel and Casino: Avatar 3D Celebs Connection...
Film director James Cameron is backing up at the Australian International Movie Convention (AIMC) on the Gold Coast this season showing footage of his 3D underwater epic Sanctum. Cameron impressed delegates away when he showed exclusive footage from his blockbuster Avatar last year, now, 12 months later, he plans to wow the town again. Star of the Sanctum, Rhys Wakefield, and producer Andrew Wight, will attend the happening at Jupiters Hotel and Casino this Wednesday when Universal Studios will present the scenes. The media opp will help combat some mixed media reports on the crime rate at the Tabcorp owned casino. Sanctum, shot (pun intended) at Surfers Paradise - Gold Coast earlier this year, is understood to be in post-production down south in Melbourne (home to 'Underbelly' - real and TV) where the visual effects and the like are being meshed in. Director Alister Grierson says it will be a 'very exciting' event. "It won't be the fully finished version but what you will see will be in 3D. Universal pictures are really excited and pumped up to do the release and it's rare an Australian film gets this amount of positive review and anticipation before it's out. We're doing some pick-up shots and have built a mini set here for visual effects, so we're very close to finishing." He won't be present, nor will exec producer Cameron. "I flew over to LA and screened a version for Jim about a month ago and he really enjoyed that. He had some tips on how to improve it and a few nips and tucks." Sanctum is just one of the dozens of films that will be previewed over the 5 day convention, which commences with the Queensland premiere of Tomorrow When The War Began at Jupiters Hotel and Casino tomorrow night. Hollywooders Mark Wahlberg and Will Ferrell will walk the red carpet at Event Cinemas, Robina, this Wednesday night for the Australian premiere of The Other Guys. Great to see Jupiter's playing the Aussiewood - Hollywood card.
ANZPT - Australian New Zealand Poker Tour - Jupiters Hotel And Casino, Gold Coast - 14th August...
42 players are in the ANZPT on the Gold Coast for day 3. 32 players are going to at least break even. Mainly short stacks and a couple of big stacks. Hong Kong shark, er player, Nick Wong has the largest stack at time to press. Chip leading at 376,500. The top 5 players at this time are Nauv Kashyap, Darko Balaban, Liam O'Rourke and PokerStars branded Aaron Benton. Hello PartyPoker... pick up your game Tyron Krost and what's the story with your name Stewart Scott... you guys don't get paid the big bucks for nothing. You're only as good as your last game. Benton is on a roll winning at the season-ending APPT Grand Final in Sydney last December. Benton cashed at the ANZPT in Perth, before reaching the final table at the ANZPT Canberra for win of $12 grand. Journeyed to the WSOP and returned to get runner up spoils at ANZPT in Queenstown.
ANZPT - 12th August Update...
PartyPoker sponsored 2010 Aussie Millions Champ Tyron Krost joined the field Thursday, as did PokerStars Team Australia Professional Tony Hachem, ANZPT Canberra champ and high-stakes cash game pro Jason Gray and 2009 Aussie Millions $100k winner David Steicke. PokerStars Qualifier Darko Balaban finished at the top of the list of 63 survivors from the day. Go Aussies Go!
Pokie Rock N Roller With Rose Tatto; Some Angry, Some Not!...
Aristocrat Leisure has done a smart move to kill concerns that its pokie have been largely responsible for murdering the live music scene around Australia. The company has invented a new contraption that will allow pub rock bands and gambling machines to co-exist... get this...a pokie machine based on one of the country's iconic pub rock bands, the Angry Anderson-headed Rose Tattoo. "We are confident that our Rose Tattoo game will be a hit in pubs across Australia, said Aristocrat's MD for Australia, Trevor Croker, at the Australasian Gaming Expo in Darling Harbour, Sydney."The striking red and black colour scheme will make a statement on the gaming floor and patrons will enjoy the experience of playing along with some Rose Tattoo classics," he said. The Aristocrat website describes the game as "Reel Rock 'n' Roll''. "Rose Tattoo multi-game is guaranteed to rock your venue," the company claims. Next an 'Underbelly', 'Madame Lash', 'Mr Sin' or 'Kerry Packer' themed game? Stranger things have happened.
Australian Federal Election Betting Update...
Aussie betting markets moved firmly to Gillard's Labor by about 4.5% on the aggregate implied probability of victory, with all agencies moving in the same direction. Centrebet moved strongest with an 8.5% ALP boost while Sportingbet moved the least with a 3.5% boost to Labor. Betting odds and people putting their money where their mouth is has traditionally been more accurate to pick the winner than other types of political polling. You can still jab ahead Tony "The Bruiser" Abbott... go son...fight to the finish.
Tabcorp VIP Casino Upgrades...
