07 Sep 2010
by in gambling Tags: profits, punters
Get more Midas share tips every Wednesday. Find out more at thisismoney.co.uk/midas-extra
Online gambling has received some unwelcome publicity in the past week. Claims that Pakistani cricketers have been bowling no-balls to order has focused attention on internet betting as the route by which the unscrupulous could have benefited from any such unsporting behaviour.
But the leading online bookmakers and gambling services should not be tarred with this allegation. and the incidental scandal of cricket aside, it is just possible that over the next couple of years this industry will emerge from its troubled past and boom again as it did in the early years of this century.
With this in mind, Midas reckons the London-listed online bookmaker Sportingbet might be worth a flutter. The group, which transferred to the main market from the Alternative Investment Market in may has put in a solid performance so far this year and its full-year results, which are due on October 6, should confirm the group’s solid financial footing.
Performance: This year’s World Cup generated ?50 million in bets
Figures for the first nine months of its financial year (to the endof April) showed that punters staked almost ?1.5billion on sportingevents through its phone and internet betting services, a figure thatshould reach ?2billion for the full year, helped by the World Cup,which generated ?50million in bets.
Profits for the first nine months were about ?27million andanalysts forecast annual profits of ?34million, with earnings pershare of almost 6p. Sportingbet has already said it is confident ofreaching target earnings, so these forecasts should be reliable.
The stock has enjoyed a rise in recent weeks, but at 67p ashare the company is still valued at just over ten times earnings – amodest rating for a business that is growing rapidly.
Like most online bookies, Sportingbet suffered a major setbacka decade ago when America began clamping down on internet sportsgambling, which the Supreme Court ruled to be illegal.
Sportingbet was among those that closed down its Americanoperations and it is still in talks with US authorities over how itspast operations there should be regarded. A settlement, including apayout to the American taxman, is the most likely outcome and that doesconstitute an unknown risk to the business.
But America poses far more of an opportunity. While certain parts of theUS remain firmly opposed to gambling of any kind, let alone of theonline variety, the expectation is that the nation’s libertariantradition will triumph.
The Internet Gambling Regulation, Consumer Protection, andEnforcement Act, introduced by Congressman Barney Frank, is working itsway through the American political system and most expect it willbecome law, legalising and regulating online gambling within a year ortwo.
At that point the market for legitimate online bookies willexplode and the price of settling past misdemeanours will become aminor issue in comparison with the size of the opportunity.
Another major boost could come from consolidation in the sector. Internet gambling sites Party-Gaming and rival Bwin recently announced merger plans and others are expected to follow.
Sportingbet has been tipped to merge with rival 888 or to becomea target for Ladbrokes or William Hill. As ever, sensible investorsshould not put down money solely on the hope of such a deal, which maynot be forthcoming, but the possibility does add a frisson ofexcitement to the already undervalued shares.
Midas verdict: Sportingbetmay gain a huge boost either from a takeover or a liberalisation of theUS market. but even without these, the company is undervalued.
Full-year profits will confirm the strong performance. at 67p the shares are valued at a modest ten times earnings so it is not too much of gamble to say: buy.
Traded on: Main market Ticker: SBT Contact: sportingbetplc.com or 020 7184 1800
MIDAS UPDATE: story sours for PureCircle
ONCE in a while a Midas tip can leave a bitter taste and one such was our recommendation of PureCircle.
The company has been developing low-caloriesweeteners based on a plant called Stevia rebaudiana and was a Midaschoice in April, when we recommended the shares as a buy at 289p.
Since then it has turned rather sour. The shares havedropped to just 1821/2p after a disappointing interim managementstatement in July. The company’s prospects hinge on steviabasedsweeteners taking off and on PureCircle securing a significant part ofthe market. it already has partnerships with significant names such asPepsiCo that appear to be taking the potential of stevia seriously.
The group, founded in 2002 by Russian chemist MagometMalsagov, has made some forward steps in a joint venture with Americancompany Imperial Sugar to produce combined sugarstevia products andplans for a similar joint venture with British Sugar Group, part ofAssociated British Foods.
But in July, PureCircle reported that sales to one of its customers had stopped dead andthat sales for 2010 would be in line with those of 2009, a substantialdrop in expectations, which led many investors to quit the stock.
Some will have banked profits, having bought muchearlier in the PureCircle story. some will have been cutting theirlosses. it should be remembered that the group is at least profitable,though it is valued at a heroic multiple of its earnings, which meansit will have o be a true rags to riches story for any investment to make good sense.
That, of course, is the risk and potential reward of any company whose strategy hinges on a revolutionary product breakthrough.
Midasverdict: We warned in April that PureCirclewas a ‘big risk’ and so it has proven. some may find the stevia dietunpalatable and may wish to cut their losses.
