Fitch Ratings conducted a holistic review of Caesars Entertainment’s capital structure and described this casino’s overall growth and cash flow as way below par. Caesars “waning asset worth” and meagre “impending market cap” were described as disconcerting since the operator tried to lessen its overall debt by prolonging maturity dates and purchasing back segments of debt, in the hope of reviving its company’s revenues.  According to the report Caesars Entertainment’s deficit has increased from US$23bn from $25bn since its buyout in January 2008.

Pirc a reputable corporate governance consultancy firm based in the UK requested Sportingbet’s shareholders to veto the company’s compensation details and stop two non-executive directors from being re-elected again. Investors were notified to ask for the authorization of a £100,000 to be utilised as a political costs and to thwart Nigel Payne and Sean O’Connor from being re-elected as reported by the Independent newspaper.  Pirc is of the opinion …

The ICC (International Cricket Council) has reported that it is going to probe an Australian TAB gambling network said to have offered odds of twenty to one that the first ball of The Ashes first test of day five was going to be a called a wide.

This statement was released by the ICC big wigs and it indicates that one of the most prestigious test series (The Ashes) is no longer corruption proof.  The past couple of months have seen a number of match-fixing scandals hit news headlines but the Ashes have always been incident free.

The Ashes hailed by many as the greatest and oldest test series (played between Australia and England) in cricketing history has always been scandal free, these allegations might tarnish cricket’s most celebrated event.

The ICC stated its Anti-Corruption Unit always had a close knit working relationship with sports wagering agencies across the globe …

It’s evident that the U.S has no problem whatsoever to intercede and potentially impact on international trade laws. The Unlawful Internet Gambling Enforcement Act (UIGEA) of 2006 speaks for itself, its sole aim it to prohibit internet gambling in the U.S.

Of late the US is trying to regulate and reinstate internet gambling again in addition to land-based casinos. Senator Harry Reid has pushed for the legalization and control of internet gambling in the U.S in the hope that lawmakers would annul the UIGEA. Reid believes that billions of dollars of potential revenue is lost and it could be utilised for local infrastructure and various other modes of development in the country.

Unfortunately “The bill” will come with a hefty price tag.  Various countries within the European Union (EU) are attempting to regulate gambling online and to ensure that the necessary licenses are issued to various operators. This might not bode well …

There seems to be some discord amongst the House of Republicans. They are opposed and proclaim that certain members of the Senate wants to push for the legislation and taxation of online gambling before Congress ends in 2010.

Representatives Spencer Bachus, Dave Camp and Lamar Smith are all in favour of the legalization of gambling online. Once the Republicans take charge of the House in January, the Senate may promulgate regulations that might be imposed during the present lame-duck session.  “It endeavours to foster a federal right to wager which is unbeknown in the U.S’ standing history, it has the potential to create a new tax administration, however, one has to ponder the ramifications of legalizing gambling and force this issue out in the open and not in some shady back- room deals,” the lawmakers said in a Dec.

The legalization of online gambling is a “bone of contention” and has been relentlessly debated …

It looks like 250 staff members won’t be having a White Christmas and New Year celebrations since they’ve been retrenched by Trump Entertainment Resorts Inc. The reason for this is the company is busy restructuring and it hopes to increase its profit margins within the New Year again, said Bob Griffin new CEO of Trump Entertainment.

Griffin emphasised that it was a “necessary evil” to retrench 250 employees of which were executives and hourly staff members.  The reason for this could be ascribed to the fact that the company has been hit hard by the current recession that still grips a large portion of the U.S’ economy.  Staff members were retrenched at the following land-based casinos: Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino.

Griffin notified the local media that he sincerely hopes severe job cuts in the near future won’t be necessary again …

According to a survey conducted by an international organization Las Vegas ranks as the world’s fifth worst economy and chances of a revival are pretty bleak. The survey has been conducted by The Brookings Institution and London School of Economics study placed Las Vegas in fifth position from the bottom of 150 urban areas, it stated that Las Vegas’ economy is heavily dependable on tourism and huge development projects.

Only Dublin, Dubai, United Arab Emirates; Barcelona, Spain; and Thessaloniki, Greece are worse off than Las Vegas. Rankings have been based on the following criteria: employment, employment increase and profits.  From 1993 to 2007 Las Vegas was the world’s 14th best economy, based on a feasibility study that has been published by the Las Vegas Sun on Tuesday.

Las Vegas started sliding backwards as a result of the economical slump in 2008, it dropped to 128th position. The report goes further …

Operators and sports betting won’t help much to alleviate Atlantic City’s dwindling casino metropolis. In all probability it might even damage current gaming halls if drastic measures aren’t taken.

Moody’s Investors Service came to the conclusion that current initiatives won’t alleviate Atlantic City’s economical recession, since gambling profits would just line some executive’s pockets.”  The implementation of new legislation in New Jersey aims to revive the four year economic slump in this state by means of permitting internet casino gambling to be regulated.  In answer to Moody’s findings there are some experts that reckon Atlantic City must establish new reforms that will attract more tourists to its ailing casino industry again.

“There are always avenues for additional improvement,” said state Sen. Jim Whelan, D-Atlantic. “A new product is needed to boost Atlantic City’s entertainment and casino commerce immediately and we must start thinking out the box for once. It’s imperative …

Chairman and 50% shareholder in BetClic Everest Group, Stéphane Courbit has expressed his utter disappointment toward the French government. He criticized them for implementing the “nastiest” internet gambling legislation in Europe. He also said that the French government’s current tax bracket does not encourage fair business practises and that operators will try and find “loop holes” within the current French gaming system.

In his recent statement made toward the French national newspaper Le Figaro, he commented: “Initially it was an excellent choice by the president and his government to legalize and regulate internet gambling in France, however, current French law is not gambling conducive and could be regarded as the most awful in Europe. It’s difficult for us to function as a cohesive unit; since the taxation is sky high. Operators have very little autonomy and player conversions are very low.”

BetClic Everest Group’s foray into the French market started out …

A couple of years ago owners of brick-and-mortar establishments feared the revenue ramifications of internet casinos once legalized.

Given the current recession of the global economy, one can clearly see why gaming executives are exploring new avenues to broaden their player base.  The answer clearly lies in technology and this new technology is mobile gaming.

“The internet casino industry is being revamped at a prodigious pace yearly by new gaming platforms such as hand-held technology,” said Gene Johnson, an associate with Spectrum Gaming Group. “Mary Meeker, who is an Internet forecaster with Morgan Stanley, anticipates more players will have access to hand-held gambling devices within the foreseeable future.”

“Internet casino gambling is here to stay, it has forever changed the face of gambling as we know it,” said Frank Fahrenkopf, president and CEO of the American Gaming Association. “Internet gambling started out very small and today it’s a billion dollar …

It’s a given fact that the majority of casinos in the U.S have been impacted by the recession and the recent oil spillage in the Gulf of Mexico.

As any decent economist will tell you we live in uncertain times and it seems that your average American player has taken this advice to heart and decided to wager less at land-based and internet casinos for the time being.

“Gamblers won’t wager unless they have money,” said Joseph Weinert, who is the senior vice president of Linwood, a Spectrum Gaming Group whose Head Quarters is in New Jersey.  In the past there has been the mistaken belief that the U.S casino industry is recession “resistant”.  This is completely false, given the fact that when there was a complete slump in the U.S economy a couple of years ago, the casino industry tanked big time.”

Casino revenue for licensed casinos in Missippi totalled …