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Casino Stocks Rise Due To DOJ Statement

12/28/2011 : Stake holders begin to react to DOJ's quiet announcement
The surprise clarification delivered by the U.S. Department of Justice on its position on internet gambling late last week has sent share prices on some prominent gambling operators and suppliers on the up this week.
Scientific Games Corp is up a whopping 15.37 percent, Wynn Resorts rose 3.4 percent, International Game Technology up 4.95 percent, MGM Resorts International up 4.62 percent and Bally Technologies is up 1.57 percent on the back of the announcement.
Todd Ellers, an analyst at Roth Capital Research said: “We view the ruling as a significant event for the U.S. gaming and lottery industry that essentially opens the door for states to consider offering internet gaming and lottery products (ex sports wagering)…
“[W]e believe individual state lotteries and vendors like Scientific Games, Gtech, and Intralot will be the first to benefit from selling virtual lottery tickets online. In addition, casino operators with strong brands would also benefit from operating virtual casinos if authorized by enough states. Finally, traditional gaming suppliers like IGT, Bally Technologies, WMS Industries, Aristocrat and Konami should also benefit from providing game content and/or technology to host online casinos.”
The announcement has been met with mixed reactions from individual States with Utah lawmaker Representative Stephen Sandstrom, R-Orem coming out strongly against any form of internet gambling in the State saying it is a desperate Federal attempt at fixing an ailing economy directly attributed to Obama's failed fiscal policies.
Sandstrom will submit a bill that will make all online gambling in Utah illegal to the 2012 State Legislative Session.
On the other end of the scale, California has announced its intention of exploring an online lottery channel but would not consider online poker initially.
Massachusetts State Treasurer Steven Grossman will explore the State’s online options via a dedicated online gambling task force and the Illinois Lottery will waste no time planning on selling tickets over the internet by the end of March 2012.
"This is a perfect ... progression for any lottery because it's adapting to new consumer buying habits and new technologies," said Michael Jones, superintendent of the Illinois Lottery.
Illinois Senate President John Cullerton commented: "The idea is to have the lottery function like a modern business using modern technology.  In that regard, it's great to have the federal government's OK on this, and we now look forward to seeing some results."

Gambling News :

$700K worth of Power Series Mega Sats every week - These amazing Power Series Mega Sats hit the partypoker lobby on Sunday 25th March so log in, buy-in and see if you can win one of the near $700,000 worth of tickets on offer this week.

Pinnacle Goes Live With Microgaming Quickfire - Founded in 1998, Pinnacle is a respected industry leader, delivering sports betting, casino and educational betting-related content to customers worldwide.

PokerLion Joins Microgaming Poker Network - PokerLion roars into life on the MPNís Indian Poker Network. Microgaming welcomes PokerLion to the MPNís growing Indian Poker Network.

Danske Spil Bingo Moves to Microgaming - The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.

Quickfire live on Strendus - Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.

$2 Million Added to partypoker Guarantees - Almost $2 Million Added to Guarantees During First Ever Super Sunday

Quickfire content live on BetatHome - Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.

Microgaming has donated £30,000 between four charities - Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.

Entertainment Betting Odds: 90th Academy Awards - The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.

New era of poker in Baltics with The Kings of Tallinn - The Main Event at the festival has already attracted big names like Juha Helppi and Kimmo Kurko. These two are Finlandís all-time poker tournament winners.

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