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Tuesday, November 8, 2011 : But it may take 12 to 14 months to implement any law liberating the internet poker market
The Boston-based chief of US land gambling giant Caesars Entertainment, Gary Loveman, remains optimistic about the chances of legalised online poker in the United States, again expressing confidence in the prospect at a company results briefing Tuesday.

Loveman's company posted a 12.8 percent increase in profits following cost cuts, efficiency initiatives and organisational restructuring.
During the briefing Loveman joked that the World Series of Poker currently drawing to a close in Las Vegas had this year delivered a prize pool $10 million dollars greater than the entire payroll for the New York Yankees, and voiced his optimism on the prospects for internet poker legalisation at federal level, conservatively estimating that the American market was capable of delivering initial revenues of around $5 billion a year.
However, he pointed out, once legalisation had been achieved, it would probably take another 12 to 14 months for Caesars to become fully operational in an internet sense.
Referring to recent interest in the online poker sector by other US gambling corporates like Boyd Gaming, MGM and Fertitta Interactive, Loveman said that he was pleased that other land gambling corporates had seen the value in legalisation and were actively looking at the possibilities.
Caesars is among the early movers in the sector and is already involved in European online gambling ventures with that have been given the blessing of the Nevada Gaming Control Board.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

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Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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