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Wednesday, October 26, 2011
PartyCasino Wins Media Man 'Online Casino Of The Month' Award
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PartyCasino.com has been awarded the Media Man and Casino News Media "Online Casino Of The Month" award.
PartyGaming's igaming suite has grown a custom to winning awards since they first opened for business in 1997.
The competition for the coveted award was intense again this month with massive bids from both WPT Casino Captain Cooks Casino, Virgin Casino, Betfair, PKR and Noble Casino however there can only be one winner... ladies and gentlemen, that's PartyCasino.com
The award follows PartyPoker's EGR Poker Operator Of The Year and PartyGaming also made the shortlist for EGR Operator Of The Year. Recently Bwin.Party Digital Entertainment's PartyPoker.com also won the Casino News Media "Online Poker Website Of The Month".
The Media Man - Casino News Media accolade is based on a combination of elements including user experience, innovation, trustworthiness, customer service, gameplay, affiliate program offerings, newsworthiness and company values.
PartyCasino.com is one of a number of Bwin.Party Digital Entertainment brands.
The most popular PartyCasino.com games of late include Heist, Circus, Rambo, Palladium Slot, The Godfather, Sinatra, Slotbox, Call Of Duty 4: Modern Warfare, Mission: Impossible, The Terminator, Cleopatra, Sinatra, Thor, The Incredible Hulk, The Amazing Spider-Man, Monopoly, Resident Evil, Melon Madness, Wheel Of Fortune and Mega Fortune Wheel.
The PartyCasino.com jackpot is currently approaching the $2 million mark. Players can also compete for The Big One and Marvel Hero Jackpot, playing the Marvel super hero themed online slot games.
PartyCasino's most recent game releases include War Of The Worlds, Atomic Fruit, Aztec Gold, Sin City, Robin Hood, Shaaark! SuperBet, Crocodopolis, Alice's Wonderland, Glamour Puss, Super Cubes, Heist, Palladium Slot and Circus Slot.
Bwin.Party Digital Entertainment Co CEO Jim Ryan has gone on record advising PartyCasino will soon feature more Hollywood blockbuster themed slots. A few in the know journalists and media agents have been recently tipped off that an all time classic movie adaption will be showcased in the PartyCasino portfolio within 1 month. PartyCasino has the world's most impressive line up of Hollywood themed games, and more are just around the corner.
PartyCasino.com and PartyPoker.com customers can also benefit from rewards and bonuses via PartyPoints and the Palladium Lounge. Be certain to check out the PartyCasino exclusive "Cash Machine" that is being championed as one of the greatest online casino promos ever.
Media Man, Casino News Media and Global Gaming Directory do have a b2b relationship with Bwin.Party Digital Entertainment, as they do with dozens of other companies in the gaming, igaming, media and entertainment industry.
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Thursday, October 20, 2011
Bwin.Party Digital Entertainment Betting On United States, by Greg Tingle - 20th October 2011
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Jim Ryan, the co-chief executive of Bwin.Party Digital Entertainment is a very busy man.
In fact, he's invested three of the past five weeks in the United States pushing a presentation that advertised to investors the strengths of the world’s largest publicly-traded online gambling - gaming firm. Ryan’s presentation included a one-page chart that listed the top online poker brands in the U.S. market. The names of once fierce competitors PokerStars and Full Tilt Poker, were crossed out in red. Is Party the only real game left in town? Time will tell.
“Where you see the red lines, those organizations have been indicted, so although one can’t predict the future, it’s unlikely you will see those brands back in the U.S.,” Ryan said during an interview. “The brand that has the most consumer awareness is in fact the PartyPoker brand.”
Ryan’s company happens to own both PartyPoker and the World Poker Tour, two of the top online poker brands that did not have their U.S. operations shut down by the U.S. Justice Department in April because they were not facilitating for-money online poker play in America—in the case of PartyPoker since 2006. They also own PartyCasino, a top online casino destination website. The fact that Ryan, who is based in Gibraltar, has recently been spending so much time in the U.S. demonstrates he is optimistic and hopeful for a U.S. comeback. “My focus is on the U.S.,” says Ryan, who is in the final stages of negotiating partnerships with two U.S. companies. “Even though there is no guarantee that online gaming will ever regulate in the U.S.”