Tabcorp’s casino expansion plans are not much exiting the market. One source said "deep dark money pit"! The press announcement brought a downgrade of the company’s rating and outlook. The Tabcorp plans to capture the Australasian VIP market, one that Crown Limited largely dominates. Ratings agency Standard & Poors (S&P) reduced the Australian-facing company’s A$1.99m debt outlook from “stable” to “negative” over concerns on the further A$285m investment in its Star City casino in Sydney announced as part of full year results last week. This came with the warning that Tabcorp’s capital expenditure plans could further risk its new rating as the company faces the possible loss of its Victorian wagering licence later this year. Gambling industry analyst Andrew Hills (Wilson HTM) said "The capital expenditure required to operate a competitive casino is oppressive and we question whether Tabcorp is throwing good money after bad. The New South Wales and Queensland casinos are attractive for the respective state governments but not for shareholders, in our view." Nathan Gee (Merrill Lynch) advised Tabcorp will either have to protect their new credit rating by an equity raising, or bite the bullet and incur higher debt costs from a further ratings downgrade, which he suggests may be the better option. Last week, Tabcorp chief Elmer Funke Kupper advised the aim of Star City was to create a destination for VIP’s and said the investment was a "no-brainer addition" to the company’s plans. In the full-year results, the Australian casino and gaming operator reported a 9.4% drop in its casino division’s EBITDA, however predicted that it would see an estimated A$130m-140m EBITDA uplift from its Star City investment by 2014. A concern for Tabcorp will be the expiration of its Victorian wagering licence, due to end in 2012. Aussie rival Tatts Group and the UK's Ladbrokes, no stranger to Media Man and Gambling911, have indicated their intentions to compete with Tabcorp for the next 12-year licence which will grant the winner a virtual monopoly on wagering and sports betting in that state of Victoria. Earlier this week the Victorian Government tabled legislation that would give valuable premium wagering tax concessions to the licence holder, but while analysts believe the license to be worth A$4bn, they also reckon renewing it could cost Tabcorp anywhere between A$300m and A$600m! "Tabcorp winning the Victorian wagering licence might put pressure on its S&P credit rating depending on the eventual price paid" said an insider. "Interestingly Tabcorp missing out on the Victoria wagering licence would ease the pressure around a credit rating downgrade or an equity raising," but over-paying for the licence may be better in the long haul than missing out full stop. Tabcorp has a war on its hands for the bid, as Australia’s Productivity Commission specifically recommended at the start of the year that it was against the renewal of wagering monopolies in New South Wales and Victoria. Tabcorp’s main investment program, the Star City Casino, is expected to now cost A$860m in addition to a A$100m payment to the New South Wales government for the pleasure, but Funke Kupper last week argued that the high price of investments would pay off by pulling in the big spending VIPs. That's his vision, but not that of the whole markets. The company reported that Star City’s 10% year-on-year EBITDA growth was offset by a 29% drop year-on-year in the company’s 3 "banana bender" Queensland casinos. Tabcorp is in negotiations with the government over increasing investment in its Queensland properties, where sliding trade is being caused by weak economic conditions in the region. A no-brainer? Readers, you be the judge.
NSW Government Keno Jackpot...
24 months after permitting Keno into hotels, the NSW state government has approved the installation into pubs and clubs of an expected 800 electronic Keno gambling machines which knockers say are a "gateway" to pokies. WSW will be #1 state to provide 'Touch Keno' after the government reviewed the results of a 3 month trial of 30 terminals at 15 venues including Star City Casino and Souths Juniors Rugby League Club. The devices are due to be installed in clubs from the coming month. Unlike the existing version, in which punters mark numbers with a pencil and paper and place bets at the bar, Touch Keno allows players to feed cold hard cash directly into the mouth of the machine, but payouts must still be collected from an human operator. Tabcorp, co-owner of the NSW Keno licence with ClubsNSW, is kindly offering to pay the cost of installing the machines if venues sign up for at least 24 months. Long enough to get the gambling bug. The government advised the terminals must be placed in a restricted area that cannot be accessed by minors". This may be a venue's lounge, bar area or gaming area. The government has recently introduced a $250 bet limit and said machines must carry information about gambling counselling and self-exclusion services. "The terminals were subject to a comprehensive trial to assess technology and harm minimisation issues," the Minister for Gaming and Racing, Kevin Greene, told press. There's no proposal to phase out the old form of Keno in favour of the new terminals. The "traditional" Keno game must be retained when a terminal is installed. The ClubsNSW chief executive, Anthony Ball, said the terminals would remove the need for punters to wait for a bartender to finish serving drinks before placing a bet. "This new technology means customers will instead be able to walk up to a screen and play Keno with, in most cases, no delay or waiting line. Self-service technology has existed at the TAB for a number of years and has proved very successful in reducing player waiting times." The anti-gambling campaigner, Senator Nick Xenophon aka "Mr X", advised the introduction of Touch Keno was worrying. "My concern is that Touch Keno will serve as a kind of gateway for casual gamblers to become poker machine gamblers. And as the Productivity Commission reported earlier this year, poker machines are far and away the biggest source of problem gambling." World Vision chief executive, Tim Costello, said he was concerned about the removal of an attendant from the betting process. "Human intervention is a natural restraint on access for problem gamblers." Last week, Tabcorp reported annual revenue of $157.2 million from its Keno operations in NSW, Queensland and Victoria. NSW down for $32 million, an annual increase of 5.4 per cent. Last month, the government said it would allow a Tabcorp-owned virtual racing game, Trackside, into pubs and clubs to pay for the refurbishment of Randwick Racecourse.
Both punters and insiders continue to enjoy the weekly Australian Casino Wars, largely dominated by Tabcorp and Crown Limited, but always watch out for an X Factor, be it PartyGaming, Ladbrokes, Genting or other.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on the Australian media, gaming, casino and political wars.
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Wrap Up...
Readers... er, punters, what's your view on online poker, online casinos, censorship, internet censorship and freedom of the press? Who will win the Aussie Casino Wars? Could you live without online poker? Do you enjoy adult content (that is legal)? Who are your betting on, and why? Make your voice heard. Tell us in the forum. The big wigs of Australian politics and business read and hang on every word at your beloved Gambling911. From Australia's answer to 'Casino Jack' to 'Outback Jack', they're all her folks. Keep checking daily for updates, Yes Minister, and have another cup of Full Strength Coffee (no caffeine or web filter thanks).
The Late News...
