Melco Crown Entertainment Stock Finishes Week On A High
Melco Crown Entertainment For the most part it was an uneventful week for gaming stocks on the US market, but a couple of companies finished the week strongly. Melco Crown Entertainment and Century Casinos both ended on high notes going into the weekend.Melco Crown stock has developed a reputation of going against the trend for gaming stocks. On Friday, however, Melco led the way on a day where increases were seen almost across the board.The stock closed on Friday at $4.04. That represented an increase of 4.66%. Century stock also rose over four percent, closing at $2.50 a share. The two companies combined stock rose $.23 for the day.Las Vegas Sands had itself a strong day as well, rising 2.65%. (Read the full post about ‘Melco Crown Entertainment Stock Finishes Week On A High’…)
Online gambling division among the under performers at Rank Group
Full year 2009 results from the Rank Group showed small improvements, although the online gambling division was one of those that under performed last year. Nevertheless, investors will be pleased to hear that a small dividend is in prospect after some tough times with the UK gambling group.
2009 revenues totalled £540 million, up 3.4% year-on-year (2008 FY £522.2 million), generating an EBITDA of £58 million, or 4% lower than the corresponding period in 2008.
The small improvement was mainly due to the performance of the Grosvenor land casino brand, where operating profit rose 19% to £30.9 million.
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Loto-Quebec contests claims that online gambling leads to increase in problem gamblers
Loto-Quebec has strongly defended its intention to join other Canadian provinces in entering the online gambling sector following complaints from public health authorities that such a move would lead to an increase in problem gamblers.
Regional public health officials had earlier claimed that research elsewhere indicated that there could be problems, and called for a 12 month moratorium on the Internet project until:
- Independent research had reported on the problem gambling dangers
- The formation of a National Assembly and Parliament Committee social ethics sub-committee.
Sportsbook .com Moves to Merge: 6 Times Growth Expected
The Merge Poker Network just received a serious injection to help in its aggressive growth plans. Sportsbook.com, a long time sponsor of the Gambling911.com website, will switch from the Cake Network to Merge, as will all its affiliated brands including Players Only. Liquidity will grow four-fold as a result of the deal, Merge CEO Anthony Taylor told eGaming Review.com, with further growth via new clients attracted to the network by its increased liquidity. Anthony also stated that he anticipates 6 times the current growth in 2010. Merge has been hanging around the lower 20 tier of online poker rooms while Cake has been the 10th largest. &qu (Read the full post about ‘Sportsbook .com Moves to Merge: 6 Times Growth Expected’…)
Good Job Poker Nordica: CEO Responds to Complaint
Gambling911.com readers might recall we had one online poker operator recently threaten a lawsuit against us after we criticized his company’s new policies regarding its showing certain "winning" players the door. Others, like Aced.com, elect to ignore complaints against them or have some lackey respond offering up lame excuses. With that said it is truly refreshing to see the CEO of Poker Nordica respond to a player complaint (that was resolved rather quickly after our initial report) without making the usual excuses. (Read the full post about ‘Good Job Poker Nordica: CEO Responds to Complaint’…)
Bwin drops sponsorship of AC Milan, Emirates airline to take over
According to the Forbes magazine sportsmoney blog, online gambling group Bwin's shirt sponsorship of the top Italian Serie-A football team AC Milan has been relinquished and re-issued to the Arabian airline Emirates.
The blog informs that reports from Italy disclose that AC Milan has agreed a four-year €50 million ($70 million) shirt sponsorship with Emirates, effective when Milan’s current deal with Bwin expires at the end of the current season.
Bwin’s deal was worth €12 million a year and when it was signed four years ago was the the fifth largest shirt sponsorship in European soccer.
Bwin’s sponsorship of Spain’s Real Madrid ranked third with U.S.
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Shane Mosley a Huge Underdog in Mayweather Bout
Considering he opened as a near even underdog, Shane Mosley has lost tremendous value in recent weeks in his upcoming bout with Floyd Mayweather, Jr. Mosley would pay out $260 for every $100 bet at SBG Global. Mayweather, Jr. is a big -350 favorite. "This is not going to be personal for me, this is going to be fun for me," Mosley said Tuesday over lunch at the Hard Rock Cafe. "This is like when I fought Oscar (De La Hoya) the first time. People told me, ‘Oh, you’re going to be afraid. Are you scared?’ No, no, this is what I want. "It’s not going to be personal, I’m not going to be upset," Mosley said. "I’m going to have fun. (Read the full post about ‘Shane Mosley a Huge Underdog in Mayweather Bout’…)
Mayweather – Pacquiao Fight Odds Still Being Offered
Don’t tell the online bookmakers there won’t be a Floyd Mayweather, Jr. vs. Manny Pacquiao showdown before the year is over. Mayweather – Pacquiao fight odds were still being offered by the folks at Sportsbetting.com with Mayweather as the -130 favorite and Pacquiao paying even odds. The one stipulation is that the fight must take place in 2010 in order for there to be action on the bet. Funds are returned otherwise. Pacquiao reportedly agreed to fight Mayweather on March 13, 2010, for a split of 50 million dollars up front. And it was later agreed that the venue for the fight would be the MGM Grand Las Vegas. However, the bout was put in jeopardy due to disagreements about Olympic-style drug testing. T (Read the full post about ‘Mayweather – Pacquiao Fight Odds Still Being Offered’…)
2010 Borgata Winter Poker Open Winner Jeff Madsen
Jeff Madsen has won the 2010 Borgata Winter Poker Open and the well over half a million prize. 35-year old Madsen comes to us via Las Vegas. He owns 2 World Series of Poker bracelets and has won $2.5 million in live poker tournaments to date. From Poker News: Friday was finally final table day at the Borgata Winter Poker Open in Atlantic City with the first prize of $625,006 set before the last ten players. The fight card projected a good battle with Sirous Jamshidi, Jeff Madsen, Dave Fox, and Tom "KINGSOFCARDS" Marchese among the finalists; the action on the felt did not disappoint. Just before dinner time, it was Madsen who found himself sitting alone at the table with every chip in play, claiming the title and the hefty cash prize. A (Read the full post about ’2010 Borgata Winter Poker Open Winner Jeff Madsen’…)
Monarch Casino & Resort Stock Rallies As Trading Week Ends
Monarch Casino & Resort After two sub par days on the stock market, US-based gaming stocks finally rallied to close out the week. Monarch Casino & Resort led the way with an increase of 4.61% and a closing price of $6.81.Monarch had their stock price up over $7 a share on Wednesday, but by the end of that trading day it had dropped to $6.97. Thursday Monarch stock fell to $6.51 a share before rebounding to end the week.Melco Crown Entertainment had been one of the gaming stocks that dropped badly this week, but was up 2.92% on Friday. Melco stock finished at $3.52. The stock still has not recovered from the market crash early last year.Century Casinos and Las Vegas Sands stocks both increased over two percent at the close of the week. (Read the full post about ‘Monarch Casino & Resort Stock Rallies As Trading Week Ends’…)