But the fundamental case for stevia-based sweeteners and for the company remains unchanged.
These shares are still a big risk, but there is also thepotential for a substantial recovery in the price. at the very least itshould be possible to exit at a better price than this. Hold.
MIDAS EXTRA: Risky tips have right Dynamics
Our new One for The Gamblers feature on our weekly subscriptionservice Midas Extra, which tips slightly higher-risk shares, hasalready notched up impressive profits.
Trader-at-large Graeme Dickson recommended PursuitDynamics at 223p in his first column early last month. They are nowmore than 20 per cent higher.
Then on August 25 he tipped IQE at 241/4p, giving a gain of almost 23 per cent at the close of business last week.
Midas Extra, which costs just ?10 a month, also includesDickson’s recommendations for shares to short sell and includes twoexclusive share tips each week from our Investment Editor, Joanne Hart.
Find out more at thisismoney.co.uk/midas-extra
<a href="http://www.dailymail.co.uk/money/article-1309026/MIDAS-SIMON-WATKINS-Sportingbet-line-boost-US.html?ito=feeds-newsxmltag:news.google.com,2005:cluster=http://www.dailymail.co.uk/money/article-1309026/MIDAS-SIMON-WATKINS-Sportingbet-line-boost-US.html?ito=feeds-newsxmlSat, 04 Sep 2010 21:17:11 GMT 00:00″>MIDAS by SIMON WATKINS: Sportingbet in line for boost from the US
06 Sep 2010
by in gambling Tags: 0000, bob duff, kevin wallis, ontario racing commission, raceway drivers, windsor raceway
by Bob Duff
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Three Windsor Raceway drivers, one of them the leading race-winning driver in the country, were issued lengthy suspensions Friday by the Ontario Racing Commission following a six-month investigation into race fixing at both Windsor Raceway and racetracks in Michigan.
Brad forward, formerly a resident of Amherstburg and currently living in Woodstock, Ont., was handed a five-year suspension and a fine of $5,000. Cottam’s Gene Piroski was suspended for 10 years and fined $100,000. Maidstone’s Kevin Wallis was issued a 12-year suspension and also fined $100,0000.
In addition, driver Art McIlmurray of Northville, Mich., a former Windsor regular who currently does not hold an ORC licence, was ruled ineligible to be licensed in Ontario until such time as he appears before the director.
All parties are entitled to a hearing before an ORC panel in relation to these suspensions and fines.
“The suspensions and fines are a result of an investigation into allegations that certain licensees racing at Windsor Raceway were conspiring to affect the outcome of horse races,” Blakney said in a statement released by the ORC.
The suspensions are the culmination of an investigation first launched in March, when police raided the homes of several harness horsemen in the Michigan area.
The ORC Investigations Unit – including members of the OPP Illegal Gambling Unit – teamed with the Michigan State Police (MSP) and the Michigan Gaming Control Board (MGCB) in the investigation of what the ORC termed, “races of interest,” at Michigan race tracks and Windsor Raceway. The Canadian Pari-Mutuel Agency (CPMA), the federal agency responsible for supervising licensed pari-mutuel betting systems in Canada, also assisted in the investigation. The collaborative effort examined races from Jan. 1, 2008 to March 31, 2010.
Though the ORC held hearings in Windsor within a month of the original allegations in Michigan, these suspensions offered the first indication that racing in Windsor was part of the scandal.
The ORC stressed that Windsor Raceway itself played no role and had no knowledge of any race fixing at the track.
“The management of Windsor Raceway cooperated and assisted fully in the investigation and is not part of this action,” Blakney said.
The 2010-11 season of live racing is slated to begin at Windsor Raceway Sept. 26.
Forward, 39, led all Canadian drivers in 2010 with 374 wins at the time of his suspension and is the reigning Lampman Cup winner as the top driver on the Ontario Sires Stakes circuit. he represented Canada in the 2009 world driving championship after winning the Canadian national driving title. he was an O’Brien Award finalist as Canada’s top standardbred driver that same season.
Wallis, 53, has won 9,071 races, good for 12th on the all-time win list, with in excess of $42.9 million in career earnings. he won his 9,000th career drive April 18 at Florida’s Pompano Park. Wallis guided Burning Point, a trainee of his wife Linda, to victory in the 2003 Breeders Crown three-year-old filly pace. Burning Point was named top standardbred horse for her age and gait that year in both Canada and the United States.
Wallis was originally suspended indefinitely in July by both the ORC and the Michigan Gaming Control Board. The MGCB concluded in its ruling following a June 22 hearing in Detroit that. “(w)hile under oath, mr. Wallis provided false and misleading statements to the stewards’ questions.” Wallis denied accepting any money, or providing money to other drivers for participation in the fixing of races, statements which contradicted previous testimony from other unnamed drivers, who claimed that Wallis both received money and also paid other drivers to participate in arranging the race fixing.
