Casino Icon Steve Wynn recently spoke in an interview concerning the lifeline of Las Vegas based on the current stimulus package presented by President Barack Obama. Although the new stimulus package is reported to bring $1.5 billion (of a $787 billion package) to the state of Nevada, Wynn doesn’t believe that this will solve the state’s problem.

“I think a great percentage of the stimulus has been wasted. It didn’t do what it was supposed to do,” Wynn said. “We did not create jobs. Nothing I’ve seen has been a job creator.”

In an interview with the Las Vegas Sun columnist, Jon Ralston, Wynn revealed that a change in tax structure could be one of the best ways to create incentives for companies to create new jobs.

“If you wanted to create jobs in every sector of this economy and every community … you could do it in less than a month without hiring any federal employees,” Wynn said. “You’d simply say if a company can prove that it has increased its regular work force, with health insurance … we will give you a tax credit to support the payroll of that new hire.”

In an effort to practice what you preach, Wynn created over 4000 new jobs last year. These jobs did not come without a price, however. The work weeks were reduced, salaries for full time employees were also reduced, 2009 bonus were cut, as was the matching of a 401K program.

Wynn said that it would be a bad decision for Gov. Jim Gibbons to go after the gaming industry for more taxes. “I know that if they go after the gaming industry we will have massive, unbelievable cutbacks. The unemployment rate will go to 15 percent,” Wynn said.

Online Lottery Tipp24 has been hit with hard times. Lst month they claimed that they were greatly affected by the new German State Treaty On Gaming. Since that time, Tipp24 based out of Hamburg, Germany had to let go 139 employees.

”Tipp24 has decided to scale down its Executive Board and greatly reduce our headcount as a consequence of Germany’s new State Treaty On Gaming,” read an announcement from Tipp24.

“We are forced to lay off the majority of our staff as the new State Treaty On Gaming forbids us from any form of lottery brokerage via the Internet in Germany,” said Jens Schumann, Chairman of the Executive Board for Tipp24.

This is a significant decrease in employees since they had to release 139 of 154. Two members of the Executive Board upon sensing the drastic changes decided to retire.

The legislation passed went into effect on January 1, and created a downward spiral for many German online casino companies. As a result, Tipp24 has turned to London to commence its online business affairs.

“The majority of these jobs will probably be replaced by new ones abroad where the restrictions do not apply. At the same time, as the German state is spending billions to save German jobs, it is also destroying the jobs of a healthy, mid-size company with a law which contravenes European Union legislation.”

“Moreover, Tipp24 AG transferred around €130 million in tax revenues to the federal states last year alone. This money will now no longer be available to the state.”

“It seems more likely that the State Treaty is designed to eliminate private companies under the pretext of preventing addiction,” said Schumann.

“After all, controlling addiction would be much more effective via the Internet than at the lottery kiosk. We will, therefore, continue to take legal action against the new State Treaty.”

Only 15 employees will remain in the headquarters office in Hamburg in order to maintain the business, and continue the shift to London.

TableMAX Gaming, Inc., a division of the TableMax Corp. has recently signed a deal to put Progressive Blackjack(R) at the spotlight 29 Casino in Coachella, California. TableMAX is known for the development of electronic games, as well as designing, engineering , and distributing these electric casino games throughout the world. This deal is one of many that recently been negotiated in the area including the addition of two ePits(TM) at Fantasy Springs Casino in Indio and a Progressive Blackjack System at Red Earth Casino in Salton Sea Beach.

In attempt to keep the spotlight 29 Casino flourishing, director of slot operations Tom Sedlock said, “There is always something fun and new happening at Spotlight 29 Casino, and Progressive Blackjack is definitely fun and new. We liked the game as soon as we saw it at the Global Gaming Expo, and we are excited to have it up and running for our players.”

TableMAX has already made a name for itself by owning the rights to games such as Progressive Blackjack, Caribbean Stud Poker, Caribbean Draw Poker, Texas Hold ‘Em Bonus(R) Poker and Bonus Blackjack(R).