For years Ryan and his staff at PartyGaming, which merged with Bwin earlier this year, had to sit on the sidelines, watching how much money PokerStars and Full Tilt Poker were snatching. It was a difficult thing to watch for the top brass and workers at PartyGaming, which was the biggest online gambling company in the world thanks to its domination of the U.S. online poker market until Congress passed the Unlawful Internet Gambling Enforcement Act in 2006. PartyGaming exited the U.S. market and saw its stock price take a massive hit, while PokerStars and Full Tilt kept their U.S. facing .com websites on air. Party competitors enjoyed somewhat of an unfair advantage, with the rouges using the U.S. market to expand globally at PartyGaming’s expense. “We were beyond the point of frustration,” says Ryan.
Next PartyGaming struck a non-prosecution agreement with the U.S. Attorney in Manhattan, paying $105 million and admitting its U.S. operations had for years violated U.S. law. Meanwhile, PokerStars and Full Tilt continued to operate in the U.S. and claimed that their U.S. operations did not violate U.S. law, pointing to legal opinions the companies had received from top American legal eagles. To many, it appeared like PartyGaming had given a lucrative business away. Even at the company’s headquarters there were doubts until April 2011, when federal prosecutors in Manhattan closed down the U.S. operations of PokerStars and Full Tilt, naming them illegal gambling businesses, and indicted some of their key execs. "I think Party has been vindicated now in getting out when they did and in dealing with the Department of Justice," says Behnam Dayanim, a partner at Axinn Veltrop & Harkrider, who negotiated PartyGaming’s agreement with federal prosecutors in downtown Manhattan.
With all that said, Bwin.Party Digital Entertainment is not exactly holding a management party quite yet. It's so close, yet so far, from reclaiming online poker’s crown. Operating in highly-regulated and taxed European markets while competing against well-run companies like PokerStars is not for the faint-hearted. Bwin.Party’s stock, which trades on the prestigious London Stock Exchange, has dipped by 50% in 2011. Big corporate mergers can be problematic, but the outfit has also suffered a setback in Germany, where the nation’s top civil court recently decided to uphold an online gambling ban, and been dissed by higher gaming duties across Europe. When the company attempted to take advantage of the April U.S. shutdown of PokerStars and Full Tilt, Bwin.Party found that while some new European players were attracted to its poker brands, revenues remained flat-ish. It wasn’t until Full Tilt’s European regulator suspended Full Tilt’s license in late June that Bwin.Party’s increased advertising and promotional expenditures started to pay dividends. PartyPoker is now the second-biggest online poker room in the world, according to PokerScout, averaging 4,150 cash players during any given time. PokerStars has 22,800.
Ryan, who joined PartyGaming as CEO in 2008, has been waiting for this moment for what seems like forever. He long ago took Bwin’s Norbert Teufelberger to a McDonald’s in La Linea, Spain, and chatted to him at length about the pros of combining Bwin’s strong online sportsbook business with PartyGaming’s poker brands, resulting in the merger that was first announced in 2010. Ryan also fine-tuned his company’s business-to-business capabilities over the last few years with an eye toward finding a U.S. partner with whom he can re-conquer America. "We had to be realistic about where we sat in the food chain," says Ryan. "We figured if the U.S. regulated it would be unlikely that we would secure a license directly, that the laws of the land would be written to allow existing land operators and equipment manufacturers in the U.S. to secure the licenses." Ryan is optimistic about current efforts in Washington, driven by the American Gaming Association and powerful casino companies like Caesars Entertainment and MGM Resorts, to potentially get some sort of online gambling legislation through a divided Congress. Ryan notes he is also preparing for the possibility that online poker gets regulated first on a state-by-state basis.
"We have to be ready for both federal or state," he says. "It feels good to have American taxpaying companies finally driving this.".
If an offshore operator is to succeed in American, Bwin.Party Digital Entertainment looks like the firm to place bets with.
Bwin.Party has identified Australia and New Zealand as places to further expand their business, even sponsoring high profile poker players such as Tony G and Stewart Scott (a former Crown Casino 'Aussie Millions' champion.) PartyPoker is one of a number of rumoured brands set to take over the sponsorship spot at James Packer's Crown Casino that FTP once enjoyed. Party look to have as much chance as anyone, probably more so.