Wallis is also accused of accepting gifts of liquor and cigars from gambler Saleh (Sam) Summa to provide Summa with information in order to influence the outcome of races, an illegal practice known as touting.
Piroski, 37, shows 1,611 lifetime wins, 105 of which had come this year. he was third in wins (18) and fourth in earnings ($86,790) this summer at Dresden Raceway at the time of his suspension.
Last season, Piroski (54 wins, $246,091) was third among Windsor Raceway drivers. forward led the way with 122 wins and $440,793 in earnings.
Previously as part of the investigation, Michigan-based horsemen Don Currier Jr., Don Harmon, Wally McIlmurray Jr., John Moody, and Rick Ray were suspended indefinitely by the ORC and for a year by the MGCB. Art McIlmurray and horse owner Haitham Shamoun were suspended indefinitely by both organizations, and Summa was prohibited from visiting race tracks in Michigan and Ontario.
Windsor Raceway horsemen banned for race fixing – Yahoo! Canada News
06 Sep 2010
by in gambling Tags: fishing sinkers, jim shepherd, petition, toxic substances control act
In a resent edition of the Outdoor and Shooting Wire, Jim Shepherd issued congratulations to the shooting community for speaking out in what has been characterized as “huge numbers” against a petition before the Environmental Protection Agency that, if accepted, would have resulted in an almost instantaneous ban on lead in ammunition and shot.
Last Friday, after fewer than three days of public comment, the EPA issued a denial of the ammunition portion of the petition, stating the agency lacked the authority under the Toxic Substances Control Act to regulate ammunition.
More revealing, it continued to say “…nor is the agency seeking such authority.”
“Sinkers” fishing tackle however, is not off the hook.
“As there are no similar jurisdictional issues relating to the agency’s authority over fishing sinkers, EPA as required by law will continue formally reviewing a second part of the petition related to fishing sinkers.”
In other words, the so-far orderly migration to alternatives to lead in fishing tackle might be “accelerated” by an EPA acceptance of a petition from a group of organizations that include the Center for Biological Diversity.
So what is the recreational fishing position on the petition? at the moment, there seems to be no new position. but the American Sportfishing Association has held a pretty clear position on the lead issue since a 2008 recommendation from the American Fisheries Society and the Wildlife Society calling for lead to be phased out and replaced by other materials.
The ASA says insufficient evidence exists to warrant state or federal bans on lead sinkers used for fishing. Habitat loss, the ASA asserts, is a far greater threat to all waterfowl species than lead sinkers.
The organization, however, does not run from the fact that lead ingestion can kill water birds, and that lead sinkers undoubtedly contribute at some level to that mortality.
Instead, ASA’s suggestion is that before laws or regulations are enacted to restrict lead sinkers for fishing on a state or national basis, sufficient data must exist to demonstrate that discarded or lost lead sinkers are an actual threat.
There’s also a simple economic reasoning behind the position: “Depending on the alternative metal and current prevailing raw material costs, non-lead fishing tackle products can cost from six to 20 times more than lead products. Non-lead products may not be as available and most do not perform as well. Mandatory transitioning to non-lead fishing tackle would require significant changes from both the industry and anglers.”
Today, some states have prohibitions against lead sinkers, primarily those weighing one ounce or less. but they do not call for an outright ban on lead usage.
This latest petition, if adopted by the EPA, would lead to far tougher restrictions, if not outright bans across the board.
The EPA is required to issue its decision on the petition no later than November 1.
In the meantime, it would seem reasonable that anglers remind the EPA that solid scientific evidence to warrant a ban simply does not exist.
To comment on the fishing tackle issue, visit www.regulations.gov/search/Regs/home.html#docketDetail?R=EPA-HQ-OPPT-2010-0681 and click on “Comment Due.” that will take you to the docket comment page. There you have 20 minutes and 2,000 words to make your feelings known on the issue.
Might be a small amount of time very well spent.
Cooler nights, wind help knock down Clear Lake
With cooler nights and mornings the past week or so, and some wind, much of Clear Lake’s algae is disappearing, especially in mid-lake sections.
Anglers have experienced an unusual amount of the “stinky” algae bloom this year; many have given up fishing the lake because of it.
Most success has been coming in the hour before sunrise in the shallower areas, but the mid-morning bite is best in the middle of the lake.
Be prepared to have the chore of picking algae out of your rod guides and your reels, but some anglers are scoring four to nine bass per day, using crank baits, plastic worms and Senkos.
Canada goose population explosion may mean early season
There’s an excellent chance California goose hunters may enjoy an early Canada goose season within the “balance of the state zone” (excluding Humboldt and Del Norte counties) for the first time this October.
