October 31st, 2009

Greens attack ‘casino capitalism’

Another story from the BBC:

The "excesses of casino capitalism" are to be attacked by Patrick Harvie, the co-leader of the Scottish Green Party.

At the party’s weekend conference in Dumfries the Glasgow MSP will take aim at the four main parties.

The meeting has the theme "Green - the Colour of Money" and Mr Harvie will put forward a vision for a society which values wellbeing over wealth.

Donald Trump’s plans for a new tourist resort north of Aberdeen will also form part of the agenda.

Posted by casino man in Gambling News at 3:43 PM GMT

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October 30th, 2009

Losses widen at Las Vegas Sands

Another story from the BBC:

Las Vegas Sands, the hotel and casino operator, has announced increased losses between July and September as US punters spent less during the downturn.

The company made a loss of $123m (£74m) during the period, almost four times the $32.2m loss it made a year earlier.

It also said increased income taxes contributed to the bigger loss.

Despite the loss, overall revenue rose by 3.2%, to $1.14bn, helped by strong spending by gamblers at the company’s Macau casinos in China.

Posted by casino man in Gambling News at 9:43 AM GMT

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October 26th, 2009

Ladbrokes in successful cash call

Another story from the BBC:

Shareholders in Ladbrokes have agreed to buy more than 95% of the shares offered in a £375m rights issue.

The company had announced plans for the cash call on 8 October to cut its debt.

Ladbrokes has seen revenue fall in recent months, hit by "exceptionally low" margins on football bets, due to a low number of Premier League draws.

Of the 96 games played so far in the top division, only 15 have been draws. Most customers bet on wins so bookmakers have faced more payouts.

Posted by casino man in Gambling News at 1:43 PM GMT