Casino Watch - June

16 May 2007

Business Up For Harrah's and Wynn

Harrah's Entertainment Inc. reported continued success this month to the tune of $2.6 billion in revenue, including a profit of $185.3 million that was up from last year's $182.4 million for the same period. While adjusted earnings ($0.88 per share) were lower than the expected $1 per share predicted by Wall Street Analysts, Harrah's fostered expectations for growth by announcing the first wave of World Series of Poker-branded events in the United Kingdom. The events are scheduled to start in September with Europe's largest-ever pool of prizes.

Competitor Wynn Resorts also showed success in the first quarter, reportedly due to new business from the Wynn Macau bolstering that of Wynn’s Las Vegas operations. Wynn reported revenue of $635 million, up from $277 million last year.

Cryptologic Obtains Rights for Popular Puzzle Game

Cryptologic has obtained exclusive rights to create the first slot version of JewelQuest for use in its online casinos beginning in June 2007.

Betfair Revamps Poker Site

Betfair announced this month that it would rename its poker site “Betfair Poker Plus” after a series of software updates. This is the twelfth update in the site's history. Betfair plans to mark the occasion with an online Poker Game Show featuring prizes totaling $50,000.

Everest Upgrade

Everest Poker has recently upgraded its multi-lingual poker software. "We've listened to our players and made it a breeze to find a poker game that suits their ability and bankroll," said Everest property manager Jonathan May.

NetEnt to Supply Three with Software Solution

Sweden-based Net Entertainment has agreed to supply BetUnited, Tower Gaming and Wauw Gaming with its CasinoModule software solution. "The continuing success in closing new agreements shows the strength in what we can offer and a result of our new generation of games delivered during 2006," said CEO Johan Öhman.

Tough Q1 for WPTE

World Poker Tour Enterprises (WPTE) has released first quarter results. The company said revenues for the quarter were down 30 percent to $4.5 million from $6.5 million in Q1 2006. It said the loss was primarily a result of it having delivered fewer episodes from its televised poker series. WPTE also reported a net loss of $2.3 million, or $0.11 per fully-diluted share, compared to net income of $3.6 million, or $0.18 per fully-diluted share, in Q1 2006. Highlights included its deal with CryptoLogic, announced in April, to re-launch its online poker room and casino. "The CryptoLogic deal is a positive step forward for our online gaming division as it ensures that starting with day one of our online gaming re-launch there will be ample liquidity available for our customers on a stable and proven platform," said WPTE CEO Steve Lipscomb.

Yahoo Launches Online Poker

Online search engine Yahoo has partnered with St. Minver and Boss Media's International Poker Network to launch real-money online poker on

Casino In-Flight

888 has announced an agreement with DTI Software (DTI) to launch an in-flight casino product, featuring blackjack, slots and roulette. 888 said the games will be available both in real-money and free-play format on numerous international airlines. "By partnering with DTI, the clear in-flight entertainment market leader, we are redefining interactive gaming in flights and expanding even further our global reach," said 888 CEO Gigi Levy.