In the meantime, poker and casino game players in regions such as Australia, New Zealand, Canada, Italy, South America, South Africa and beyond can continue to enjoy their gaming.
Poker playing celebs such as Leonardo DiCaprio, Matt Damon and Tobey McGuire are understood to be open to sponsorship approaches from Bwin.Party.
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Jim Ryan, the co-chief executive of Bwin.Party Digital Entertainment is a very busy man.
In fact, he's invested three of the past five weeks in the United States pushing a presentation that advertised to investors the strengths of the world’s largest publicly-traded online gambling - gaming firm. Ryan’s presentation included a one-page chart that listed the top online poker brands in the U.S. market. The names of once fierce competitors PokerStars and Full Tilt Poker, were crossed out in red. Is Party the only real game left in town? Time will tell.
“Where you see the red lines, those organizations have been indicted, so although one can’t predict the future, it’s unlikely you will see those brands back in the U.S.,” Ryan said during an interview. “The brand that has the most consumer awareness is in fact the PartyPoker brand.”
Ryan’s company happens to own both PartyPoker and the World Poker Tour, two of the top online poker brands that did not have their U.S. operations shut down by the U.S. Justice Department in April because they were not facilitating for-money online poker play in America—in the case of PartyPoker since 2006. They also own PartyCasino, a top online casino destination website. The fact that Ryan, who is based in Gibraltar, has recently been spending so much time in the U.S. demonstrates he is optimistic and hopeful for a U.S. comeback. “My focus is on the U.S.,” says Ryan, who is in the final stages of negotiating partnerships with two U.S. companies. “Even though there is no guarantee that online gaming will ever regulate in the U.S.”
For years Ryan and his staff at PartyGaming, which merged with Bwin earlier this year, had to sit on the sidelines, watching how much money PokerStars and Full Tilt Poker were snatching. It was a difficult thing to watch for the top brass and workers at PartyGaming, which was the biggest online gambling company in the world thanks to its domination of the U.S. online poker market until Congress passed the Unlawful Internet Gambling Enforcement Act in 2006. PartyGaming exited the U.S. market and saw its stock price take a massive hit, while PokerStars and Full Tilt kept their U.S. facing .com websites on air. Party competitors enjoyed somewhat of an unfair advantage, with the rouges using the U.S. market to expand globally at PartyGaming’s expense. “We were beyond the point of frustration,” says Ryan.
Next PartyGaming struck a non-prosecution agreement with the U.S. Attorney in Manhattan, paying $105 million and admitting its U.S. operations had for years violated U.S. law. Meanwhile, PokerStars and Full Tilt continued to operate in the U.S. and claimed that their U.S. operations did not violate U.S. law, pointing to legal opinions the companies had received from top American legal eagles. To many, it appeared like PartyGaming had given a lucrative business away. Even at the company’s headquarters there were doubts until April 2011, when federal prosecutors in Manhattan closed down the U.S. operations of PokerStars and Full Tilt, naming them illegal gambling businesses, and indicted some of their key execs. "I think Party has been vindicated now in getting out when they did and in dealing with the Department of Justice," says Behnam Dayanim, a partner at Axinn Veltrop & Harkrider, who negotiated PartyGaming’s agreement with federal prosecutors in downtown Manhattan.
With all that said, Bwin.Party Digital Entertainment is not exactly holding a management party quite yet. It's so close, yet so far, from reclaiming online poker’s crown. Operating in highly-regulated and taxed European markets while competing against well-run companies like PokerStars is not for the faint-hearted. Bwin.Party’s stock, which trades on the prestigious London Stock Exchange, has dipped by 50% in 2011. Big corporate mergers can be problematic, but the outfit has also suffered a setback in Germany, where the nation’s top civil court recently decided to uphold an online gambling ban, and been dissed by higher gaming duties across Europe. When the company attempted to take advantage of the April U.S. shutdown of PokerStars and Full Tilt, Bwin.Party found that while some new European players were attracted to its poker brands, revenues remained flat-ish. It wasn’t until Full Tilt’s European regulator suspended Full Tilt’s license in late June that Bwin.Party’s increased advertising and promotional expenditures started to pay dividends. PartyPoker is now the second-biggest online poker room in the world, according to PokerScout, averaging 4,150 cash players during any given time. PokerStars has 22,800.
