Poker Business

Here you will find stories about the poker industry. From stories about the companies in the gaming business, to industry insider dirt, this is the place for all the news stories relating to the online poker business.

• WPTE Notified of Possible NASDAQ Delisting

  August 20, 2008,

  On July 8, 2005, over ten million shares of World Poker Tour Enterprise, Inc. (WPTE) stock traded at a high of $29.50 as news circulated that Doyle Brunson had made a $700 million unsolicited bid for the company. Exactly three years...

   

• CryptoLogic Grinds Out Second Quarter

  August 19, 2008,

  The fourth quarter of 2006 was a tough one for the online gaming software provider CryptoLogic. With the passage of the UIGEA and the loss of one its key poker licensees, Betfair, Cryptologic has worked hard to better position...

   

• Casinos Earnings Down, But Better than Analysts' Expectations

  August 14, 2008,

  Several publicly traded casino companies have posted their second-quarter earnings over the last couple of weeks. While results were mixed, Wall Street loved the news, sending almost every gaming stock higher on the results...

   

• Las Vegas Sees Marginal Decline in Gaming Revenue

  August 13, 2008,

  There was more apprehension than normal pending the monthly release of Nevada's gaming revenues. Last month's release, detailing May's revenue statistics, marked the second worst year-over-year performance...

   

• Harrah's Bottom Line Still Hampered by Debt

  August 11, 2008,

  Considering that 2008 has been a challenging year for the casino industry thus far, Harrah's Entertainment did a good job managing its top line. In its second quarter 2008 results, Harrah's revenues were down only 3.7% for the quarter...

   

• WPTE Posts Another Loss, Changes Online Gaming Strategy

  August 07, 2008,

  Analysts were prepared for another loss from World Poker Tour Enterprises, Inc. this quarter. The shift from the Travel Channel to GSN for the televised WPT series had resulted in lower per episode fees, WPTE's online money site...

   

• 888 Holdings' 2nd Quarter Grows Despite Stagnant Poker Earnings

  August 07, 2008,

  888 Holdings, online gaming company and home to Pacific Poker, posted a healthy second quarter financial report this week. Net gaming revenue (NGR) came in at $67 million, up 33% from the same period last year and up 4% from last quarter...

   

• Lakes Entertainment Files Ohio Casino Petition

  August 06, 2008,

  Lakes Entertainment, the casino and property development corporation that is also the majority stockholder of World Poker Tour Enterprises, Inc., announced yesterday that it had filed a petition for a referendum to build a single casino...

   

• Boyd Gaming Stops Construction at Echelon

  August 04, 2008,

  Last week, Boyd Gaming announced it would suspend construction on its 140,000 square foot casino project, Echelon, which had begun on the former site of the Stardust Resort and Casino. While Boyd had secured inexpensive financing for its...

   

• Banks Are Holding Up MGM's CityCenter Project Funding

  July 30, 2008,

  Almost a year ago, Dubai World entered into an agreement to become a part owner in MGM's megacasino project, CityCenter. The $5.1 billion deal was hailed by Wall Street...

   

• Foxwoods Dealer Unionization Battle Moves Closer to Legal Showdown

  July 23, 2008,

  The refusal by Connecticut-based Foxwoods Casino operators the Mashantucket Pequot tribe to negotiate with elected labor union representatives for their poker and other table-games dealers has now seen the filing of a formal...

   

• Playtech Shows Continued Growth in Second Quarter

  July 22, 2008,

  Gaming software and licensor Playtech announced record revenues for its second quarter of 2008, posting substantial growth across its business lines. The company received $42.4 million in total revenues for the three months ending...

   

• Moody's Downgrades Bond Ratings of Casino Operators

  July 21, 2008,

  On Friday, Moody's Investors Service downgraded the bond ratings of three casino operators – Wynn Resorts Ltd., Fountainbleau, and Riviera Holdings – from 'stable' to 'negative'. A fourth gaming operator – Boyd Gaming Corp. – was placed...

   

• Will the WSOP Stem the Losses on the Strip?

  July 16, 2008,

  Prior to Harrah's acquisition of the WSOP, the Las Vegas tournament was held in the spring. Harrah's shifted the large-drawing event closer to the summer, a traditionally slow period for the desert gaming locale. But with a sluggish...

   

• PartyGaming Launches Investment Product, Warns about Quarterly Results

  July 12, 2008,

  Last week PartyGaming announced that its second quarter results came in slightly lower than expected. Although Party won't make its full financial release until August 29th, the online gaming company announced that while its casino...

   

• Patrik Antonius Signs with Team Full Tilt

  June 01, 2008,

  Patrik Antonius, who will be playing at the first final table of the 2008 World Series of Poker later today, was announced as the most recent member of the prestigious Team Full Tilt during a private press conference...

   

• Party Stock Rises on U.S. Settlement Rumor

  May 31, 2008,

  On Friday, shares of PartyGaming Plc., owner/operators of PartyPoker, rose ten percent on speculations that the online company had reached a settlement with the Department of Justice (DOJ). Although no charges have ever been filed...

   

• Vegas Strip Revenues Slip in March

  May 29, 2008,

  Prevailing wisdom has held that businesses that rely on gambling are recession-proof, and to some extent, that may still be true. But while gamblers are still making their ways to the tables, the economic slowdown is definitely...

   

• PartyGaming Names Jim Ryan, John O'Malia to Top Spots

  May 15, 2008,

  PartyGaming announced today that it had appointed Jim Ryan as Chief Executive Officer and that it had promoted John O'Malia to the newly created executive board position...

   

• WSOP and XP Events Join to Market WSOP Merchandise

  May 15, 2008,

  The World Series of Poker® announced this week that it has reached a multi-year agreement with XP Events, a turn-key retail merchandising partner for sports organizations and world-class events, to distribute WSOP merchandise broadly...

   

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