Mr. I. Nelson Rose

GLG News by Mr. I. Nelson Rose, Distinguished Senior Professor

GLG News is now G+ Insights

G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.

Poker Indictments - Winners and Losers

April 28, 2011

The indictment of the three biggest online poker operators has already created winners and losers. Media companies like ESPN, were hurt. But there is growing interest in legal alternatives, like PurePlay.com and Atlantis Internet Group (ATIG). Poker sites that don't take bets from the U.S., like Playtech and Bwin.party have seen a surge of players. But landbased operators have seen increases too small to be important for MGM, Las Vegas Sands Corp., Wynn Resorts and Penn National Gaming.

Amnesty for Internet Gambling Companies?

March 28, 2011

Good news for Internet gambling operators: Nevada approved Caesars Entertainment-888 partnership. So others, like Party Gaming - Bwin, can come back. But Wynn Resorts announced it will work with PokerStars. Sites taking US bets have better name recognition. MGM, Las Vegas Sands Corp., Lakes Entertainment and Penn National Gaming are preoccupied. But Peninsula Gaming, Foxwoods - Goodson Gaming, Cake Poker - Atlantis , and Scientific Games - Playtech (Sciplay) are getting ready to jump in.

Nevada Board Approves Caesars-888 Deal

March 16, 2011

The Nevada Gaming Control Board has approved a partnership between Caesars Entertainment and 888 Holdings. This does not mean that true Internet gambling is coming to Nevada, at least not yet. But the approval means casino regulators have accepted an operator that used to take bets from the U.S. It also points to which states and companies will win the race to be America’s first licensed online poker operators: Caesars or PartyGaming - bwin Interactive Entertainment.

Gov. Christie Vetoes N.J. Internet Gambling

March 14, 2011

Governor Chris Christie gave legitimate reasons for vetoing the intrastate Internet gaming bill. But the real reason was political. As a Republican, Christie has to both balance the budget and be socially conservative. So he will help put it on the ballot. If NJ voters approve, it's not his fault. And the real winners will be the licensed casinos of Atlantic City, which desperately need ways to compete and expand their business.

UIGEA Regs will take effect June 1st

March 30, 2010

Banks and other payment processors were originally given until December 1, 2009, to implement regulations under the Unlawful Internet Gambling Enforcement Act. Congressional leaders asked for a one year delay; they got six months. Reid and Geithner have given into political extortion from Sen. Jon Kyl, pledging no further delays. The good news is that this is only going to cost banks a lot of money. The regulations don’t actually do anything, except make work for gaming lawyers.

Frightening Developments in Macau

March 29, 2010

Analysis of:High - Rollers, Triads And A Las Vegas Giant | www.nytimes.com

Reuters is reporting a murder-for-hire case linking the Macau Sands with organized crime triads. Macau and the companies associated with its casinos -- MGM Mirage, Wynn Resorts, Las Vegas Sands, Galaxy Entertainment, Melco Crown Entertainment, SJM Holdings; and even Hard Rock, Hyatt Regency, Four Seasons and Mandarin Oriental -- won't do much about this news. But Nevada and other U.S. state regulators will now have to take another look to see whether licenses will be pulled.

Casino Lobby Now Pro-Internet Gaming

March 24, 2010

Frank Fahrenkopf, head of the American Gaming Association, has announced that the leading casino lobbying group has officially shifted its position. Being in favor of legalizing Internet Gambling is important, because the Majority Leader of the U.S. Senate, Harry Reid from Nevada, is facing an extremely tough reelection bid in November. This greatly increases the chances a bill will be passed this year, which would have a major impact on companies like IGT, PartyGaming and Harrah's.

Great News for Slot Manufacturers, If Legislature Agrees

August 31, 2009

Analysis of:Home Meet Governor Crist | www.flgov.com

Gov. Crist had until 11:59 pm tonight to reach a new agreement with the Seminoles. He did, giving them unlimited slot machines in seven locations. But it also gives them blackjack and other table games in all seven casinos, which the Legislature had limited to two counties. Therefore, the new Compact is just as invalid as the last one he signed, unless the Legislature signs off on this one, to get the billions of dollars of new revenue.

Macau’s Uncertain Future

August 10, 2009

Analysis of:RPT-Q+A-What does illness of gaming king Ho mean for Macau? | www.reuters.com

Macau's government's cap on junket commissions came just in time. Keeping high-roller baccarat profits with casino operators is very good news for Macau’s casino concessionaires and their many partners. The deal was brokered by 87-year-old Stanley Ho, now in intensive care after brain surgery. If Ho does not recover completely, fights for succession could break out. Instability in China is never a good thing for outsiders trying to do business there, and may directly impact American casino

Good News for Harrahs, Possible Break-Through for PartyGaming

August 7, 2009

Analysis of:Senator Menendez Online Poker Bill Barney Frank on Steroids | www.gambling911.com

A companion bill to Barney Franks' in the House, by Robert Menendez in the Senate, greatly increases the chance Internet poker will be made legal next year. Both bills favor land-based gaming companies getting into the act. But they differ on whether gaming will be limited to poker, and whether operators like PartyPoker, which pulled out of the U.S. market after the passage of the UIGEA in 2006, will be allowed back in.

