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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."
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The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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