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Online Casino To Bid On Cavs

Discussion in 'Online Casinos' started by Dutch, Dec 22, 2004.

    Dec 22, 2004
  1. Dutch

    Dutch Casino Representative

    One of the oldest online casinos, operating online since the mid-90s, has recently made a serious bid to enter the NBA by attempting to purchase the Cleveland Cavaliers.

    Online Casino Fortune has made it pretty clear that they intend to outbid other potential buyers in order to acquire the NBA team. The online casino made an estimated offer thought to be somewhere in the neighborhood of $375 million.

    Last week, Gordon Gund, who bought the Cavs in 1983 for $20 million, said he was in serious negotiations with a potential buyer. Spokesman Kevin Mercuri said the casino company has proposed meeting with Gund and team executives. This seems to be a continuing trend for online casinos that wish to step out of the virtual and into the material world by acquiring properties, land based casinos and now sports teams.

    Back in April, Casino Fortune, consider to be one of the oldest and largest online casinos announced that it wished to buy out the Phoenix Suns for $380 Million. The deal didnt go through in the end and the online casino sat on the sidelines waiting for its next move. Casino Fortune also made an offer to buy into the Trump casino fortune which apparently hadnt turned a profit since 1996 Casino Fortune offered a $400 million investment for Trump's three ailing Atlantic City casinos -a sum that represents a 31 percent stake in the company.

    Casino Fortune President Dennis Rose said at the time: "We feel we can help Trump turn around his (money-losing) casinos and want to be involved in the management," he said. This represented a new stage in the gambling industry where online casinos were looking to buy out land based casinos.

    Now Fortune Casino has set its sights on the NBAs Cleveland Cavaliers. We have made it clear that we want this team, said Casino Fortune president Rose. The internet casino operator has confirmed it is willing to outbid another interested party to gain control of the team that has recently won nine straight matches. Although Casino Fortune is located offshore, the majority of their casino players are living in the US so therefore the online casinos leadership decided the time is right to further invest in American leisure and entertainment i.e. the NBA. The privately-held online casino boasts over 2 million customers.

    Whether Casino Fortune will win the bid for the NBAs Cavaliers is yet to be determined but one thing seems sure they are out for a fight and are willing to go the distance in order to acquire the basketball team. This indicates the profitability and the huge amount of business that is being generated by online casinos.

  2. Dec 22, 2004
  3. cipher

    cipher Banned member - being a jerk

    Where do you come up with this crap. First off, before making any bid of any kind I think Dennis Rose had better consider how he and his Casino Fortune would ever gain the approval of one David Stern and the league. Not to mention the fact that the NBA deals in real money rather than some dillusional fantasy of a press release.
  4. Dec 23, 2004
  5. Dutch

    Dutch Casino Representative

    Its was taken from
    You must register/login in order to see the link. :thumbsup:

    Those who aren't familiar with the size of the online gaming industry tend to look at it and think, 'Is this kind of money around?' It's a $7.4 billion industry. The online game industry is huge. These offers and bids are serious
  6. Dec 23, 2004
  7. cipher

    cipher Banned member - being a jerk

    Do you honestly believe that the NBA would for even an instant consider Dennis Rose as a viable candidate for ownership of an NBA franchise? Not a chance.
  8. Dec 23, 2004
  9. spearmaster

    spearmaster RIP Ted

    Devil's Advocate
    Not to mention that onlinecasinoreports is an unreliable source of information which often reruns old news.
  10. Dec 23, 2004
  11. jetset

    jetset Ueber Meister CAG

    Senior Partner, InfoPowa News Service
    Cipher is right...and btw this appeared in Casinomeister's News some weeks back and is another Casino Fortune attempt to get noticed through outrageous *takeover bids" a la the Donald Trump *offer*.

    I suspect that if anyone took them up on one of these multi-million escapades they would be reversing out of there pretty quick. Unfortunately, we can expect more of this style of inexpensive publicity because the media seem to lap it up.

    Golden Palace does the same sort of guerilla marketing through expensive purchases of headline grabbing crap like ten year old sandwiches allegedly bearing the Virgin Mary's image, or haunted walking sticks.

    I agree with Spearmaster about the source.
  12. Dec 23, 2004
  13. jetset

    jetset Ueber Meister CAG

    Senior Partner, InfoPowa News Service
    BTW - this is their latest effort, which will be in Casinomeister News tomorrow:


    $5 million offered for Wall Street icon

    Sunny Group's apparent search for marketing publicity continued this week with another PR announcement of an offer to purchase a headline-grabbing property.

    The New York Post reported midweek that the group's Casino Fortune is prepared to ante up more than $5 million to put its name on "The Charging Bull," a 7,000-pound bronze sculpture near Wall Stree currently "for sale".

    But city officials, who can veto the sale, may be uneasy about letting a gaming business put its logo beneath a statue whose image has been closely linked with capitalism and the stock market

    The city fathers and artist Arturo Di Modica will have to approve the buyer, who will have to donate the bull and keep it in its current home at Bowling Green.

    As we went to press there was indication on what the City's response was to the Casino Fortune offer.

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