Ryan, who joined PartyGaming as CEO in 2008, has been waiting for this moment for what seems like forever. He long ago took Bwin’s Norbert Teufelberger to a McDonald’s in La Linea, Spain, and chatted to him at length about the pros of combining Bwin’s strong online sportsbook business with PartyGaming’s poker brands, resulting in the merger that was first announced in 2010. Ryan also fine-tuned his company’s business-to-business capabilities over the last few years with an eye toward finding a U.S. partner with whom he can re-conquer America. "We had to be realistic about where we sat in the food chain," says Ryan. "We figured if the U.S. regulated it would be unlikely that we would secure a license directly, that the laws of the land would be written to allow existing land operators and equipment manufacturers in the U.S. to secure the licenses." Ryan is optimistic about current efforts in Washington, driven by the American Gaming Association and powerful casino companies like Caesars Entertainment and MGM Resorts, to potentially get some sort of online gambling legislation through a divided Congress. Ryan notes he is also preparing for the possibility that online poker gets regulated first on a state-by-state basis.
"We have to be ready for both federal or state," he says. "It feels good to have American taxpaying companies finally driving this.".
If an offshore operator is to succeed in American, Bwin.Party Digital Entertainment looks like the firm to place bets with.
Bwin.Party has identified Australia and New Zealand as places to further expand their business, even sponsoring high profile poker players such as Tony G and Stewart Scott (a former Crown Casino 'Aussie Millions' champion.) PartyPoker is one of a number of rumoured brands set to take over the sponsorship spot at James Packer's Crown Casino that FTP once enjoyed. Party look to have as much chance as anyone, probably more so.
In the meantime, poker and casino game players in regions such as Australia, New Zealand, Canada, Italy, South America, South Africa and beyond can continue to enjoy their gaming.
Poker playing celebs such as Leonardo DiCaprio, Matt Damon and Tobey McGuire are understood to be open to sponsorship approaches from Bwin.Party.
Governments of the world - you're throw of the dice.
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Monday, October 17, 2011
WSOP Europe: Michael Mizrachi, Philippe Boucher Capture Bracelets As Championship Event Enters Day 1B - 16th October 2011
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As the €10,000 Championship Event of the 2011 World Series of Poker Europe enters its second Day One on Sunday, poker pros Michael “The Grinder” Mizrachi and Philippe Boucher captured the final two preliminary bracelets awarded on Saturday.
In the €10,000 Split Format No Limit Hold’em event, Mizrachi came back yesterday as a member of the Final Four who would determine the title. In his semi-final match against Roger Hairabedian, Michael slowly worked the heads up match to what was a startling conclusion. On the final hand of their matchup, Hairabedian flopped a set of fives on a J-8-5 board, but Mizrachi was able to best that by turning a straight with his 7-6 when a four found the turn. Once the board didn’t pair on the river, Michael Mizrachi was on to the final.
In the other semi-final match, Shawn Buchanan and Noah Schwartz battled it out for the right to face “The Grinder.” Buchanan methodically worked his way into a comfortable lead against Schwartz before getting him to commit his final chips with a mediocre offering. After a minimum raise from Shawn, Noah decided to make a three-bet stand for his last chips with only an A-5 off suit. Buchanan quickly called, tabling his pocket Kings, and once the board ran dry (albeit with a bit of a flush sweat), Shawn Buchanan was the winner of the match.
As predicted here yesterday, the Mizrachi/Buchanan battle was a fierce one, although Michael came to the felt with a 2:1 chip lead over Shawn. “The Grinder,” true to his name, was able to gradually add on to his lead over the two hours of play; nothing that Buchanan attempted seemed to work as his chip stack slowly slipped southward. The end of the tournament was particularly brutal for Buchanan as, holding an A-J against Mizrachi’s A-10, a ten came on the flop to flip the lead to Mizrachi. Turn and river deuces sealed the deal for the 2010 $50K Poker Players’ Champion, giving him his second bracelet in as many years.
1. Michael Mizrachi (United States), €336,008
2. Shawn Buchanan (Canada), €207,624
3. Roger Hairabedian (France), €112,092
4. Noah Schwartz (United States), €112,092
The final table of the €1500 Six Handed Pot Limit Omaha tournament seemed to be more of a sprint than a marathon, highly unlike major championship final tables. Chile’s Nicolas Fierro came to the final table with the chip lead, but it was a one man wrecking ball by the name of Philippe Boucher who stole the show.
