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.

New Jersey Poker Industry Rakes in $5 Million in July, Land Games Still Rule

New Jersey Poker Industry Rakes in $5 Million in July, Land Games Still Rule

Jon Sofen - August 16th, 2016

The New Jersey poker industry raked in $5 million during the month of July. Brick-and-mortar games accounted for 60 percent of that money, and the online poker industry accounted for the rest. Compared to July 2015, there wasn’t any change. Zero industry growth from year-to-year might not make the state government happy. But no regression […]

Trump Taj Mahal Closure Will Further Shrink Atlantic City’s Once-Thriving Live Poker Scene

Trump Taj Mahal Closure Will Further Shrink Atlantic City’s Once-Thriving Live Poker Scene

Philip Conneller - August 8th, 2016

The Trump Taj Mahal is expected to close on September 4th, and with it the newly refurbished poker room, which will further constrict an already shrinking live poker market in Atlantic City. It will bring the number of poker rooms in the resort town to just five: the Borgata; the Golden Nugget; Harrahs; The Tropicana; and the […]

Doug Polk Bankroll Challenge on Twitch to Appeal to Recreational Players

Doug Polk Bankroll Challenge on Twitch to Appeal to Recreational Players

Daniel Smyth - August 8th, 2016

Poker pro Doug Polk might have won more than $5 million in his career, but for his latest adventure, he’ll be heading back down to the minor leagues. In a bid to emulate the small-stakes-to-high-stakes challenge that persona non grata Chris Ferguson completed back in 2007, in which Jesus turned nothing into $10,000 by starting […]

Banker and Investor Andy Beal Joins Donald Trump Economic Advisory Team

Banker and Investor Andy Beal Joins Donald Trump Economic Advisory Team

Jon Sofen - August 8th, 2016

High stakes poker player Andy Beal wants to make America great again. The businessman was selected by Republican presidential nominee Donald Trump to join his economic advisory team. According to Forbes, Beal is worth more than $7 billion. That’s about $3 billion shy of what Trump claims to be worth. Of course, The Donald’s wealth […]

New York DFS Bill Passes as Governor Andrew Cuomo Signs it into Law

New York DFS Bill Passes as Governor Andrew Cuomo Signs it into Law

Jon Sofen - August 4th, 2016

A New York DFS bill has passed after a lengthy battle between supporters and lawmakers who oppose gambling. Governor Andrew Cuomo had the final say. He signed the bill into law making daily fantasy sports games legal in the state. Cuomo’s acceptance of the bill brings an end to a months-long feud. When Attorney General […]

PokerTribe.com Misses Real Money Launch Date

PokerTribe.com Misses Real Money Launch Date

Daniel Smyth - August 2nd, 2016

Oklahoma poker site PokerTribe.com has had to delay the launch of its real money site after failing to negotiate deals with offshore markets. Back in May the Iowa Tribe of Oklahoma launched PokerTribe.com as a free play poker site for international players. Despite the lack of online poker regulation in Oklahoma, the Iowa Tribe found […]

Nevada Poker Rooms Make Big Money Comeback as June Revenues Surge Once More

Nevada Poker Rooms Make Big Money Comeback as June Revenues Surge Once More

Jon Sofen - August 2nd, 2016

The Nevada poker industry had a strong month in its busiest month of the year: June. In total, the 65 poker rooms in the Silver State combined to generate more than $16,137,000 of revenue during that summer month. The last time the state raked in that much revenue from poker was back in 2009. And […]

Online Poker Players See Six-Figure Wins and Losses for July

Online Poker Players See Six-Figure Wins and Losses for July

Jon Sofen - August 1st, 2016

Online poker high stakes cash game tables saw some big winners and losers at the online poker. And the overall biggest loser was no newbie to the ups and downs of poker. Ilari “Ilari FIN” Sahamies dropped and lost more than $104,000 on PokerStars last month, more than any other online poker cash game player […]

Bitcoin Is Not Real Money, According To Florida Court Ruling

Bitcoin Is Not Real Money, According To Florida Court Ruling

Philip Conneller - July 27th, 2016

A judge in Miami ruled this week that Bitcoin is not “real money,” dismissing a case against a man accused of laundering $1,500-worth of the digital currency which he believed was to be used for criminal activity. Michael Espinoza transferred the Bitcoin to undercover agents posing as criminals, who said they intended to use the […]

888 Holdings and Rank Group Look to Snag Bookmaking Giant William Hill

888 Holdings and Rank Group Look to Snag Bookmaking Giant William Hill

Philip Conneller - July 26th, 2016

888 Holdings has teamed up with the Rank Group to launch a surprise bid for bookmaking giant William Hill. The two companies have chosen to strike while the iron is hot; William Hill has been left vulnerable after the ousting of its CEO, James Henderson by the board last week, apparently for his failure to improve […]

PokerStars New Jersey Posts So-So First Quarter

PokerStars New Jersey Posts So-So First Quarter

Jon Sofen - July 26th, 2016

PokerStars New Jersey has officially wrapped up its first quarter, and the results are good and bad. The world’s most popular online poker site re-entered the United States market in late March for the first time since April 2011, but only in New Jersey. Since then, the company has been an industry leader in the […]