Aussie gambling gossip from the Media Man - 8th August 2009
What a week its been. Australian self confessed pathological gambler, Harry Kakavas "unlucky" streak continues. If anyone could vouch its a casino economy, it would be him. Thus far unsuccessful in his bit to sue Melbourne's Crown Casino. Kakavas company based on the Gold Coast has been giving the corporate doctor. Challenger Managed Investments have appointed John Park and Mark Korda of KordaMentha as receiver managers. Incidental, Part is also looking after the matters for former gaming and IT whiz kid cum tsar, Daniel Tzvetkoff. Yes folks, the higher they climb, the further they fall, especially in the casino circles if these latest turn of events are anything to judge by. In the meantime north of Australia's Gold Coast, up Las Vegas and Atlantic City way Donald Trump is looking to rescue, and no doubt, resurrect, his Trump Casino empire. Trump's peers such as Steve Wynn are said to not want a bar of igaming involvement (bit of a threat to the bricks and mortar Stevo?), while Harrah's Entertainment boss (formally PartyGaming chief), Mitch Garber, is very confident and excited about rolling out at least some of what he knows works for his Harrah's hotel-casino-resort chain. We here at Media Man like this Mitch fella. Sound like he might be open to some b2b and World Casino Directory and multi currency casino listing proposals. Rumours are circulating that some of the Vegas top brass has been observing one Aussie companies b2b dealings with James Packer's long time UK connection - Aspers, including Aspers online ventures. Aspers Damian Aspinall, is finding it impossible to live down his series of high profile dates with Australia's "Body" Elle MacPherson. Speaking of rumoured power couples, or at least, "power pairings" (not to implicate the potentially innocent.. doubt it), Bodog founder Calvin Ayre has been spotted with igaming pr and communications queen, Rebecca Liggero. Ms Liggero is said to have some positive and spicy history with Ayre, and last week our miss was officially placed in a role to help along the Bodog empire rebuild, or global expansion, depending of the sources you care to believe. PartyGaming remains in the party hard - happy days mode at the moment with their CEO Jim Ryan reporting that their PartyCasino.com and PartyPoker.com brands are performing well, and that their recent purchase of Cashcade (including the famed Foxy Bingo) are on track. Party keep teasing rising poker and casino babe, Paris Hilton with public press releases, however our precious Paris is yet to sign the bottom line. Maybe she's waiting on Sexy Poker (banned in Australia) to call. Not to be outdone, Nicki Hilton has been hanging out considerable with our main man, WSOP legend, Doyle Brunson. Hilton's said to have injected some new life into "the father of poker". The Bondi Beach igaming crew are wondering when Holly Branson, daughter of business tycoon, Sir Richard Branson, will one again grace their shows. Sir Richard who also heads up Virgin Games might take a liking to Berg's Gaming on location at the Bondi Icebergs, said to be previous visited by the power pairing, and Paris Hilton of course! Whatever the case, its sure been a hot and eventful few weeks in the casino sector, from court cases, to buyouts, casino babes, not to mention the new poker bill happenings in Washington. CAP, PAP and PPA took no time to publish their spin on things and subsequent press releases, and these developments are strongly rumoured to be on the radar of Australia's Parliament House, including the office of gaming and racing (who have plenty of their own in house problems to contend with). Stay tuned to Gambling911.com for the latest and hottest news from the gambling world, as we scour the universe for the news you need to know.
Gambling man in more strife, by Shannon Willoughby - The Gold Coast Bullentin - 8th August 2009
The man who is suing Melbourne's Crown Casino for $30 million is facing his own financial setback on the Gold Coast.
A company directed by self-confessed pathological gambler Harry Kakavas has moved into the hands of the corporate doctor after it failed to meet its financial commitments.
Elite Property Investments Group Pty Ltd, which owns and runs a commercial property in Broadbeach, is understood to owe its mortgagee millions.
The appointment comes as Mr Kakavas awaits a judge's decision over a legal stoush involving him and Melbourne's Crown Casino.
Mr Kakavas is suing Crown for $30 million plus damages over claims it lured him to the tables, despite knowing he was a banned gambler.
Elite Property Investment's mortgagee, Challenger Managed Investments, appointed John Park and Mark Korda of KordaMentha as receiver managers.
Mr Park said the debt remained confidential but The Bulletin understands it is in the millions.
Mr Kakavas's company paid $9.35 million for the mid-rise on Queensland Avenue in 2005.
Mr Park, who is also the liquidator for a company controlled by embattled IT tycoon Daniel Tzvetkoff, said there was a possibility they could sell the property.
"We are assessing the tenancy mix at the moment and looking at the best strategy for realisation of the property," he said. "We are assessing the quality of the product (before we decide if its going to go to the market)."
The former king of Hedges Avenue -- a name Mr Kakavas was crowned after his prolific buying and selling along 'millionaires row' -- declined to comment.
The judgment over his court case is expected to be handed down within months, with final submissions being heard on August 17.
Mr Kakavas alleges the casino giant seduced him on to the tables knowing he was a self-confessed problem gambler. He is alleging negligence, unconscionable conduct and breaches of the Casino Control Act by Crown Casino.
He claims he banned himself from the casino but said he was lured back with VIP treatment.
The former property developer claims to have turned over more than $1.4 billion during a 14-month gambling binge across Australia from June 2005.
He is also suing the casino's chief operating officer John Williams. Mr Kakavas claims Mr Williams lured him back with VIP treatment.
Mr Kakavas also alleges he was flown about 30 times on Crown's VIP jet in 2007, was regularly handed bags and boxes of cash and given a promise of a 20 per cent rebate on all losses.
Crown Casino boss Rowen Craigie, who also owns property in Hedges Avenue, is also being sued.