With the explosion of Canada geese populations all over the state and their welcome to parks, golf courses, around airports and on private property waning, California Outdoor Heritage Alliance (COHA) and California Waterfowl have proposed the new early season for honkers to the Department of Fish and Game.
In order to take place, approval must come from the California Fish and Game Commission. the proposed dates are October 2 through October 6.
Local Canada goose populations within the state have increased significantly over the last several decades due to expanded habitats and food resources. In response, the commission has approved an increase in the daily bag limit on honkers to six birds total and even authorized the issuance of depredation permits.
If approved, the early Canada goose season will provide expanded hunting opportunities and more help to control nuisance geese.
ABOUT THE AUTHOR: Gary Roussan is an avid Willits sportsman and conservationist.
<a href="http://www.willitsnews.com/ci_15985210tag:news.google.com,2005:cluster=http://www.willitsnews.com/ci_15985210Fri, 03 Sep 2010 20:02:14 GMT 00:00″>THE SPORTSMAN’S CORNER: EPA says it has no authority to regulate lead in ammunition
05 Sep 2010
by in gambling Tags: account balance, bclc, blackjack, casino style games
TheRecord.com – National – Stakes high for BC online casino relaunch; glitch let players use others cash Stakes high for BC online casino relaunch; glitch let players use others cash August 19, 2010 Tamsyn Burgmann, The Canadian Press The Canadian Press, 2010
VANCOUVER – Gamblers in British Columbia are being invited to place their bets as the B.C. Lottery Corporation rolls the dice again on its new online casino.
Launched with much fanfare over its claim to be the first website in North America to offer legal casino-style games, the PlayNow.com website was yanked on its first day because players got a little too lucky: a technical glitch let them gamble with other people’s money.
“I don’t think there’s any question that we have to work hard to rebuild (customers’) trust,” BCLC president Michael Graydon said Thursday, on announcing the house should be back open for games including blackjack, roulette and craps at 7 p.m. PT.
The security breach in mid-July affected 134 player accounts, of which 12 had some personal information viewed by others, Graydon said. In some cases, the users were able to see the other person’s account balance and personal information.
“We reacted very quickly once we saw the problem, shut the system down to protect our customers and the efforts we’ve put in place over the past few weeks in mitigating the problem have all been directed at ensuring the integrity of our customers.”
He said no players were “adversely impacted” financially, and the BCLC has provided credit monitoring services to all 12 people who had their information viewed.
But the corporation did take estimated gambling revenue losses of $150,000 for everyday the site was down, he said. he wouldn’t give a figure of how much it cost to investigate and implement a solution.
Pin-pointing exactly what went wrong took some technical sleuthing, Graydon said. it took about six days to identify the root cause, what he called “data crossover.”
“A default configuration setting designed and packaged by the server software provider created a vulnerability within the server environment, allowing the incorrect assignment of user information,” he said, adding that website performance issues and high traffic loads contributed.
Once that was sorted out, he said a fix itself was pretty simple.
BCLC then conducted a “rigorous” four-part external review and regulatory approval process before wagering another go.
That included getting the green light from the provincial privacy watchdog, who accepted findings from an independent security expert on the cause of the bug.
B.C. Privacy Commissioner Elizabeth Denham said she’s “satisfied” the problem has been fixed.
“I have no evidence there are further problems with the BCLC site, but we are doing a fuller investigation and I think there are some lessons learned,” she said. “We want to make sure that all of the proper policies and controls and audits are in place on the site.”
Results of the broader investigation, aiming to determine whether the site has appropriate levels of security in place to protect personal information, could take up to two months, she said.
In a letter to Graydon, an official with the ministry of housing and social development, which oversees the gaming regulator, said it has provided oversight of the activity to rectify the problem and approved a re-launch.
Opposition new Democrat gaming critic Shane Simpson said the security breach is just another in a series of huge concerns created by the BCLC for British Columbians.
“It’s really important now that the government do everything it can to restore the public’s confidence, and that means being open and transparent about what’s going on at the lottery corporation, where it seems to be one bungle after another.”
TheRecord.com – National – Stakes high for BC online casino relaunch; glitch let players use others cash
05 Sep 2010
by in gambling Tags: guest columns, santa ynez valley journal
A big part of the debate over the Akaka Bill has revolved around exactly what rights and privileges will belong to the new Native Hawaiian “tribe” following reorganization, and with the issue of casino gaming and gambling long holding a contentious place in Hawaiian politics, it was inevitable that the proposed bill would have to address the issue . Some believe that the prohibition on gaming in the Akaka Bill is sufficient to put the matter to rest, while others (including this blog) have pointed out that the language of the bill may not be the final word on the matter–especially with so much money at stake.
