Wednesday, June 20, 2018

Atlantic City Casino Revenue Takes A Slide In May, But Don’t Panic Yet

Atlantic City Casino Revenue Takes A Slide In May, But Don’t Panic Yet
Atlantic City casino revenue

Atlantic City casino revenue was down 5% in May compared to 2017, which is not a concern just yet with NJ sports betting and two new casinos coming soon.

The post Atlantic City Casino Revenue Takes A Slide In May, But Don’t Panic Yet appeared first on .

Sky Bet Boss Richard Flint Named UK’s Best CEO in Glassdoor’s Employees Choice Awards

Casino News Daily
Sky Bet Boss Richard Flint Named UK’s Best CEO in Glassdoor’s Employees Choice Awards

Sky Betting & Gaming Chief Executive Richard Flint has been recognized as UK’s best CEO of 2018 in Glassdoor’s sixth annual Employees Choice Awards. Mr. Flint has been at the company’s helm for nearly two decades.

Glassdoor’s list shows that the Sky Bet executive has nipped past Microsoft boss Satya Nadella and Capital One’s Richard D. Fairbank. This year’s top 5 ranking also includes Marc Benioff from Salesforce and Tim Kidd from Kantar Worldpanel.

Generally speaking, the Top CEOs list, presented by job search and reviews website Glassdoor, is based on reviews and feedback from current and former employees of one company or another. To qualify, a given company needs to be employing at least 1,000 people. Sky Bet, one of UK’s biggest online gambling companies, currently employs around 1,200 people.

Some of the comments from Sky Bet staff regarding the company’s top executive and management team pointed that managers were “approachable” and that there was clarity about how the business was doing.

As mentioned above, Mr. Flint assumed the CEO post at the major gambling company nearly twenty years ago. Sky Bet has over the years grown into the operator with the largest active UK online player base. Most recently, the company has revealed that it generates 80% of its revenue from mobile gambling, an indication that it is one of the early successful adopters of what is anticipated to turn into a leading growth driver within the global gambling industry.

Commenting on his role as a leader, Mr. Flint said in an interview with Quartz at Work that, contrary to what many believe, a boss and a leader does not always have all the answers and is not always “the smartest person in the room”. Of his approach to leadership, the executive said that he fosters a “supportive and collaborative” work environment that revolves around “empathy, humility, and honesty”.

Recognition amid Expansion

Sky Bet had previously focused its attention solely on its domestic UK market. However, the company announced last year that it would look to expand across other major markets, with the first two of these being Italy and Germany.

Reports emerged earlier this year that the company was planning to float on the London Stock Exchange. That plan was later on put on hold as Canadian gambling giant The Stars Group, owner of poker operator PokerStars, announced that it was buying Sky Bet in a deal valued at around $4.7 billion that would result in the creation of the world’s largest listed online gambling company.

The transaction is expected to be completed in the third quarter of the year, subject to approval from gambling regulators, NASDAQ, and the Toronto Stock Exchange. Being part of The Stars Group will give Sky Bet access to a number of new markets to deliver its geographical expansion strategy in.

The post Sky Bet Boss Richard Flint Named UK’s Best CEO in Glassdoor’s Employees Choice Awards appeared first on Casino News Daily.

Tuesday, June 19, 2018

MGM Resorts International hires Scott Butera

World Casino News
MGM Resorts International hires Scott Butera

Giant casino operator, MGM Resorts International, announced that it has appointed well-known entertainment and hospitality executive, Scott Butera (pictured), to serve as its Interactive Gaming President and help the company to grow its presence in the expanding American sportsbetting sector. Las Vegas-headquartered MGM Resorts International, explained that its hiring of Butera follows last month’s ruling from […]

Latest Developments in Europe’s Online Gambling Industry, Comments from iGaming Legal Experts Tal Ron and Stephanie Attias

Casino News Daily
Latest Developments in Europe’s Online Gambling Industry, Comments from iGaming Legal Experts Tal Ron and Stephanie Attias

Europe’s online gambling market has been jumping from strength to strength over the past several years and it is only poised to grow larger as technology servicing the sector becomes more sophisticated and the general demand for online services, including betting and gaming ones, keeps growing.

