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38 PERCENT FIRST QUARTER LOSS FOR ATLANTIC CITY CASINOS
Atlantic City's 11 land casinos have reported first-quarter gross operating profits down 38 percent on the same period in 2008, an Associated Press report reveals. The decline will not surprise industry observers, who have been tracking monthly declines since the year commenced.
The casinos earned $151.2 million in the first three months of 2009, compared with $243.8 million in the same period last year. Net revenues fell 16.2 percent to $925.2 million over the period.
The Borgata Hotel Casino & Spa led the city with gross operating profit of $47 million for the quarter, but that was still 16.6 percent below the first quarter of 2008.
Atlantic City is in the third year of a revenue decline that began when slots parlours started opening in the Philadelphia and New York City suburbs, and has been exacerbated by the more recent economic recession.
Cryptologic 14 top games to be provided to Loto-Quebec -
02/08/2012 : The companies have signed a multi-year agreement that will see Cryptologic providing a portfolio of quality games to the Societe du jeu virtuel du Quebec, the online gaming division of the provincial state lottery corporation Loto-Quebec, known as Espacejeux.
Utah : Online Gambling : HB108 -
02/08/2012 : An intrastate attempt by Utah politician Stephen Sandstrom to introduce state legislation banning any legalisation of internet gambling has failed at the start gate.
MORE U.S. DISCUSSION ON INTERNET GAMBLING DUE THIS WEEK -
02/08/2012 : Interest in online gambling in the United States is set to continue on Thursday this week when the US Senate Committee on Indian Affairs meets to hear the views of a wide cross section of interested parties on the possible impact of legalised internet gambling on tribal gaming.
Judge wont dismiss DoJ Black Friday charges -
02/08/2012 : Former Utah banker John Campos and e-processor Chad Elie, who face charges relating to the payment processing of online poker transactions, suffered a setback Tuesday when a Manhattan judge refused to allow their motion for dismissal of Black Friday indictments against them.
ANOTHER MAJOR INTERNET GAMBLING BUST IN MALAYSIA -
02/08/2012 : Police units in Malaysia raided a series of premises in a week long anti-online gambling operation, seizing 225 computers and detaining 47 men, according to reports from the Bernama news agency. All of the detained men were later released on bail.
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