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ONLINE GAMBLING A MARATHON, NOT A SPRINT

Tuesday, November 1, 2011 :  A quotable quote from one of several successful American businessmen keen on the internet poker market
 
Interest in the legalisation of US online poker continued unabated this week with an article by the respected Forbes magazine on how the business possibilities of internet poker have captured the imaginations of billionaire US businessmen.
 
The article identified some of these successful business executives, starting with US Digital Gaming's founder Richard Bronson, a former Mirage Resorts executive, who saw an opportunity to provide software and advertising services to gaming operators in the belief that regulated online gambling would ultimately evolve in the States.
 
Bronson found that rich and savvy billionaires were happy to invest in his new business, including real estate guru Steven Roth, shopping mall magnate Herbert Simon and wealthy heirs Robert and William Taubman.
 
“They are all in it for the long haul,” Bronson told Fortune, adding the quotable quote: “Not one of them thinks this will be a sprint, they think it will be a marathon.”
 
The piece discusses current legalisation initiatives and the market, concluding that first-mover advantage is being widely sought, building momentum for a regulated and licensed US industry.
 
It is well informed, covering the recent joint venture agreement to enter a US-legalised online poker market involving Donald Trump and billionaire hedge fund mogul Marc Lasry of the $12 billion Avenue Capital Group, and looking at some of the less successful attempts such as Steve Wynn's exit from a deal with Pokerstars earlier this year as a consequence of Black Friday.
 
Wynn has not revealed any replacement plans since the Black Friday disaster, but he has been outspoken in his support for legalised online poker in the US and will almost certainly have other options under consideration.
 
The Fertitta Interactive agreement signed last week with Cyberarts by Station Casino group billionaires Lorenzo and Frank Fertitta is also reported, along with their prior abortive attempt to get together with Full Tilt Poker which was torpedoed by the Black Friday indictments.
 
“Fertitta Interactive fully supports the federal regulation of online poker in the United States,” Lorenzo Fertitta said in a statement in October.
 
Back in 2008, the then Harrah's Entertainment (now Caesars Entertainment) was acquired by private equity firm Apollo Global Management, run by billionaires Leon Black, Joshua Harris and Marc Rowan, who joined with fellow billionaire David Bonderman's TPG in the $30 billion leveraged buyout.
 
"The deal has so far not been a good one," reports Fortune, adding that Black and Bonderman are still trying to make it work.
 
"The company, now called Caesars Entertainment, has been investing heavily in its online operations and backing a new Washington D.C. lobbying effort that includes former FBI Director Louis Freeh. If online gambling in the U.S. opens for business, it would certainly help Black and Bonderman, two investing legends, get out of a tough spot," the article concludes.
 
http://www.forbes.com/sites/nathanvardi/2011/10/31/the-billionaires-betting-on-internet-gambling/

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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