Although providing correct data about the actual size of the European (and the global) online gambling market could be a rather challenging task, it is believed that Europe’s online gaming and betting industry accounted for more than a half of the global Internet gambling sector in 2017. That sector was estimated to be between €38 billion and €40 billion last year, according to various sources.

Here it is also important to note that that figure represented regulated operations. However, the lack of proper regulations in an enormous number of jurisdictions not just in Europe but also in the rest of the world has pushed Internet betting and casino practices deeply underground, thus creating a behemoth black market the true size of which simply cannot be estimated.

Another important thing that needs to be taken into account is the fact that as European regulated operations accounted for half of the global market, the continent’s four biggest regulated markets in terms of population – UK, France, Italy, and Spain, might have represented around a half of Europe’s regulated gambling space with collective revenue of around €8.6 billion.

The first half of the year has been an eventful period for Europe’s online gambling scene, with regulatory developments in both already regulated markets, markets that seem to be averse to change, and markets that are on the cusp of regulation. It has been just days ago that it has become known the UK plans to increase online gambling taxes to offset losses that will be incurred by the launch of a massive crackdown within the country’s land-based gambling industry.

Earlier this year, Norway announced that it would stick to its monopoly system by rolling out a set of rules that would introduce clarifications about the illegality of unlicensed gambling services provided by international operators.

Meanwhile, Sweden has completed almost all the necessary steps toward the liberalization of its online gambling market, and the country’s new law that will officialize that liberalization is now set to come into force at the turn of 2019.

Last but not least, several jurisdictions have announced that they are planning to change their existing gambling advertising rules, thus aiming to curb the promotion of gambling products and services across media.

The latest events from Europe have thus shown that the online gambling space on the continent is dynamic and ever-changing, but it is yet to be seen how these events will affect its growth in individual countries and globally.

To provide additional viewpoints on the latest developments across Europe’s online gambling scene, Casino News Daily has reached out to legal specialists Tal Itzhak Ron and Stephanie Attias from Tel Aviv-based law firm Tal Ron, Drihem & Co., who have provided their brief comments on the current state of the industry.

According to Mr. Ron and Ms. Attias,

[t]he online gambling sector is growing like never before and will continue to prosper thanks to new technologies which continue to increase business opportunities. However, such innovation needs to be followed scrutinously by appropriate legal mechanisms and barriers to keep the gambling environment safe and responsible.

This year has been a year of change for Europe’s online gambling landscape. Regulation has become more and more frequent in numerous European countries.

While some EU countries, such as the Czech Republic and Poland, have decided to establish official regulated markets, Nordic countries seem to disagree on whether the monopoly model is suitable for the online gambling landscape. Indeed, while Norway confirmed that the monopoly model was best suited for its residents in terms of carrying out safe and socially responsible gambling activities, Sweden seems to want to end the iGaming monopoly model by acknowledging the importance of introducing a proper licensing system in relation to the provision of gambling services.

Sweden’s Gambling Re-regulation Progress

The re-regulation and liberalization of Sweden’s iGaming market is among the biggest online gambling stories of this year. The Swedish national legislator, Riksdag, approved earlier this month the nation’s new law, titled Re-Regulation of the Gambling Market (En omreglerad spelmarknad) to thus open the local market to international operators.

It can be said that the country’s gray market has been thriving over the past several years and it is believed that the new regulatory regime, set to take effect on January 1, 2019 would actually result in the creation of one of Europe’s largest regulated markets.

Sweden’s whole gambling market totaled SEK22.6 billion (approximately €2.2 billion) last year. Unregulated operations accounted for nearly a quarter of that market with reported gross gambling revenue of SEK5.5 billion (approximately €533 million).

Following the necessary approval by the Swedish government, the new law now needs to survive a three-month standstill period in the European Commission. As mentioned above, it is anticipated to take effect on January 1, 2019. It would allow foreign companies to apply for licenses for the operation of online gambling services.

Lotteriinspektionen, the country’s gambling regulator, will be responsible for reviewing and granting the licenses under the new regime and also for overseeing the liberalized market. The regulatory body has announced that it would begin accepting license applications from August 1, 2018.

Commenting on the upcoming changes in Sweden’s iGaming space, Mr. Ron and Ms. Attias pointed out that:

[the] new regulation will test how well operators can manage gambling activities in a safe and responsible way, which will increase players’ trust. Indeed, Swedish players will prefer to play on regulated gambling websites, instead of unregulated and often dangerous websites.