If your going to have a bet, please bet your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Global Gaming Directory
Australia is once again home to some of the world's most interesting and unique casino, gambling, poker and political news this week. Movie stars with 3D presentations at Aussie casinos, casino gang crime, Australian rock legend to release slot game to pubs, poker tours, political election betting, shake ups in Australian gaming and gambling landscape and more. Media Man and Gambling911 continue to bring you the best. The late, great Kerry Packer would love this edition, we're sure... proxy if need be... its worth it punters...
Crown Casino Chinatown Crime Figures Busted...
A Crown Casino VIP high roller and a Chinatown restaurateur personality are accused of heading up a Melbourne crime syndicate targeted by police over the past 48 hours in a series of explosive raids, arrests and record-breaking asset seizures. The alleged crime bosses of the multi-million dollar Melbourne drug ring that spent massive sums on property, gambling and overseas interests are set to appear in court after overnight out-of-sessions hearing. Crown Casino high roller Thi Nho Le and husband Thanh Hai Pham, both 46, spent the night in police cells with 6 other alleged members of the syndicate. Police allege it trafficked more than 30 kilograms of heroin in Melbourne and earned over $20 million in the past 9 months. Named and known as the Le Syndicate after the family that allegedly controls it, Ms Le's younger sister Thi Nho Em Le, her brother and their partners all faced a court hearing at St Kilda Road police complex early yesterday morning. Thi Nho Em Le's partner, businessman and restaurateur Kai Sin Mong, is also alleged to be a key player in the syndicate that police state has built a business empire including a Chinatown restaurant and a western-suburbs based petrol station. The group is accused of manufacturing and distributing large amounts of heroin, from locations including a flat in Napier Street, Fitzroy, laundering money and loaning money to other drug cartels and gamblers. Detective Acting Sergeant James Cole told the court that members did business at James Packers' Crown Casino's high-roller Mahogany Room, purchased a number of properties and businesses to conceal the proceeds of crime and sent money offshore to Vietnam, including a recent whopping $920,000 money transfer. This was allegedly used to create a multi-million dollar property portfolio, which may have been kicked along by plans to purchase a United States $2.5 million hotel. The mob aka triad were among 21 people arrested in a series of raids at properties in Melbourne's western and inner-northern suburbs, including Fitzroy commission flats, after a painstaking 10-month investigation.
Stay tuned to Gambling911 and Media Man for more details.
Jupiters Hotel and Casino: Avatar 3D Celebs Connection...
Film director James Cameron is backing up at the Australian International Movie Convention (AIMC) on the Gold Coast this season showing footage of his 3D underwater epic Sanctum. Cameron impressed delegates away when he showed exclusive footage from his blockbuster Avatar last year, now, 12 months later, he plans to wow the town again. Star of the Sanctum, Rhys Wakefield, and producer Andrew Wight, will attend the happening at Jupiters Hotel and Casino this Wednesday when Universal Studios will present the scenes. The media opp will help combat some mixed media reports on the crime rate at the Tabcorp owned casino. Sanctum, shot (pun intended) at Surfers Paradise - Gold Coast earlier this year, is understood to be in post-production down south in Melbourne (home to 'Underbelly' - real and TV) where the visual effects and the like are being meshed in. Director Alister Grierson says it will be a 'very exciting' event. "It won't be the fully finished version but what you will see will be in 3D. Universal pictures are really excited and pumped up to do the release and it's rare an Australian film gets this amount of positive review and anticipation before it's out. We're doing some pick-up shots and have built a mini set here for visual effects, so we're very close to finishing." He won't be present, nor will exec producer Cameron. "I flew over to LA and screened a version for Jim about a month ago and he really enjoyed that. He had some tips on how to improve it and a few nips and tucks." Sanctum is just one of the dozens of films that will be previewed over the 5 day convention, which commences with the Queensland premiere of Tomorrow When The War Began at Jupiters Hotel and Casino tomorrow night. Hollywooders Mark Wahlberg and Will Ferrell will walk the red carpet at Event Cinemas, Robina, this Wednesday night for the Australian premiere of The Other Guys. Great to see Jupiter's playing the Aussiewood - Hollywood card.
ANZPT - Australian New Zealand Poker Tour - Jupiters Hotel And Casino, Gold Coast - 14th August...
42 players are in the ANZPT on the Gold Coast for day 3. 32 players are going to at least break even. Mainly short stacks and a couple of big stacks. Hong Kong shark, er player, Nick Wong has the largest stack at time to press. Chip leading at 376,500. The top 5 players at this time are Nauv Kashyap, Darko Balaban, Liam O'Rourke and PokerStars branded Aaron Benton. Hello PartyPoker... pick up your game Tyron Krost and what's the story with your name Stewart Scott... you guys don't get paid the big bucks for nothing. You're only as good as your last game. Benton is on a roll winning at the season-ending APPT Grand Final in Sydney last December. Benton cashed at the ANZPT in Perth, before reaching the final table at the ANZPT Canberra for win of $12 grand. Journeyed to the WSOP and returned to get runner up spoils at ANZPT in Queenstown.
ANZPT - 12th August Update...
PartyPoker sponsored 2010 Aussie Millions Champ Tyron Krost joined the field Thursday, as did PokerStars Team Australia Professional Tony Hachem, ANZPT Canberra champ and high-stakes cash game pro Jason Gray and 2009 Aussie Millions $100k winner David Steicke. PokerStars Qualifier Darko Balaban finished at the top of the list of 63 survivors from the day. Go Aussies Go!
Pokie Rock N Roller With Rose Tatto; Some Angry, Some Not!...