Under the circumstances, I thought it would be interesting to look at the history of the development of Indian gaming in another context (namely, California), and am therefore happy to introduce the first part in a series of guest columns by Jim Marino, an attorney from Santa Barbara who is an expert on the issue. These columns were originally published earlier this year in the Santa Ynez Valley Journal, and manage the rare feat of being both interesting and educational. Enjoy:
HISTORY AND IMPACTS OF INDIAN GAMING IN CALIFORNIASanta Ynez Valley JournalBy Jim Marino, Guest ColumnistApril 15, 2010
(Part 1)
It has been almost 10 years exactly since Indian casino gambling was legalized in California. Very few people know the history of Indian gambling casinos in California so this is a good time to review that history. I will do this is a five-part series covering the origin of Indian gambling in California up to the present time.
As public attitudes loosened toward gambling in general, many states began to expand legalized gambling. Betting on horse racing at race tracks had long been permitted. The only limitation was the use “bookies” or other off-track intermediaries to place bets, collect and pay off bets made on horses. Many cities also had a thriving underground “lottery” system usually called the “numbers rackets.”
People picked numbers and made a bet, the numbers were then selected often by using the winning numbers of horses running in certain races at a particular race track. Similarly, though probably illegal, Saturday night “penny ante” poker games were commonplace everywhere, and in some communities people engaged in shooting “craps” – a form of gambling using dice. although many of these gambling activities were illegal, law enforcement placed very low priority on raiding illegal off-track bookie operations, or the “poor man’s lottery,” the numbers rackets, or Saturday evening poker games played for money usually occurring between friends and for relatively small amounts of money.
Then there were the full-on legal casino gambling venues which were limited to Nevada, Atlantic City, new Jersey and cruise lines and riverboats, where the full range of gambling games were allowed. these included slot machines, roulette, craps, blackjack and other house-banked card games pitting the gamblers playing those games against the house and not each other.
As attitudes toward gambling changed and more and more people saw these many forms of gambling as harmless, state and local governments took a second look at their laws strictly prohibiting most gambling games. Soon many states had state-run lotteries and allowed poker rooms or card clubs and even legalized off-track betting on horse races. Taking it a step further, many states allowed charitable groups to hold Bingo games for money, but licensed them and limited the amounts of money one could play and win and the hours and conditions of operation.
Meanwhile, the federal government had been trying for decades to find a way for the real historic Indian tribes to become self-sufficient and sustainable and doing so without eliminating the Indian tribal reservation system, which for decades had blocked the integration of Indians into mainstream America, particularly the mainstream of American economy.
Many tribes and particularly tribal governments resisted any change or attempts at assimilation, which they considered a threat to their tribe’s cultural preservation and a threat to the fiction that Indian tribes and their governments were “sovereign nations” notwithstanding the nearly total dependency of most tribes on the federal government.
Many of the 600 or so recognized tribes had only a handful of members and little land base. As Tim Giago, a noted Lakota Sioux writer, once wrote in an editorial, “Indians don’t need more welfare, they need a welfare to work program.”
Congress passed many laws in the struggle to improve a lot of reservation Indians and eliminate the massive bureaucracy that had been established, called the Bureau of Indian Affairs (B.I.A.), and its even bigger parent, the Department of Interior (D.O.I.).
Congress was loathe to eliminate the inherent separation and isolation created by the tribal reservation system. In most cases these federal laws and programs were ineffective. The real historic tribes of Indians often saw those assimilation efforts as an attempt to extinguish their respective cultures or impinge on what they considered to be a “sovereign status.”
Beginning during the late 1970s and early 1980s, Indian tribes in Florida and other states began offering Bingo for money as a tribal business and method of earning money.
Not long after those efforts began the tiny Cabazon Indian tribe located near Palm Springs asserted the right to offer Bingo games for money, and without any limitation on the amounts of money, conditions and hours of operation that applied to groups under California charitable Bingo laws. they also wanted to open a card club like those being operated under State and local licensing, but without the regulations imposed by the California Gambling Control Board and local jurisdictions. California refused to allow these Bingo games and card clubs, because the State feared it could not control such activities when it was occurring on Indian reservation lands.
A lawsuit entitled Cabazon Tribe v. California (Governor Wilson) was commenced and finally wound its way through the system and wound up before the United States Supreme Court in 1987. In that case, the U.S. Supreme Court divided California gambling games into two groups: Those games that were illegal and prohibited by everyone, everywhere in the state and those that were permitted like charitable Bingo, horse racing and card clubs. The court concluded that Indian tribes in California were entitled to operate Bingo, card games and other forms of gambling that were permitted to other non-Indians within the state.