However, we are also seeing that such regulation could end the iGaming monopoly currently in place. This is no surprise, since the Swedish government already tried to attract foreign online gambling companies which operate in other European countries and have shown a growing share of revenue from online betting due to good regulations.

Norway Keeps Existing Monopoly

While Sweden is just several months away from scrapping Svenska Spel’s monopoly over the provision of most of the gambling services that are legal under the country’s regulations, another Scandinavian jurisdiction is determined to keep its gambling monopoly as the most socially responsible model.

Earlier this year, the country’s government announced and swiftly approved new rules that aim at preventing unlicensed online gambling companies from targeting Norwegian players. The new regulatory system will also look to block transfers of money related to online gambling. Under the new regulations, the country’s regulator Lotteri- og stiftelsestilsynet will be authorized to require reports from banks and other financial institutions if it suspects that gambling-related money is transferred by and to Norwegians.

The new rules were sent for review by the European Commission, which traditionally does not receive too tight online gambling frameworks promoting the monopoly model very well.

Upcoming Challenges for the Online Gambling Industry

Based on developments from the past several months, it seems that new taxes, looming gambling advertising crackdowns in a couple of European jurisdictions, and the newly introduced GDPR regulation will have imminent unpleasant effects on the industry for various reasons.

The UK government confirmed earlier this month that it would roll out a higher tax on online gambling services provided in the country in a bid to offset the negative impact a looming crackdown on the highly controversial fixed-odds betting terminals would have on the Treasury.

The government has agreed to reduce the maximum stake on FOBTs to £2 from £100, a measure that anti-gambling groups and a number of British MPs have long been calling for as a necessary one, as the number of people affected by gambling addiction triggered by betting on the machines has increased tremendously over the years since their introduction across UK betting shops.

The crackdown on the gambling devices, while considered a needed move, will result in the Treasury losing several hundred million pounds in taxes, which the government will look to offset with higher levies on the country’s flourishing online betting and gaming sector.

In a different wave of stories from the past several months, it has become known that Italy, Bulgaria, Norway, and Belgium have been few of the European countries where local governments are planning to crack down on gambling advertising.

Italy and the recently announced a looming clampdown on the promotion of betting and casino services across local media outlets might have come as the biggest surprise among the above group of European countries. The online gambling sector in the country has been blossoming over the past several years and its heavy promotion has certainly boosted that growth.

However, Italy’s new coalition government has stated that it would look to curb the widespread provision of gambling services over social responsibility concerns and that it would start with advertising.

According to Mr. Ron and Ms. Attias, the GDPR (General Data Protection Regulation) regulation would prove a bit of a challenge for the online gambling industry. The 261-page legal document took effect late last month to address issues related to the use of personal data belonging to citizens of the European Union.

Commenting on the new regulation, the two legal specialists said that:

The newest regulatory challenges most companies are currently facing involve complying with increased Data Protection Laws, such as GDPR (EU General Data Protection Regulation 2016/679). Indeed, such laws are changing the way businesses operate, and Operators will need to obtain significant legal advice to make sure they are using their best efforts to comply with the requirements set by such Data Protection Laws. The changes involved, include: updating privacy Policies, Terms & Conditions, Cookies and many more legal obligations to make sure data is protected and processed in a secured way.

Conclusion

The European online gambling space certainly enjoys rapid growth in terms of revenue generated and interest from gambling customers. However, it can be seen that growth is accompanied by regulatory challenges and these, while aiming to prevent unregulated and illegal operations from being conducted, are oftentimes having the exact opposite effect of making the regulated sector less attractive and pushing players to alternative, black markets. The European and the global gambling markets are currently being shaped but the need for proper and balanced regulations is clear. It is now up to policy-makers, regulators, and industry stakeholders to achieve that balance.