“Casinos across North America, particularly Tribal casinos, have caught the exciting TableMAX vision. We are thrilled with the response and look forward to presenting our games to Tribal operators at next month’s NIGA trade show,” stated Stephen Crystal, chief executive officer for TableMAX.

Crystal also stated on the TableMax website,” “We are very pleased with the quick progress we are

making in Oklahoma and in other jurisdictions across the country, such as California. What we

are most happy with is the positive response operators are getting from their players. Operators

tell us their players love the games, and we believe that is the reason for the rapid expansion we are experiencing.”

The progressive jackpot Slotland.com was conquered earlier this month, resulting in a record-breaking $200,111. The jackpot was won at a video poker site who goes by the name “FORGOMO.” The player whose total value was over €150,00 this sum at the heavy-metal slot machine.

“I never dreamed I’d pay off my mortgage with an online slots win,” stated the winner. “I just make small bets and win a few dollars once in awhile. Now, let’s just say I’m not going to lose any sleep over my credit card balance!”

FORGOMO had been away from the slot machines after being a consistent casino player years prior. Recently he decided to return to the slots to once again try his luck. Clearly Lady luck was on his side this time.

The former casino record for this jackpot was a Canadian player who, almost a year to the day, won $195,083 which is roughly equivalent to €126,910. This record was set on the treasure box game and now has been bested by the heavy-metal slot machine.

Slotland has seen many large jackpots in the recent past. Last December I jackpot was hit with a payout of $110,125 roughly equivalent to €87,728. The player known as ZONARIZ achieve this goal by playing the video poker game Striking 7s.

Last year the Slotland jackpot was won approximately once every six weeks. Due to this consistent streak many casino players anxiously awaited this current jackpot. The anticipation built up by the lack of winning in the past two months only cause a greater stir as the jackpot continued to rise thus creating the largest record-breaking jackpot payout.

Slotland jackpots are not the largest online casino jackpots on the Internet, however due to the frequency of their winning many players are drawn into the excitement and anticipation.

You never know what to expect when you’re dealing with sin city. The Las Vegas Sands Corp. may possibly be ready to fold or might just be playing the biggest bluff of all time

Executive Vice President Brad Stone recently relieved himself of the duties as head of the company’s construction division. So makes it the second high-level person to leave the company behind this month alone. The first high-level officer to leave was President Bill Weidner, who was asked to resign on March 8.

Currently the Las Vegas Sands is under construction on the $5 billion for Rena Bay Sands in Singapore. This structure, which is hoping to open by December this year is a pivotal factor in increasing the future of tourism in Singapore.

Joe Greff, a gaming analyst for J.P. Morgan, told investors at: “Losing Brad is a big deal.” According to Greff, stone was a major player in construction of a casino.

Justice Stone is finding his way out the door, he has been revealed that the Las Vegas Sands Casino has been in talks considering an $800 million debt. Sheldon Adelson, current chairman and chief executive officer said that he was still evaluating the idea, according to the Associated Press.

The opposite polarity of these two decisions has caused great confusion in the casino market. Clearly the loss of Stone, is a huge blow, especially when considering Singapore’s position, however the idea that they could buy back their $800 million debt appears to show they are moving in a positive direction.

Once this information was revealed shares of the Las Vegas Sands shot up causing analysts to question if there really is a more positive direction they’re going in. An investment analyst from KDP, Barbara Cappaert mentioned, “It is a prudent move, and one, depending on price, that could be fairly successful.”

One way or the other, the and the Sands is keeping people on their toes about the decision-making process which will likely keep them protected throughout the coming months.

The Spanish market continues to grow online casino gambling and expand its force throughout the world. One marketing firm, CMedia 2007 SL, as its recently acquired a new gaming network they’ll expand its reach into foreign markets.

CMedia recently revealed its acquisition of MediaGambling online gaming network. This acquisition was critical to the global market as it has over 500,000 unique users spanning many countries such as Spain, France, Italy, Germany and parts of Latin America.

