The companies said they stopped taking the ads years ago. The settlement was announced by Catherine L. Hanaway, the United States attorney for eastern Missouri, who said the investigation, conducted by her office, the Internal Revenue Service and the Federal Bureau of Investigation, dated to 2000. Negotiations have been going on for 12 to 18 months, she said.

Microsoft’s $21 million portion of the settlement includes a $4.5 million forfeiture, $7.5 million to be paid to the International Center for Missing and Exploited Children and $9 million in public service ads over a three-year period, starting next year.

The public service campaign will aim the message that online gambling is illegal at those of college age and younger.

“We’re hopeful that our educational campaign will stop young people from gambling before they start,” the company said. Yahoo’s $7.5 million share of the settlement includes a $3 million forfeiture and $4.5 million in public service ads over three years.

Google will pay $3 million. A spokesman, Jon Murchinson, said the ads were in sponsored links at Google.com and other Web sites that belong to its ad network. “While we did not admit any wrongdoing, the Department of Justice has advised that online gambling is illegal in the United States, and ads to promote it are improper,” he said.

Net revenues from continuing operations for the third quarter of 2007 grew 7.1 percent to $103.9 million, compared to the $97.0 million reported during the same period of 2006. The growth in net revenues from continuing operations was driven primarily by the Company’s June 2007 acquisition of the AmericaTAB and Bloodstock Research Information Systems advance-deposit wagering (“ADW”) and data-services companies; the May 2007 launch of the Company’s first owned and operated ADW platform, TwinSpires.com; and the improved performance of Arlington Park.

The Chicago-area racetrack experienced larger field sizes and higher pari-mutuel wagering on its races during the third quarter after installing a synthetic racing surface in April 2007.

The Company’s higher net revenues from continuing operations were offset partially by lower net revenues at Churchill Downs Racetrack, which hosted six fewer days of live racing during the third quarter of 2007 compared to the same period one year ago.

Despite hosting four additional race days during the quarter, Calder Race Course also experienced lower net revenues due to heavy rains throughout the summer months that forced 55 turf races, more than one-third of all turf races scheduled during the third quarter, to be moved to the dirt surface. Calder also faced additional in-market competition for simulcast customers from South Florida pari-mutuel operations that already offer alternative gaming.

EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations for the third quarter of 2007 totaled $10.0 million and was relatively unchanged year over year. During the third quarter of 2006, the Company recognized $1.8 million of pre-tax insurance recoveries, net of impairment losses, related to Hurricane Wilma.

Net earnings from continuing operations during the third quarter of 2007 were $1.1 million, or $0.08 per diluted common share, compared to $2.9 million, or $0.21 per diluted common share, during the third quarter of 2006.

Gambling operations on native reservations hire more than 320,000 people, led to $80.7 billion in output to the U.S. economy and generated $11.7 billion in taxes according to the Indian Gaming Industry Report. However, industry experts are not fazed the slowing of growth. Although the growth is slower, at least it is still positive, and many feel that the Indian gambling market has not reached its full potential.

The purpose of Indian gaming is to build and sustain a sort of self- sufficient tribal governments. Many say that this goal has been met, even if some tribes benefited from the arrangement more than others. 228 tribes use revenue from gaming in order to support social services such as health care, housing and education. Of these, 34% of the tribes distribute direct payments to tribal members.

Last year’s revenue from gaming was the lowest since the Indian Gaming Regulatory Act was passed in 1988. The total number of gaming casinos was increased by just one in 2006, to 423. Compare this with an increase of ten in 2005.

In addition, there is more competition from non-Indian gambling facilities, and racetracks with slot machines. Twenty of the 28 Indian gaming states had lower growth rates in 2006 compared with the year before, with California the most notable of those.

Still, every Indian gaming state reported some growth, except for Louisiana, which saw revenues drop from about $402 million to $395 million. A handful of new facilities are being developed by tribes in Michigan, New York, Washington and Wyoming. Many more tribes have planned or proposed facilities that are awaiting federal recognition or an agreement with their states to allow new or expanded gambling.
Tags: Indian Casinos, Racino

China casinos and gambling will head the group with an expected 15.7 per cent increase in revenue to $30.3 billion. Revenue in the US is expected to grow by 6.7 per cent a year, to $79.6 billion in 2011, and maintain its status as the world’s largest casino market.

Gambling revenue in the regions of Europe, the Middle East and Africa will see a somewhat smaller increase of 1.9 per cent, rising from $25.2 billion to $27.8 billion.

Indian casinos brought in $12.8 billion from gambling in 2001, $22.5 billion in 2005 and $25.1 billion in 2006, according to the National Indian Gaming Commission.

“The continued growth is eye-opening considering the tribal gaming industry is still relatively young,” said commission Chairman Phil Hogen.

There are 415 Indian gambling facilities nationwide operated by more than 200 tribes.

Indian casinos are not required to report their profits, and most do not disclose that information, so it’s not possible to determine the tribes’ net income.

Tags: Indian Casinos, Casino Earnings Report

Avigur Zmora, Playtech’s head of business development, said next year’s profits would likely beat analyst forecasts of $88.7 million in pre-tax profits as new markets, technology and games help it recover from the US ban.

“The upgrade in the numbers will probably be in the 2008 results. As far as 2007 its in-line with our expectations the numbers that are out there seems to be okay,” he reported.
Tags: Playtech, Online Casino Software

Chief executive Terry Lanni said “The gang-bangers and others who came for purposes other than attending the game, they weren’t very good for Las Vegas.” He went on to add that there had been ‘little action’ on the gambling tables across the event.

“In talking to our casino hosts, a number of people stayed in their villas and suites. They felt uncomfortable,” he said.

First-quarter sales rose over eight per cent to $1.93 billion.

Tags: MGM Casino Hotel, Las Vegas Hotels, NBA All-Star Game

As a result of the group’s voluntary withdrawal from the US market, the Group has substantially completed the necessary reorganisation and restructuring of its operations to reduce its headcount and align related costs with anticipated revenues of its worldwide business.

This rationalisation programme has focused on the Group’s Calgary-based operations where the principal teams serving the US market were employed. As previously highlighted, transfer volumes and customer enquiries through the Group’s contact centres have decreased substantially since the Group ceased processing transfers for US residents.

Staff reductions will total around 220 employees, across all levels, from the Group’s contact centre and security teams, as well as related support functions in marketing, processing and IT/ product support. Approximately half of the reductions were through the Group’s voluntary redundancy programme.

In addition, as part of the rationalisation of the Group’s UK facilities, it is expected that around a further 30 redundancies will arise from the relocation of the Group’s Gatwick-based operations to Cambridge where they will share premises with the Group’s NetBanx business. This move is expected to be completed by the end of March 2007.

Following these staff reductions, the Group will employ approximately 425 staff across its European, Americas and Asia Pacific operations, down from a peak of over 1,000 during 2006. A further part of the Group’s rationalisation programme will include a review of the Group’s property requirements and may include a sale or partial lease of certain of the Group’s Calgary-located facilities.

As stated in our trading update of 18 January 2007, the total cash costs associated with staff restructuring are expected to be in the region of US$ 1.1 million in 2006 and a further US$ 3.7 million in 2007.