The New Yorker – The casino billionaire and Republican kingmaker Sheldon Adelson met several 2016 G.O.P. candidates available for purchase over the weekend, but decided to buy none of them, Adelson confirmed today. After hearing speeches by Kentucky Senator Rand Paul, New Jersey Governor Chris Christie, former Florida Governor Jeb Bush, and several others who were for sale, Mr. Adelson concluded that none of them are worth owning. “I don’t want to spend millions on another loser,” said Adelson, who purchased both Newt Gingrich and Mitt Romney in 2012. The casino magnate was scathing in his assessment of the candidates…

Bloomberg – Revenue from online gambling in New Jersey has failed drastically to reach expectations, even if industry observers won’t call it a bust after just five months. New Jersey’s state treasurer estimated last year that legal online gambling would net Atlantic City casinos as much as $1.2 billion in its first year—bringing in roughly $180 million in tax revenue for the state. After the floodgates opened last November, those numbers have been revised dramatically, to a mere $34 million in tax revenue for the fiscal year ending June 30, climbing to $55 million the following year. “It’s the beginning…

NJ.com – Should Congress pass legislation that would outlaw online gambling across the country — thus quashing New Jersey’s recent move to legalize internet betting? U.S. Sen. Lindsey Graham (R-South Carolina) and U.S. Sen. Dianne Feinstein (D-California) are sponsoring the measure that would reimpose an interpretation of the federal Wire Act, which says betting over the internet violated the law. The U.S. Justice Department reversed course in 2011, leading Nevada, Delaware, and New Jersey to legalize the practice. New Jersey instituted online gambling in November. The senators said the Justice Department’s opinion was “yet another example” of the Obama administration…

Poker Update – Sports fans who fancy themselves as successful in the art of predicting winners of sporting events now have a social sports betting site in which to display their talents with the launch of Tipday. The new betting site is free and aims to revolutionize wagering on sporting events by allowing players to make predictions or tips on a wide range of sporting contests from English Premier League football to NBA basketball. Those tipsters who do indeed show a penchant for selecting winners can earn a number of risk-free prizes that include choice seats to sporting events. Tipday.com…

Venture Beat – Gamblit Gaming is announcing today it has raised $12 million in funding for its real-money gambling platform. But rather than convert a social casino slots game into a gambling game, Gamblit is looking for something altogether new. Glendale-based Gamblit wants to make it easy for game developers to create games that can be easily adapted for real-money gambling in places such as the United Kingdom, where online gambling is legal. The money came from American Capital, a publicly traded private equity firm with $19 billion in assets under management. Gamblit handles tasks such as building regulated technology,…

Yahoo – Nevada’s gambling revenue in February plunged 13.7 percent, a decline blamed on a huge drop in baccarat winnings and a tough comparison from a year earlier when the Las Vegas Strip recorded its highest win total ever, state regulators reported Friday. Casinos statewide reported a win of $926.1 million in February, down from nearly $1.1 billion raked in during the same month the year before. The tumble on the Strip, home to Nevada’s posh resorts, was even more dramatic. Casinos there reported gambling revenue of $555.7 million, down 20.1 percent compared with $696.1 million won in February 2013,…

Pokerati – This past week, two sources of information became available indicating how the Canadian government will increase its regulation and oversight of virtual currencies, including bitcoin. Through a combination of legislative and regulatory changes, Parliament and the Financial Reports Analysis Centre of Canada—Canada’s financial intelligence unit—will wrap “dealers” in virtual currencies into the current money services business regime. Conceptually, this is somewhat similar to the approach taken to exchange functions by the Financial Crimes Enforcement Network in the United States. The federal government has clarified things somewhat but, at the same time, left us with many unanswered questions. We will have to wait…

Press of Atlantic City – More than four months after the launch of Internet gambling in New Jersey, operators in the developing industry are approaching their first deadlines for creating jobs in the state. Regulators are requiring that by May 1, all platform providers base their teams working on customer service, fraud detection and accounting in New Jersey. Rather than the gambling industry jobs of the past, which included cocktail servers, dealers and other service and hospitality positions, the jobs of the future will be more technical, dealing with activity from behind computer screens. Exact numbers of how many Internet…