Las Vegas Review-Journal Gets Bought Out as Rumors Swirl That Sheldon Adelson May Be the Mystery Customer

Las Vegas Review-Journal Gets Bought Out as Rumors Swirl That Sheldon Adelson May Be the Mystery Customer

The Las Vegas Review-Journal has announced that it has a new owner, not even the staff knows who it really is.

Did Sheldon Adelson, whose vegas casino the Venetian is readying for today’s final GOP debate, purchase the Las Vegas Review-Journal? Most are saying ‘yes,’ but no one nevertheless the buyer him or herself knows for certain at this juncture.

The $140 million cost tag for Nevada’s primary newspaper would be chump modification for the billionaire, of course. But as city news sources go, it is considered lot at a time as soon as the print publishing industry is in decline.

But the mystery surrounding the purchase is what really has folks talking, as nobody, not even apparently the newspaper’s staff, knows the identification of the owner that is new.

What we can say for certain is this: last Thursday, a company called News + Media Capital Group paid method over market value to manage the newspaper from the previous owner, New Media Investment Group, which had bought it previously in the 12 months just for $102 million.

Who owns the very recently incorporated News + Media Capital Group has not even been divulged to staff, leaving the paper’s seasoned reporters, usually so adept at getting to the base of a whole story, scraping their minds.

‘Don’t Worry About Who We Are’

Michael Schroeder, a News + Media Capital Group manager, told staff in a meeting on final Continue reading “Las Vegas Review-Journal Gets Bought Out as Rumors Swirl That Sheldon Adelson May Be the Mystery Customer”

Gala Coral Posts Strong Financials, Combats Ladbrokes Deal Criticism

Gala Coral Posts Strong Financials, Combats Ladbrokes Deal Criticism

Irish businessman Dermot Desmond is against Ladbrokes and Gala Coral unifying, but that stance could change after Gala posted strong 2015 earnings.

The Gala Coral Group announced Monday that its Internet gaming arm could be the ‘fastest growing in the British online gambling market,’ web revenues for the division a full 36 percent higher than the year that is previous.

Earnings before interest, tax, depreciation, and amortization (EBITDA) for online gambling rose 14 percent to £56.2 million ($85 million). 972,000 first-time depositors had been additionally acquired during the year that is fiscal Gala Coral saying that led to ‘more net revenue than any other listed peer in both cash and percentage terms.’

Overall, Gala Coral had been one percent higher in 2015 than 2014, but taking into account the global World Cup, the business claims it was net 30 percent ahead.

‘The Group’s financial performance within the year that is full strong … despite significant regulatory headwinds, and final 12 months’s World Cup,’ CEO Carl Leaver commented.

Ladbrokes Owner Goes For Broke

On November 24, Ladbrokes shareholders voted in favor of the $3.5 billion merger with Gala Coral.

At that time, much opposition was voiced from investors in Britain’s largest retail bookmaker who felt the slightly smaller Gala Coral stood to gain more through the alliance.

Irish billionaire Dermot Desmond owns upwards of three perce Continue reading “Gala Coral Posts Strong Financials, Combats Ladbrokes Deal Criticism”

Brazil Special Senate Committee Recommends Legalizing Gambling

Brazil Special Senate Committee Recommends Legalizing Gambling

Brazil President Rousseff is dealing with impeachment as her country falls into economic despair, but gambling could arrived at her rescue.

Brazil is as soon as gambling that is again mulling, lawmakers into the cash-strapped country in the midst of economic devastation scrambling to find ways to invest in the federal government without putting extra tariffs on residents.

The Brazilian Senate Commission for Regional Development and Tourism voted this week in support of Bill 186 of 2014, legislation that would authorize up to 35 land-based gambling enterprises and invite gambling enterprises to commence operations online.

Casinos have already been banned in the national country since 1946.

Illegal gambling in Brazil is estimated to be a nearly $5 billion annual industry, and legislators affirm tapping into that market is necessary to offset a dismal financial year for the country. Moody Investors Service recently downgraded Brazil to ‘Junk Status’ citing a rapidly deteriorating economy and ‘worsening governability.’

Public Opinion

Legalizing gambling and Web gambling enterprises appears to be described as a viable solution to make up at part that is least of the mounting budget deficit. Persuading residents to get behind gambling might be a more difficult task than in other countries.

Brazilians gambling that is associate corruption, many thinking the venues become nothing significantly more than utilities from crim Continue reading “Brazil Special Senate Committee Recommends Legalizing Gambling”