After taking almost an hour and a half before the first player, Jack Ellwood, was eliminated by Boucher, the Canadian pro would then storm his way through the remainder of the field. He would go on to knock off the entire table on his run to the title, only pausing slightly during heads up play against Michel Dattani. On the final hand, Dattani would commit his final chips holding an A-A-J-7 against the A-Q-10-9 of Boucher. After the board ran 6-6-8-J-Q to give him the winning straight, Philippe Boucher would pick up his first WSOP bracelet in just under four hours.
1. Philippe Boucher (Canada), €124,584
2. Michel Dattani (Portugal), €76,982
3. Nicolas Fierro (Chile), €53,426
4. Alexander Dovzhenko (Ukraine), €37,529
5. Jared Solomon (South Africa), €26,676
6. Jack Ellwood (United Kingdom), €19,181
While these two final tables wrapped up action, the first Day One of the €10,000 Championship Event was in play. 310 players eventually wound their way to the tables in the battle for the next WSOP Europe Main Event championship, guaranteeing that this will be the biggest Championship Event in the history of the WSOP Europe. Last year’s total number of players was “only” 346 and the record field for the tournament was in 2007 and 2008, when the tournament drew 362 players.
At the end of Day 1A, 173 players remained, with Jamie Rosen holding the chip lead with 162,700 in chips. Notable names in the Top Ten include the U. K.’s Chris Moorman and Erik Friberg, but there are threats looming down the leaderboard. Two time World Champion Johnny Chan is just off the leaderboard in eleventh place with 108,350 in chips, while Ramzi Jelassi, 2011 WSOP November Niner Ben Lamb, Carlos Mortensen, Will “The Thrill” Failla, Chad Brown and Arnaud Mattern are just some of the names in the Top 25.
Day 1B is currently in play, with 165 players stepping up for the action on Sunday. Some of the players who have made early moves during Day 1B include 2010 WSOP November Niner Filippo Candio, Robert Mizrachi, Tommy Vedes, Shannon Shorr, Bryan Devonshire, Sandra Naujoks, Mike “Timex” McDonald and Bertrand “ElkY” Grospellier. Defending World Champion Jonathan Duhamel, Men “The Master” Nguyen, Jean-Robert Bellande and Sorel Mizzi are all below their starting stacks, with “The Grinder” and Steve Billirakis two of this year’s WSOP Europe bracelet winners already eliminated from the tournament.
Final numbers for the Championship Event aren’t in yet, so the prize pool hasn’t been determined or the first place prize. However it plays out, the 2011 World Series of Poker Europe has been a record breaking schedule with its final stories yet to play out. (Credit: Poker News Daily)
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As the €10,000 Championship Event of the 2011 World Series of Poker Europe enters its second Day One on Sunday, poker pros Michael “The Grinder” Mizrachi and Philippe Boucher captured the final two preliminary bracelets awarded on Saturday.
In the €10,000 Split Format No Limit Hold’em event, Mizrachi came back yesterday as a member of the Final Four who would determine the title. In his semi-final match against Roger Hairabedian, Michael slowly worked the heads up match to what was a startling conclusion. On the final hand of their matchup, Hairabedian flopped a set of fives on a J-8-5 board, but Mizrachi was able to best that by turning a straight with his 7-6 when a four found the turn. Once the board didn’t pair on the river, Michael Mizrachi was on to the final.
In the other semi-final match, Shawn Buchanan and Noah Schwartz battled it out for the right to face “The Grinder.” Buchanan methodically worked his way into a comfortable lead against Schwartz before getting him to commit his final chips with a mediocre offering. After a minimum raise from Shawn, Noah decided to make a three-bet stand for his last chips with only an A-5 off suit. Buchanan quickly called, tabling his pocket Kings, and once the board ran dry (albeit with a bit of a flush sweat), Shawn Buchanan was the winner of the match.
