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

April 10, 2011

Lawsuits Against Gaming Companies

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

Lawsuits which have been filed against International Game Technology, MGM Resorts International, and Las Vegas Sands Corp. are flaring up as shareholders bring the issues back into the lime light. The complaint is that shareholders are angry over the fact that they lost money through shares because certain facts were failed to be disclosed or false information was provided concerning the financial outlook of certain stocks.

The Past Situation

Shareholders in MGM Resorts International, which at the time was called MGM Mirage, filed derivative lawsuits against the company in 2009. This was due to that fact that between August 2007 and March 2009, the stock price declined. The reason why they had brought shares was based on a superior balance sheet supplied by MGM. However, when the company stock fell from around $15 in January 2009 to $1.89 in March of the same year, these shareholders lost a lot of money. The reason for this dramatic decline happened because MGM admitted that there was issues with their CityCenter development which is located on the Las Vegas Strip, to the point that it could face liquidity.

The Counter Argument

Attorneys of MGM Resorts recently made moves to dismiss two lawsuits. Their argument is that shareholders are attempting to blame the company for an economic breakdown which was obviously beyond their control. The credit crunch was a global catastrophe and was felt particularly badly in regions like Las Vegas which saw a massive decline in profits, not only for the gaming industry but also in other areas like real estate. MGM feels that it’s easy for shareholders to now take information provided by MGM before the crisis and claim that they were lying.

Another issue that was brought up by the MGM attorneys is that no specific comments have been quoted. Complaints have been made that particular projections were false and dates surrounding when the CityCenter would be finished were lies. But, they argue, this is what MGM believed was the case before the credit crisis occurred.

As evidence of the effects of the economic crisis throughout the gambling world, MGM are using a chart which shows that this decline was mirrored by three other casino companies at the same time: when MGM Resorts share price fell by 97 percent, Las Vegas Sands’ fell by about 92 percent, Boyd Gaming Corp.’s by 92 percent, and Wynn Resorts Ltd. by approximately 83 percent.

Previous Dismissals

Last year MGM failed to dismiss two law suits filed against Las Vegas Sands. The stock fell in 2007 from $144 to as little as $2 by 2009. Since then, the stocks have increased, partly due to the casino’s dealings with Asia. The decline wasn’t simply because the economy had declined so dramatically but that the company wasn’t doing well due to personal reasons and actually faced liquidity due to how much had already been spent in Singapore and Macau.

March 24, 2011

Rival Software Introduces Opera Themed Online Gaming

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

The online casino platform provider, Rival software, has managed to bring drama and fun to the casino world by launching a vide slot with opera theme. It is called Opera Night.

As you play the game, you come across soft background music as well as graphics that justify the theme. There is a fat lady in the video who sings on an extremely high note that shatters the conductor’s spectacle lens. With every spin of the reels, which are the stage, the opera characters enter and leave.

The Character Charisma

Each character resembles the character of a live opera show. The Phantom of the Opera, an African Queen who shows off her sword, and a Geisha with a waving hand fan are the symbols. You can see a medieval Knight and a sad Joker accompanied with other characters. The pay table of the game symbolizes each character as well as their pays. Many symbols feature animations that come to life when you finish off a winning pay line. The Flamenco dance performed by the Spanish Dancer symbol and the American Revolutionary that proudly signs on the Declaration of Independence make the game more interesting. The Lady from the audience who adjusts her binoculars every now and then makes for an entertaining scene.

Opera Night’s Features

The jackpot symbol is donned by the male singer. He multiplies a grand amount of 2000 coins by the coin number you play per line for around five symbols on a pay line. The conductor symbolizes the scatter. A group of three and more scatters start the free game bonus. You can obtain a maximum of 20 free games. It depends on the number of scatters initiating the game. When you win a bonus game, the amount gets tripled. You can end up with grabbing a big win.

A group of three or more women singers on the reels initiate the second screen bonus. Once the second feature starts, you are directed to a second screen where you see the singer on stage or reel. The glasses are also there. You have to choose a pitch so high that it breaks the glass.

Another fascinating feature of this video slot is the Opera Drop, symbolized by the Phantom. A group of 3 or more Phantoms on the reel start this feature. When the feature starts, the symbol that initiated the feature vanishes and those above drop down to complete more combinations for winning.

