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Last month the New Jersey Division of Gaming Enforcement gave MGM an ultimatum: cut ties with their questionable partnership with alleged crime syndicate member Pansy Ho, or lose their gaming rights in Atlantic City. To cut ties with either their Asian partner or their Atlantic City operations could be potentially devastating to MGM’s financial outlook in consideration of the current economy.

Ho is MGM’s partner in their lucrative Grand Macau resort, and MGM recently announced their intentions to expand on their Asian campaign. Across the board, gambling industry analysts have lauded Macau as the safest bet in the resort/casino market, and MGM’s Asian holdings have already saved their stocks from the falling profits that have afflicted less diverse gambling brands.

Alternately, Atlantic City has traditionally been a money earner for the MGM brand. They are longtime partners in the city’s most profitable gambling establishment, the Borgata Hotel and Casino, and have future plans to build a multi-billion dollar gambling complex called MGM Grand Atlantic City. MGM is largely credited with revitalizing the Atlantic City scene; the development of their Borgata property marked the first new hotel in the historic city in over a decade.

It’s understandable then that the people at MGM Mirage are reluctant to abandon investments made in either city. On June 3, MGM’s global gambling development president Lloyd Nathan released a clear statement on their stance in the matter, insisting that they will uphold their agreements with Pansy Ho and that they likewise intend to continue all existing operations in Atlantic City. Nathan went on to say that MGM would appear at any hearings resulting from this decision, wherein they would, “Make our opposition clear.”

The Straits Times reports that Singapore police raided the land base of an Internet sports gambling ring as the week commenced, arresting 10 men and confiscating cash and computer-related property.

The raid, which police claim has effectively disabled the football-betting focused ring, is the latest in a series mounted by police which so far has seen the arrests of 1 566 people for illegal gambling, mainly on the Internet, since 2007.

In the latest bust, the ring operated by placing soccer bets on an unidentified website, with financial transactions were made through bank transfers.

The arrested men, all Singaporeans aged between 27 and 43, were picked up after the Criminal Investigation Department (CID) raided several flats and condominium units in Ang Mo Kio, Bishan, Senoko and Yishun. Besides the 28-year-old syndicate leader, bookies and punters were also arrested.

Almost $115 000 in cash and items like desktop computers, laptops, thumb drives, ATM cards and cellphones were also seized.

All suspects have been released on bail pending further investigations.

Earlier this month we reported on the intention of UK gambling group William Hill plc to extricate itself from Victoria Apuestas, a Spanish sportsbetting venture in which the British company partnered with the Codere group. This week, Yogonet reports that Victoria Apuestas and Grupo Rubio have inked a deal through which Victoria will be able to expand its retail presence.

The initial agreement includes eight centres, but the management of both companies are confident there will be further opportunities in the Spanish market going forward, a joint statement claims.

The deal was signed by the president of Grupo Rubio, José Antonio Rubio, and by Gerardo González, Director of Partners Relations for Victoria Apuestas SA. Development.

Grupo Rubio operates 16 betting establishments in Spain’s Aragón region.

More details on the weekend’s record over $6.3 million progressive jackpot win have been made available by the online casino concerned, Riverbelle Casino.com in the Gibraltar-based Carmen Media group.

Apparently Greek online player Georgios M. (36) is a regular slots gambler at the casino, and Mega Moolah, on which the giant win was achieved, is one of his faves. Georgios is a business owner, husband and father, who telephoned River Belle’s casino support line for confirmation after seeing the huge win on his computer screen, as in his own words he “could not believe it”. Staff quickly calmed his nerves and assured him that he had indeed won over Euro 6.3 million in cash, which will be paid out in a single tranche by the Microgaming Progressive Network.

Tim Johnson, chairman of Riverbelle’s parent Belle Rock Entertainment said: “We at Belle Rock Entertainment take the utmost pleasure in seeing our players win life-changing jackpots. It is an amazing accomplishment that for a single bet of Euro 5 a valued long time River Belle player walked away with the largest online jackpot ever won. Well done and enjoy your winnings Georgios.”

JAXX AG recently announced that its chairman Goetz Graf von Hardenberg will soon step down effective April 6, 2009. The remaining board members will propose to shareholders for the appointment of Rainer Jacken effective May 14 at the forthcoming shareholders’ meeting to retain the required number of board seats in the firm.

Upon assumption as chairman, he will have to relinquish his duties as management board member. A board spokesperson, Jacken is in charge also of Consumer Sales, Investor Relations and Business Development. These functions will be divided between Mathias Dahms and Stefan Hanel with Dahms as the new spokesperson. Jacken is a founder and owns 1.60 percent of the company. Dahms on the other hand has been with the firm since its inception.

Graf von Hardenberg has been chairman of the Supervisory Board at JAXX AG since the board was put up in December 22, 1998. He had ably guided the firm through good and bad times during the past ten years. Von Hardenberg is also management board member of Hanseatische Verlags-Beteiligungs AG in based at Hamburg, Germany. He will be leaving the firm in high spirits as JAXX AG is making huge strides in making the transition from a mere German lottery agent to one of Europe’s biggest gaming groups.
Jacken himself is quite confident that the firm is well positioned for further growth as they have laid the solid foundations outside of their traditional lottery market. Shifting to sports betting allows more room for expansion as the German lottery market is overburdened by a layer of ridiculous legislation, he said.

JAXX AG was formerly the FLUXX AG, that is now principally engaged in the development and supply of gambling products and platforms. They also offer self-marketed gaming products. It generates profits via the gaming value creation chain: agency commissions, trust fees, bookmaking revenues, license fees and customizing charges. It further secures its industry position by offering a range of self-marketed gaming products for consumers with partners AOL, freenet, Yahoo! and Lycos.