May 24, 2014, 3:39 PM
- Revenue from online gaming continues to disappoint in New Jersey. The Internet win for April for major players Borgata (BYD, MGM), Caesars Interactive (CZR), Trump, and Golden Nugget came in at $11.4M - less than $11.8M brought in during March. Original forecasts called for a take of over $30M a month in 2014.
- Easy access to illegal online gambling operators is thought to be reducing customer traffic. As a result, gaming companies are having a tough time capturing their investments as quickly as anticipated and are turning conservative.
- Boyd Gaming says it will cut advertising after recording a $3.2M loss from its Internet gaming business in Q1, while 888 Holdings (EIHDF) is shifting ad dollars to slots.
- The total gaming win in New Jersey (online and brick-and-mortar casinos) through April is down 1.2% to $874M. (Full report .pdf)
- The impact on brick-and-mortar casino traffic from legalized online gaming has been negligible so far in Nevada as well.
- Related: Online casinos face a hurdle from within the industry
- Casino stocks: TPCA, PNK, PENN, LVS, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
May 21, 2014, 12:07 PM
- The American Gaming Association has dropped support for legalizing online gambling after seeing some major divisions between members on how a roll-out should progress.
- Casino heavyweights have bickered over what the regulatory framework should be for the industry.
- Though the launch of online gambling in Nevada, New Jersey, and Delaware hasn't gone as well as expected with offshore operators still dominating, Morgan Stanley forecasted the legal online gambling market could reach $8B a year by 2020.
- Related stocks: TPCA, PNK, CZR, PENN, LVS, BYD, WYNN, MGM, MCRI, ISLE, CNTY, IGT, BYI, PTEK, MGAM
- Related ETFs: BJK
Apr. 30, 2014, 7:13 AM| Apr. 30, 2014, 7:13 AM
Mar. 12, 2014, 9:17 AM
- PokerTek (PTEK): Q4 EPS of -$0.07.
- Revenue of $5.5M (+7.1% Y/Y).
Jan. 24, 2014, 12:47 PM
Nov. 7, 2013, 9:41 AM
- PokerTek (PTEK): Q3 EPS of -$0.03.
- Revenue of $1.14M (+2.6% Y/Y). (PR)
Aug. 16, 2013, 12:45 PM
Jul. 2, 2013, 12:45 PM
Mar. 26, 2013, 12:54 PM
Feb. 22, 2013, 9:40 AM
Casino stocks (BJK) show mild gains after Nevada approves a bill to institute online gambling. Though a positive for Vegas-centric companies and a negative for Jersey-centric players, until the parameters of online gambling are better defined it will be hard to separate the winners from the losers.| Feb. 22, 2013, 9:40 AM
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Dec. 19, 2012, 12:45 PM
Nov. 27, 2012, 3:21 PMSenator Harry Reid gives a little buzzkill to the idea a brewing bill to legalize online poker will ever pass muster with the Senate to create a booming coast-to-coast industry. The Internet Poker Bill (history, text) lacks the support of Republicans, according to the Nevada lawmaker. | Nov. 27, 2012, 3:21 PM | 6 Comments
Nov. 19, 2012, 12:59 PM
A plan by Senator Harry Reid to limit online gambling to poker, horse racing, and lottery tickets is given a fighting chance to make it through Congress after Mitt Romney failed to win the Presidency. Before any federal framework is in place, Nevada will allow intrastate online poker play in a "proof-of-concept" demo on how states can regulate the activity. Gaming execs remain divided on the issue with proponents expecting brick-and-mortar casinos to realize big benefits from the speed of play and wider audiences online poker offers, while naysers see less liquidity in a game where it's rather easy for all the big fish (pros) to devour the small fish.| Nov. 19, 2012, 12:59 PM | 12 Comments