Online Casino Edition – Casino News News about online casinos and gambling

December 31, 2010

Virgin Casino’s Christmas Gift To The Players

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Virgin Casino really knows how to make all its promotions fascinating. The latest invitation to its promotion says, “We’ve gone and kidnapped Santa, so he’s here to treat you instead of flying around delivering presents! Okay, that’s not quite true, but we do have a cracking Christmas gift for you!”

The gift is a £fifty bonus. Below is the process for receiving the bonus.

The Steps:

Primarily, gamers have to register for this bonus by typing in the bonus code, “CRACKING”. After entering the code, they have to make a deposit of fifty pounds. After this, the players have to play 35 times through the deposit on chosen online slots games to earn the bonus. The play can be carried out with the first deposit, winnings or additional deposits. The staking requirements will have to be met before December 26. Afterward, the bonus will terminate. Once the entire requirement has been met, Virgin Casino is going to match the eligible deposit with a £fifty cash bonus.

Games On Offer:

The chosen games comprise of some festive themed slot games at Virgin Casino. Snow Queens Magic and Gift Rap are very suitable for this occasion. Apart from this, other slot games are also very popular among the players. They include Cleopatra, Da Vinci Diamonds, £50,000 Pyramid, Clover Rollover, Wolf Run, Irish Eyes, Cats and Kitty Glitter, and Zodiac Supernova.

Snakes And Ladders:

The aforementioned bonus is not the only gift being offered by Virgin Casino. There is also another Christmas gift, which is of a more lasting nature. This comes in the form of another slot game that is relatively new to the online casino. The game is called Snakes and Ladders and is based on the classic dice board game with the same name. Peppy music, bright colors, and lively animations add life to this game. The Wild Logo symbol substitutes for the other symbols, and proffers an enormous fixed jackpot of 10,000 coins.

Snakes and Ladders are an extremely rich online slot game. If three or more Snake Basket symbols show up on the reels, gamers get to choose one of the symbols that award instant bonuses based on the total stake for that particular spin. The Coiled Snake symbol offers a free spin. Three symbols showing up anywhere on the reels gives 15 free spins, five awards 100 free spins, and four awards 25 free spins. All of the wins triple when the gamer is rolling free spins, which can start the whole process over again. In the casino, the most exciting slot game is Snakes and Ladders, which opens in a new window. This happens when three or more Snakes and Ladders Logo symbols show up on the reels. Players shift the counter on a board as per the rolled dice until they land on an exciting Christmas prize.

Virgin Casino is powered by software from WagerWorks and is licensed by the gambling authority of Alderney.

December 29, 2010

Deustche Bank Now a Casino Operator!

Filed under: Casino — Tags: — OCE News @ 12:00 am

Imagine walking down the famous Strip in Las Vegas and entering Deustche Bank. Not only to withdraw money from an ATM or to perform any other financial transaction, but also to play on slot machines and take up lodgings for the night! Deustche Bank is slated to open The Cosmopolitan of Las Vegas on New Years’ Eve 2010 with the most expensive Las Vegas casino resort in history!

Origin of Deal

The German banking giant has inadvertently entered the glamorous world of gambling. This happened when the recession forced the initial developer Ian Bruce Eichner to default on loans given to him in 2008 to build The Cosmopolitan of Las Vegas. What started off as a small loan to the developer snowballed into a mega eye-popping figure from where there was no turning back?

With real estate prices nose-diving, there were only so many ways the bank could turn. It could either write off the loan or continue what Eichner started in its own vision. At that time Deustche Bank’s stake in the project was $1 billion. The bank was unable to find any other partner to operate the casino. The prospective deals with The Hilton and MGM, among many others, fell through. Then the bank took upon itself the running of the show pouring in a further $3 billion!

The Cosmopolitan of Las Vegas:

• A two-tower building with a crystal bar and a glass facade built on 8.7 acres of land and 75,000 square feet of casino space will welcome visitors.
• It comprises 83 poker tables, 1474 slot machines, and 3000 rooms available for rent.

The Upside:

• Recession on the Strip is said to be hitting rock bottom. Casinos have started making a slow recovery into the green though not comparable to the profits earned in places like Macau.
• Deutsche bank is known to be a classy bank and its reputation will be its main pull. The Cosmopolitan is advertised as a place where you can get away from the stuffy atmosphere of the other casino resorts and enjoy an ambience of undisturbed and extensive opulence.