Aristocrat Leisure has done a smart move to kill concerns that its pokie have been largely responsible for murdering the live music scene around Australia. The company has invented a new contraption that will allow pub rock bands and gambling machines to co-exist... get this...a pokie machine based on one of the country's iconic pub rock bands, the Angry Anderson-headed Rose Tattoo. "We are confident that our Rose Tattoo game will be a hit in pubs across Australia, said Aristocrat's MD for Australia, Trevor Croker, at the Australasian Gaming Expo in Darling Harbour, Sydney."The striking red and black colour scheme will make a statement on the gaming floor and patrons will enjoy the experience of playing along with some Rose Tattoo classics," he said. The Aristocrat website describes the game as "Reel Rock 'n' Roll''. "Rose Tattoo multi-game is guaranteed to rock your venue," the company claims. Next an 'Underbelly', 'Madame Lash', 'Mr Sin' or 'Kerry Packer' themed game? Stranger things have happened.
Australian Federal Election Betting Update...
Aussie betting markets moved firmly to Gillard's Labor by about 4.5% on the aggregate implied probability of victory, with all agencies moving in the same direction. Centrebet moved strongest with an 8.5% ALP boost while Sportingbet moved the least with a 3.5% boost to Labor. Betting odds and people putting their money where their mouth is has traditionally been more accurate to pick the winner than other types of political polling. You can still jab ahead Tony "The Bruiser" Abbott... go son...fight to the finish.
Tabcorp VIP Casino Upgrades...
Tabcorp’s casino expansion plans are not much exiting the market. One source said "deep dark money pit"! The press announcement brought a downgrade of the company’s rating and outlook. The Tabcorp plans to capture the Australasian VIP market, one that Crown Limited largely dominates. Ratings agency Standard & Poors (S&P) reduced the Australian-facing company’s A$1.99m debt outlook from “stable” to “negative” over concerns on the further A$285m investment in its Star City casino in Sydney announced as part of full year results last week. This came with the warning that Tabcorp’s capital expenditure plans could further risk its new rating as the company faces the possible loss of its Victorian wagering licence later this year. Gambling industry analyst Andrew Hills (Wilson HTM) said "The capital expenditure required to operate a competitive casino is oppressive and we question whether Tabcorp is throwing good money after bad. The New South Wales and Queensland casinos are attractive for the respective state governments but not for shareholders, in our view." Nathan Gee (Merrill Lynch) advised Tabcorp will either have to protect their new credit rating by an equity raising, or bite the bullet and incur higher debt costs from a further ratings downgrade, which he suggests may be the better option. Last week, Tabcorp chief Elmer Funke Kupper advised the aim of Star City was to create a destination for VIP’s and said the investment was a "no-brainer addition" to the company’s plans. In the full-year results, the Australian casino and gaming operator reported a 9.4% drop in its casino division’s EBITDA, however predicted that it would see an estimated A$130m-140m EBITDA uplift from its Star City investment by 2014. A concern for Tabcorp will be the expiration of its Victorian wagering licence, due to end in 2012. Aussie rival Tatts Group and the UK's Ladbrokes, no stranger to Media Man and Gambling911, have indicated their intentions to compete with Tabcorp for the next 12-year licence which will grant the winner a virtual monopoly on wagering and sports betting in that state of Victoria. Earlier this week the Victorian Government tabled legislation that would give valuable premium wagering tax concessions to the licence holder, but while analysts believe the license to be worth A$4bn, they also reckon renewing it could cost Tabcorp anywhere between A$300m and A$600m! "Tabcorp winning the Victorian wagering licence might put pressure on its S&P credit rating depending on the eventual price paid" said an insider. "Interestingly Tabcorp missing out on the Victoria wagering licence would ease the pressure around a credit rating downgrade or an equity raising," but over-paying for the licence may be better in the long haul than missing out full stop. Tabcorp has a war on its hands for the bid, as Australia’s Productivity Commission specifically recommended at the start of the year that it was against the renewal of wagering monopolies in New South Wales and Victoria. Tabcorp’s main investment program, the Star City Casino, is expected to now cost A$860m in addition to a A$100m payment to the New South Wales government for the pleasure, but Funke Kupper last week argued that the high price of investments would pay off by pulling in the big spending VIPs. That's his vision, but not that of the whole markets. The company reported that Star City’s 10% year-on-year EBITDA growth was offset by a 29% drop year-on-year in the company’s 3 "banana bender" Queensland casinos. Tabcorp is in negotiations with the government over increasing investment in its Queensland properties, where sliding trade is being caused by weak economic conditions in the region. A no-brainer? Readers, you be the judge.
NSW Government Keno Jackpot...