They further concluded that because Indian tribes had historically been accorded a measure of self-government and control of their governmental affairs on their reservation lands, then when operating these permitted games they could regulate these games on their own – setting the rules and limits of play for themselves and need not follow California’s limitations.
On the other hand, the Court made it clear all gambling games that were prohibited to everyone within the State of California as a matter of strong public policy were likewise prohibited on any Indian reservations within the borders of California.
This was a fairly straightforward decision; however, it was poorly understood by many state and local governments all over the country, many of which thought this decision would open the floodgates of gambling in their respective states.
Consequently Congress moved quickly in what they thought would clarify the Cabazon case, and in October 1988 they enacted the Indian Gaming and Regulatory Act [the IGRA] 25 USC 2701 et.seq.
This Act divided Indian Gambling games into three groups: Class I was any traditional Indian games played amongst tribal members. Class II was Bingo or similar traditional games played on a card by marking a number of letters as they were randomly selected and called out or posted. these games were licensed and regulated by the National Indian Gaming Commission also created by the I.G.R.A. Class III gaming was the full-on casino style gambling like slot machines, “craps,” roulette, blackjack and other “house-banked” games where the players are playing against the house and not against each other. To be entitled to engage in Class III gambling games, the Indian tribe must have a tribal-state compact approved by the state and lawfully in effect under state law. As it later turned out, this federal law created more problems than it resolved.
Next time: The Indian Gaming and Regulatory Act, an example of a well-intended law gone awry.
Jim Marino on Tribal Gaming (Part 1) « The Mystery of Hawaiian History
04 Sep 2010
by in gambling Tags: central florida, michael jordan, mistake, nevada gaming control board, sophomore guard
Michael Jordan’s Son Puts Casino in Trouble
Apparently gambling runs in the family as Michael Jordan’s son Marcus is bringing some unwanted heat to MGM Resorts International.
The resort came under investigation from gaming officials after the underage Marcus tweeted about his wild weekend in Vegas and a stop at a strip club.
Nevada Gaming Control Board enforcement chief Jerry Markling said they were examining whether the casino operator violated laws prohibiting drinking or gambling by minors.
Markling added that many people under 21 try to gamble and drink in Las Vegas but punishment depends on the circumstances.
According to the associated Press, the 19-year-old Young Jordan tweeted on August 20th about spending $35,000 at Haze at Aria Resort & Casino.
“Last night was stupid… 35K at Haze,” the University of Central Florida sophomore guard said. “Totals 50K something the whole day.”
Since the investigation, the tweet has been deleted and Marcus Jordan told Fox Sports that it was a mistake and he has discussed the situation with his parents.
“I didn’t mean it the way it came across. my family and friends know the type of person I am,” stated Marcus.
Marcus’s brother Jeffrey was also along for the fun as well as Marcus’ teammate A.J. Rompza as all three were in town for # 23’s fantasy basketball camp.
This also isn’t the first time Marcus Jordan didn’t have to play by the rules.
Last year, Marcus cost his school $3 million after the University of Central Florida lost its sponsorship from Adidas.
The shoe brand pulled out of the deal after Marcus refused to wear Adidas shoes like the rest of his teammates. Marcus contends that he only wears Air Jordans because they hold “special meaning” to his family.
GTFOH… I guess some people don’t have to adhere to the rules.
UCF Loses Sponsorship Over Michael Jordan’s Son
Michael Jordan’s Underage Son Wilds Out In Las Vegas, Casino Under Investigation
04 Sep 2010
by in gambling Tags: 10 gigabit, gigabit ethernet, nokia siemens, sgms, strategic alliances
Trends, Observations, and Exclusive Opinion
Three SmallCaps Move up on Trends
EXTR: in Top-of-Rack Switches, co is only #2 to Cisco
WTSLA: No Debt and ttm Diluted EPS of +$0.87
SGMS: Awarded Significant Contract by Illinois Gaming Board
First up this morning we have Extreme Networks Inc., (EXTR) http://www.extremenetworks.com/ currently trading in the $2.77 range on a 3-Month vaerge daily trading volume of 482,566 shares. EXTR has a 52-week high of $3.79 set on 04-27-10 with current trailing twelve month revenues of $309+ million. EXTR provides network infrastructure equipment to businesses, hospitals, schools, hotels, telecommunications companies, and government agencies worldwide. EXTR sells and services the Summit product family, a stackable ethernet switching system providing a range of 10 Megabit to 10 Gigabit connection speeds. EXTR has strategic alliances with Dell, Ericsson, Nokia Siemens, and Avaya, inc. to develop and market converged communications solutions. Yesterday the co announced that it has continued to grow its share in the global data center Ethernet market. EXTR’s growth during Q2, according to the Dell’Oro Group, was highlighted by impressive gains with its fixed 10 Gigabit Ethernet (GbE), purpose built, “Top-of-Rack” switching solutions, as reported in the Dell’Oro Group’s most recent market share update. EXTR commanded the #2 revenue position for data center Top-of-Rack switches according to the quarterly Ethernet market share report, behind only Cisco. in the “top of Rack” switch port shipment category, Extreme Networks increased its port shipments by 194% compared to the same quarter one year ago. This demonstrates continued momentum for the Company in the dynamic and demanding data center Ethernet market. $1 off its 52-week high and only second to Cisco, EXTR would be a long-term (1 Yr) ‘Buy’ consideration for me.