Companies Gearing Up for Intra-State Poker Will Dominate Internet Gambling

April 27, 2009

Analysis of:Calif. Poker Bill Unveiled | igamingnews.com

Harrah's is rumored to have hired Mitch Garber, former CEO of PartyGaming (PYGFM), to head its World Series of Poker and online gaming operations.  PYGFM itself settled with the federal Department of Justice, and is looking to now get back into the U.S.  Rep. Barney Frank had to delay repealing the UIGEA, but the states are moving ahead with intra-state gambling, particularly poker in California.  And the operators who get in on the ground floor will be in the best postion to control the entire U.S. market.

Kerkorian and Icahn -- Bluffing for MGM's Billions

April 20, 2009

Analysis of:Icahn Takes On Kerkorian in Big Las Vegas Showdown | online.wsj.com

The histories of the major players in the current MGM financial crisis reveal their goals:  Icahn is again acting like a raider; Oaktree is doing percentage calculations on long-term debt; Bank of America (BAC) wants to survive and make at least some profit; and Dubai World is in way over its head.  Kerkorian is the experienced poker player, able to bluff out novices like Dubai World and BAC, and maybe even Icahn.  But his cards have to improve quickly, mainly by selling assets, or he will have to declare bankruptcy.

PartyGaming's (PYGMF) Settlement Helps Internet Gambling

April 7, 2009

Analysis of:PartyGaming Plays Nice With U.S. | www.forbes.com

The settlement will mean more "dot net" advertising by all online gaming companies.  PartyGaming believes it bought the right to eventually bring PartyPoker back to the U.S.  It also made it easier to make acquisitions and joint ventures.  It pushes other online gaming companies to make similar settlements.

Kansas Bids Show Some Casinos Feel We've Bottomed Out

April 6, 2009

Analysis of:INSIDE GAMING: Maybe Kansas can, for casinos | www.lvrj.com

Some of the richest and smartest casino companies are bidding once again to operate casinos in Kansas.  This is a sign that the economic recession is coming off the bottom, and the smart money wants to be in on the recovery and expansion of the gaming industry.

Mississippi helps those casino companies that will survive

March 20, 2009

Analysis of:Casinos get tax incentives | www.sunherald.com

Mississippi will let gaming companies have same tax rebate as other developers.  But few are now in position to expand.  Those that survive will be able to build hotels and golf courses to better compete against their regional competitors.  And the vote shows even the "anti's" now understand how important the industry is.

Cash is king as reality hits MGM

March 16, 2009

Analysis of:MGM Mirage Facing Breakup | online.wsj.com

MGM Mirage (MGM) has to sell to keep out of bankruptcy.  The winners will be companies that already have their gaming licenses and have cash or credit to pick up prime casinos cheap, including Wynn (WYNN) and Penn National Gaming (PENN) in the U.S. and Pansy Ho in Macau.

PENN Betting on Ohio Casinos

March 12, 2009

Analysis of:Ohio Jobs and Growth Plan | www.casinocompendium.com

Penn National Gaming (PENN) is one of the few gaming companies with a pile of cash.  After spending millions to defeat a proporsal for casinos in Ohio in last year's election, it has now switched sides.   It will probably lose, but it won't cost that much money, and the potential return on investment is enormous.

Maryland's Greed Helps Its Competitors

February 9, 2009

Analysis of:Miller calls slots bid "unacceptable" | www.hometownannapolis.com

Asking operators to put up millions of dollars for the right to operate slot machines with a 67% tax rate might have worked, if Maryland had a monopoly and we weren't in a worldwide recession.  Right now, the state's horseracing industry, is in a struggle to survive.  Magna Entertainment (MECA) wouldn't even put up the $28.5 million required to apply for a license.  This is good news for the casinos and tracks in Atlantic City, Pennsylvania and Delaware.

Phone Bets Not a Major Threat to A.C. Casinos

December 28, 2008

Analysis of:Horse Race Betting on Phones OK With Wire Act, Online Casinos No? | www.onlinecasinoadvisory.com

New Jersey's decision to allow mobile phone betting with N.J. racetracks will not have a major impact on Atlantic City casinos.  Twenty other states allow Advance Deposit Wagering on races.  Everyone agrees this is legal intra-state, and also agrees that it has to be limited to bets on races, not Internet casinos.

More important than the new A.G. is Democrats' victory in Congress

December 28, 2008

Analysis of:New US Attorney General Not Good For Gambling | www.recentpoker.com

President Obama will have the final word and will look to his new A.G. for guidance on Internet gaming.  But Harry Reid, from Nevada, will be an even more powerful Majority Leader of the Senate, and Barney Frank a more powerful voice in the House.  And they can agree to keep online sports betting illegal.

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