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Poker firm begins trading

Poker firm begins trading By Tim Richardson For The Register Shares in 888 began trading this morning following the IPO of the online casino. The share price was set at 175p valuing the gambling operation at £590m ($1.04bn). At one stage in the run up to the float the company was estimated to be worth between £700 and £800m. However, the enthusiasm for internet gaming took a knock four weeks ago after PartyGaming, which floated for £4.6bn earlier this year, warned that online gambling would not continue its current rapid growth. As a result, its shares tumbles by around a third triggering a loss of investor confidence. In statement today 888 chief exec John Anderson said: "We have a clear strategy for creating sustainable shareholder value by becoming the market leader in the online gaming industry and continuing to provide our members with a comprehensive range of gaming activities in a secure and trusted environment." Which is nice.

Kyl’s 7th failure damages anti-gambling lobby

Kyl’s 7th failure damages anti-gambling lobby From eGaming Review Magazine Legislation outlawing online gambling has little chance of success following the failure of the latest attempt in the US Senate, according to two leading industry commentators. The US Senate rejected a proposed amendment to an Appropriations Bill last week that would have forced banks and credit card companies to block egaming transactions. It was the seventh time legislation proposed by Senator John Kyl has failed in the US, and analysts instantly reduced their appraisal of regulatory risk to egaming businesses with strong US custom. A research note by investment bank Cannacord Capital said the senate had shown “little appetite for anti-gaming legislation”. And David Carruthers, chief executive of BetonSports, said he felt the latest failure from Senator Kyl was reflective of a lack of interest in prohibitive legislation. “The failure of the Kyl bill is symptomatic of where we are in the debate,” Carruthers said. “I don’t think there is any traction to internet gaming legislation in the US,” he added. Bill White, chief executive of software firm Global Cyber GPS, told delegates at the Global Gaming Expo (G2E) in Las Vegas, a US egaming industry was on the way. “A legitimate, fully lawful Internet gambling industry is coming to the US, and soon,” White said. But Carruthers said he felt talk of regulated egaming in the US was still some way off. “I don’t think regulation is around the corner, we are at least five years away, but it is time to start having a serious debate.” Cannacord also added a note of caution to the positive assessments pointing out there is still the looming spectre of the World Trade Organisation (WTO) ruling. The US has to confirm by April 2006 if it plans to permit Antiguan egaming firms to offer services to US citizens or ban all forms of remote gambling in the US. “This Bill is likely to “confirm” or “clarify” as opposed to “authorizse” the US view of online gambling,” Cannacord said.

A tribute to Adam Anhang

A tribute to Adam Anhang from eGaming Review Magazine David Carruthers pays tribute to his friend Adam Anhang, chief executive of CasinoWebCam, who was killed on Friday. Adam Anhang, chief executive of software firm CasinoWebCam, was tragically killed last Friday. Anhang was the victim of a vicious attack, which has left his friends, family and colleagues devastated. Here David Carruthers, chief executive of sportsbook BetonSports and a close friend of Anhang, pays tribute to one of the most intelligent and well liked members of the egaming industry. This week our industry has lost a true leader and visionary to an untimely and tragic death. Adam Anhang contributed much to our industry. His creativity, commitment to excellence, and attention to detail benefited us all. His patient and laid-back personality gave him the industry reputation of being the kind of person who would work well with anyone he met. Anhang received his B.S. in Economics from the prestigious Wharton School of the University of Pennsylvania, where he often returned there to teach pro bono. After college he became extremely successful as a real estate developer and investor. One of his crowning achievements is the exclusive Vieques Martineau Bay Resort & Spa. In typical Adam style, the island has quickly become one of the trendiest vacation spots, not to mention one of the world’s most sought after investment locales. He began his career in the online gaming industry as the CFO of Dr Ho.com. However, Adam possessed the gift of being able to look at the status quo and find within it the potential of what could be. He advanced the online gaming industry through his live online gaming software, which brings the energy of the land based casino environment to users sitting at their home computers. He took this single concept and developed it from the embryonic stage into a viable and thriving organization, CWC Gaming, which currently powers over 15 licensees, including my own company, Bet on Sports plc (easy bets). Adam did exceptionally well in the industry and knew how to work well with all of us, from top-level executives to the associates right out of grad school. I will miss his counsel, I will miss our conversations about the industry, but most of all, I will miss his friendship.