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Next up this morning we have Wet Seal Inc., (WTSLA) http://www.wetseal.com/ currently trading in the $3.02 range. WTSLA has a 52-week high of $5.25 set on 04-27-10 with current trailing twelve month revenues of $561+ million and a positive, corresponding diluted EPS of +$0.87. I really like those earnings. As of May 1, 2010, WTSLA, a leading specialty retailer to young women, had 501 stores, including 422 Wet Seal stores and 79 Arden B stores in 47 states, the District of Columbia, and Puerto Rico. Last week WTSLA posted its Q2 numbers. Net income was $1.6 million, or $0.02 per diluted share, as compared to $3.1 million, or $0.03 per diluted share, in the prior year quarter. Net sales for the quarter were $131.5 million compared to net sales of $136.4 million for the prior year second quarter. As of quarter-end, the WTSLA’s inventory per square foot was flat versus the prior year quarter, with Wet Seal down approximately 1% and Arden B up approximately 8%. WTSLA generated cash flows from operations of $3.6 million during the second quarter, and ended the quarter with $165.5 million of cash and cash equivalents and no debt. Ed Thomas, CEO of WTSLA said, “A very competitive promotional environment and volatile consumer spending patterns presented challenges to both of our operating divisions in the second quarter. in spite of these factors, we improved merchandise margins at Wet Seal as a result of better inventory content versus the prior year, and we sustained strong merchandise margin performance at Arden B, which helped offset much of the impact of our comparable store sales declines. we have also maintained strong discipline over costs as we continue operating in this very challenging retail climate.” That’s the stuff Ed. WTSLA would be a short-term (6 Mo) ‘Buy’ consideration for me.
Finally this morning we have Scientific Games Corporation (SGMS) http://www.scientificgames.com/ currently trading in the $10.38 range. SGMS has a 52-week high of $19.29 set on 10-14-09 with current trailing twelve month revenues of $921+ million. Last week SGMS, which makes instant-win lottery tickets and sells services to lotteries, said the co had been awarded the contract for the design, implementation and administration of its next-generation Video Gaming Central Control system by the Illinois Gaming Board. Under the terms of the contract, SGMS will provide real-time communication and control between every licensed video gaming terminal in the state of Illinois on a 24 hours a day/7 days a week/365 days a year basis for the life of the contract. the contract was awarded through a competitive procurement process, has an initial term of six years and includes an additional four-year contract extension option. “This is a significant award for Scientific Games as Illinois could prove to be the largest video gaming network in the country with the potential for up to 60,000 video gaming terminals,” said Michael R. Chambrello, President and CEO of SGMS. At nearly half its 52-week high, SGMS would be a ‘Buy on the Dips’ consideration for me.
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<a href="http://www.smallcapnetwork.com/Are-You-In-on-These-Earnings-and-Deals-EXTR-WTSLA-SGMS/s/article/view/p/mid/1/id/799/tag:news.google.com,2005:cluster=http://www.smallcapnetwork.com/Are-You-In-on-These-Earnings-and-Deals-EXTR-WTSLA-SGMS/s/article/view/p/mid/1/id/799/Thu, 26 Aug 2010 17:04:02 GMT 00:00″>Are you in on these Earnings and Deals? EXTR, WTSLA, SGMS
Are You In on These Earnings and Deals? EXTR, WTSLA, SGMS
04 Sep 2010
by in gambling Tags: eli manning, memories, new england patriots, prime time television, sixth consecutive time, tom brady
As time-tested coaches, grizzled veterans and wide-eyed rookies of the NFL prepare for the fourth and final week of the NFL preseason all across the country, most guys back at home will be slow to move as they ease their way back into the game.
Don’t be that guy. be a player.be the player that’s good and ready to jump into the game.
Your NFL preseason betting this week is headlined by a match-up with enough animosity to fill an hour of prime time television, regardless of whether Tom Brady and Eli Manning suit up for the contest or not. And in order to give the new York Giants/New England Patriots rivalry its due diligence, you’ll need to stay sharp from kick-off until the final whistle blows.
