Financial

Whether it is quarterly financial reports, big losses or big gains, you’ll find out the latest financial news for gambling related industries right here. If we think a poker site is going bust, you’ll know about it. And if they are floating stock options, you’ll know it too.

Shareholders To Sue Zynga For Fraud

Shareholders To Sue Zynga For Fraud

Philip Conneller - March 31st, 2015

Facebook play-money poker giant Zynga can be sued by shareholders for misrepresenting its prospects prior to its IPO in late 2011, a US District judge in San Francisco ruled this week. Judge Jeffrey White, who threw out an earlier version of the lawsuit just over a year ago, said the testimonies of new witnesses supported […]

PokerStars Profits Soaring as Amaya Eyes New Jersey and Sports Betting Next

PokerStars Profits Soaring as Amaya Eyes New Jersey and Sports Betting Next

Philip Conneller - March 31st, 2015

Major revenue spike in fourth quarter for Amaya Inc. Sports betting platform imminent Entry into New Jersey online gaming market this year, says Amaya CEO PokerStars may not be a legal entity yet in the US, but the online mega-site is earning its keep very nicely elsewhere, thank you very much. Parent company Amaya Inc. […]

888 Holdings Shows Strong Growth And Steady Poker Revenues

888 Holdings Shows Strong Growth And Steady Poker Revenues

Ed Scimia - March 29th, 2015

888 Holdings may not have seen explosive growth in their poker sector, but holding steady was enough for the company to establish itself as the second-largest poker operator in the world (albeit by a very wide margin behind Amaya). According to the company’s annual financial results that were released on Tuesday, 888’s poker revenues were […]

PokerStars Records Biggest Ever Play Money Pot

PokerStars Records Biggest Ever Play Money Pot

Philip Conneller - March 28th, 2015

The biggest ever pot in the history of online poker, standing at a world-beating $6.47 billion, has just been won on PokerStars, but before you spit that sip of coffee back out through your nose and all over the curtains, please be advised this was a play-money pot. Yes, welcome to the curious, twilight world […]

Martin Jacobson, Liv Boeree Among European Poker Award Winners

Martin Jacobson, Liv Boeree Among European Poker Award Winners

Ed Scimia - March 27th, 2015

The European Poker Awards were held on Wednesday at the Portomaso Marina Hilton Hotel in St. Julians, Malta, honoring the top performances by European poker players in 2014. The ceremony drew hundreds of individuals who were part of Europe’s vibrant poker community, and were sponsored by the Global Poker Index (GPI). Schemion, Boeree Named Players […]

PokerStars Receives Motion To Dismiss Illinois Loss Recovery Case

PokerStars Receives Motion To Dismiss Illinois Loss Recovery Case

Ed Scimia - March 26th, 2015

PokerStars won a long-running legal battle in Illinois on Tuesday, as a judge granted a motion to dismiss a complaint against the company that was filed by Kelly and Casey Sonnenberg. The decision by Judge David Herndon was welcome but expected after a similar decision he made last March to dismiss Kelly Sonnenberg’s class action […]

GVC Eyes Up Bwin.party

GVC Eyes Up Bwin.party

Philip Conneller - March 25th, 2015

GVC Holdings, the owner of Sportingbet, has emerged as a possible suitor to bwin.party. The latter has been engaged in complex takeover talks with a number of mystery parties in recent months, and as GVC this week reports unstoppable growth since its acquisition of Sportingbet in 2012, it seems that further expansion may be in […]

Parx Denies Rumors Of Bwin.party Pennsylvania Partnership

Parx Denies Rumors Of Bwin.party Pennsylvania Partnership

Philip Conneller - March 23rd, 2015

Bwin.party let slip that it’s struck a deal with a land-based casino in Pennsylvania in anticipation of online poker regulation in the state, but refuses to say who. The revelation prompted a flurry of speculation as to the identity of the mystery party, which led to one operator, Parx Casino, to categorically deny involvement after […]

Ivey’s Bid To Dismiss Borgata Lawsuit Rejected

Ivey’s Bid To Dismiss Borgata Lawsuit Rejected

Philip Conneller - March 23rd, 2015

Phil Ivey’s attempt to have the Borgata’s lawsuit against him dropped has been rejected by a US District Judge. The case relates to four sessions of baccarat that Ivey and fellow defendant Cheng Yin Sun played at the Borgata in 2012, during which they won $9.6 million. The casino claims that the edge-sorting technique the […]

Greek Finance Minister Yanis Varoufakis Makes Mad Poker Prediction

Greek Finance Minister Yanis Varoufakis Makes Mad Poker Prediction

Daniel Smyth - March 22nd, 2015

Greece can make €500 million per annum in tax revenue from online gambling. That’s the ambitious claim Yanis Varoufakis made to his peers recently when discussing the subject of online gambling. Although Greece is currently experiencing a major financial crisis, Varoufakis believes his projections are correct and that he can find half a billion Euros each […]

Pennsylvania Legislators Said To Be “Open-Minded” About Online Poker

Pennsylvania Legislators Said To Be “Open-Minded” About Online Poker

Ed Scimia - March 19th, 2015

Pennsylvania is one of the major targets for online poker advocates in 2015. It’s easy to see why: while the state isn’t as large as California, Pennsylvania seems to have an appetite for gambling expansion right now, and they are fewer interest groups that would need to be brought on board in order to build […]