24 months after permitting Keno into hotels, the NSW state government has approved the installation into pubs and clubs of an expected 800 electronic Keno gambling machines which knockers say are a "gateway" to pokies. WSW will be #1 state to provide 'Touch Keno' after the government reviewed the results of a 3 month trial of 30 terminals at 15 venues including Star City Casino and Souths Juniors Rugby League Club. The devices are due to be installed in clubs from the coming month. Unlike the existing version, in which punters mark numbers with a pencil and paper and place bets at the bar, Touch Keno allows players to feed cold hard cash directly into the mouth of the machine, but payouts must still be collected from an human operator. Tabcorp, co-owner of the NSW Keno licence with ClubsNSW, is kindly offering to pay the cost of installing the machines if venues sign up for at least 24 months. Long enough to get the gambling bug. The government advised the terminals must be placed in a restricted area that cannot be accessed by minors". This may be a venue's lounge, bar area or gaming area. The government has recently introduced a $250 bet limit and said machines must carry information about gambling counselling and self-exclusion services. "The terminals were subject to a comprehensive trial to assess technology and harm minimisation issues," the Minister for Gaming and Racing, Kevin Greene, told press. There's no proposal to phase out the old form of Keno in favour of the new terminals. The "traditional" Keno game must be retained when a terminal is installed. The ClubsNSW chief executive, Anthony Ball, said the terminals would remove the need for punters to wait for a bartender to finish serving drinks before placing a bet. "This new technology means customers will instead be able to walk up to a screen and play Keno with, in most cases, no delay or waiting line. Self-service technology has existed at the TAB for a number of years and has proved very successful in reducing player waiting times." The anti-gambling campaigner, Senator Nick Xenophon aka "Mr X", advised the introduction of Touch Keno was worrying. "My concern is that Touch Keno will serve as a kind of gateway for casual gamblers to become poker machine gamblers. And as the Productivity Commission reported earlier this year, poker machines are far and away the biggest source of problem gambling." World Vision chief executive, Tim Costello, said he was concerned about the removal of an attendant from the betting process. "Human intervention is a natural restraint on access for problem gamblers." Last week, Tabcorp reported annual revenue of $157.2 million from its Keno operations in NSW, Queensland and Victoria. NSW down for $32 million, an annual increase of 5.4 per cent. Last month, the government said it would allow a Tabcorp-owned virtual racing game, Trackside, into pubs and clubs to pay for the refurbishment of Randwick Racecourse.
Both punters and insiders continue to enjoy the weekly Australian Casino Wars, largely dominated by Tabcorp and Crown Limited, but always watch out for an X Factor, be it PartyGaming, Ladbrokes, Genting or other.
Punters, er readers, stay glued to Media Man reports via Gambling911 for more "can't miss" information on the Australian media, gaming, casino and political wars.
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Wrap Up...
Readers... er, punters, what's your view on online poker, online casinos, censorship, internet censorship and freedom of the press? Who will win the Aussie Casino Wars? Could you live without online poker? Do you enjoy adult content (that is legal)? Who are your betting on, and why? Make your voice heard. Tell us in the forum. The big wigs of Australian politics and business read and hang on every word at your beloved Gambling911. From Australia's answer to 'Casino Jack' to 'Outback Jack', they're all her folks. Keep checking daily for updates, Yes Minister, and have another cup of Full Strength Coffee (no caffeine or web filter thanks).
The Late News...
If your going to have a bet, please bet your head, not over it, and for God's sake, have fun.
*Greg Tingle is a special contributor for Gambling911
*Media Man http://www.mediamanint.com is primarily a media, publicity and internet portal development company. They cover a dozen industry sectors including gaming and offer political commentary and analysis.
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Friday, August 13, 2010
PartyCasino News: PartyCasino Offers 10 Packages To Landmark Oktoberfest
PartyCasino Offers 10 Packages To Landmark Oktoberfest
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PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
Palladium Lounge
Palladium Slot
PartyBingo.com Gamebookers.com PartyGammon.com PartyBets.com
6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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News
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PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
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6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Wednesday, August 11, 2010
PartyCasino News: There's No Business Like Snow Business
PartyCasino News: There's No Business Like Snow Business
New Slot Offering Industry's Largest Progressive Seeded Jackpot
Gibraltar - 11th August 2010 – PartyCasino.com, the world’s largest online casino, is pleased to announce the arrival of new polar themed jackpot slot ‘Snow Business’. At the start of 2010, PartyCasino.com launched the largest progressive seeded jackpot in the online gaming industry in the form of ‘The Big One’ and brought in classic slot Melon Madness as the slot to crack it. Now Snow Business has joined Melon Madness in offering access to ‘The Big One!’
The Big One is structured as a five tiered pool. The highest tier - Colossal Cash - seeds at $1.5 million, the biggest online jackpot seed in the industry and currently stands at over $2.1 million. Snow Business is a five-reel, 30 line jackpot slot game with a Free Spins feature. When three or more scattered iceberg symbols appear anywhere in view, the feature screen is displayed where the player is required to catch a random number of fish, each of which reveals a random number of free spins or a random free spins multiplier.
A PartyCasino.com spokesman said: "One great feature is Snow Business' super-cool expanding wilds. Love wild slot features but hate hitting them in the wrong place? Just hit the wild symbol and watch as it casts a frosty spell over its neighbours. The wild could expand up, down, left, right or even in all directions across the reels, triggering paylines and landing you more coins. Crack three iceberg symbols and progress to Snow Business's bonus round. hook the fish that bob through the ice to net free spins and rewarding multipliers."
For more information see PartyCasino.com
PartyCasino.com has the most frequent game launches and largest jackpots in the industry and offers over 150 games, including over 100 slots. PartyCasino.com pays out easily over $10 million EVERY DAY to players. This year marks the 200th Oktoberfest in Germany and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package. Please note these packages are for the weekend of the 1st – 3rd October. See: PartyCasino.com for more information.
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New Slot Offering Industry's Largest Progressive Seeded Jackpot
Gibraltar - 11th August 2010 – PartyCasino.com, the world’s largest online casino, is pleased to announce the arrival of new polar themed jackpot slot ‘Snow Business’. At the start of 2010, PartyCasino.com launched the largest progressive seeded jackpot in the online gaming industry in the form of ‘The Big One’ and brought in classic slot Melon Madness as the slot to crack it. Now Snow Business has joined Melon Madness in offering access to ‘The Big One!’