Poker Terms - The Origin Of The Nuts

Poker Terms - The Origin Of The Nuts by Marc Weinberg for Online Poker Insider For a change of pace (instead of me whining about a bad beat or gloating over an improbable victory), I dedicate this column to a little poker etymology, namely discussing the origin of an interesting poker term, "the nuts". You hear it all the time playing poker, but where does "the nuts" derive from, and how did it come to mean the absolute best hand in a poker game? When you hold the nuts in poker you have an unbeatable hand. If a hold'em board shows Ad-Td-Jc-2c-3s and you hold the Qs-Kh then you my friend have the stone cold mortal nuts. This cool poker term dates way back to the Wild West where cowboys would gather round a table, preferably in a saloon but alternatively around a campfire, and play cards. Back then poker players would not always bet with cash or chips. It was a more rustic time, and men would often bet their horse and wagon on a poker hand. Legend has it that when a cowboy bet his wagon he would unscrew the nuts from his wagon wheels and place them in the pot. The reason behind this gesture was that in the event that he lost the pot he could not leap up, hop into his wagon and ride away with his wager. The fact that he was willing to put those nuts in the pot as surety for the strength of his hand resonated through the prairie, and came to be synonymous with the best hand. A cowboy would only bet "the nuts" when he was convinced that his hand was the best out there. Everyone knows that Wild Bill was gunned down while holding Aces and Eights, and that we now call it the dead man's hand. But who at your table knows the true origin of the nuts, other than you of course, pardner.

Al Ardebili Captures World Poker Tour Title at Borgata Poker Open

Al Ardebili Captures World Poker Tour Title at Borgata Poker Open Six players entered the Borgata Event Center last night, one left a champion. The marquee event of the 2005 Borgata Poker Open lived up to its hype and supplied spectators with some of the most intriguing poker play on the WPT to date. Jersey City's Al Ardebili captured the title and first-place prize of $1,498,650 after he beat Margate, N.J.'s Richard Festejo in the final hand. Both New Jersey natives won their buy-ins into the WPT finals via Borgata Super Satellite tournaments earlier this month, after participating in $300 and $1000 events respectively. Taking an enormous chance, Festejo risked his chip stack on a bluff with only a seven and eight of hearts and was quickly rebuffed when Ardebili called with his ace of hearts and nine of spades. Unfortunately for Festejo, who had started the final table with the shortest stack, neither the flop, turn, or river offered any help and Ardebili eliminated him with only ace high. Festejo earned $799,280 for finishing second. Kathy Liebert reached the highest spot for the ladies, finishing third and collecting a cool $427,115. She was joined in the money by fellow female standouts Evelyn Ng, who finished 11, and Clonie Gowen, who finished 31. Celebrities, poker stars, and local "home-game heros," all saw action on a level playing field at the 2005 Borgata Poker Open, as players came from all over the world for a chance at the WPT title. WPT announcer and star player in his own right, Mike Sexton, applauded Borgata and explained that the property has the key ingredients to make the perfect mix of atmosphere and great game play that has become the calling card of Borgata. "Borgata is the perfect fit for the WPT because a: it's a very classy and elegant casino property, b: it's the finest property in Atlantic City, and c: the WPT truly has the greatest venues in the game and it's only fitting that our East Coast stop here in Atlantic City is Borgata." With almost double the players of last year's series, the 2005 Borgata Poker Open broke attendance records and rewarded more money than previous Borgata Poker Open events. The WPT main event, featuring a prize pool of over $5 million, was the biggest tournament in Atlantic City's history. The series also featured a 500-player Ladies Only event. Next year's Borgata Poker Open will be held in the casino-hotel's expanded 85-table poker room, part of a $200 million expansion project which will provide guests more gaming space, dining options and entertainment experiences, expected to debut in spring of 2006.