About Tal Itzhak Ron and Financial Jurist Stephanie Attias

Advocate and Notary Tal Itzhak Ron – LLB, BSc, MSc, International Master of Gaming Law (IMGL), a Financial Entertainment, i-Gaming and Crypto veteran, working with the biggest names in online gaming and financial trading since 2003. Tal graduated from Haifa University School of Law and Faculty of Computer Science in 2001, and while working as a software developer at the publicly-traded software company Ness Technologies, has further obtained a Master’s Degree in Computer Science from Bar Ilan University in 2006. Tal founded Tal Ron, Drihem & Co., Law Firm 15 years ago, focusing from its start on Online Gaming, Fin Tech, Hi Tech, and Ad Tech, quickly becoming one of the first international firms practicing solely on these areas and one of the best known names on the market. His firm today advises the world leading operations, affiliates, platforms and governing bodies in Europe and Asia, and is considered the first point of contact for entrepreneurs setting up and optimizing their operations in the online space.

Financial Jurist Stephanie Attias – Graduated from Fordham University School of Law (New York), with an LL.M in Banking, Corporate and Finance Law, and from the Faculty of Law in Nice (France) with a Master of Laws in Business Law and Economics, followed by a Master of Finance in Financial Engineering with Magna Cum Laude Honors.  After working at the U.S. Securities and Exchange Commission (SEC) in New York and in the prestigious law firm Gide Loyrette Nouel, both in London and Paris, Stephanie joined Tal Ron Drihem & Co., Law Firm in 2012 as Head of Financial Law and Regulation, where she advises the top tier of financial technologies and gaming companies.

The post Latest Developments in Europe’s Online Gambling Industry, Comments from iGaming Legal Experts Tal Ron and Stephanie Attias appeared first on Casino News Daily.

SoftGamings partners with Pragmatic Play

Casino News Today
SoftGamings partners with Pragmatic Play

A leading i-gaming developer, SoftGamings partners with Pragmatic Play, one of the fastest growing providers of digital casino games after the two brands signed a cooperation agreement. Since SoftGamings partners with Pragmatic Play, online casino operators will be able to get Pragmatic Play gaming content through the SoftGamings platform via single unified API integration. Pragmatic Play Games Library includes 80+ ...

The post SoftGamings partners with Pragmatic Play appeared first on Casino News Today.

Monmouth Park Welcomes Interest Surge over First Weekend of Sports Betting

CasinoGamesPro.com
Monmouth Park Welcomes Interest Surge over First Weekend of Sports Betting

One of the hottest locations for sports wagering in the state of New Jersey at the moment is Monmouth Park Racetrack which is located in Oceanport which recently witnessed the official launch of sports betting in the state. Over the span of its first weekend of sports wagering offering the well-known racetrack witnessed significant interest […]

The post Monmouth Park Welcomes Interest Surge over First Weekend of Sports Betting appeared first on CasinoGamesPro.com.

Monday, June 18, 2018

NetEnt launches games with The Stars Group in Portugal

Casino News Today
NetEnt launches games with The Stars Group in Portugal

Leading provider of digital casino solutions, NetEnt continues its growth strategy on regulated markets. Right now NetEnt becomes the first supplier to launch its award-winning games with The Stars Group in Portugal. Following successful technical integration, a collection of selected NetEnt’s popular games are now available with The Stars Group in Portugal. The Stars Group is one of the leading ...

The post NetEnt launches games with The Stars Group in Portugal appeared first on Casino News Today.

At Long Last, A New Era Of Legal Sports Betting Begins For New Jersey

At Long Last, A New Era Of Legal Sports Betting Begins For New Jersey
starting line

Last week, Monmouth Park in Oceanport and Borgata in Atlantic City took the first legal sports bets in NJ. And with that, NJ sports betting at long last was live.

The post At Long Last, A New Era Of Legal Sports Betting Begins For New Jersey appeared first on .

Stockholm’s Stock Exchange Home to the Largest Number of European Online Gambling Companies

Casino News Daily
Stockholm’s Stock Exchange Home to the Largest Number of European Online Gambling Companies

Stockholm has become a favorite stock exchange among Europe’s online gambling companies, with 19 such companies now being listed on it, following a wave of IPOs since the beginning of 2017, Bloomberg reports.

News about Sweden’s capital having the largest number of online gaming and betting companies in Europe come at a time when the country is gearing up for re-regulation and liberalization of its own online gambling market.

LeoVegas, Aspire Global AB, Cherry, Kindred Group, and Betsson are several of the companies to have opted either for Nasdaq Nordic, known to be the main Stockholm board, or the First North market over the past several years.

