Gambling Business Winners and Losers in 2015: Who Banked and Who Tanked

Gambling Business Winners and Losers in 2015: Who Banked and Who Tanked

Gambling business winners and losers in 2015 went from sea to sea that is shining America

Gambling business in 2015 was getting ultimately more complicated all the time.

Every video gaming procedure, whether land-based or virtual, seemed to be bogged straight down in litigation of some kind this year.

In it this year whether it was New Jersey’s push to open the sportsbooks, daily fantasy sports’ hopes to be regulated, or even California’s seemingly never-ending journey to finally legalize online poker, the law had its hand.

That being said, some entities fared much better than others this 12 months. Let us have a look, starting with the good news, and who came out on top for 2015, and who got dunked.

The Big Champions

Paypal

Oh, look: it’s our old friend PayPal, back in the US once again to remind us we need to update the banking info on that account we opened in the late 1990s!

The online payment processor quietly decided this year it was once again willing to roll the dice in the face of US federal gaming laws that are still about as gray as a $5,000 chip at the Bellagio after a 12-year absence in America.

The digital payment service flipped out when regulators began looking closely at whether the company was violating federal anti-gambling laws in 2002, four years after PayPal was founded and customers began using the payment processor to fund their online gambling accounts.

In 2003, PayPal merged with e Continue reading “Gambling Business Winners and Losers in 2015: Who Banked and Who Tanked”

Caesars States Mixed Third Quarter Results, WSOP TV Ratings Also Mixed

Caesars States Mixed Third Quarter Results, WSOP TV Ratings Also Mixed

World Series of Poker champ Joe McKeehen had a $7.68 million payday this week, the WSOP also helping the third-quarter financials for Caesars.

Caesars Acquisition Company (CAC), the investment arm in Caesars Growth Partners (CGP), released its third quarter revenues for 2015 and the results are mixed.

The moms and dad business to Caesars Interactive Entertainment, the World number of Poker and a few casinos Planet that is including Hollywood Harrah’s New Orleans, plus the Horseshoe Baltimore, CAC reported total new profits jumped to $601.2 million into the three months ended September 30, an increase of nearly 24 percent.

Not most of the news ended up being positive, CAC also revealing that its income that is net from operations ended up being simply $20.5 million, a 71 per cent drop year-on-year.

Caesars Acquisition’s CEO Mitch Garber had no qualms rotating the negatives into positives, saying their organization remains ‘encouraged by the strong performance of our assets.’

Interactive Stays Active

The highlight of Q3 filing by CAC was once again its Caesars Interactive Entertainment (CIE) arm, the division reporting $194.5 million in net revenues, a 20.4 percent yield compared to Q3 2014.

CIE is responsible for the WSOP brand name along with Caesars Palace Las Vegas and many gaming that is social including Bingo Blitz, Slotomania, and Caesars Bingo.

‘Our Interactive Entertainment business continues to bui Continue reading “Caesars States Mixed Third Quarter Results, WSOP TV Ratings Also Mixed”