As predicted here yesterday, the Mizrachi/Buchanan battle was a fierce one, although Michael came to the felt with a 2:1 chip lead over Shawn. “The Grinder,” true to his name, was able to gradually add on to his lead over the two hours of play; nothing that Buchanan attempted seemed to work as his chip stack slowly slipped southward. The end of the tournament was particularly brutal for Buchanan as, holding an A-J against Mizrachi’s A-10, a ten came on the flop to flip the lead to Mizrachi. Turn and river deuces sealed the deal for the 2010 $50K Poker Players’ Champion, giving him his second bracelet in as many years.
1. Michael Mizrachi (United States), €336,008
2. Shawn Buchanan (Canada), €207,624
3. Roger Hairabedian (France), €112,092
4. Noah Schwartz (United States), €112,092
The final table of the €1500 Six Handed Pot Limit Omaha tournament seemed to be more of a sprint than a marathon, highly unlike major championship final tables. Chile’s Nicolas Fierro came to the final table with the chip lead, but it was a one man wrecking ball by the name of Philippe Boucher who stole the show.
After taking almost an hour and a half before the first player, Jack Ellwood, was eliminated by Boucher, the Canadian pro would then storm his way through the remainder of the field. He would go on to knock off the entire table on his run to the title, only pausing slightly during heads up play against Michel Dattani. On the final hand, Dattani would commit his final chips holding an A-A-J-7 against the A-Q-10-9 of Boucher. After the board ran 6-6-8-J-Q to give him the winning straight, Philippe Boucher would pick up his first WSOP bracelet in just under four hours.
1. Philippe Boucher (Canada), €124,584
2. Michel Dattani (Portugal), €76,982
3. Nicolas Fierro (Chile), €53,426
4. Alexander Dovzhenko (Ukraine), €37,529
5. Jared Solomon (South Africa), €26,676
6. Jack Ellwood (United Kingdom), €19,181
While these two final tables wrapped up action, the first Day One of the €10,000 Championship Event was in play. 310 players eventually wound their way to the tables in the battle for the next WSOP Europe Main Event championship, guaranteeing that this will be the biggest Championship Event in the history of the WSOP Europe. Last year’s total number of players was “only” 346 and the record field for the tournament was in 2007 and 2008, when the tournament drew 362 players.
At the end of Day 1A, 173 players remained, with Jamie Rosen holding the chip lead with 162,700 in chips. Notable names in the Top Ten include the U. K.’s Chris Moorman and Erik Friberg, but there are threats looming down the leaderboard. Two time World Champion Johnny Chan is just off the leaderboard in eleventh place with 108,350 in chips, while Ramzi Jelassi, 2011 WSOP November Niner Ben Lamb, Carlos Mortensen, Will “The Thrill” Failla, Chad Brown and Arnaud Mattern are just some of the names in the Top 25.
Day 1B is currently in play, with 165 players stepping up for the action on Sunday. Some of the players who have made early moves during Day 1B include 2010 WSOP November Niner Filippo Candio, Robert Mizrachi, Tommy Vedes, Shannon Shorr, Bryan Devonshire, Sandra Naujoks, Mike “Timex” McDonald and Bertrand “ElkY” Grospellier. Defending World Champion Jonathan Duhamel, Men “The Master” Nguyen, Jean-Robert Bellande and Sorel Mizzi are all below their starting stacks, with “The Grinder” and Steve Billirakis two of this year’s WSOP Europe bracelet winners already eliminated from the tournament.
Final numbers for the Championship Event aren’t in yet, so the prize pool hasn’t been determined or the first place prize. However it plays out, the 2011 World Series of Poker Europe has been a record breaking schedule with its final stories yet to play out. (Credit: Poker News Daily)
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Monday, October 10, 2011
MGM Resorts Online Game to Attract New Customers - 5th October 2011
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MGM Resorts International is moving into social gaming in an effort to attract more gamblers to its casinos, said MGM Chief Executive Jim Murren at casino industry conference last Wednesday.
The firm fully expects to soon announce a new social media game, he said, that would be along the lines of Zynga Inc.'s popular online game FarmVille. It would allow players to pretend to be casino moguls, he said.
The game-playing industry and gambling industries, he said, "are on a collision course."
Murren was speaking at the keynote address Wednesday at a conference entitled the Global Gaming Expo.
Murren didn't provide more details about the plans. Among hospitality companies, Marriott International Inc. has created an online game that allows players to manage a virtual hotel restaurant. Marriott's game is designed to be an employee recruiting tool rather than for acquiring customers.