The Downside:

Deustche bank has already written off $1 billion of the loan disbursed.
There is no prior base of customers to take over. The resort is literally starting from scratch in terms of construction as well as business.
The recession and sub-prime crisis have subjected financial institutions to intense scrutiny and added regulation. Opening a casino in these troubled times could be inviting unnecessary difficulties.

What the Competition Says:

Competitors are concerned that in an effort to ensure room occupancy, The Cosmopolitan of Las Vegas will run down prices, threatening their existing customer base. Even Deustche officials deny contemplating this strategy.
Running a casino is not child’s play as even established players are taking a hit in the rough recessionary waves. As this is not Deustche Bank’s strong suit, there is justified skepticism on chances of staying afloat.

The road to success lies in cashing in on the initial interest that a new entrant in the market is likely to elicit and thereon keeping customers loyal with bonuses and promotions. It will be a cut-throat market place with stiff challenges ahead – Deustche Bank definitely has its work cut out.

December 27, 2010

Harrah’s Cancels IPO; Now Called Caesar’s

Filed under: Casino — Tags: — OCE News @ 12:00 am

The world’s biggest casino operator, Harrah’s, which operates around 50 casinos in the United States and the UK, has cancelled its Initial Public Offering (IPO). The planned issue on offer was 31.25M shares at an estimated price of $15 to $17 to rise approximately $500M of funds. The funds were to be used to add entertainment and dining provisions in existing casinos.

With the huge losses suffered by US casinos because of recession and subsequent reduced consumer spending, these funds were believed to be a welcome breather for the company. In addition, with the stock market indices signaling a thumbs-up for IPOs, it was probably a ripe time to enter the markets for private equity and majority owners of TBG Capital and Apollo Management LP. But the company officials are being tight-lipped about why they changed their mind about the IPO issue.

Also, the 2008 decision to change Harrah’s name to Caesar’s Entertainment Corp, to capitalize on the latter’s brand recognition value among customers, has passed regulatory approvals. It is officially affected from November 23, 2010. Harrah’s owns some of the most well-known gaming tournaments such as the World Series of Poker.

Gambling.com Domain Name for Sale

The domain name Gambling.com owned by Media Corp is now up for sale. It is reported to fetch about $10 million in auction. With online gambling being a new avenue for earnings and land-based casino operators still trying to cope with the mounting losses brought on by recession, the online casino scene is brimming with potential. Along with that comes the necessity for a good domain name that will lure interested visitors. This has already been recognized as the biggest names in the business plan to compete for the name. Media Corp will use the proceeds to enter other aspects of online gaming.

Sedo Holding AG will be the exclusive broker for the sale. They have prior experience selling similar domain names for millions of dollars. The company believes that the traffic and brand recall value of Gambling.com will be largely responsible for the steep price that is expected of it.

Baccarat the Leading Earner for Casinos

Gambling revenues have been largely buoyed by money earned from baccarat play. Interest in the game has led to increased volumes and therefore winnings for the house. This has helped prop up the Strip casinos’ revenue by two to three percent in September 2010. Baccarat earnings are up by 30 percent as compared to September 2009 figures, whereas both slot and table revenues are down.

Baccarat has been the major source of earnings for casinos in Macau as well where gambling revenues are considerable.

A Clampdown on the Gambling Honeymoon in Macau

The Macau Government plans to increase regulation of gambling and casino operators. Mr. Fernando Chui, the Chief Executive of the Government, wishes to encourage other industries and further development in Macau. The gambling industry has brought with it instability owing to the random nature of gambling.

Casinos such as Sands may not be able to post the astronomical profits they have done in the past in the region because of the stricter controls.

Among some of the measures to tighten gambling in Macau, Mr. Chui will no longer allow the land built over the sea to be used for operating casinos. They prefer to promote housing and other developmental businesses and services on this land.

December 25, 2010

Canada’s Latest Casino Venture

Filed under: Casino — Tags: — OCE News @ 12:00 am

Setting up a good and successful online casino in Canada has not been a prospering venture. This can be said based on the downfall seen in Canada’s earlier casino ventures. PlayNow in British Columbia was their last effort at setting up an online casino and that was anything but a complete disaster. Now that Loto-Quebec has decided to launch another online casino site, the cynicism on the part of the people who like to gamble online is something understandable.