The Big One is structured as a five tiered pool. The highest tier - Colossal Cash - seeds at $1.5 million, the biggest online jackpot seed in the industry and currently stands at over $2.1 million. Snow Business is a five-reel, 30 line jackpot slot game with a Free Spins feature. When three or more scattered iceberg symbols appear anywhere in view, the feature screen is displayed where the player is required to catch a random number of fish, each of which reveals a random number of free spins or a random free spins multiplier.
A PartyCasino.com spokesman said: "One great feature is Snow Business' super-cool expanding wilds. Love wild slot features but hate hitting them in the wrong place? Just hit the wild symbol and watch as it casts a frosty spell over its neighbours. The wild could expand up, down, left, right or even in all directions across the reels, triggering paylines and landing you more coins. Crack three iceberg symbols and progress to Snow Business's bonus round. hook the fish that bob through the ice to net free spins and rewarding multipliers."
For more information see PartyCasino.com
PartyCasino.com has the most frequent game launches and largest jackpots in the industry and offers over 150 games, including over 100 slots. PartyCasino.com pays out easily over $10 million EVERY DAY to players. This year marks the 200th Oktoberfest in Germany and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package. Please note these packages are for the weekend of the 1st – 3rd October. See: PartyCasino.com for more information.
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Sunday, August 08, 2010
Friday, August 06, 2010
PartyCasino Offers 10 Packages To Landmark Oktoberfest
PartyCasino Offers 10 Packages To Landmark Oktoberfest
Profiles
PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
Palladium Lounge
Palladium Slot
PartyBingo.com Gamebookers.com PartyGammon.com PartyBets.com
6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
Websites
PartyCasino.com
PartyPoker.com
News
PartyGaming News
PartyCasino.com News
PartyPoker.com News
Profiles
PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
Palladium Lounge
Palladium Slot
PartyBingo.com Gamebookers.com PartyGammon.com PartyBets.com
Website Network
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Profiles
PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
Palladium Lounge
Palladium Slot
PartyBingo.com Gamebookers.com PartyGammon.com PartyBets.com
6th August 2010 – This year marks the 200th Oktoberfest and what promises to be the biggest, best and most memorable edition of one of the world’s biggest parties ever! Palladium VIP’s on PartyCasino.com can secure their place there very simply: be one of the first 10 players to collect 10,000 PartyPoints by playing slots and jackpot slots between 16th and 31st August and they will win a package.
A PartyCasino.com spokesman said: “Once all 10 packages have been claimed the promotion is over, so it is first come first served! The Palladium VIP hospitality at Oktoberfest is already legendary and with the big beer party celebrating its 200th birthday this year promises to be even bigger. PartyCasino.com has the most frequent game launches and largest jackpots in the industry so customers are spoiled for choice for games through which to earn the points needed to secure the trip to Germany’s biggest party.”
The package is from 24th – 26th September and includes:
·Two night’s accommodation, with breakfast, at a five-star hotel in Munich for the winner and a guest.
·Dinner with an open bar followed by a poker tournament in the Davidoff Lounge at the Allianz Arena.
·Activity or Spa treatment.
·Two passes to the Oktoberfest on Saturday night.
·Entry to a VIP party at Pacha nightclub.
·Exclusive VIP hospitality provided by Palladium VIP’s expert events team, on hand and available to you throughout your trip.
Please note that customers have to opt-in to this promotion.
PartyPoker.com also has 35 Oktoberfest prize packages available through a promotion that is running now until the 29th August. See: PartyPoker.com
Palladium VIP’s had a memorable trip to the Oktoberfest last year. See: Palladium Lounge
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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PartyGaming News: Half year report for the six months ended 30 June 2010
PartyGaming News: Half year report for the six months ended 30 June 2010
Profiles
PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
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Total revenue up 30% to €181.2m (2009: €139.9m) driven by acquisitions and strong growth in casino and sports betting
Continuing Clean EBITDA* up 14% to €48.1m (2009: €42.3m)
Continuing Basic Clean EPS* of 6.0 € cents (2009: 6.7 € cents); Total Basic Clean EPS of 6.0 € cents (2009: 6.6 € cents)
Transformational Proposed Merger with bwin expected to complete in first quarter 2011
Solid progress in newly regulated markets (France and Italy); Denmark is on-track to open early in 2011
Net cashflow from Continuing operations up 65% to €55.3m (2009: €33.5m) with net cash at 30 June 2010 of €146.8m (2009: €166.7m)
* EBITDA/EPS before the provision for costs associated with the Group’s Non-Prosecution Agreement, reorganisation costs, and before non-cash charges relating to share-based payments (see reconciliation of Clean EBITDA to operating profit (loss) below).
# Operations located physically outside of the US but which relate to US customers that were no longer accepted following the enactment of the UIGEA.
Commenting on today’s results announcement, Jim Ryan, PartyGaming Chief Executive Officer, said:
“We delivered another robust financial performance in the first half and also made great progress in executing our strategy. While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly. Total revenue was up 30% and Clean EBITDA from Continuing Operations was up 14% versus the prior year. As previously announced, Clean EBITDA margins in the first half were slightly lower than expected due to the delayed launch of cash game poker in Italy but we retain our previous full year guidance of approximately 28%, subject to the returns achieved on planned marketing spend in both France and Italy where we are continuing to expand the share of our respective poker networks.
‘‘Our proposed merger with bwin is a transformational opportunity for the Group and we expect that it will provide significant strategic, operational and financial benefits for the shareholders of both companies. Whilst there is much work to do ahead of completion in early 2011, we are excited about the prospects for what will then be the clear market leader in online gaming with strong positions in all key product verticals and territories.”