Fairground attracted to online casinos

Fairground attracted to online casinos An investment company with links to software firm Microgaming will debut on the London Stock Exchange in October with the aim of acquiring a portfolio of online casino sites. Fairground will raise £3.6m on listing to fund the acquisition spree, which is believed to focus on buying a range of smaller Microgaming-powered casino sites. However, analysts said the company could find difficulty in today’s heated merger and acquisition (M&A) market, with vendor expectations running high. “The key problem in today’s market is the valuation gap between the expectations of the acquirer and those of the vendor,” Paul Leyland, leisure analyst at Seymour Pierce, said. The firm’s admission statement said it had been formed with the “specific purpose of taking advantage of expected consolidation within the online gaming sector”. Fairground stressed it had built a “close relationship with Microgaming”, and Greg Harris, a technology analyst at Cannacord Capital, said this was its key asset. Evan Hoff, its chief executive, was one of the founders of South African marketing firm Forwardslah, which provides back-office support to Microgaming’s largest casino operator Carmen Media. Hoff told the UK media it would be looking to acquire “relatively small operators”. But there is speculation in the market Fairground could be used as for a reverse merger with a larger online casino operator. Reverse mergers are effectively a fast-track listing for firms looking to avoid the lengthy admission process. Earlier this year the AIM-listed cash shell Leisure & Gaming merged with Curaçao-based VIP sports in a similar move.

Hands On - Your Fold-'Em-Or-Hold-'Em Guide To Poker

Hands On - Your Fold-'Em-Or-Hold-'Em Guide To Poker By Steve Rosenbloom For Chicago Tribune Because poker is more about people than cards and chips, it's imperative that you pay attention to your opponents all the time. Determine whether the player is aggressive or passive, tight or loose. Sometimes, though, even that isn't enough. Because in tournaments, tables get broken and players get moved, so there isn't always enough time to get an accurate idea of the kind of player you're facing. With 13 players remaining in the World Poker Tour's World Poker Finals at Foxwoods Resort Casino in Mashantucket last November, Annie Duke drew A-J of hearts after a player newly moved to her table opened the pot for $50,000. Duke raised it to $200,000. "I knew that his hand wasn't huge," Duke said, "and if I know his hand isn't huge, and I have A-J of hearts, I'm going to come over the top of him because even against a lot of hands that call, I'm going to be even money. "Given that I thought his hand wasn't that big, I assumed I would raise and pick up the money that's lying out there, and that's great. "Since he was so timid all the time he was at the table, I said he's someone who'll lay down hands if he's weak." Then again, maybe not. Duke's opponent held pocket 8s and moved all in, calling the $200,000 and pushing in another $80,000. "There was no fold for me," said Duke, who plays at Ultimatebet.com. "Mathematically, I got a huge price because I was even money, and I was getting great odds (better than 5-1 in a hand where she was almost 50-50 with two overcards)." The flop came J-8-6. "The first card was a jack, and I said, `Yes,'" Duke said. "Then an 8 came right behind it." The turn came a 3. The river came a 6. Duke's seemingly timid opponent made a full house and doubled up. "Erik Seidel was at the other table, and I went over there and told him about the hand," said Duke, who endorses D&D Tournament Poker software. "He goes, `Why would you do that to him? Obviously he's not going to lay a hand down.' Erik had played with him the whole second day. So he knew. I didn't know. "It's interesting, because as you're making judgments about people, sometimes you make a judgment where they're just getting a weird distribution of cards. "Pay attention to what's going on, and then understand that's not necessarily what's going on." If Duke had known that her opponent was someone who wouldn't lay down a hand once he got involved, she would've mucked the A-J and waited to trap him with a big hand because the way to counter a tight-aggressive player is to raise with strong hands instead of draws. Table Talk Full house: a hand consisting of three of a kind and a pair.

