New Stuff -- Australian scholar Justin Wolfers, a faculty member of Stanford Graduate School of business, suggests that observing bookmakers' odds on an upcoming election may be the best way to accurately predetermine the outcome. Wolfers and Andrew Leigh of the John F. Kennedy School of Government at Harvard have co-authored a study examining the effectiveness of three tools for forecasting the outcome of Australia's 2001 federal elections: economic modeling, opinion polling and betting odds. The outcome of their research: "Particularly in marginal seats, the press may have better served its readers by reporting betting odds than by conducting polls." The study focused on Northern Territory-based bookmaker Centrebet's handicapping of the reelection of Prime Minister John Howard. Wolfers, an assistant professor of economics, used to work for a bookmaker in Australia.
Makin' Deals -- VirtGame Corp. announced today that it's coordinating its software platform with the Nevada Racing Hub, owned and operated by Las Vegas Dissemination Company (LVDC), and integrating the technology with existing terminal hardware. VirtGame announced Aug. 6 that it had signed a five-year exclusive distributorship agreement with LVDC. Through the latter agreement, the two companies have been working to deliver a complete software solution and pari-mutuel services package to all the race and sports books in Nevada. ... Yorktown Ventures Inc. has sold its share of GambleGoddess.com, a portal and information site for women who gamble online, to eCash Services Inc.
Bit from Vegas -- The producers of last month's Global Gaming Expo in Las Vegas reported today that the show, in its second year, experienced a 53 percent increase in attendance. According to preliminary non-audited attendance figures, 13,237 delegates attended the event, which was held Sept. 17-20. The official attendance number for last year's inaugural tradeshow was 8,653.
Names and Faces -- Penn National Gaming Inc. today announced the appointment of Jordan Savitch as senior vice president and general counsel. Prior to joining Penn National, Savitch served as a director and in several senior management positions at iMedium Inc., where he played instrumental roles in developing the business, raising capital, structuring financings and partnerships and building strong customer relationships.