On current trading and outlook Jim Ryan added:
“Since 30 June 2010, the Group has continued to perform in-line with the Board’s expectations. Seizing a strong position in newly regulated markets is a key focus for us. Our strategy of combining a strong B2C franchise with significant local brands is already proving to be a powerful force as evidenced by our network’s position in French poker. As other markets follow Italy and France, we expect that a limited number of large networks and brands will emerge to become market leaders – we are determined that together PartyGaming/bwin will be one of them. This natural consolidation of the marketplace will accelerate through corporate mergers and acquisitions and as one of the largest players in the sector we remain committed to continue playing an active role. Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Group’s prospects for the rest of the year and beyond.”
Contacts:
PartyGaming Plc +44 (0) 207 337 0100
Peter Reynolds, Director of Corporate Affairs
John Shepherd, Director of Corporate Communications
Interview with Jim Ryan and Martin Weigold
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will be available from 7.00am BST on 6 August 2010 on: http://www.partygaming.com and on http://www.cantos.com.
Analyst meeting, webcast, dial-in and conference call details: 6 August 2010
There will be an analyst meeting for invited UK-based analysts at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT starting at 9.30am BST. There will be a simultaneous webcast and dial-in broadcast of the meeting. To register for the live webcast, please pre-register for access by visiting the Group website (www.partygaming.com). Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
Title PartyGaming Interim Results
9.30 am Meeting starts
A recording of the meeting will be available for a period of seven days from 6 August 2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 9050397#
About PartyGaming Plc
The Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year ended 31 December 2009, PartyGaming’s Continuing operations generated revenue of €310.1m and Clean EBITDA of €93.8m.
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
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Website Network
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Profiles
PartyGaming PartyCasino.com PartyPoker.com World Poker Tour WPT Casino WPT Poker
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Total revenue up 30% to €181.2m (2009: €139.9m) driven by acquisitions and strong growth in casino and sports betting
Continuing Clean EBITDA* up 14% to €48.1m (2009: €42.3m)
Continuing Basic Clean EPS* of 6.0 € cents (2009: 6.7 € cents); Total Basic Clean EPS of 6.0 € cents (2009: 6.6 € cents)
Transformational Proposed Merger with bwin expected to complete in first quarter 2011
Solid progress in newly regulated markets (France and Italy); Denmark is on-track to open early in 2011
Net cashflow from Continuing operations up 65% to €55.3m (2009: €33.5m) with net cash at 30 June 2010 of €146.8m (2009: €166.7m)
* EBITDA/EPS before the provision for costs associated with the Group’s Non-Prosecution Agreement, reorganisation costs, and before non-cash charges relating to share-based payments (see reconciliation of Clean EBITDA to operating profit (loss) below).
# Operations located physically outside of the US but which relate to US customers that were no longer accepted following the enactment of the UIGEA.
Commenting on today’s results announcement, Jim Ryan, PartyGaming Chief Executive Officer, said:
“We delivered another robust financial performance in the first half and also made great progress in executing our strategy. While poker was impacted by the football World Cup and remained difficult from a competitive perspective, our other verticals continued to perform strongly. Total revenue was up 30% and Clean EBITDA from Continuing Operations was up 14% versus the prior year. As previously announced, Clean EBITDA margins in the first half were slightly lower than expected due to the delayed launch of cash game poker in Italy but we retain our previous full year guidance of approximately 28%, subject to the returns achieved on planned marketing spend in both France and Italy where we are continuing to expand the share of our respective poker networks.
‘‘Our proposed merger with bwin is a transformational opportunity for the Group and we expect that it will provide significant strategic, operational and financial benefits for the shareholders of both companies. Whilst there is much work to do ahead of completion in early 2011, we are excited about the prospects for what will then be the clear market leader in online gaming with strong positions in all key product verticals and territories.”
On current trading and outlook Jim Ryan added:
“Since 30 June 2010, the Group has continued to perform in-line with the Board’s expectations. Seizing a strong position in newly regulated markets is a key focus for us. Our strategy of combining a strong B2C franchise with significant local brands is already proving to be a powerful force as evidenced by our network’s position in French poker. As other markets follow Italy and France, we expect that a limited number of large networks and brands will emerge to become market leaders – we are determined that together PartyGaming/bwin will be one of them. This natural consolidation of the marketplace will accelerate through corporate mergers and acquisitions and as one of the largest players in the sector we remain committed to continue playing an active role. Whilst the macroeconomic and competitive environments remain challenging, we remain confident about the Group’s prospects for the rest of the year and beyond.”
Contacts:
PartyGaming Plc +44 (0) 207 337 0100
Peter Reynolds, Director of Corporate Affairs
John Shepherd, Director of Corporate Communications
Interview with Jim Ryan and Martin Weigold
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will be available from 7.00am BST on 6 August 2010 on: http://www.partygaming.com and on http://www.cantos.com.
Analyst meeting, webcast, dial-in and conference call details: 6 August 2010
There will be an analyst meeting for invited UK-based analysts at Numis Securities, The London Stock Exchange Building, 10 Paternoster Square, London, EC4M 7LT starting at 9.30am BST. There will be a simultaneous webcast and dial-in broadcast of the meeting. To register for the live webcast, please pre-register for access by visiting the Group website (www.partygaming.com). Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later today.
Dial-in details to listen to the analyst presentation: 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
Title PartyGaming Interim Results
9.30 am Meeting starts
A recording of the meeting will be available for a period of seven days from 6 August 2010. To access the recording please dial the following replay telephone number:
Replay telephone number +44 (0) 208 196 1988
Replay passcode: 9050397#
About PartyGaming Plc
The Group is a constituent of the FTSE 250 share index with its shares listed on The London Stock Exchange under the ticker: PRTY. In the year ended 31 December 2009, PartyGaming’s Continuing operations generated revenue of €310.1m and Clean EBITDA of €93.8m.
