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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 :

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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Huge Caribbean Hold’Em hit at Bovada Casino - A progressive jackpot strikes again! This time it was at Bovada Casino, where a Texas player landed the top hand playing Caribbean Hold’Em over the weekend. A grand total of $119,348 was collected from the poker-inspired table game.

Halloween Slot Deal For Microgaming - He’s coming back! Microgaming signs licensing deal for horror classic Halloween

New PartyPoker Pro Richard Dubini - A regular player in the Latin American live circuit, Dubini will travel alongside partypoker ambassador Joao Simao to gain feedback from players about partypoker to help optimise both live and online poker for the local players.

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$65k Hit on Bitstarz Slot - Bewitching payout of $64,818 was scooped up by a fearless BitStarz player as he played the popular slot Hansel & Gretel: Witch Hunters, based on the movie with the same name!

Microgaming Launches 3 New Games for July 2017 - Microgaming’s new additions will treat players to sweet rewards and captivating stunts, and transport them to magnificent castles this July!

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