Borgata Poker Open Adds Ladies to the Mixx

Borgata Poker Open Adds Ladies to the Mixx From Poker Tour Info The Event Center at Borgata Hotel Casino & Spa was a sea of pink as the Ladies Only No Limit Hold 'em event kicked off Sunday and players sported their new pink Borgata Poker Open hats. With 516 competitors playing for the title, the ladies wasted no time taking to the felt like fish to water. Action flowed as the sound of chips being shuffled dominated the early rounds. The ladies action went long into the evening as players fought fatigue and short chip stacks in hopes of taking home the prestigious Borgata bracelet. Event seven's first-place finisher, New York City's Aena Kang, outlasted her opponents and played her hands to perfection, taking home $ 29,928 and the championship bracelet. In the end, her skill and aggressive play earned her the title of Ladies Only champion. Connecticut's Deborah Diehl, the second-place finisher, certainly deserved a round of applause for her efforts. Although she didn't win the bracelet, the $ 16,254 she took home made her day. Another highlight of the Ladies Only tournament was the success of a group of players representing WomensPokerClub.com, a web site dedicated to teaching women the ins and outs of the game. After several players cashed, the group made clear to future competitors that they are going to be a force to be reckoned with at upcoming tournaments. In addition to hosting the Ladies Only tournament, Borgata's premier nightclub and restaurant, Mixx, played host to a lavish and star-filled pre-party for the players of the WPT main event The party went off without a hitch as sponsor 2K Sports gave players a much needed rest from poker-related activities. Players mingled and danced to the upbeat sounds of the house DJ, while 2K Sports' new WPT-based game played on a large television screen. The game features several top poker pros and allows players to battle their way through WPT tournament events. Even game star Phil "the Unabomber" Laak took time to see if he could beat his computer-likeness. 2K Sports, who is looking to make a dramatic entrance into the poker video game market, will be releasing the game in late October 2005 for a projected price of around $ 20. Laak wasn't the only poker pro to kick up his heels during the evening as girlfriend and now poker superstar, Jennifer Tilly, took pictures with fans and worked the crowd elegantly as only a Grammy-nominated star could. Hosts Antonio Esfariandi and David Williams led the festivities, making sure everyone was having a good time. They were joined by a number of other poker stars like Clonie Gowen, Hoyt Corkins and Chris Bigler.

Budweiser - King of the World Poker Tour

Budweiser - King of the World Poker Tour Anheuser-Busch will also give local players a chance to win their way onto WPT for free Budweiser, the self proclaimed “King of Beers,” has found another place to hang its crown -- the arena of the World Poker Tour (WPT). Budweiser’s brewer, Anheuser-Busch, also plans on holding free live Texas Holdem poker tournaments for players 21 and older all around the country where the law allows for a chance to play in a WPT event. Beginning this December and running through February of next year, players will be given the chance to win their way into a national showdown where the top two players receive seats to the WPT’s Celebrity Pro-Am Invitational. The winners will join more than 300 players to try to win a piece of the $200,000 prize pool. Season four of the immensely popular show will feature the Budweiser logo in many new spots, including on the featured table ring and in graphics when viewers see the competitor’s hole cards. Anheuser-Busch will also run television spots advertising Budweiser as it airs on the Travel Channel. This isn’t the first time Anheuser-Busch got involved with the WPT. During the last few seasons, the winner of each featured tournament was toasted with Anheuser-Busch’s Michelob Amber Bock. Anheuser-Busch brews 30 beers and the WPT is seen in more than 100 countries and territories around the world. Anheuser-Busch is just another company that realizes just how many people it can reach by advertising with poker as a subject and during televised poker events. Just to name a few examples, Kimono brand condoms recently launched an advertising campaign set around a poker table (click here for story), Degree deodorant sponsors a segment for the WSOP broadcasts on ESPN and Toyota sponsors the WSOP Player of the Year points race, in which the winner receives a new truck.