Danish developer of online gaming products Better Collective was the latest company to float on the Stockholm stock exchange. It started trading its shares on the main Nasdaq Stockholm market on June 8.

As mentioned above, the Swedish capital currently has 19 listed companies operating in the European online gambling industry, beating out the London Stock Exchange which is currently home to 16 gambling companies.

As many as seven iGaming companies have listed on the Nasdaq Nordic or First North markets since the beginning of 2017, with those being Global Gaming, Scout Gaming, Evolution Gaming, Better Collective, Cherry, Aspire Global, and LeoVegas, Bloomberg notes. Some of these have listed through initial public offering, others have moved from other platforms.

The business news outlet further points out that the companies’ performance has varied after their listing. Aspire Gaming has thus reached a 35% increase in its post-listing fortune, while LeoVegas has slumped 30%.

In terms of market value, London still accounts for the largest portion of European online gaming and betting companies’ collective value. However, it is important to note that Stockholm and London together currently account for 78% of the total market value of gambling companies across the continent, with Greece, France, and Spain comprising top 5.

According to Nasdaq Head of European Listings Adam Kostyal, Stockholm has become an attractive stock exchange due to its well-developed community of experts and investors as well as local entrepreneurs’ reputation of early adopters of technology and innovation. The expert further told Bloomberg that he expects more listings by both local and international gaming and betting companies to take place in near future.

Online Gambling Market Re-regulation Progress

Sweden has entered the final stages of re-regulating and liberalizing its gambling market after the country’s main legislative body, the Riksdag, approved earlier this month what would take effect as a new gambling law on January 1, 2019.

Under the new law, international gambling companies will be able to apply for and obtain a license from the local regulator, Lotteriinspektionen, and to operate online gaming and betting services in a regulated environment. Lotteriinspektionen is set to begin accepting license applications from August 1, 2018.

Sweden’s new gaming act aims to replace the country’s Lottery Act of 1994 and the Casino Act of 1999 and will scrap Svenska Spel’s monopoly over the provision of the majority of legal gambling services in the country.

The post Stockholm’s Stock Exchange Home to the Largest Number of European Online Gambling Companies appeared first on Casino News Daily.

Japan casino legislation clears Cabinet Committee hurdle

World Casino News
Japan casino legislation clears Cabinet Committee hurdle

In Japan, the Integrated Resort Implementation Bill could reportedly be put to a vote before the full 465-seat House of Representatives as soon as tomorrow after Friday afternoon saw the body’s Cabinet Committee controversially ratify the casino-legalizing legislation. According to a report from Asia Gaming Brief, the legislation that would bring up to three integrated […]

Sunday, June 17, 2018

Michael Addamo Emerges Victorious at Event #24: THE MARATHON – $2,620 NLHE

CasinoGamesPro.com
Michael Addamo Emerges Victorious at Event #24: THE MARATHON – $2,620 NLHE

One of the more riveting poker events in the diverse schedule of this year’s World Series of Poker recently came to an end and this was Event #24: THE MARATHON – $2,620 No-Limit Hold’em which featured generous payouts for everyone interested in participation. The skillful winner who made it all the way to the top […]

The post Michael Addamo Emerges Victorious at Event #24: THE MARATHON – $2,620 NLHE appeared first on CasinoGamesPro.com.

Fort McDowell Yavapai Nation plan ground breaking for new casino

World Casino News
Fort McDowell Yavapai Nation plan ground breaking for new casino

In Arizona, the federally recognized Fort McDowell Yavapai Nation plan to break ground on their multi-million dollar Fort McDowell Casino on June 29 at 9am. Tribal members and dignitaries from within the state and surrounding areas are expected to attend the event. The new 166,341-square-foot casino is expected to open by spring 2020 and in […]

Gal Yifrach Wins First Gold Bracelet in 2018 WSOP $3,000 No-Limit Hold’em 6-Handed

Casino News Daily
Gal Yifrach Wins First Gold Bracelet in 2018 WSOP $3,000 No-Limit Hold’em 6-Handed

Gal Yifrach, a Los Angeles-based entrepreneur and recreational poker player, claimed last night his first WSOP gold bracelet for taking down Event #28: $3,000 No-Limit Hold’em 6-Handed of this year’s edition of the popular series. Aside from the gold piece, Yifrach also collected his largest-ever poker payout of $461,798 for topping the tournament’s 868-strong field.