Fresh off a defeat at the hands of the Baltimore Ravens, new York will host the Patriots in a game bound to stir up memories of the 2007 Super Bowl. When the two clubs square off in new York this Thursday it will mark the sixth consecutive time the two teams have closed out preseason together, with each winning a game a piece since that fateful day in February of ‘07. Emotions will run wild in new Meadowlands Stadium this time around, which is why you’ll want to keep a clear head while placing your NFL bets on Bodog this week.
Elsewhere in the NFL, the Miami Dolphins will try their luck in Texas against the struggling Dallas Cowboys. In an attempt to get his disappointing squad up to Week 1 standards, Dallas head coach Wade Phillips has tossed around the idea of playing his starters in one last attempt to get them in season-worthy condition. It’s a bold move that might affect your approach to the preseason finale, so choose wisely when betting online.
One question on the minds of Broncos fans is whether or not first-year quarterback Tim Tebow will feel well enough to play against the Minnesota Vikings after cautiously missing Week 3 with sore ribs. Tebow originally sustained the injury in the opening round of the preseason begging the question of whether or not the former Florida Gator’s wild style of play is well-suited for the NFL.
What’s your call? Close out the NFL preseason on a high note with Bodog.After all, you do have a long season ahead of you. (Can you say, “SWEET?”)
Be a player. get your NFL football game odds, lines, props and futures at Bodog Sportsbook.
NFL preseason week 4
04 Sep 2010
by in gambling Tags: gaming companies, gaming operators, illegal gambling, integrity, jurisdictions
There does not appear to be any discussion occurring about which companies can provide online gambling services to French citizens under the new regulations or whether proposed service providers will be subject to investigations to ensure the integrity of the gaming industry as is customary for land based casino operators in Canada and the US. In Canada or the US, online gambling companies who have or have had any connection with the provision of online gambling services to jurisdictions where online gambling was prohibited by law would never be licensed to operate. why? Because in Canada and the US, the integrity of gambling is paramount and the licensing of an online gambling company that has been convicted of, charged with, or associated with illegal gambling activity would affect the integrity of the whole gambling industry. there is also the issue of unfairness for existing French gaming operators – allowing some foreign online gaming companies to provide services to French citizens where they have profited from providing online gambling in jurisdiction where it is prohibited is unfair to companies who have not engaged in such activity.
Gaming Law International: French to permit (and regulate) online gambling
03 Sep 2010
by in gambling Tags: bookies, lowlife, neighbourhood, notebooks, underworld
WHETHER the latest treason charges against seven cricketers go ahead in the Lahore High Court, this Pakistani team must already feel like death.
Betting in cricket is much like doping in other forms of sport, where the law-breakers are always one step ahead of the enforcers.
Across the Subcontinent in the 1990s, there were bookies dotted across every neighbourhood and their services could be accessed through a recommendation from an old and trusted punter who would act as the bookie’s underwriter.
The entire business worked on trust. Bets were placed over phones or scribbled into notebooks. Accounts were settled every month and in the event that punters did not pay up, a standover man turned up at the front door.
The neighbourhood "chop shop" was the lowest rung of a subversive ecosystem headed by a bigger, more powerful betting syndicate, some with links to the underworld.
Reporters found out that the middle men between Gang Lord and Local Lowlife met the cricketers while posing alternately as "businessmen" or "fans". As part of the ploy, they would resort to extreme flattery while hoping for relatively minor pieces of information. Soon, naive players became entangled in the system.
Gambling on cricket is still illegal, the chop shops still do business but computerised betting over the internet has created new frontiers both for the everyday illegal gambler and men like Mazhar Majeed, who was exposed in the News of the World sting. In the case of Mohammad Asif and Mohammad Amir, the middle man-businessman-fan had morphed into a "player’s agent", who struck good deals, but whose presence from the outside could be deemed suspicious.
Odds on the internet are not fixed by wise individuals operating in isolation but by the thriving market itself, much like the stock exchange. the bear knows a stock is going to fall, so he sells just before it does and buys after the price crashes, making a killing on the margins.
In cricketing terms, the fall of the stock translates into the predetermined fall of a batsman’s wicket which suddenly changes the odds around a match.
Or it could be the sudden flood of runs that lets the opposition back into the game through a captain’s field placings or bowling changes.
These days the really big gamblers do not bet only on results. they gamble in real time, using the internet, making the most of their margins through completely legal channels.
When Mazhar Majeed lined up a stack of pound notes on a coffee table, he was proving his access to a select group of Pakistani cricketers in the hope that the man he thought was a potential client would buy in and begin to bet big. those three infamous no-balls at Lord’s were actually an advertising campaign leading the way to further deals.
The only way the game can save itself now is through equal parts institutional rules and individual shutdown.
- Sharda Ugra is a senior Cricinfo writer
Pakistan's big gamble has failed
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