Murren indicated MGM's game would be for trying to grab new customers.
"The demographics of (online) gamers are really right in the strike zone of the gaming industry," Murren said, pointing to the connection between non-gambling gamers and gamblers.
MGM is also among several large casino companies pushing hard for Internet gambling to become legal in the U.S.
MGM generates most of its revenue from casinos on the Las Vegas Strip and also owns around half of a casino in the robust gambling enclave of Macau. The company's stock price has lost nearly half its value since July on concerns of the U.S. economy and, more recently, concerns about a slowdown in growth in China. The company is still carrying a massive amount of debt.
Murren has consistently been among the most upbeat among gambling operators regarding the future of Las Vegas, even in depths of the recession of a couple years ago. He said he sees a wide gulf between what he thinks the company's stock price is and actual financial results and outlook.
"I turned my Bloomberg off about three weeks ago," Murren quipped.
After a deep downturn, both MGM and Las Vegas as a whole have shown signs of sustained but slow improvement in gambling revenue this year. Still, some observers are concerned by continued bad economic signs.
"We have exceeded our forecast and that of the street the last two quarters and had a nice third quarter as well," he said. "The market is valuing us about where we were three years ago in the teeth of recession and it just doesn't connect with me because we don't see anything inside our business that would suggest that that is accurate."
The company is optimistic about growth in Macau, he said, and has developed designs and plans for a new casino there. MGM and other casinos are awaiting government approval for their new projects.
His comments about Macau echoed those of Michael Leven, president of competitor Las Vegas Sands, who on Saturday said at a conference in Las Vegas that the company doesn't see negative signals there despite investor concerns.
MGM is also working on developing around 20 non-casino projects throughout China, Murren said.
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MGM Resorts International is moving into social gaming in an effort to attract more gamblers to its casinos, said MGM Chief Executive Jim Murren at casino industry conference last Wednesday.
The firm fully expects to soon announce a new social media game, he said, that would be along the lines of Zynga Inc.'s popular online game FarmVille. It would allow players to pretend to be casino moguls, he said.
The game-playing industry and gambling industries, he said, "are on a collision course."
Murren was speaking at the keynote address Wednesday at a conference entitled the Global Gaming Expo.
Murren didn't provide more details about the plans. Among hospitality companies, Marriott International Inc. has created an online game that allows players to manage a virtual hotel restaurant. Marriott's game is designed to be an employee recruiting tool rather than for acquiring customers.
Murren indicated MGM's game would be for trying to grab new customers.
"The demographics of (online) gamers are really right in the strike zone of the gaming industry," Murren said, pointing to the connection between non-gambling gamers and gamblers.
MGM is also among several large casino companies pushing hard for Internet gambling to become legal in the U.S.
MGM generates most of its revenue from casinos on the Las Vegas Strip and also owns around half of a casino in the robust gambling enclave of Macau. The company's stock price has lost nearly half its value since July on concerns of the U.S. economy and, more recently, concerns about a slowdown in growth in China. The company is still carrying a massive amount of debt.
Murren has consistently been among the most upbeat among gambling operators regarding the future of Las Vegas, even in depths of the recession of a couple years ago. He said he sees a wide gulf between what he thinks the company's stock price is and actual financial results and outlook.
"I turned my Bloomberg off about three weeks ago," Murren quipped.
After a deep downturn, both MGM and Las Vegas as a whole have shown signs of sustained but slow improvement in gambling revenue this year. Still, some observers are concerned by continued bad economic signs.
"We have exceeded our forecast and that of the street the last two quarters and had a nice third quarter as well," he said. "The market is valuing us about where we were three years ago in the teeth of recession and it just doesn't connect with me because we don't see anything inside our business that would suggest that that is accurate."
The company is optimistic about growth in Macau, he said, and has developed designs and plans for a new casino there. MGM and other casinos are awaiting government approval for their new projects.
His comments about Macau echoed those of Michael Leven, president of competitor Las Vegas Sands, who on Saturday said at a conference in Las Vegas that the company doesn't see negative signals there despite investor concerns.
MGM is also working on developing around 20 non-casino projects throughout China, Murren said.
Media Man is following up.
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