This is not one of those situations where a small incident is being played up and you find that in the end a mountain has been made of a small little molehill. The mistake, gross mismanagement, or miscalculation, as a result of which the Canadian government’s online casino sunk, was no small deal. It was no “technical failure” either. The imaginative ones among you should know that nobody hacked into their mainframe either. The problem that came up after the casino site went online was that it was displaying players’ information to other players. Result being that they had to shut down the site the same day it opened. This is nothing but a serious design flaw and requires proper consideration. This was no fluke accident. So yes, people will be pretty chary about gambling on an online casino set up by the Canadian government seeing the precedent. The worst part is that they have not even given it time to blow over. People still remember the fiasco.

Loto-Quebec plans to launch a brand-new online gambling site. The new online casino actually has a very noble aim. Its aim is to give a far more secure environment in which the residents of Quebec can safely gamble online. It is a noble intent but is very ironical too, as last time they seemed to have no security whatsoever. The noble intent is also twofold it also wants to ensure that no underage gambling takes place. That is all very good, but that is just one site on entire World Wide Web. The underage people are getting pretty intelligent, and surely they can look up some alternate online casinos.

Although some may take this to be a very sharp-tongued diatribe or tirade, you must understand that online casinos are a tough nut to crack. Even the best of them get baffled by the intricacies involved in the entire process. Therefore, it would have just been a tad wiser to hold the horses, think things through, and then go ahead with something new. But, they will not do this. And with the fresh memory of their last attempt, this new gambling website just may not find any takers.

As far as this online casino is concerned, people have to see whether it survives or not, or how long it lasts.

December 23, 2010

WSOP Drives Up Visits Online Gaming Websites

Filed under: Casino — Tags: — OCE News @ 12:00 am

October was a busy month on online casino websites, thanks to the World Series of Poker. The traffic to online gambling doubled in the month which is not a surprise. It is a proof of growth of online gambling industry. No matter what the prohibition rules are, US residents are still seeking out sites to place their bets. Though gambling is an issue, most Americans want to learn about online gambling.

Jackpot City Casino on iPad

Now Jackpot City Casino can be run on Apple’s iPad for those who enjoy playing games on the move. Fans of Jackpot City Casino can now enjoy the experience as it has become more accessible through the enhancement of mobile gaming. The games offered on this mobile platform are of high quality and the new gaming software ensures that microgaming has found a whole new niche. The software for Jackpot City Mobile Casino is free for those who are members of the Jackpot City casinos.

The flip-screen functionality of the iPad is an exciting element for playing online casino games. The gaming experience on iPad is enhanced with extra dimensions that are not available on computers and other mobile devices. There are well-known and loved online casino games such as Tomb Raider slot game, Blackjack, Roulette, and Classic Baccarat in addition to Mega Moolah.

New Products Unveiled By Genting

New games that promise more fun, entertainment, and excitement to casino players have been added by Genting Casino. This development is the latest addition to an already long list of games. These are three slot games licensed and branded by Marvel Comics. The games are Elektra slots, Daredevil, and Blade. These are associated with the Marvel Multi-level Mystery Progressive Jackpot with four jackpots available to players on each game. These jackpots don’t depend on the wager amount. These additions are just the beginning and more games are expected.

Gigantic Welcome Bonus at Lucky Nugget

Lucky Nugget, the most acclaimed online casino, is giving new players a big-hearted welcome bonus which is a 150 percent match bonus up to a total of $200 free.

Lucky Nugget have always provided their players with a number of profitable and amusing online casino games, including different games of slots and classic and latest table games. If you are a new player and you make your first deposit of $20, your account will be credited with an extra $30. You can play with a total of $50 and boost your luck. The maximum for this offer is $200, so if you deposit $200 you can test your luck with your favorite games with a balance of $400. It is a great chance for players to make the most of the generous welcome bonus.

Voting for Online Gambling Bill by NJ Senate

New Jersey Senate has voted to allow Atlantic City casino operators to offer online gambling to New Jersey residents. The amended bill allows residents from other countries to wager on Atlantic City sites. But, people living in other states are not allowed to play on the sites.

It the bill is passed by the New Jersey State Assembly and signed into law by the Governor Chris Christie, New Jersey would be the first state in the United States to offer licensed intra-state online gambling.

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