Mr Craigie had his Hedges Avenue mansion on the market but it has since been withdrawn. (Credit: News Limited)
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Friday, August 07, 2009
PartyPoker's Satellite Series Announced
We've teamed up with the world's best poker rooms to bring you some unbelievable satellites to the PokerNews Cup Australia. Packages will contain some great offerings including Main Event Entry, cash for travel, luxurious accommodation at the fabulous host venue hotel, cash for travel, party invites and exclusive excursions.
Stay tuned to Media Man Australia as we continue to bring you more rooms to qualify on!
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PartyPoker.com is yet another room to bring you an incredible Satellite Series to the 2009 PokerNews Cup Australia. The series awards two different types of packages - $3,500 and $5,000. Qualify through daily sub satellites starting from as low as $2. Alternatively, you can buy-in direct to the Super Satellite for $380 (1 in 10 players win a $3,500 package) or $535 (1 in 10 players win a $5,000 package) running on Sundays.
The $5,000 package includes:
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The $3,500 package includes:
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We've teamed up with the world's best poker rooms to bring you some unbelievable satellites to the PokerNews Cup Australia. Packages will contain some great offerings including Main Event Entry, cash for travel, luxurious accommodation at the fabulous host venue hotel, cash for travel, party invites and exclusive excursions.
Stay tuned to Media Man Australia as we continue to bring you more rooms to qualify on!
PartyPoker
PartyPoker.com is yet another room to bring you an incredible Satellite Series to the 2009 PokerNews Cup Australia. The series awards two different types of packages - $3,500 and $5,000. Qualify through daily sub satellites starting from as low as $2. Alternatively, you can buy-in direct to the Super Satellite for $380 (1 in 10 players win a $3,500 package) or $535 (1 in 10 players win a $5,000 package) running on Sundays.
The $5,000 package includes:
Entry to the Main Event
Accommodation at the host venue hotel
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The $3,500 package includes:
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Playtech’s Gross Income Grows by 23% in Second Quarter of 2009, by Tom Jenkins - Poker News Daily - 31st July 2009
In recent news released by Playtech, which operates the popular iPoker Network, it was revealed that the company’s Gross Income for the second quarter of 2009 rose by 23.3% year over year to €33.1 million. That figure was slightly below the €33.8 million recorded during the first quarter of 2009.
For the first half of the 2009 calendar year, Playtech recorded Gross Income of €66.9 million, up 29.8% from the €51.6 million recorded during the first half of 2008. A statement released by the company explains, “The Board is confident the Company will deliver strong growth for the full year to December 2009 compared to 2008. However, owing to the slower than anticipated start to WHO and the general challenging economic environment impacting some of our licensees, the Board believes that full year trading will be below current market expectations.” The acronym WHO refers to William Hill Online, which partnered with Playtech to open the 2009 calendar year.
Total Group Revenues for Playtech were €27.0 million, a jump of 0.4% compared to the second quarter of 2008 and a drop of 4.2% from the €28.2 million recorded during the first quarter of this year. Poker revenues rose by 17.8% year over year to €8.2 million; that figure represented a 6.4% drop in comparison to the €8.8 million recorded in the opening quarter of 2009.
Playtech derived 62% of its revenue from the European continent, down from the 72% that this region provided during the second quarter of last year. Contrastingly, its portion of revenue from Asia Pacific grew from 21% during the second quarter of 2008 to 32% during the recently completed quarter. A partnership with Betfair to provide casino and Bingo software to the independent site is expected to add increased revenue during the fourth quarter. In addition, Playtech will provide its full spectrum of products, including casino, poker, and mobile games, to NetPlay TV.
With regards to its Italian market, Playtech notes, “The Italian poker network is exceeding management’s expectations and is now Italy’s third largest poker network by revenues generated by the network licensees, while further positive progress in regulations will bring new opportunities in Italy from this strong base.” In the wake of new internet gambling laws in Italy, PokerStars recently transferred players from its dot-com site to PokerStars.it. Playtech has also forged a partnership with the iPoker Network site Chili Poker “in anticipation of the introduction of new regulations liberalizing the French market for online gaming.”
The company also spent the second quarter hard at work on a strategic partnership with the Serbian State Lottery. Playtech will provide casino and poker products in the Serbian language in its first agreement with a country’s lottery. New Serbian players will join the world’s third largest online poker network behind PokerStars and Full Tilt Poker. The iPoker Network is largest that does not accept players from the United States, boasting a seven-day running average of 5,500 real money ring game players. At its peak, expect to see over 10,000 poker hopefuls heading to the felts of the massive network to compete in cash games.
iPoker Network sites include BetFred, Boyle Poker, CD Poker, Expekt, Mansion Poker, Noble Poker, Paddy Power Poker, Poker Ocean, Titan Poker, and VC Poker. Playtech is publicly traded on the London Stock Exchange under the symbol “PTEC.” The stock closed trading on Friday at ₤291.75, down ₤11.00 on the day (3.63%). Last September, prior to the worldwide economic meltdown, Playtech’s stock had been trading as high as ₤528.
The company was founded in 1999 and forged its first deal, with Swiss Casino, two years later. The iPoker Network came to life in 2004, one year removed from Chris Moneymaker defeating poker pro Sammy Farha in the World Series of Poker (WSOP) Main Event. (Credit: Poker News Daily)
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In recent news released by Playtech, which operates the popular iPoker Network, it was revealed that the company’s Gross Income for the second quarter of 2009 rose by 23.3% year over year to €33.1 million. That figure was slightly below the €33.8 million recorded during the first quarter of 2009.
For the first half of the 2009 calendar year, Playtech recorded Gross Income of €66.9 million, up 29.8% from the €51.6 million recorded during the first half of 2008. A statement released by the company explains, “The Board is confident the Company will deliver strong growth for the full year to December 2009 compared to 2008. However, owing to the slower than anticipated start to WHO and the general challenging economic environment impacting some of our licensees, the Board believes that full year trading will be below current market expectations.” The acronym WHO refers to William Hill Online, which partnered with Playtech to open the 2009 calendar year.
