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Fertitta Interactive Ready For NJ Online Gambling

Wednesday November 13 ,2013 : FERTITTA INTERACTIVE CONFIDENT ON NEW JERSEY LAUNCH
 
Subsidiary Ultimate Gaming and its partner, Trump Taj Mahal Associates LLC are good to go.
 
The third quarter reportage of Station Casinos, parent group of online gambling companies Fertitta Interactive and Ultimate Gaming, emphasises the impending launch of online gambling in New Jersey, assuring investors that Ultimate and its New Jersey partner Trump Taj Mahal Associates LLC are ready to go.
 
The report notes:
 
“Fertitta Interactive’s subsidiary, Ultimate Gaming, continues to make substantial progress towards its launch of full-scale online gaming in New Jersey.
 
"On November 8, 2013, Ultimate Gaming received a transactional waiver from the New Jersey Division of Gaming Enforcement, which will allow Ultimate Gaming and its partner, Trump Taj Mahal Associates LLC, to begin accepting real money online wagers in New Jersey later this month subject to final regulatory approval."
 
C.F.O. Marc Falcone said on Tuesday: “The interactive team has been hard at work developing its platform in New Jersey and we look forward to offering a fun, convenient, and secure online gaming experience to the people of New Jersey.”
 
Overall, Station announced its tenth consecutive quarter of gains in adjusted EBITDAM for the quarter ended September 30, reporting the successful opening of its latest land operation, the $800 million Graton Resort and Casino.
 
The company achieved it highest third quarter net revenues, Adjusted EBITDAM and Adjusted EBITDAM margins since the third quarter of 2008.
 
Net Q3 revenues increased 3 percent to $304.7 million compared to last year’s third quarter. Adjusted EBITDAM, excluding Fertitta Interactive, was $80.3 million for the quarter, an increase of 12 percent from the same period of the prior year. Adjusted EBITDAM margin also continued to show strong improvement, increasing to 26.4 percent from a year ago.
 
Including the results of Fertitta Interactive, Adjusted EBITDAM for the quarter was $78.6 million, an increase of 11.5 percent from $70.5 million in the same period of the prior year, while Adjusted EBITDAM margin rose to 25.8 percent.
 
Year-to-date net revenues were $933.1, a 0.7 percent increase compared to the first nine months of 2012. Adjusted EBITDAM, excluding Fertitta Interactive, was $276.2 for the nine months, a $14.4 million or 5.5 percent increase compared to the prior year and Adjusted EBITDAM margin increased to 29.6 percent from a year ago.
 
Station reported an outstanding principal balance of long-term debt at $2.16 billion, excluding a non-recourse land loan of $110.3 million, and cash and cash equivalents were $123.5 million. The company has reduced its net leverage ratio by approximately 0.3x since December 31, 2012.

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Gambling News :

IS DAN BILZERIAN A POKER FISH? - Dan Bilzerian, the high profile Instagram legend, jet setting playboy and allegedly deadly online poker player who claims he accrued a $50 million fortune playing the game,

Vegas Crest online casino adds 30 new games - The Vegas Crest online casino has announced the addition of 30 new video slots to its games inventory from developers GameArt and Xplosive.

AMAYA C.F.O. RETIRES - Daniel Sebag, the Amaya online gambling group's first and only chief financial officer with ten years’ service under his belt, has retired, according to a company announcement Friday.

Is Sheldon Adelson in Favor of Trumo - With the inaugural presidential lunch coming to a close Friday afternoon, US Congressional reporter Paul Kane offered an interesting tweet, noting:

SD618 Massachusetts Online Gambling bill Updates - A few more details have emerged on Sen. Bruce Tarr's new online gambling legalization bill SD618 just filed in the Massachusetts Senate.

2017 $25,000 buy-in Aussie Millions Challenge event results - Taiwan poker pro James Chen has emerged victorious in the $25,000 buy-in Aussie Millions Challenge event after besting a field of 133 at the Crown in Melbourne.

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

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