In the wake of last weeks federal indictments against three big Internet gambling companies, ESPN has temporarily removed all advertising and programming from its schedule, including the “The World Series of Poker.”
ESPN said in a statement, “For the immediate future, we are making efforts to remove related advertising and programming pending further review.”
BluffMagazine.com reports that PokerStars’ advertising deal with ESPN is worth $22M.
The UFC also has new sponsorship deal with Full Tilt.
According to Kantar Media, Pokerstars.net spent $22.1 million in U.S. paid advertising in 2010, $10.3 million on cable networks; $3.5 million on broadcast networks; $2.7 million in magazines; $5.5 million on the Internet
According to that same source, FullTiltPoker.net spent $13.0 million in total paid advertising; $8.7 million on cable networks; $4.3 million on broadcast networks.
Yikes. That’s going to hurt.
Man does not live by Onling Gambling alone…..
Wynn Resorts, 1st Q earnings were up huge… net income was $173.8 million compared to same period 2010…Net revenue was $1.2 Billion… the 2 Macau casinos gambling rev & earnings out-paced the Las Vegas Wynn & Encore venues big time….construction start of a 3rd Macau casino is imminent.
“WYNN” shares hit a 52 week high of $149.80 intra day…. also Doubled its quarterly dividend to 50 cents per share….. Wynning !!!
That’s really going to hurt the online poker industry in the U.S. I suggest they take that money and pursue a career in trading. Poker players make good traders because they have an aptitude for math and have good risk management skills.