Total Group Revenues for Playtech were €27.0 million, a jump of 0.4% compared to the second quarter of 2008 and a drop of 4.2% from the €28.2 million recorded during the first quarter of this year. Poker revenues rose by 17.8% year over year to €8.2 million; that figure represented a 6.4% drop in comparison to the €8.8 million recorded in the opening quarter of 2009.
Playtech derived 62% of its revenue from the European continent, down from the 72% that this region provided during the second quarter of last year. Contrastingly, its portion of revenue from Asia Pacific grew from 21% during the second quarter of 2008 to 32% during the recently completed quarter. A partnership with Betfair to provide casino and Bingo software to the independent site is expected to add increased revenue during the fourth quarter. In addition, Playtech will provide its full spectrum of products, including casino, poker, and mobile games, to NetPlay TV.
With regards to its Italian market, Playtech notes, “The Italian poker network is exceeding management’s expectations and is now Italy’s third largest poker network by revenues generated by the network licensees, while further positive progress in regulations will bring new opportunities in Italy from this strong base.” In the wake of new internet gambling laws in Italy, PokerStars recently transferred players from its dot-com site to PokerStars.it. Playtech has also forged a partnership with the iPoker Network site Chili Poker “in anticipation of the introduction of new regulations liberalizing the French market for online gaming.”
The company also spent the second quarter hard at work on a strategic partnership with the Serbian State Lottery. Playtech will provide casino and poker products in the Serbian language in its first agreement with a country’s lottery. New Serbian players will join the world’s third largest online poker network behind PokerStars and Full Tilt Poker. The iPoker Network is largest that does not accept players from the United States, boasting a seven-day running average of 5,500 real money ring game players. At its peak, expect to see over 10,000 poker hopefuls heading to the felts of the massive network to compete in cash games.
iPoker Network sites include BetFred, Boyle Poker, CD Poker, Expekt, Mansion Poker, Noble Poker, Paddy Power Poker, Poker Ocean, Titan Poker, and VC Poker. Playtech is publicly traded on the London Stock Exchange under the symbol “PTEC.” The stock closed trading on Friday at ₤291.75, down ₤11.00 on the day (3.63%). Last September, prior to the worldwide economic meltdown, Playtech’s stock had been trading as high as ₤528.
The company was founded in 1999 and forged its first deal, with Swiss Casino, two years later. The iPoker Network came to life in 2004, one year removed from Chris Moneymaker defeating poker pro Sammy Farha in the World Series of Poker (WSOP) Main Event. (Credit: Poker News Daily)
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$250k Guaranteed Super Sunday
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WPT Satellites
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Breaking News! Online Poker Bill Introduced in U.S. Senate
New Bill Is Separate from Barney Frank's Similar Online Gambling Bill, with a Higher-Profile Position in the Senate
August 6, 2009 (CAP Newswire) -- New Jersey Democrat Robert Menendez has just introduced into the U.S. Senate a brand new piece of legislation designed to legalize and regulate Internet poker.
"To amend title 31, United States Code, to provide for the licensing by the Secretary of the Treasury of Internet poker and other games that are predominantly of skill, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes," the bill begins.
The bill would establish a new legal regulatory framework for Internet poker in the United States, and also put in place certain consumer protections such as age restrictions. Officially entitled S.8309, the Internet Poker and Games of Skill Regulation, Consumer Protection, and Enforcement Act, it was introduced today.
No matter what success this bill meets with, it represents another huge milestone in the nationwide struggle to reclassify poker from gambling to a game of skill. This movement seeks to enable online poker to be not only legalized but also change the way it is regarded in popular culture.
That movement has gained a lot of transaction over the past year, with smaller court victories in states such as Colorado, Pennsylvania, and South Carolina, and with Representative Barney Frank’s recent efforts to legalize and regulate certain sectors of online gambling with his own legislation (which is separate from this bill).
Home to the original U.S. gaming resort destination, Atlantic City, New Jersey has long had its own internal struggles regarding the legality of gaming, and has recently clashed with the federal government on this basis. So it makes sense that the author of this new legislation is is from New Jersey — and a Democrat, the party that is apparently more open to the idea of fully legalized online gambling. (Although it technically has bipartisan support, the vast majority of supporters of Barney Frank’s recent pro-Internet gambling efforts have been Democrats.)
The Poker Players Alliance (PPA) not only supports the new bill, but has provided a copy of it at its website. Check it out here. (Credit: CAP)
Greg Tingle comment...
This online poker bill is most welcome news, and has been a long time coming.
Down under in Australia poker and I dare say, online poker, is already a strong part of our popular culture, just as are kangaroos, meat pies and Holden cars, and having a punt on the (horse) races and a bit of a spin on the pokies. By the way, Sportingbet is introducing V8Bet, so punters can be on the V8 Supercar racing, (Holden and Ford).
Some may not like this, and some will, but there's strong rumblings that sports betting might try to significantly ride off the back of this poker bill, as there could be legal arguments that there certainly are elements of skill (knowledge etc) in picking sports bet winners. A similar scenario of sorts with the game known as "Spot The Ball", which has long been a part of British culture, with numerous British newspapers running Spot The Ball competitions. Property listing companies such as Play4Property.com are taking the Spot The Ball game internationally, which isn't that hard to do with the internet as an medium of media, backed up by traditional media, journalism, marketing et al.
Friends, the rules have changed, and will continue to, in regards to online poker, online games of skill, online gambling, and the way business is conducted between people, corporations, media companies et al.
