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    Daily Gambling News Update | Wednesday, December 7, 2011

    Posted by Quad Jacks March 14, 2012

    WEDNESDAY, DECEMBER 7, 2011

    Sheldon Adelson, CEO of Las Vegas Sands Corp., to oppose online poker: The pro-online poker community was greatly discouraged by a report in the Las Vegas Sun on Tuesday evening that Sheldon Adelson, CEO of Las Vegas Sands Corp., will oppose efforts to legalize Internet poker in the U.S., citing a knowledgeable source. This was corroborated by the Las Vegas Review Journal this morning. Adelson’s opposition is viewed a substantial setback to the cause’s advancement, as he is largely known to have considerable influence on Congressional Republicans.

    Sheldon Adelson, the world’s richest casino executive, has not yet issued an official statement, and neither has the company, although a Las Vegas Sands spokesperson has described Mr Adelson’s stance as “a personal observation of concerns about technology.” Adelson is said to be “morally opposed” to online gaming, believing the current technology is not yet capable to protect consumers or prevent the youth from gambling illicitly. American Gaming Association CEO Frank Fahrenkopf Jr. reveals that Adelson visited the lobbying organization’s offices Monday. “Sheldon has long had concerns about this issue, and it is perfectly within his right to make this decision,” Fahrenkopf said in a statement. “However, the AGA, at the direction of our board of directors, will continue to support federal legislation to allow states to license and regulate online poker.”
    Sources: Las Vegas Sun, Las Vegas Review Journal, Seattle Post-Intelligencer

    AGCC announces “independent review” of Commission’s handling of Full Tilt Poker revocation: In a press release issued this morning, the Alderney Gambling Control Commission – former regulator of Full Tilt Poker and affiliated entities – announces it will organize an independent review of its own actions related to the suspension and ultimate revocation of Full Tilt Poker’s license in the aftermath of Black Friday. The Commission’s executive director, Andre Wilsenach, is quoted in the statement: “As soon as we became aware that there were possible irregularities in relation to FTP’s operational integrity AGCC acted to discharge fully our statutory obligations. We believe we acted appropriately and fairly at all times but, following our own internal assessment and the inevitable questions that have been raised by third parties, the Commission decided that it is in the best interests of players, licence holders and AGCC itself to commission an independent review and to make the outcome public.”

    The review will be led by Peter Dean, a former chairman of the British Gambling Commission, and a final report is expected by no later than March of 2012.
    Sources: AGCC

    Outlook for worldwide gambling industry positive, according to projections: A major accounting firm, PriceWaterhouse-Coopers LLC, has issued its 2011-2015 Global Gaming Outlook. The compiled data suggests that gaming revenues will increase in almost every area of the world. The largest growth will occur outside of the U.S., which is still expected to observe a modest growth at an average of 5 percent per year, from $57.5 billion in 2010 to $73.3 billion in 2015, largely due to the openings of new gaming markets in states like Massachusetts and Pennsylvania. The Asia-Pacific region will continue to cement its role as the world’s largest regional gaming market, with projected gaming revenues to increase by an average 18.3 percent per year, from $34.3 billion last year to $79.3 billion in 2015.

    The overall global gaming revenue prediction is estimated at 9.2 percent a year until 2015, rising from $117.6 billion in 2010 to $182.8 billion in 2015.
    Sources: Las Vegas Review Journal, The Independent

    QuadJacks – Wednesday, December 7, 2011

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