Study finds 10 states eyeing bills on Internet gambling
ATLANTIC CITY, N.J. (AP) – A group that tracks gambling-related legislation worldwide says least 10 U.S. states are considering bills to legalize or expand Internet gambling this year.
The study by Gambling Compliance also finds slim chances for a national law to regulate Internet poker. It predicts a major effort by opponents of online gambling to block it in Congress.
So far, three states allow Internet gambling: New Jersey, Nevada and Delaware.
The report says proposals for new or expanded Internet betting could be considered in California, Colorado, Hawaii, Illinois, Iowa, Louisiana, Massachusetts, Mississippi, New Jersey and Pennsylvania.
In California, one of the largest potential markets, Indian tribes are trying to agree on how to legalize Internet poker.
The report also says Nevada may consider expanding online bets beyond poker.
Twitter investors unhappy
NEW YORK (AP) – Twitter beat Wall Street’s earnings and revenue expectations in its first quarter as a public company. But investors were looking for even more – including faster user growth – and the company’s stock dipped as much as 12 percent in after-hours trading Wednesday.
Twitter reported a loss of $511 million, or $1.41 per share, in the October-December quarter. That compares with a loss of $8.7 million, or 7 cents per share, a year earlier. Adjusted earnings were 2 cents per share.
Twitter’s revenue more than doubled to $243 million from $112 million.
Twitter ended the quarter with 241 million monthly users, up 30 percent from a year earlier.
Offshore wind farm OK’d
PORTLAND, Ore. (AP) – A Seattle company is being given the green light to develop plans to build the West Coast’s first offshore wind energy farm – five floating turbines off Oregon’s Coos Bay, federal and state officials said Wednesday.
The 30-megawatt pilot project was announced at a news conference by Gov. John Kitzhaber, U.S. Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Tommy Beaudreau.
Though offshore wind farms are an expensive source of energy, proponents say they could bring clean, efficient electricity, create new jobs and stimulate the economy.
The pilot project will be developed by Seattle-based Principle Power using floating wind turbine technology that has not been deployed in U.S. waters but is in use or under development in Europe and Asia.
The Oregon facility would be 15 miles from shore, in about 1,400 feet of water. The turbines would be connected by electrical cables and have a power cable to transmit electricity to the mainland. The turbine towers would rise 600 feet to the highest point of the blade tip.
InBev to buy craft brewer
NEW YORK (AP) – Anheuser Busch InBev’s U.S. arm is buying craft brewer Blue Point Brewing Co.
Financial terms were not disclosed.
Blue Point makes more than 40 craft beers, including Toasted Lager, Hoptical Illusion, Blueberry Ale and seasonal brands, among others. Founded in 1998, it’s the 34th largest craft brewery in the U.S.
Anheuser Busch said Wednesday that the deal will bring additional resources to Blue Point’s operations, allowing it to meet growing consumer demand for its brands. Anheuser-Busch said it plans to invest in Blue Point to help grow its operational capabilities over the next few years.
Blue Point will continue to be based in Patchogue, N.Y.
The deal is expected to close early in the second quarter.