A few apt quotes from some gentlemen with some good ideas and track record of success, getting things done, and changing the world, and the rules of play!
James Packer - "Internet is like electricity"
Rupert Murdoch - "Big will not beat small anymore. It will be the fast beating the slow"
Charles Darwin - "In the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed"
My tip, look to California to plug into online poker, online sports betting, and quite likely, online gambling as a whole. They have been pro active and early adopters on other social issues such as the environment, poverty and health.
You can bet that Harrah's Entertainment and their chain of hotel - casino - resorts will be watching this space, as will Macau's Cotai Strip, and even Parliament House down under in Canberra, Australia.
In this space, I'm sure glad to be a journalist, media agent and website portal developer, rather than an owner of a casino or online casino. The online poker and online casino happenings are most certainly extremely newsworthy items to cover. It's of course part of the larger civil liberties and freedom of speech - censorship debate. We should have the right to do what we like in our homes, as long as it doesn't hurt anyone. Also remember, sometimes the law is an ass, so just because something is legal or illegal, doesn't mean it is necessarily right or wrong. It just means its (current) law, some of which get changed for the better, some not.
As always, know your limits, bet with your head, not over it. If the gambling, or poker playing stops being enjoyable, its likely time to stop. Have fun, whether poker, pokies, spot the ball, or some other game tickles your fancy.
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New Bill Is Separate from Barney Frank's Similar Online Gambling Bill, with a Higher-Profile Position in the Senate
August 6, 2009 (CAP Newswire) -- New Jersey Democrat Robert Menendez has just introduced into the U.S. Senate a brand new piece of legislation designed to legalize and regulate Internet poker.
"To amend title 31, United States Code, to provide for the licensing by the Secretary of the Treasury of Internet poker and other games that are predominantly of skill, to provide for consumer protections on the Internet, to enforce the tax code, and for other purposes," the bill begins.
The bill would establish a new legal regulatory framework for Internet poker in the United States, and also put in place certain consumer protections such as age restrictions. Officially entitled S.8309, the Internet Poker and Games of Skill Regulation, Consumer Protection, and Enforcement Act, it was introduced today.
No matter what success this bill meets with, it represents another huge milestone in the nationwide struggle to reclassify poker from gambling to a game of skill. This movement seeks to enable online poker to be not only legalized but also change the way it is regarded in popular culture.
That movement has gained a lot of transaction over the past year, with smaller court victories in states such as Colorado, Pennsylvania, and South Carolina, and with Representative Barney Frank’s recent efforts to legalize and regulate certain sectors of online gambling with his own legislation (which is separate from this bill).
Home to the original U.S. gaming resort destination, Atlantic City, New Jersey has long had its own internal struggles regarding the legality of gaming, and has recently clashed with the federal government on this basis. So it makes sense that the author of this new legislation is is from New Jersey — and a Democrat, the party that is apparently more open to the idea of fully legalized online gambling. (Although it technically has bipartisan support, the vast majority of supporters of Barney Frank’s recent pro-Internet gambling efforts have been Democrats.)
The Poker Players Alliance (PPA) not only supports the new bill, but has provided a copy of it at its website. Check it out here. (Credit: CAP)
Greg Tingle comment...
This online poker bill is most welcome news, and has been a long time coming.
Down under in Australia poker and I dare say, online poker, is already a strong part of our popular culture, just as are kangaroos, meat pies and Holden cars, and having a punt on the (horse) races and a bit of a spin on the pokies. By the way, Sportingbet is introducing V8Bet, so punters can be on the V8 Supercar racing, (Holden and Ford).
Some may not like this, and some will, but there's strong rumblings that sports betting might try to significantly ride off the back of this poker bill, as there could be legal arguments that there certainly are elements of skill (knowledge etc) in picking sports bet winners. A similar scenario of sorts with the game known as "Spot The Ball", which has long been a part of British culture, with numerous British newspapers running Spot The Ball competitions. Property listing companies such as Play4Property.com are taking the Spot The Ball game internationally, which isn't that hard to do with the internet as an medium of media, backed up by traditional media, journalism, marketing et al.
Friends, the rules have changed, and will continue to, in regards to online poker, online games of skill, online gambling, and the way business is conducted between people, corporations, media companies et al.
A few apt quotes from some gentlemen with some good ideas and track record of success, getting things done, and changing the world, and the rules of play!
James Packer - "Internet is like electricity"
Rupert Murdoch - "Big will not beat small anymore. It will be the fast beating the slow"
Charles Darwin - "In the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed"
My tip, look to California to plug into online poker, online sports betting, and quite likely, online gambling as a whole. They have been pro active and early adopters on other social issues such as the environment, poverty and health.
You can bet that Harrah's Entertainment and their chain of hotel - casino - resorts will be watching this space, as will Macau's Cotai Strip, and even Parliament House down under in Canberra, Australia.
In this space, I'm sure glad to be a journalist, media agent and website portal developer, rather than an owner of a casino or online casino. The online poker and online casino happenings are most certainly extremely newsworthy items to cover. It's of course part of the larger civil liberties and freedom of speech - censorship debate. We should have the right to do what we like in our homes, as long as it doesn't hurt anyone. Also remember, sometimes the law is an ass, so just because something is legal or illegal, doesn't mean it is necessarily right or wrong. It just means its (current) law, some of which get changed for the better, some not.
As always, know your limits, bet with your head, not over it. If the gambling, or poker playing stops being enjoyable, its likely time to stop. Have fun, whether poker, pokies, spot the ball, or some other game tickles your fancy.
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Thursday, August 06, 2009
World Poker Tour Reports Second Successive Profitable Quarter, by Earl Burton - Poker News Daily - 3rd August 2009
It was announced last Wednesday that World Poker Tour Enterprises (WPTE), which owns the popular World Poker Tour (WPT) and the up-and-coming subscription online poker site ClubWPT.com, enjoyed its second consecutive profitable quarter with the close of Q2 2009.
