Issue 247
June 6 - June 12, 2005
Volume 5
page 2
 

24hBet Becomes 24hPoker: Swedish Gaming Giant Starts 11 New Sites in 8 Countries
As Reported by Yahoo! Finance

STOCKHOLM, Sweden - Eleven new gaming sites were recently launched within the company's network, 24hNetwork. The new sites are marketed by local partners who use 24hPoker's software for poker and sport betting on the Internet. The sites are targeting players in Russia, Asia, South Europe, Great Britain and the Nordic countries. Until recently 24hPoker AB used the name 24hBET AB.

With the newly launched sites 24hPoker have a network of 30 partners with gaming sites using 24hNetwork's full service solution. It also includes, apart from gaming software, customer support, payment systems, web hosting and game licenses. The new partners can therefore concentrate on recruiting new players to their sites. With subsidiaries, 24hPoker also runs its own gaming site 24hpoker.com for poker, casino games and sports betting.

"Our own site, 24hpoker.com, is primarily targeting players in the Scandinavian countries. Thanks to the fact that our partners, with their local knowledge can market their own sites through our network, we can quickly establish a presence on other markets," says Per Hildebrand, CEO at 24hPoker AB as well as one of Sweden's most successful poker players.

The name change from 24hBet to 24hPoker emphasizes that poker is the company's main focus. The goal is to become a leading one-stop-shop for players while keeping focus on poker as the primary product.

24hPoker AB had a gaming surplus of 2.8 million Euro during the financial year's first nine months (May 2004 to January 2005). The company is planning an introduction on the Stockholm Stock Exchange during 2006.

24hPoker AB is a Swedish owned company within the gaming industry. The company delivers software for on-line-games and full service solutions for new actors who wish to enter the gaming market quickly. Through subsidiaries 24hPoker also runs its own gaming site. 24hPoker AB owns 74.6 percent of B2B Poker AB which operates one of Europe's leading poker networks. For more information see 24hpoker.se.

The new gaming sites within 24hNetwork are:
asianapoker.com, dreamlandpoker.ru, goplay.ru, pokerium.com, heypoker.com, 727poker.com, rivalpoker.com, capbet.com, 66poker.com, tipexpoker.com, pokerclubeurope.com



 

 

 

MGM Mirage's project in Macau under way
As Reported by the Las Vegas Review-Journal

MACAU - MGM Mirage became the third Las Vegas-based casino operator to begin construction of a gambling complex in Macau when the company broke ground today on a 600-room hotel-casino in the Chinese gaming enclave. "Macau may be a small place, but it always thinks big," Terry Lanni, chairman and CEO of MGM Mirage, said Tuesday. "This is a fascinating part of the world, and we're very happy we are entering this dynamic new market and playing a role in this, yet another turning point in Macau's rich history. " The $975 million MGM Grand Macau will be located on a waterfront site, which the company has called as the city-state's future casino Strip. The groundbreaking took place around 8 p.m. Tuesday, Las Vegas time, which was 1 p.m. Wednesday in China. The MGM Mirage property is near the Lisboa hotel-casino and an under construction gambling house being built by Wynn Resorts Ltd. MGM Grand Macau will be jointly owned and operated by MGM Mirage and Chinese businesswoman Pansy Ho Chiu-king. In April, MGM Mirage said the joint venture partnership had been granted a subconcession by the government of Macau that allowed development and operation of a hotel and casino complex. The resort will include several restaurants and entertainment facilities and a casino with space for 300 table games and 1,000 slot machines.

Failed Laughlin casino deal sparks complaints
As reported by the Las Vegas Review-Journal

LAS VEGAS, Nevada- Poster Financial Group and Barrick Gaming Corp. have filed competing complaints in Clark County District Court over a $1 million deposit left in limbo after a deal to sell the Golden Nugget Laughlin collapsed this week.

Barrick, owner of several downtown casinos, agreed in November to pay Poster Financial $31 million for the 300-room, tropical-themed hotel-casino on the Colorado River, but the contract expired Tuesday.

Barrick filed a complaint in District Court the same day, seeking to reclaim its $1 million deposit on the casino.Meanwhile, Poster Financial, which also owns the Golden Nugget Las Vegas but agreed in February to sell the property to Houston-based Landry's Restaurants for $295 million in cash and debt assumptions, filed a competing complaint Wednesday seeking to keep the $1 million deposit.

Landry's, which is entering the gaming business through its purchase of the 1,800-room downtown casino, will acquire the Laughlin casino as well without having to put up any additional money since the Barrick transaction fell through.

"We worked in good faith with Barrick and its advisers to enter into a purchase and sale agreement," Poster Financial Chairman Tim Poster said in a statement. "It is unfortunate that the transaction will not close, but more troubling is the assertion that Barrick's failure to close was caused by the performance of the Golden Nugget Laughlin or the actions of Poster Financial Group."

Barrick Gaming President Stephen Crystal had said that the purchase agreement was terminated because Poster Financial had breached certain provisions in the contract.

"Factually, this is without merit and it is disappointing to me, because it is disrespectful to those individuals who have operated the Golden Nugget Laughlin," Poster said.

Crystal declined comment Wednesday, saying the matter will be decided in the court.Landry's expects to complete its purchase of the Golden Nugget casinos by year's end

George Benson

Golden Nugget : Grammy Award winner George Benson will swoon the crowd as he performs his contemporary jazz and R&B hits in the Theatre Ballroom.

Date: June 10-11

Time: 9:00 pm

For more information please call:1-866-946-5336
 
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