His triumph in the WSOP came a little over a year after the player captured a gold piece from the WSOP Circuit. Back at The Bicycle, Yifrach entered a WSOP Circuit $3,250 High Roller to win it and collect his first gold ring from the series.

Speaking to WSOP staff last night, Yifrach said that he usually does not play much of a tournament poker and that tables where higher-stakes cash games are played are where he could be seen more often. He also pointed out that he does not play professionally. With a gold ring and now a gold bracelet, he has clearly been doing very well for a non-professional.

The player said he was quite comfortable with the $3,000 No-Limit Hold’em 6-Max’s structure as it allowed for a lot of hands to be played, something that is typical for cash games.

The tournament was scheduled as a three-day one, but it took eventually a fourth additional day for it to be sealed. On Day 3, Yifrach took the lead during four-handed play and was really hoping that he would be able to end the tournament on that day and as the winner.

He pointed out that he felt he played very well and had really nice hands coming his way, which further helped him lock the title. However, despite his own efforts to finish the job on Day 3, action had to be extended with three players left in contention.

Final Day of Action

Yifrach came into Day 4 as the chip leader and with massive advantage over his two remaining opponents – James Mackey and Gary Hasson. The three players battled it out for nearly 50 hands before a player got busted.

Hasson was that unfortunate one after clashing against the eventual winner. Action sped up quite a bit after Hasson’s elimination. The two-handed duel between Yifrach and Mackey kicked off with the former holding nearly two times more chips than his final opponent.

However, over the course of just seven hands, Mackey managed to even the stacks and put Yifrach into big danger. On the final hand of the tournament, the two players went all in, Mackey tabling pocket tens to Yifrach’s [As][8h]. A [8d][6h][2c][2s][8c] board secured Yifrach with a full house and the tournament title. A second gold bracelet thus eluded Mackey. The player took home a consolation prize of $285,377 for running deep into the event.

As mentioned above, the $3,000 buy-in six-max tournament drew a field of 868 entries who generated a prize pool of $2,343,600. The money was split into payouts for the top 131 finishers.

The post Gal Yifrach Wins First Gold Bracelet in 2018 WSOP $3,000 No-Limit Hold’em 6-Handed appeared first on Casino News Daily.

Saturday, June 16, 2018

John Hennigan Wins 2018 WSOP H.O.R.S.E. Championship for Fifth Gold Bracelet

Casino News Daily
John Hennigan Wins 2018 WSOP H.O.R.S.E. Championship for Fifth Gold Bracelet

John Hennigan just won his fifth gold bracelet from the WSOP after four days of grueling poker action in this year’s $10,000 H.O.R.S.E. championship. The player was also awarded $414,692 for outlasting a pack of 166 entries who put to the test his skills in not just one but five different poker games.

A quiet and composed player, Hennigan remained true to himself in that tournament, as well. When asked how he felt after becoming just one of 25 players in WSOP’s history to have won five gold pieces, the player said that he was not too preoccupied with his accomplishment, although five indeed felt better than four.

As mentioned above, this year’s edition of the H.O.R.S.E. championship drew 166 entries who generated a prize pool of $1,560,400. The top 25 finishers got paid. Poker celebrities such as Daniel Negreanu, Chris Ferguson, Shaun Debb, and Jason Mercier, who won the tournament back in 2016, were among those to get busted before the money bubble burst on Day 2.

The event was planned to be played over three days, but the final two players – Hennigan and his heads-up opponent David Baker, decided that they would need a rest before completing their match, so play was extended into an additional fourth day. Both players went a long way before reaching that final stage of the game.

Iraj Parvizi Puts Up Terrific Show

UK-based player Iraj Parvizi entered the eight-handed final table as the chip leader. The player himself said jokingly several times throughout the final table that he was an amateur facing top pros. For a while, the player was dominating action, playing aggressively and putting great pressure on his opponents.

Hennigan recalled shortly after the event’s end that Parvizi proved to be a big trouble for almost everyone at the table, including for the eventual champion himself. Hennigan went on to say that it was actually only Baker who managed to keep his footing amid Parvizi’s attacks.

