Coral is one of the largest gaming giants within the UK. Today the UK Gambling Commission warned Coral after Coral was found guilty of money laundering that was linked to a drug ring. Over one million euro’s was laundered through Coral.
This case came about when a man entered the Coral betting shops and put one millions Euro’s in cash on certain bets. Coral made ninety thousand Euro’s off of commission. This man was then considered to be a valuable betting client and was given a free day at the racetrack of his choice.
The United Kingdom Gambling Commission question Coral for not asking the man about the amount of money he had just placed into their systems. Coral is obligated to report any huge amounts of money that is over ten thousand euro’s. When Coral didn’t report this one million euro deposit some questions arose. The UK Gambling Commission said that no or little challenge was made in questioning the man about his deposit. This has resulted in Coral being warned and now being watched for any future money laundering.
The defendant for this case has not been named yet and as of right now we know that he is currently awaiting his sentence. This man will be sentenced with conspiring with a drug ring. He will most likely serve ten to fifteen years in prison for his actions. This is one of the largest amounts of money to ever be laundered by a drug ring.
888Poker is an online poker room that has dominated the online gambling industry for years and today they announced that they’re going to start a new practice that will ban any player who preys on the less inexperienced video poker players. The reason for this is because any new player who signs up with 888Poker will be targeted, those players will lose their money and no longer want to play at 888Poker.
This isn’t what the poker room wants as it means only the same professional players will be accessing their poker room, by banning these bum hunting players more new players will sign up with 888Poker and love the experience they have while playing at the poker room.
Bum Hunting is one of the most frowned upon things you could do at an online poker room and it has been banned at a variety of different poker rooms. The other poker rooms have seen major growth in new players and 888 holdings expects the same thing with their new banning of bum hunting players.
A company representative for 88Poker commented on this news saying, “We have the right to take action on our own website against players who are simply looking for a simple win and to basically rob new players blind of their money. This is not what 888Poker is about and we look forward to removing all of those players who bum hunt off of our website in the coming weeks.”
The largest search engine in the world Google might be interested to try to buy the huge online gambling giant Bwin.Party Digital Entertainment. This rumor can be found at this moment in several different media outlets out there.
It all started back on Thursday when Geoff Foster from This is Money has stated this for the first time. After that things went a little bit crazy and the story was picked by many other news sites. The rumor went wild, since it even appeared the number of the offer that Google intends to pay for the company. The news website also claimed the fact that Google wanted to make an offer for this online gambling company right before the state of New Jersey is going to launch the online gambling operation, which is planned to happen in November.
Bwin is currently working on offering both online poker and casino games in the state of New Jersey and this will be possible only later this year. They have already made a partnership with MGM Resorts and Boyd Gaming.
However both companies haven’t sent any comments regarding this. This means that we will keep you up to date with the story in case anything new happens.
The Division of Gaming Enforcement from New Jersey has just released to the public the numbers regarding the revenues from Atlantic City for the month of August. The number one thing you can notice is the fact that the revenues went down by 4.8% compared to exact same month in the year 2012.
The total number of revenues for the month of August 2013 is 4.8% lower compared to the same time period of last year. At the same time, the year to date revenues are also down, since in 2012 it was $2,165,233,990 and now in 2013 the number is $1,973,173,496. At the same time the predicted sum of money that will go into online gambling will reach $2.7 billion and it’s also down the 7th consecutive year.
These numbers are not looking too great for the gambling market in Atlantic City. One of the biggest hopes of increasing the gambling that is done in New Jersey is the fact that online gambling is able to bring some additional revenues since the new legislation will make it legal on November 23rd.