While the revenues for the second quarter of 2009 were behind those during the same period in 2008 - from $5.1 million to $4.6 million - WPTE was able to make a profit due to the lower production costs of Season VII of the WPT broadcasts compared to the costs had been previously. In addition, international distribution of WPT broadcasts and the continued growth of ClubWPT.com has been able to push the organization into the black. Overall, income from continuing operations was $370,000 in the second quarter of 2009, compared to a $3.3 million loss in the second quarter of 2008
WPT Enterprises has been able to work itself into profitability from recognizing parts of the company that were under-performing. In the first quarter of 2009, WPT Enterprises cut away WPT China, which had been a drain on its bottom line. For example, the discontinuation of WPT China in the first quarter of 2009 helped WPTE only take a $95,000 loss on the venture in the second quarter versus the $581,000 WPT China lost during the second quarter of 2008.
Operating its own online poker room, wptonline.com, also was one of the appendages cut from the company. WPT Enterprises paid a $1 million charge for the discontinuation of wptonline.com and has seen profits soar with the subscription-based ClubWPT.com. The increase was driven by the Fox Sports Network broadcasts of ClubWPT, which offered online players a chance to win their way into a televised tournament with a $10,000 prize. In fact, the television offerings of WPTE had gross profit margins of 53% in the first two quarters of 2009, compared to just 39% during the same period in 2008.
“We have completed our second successful quarter, demonstrating the significant progress we have made in our turnaround efforts to position the company for future profitability,” Steve Lipscomb, President and CEO of WPTE, stated during the Second Quarter report. “Fox Sports Net completed the initial airing of 26 all-new episodes of Season Seven of the World Poker Tour television series across the U.S. in July as a part of FSN’s Sunday sports block. We also filmed our first Season Eight tour stop in high definition and FSN will air Season Eight of the World Poker Tour television series beginning in late 2009 or early 2010.”
The expectations for the third quarter of 2009 are for continued profitability, albeit on the lower end of the spectrum. WPT Enterprises revenues are expected to be in the range of $3.2 to $3.4 million and, with the lower production and administrative costs, expect to turn a small profit from continuing operations. If Season VII episodes are delivered to foreign markets ahead of schedule, then revenues and profits from the fourth quarter will be shifted into the third quarter of 2009 and could increase profitability further.
The recent success has shown elsewhere on the WPTE scoreboard. The company was able to avoid having its stock offerings de-listed by bringing the price above $1 in June. Currently the WPTE’s stock is trading on the NASDAQ at $1.36, nearly double what it was only three months ago. (Credit: Poker News Daily)
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It was announced last Wednesday that World Poker Tour Enterprises (WPTE), which owns the popular World Poker Tour (WPT) and the up-and-coming subscription online poker site ClubWPT.com, enjoyed its second consecutive profitable quarter with the close of Q2 2009.
While the revenues for the second quarter of 2009 were behind those during the same period in 2008 - from $5.1 million to $4.6 million - WPTE was able to make a profit due to the lower production costs of Season VII of the WPT broadcasts compared to the costs had been previously. In addition, international distribution of WPT broadcasts and the continued growth of ClubWPT.com has been able to push the organization into the black. Overall, income from continuing operations was $370,000 in the second quarter of 2009, compared to a $3.3 million loss in the second quarter of 2008
WPT Enterprises has been able to work itself into profitability from recognizing parts of the company that were under-performing. In the first quarter of 2009, WPT Enterprises cut away WPT China, which had been a drain on its bottom line. For example, the discontinuation of WPT China in the first quarter of 2009 helped WPTE only take a $95,000 loss on the venture in the second quarter versus the $581,000 WPT China lost during the second quarter of 2008.
Operating its own online poker room, wptonline.com, also was one of the appendages cut from the company. WPT Enterprises paid a $1 million charge for the discontinuation of wptonline.com and has seen profits soar with the subscription-based ClubWPT.com. The increase was driven by the Fox Sports Network broadcasts of ClubWPT, which offered online players a chance to win their way into a televised tournament with a $10,000 prize. In fact, the television offerings of WPTE had gross profit margins of 53% in the first two quarters of 2009, compared to just 39% during the same period in 2008.
“We have completed our second successful quarter, demonstrating the significant progress we have made in our turnaround efforts to position the company for future profitability,” Steve Lipscomb, President and CEO of WPTE, stated during the Second Quarter report. “Fox Sports Net completed the initial airing of 26 all-new episodes of Season Seven of the World Poker Tour television series across the U.S. in July as a part of FSN’s Sunday sports block. We also filmed our first Season Eight tour stop in high definition and FSN will air Season Eight of the World Poker Tour television series beginning in late 2009 or early 2010.”
The expectations for the third quarter of 2009 are for continued profitability, albeit on the lower end of the spectrum. WPT Enterprises revenues are expected to be in the range of $3.2 to $3.4 million and, with the lower production and administrative costs, expect to turn a small profit from continuing operations. If Season VII episodes are delivered to foreign markets ahead of schedule, then revenues and profits from the fourth quarter will be shifted into the third quarter of 2009 and could increase profitability further.
The recent success has shown elsewhere on the WPTE scoreboard. The company was able to avoid having its stock offerings de-listed by bringing the price above $1 in June. Currently the WPTE’s stock is trading on the NASDAQ at $1.36, nearly double what it was only three months ago. (Credit: Poker News Daily)
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ECPokerTour.com Selects Destination City for its Upcoming Tournament
TitanPoker.com players will compete for seats at the prestigious Euro City Poker Tour, to be held this November at the Casino di Venezia in Vittoriosa, Malta.