The opera themed game is creative and fun. The interesting symbols on the screen make the gaming environment dramatic. This pioneering venture succeeds in adding an element of uniqueness to the game. You can play this slot at any online casino powered by Rival software.

March 23, 2011

Latest Gambling And Casino News

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

My-Play System to Help Problem Gamblers

Here is a very interesting revelation thrown by the Nova Scotia Gaming Foundation recently. Nova Scotia Gaming Foundation is a not-for-profit government organization that supports an independent response to gambling problems in Nova Scotia. The group says there is hope for problem gamblers in the form of software that is specifically designed to prevent non-problem gamblers from becoming addicted.

In 2010, Nova Scotia introduced the My-Play system, a method that consists of players voluntarily using cards that are inserted into VLTs to automatically limit the player’s time at the Video Lottery Terminal to a predetermined duration. The Gaming Foundation extended their study to find out whether this system, namely My-Play System, could help high-risk players too.

Interestingly, the results were encouraging. High-risk players reported they could decrease their play, and control some aspects of their risky behavior. The low risk players, to whom this system was intended, reported no change in their behavior at all. The study is expected to go into its second phase for more findings to see if the My-Play System changes Video Lottery Terminal players’ attitudes and behaviors. Presently, Nova Scotia is the only place in Canada that uses this card system. One of the other countries that use the card system, Norway, has reported a noticeable drop in problem gambling.

Texans Favor Full Scale Casino Gambling

A new University of Texas/ Tribune poll shows that 56 percent of respondents favor full scale casino gambling. This has given a fillip to Texas lawmakers who were actively debating on bringing big time gambling into the state. Texas, facing a deficit of nearly $15 billion this year, is badly in need of additional income, and big scale gambling can fill this gap. Republicans in the state have been traditionally amongst the most conservative lawmakers, resisting any ideas to legalize casino gambling. Legalizing casinos are projected to raise revenue upward of $ 1 billion annually.

Plan For Indian Casino Rejected

The Interior Department rejected a plan to build a casino for Catskills, annulling a deal reached during the ending days of the Paterson administration. This decision is not expected to help improve the relations between the Indian Tribes and the New York State, a condition that is already at low ebb. In addition, the federal government’s rejection to build a $560 million Las Vegas style casino is expected to revive a land claim by a tribe based in Wisconsin.

A Bill Filed For Gambling Cost-Benefit Analysis

In Boston, Senator Stephen Brewer appointed to the State’s most powerful budget writing post is now supporting a legislation championed by anti gambling activists. This bill, if passed, will require a detailed cost-benefit exercise as a prerequisite to introduce slot parlors or casinos. Expanded gambling critics say a cost-benefit exercise is essential, since they assert that studies conducted earlier omitted vital details about the potential disadvantages of expanded gambling.

Some of the issues that the costs and benefits study of legalizing new forms of gambling will assess are:

  • Impacts on communities that host these facilities within a 25 mile radius
  • The increase in revenue to the state, but also the anticipated loss in revenue due to damage in certain businesses caused due to introduction of gambling
  • The effect on the economy due to the jobs expanded gambling create, as also the adverse impact on the existing jobs that predate the expanded gambling.

March 22, 2011

The Greek U-Turn-Makes Gambling Legal

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

The global economic crisis had a profound impact on Greece which resulted in many protests and riots. All this has forced the government to resort to encouraging online gambling, something that it had actively tried to eradicate earlier. During 2002 the government had been trying to do away with online gambling and Greek laws upheld that all gambling done outside licensed casinos would be illegal. This move led to the country losing nearly five million dollars every day. Only recently a draft law came about that made low stake games and online gambling legitimate. This automatically led many Euros to flow into the government treasury. Amusement gaming machines got permits to operate within licensed premises. With these changes, the Greek initiative to legalize gambling as a method for financial salvation seems to have paid off. This increase in revenue will definitely not obliterate high unemployment rates and dramatically stabilize the economy. However, it is indeed a positive step towards a more secure financial future.

