Economic Recession strips Vegas off its glitter
Casino industry has been hit hard by US economic recession. Vegas casinos are feeling the heat. Analysts have predicted a dull summer for Casinos present in Vegas this year. Businesses all over America are witnessing a sharp downturn. Consequences are following. Falling profits of corporate has led to rampant job curtailment. This again led to decrease in disposable money for common Americans. Thus, the casino enthusiasts who used to rush to several land based and online casinos stopped or lessened betting.
Las Vegas, known as the Mecca of Casinos and glitter, is therefore losing customers like anything. Subsequently the profits of these casinos have fallen drastically. Some have accrued so much that many of them went bankrupt and are thus now seeking the backup of bankruptcy laws. Experts have also predicted that major casinos in Las Vegas may be forced to shelve their expansion or developmental plans.
Stock prices of major casino companies are also coming down. Boyd Gaming Corporation is one such example whose stock price has fallen to USD12 from USD52 on a year-on-year basis. Stock of MGM Mirage, a major casino giant, has also seen depreciation in its price. It is now hovering around USD35 which was USD98 a year earlier.
So, the Vegas casino has lost its sheen and is witnessing a tough period financially.
Paramount Movies is now with Cryptologic
Paramount Movies, the Hollywood production giant, has struck a licensing deal with Cryptologic. Some popular movies under the belt of Paramount Movies are Braveheart, Beowulf, Forrest Gump, Ghost and many more. It may happen one day that while searching for Slots game you may stumble upon a game which is inspired any of the above mentioned classics. Experts and analysts are quite upbeat about this deal as it may change the entire concept of gambling games in the near future. Coming together of Cryptologic and the Hollywood behemoth is thus very significant for gaming industry as a whole.
In the past it has been seen that Cryptologic had tied up with a renowned comics company called Marvel Comics. It did so to use the theme of the comics to start a new Slots game. Hulk and Spiderman Slot games are highly popular among gaming enthusiasts. Launch of these games have been materialized through the deal between the comic company and Crytologic.
Thus, the current deal between Cryptologic and Paramount Movies is being though to have opened new arenas to venture for casino games.
PartyGaming Fined After Caught on the Wrong foot by Uncle Sam
Partygaming has been fined by the USAO for violating online gambling laws of USA. Fine amount has been settled to USD105 million. Settlement has been reached on 7th April of this year. In fact, PartyGaming has confessed that it had facilitated American players to bet their money through them, which is not allowed by US Online Gambling Laws.
Jim Ryan, the CEO of PartyGaming, expected such a settlement and are more or less happy with the outcome. This news has given a boost to the stock prices of PartyGaming in London Stock Exchange. After the news tricked down, its stock price increased by almost 16%. According to the settlement it has been agreed that the founder member of this Casino, Anurag Dikshit, will have to pay a fine of USD300 million.
After this incident many voices can be heard for turning over UIGEA. Barney Frank is leading the way in this end.
World Series of Poker has almost arrived
World Series of Poker is only 70 days away from today. Poker enthusiasts will try their luck and show their skills to get the ultimate financial glory. March 19 is the day when millions of Poker players will be flocking to Valley centre of California as Harrahs Rincon will host the circuit event of WSOP. The grand tournament of World Series of Poker is being played for the last 38 years. Benny Binion is the founding father of WSOP. But the person is not at all a saint but have criminal records beside his name. During his youth he performed many activities including theft and weapon concealing. Charges of murder are also looming over his head. But all has become redundant through his poker love and starting of WSOP.