July 30, 2009 (CAP PR Wire) -- Titan Poker, the leading online poker room in Europe, will send a large delegation of talented poker players to the ECPokerTour (Euro City Poker Tour, http://ecpokertour.com) event in Malta this November.
TitanPoker.com (www.titanpoker.com) has just launched its ECPokerTour Malta tournament series. Winning players at the weekly Super Satellite tournaments will be awarded a $5,000 prize package, including €1,500 buy-in to the ECPokerTour Main Event tournament, which will be staged at the Casino di Venezia in Vittoriosa, Malta, starting November 13, 2009.
Qualifying players will be treated royally with four nights of luxurious accommodation at the Excelsior Grand Hotel in Malta, and will receive up to €700 for flights and spending money.
The ECPokerTour Malta tournament is the latest event in the Euro City Poker Tour, Europe’s most prestigious poker tournament series. Previous ECPokerTour events were staged in May in Salzburg, and in Madrid last year.
Member players at www.titanpoker.com are regularly awarded seats to major poker events around the world, including the World Series of Poker, the Asian Poker Tour, the Aussie Millions and the Irish Open. Titan Poker invites both amateur and skilled poker players to enjoy the benefits of the improved Club Titan, the most rewarding VIP Poker Club online.
About Titanpoker.com:
TitanPoker.com is Europe's number one online poker room and part of the iPoker Network. Titan Poker's software is developed and maintained by Playtech, a public company and leading gaming software developer. With nearly 30,000 online players at peak hours, Titan Poker guarantees $16,000,000 in monthly prizes, features special sit 'n' go tournaments with progressive jackpots as high as $100,000, and awards players with entries to major worldwide poker tournaments. The Titan Poker brand is promoted exclusively by Euro Partners.
About Euro Partners:
Euro Partners is an affiliate marketing company that is an industry leader for a variety of reasons. We offer the highest converting gaming products on the internet (casino, poker and bingo). Our affiliate program earns you maximum commissions, provides timely payouts and personal account management.
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TitanPoker.com players will compete for seats at the prestigious Euro City Poker Tour, to be held this November at the Casino di Venezia in Vittoriosa, Malta.
July 30, 2009 (CAP PR Wire) -- Titan Poker, the leading online poker room in Europe, will send a large delegation of talented poker players to the ECPokerTour (Euro City Poker Tour, http://ecpokertour.com) event in Malta this November.
TitanPoker.com (www.titanpoker.com) has just launched its ECPokerTour Malta tournament series. Winning players at the weekly Super Satellite tournaments will be awarded a $5,000 prize package, including €1,500 buy-in to the ECPokerTour Main Event tournament, which will be staged at the Casino di Venezia in Vittoriosa, Malta, starting November 13, 2009.
Qualifying players will be treated royally with four nights of luxurious accommodation at the Excelsior Grand Hotel in Malta, and will receive up to €700 for flights and spending money.
The ECPokerTour Malta tournament is the latest event in the Euro City Poker Tour, Europe’s most prestigious poker tournament series. Previous ECPokerTour events were staged in May in Salzburg, and in Madrid last year.
Member players at www.titanpoker.com are regularly awarded seats to major poker events around the world, including the World Series of Poker, the Asian Poker Tour, the Aussie Millions and the Irish Open. Titan Poker invites both amateur and skilled poker players to enjoy the benefits of the improved Club Titan, the most rewarding VIP Poker Club online.
About Titanpoker.com:
TitanPoker.com is Europe's number one online poker room and part of the iPoker Network. Titan Poker's software is developed and maintained by Playtech, a public company and leading gaming software developer. With nearly 30,000 online players at peak hours, Titan Poker guarantees $16,000,000 in monthly prizes, features special sit 'n' go tournaments with progressive jackpots as high as $100,000, and awards players with entries to major worldwide poker tournaments. The Titan Poker brand is promoted exclusively by Euro Partners.
About Euro Partners:
Euro Partners is an affiliate marketing company that is an industry leader for a variety of reasons. We offer the highest converting gaming products on the internet (casino, poker and bingo). Our affiliate program earns you maximum commissions, provides timely payouts and personal account management.
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Senator Menendez to Introduce Online Poker Legislation on Thursday, by Dan Cypra - Poker News Daily - 5th August 2009
In breaking news from Capitol Hill, Senator Robert Menendez (D-NJ) will introduce legislation to license and regulate online poker in the United States on Thursday, according to Dow Jones Newswires.
During National Poker Week, which occurred from July 19th to 25th, it was revealed that Menendez would likely drop legislation during the festivities or the following week. Then, Poker News Daily learned that a bill similar to last Congressional session’s S 3616 would likely be introduced this week. Poker Players Alliance (PPA) Executive Director John Pappas stated during a working dinner to open National Poker Week, “Pushing poker will be an immediate lift and will be easier than [legalizing] other things.” He also reminded over 30 of the PPA’s State Directors, a handful of poker pros, and media in attendance, “Poker has always been played in people’s homes. We are the Poker Players Alliance. We aren’t the Roulette Alliance. We love the Menendez bill because it focuses on our core beliefs.”
The PPA had a draft of the bill in mid-July. Menendez’s S 3616 was introduced last September and dubbed the Internet Skill Game Licensing and Control Act. The bill’s definitions specifically included online poker, explicitly legalizing the game in the United States: “The term ‘Internet skill game’ means an Internet-based game that uses simulated cards, dice, or tiles in which success is predominantly determined by the skill of the players, including poker, bridge, and mahjong.” The bill called for the legalization of skill games not backed by the house, meaning that the action was primarily player versus player. Online poker rooms like PokerStars and Full Tilt Poker raise revenue by taking a percent of each pot or tournament buy-in, dubbed the “juice” or “rake.”
