Monthly Archives: August 2016

Jennifer Tilly Happy to Embrace “Aging Starlet” Role in Poker

Jennifer Tilly might be an actress and poker player in a male-dominated world, but she wouldn’t have it any other way, according to a recent interview. For more than a decade, Tilly has been one of the leading personalities in the poker world, while still being an actress at heart. The almost 58-year-old actress, who claims […]

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New Jersey Poker Industry Rakes in $5 Million in July, Land Games Still Rule

The New Jersey poker industry raked in $5 million during the month of July. Brick-and-mortar games accounted for 60 percent of that money, and the online poker industry accounted for the rest. Compared to July 2015, there wasn’t any change. Zero industry growth from year-to-year might not make the state government happy. But no regression […]

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Phoenix Poker Club Raided, Owners Charged

Operators of an illegal poker club in Phoenix, AZ appeared in court this week to face charges including controlling a criminal enterprise and managing and financing gambling. Esho and Ashour Odisho are the owners of Poker Union, a card room raided by police last Thursday following a yearlong investigation that included the use of undercover […]

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500.com reported “zero” Q2 revenue

And investors’ worst fear comes to reality.

Chinese online sports lottery operator 500.com Ltd. has yet again failed to deliver revenue from its core product as the temporary suspension of it online lottery sales in China carries on during the second quarter of 2016.

In a disclosure to the New York Stock Exchange, 500.com reported that total purchase amount of sports lottery was nil, compared with nil for the first quarter of 2016, and nil for the second quarter of 2015. O

Net revenues of 500.com were RMB1.2 million (US$200,000), compared with RMB2.2 million (US$300,000) for the first quarter of 2016, and nil for the April-June period of 2015.

Mashpee Tribe jumps in the casino land legal fray

The Mashpee Wampanoag tribe has finally grown tired of watching how the US Interior Department their casino land case under the bus.

According to The Boston Globe, the Mashpee tribe has finally jumped in the legal fray over the 150-acre land dispute after US District Judge William G. Young declared in late July that the US Interior Department, which represents them, had misinterpreted a 1934 law governing what tribes are eligible for reservations.

Still reeling from their legal setback, the tribe asked court to allow them to represent themselves in the case since the US Interior Department “may not adequately represent the interest of the tribe.”

“The department’s interest is in the administration of federal lands of the United States for the public interest broadly and the implementation of federal Indian policy, not in the particular sovereign, economic, and personal interest of the tribe,” the tribe’s lawyers said in a 22-page petition, according to the news website.

As Goes Malta, So Goes Amaya

With former Amaya CEO officially stepping down from the company this week amid some truly inane Canadian insider trading charges wafting in the background, it is a good time to reassess Amaya shares. Baazov continues to be hounded by the Quebec authorities (read financial mafia) for allegedly sharing information about insider deals with his *gasp* family and friends. As if no CEO actively involved in some negotiation or other ever gave his relatives and friends an oblique stock tip, as in “Hey, look over my shoulder while I put in this huge order in for more stock of X in my brokerage account, which I casually told you over the dinner table that we were in discussions with about things I cannot disclose, wink wink.”

What a crime. Maybe the way it’s worded above is “legal”. Who really knows anyway.

Mainstream sites on Baazov’s latest move all quote good earnings this past quarter, with particularly impressive growth in the Sportsbook & Casino segment. This is true, but they all stop there. First the positive case for Amaya, and it can easily be made. First, the company is in discussions with a number of operators, including Baazov himself, for taking the company private again. This would of course involve a premium over the current market price. If it doesn’t happen it shouldn’t be too much of a downside because as it is now, the company is doing well.

The long term danger for the company is its debt load of $2.38 billion, almost all of which is due 5 years from now or longer. So there is no immediate debt danger on the horizon for them. But if interest rates start to rise, and they cannot get any lower than they already are, then we’ll start to see that rise discounted against Amaya’s market cap even though it shouldn’t affect its balance sheet directly all that much over the next 5 years.

2016 Rio Olympics: When Davids stun Olympic Goliaths

There is no shortage of stories of Davids in the 2016 Rio Olympics taking on their toughest and fearsome Goliaths. Who will ever forget the stunning defeat of multi-decorated U.S. Olympian Michael Phelps to a 21-year-old Singaporean Joseph Schooling in the 100m butterfly?

Schooling lived his dream of becoming an Olympian like Phelps to set a new Olympic record of 50.39sec in Rio on Friday and put his island country on the Olympic map by winning its first ever gold medal.

Female world number 1 Serena Williams suffered a double whammy in Rio’s tennis court after she was knocked out of the Olympics in the third round by Ukrainian Elina Svitolina, and was beaten in the doubles with sister, Venus in the first round – their first defeat in 16 Olympic matches together.

Still on tennis, Novak Djokovic — who won both the French and Australian Open this year — lost in the first round of both the men’s singles and doubles tournaments.