TradeFight, which claims to be the first social gambling platform to offer players the chance to challenge each other and bet on real financial data, has gone live. The platform will offer three games based on live feeds from the financial markets. The Trade Fight game allows players to challenge each other in a head-to-head contest, with players given five minutes to trade in a live market with $1,000 in virtual cash. The winner is the player left with the highest sum at the end of the contest Speed Trade is based on market movements in the next 30 seconds,…

The world’s largest casino company is cautioning investors that online bets might hurt, rather than help, its brick-and-mortar casinos. Caesars Entertainment, which owns four of Atlantic City’s 12 casinos, wrote in a filing with securities regulators late Wednesday that online gambling could reduce patron visits to its casinos in New Jersey and Nevada, and harm the company’s bottom line. In a report to the U.S. Securities and Exchange Commission, Caesars wrote that Internet gambling will compete with the company’s business in Nevada, where online poker is offered, and New Jersey, where all casino games are now available online. “Caesars will,…

Card Player – Las Vegas Sands owner Sheldon Adelson had an opinion piece posted on the Las Vegas Review-Journal website just a couple of days ago. In it, he further elaborates on his anti-Internet poker stance. The whole situation is a mess and very difficult to untangle, as some think Adelson is being hypocritical while he has accused supporters of online poker, some of who are his competitors, to be hypocrites themselves. First off, he thinks that online gambling would be dangerous for minors and other individuals who might have gambling addictions or develop gambling addictions. Secondly, he says that…

NJ.com – More than a week after online gambling began in New Jersey, casinos and their partners are still struggling to verify the location of people who want to play on the new websites. Steve Callender, the general manager at the Tropicana Atlantic City, said about 75 percent of people who have tried to play on the resort’s online gaming website — TropicanaCasino.com — have been denied because the system could not verify they were in New Jersey. “I would say a quarter are getting on,” Callender said yesterday, noting there’s a positive side to that: “We don’t have a…

iGaming Business – The Malta Lotteries and Gaming Authority has suspended the remote gaming licenses of PIVGame Limited and Turfez Limited. A statement on the regulatory body’s website confirmed that both suspensions came into effect as of November 25. Both companies have been directed to suspend all gaming operations, cease to register new players, not take any further deposits and not offer any games under the Authority’s licenses. The regulator also said both companies must provide registered players with access to their accounts and settle all players’ dues. As a result of the suspension, PIVGame and Turfez are not authorised…

Press of Atlantic City – As Internet gambling gets off the ground in New Jersey, one local company previously unfamiliar with online betting has found a way to become part of the action. Philadelphia-headquartered KGM Gaming, with offices in Pleasantville, has been involved in Atlantic City’s brick-and-mortar market since 2003 as a supplier and distributor of gambling machines and a manufacturer of casino chairs, slot bases, signage and other equipment. This week, the company forged a relationship with gaming giant Caesars Interactive Entertainment Inc., the online gambling arm of Caesars Entertainment Corp., helping to offer online betting through the company’s…