Launch Of Arctic Queen Slot

The exciting Arctic Queen slot game developed by Vegas Technology was recently introduced at English Harbor Casino. It is an interesting yet easy game with the Arctic as a background-a cold winter theme with a snowy backdrop that makes for an out-of-the-world experience. The game not only has an amazing backdrop but also stunning graphics and audio effects which make it even more popular. The English Harbor casino has a great variety of online casino games on offer which gives its players the chance to make big money. It is one of the most respected casinos globally and was the pioneer in introducing casino games online so that players from different parts of the world could log in and play. The English Harbour Casino offers games like Joker Poker, Keno, Poker Dice, Dazzling Dice, Deuces Wild, Aces and Faces and so on. The Arctic Queen slot has some unique symbols like the Seal, Igloo, Snowshoes and Huskies. The Arctic Queen signifies the highest payout while the Huskies provide a handsome 5000 coins and all remaining ones award 3000 coins. When greater than three Northern Light icons appear on its reels the player gets free spins. It has a comprehensive Auto-Play feature and you can even adjust the volume

and screen size.

New Launch By 888 Casino

Following on the heels of the highly acclaimed 24 Free Spins Christmas Campaign, the 888 Casino has launched yet another Free Spin Campaign. This is available for all players who have signed up during the promotion period. Those who are new will get an extra seven free spin bonus for each week for a one-year period. No deposits have to be made for getting these free spins. Players are also entitled to receive a sign up bonus to the tune of $200 when they make their very first deposit. This promotional offer is valid for all participants hailing from The Netherlands, Denmark, Canada, Germany, Spain, Ireland, Romania, Switzerland, Austria and Greece. With this promotion, players can get the opportunity to earn as much as $2500 each week. When they fail to log in on a particular day, their spin for that day becomes over and will not be carried forward. When a player fails to log in for a period of six week, his free spins expire. When the player finishes his free spins, the amount he wins gets credited to the player’s account at once. Older players cannot take part in this promotional campaign even on re-registering.

March 21, 2011

Player Hits Jackpot At Major Millions

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

One slots player became the proud and lucky recipient of the Major Millions Progressive Slot jackpot this February. Microgaming paid out an incredible $451,685 to the player – the first hit of 2011 and the greatest ever since the jackpot had been hit back in August of last year. Those interested in playing this game can do so by selecting a simple version or video slot version. The slot games will not be bored playing this casino game which involves five reels and 15 paylines. Players may play using any number of coins ranging from two to fifteen, but to hit the progressive jackpot they will need to wager all fifteen coins.

The game is named after its video slots version where the word “Major” is surrounded by wings and icons like the airplane, secret documents, medals, and binoculars. The maximum bet amounts to 3.00 for both the versions. Players are free to select whichever version they wish to play with because odds of winning are identical in both. The current worth of Major Millions is 408,000. Out of Microgaming’s progressive network, the most lucrative game so far has been King Cashalot followed by Mega Moolah. LotsaLoot has also been thrice this month and keeps climbing as Major Millions ever since the jackpot was hit. Besides these, there are plenty of other fun-filled and exciting online casino slot games which players can try their hands on when visiting the Microgaming online casino.

“Wataa” Lot Of Fun!

Wataa is the newest offering from Vegas Technology – it is a martial art slots game which can be played at all popular online casinos like Crazy Slots Casino, Millionaire Casino and Go Casino. This game involves 25 paylines and players can play it online. It has many unexpected turns and amusing twists which makes it a fun filled and enjoyable casino game that its players love playing. In the game there are two primary characters Trevor and Charlie, the first a bald, fat man in love with junk food and the second a cat who believes it is a human. They are the primary symbols of the game and the characters become alive when players spin certain combinations. Players can wager to $10 a line and the jackpot is $50,000 worth. When a player gets hamburger on reels, the payouts get triggered. You can even get 15 free spins with a bonus round. This game is known for its stunning visuals and awesome audio effects and is so addictive that players find it hard to quit. Watta is fun and comical and definitely worth trying once. It is guaranteed to give slot players a unique and unforgettable experience.

Gold Pay Bids Adieu

Gold pay had started giving online payments to casino players in May 2010 and had successfully created a niche of its own. But recently this e-wallet solution that was being extensively used by online casino players in the United States made its exit. It is expected that all players funds that have been kept in their respective e-wallet accounts will eventually be released back to them once all disputed issues have been sorted out with the federal authorities. Players are obviously worried that they may never get their funds back and they have no real fact as to why this company suspended all gaming related transactions. It is believed that complications arising from the Unlawful Internet Gambling Enforcement Act were responsible for their sudden unexplained exit.

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