5 Best Reasons To Play Poker Online

5 Best Reasons To Play Poker Online By Marc Weinberg For Online Poker Insider There are a lot more than five reasons to play online poker, but I thought I'd list the five top reasons that make poker online more profitable than poker in your local card room. Reason #5: There is always a game that is right for you That's actually an understatement. When it comes to online poker there are always hundreds of games that are not only right for you, but there for you right now. There is no wait for a table, and once you sit down at the table there is no reason to ever play in a game that is too tough, not your preferred limit, too quiet, or too aggressive. The beauty of online poker is the instantaneous availability of every kind of poker game at every limit. If you want to play in a quick tournament for $100 it is there for you. If your limit is $1 there is a game at those stakes as well. In addition, you can use the lobby of any online poker room to ascertain which games suit your style of play. Reason #4: You gain invaluable poker experience I'm sick and tired of reading about how playing poker online cannot make you a better poker player, it can only make you a better online poker player. Do people really think that the two are that different? The style of play is far looser and objectively worse online as a rule, but so what? The fact that you get to see thousands and thousands of hands provides you with the experience to win at any card room, online or offline. Furthermore, if you are winning at online poker it means that you have discipline, good hand selection, and have seen every possible scenario. Reason #3: Statistics, Statistics, Statistics In your local card room you might recognize three or four familiar faces at your table when you sit down. You might think to yourself that those guys are very tough, and you probably have no choice but to play against them. But with online poker you have the choice to get up and play at another table immediately, and you also have a lot of information about those players and many more like them. You can keep profiles and notes of your opponents, and you can access information about your own play. You don't play the same every session, and to prove this you should look at your own stats. Online poker provides a wealth of statistics, whereby you can monitor your own play and everyone else's play as well. It will make you money if you use it properly, trust me. Reason #2: The big score is finally within reach You could have played at your local card room's $4/$8 game for the rest of your life and never come close to sitting at a world series of poker table, or beating a poker pro that you secretly idolize. Now, with online poker those dreams are within reach, seriously. Poker rooms online are a populist's wet dream - providing everyone with a chance to win a huge event, or at least qualify. Every day, right now in fact, online poker is sending an amateur poker player to a $1 million event, or even a $20 million event, and it cost that player the price of lunch to qualify. Because of the sheer size of these poker rooms they can hold almost limitless satellite events and other feeder tournaments to send thousands of players to the biggest poker tournaments in the world. This isn't a pipe dream, it's online poker reality. Reason #1: The best reason: Online poker is more profitable Someone has to say this and it might as well be me. If you're a good player and you regularly earn $x an hour playing poker you should expect to make $2x an hour playing online poker. There are more hands, weaker players, and so many opportunities to win that it is staggering. Sure you get unlucky sometimes, and sure you only remember the shocking bad beats. That's poker nature. What you fail to remember is all the times that you caught lucky, because in your mind that was just life evening out. Get beyond the justice and play solid poker and you will show a far greater profit as a small to medium level poker player than you could ever manage in any real-world card room. Online poker will enable an entire generation of poker players to turn pro, and it will allow those good players to take the money of the weak. Who needs any other reason to play besides this one?

New UK Poker Magazine from Dennis Publishing

New UK Poker Magazine from Dennis Publishing UK-based publishing giant Dennis Publishing, which produced household names such as Maxim and Computer Shopper, is gearing up to release its first poker magazine, joining the recent influx of poker publications hitting the newsstands. To promote the forthcoming “Poker Player,” Dennis has recruited BLM and creative services provider Flint to handle an iTV ad campaign, which allows viewers to sample the magazine directly through television sets. In addition to sampling the poker mag, viewers will also be able to request three complimentary issues, should the magazine strike their fancy. Publisher Richard Downey, of Dennis' Gambling Division vowed that "Poker Player promises to be one of the most innovative, entertaining and exciting launches to come out of Dennis Publishing for many years. Both BLM and Flint interpreted our brief perfectly and I am extremely happy with the end product. Poker Player will be a magazine that appeals to everybody with an interest in the game no matter what the level of their experience and I believe our TV ad reflects really well." Poker fans will be able to get their hands on “Poker Player” starting September 22, at an introductory price of £1.