In order to apply for a license to operate a skill game online and solicit customers from the United States, complete financial information was required. Also required were an outline of an organization’s corporate structure and the “names of all persons directly or indirectly interested in the business of the applicant and the nature of such interest.” Background checks of individuals and directors associated with each licensee would have been conducted and betting on sports was specifically prohibited. S 3616 vanished from the record after the 110th Congress adjourned.
According to the PPA, the legislation to be introduced by Menendez on Thursday will be similar to S 3616. The Dow Jones report notes, “It would establish a regulatory framework that would allow online poker companies to register in the U.S.” A 10% tax on deposits would be added, 5% to State Governments and 5% to the Federal Government. During the last Congressional session, Congressman Robert Wexler introduced a similar measure in HR 2610, the Skill Game Protection Act, which exempted poker and other skill games from existing internet gambling legislation.
At the beginning of May, Congressman Barney Frank (D-MA) introduced HR 2266, which would delay industry compliance with the Unlawful Internet Gambling Enforcement Act (UIGEA) by one year to December 1st, 2010. In addition, the Massachusetts lawmaker unveiled HR 2267, which establishes a comprehensive licensing and regulatory framework for the internet gambling industry in the United States. HR 2267 currently boasts 54 co-sponsors, while HR 2266 has 35.
We’ll have full details on Menendez’s new Senate bill as soon as it’s released right here on Poker News Daily. (Credit: Poker News Daily)
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In breaking news from Capitol Hill, Senator Robert Menendez (D-NJ) will introduce legislation to license and regulate online poker in the United States on Thursday, according to Dow Jones Newswires.
During National Poker Week, which occurred from July 19th to 25th, it was revealed that Menendez would likely drop legislation during the festivities or the following week. Then, Poker News Daily learned that a bill similar to last Congressional session’s S 3616 would likely be introduced this week. Poker Players Alliance (PPA) Executive Director John Pappas stated during a working dinner to open National Poker Week, “Pushing poker will be an immediate lift and will be easier than [legalizing] other things.” He also reminded over 30 of the PPA’s State Directors, a handful of poker pros, and media in attendance, “Poker has always been played in people’s homes. We are the Poker Players Alliance. We aren’t the Roulette Alliance. We love the Menendez bill because it focuses on our core beliefs.”
The PPA had a draft of the bill in mid-July. Menendez’s S 3616 was introduced last September and dubbed the Internet Skill Game Licensing and Control Act. The bill’s definitions specifically included online poker, explicitly legalizing the game in the United States: “The term ‘Internet skill game’ means an Internet-based game that uses simulated cards, dice, or tiles in which success is predominantly determined by the skill of the players, including poker, bridge, and mahjong.” The bill called for the legalization of skill games not backed by the house, meaning that the action was primarily player versus player. Online poker rooms like PokerStars and Full Tilt Poker raise revenue by taking a percent of each pot or tournament buy-in, dubbed the “juice” or “rake.”
In order to apply for a license to operate a skill game online and solicit customers from the United States, complete financial information was required. Also required were an outline of an organization’s corporate structure and the “names of all persons directly or indirectly interested in the business of the applicant and the nature of such interest.” Background checks of individuals and directors associated with each licensee would have been conducted and betting on sports was specifically prohibited. S 3616 vanished from the record after the 110th Congress adjourned.
According to the PPA, the legislation to be introduced by Menendez on Thursday will be similar to S 3616. The Dow Jones report notes, “It would establish a regulatory framework that would allow online poker companies to register in the U.S.” A 10% tax on deposits would be added, 5% to State Governments and 5% to the Federal Government. During the last Congressional session, Congressman Robert Wexler introduced a similar measure in HR 2610, the Skill Game Protection Act, which exempted poker and other skill games from existing internet gambling legislation.
At the beginning of May, Congressman Barney Frank (D-MA) introduced HR 2266, which would delay industry compliance with the Unlawful Internet Gambling Enforcement Act (UIGEA) by one year to December 1st, 2010. In addition, the Massachusetts lawmaker unveiled HR 2267, which establishes a comprehensive licensing and regulatory framework for the internet gambling industry in the United States. HR 2267 currently boasts 54 co-sponsors, while HR 2266 has 35.
We’ll have full details on Menendez’s new Senate bill as soon as it’s released right here on Poker News Daily. (Credit: Poker News Daily)
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Online casino and poker players prefer strong, established brand names
Findings conducted by Media Man Australia and Casino News Media indicate that online casino and online poker players much prefer strong, established brands, especially in times of economic instability as is currently the case in the worlds financial markets.
The following is a summary report of the findings by geographical region, listing the overall top 5 gaming / casino / betting brands in each region. Hitwise, Online Casino City, PokerScout.com, InfoPowa News, Gambling911, Poker News Daily, Alexa, Google and Yahoo! results formed part of the findings. The Media Man Australia and Casino News Media brand is not being included in this report.
Australia
Crown Casino and Crown Poker
PartyCasino.com and PartyPoker.com
Pacific Poker and 888
Centrebet
Sportingbet
Britain
Virgin Games
Aspinalls Online Casino, Aspinalls Online Poker and Aspers
PKR
Paddy Poker
Betfair
Canada
Loto Quebec
PartyCasino.com and PartyPoker.com
Canadian Poker Tour
*other brand findings for Canadian region were not conclusive
Fast movers on a global scale ranging from most well known to least well known are:
JackpotCity.com and JackpotCity.co.uk
PKR Poker and PKR Casino
Asia Pacific Poker Tour
Aspinalls Online Poker
Latin American Poker Tour
*the top 5 gaming and casino entities on a global scale ranging from most well known to least well known are:
Donald Trump
James Packer
Steve Wynn
Stanley Ho
Damian Aspinall / Calvin Ayre (tie)
United States
BetUs.com
New York Lottery
Bodog
PokerStars.net
Daily Racing Form
China (Macau)
City Of Dreams
Asian Poker Tour
World Series of Poker
PartyPoker.com
PKR
* Microsoft, Sony and Wikipedia are making significant movements into the gaming and igaming industry, however are not classified as gambling brands in these findings.