PartyGaming is regulated and licensed by the Governments of Gibraltar, Italy and France and by the Alderney Gambling Control Commission. The Group is also certified as a responsible gaming operator by GamCare, the leading UK authority on the provision of advice, practical help, support and counselling in addressing the social impact of gambling. PartyGaming’s shares are also a constituent member of the FTSE4Good Index Series, which enables investors to identify companies that meet globally recognised corporate responsibility standards.
News
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PartyPoker.com News
Profiles
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Wednesday, August 04, 2010
PartyGaming to Report 2010 Half Year Results Friday
PartyGaming is all the rage these days with anticipation that the U.S. market could ultimately open up and with the announcement of its merger with Austria’s Bwin to create the world’s largest online gambling enterprise.
On Friday August 6 at 9:20 am London time, the company will announce its results for the first 6 months of 2010.
The Group will host a meeting for invited UK-based analysts on the day of the results and there will be a simultaneous webcast and dial-in broadcast of the meeting.
To register for the live webcast, please pre-register for access by visiting the Group’s website www.partygaming.com. Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later on the day.
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will also be available from 7.00am BST on Friday 6 August at: http://www.partygaming.com and at http://www.cantos.com
Dial-in details to listen to the analyst presentation: Friday 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
9.30 am Meeting starts
(Credit: Gambling911)
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On Friday August 6 at 9:20 am London time, the company will announce its results for the first 6 months of 2010.
The Group will host a meeting for invited UK-based analysts on the day of the results and there will be a simultaneous webcast and dial-in broadcast of the meeting.
To register for the live webcast, please pre-register for access by visiting the Group’s website www.partygaming.com. Details for the dial-in facility are given below. A copy of the webcast and slide presentation given at the meeting will be available on the Group’s website later on the day.
An interview with Jim Ryan, Chief Executive Officer, and Martin Weigold, Group Finance Director, in video/audio and text will also be available from 7.00am BST on Friday 6 August at: http://www.partygaming.com and at http://www.cantos.com
Dial-in details to listen to the analyst presentation: Friday 6 August 2010
9.20 am Please call +44 (0) 20 3003 2666
9.30 am Meeting starts
(Credit: Gambling911)
Media Man Profiles
PartyCasino.com
PartyPoker.com
World Poker Tour
bwin
PartyGaming
Sunday, August 01, 2010
Hugh Hefner planning London casino - 31st July 2010
Playboy founder Hugh Hefner wants to expand his business empire further and open casinos in London, England, and Macao, China.
Hugh Hefner wants to open a casino in London.
The 84-year-old Playboy founder wants to further expand his business empire as he is planning to move away from "adult programming" because he doesn't feel it is the right direction to go in anymore.
He said: "We will be announcing casinos in both Macao, China, and London. As far as media goes, I think we'll be involved in more mainstream ventures.
"We already have spin-offs of 'The Girls Next Door' on the E! Channel with both Holly Madison and Kendra Wilkinson, as well as a pilot with Bridget Marquardt on A&E. We're going to be doing more of that.
"That's the direction we're moving in; we're moving away from the adult programming because it's not the future. I think it gets in the way of who we are, and who we want to be."
The media mogul believes that as time goes by, his other ventures will become more famous and even more successful than the iconic men's magazine he founded.
He explained in an interview with website The Daily Beast: "Frankly, early on, as a single title company, the strength of the brand led us into other directions. The first Playboy products - cuff links, T-shirts, and things of that kind - began in the late '50s and the first Playboy club opened in 1960.
"In their early years, the Playboy clubs were so hugely popular that the company's ability as a 'branding' vehicle became obvious.
"In the early years the magazine carried the brand while I think that, in the future, the brand will increasingly help to carry the magazine."
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Hugh Hefner wants to open a casino in London.
The 84-year-old Playboy founder wants to further expand his business empire as he is planning to move away from "adult programming" because he doesn't feel it is the right direction to go in anymore.
He said: "We will be announcing casinos in both Macao, China, and London. As far as media goes, I think we'll be involved in more mainstream ventures.
"We already have spin-offs of 'The Girls Next Door' on the E! Channel with both Holly Madison and Kendra Wilkinson, as well as a pilot with Bridget Marquardt on A&E. We're going to be doing more of that.
"That's the direction we're moving in; we're moving away from the adult programming because it's not the future. I think it gets in the way of who we are, and who we want to be."
The media mogul believes that as time goes by, his other ventures will become more famous and even more successful than the iconic men's magazine he founded.
He explained in an interview with website The Daily Beast: "Frankly, early on, as a single title company, the strength of the brand led us into other directions. The first Playboy products - cuff links, T-shirts, and things of that kind - began in the late '50s and the first Playboy club opened in 1960.
"In their early years, the Playboy clubs were so hugely popular that the company's ability as a 'branding' vehicle became obvious.
"In the early years the magazine carried the brand while I think that, in the future, the brand will increasingly help to carry the magazine."
Media Man Profiles
Playboy
Hugh Hefner
Hotels
Resorts
Casinos
Casino
Casino Reviews
Global Gaming Directory
World Casino Directory
Brands
Media Companies
Media Man
Website Network
Media Man International
Media Man
Media Man Australia
Media Man Asia
Media Man Canada
Media Man Brand
Media Man Poker
Media Man Casino
Media Man Games
Media Man Network
Property News Media
Casino News Media
Global Gaming Directory
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