Sportingbet the mystery Empire bidder

Sportingbet the mystery Empire bidder Sportingbet has confirmed it has put in a US$1.4bn bid for listed egaming firm Empire Online, following widespread press speculation in the UK. Empire Online, the owner of poker site Empire Poker, said on Friday it had begun talks with an unnamed firm over merger talks. Initial speculation suggested the firm in question was PartyGaming, but media reports in the UK claimed it was Sportingbet. And the widespread speculation led this morning to a statement from Sportingbet. "Sportingbet announces that it is in discussions with Empire, which may or may not lead to an offer for the entire issued and to be issued share capital of Empire," the Sportingbet statement said. "These discussions are at a very preliminary stage, and there can be no certainty whatsoever that agreement will be reached and an offer will be forthcoming," it added. The deal would be the largest in egaming history, and would far exceed Sportingbet's US$300m acquisition of Paradise Poker last November. And it has surprised many within the egaming industry, with Sportingbet only recently completing the integration of its US sportsbook brands with the Paradise Poker network. But the potential acquisition of Empire Poker throws up far more integration issues. PartyGaming currently provides the software and payment processing for Empire Poker through a white label deal. Empire Online also derives a proportion of its revenues from affiliate marketing deals for the casino operations of 888 Holdings and PartyGaming. However, sources said PartyGaming was unlikely to allow its largest white label to fall into the hands of one of its major competitors. And press reports in the UK have also linked PartyGaming with considering putting in a rival offer, and it would have the firepower to outbid Sportingbet. PartyGaming, which runs the PartyPoker website, is the world's largest listed egaming firm with a market capitalisation of almost US$12bn. In comparison Sportingbet has a listed market capitalisation of around US$1.9bn, and US$2.8bn on a fully diluted basis. Sportingbet declined to comment further on the news.

Speculation surrounds US$1.4bn Empire bid

Speculation surrounds US$1.4bn Empire bid Empire Online, the Cyprus-based poker operator, has received a US$1.4bn buyout offer, sparking intense speculation over the indentity of the mystery bidder. Empire Online (EOL) confirmed it had commenced discussions with the unnamed party, but said talks were at a very early stage. “There can be no guarantee that an offer will be made for the Company at 270p per share or at all,” it said. But industry and media speculation is rife over what would be the largest deal in egaming history. And the two largest egaming firms have emerged as potential rival bidders. The size of the bid rules out most listed egaming firms, with only Sportingbet and PartyGaming appearing to have enough firepower to raise the US$1.4bn needed. There is also the possibility of privately owned PokerStars or 888 Holdings, which recently announced its intention to IPO, mounting a bid for Empire. But PartyGaming remains the most likely candidate, and the offer could potentially start a bidding war for EOL. One source said even if it was not the current bidder it was unlikely to let EOL be bought by a rival operator. EOL runs Empire Poker, which is believed to contribute as much as 20% of the liquidity to PartyGaming’s poker room PartyPoker. But the firm has recently made moves to reduce its dependence on PartyGaming with plans for the acquisition of rival poker site Noble Poker. And the loss of Empire Poker would be a major blow to PartyPoker's dominance of the poker sector. Analysts at Citigroup Smith Barney said earlier this year PartyGaming’s best option was to “tie Empire Online in” though acquisition. Any takeover deal would mark a sudden exit for EOL, which is one of the newest listed egaming firms. EOL only came to market in June and has already performed strongly with its shares rising 56% in value since listing.