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Findings conducted by Media Man Australia and Casino News Media indicate that online casino and online poker players much prefer strong, established brands, especially in times of economic instability as is currently the case in the worlds financial markets.
The following is a summary report of the findings by geographical region, listing the overall top 5 gaming / casino / betting brands in each region. Hitwise, Online Casino City, PokerScout.com, InfoPowa News, Gambling911, Poker News Daily, Alexa, Google and Yahoo! results formed part of the findings. The Media Man Australia and Casino News Media brand is not being included in this report.
Australia
Crown Casino and Crown Poker
PartyCasino.com and PartyPoker.com
Pacific Poker and 888
Centrebet
Sportingbet
Britain
Virgin Games
Aspinalls Online Casino, Aspinalls Online Poker and Aspers
PKR
Paddy Poker
Betfair
Canada
Loto Quebec
PartyCasino.com and PartyPoker.com
Canadian Poker Tour
*other brand findings for Canadian region were not conclusive
Fast movers on a global scale ranging from most well known to least well known are:
JackpotCity.com and JackpotCity.co.uk
PKR Poker and PKR Casino
Asia Pacific Poker Tour
Aspinalls Online Poker
Latin American Poker Tour
*the top 5 gaming and casino entities on a global scale ranging from most well known to least well known are:
Donald Trump
James Packer
Steve Wynn
Stanley Ho
Damian Aspinall / Calvin Ayre (tie)
United States
BetUs.com
New York Lottery
Bodog
PokerStars.net
Daily Racing Form
China (Macau)
City Of Dreams
Asian Poker Tour
World Series of Poker
PartyPoker.com
PKR
* Microsoft, Sony and Wikipedia are making significant movements into the gaming and igaming industry, however are not classified as gambling brands in these findings.
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Wednesday, August 05, 2009
Final Chance To Win Your Macau Seat
Players hoping to win their seat into the main event of next month's Asian Poker Tour (APT) Macau Festival are being given one last chance this weekend through a series of satellites at PartyPoker.com and the iPoker Network.
This year's APT Macau Festival will run from August 12 to 23 at the Galaxy StarWorld Hotel And Casino in the former Portuguese colony with its main event featuring a buy-in set at $4,438.
However, those short of the cash for this buy-in can win their seat for next month's tournament courtesy of leading online poker site PartyPoker.com and the iPoker Network.
Last year's six-day event has been transformed into a record-breaking twelve-day extravaganza creating Asia's first festival of poker. The APT Macau Festival will also feature the largest range of side events ever seen in Asia with high-limit games and sit-and-go tables running throughout.
The APT Macau Festival will also serve as the backdrop for the first Chinese-language poker film, provisionally entitled Poker King, which is due to star A-list Chinese actors and pop stars.
"Next month's APT Macau Festival will be bigger and better with twelve days of non-stop poker action and fun," said Chris Parker, Chief Executive Officer for the APT.
"The APT Macau Festival will feature a side events schedule never seen in Asia before including several new formats that will stir the curiosity of poker enthusiasts at all levels. For those that have not yet reserved their seat to what is sure to be a very memorable event, this weekend marks the last chance for players to qualify through PartyPoker.com and the iPoker Network. Make sure you don't miss out on your APT Macau experience and the chance to win some life-changing prizes."
In 2008, the event attracted some of the most famous names in the game including Doyle Brunson, Jack Binion, Johnny Chan, John Juanda, Huck Seed, Liz Lieu, Todd Brunson, Kenny Tran and Poker Pack members Nam Le, Quinn Do, JC Tran, Steve Sung, David ‘Chino' Rheem and Kwang Soo Lee.
Full details on the upcoming APT Macau Festival can be found at AsianPT.com.
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Players hoping to win their seat into the main event of next month's Asian Poker Tour (APT) Macau Festival are being given one last chance this weekend through a series of satellites at PartyPoker.com and the iPoker Network.
This year's APT Macau Festival will run from August 12 to 23 at the Galaxy StarWorld Hotel And Casino in the former Portuguese colony with its main event featuring a buy-in set at $4,438.
However, those short of the cash for this buy-in can win their seat for next month's tournament courtesy of leading online poker site PartyPoker.com and the iPoker Network.
Last year's six-day event has been transformed into a record-breaking twelve-day extravaganza creating Asia's first festival of poker. The APT Macau Festival will also feature the largest range of side events ever seen in Asia with high-limit games and sit-and-go tables running throughout.
The APT Macau Festival will also serve as the backdrop for the first Chinese-language poker film, provisionally entitled Poker King, which is due to star A-list Chinese actors and pop stars.
"Next month's APT Macau Festival will be bigger and better with twelve days of non-stop poker action and fun," said Chris Parker, Chief Executive Officer for the APT.
"The APT Macau Festival will feature a side events schedule never seen in Asia before including several new formats that will stir the curiosity of poker enthusiasts at all levels. For those that have not yet reserved their seat to what is sure to be a very memorable event, this weekend marks the last chance for players to qualify through PartyPoker.com and the iPoker Network. Make sure you don't miss out on your APT Macau experience and the chance to win some life-changing prizes."
In 2008, the event attracted some of the most famous names in the game including Doyle Brunson, Jack Binion, Johnny Chan, John Juanda, Huck Seed, Liz Lieu, Todd Brunson, Kenny Tran and Poker Pack members Nam Le, Quinn Do, JC Tran, Steve Sung, David ‘Chino' Rheem and Kwang Soo Lee.
Full details on the upcoming APT Macau Festival can be found at AsianPT.com.
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