Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
RichieK Hi to you. 'quadruple' quote was taken from this article by Bloomberg.....California May go next!!!.... Bwin Surges as New Jersey Opens Gaming Floodgates: London Mover By Colm Heatley - Feb 27, 2013 11:34 AM GMT. . Facebook Share LinkedIn Google +1 0 Comments Print QUEUE Q .. Bwin.Party, the gaming company that has a partnership with Atlantic City’s top-grossing casino, surged to a nine-month high after New Jersey approved Internet betting and Morgan Stanley said the stock may quadruple as the U.S. market opens to online gambling. Bwin.Party rose as much as 15 percent to 158 pence, leading advancing stocks on the FTSE All-Share Index. (ASX) It was up 13 percent at 11:27 a.m., boosting its market value by about 140 million pounds ($212 million), to 1.25 billion pounds. About 4.2 million shares traded, or 35 percent more than the daily average in the past three months. New Jersey Governor Chris Christie signed legislation yesterday that opens the door to online gambling in the state in an effort to help struggling casinos. “This should benefit industry leaders with proprietary technology, such as Bwin.Party (BPTY) and 888,” analysts at Morgan Stanley led by Vaughan Lewis and Thomas Allen wrote in a note today. Bwin.Party has partnership agreements with Boyd Gaming Corp. (BYD) and MGM Resorts International (MGM), co-owners of the Borgata Hotel Casino & Spa, the top producing gaming facility in Atlantic City. 888 Holdings Plc (888) has an agreement to provide technology to Caesars Entertainment Corp. (CZR), the largest operator in the beachfront resort. The analysts raised their price prediction on Bwin.Party shares to 200 pence from 160 pence. 888 Holdings, which gained as much as 8.3 percent to 162.75 pence, may rise to 175 pence, they said. More States The potential opening of the U.S. market, where states including Pennsylvania and Florida are among those close to offering online gambling, could mean that Bwin.Party and 888 shares will more than quadruple, the analysts said. “The USA is the largest single gambling market in the world, and we see long-term potential worth up to 460 pence per share for 888 and 560 pence per share for Bwin.Party,” they said. Online gambling in New Jersey could be a $1.5 billion annual business in five years, Dennis Farrell, a casino analyst at Wells Fargo Securities wrote on Jan. 24. . ..
The Nevada Gaming Application continues to be in process, and while it is hard to put a specific timeframe on it we would expect it to be in place once the market opens. 888 has done a lot of work to prepare its systems, and the partnership with Caesars (and also the one with WMS) will be ready to go once the licensing regime is in place. As for the timing on this, it is very difficult to say, but things seem positive on a state by state basis.
888 PT increase from 135p to 185p. A key beneficiary of the state rush (if the seven year gap post US prohibition can be regarded as a rush) for legislation is 888. It has signed agreements with both Caesars (CZR.N, NR) and WMS (WMS.N, NR) to provide its online poker platform, with the former having a considerable market share of the land-based market in New Jersey, as well as a major Nevada presence. Our analysis of the state-by-state gaming market implies an EBITDA upside of >$20m, potentially rising to >$100m if major key states such as California were to regulate online gaming. The high likelihood of New Jersey online gaming, in particular, leads us to move our 888 PT to 185p
New Jersey & Nevada fighting for leadership. The leading land-based gaming states of New Jersey and Nevada are determined to lead the way in US state-by-state regulation, resulting in positive and faster-than-expected developments in opening up online gaming in each territory. New Jersey, the greater opportunity for operators, in our view, is scheduled to introduce regulated online casino and poker in autumn 2013, with Nevada racing ahead with poker-only legislation, due for launch within months.
TRENTON — The state Legislature today cleared the way for legalizing online gaming in New Jersey. Both the state Senate and the Assembly approved Gov. Chris Christie’s recommended changes to an online gambling bill he conditionally vetoed this month. The Republican governor said last week there would “be no reason for me not to sign it,” and said he may do so as early as today. “This is a historic moment for Atlantic City and for the state of New Jersey," said Sen. Raymond Lesniak (D-Union), a primary sponsor, who said the measure is "truly a lifeline" for the resort town. “Because of internet gaming, at least one and likely two casinos will not have to close.” The legislation (A2578), which requires that the online bets be placed only in New Jersey, received bipartisan approval in both houses. It passed the Assembly today by a vote of 68-5, with one legislator abstaining. The Senate passed the bill 35-1. It would limit licenses to casinos in Atlantic City and require those companies to keep most of the equipment to run the operations on site. RELATED COVERAGE • N.J. Democrats plan to back Christie's online gambling changes • Gov. Christie approves of online gambling with caveats • Online gambling could save Atlantic City, analyst says Christie vetoed an earlier version of the bill, saying at the time that "any effort to expand casino gambling outside of Atlantic City must be supported by referendum." But, earlier this month, he changed his mind and said he approved of online gambling as long the economic benefits were carefully weighed "against the risks of addiction, corruption, and improper influence." The governor recommended extending existing prohibitions on casino-related employment for state workers and others with conflicts of interest, increasing funds for programs that treat compulsive gambling, and requiring elected state officials to disclose current and former connections to companies seeking online gaming licenses. He also called for collecting more taxes than legislators had proposed — 15 percent of internet gambling revenues, as opposed to the 10 percent the original bill would have collected. Casinos currently pay an 8 percent gross tax on casino revenue, which would not apply to internet wagering under the legislation. His biggest change: The law would expire after a decade, giving lawmakers a chance to review its merits. The Legislature concurred with those changes today. N.J. NEWS ON THE GO Our redesigned mobile site has quick page loads and app-style navigation, and lets you join the conversation with comments and social media. Visit NJ.com from any mobile browser. "New Jersey's gaming industry must, like just about everything else
888 has delivered a record fourth quarter and a record year in terms of top-line revenue — the continued growth in poker is particularly impressive…The company is one of a select few that has proven that it can deliver a credible performance in newly regulated markets. For this and the strategic opportunities open to 888, it deserves its premium rating