MediaGambling was launched out of Uruguay in 2002 and included over 600 representative brands. The founders, Maximiliano De Muro and Enrique Dubois focused their strength on foreign markets and continued to expand their unique online casino users.

Some of the common sites established by Muro and Dubois included PokerGratis.es, BingoGratis.es, ComoJugarPoker.com, JuegosDeCasinoGratis.com, JuegoMundo.com and JeuxDePokerGratuit.com.

Since the acquisition of MediaGambling, Cmedia has increased its ability to serve foreign markets in multiple languages and said its goal of achieving 1 million unique monthly online users, thereby dominating the Spanish market.

“The MediaGambling network acquisition is a response to our company’s objective of becoming a leader in the Spanish gambling world,” said Christian Khoury, Chief Executive Officer for CMedia.

“For this purpose, MediaGambling´s faithful and solid traffic volume will join with CMedia offering us new markets in Spain, France, Italy, Germany and Latin America.”

”I am very proud that such an innovating company as CMedia with so much potential has chosen MediaGambling, a project we started with sacrifice and humbleness seven years ago and, at present, counts with millions of unique visitors per year,” said De Muro on behalf of MediaGambling.

“The MediaGambling acquisition is evidence of the project’s great success.”

We’ve seen this system in many networks throughout the world. New partnerships occur almost daily, showing strength in the online casino community and allowing strong forces to arise as the competition continues to stiffen.

Cryptologic has been in the news a lot lately and then continuing to improve and cultivate relationships with other online gaming network. Recently the logic, based out of Dublin, has joined forces with The Gaming Network. The Gaming Network or TGN is based out of the United Kingdom and is a power player with their online casino software.

In a recent agreement CryptoLogic will be The Gaming Network’s exclusive supplier for the casino software downloads. Besides the downloadable software CryptoLogic will also provide casino games of the non-download variety.

Brian Hadfield, President and Chief Executive Officer for CryptoLogic stated that, “CryptoLogic’s casino software is both highly popular and highly profitable and today that earns us the confidence of yet another European customer.”

Cryptologic is familiar with creating these partnerships as they have spent the better half of March signing deals with other networks in order to maintain their status as a powerhouse in the online casino industry. Considering this particular agreement, Hadfield said: “It’s significant that through one agreement, CryptoLogic will supply Internet casino software to several leading brands and that will add to our revenue and profitability in late-2009 and beyond.”

Andrew Branscombe, Chief Executive Officer for TGN, has a high opinion of cryptologic software. “We are very familiar with CryptoLogic’s innovative and entertaining casino software,” said Andrew.

“We are extremely pleased to be using these industry-leading games on the brands we operate beginning with Lottery.co.uk. We look forward to hearing the feedback from our players and to introducing the full suite of CryptoLogic games on our other popular sites.”

“This deal with TGN puts CryptoLogic’s casino games on successful, high-traffic sites in markets where we continue to grow and that fits in perfectly with our business strategy,” said Justin Thouin, Vice-President of Product Management and Business Development for CryptoLogic.

In CryptoLogic’s constant expansion, they continue to maintain the respect in the online casino industry as well as winning multiple awards. This is why they have won the Top Casino Software prize four years in a row.

Most online casino industry experts agree that online bingo is probably one of the fastest growing sectors of the industry. And the upcoming Online Bingo Summit certainly gives credence to the experts’ opinions. The Online Bingo summit made its entry onto the scene in 2006 – and now, just four short years later, it serves as a marker for just how popular online bingo has become.

In 2006, attendance at the Online Bingo Summit was about 85 companies. In 2007, the number nearly doubled. And in 2008, 250 companies attended. This year’s summit is expected to be well over 350 companies – a marked increase. The numbers released by the organizers of the Summit don’t reflect the hundreds of gaming affiliates expected to attend – only the companies participating.

The Online Bingo Summit has become a huge networking opportunity for online bingo room operators and webmasters, as well as the perfect platform for discussions about the current state and the future of the online bingo sector. The partnerships formed at the Summit help get bingo brands out to the growing number of gamblers that are interested in giving internet bingo a go.

Gloucester Hotel in Kensington, London, UK will host the 2009 summit from June 16th through June 17th. Items on the agenda of events include “Bingo Affiliate Zone”, new forms of online betting (like TV gaming and mobile bingo gaming), and a section for European updates on gambling regulations.
Online Bingo Summit attendees can also count on some big networking bashes as well. Today’s bingo is strategically geared toward thirty-somethings, so a large portion of attendees will be looking to have some fun at the Summit, as well as to take advantage of business networking opportunities.
U.S. Players can give online bingo a try by checking out the World Bingo Network’s bingo rooms which are open to U.S. players.

The online gambling sports and horseracing community in France could be getting larger. Athens based developer and supplier of gaming and transaction processing systems, Intralot, is possibly planning on bidding for a betting license.

Reuters news has reported that Constantinos Antonopoulos, Chief Executive Officer for Intralot, has recently told reporters from Imerisia, a Greek financial daily, that his firm is planning on bidding for the French operating license for online casino gambling.

Antonopoulos said, “For Intralot, liberalisation of the online betting market in Europe is a big opportunity as our company has the structure, know-how and necessary presence to take advantage of the opportunities.”

Intralot is the world’s second largest online lottery provider. Just last week, France’s Budget Minister Eric Woerth revealed a new draft plan for the country’s betting market. The plan would open doors to foreign competition with 2010 being the target year for the first wave of online betting licenses.

Woerth stated that the gambling market in France would be opened and expanded to adapt “to Internet reality” and help France “get out of an unsustainable situation in which the State is losing a growing part of the betting market.”

His plan is widely believed to also be a response to the threat of a lawsuit in 2007 when the European Union demanded that states end state gambling monopolies. The lawsuit was threatened by the Union in order to get states to comply with the bloc’s competition rules.

The gambling industry in France, which includes online gambling, casinos, lotteries, and horseracing generates about $6.3 billion a year in taxes. Woerth’s plan factors in a tax of 7.5 percent on online sportsbetting and horseracing bets, along with a two percent tax on Internet poker bets. The plan is scheduled to be presented to the French Cabinet at the end of the month.

The official word has been revealed in the naming of a new board member for the International Game Technology. Patti Hart has been chosen as the president and chief executive officer thereby replacing 43 year old, TJ Mathews. Matthews will stay on as the chairman of the board but has resigned from his positions of president and Chief Executive Officer.

Hart is no stranger to the board as she has served the Board of Directors since mid-year 2006. According to plans and with the approval of the board heart will take over as early as April 1. “While the industry is facing challenging economic headwinds, I am eager to take on my duties as the CEO and help maintain IGT’s position as an industry innovator,” said Hart.

Matthews appears to be in support of the decision as he was quoted in a statement saying: “In Patti, the CEO search committee saw a unique combination of executive-level management expertise, an intimate knowledge of IGT through her years of service on our board.”

Hart has held several executive positions at Pinnacle Systems, Excite@Home, Telocity Inc. and Sprint Corp as well as holding the position as director for Korn/Ferry International Inc. and Lin TV Corp.

IGT is in a similar situation as many casinos and companies within the industry. The economy has shown a tremendous decrease in revenues and earnings. IDT profit alone declined 42% in one year and revenues fell 7%.

Analysts claim that the casinos should have used their money to reinvest in new equipment, thereby drawing in more players. Another reason analysts claim affected IGT was their lack of transition from server-based gaming technology. Although server-based gaming technology is slowly creeping into the market, IGT continues to exploit this technology in slot machines.

Also, IGT has faced in recent employee cuts due to the lack of revenue and profits. 10% of the company workforce has been reduced, thereby reducing the annual cost by $100 million.