The UK player eventually exited in fourth place. Lee Salem left next. The player began three-handed play as the chip leader, but quickly lost his momentum and the last of his chips to the two remaining players.

Hennigan and Baker battled throughout the final level of the night, but could not determine the champion and eventually decided to call it a night and resume play on the next day. Baker was the short stack at that point. On the final day of action, the player managed to double several times to keep himself and his significantly smaller stack afloat, but a Limit Hold’em hand eventually saw him bust in second place for $256,297.

On the final hand in play, Baker went all in for his last 65,000 with [Ad][6s] to his opponent’s [Jc][3h]. The board ran out [10s][3s][2h][Qh][Qc] to put an end to the tournament.

The post John Hennigan Wins 2018 WSOP H.O.R.S.E. Championship for Fifth Gold Bracelet appeared first on Casino News Daily.

5 Lions roars out as Pragmatic Play’s latest launch

World Casino News
5 Lions roars out as Pragmatic Play’s latest launch

Leading online casino games developing platform, Pragmatic Play, recently announced the launch of its oriental-themed video slot game, 5 Lions, which offers players a possible 567 ways to win in extra spins. This high volatility 3×5 video slot has a default RTP of 96.5 percent and is steeped in myth and legend. The game features […]

Gaming in Holland Conference Brings Innovation to Amsterdam Tuesday

CasinoGamesPro.com
Gaming in Holland Conference Brings Innovation to Amsterdam Tuesday

The gaming industry on a global scale is constantly on the hunt for new offerings and introducing the latest trends to players willing to give them a try. This is precisely what is going to happen during the seventh edition of the annual Gaming in Holland Conference which is going to take place over the […]

The post Gaming in Holland Conference Brings Innovation to Amsterdam Tuesday appeared first on CasinoGamesPro.com.

Friday, June 15, 2018

KamaGames launches new Multi-Table Tournaments (MTT) and Split Bet Poker

Casino News Today
KamaGames launches new Multi-Table Tournaments (MTT) and Split Bet Poker

KamaGames, the largest European social mobile poker operator, today announced a significant update to their flagship title Pokerist, with the launch of a brand new game, Split Bet Poker, and the addition of the hugely popular, Multi-Table Tournaments (MTT). MTT is the latest exciting tournament type available to KamaGames’ 530,000 daily active players. Particularly suited to more experienced, committed and ...

The post KamaGames launches new Multi-Table Tournaments (MTT) and Split Bet Poker appeared first on Casino News Today.

Caesars’ Las Vegas Casino Resort Employees Approve New Contract

Casino News Daily
Caesars’ Las Vegas Casino Resort Employees Approve New Contract

Unionized workers at Caesars Entertainment Corp.’s Las Vegas Strip and downtown properties approved Thursday the terms of a new five-year contract, thus putting an end to months of negotiations that, in another case scenario, could have culminated in a citywide employees’ strike.

While no details have been released about the terms of the new contract, it has emerged that it includes wage increases and a special language that aims to protect staff members in case the property they work at is sold to another company. The contract also addresses sexual harassment in the wake of multiple misconduct at the workplace allegations against disgraced casino boss Steve Wynn.

Under the terms of the new agreement between workers and their employer, guest room attendants will be provided with wireless devices that will make it possible for them to inform security that they feel under threat in due time. Employees asked for improved security at their workplace after last October’s deadly shooting in which a lone gunman opened fire into a crowd of concert-goers from the 32nd floor of Mandalay Bay to kill 59 people and injure nearly 500 others.

The new contract also includes language that protects Deferred Action for Childhood Arrivals beneficiaries as well as immigrants that live and work in the United States temporarily under a special protective status. That particular measure was negotiated after US President Donald Trump announced that he would seek to annul the Obama administration-promoted DACA immigration policy.

Reactions to the New Contract Terms

Unionized workers at Caesars’ properties negotiated the new agreement for months. The matter escalated into a citywide vote in May that authorized the local UNITE HERE Culinary and Bartenders Unions to call a citywide strike, if the negotiating parties failed to iron out their differences by the end of May. A tentative agreement was eventually reached, which prevented the city’s largest citywide strike in decades from taking place and causing disturbances and even closures of properties.

The negotiations covered 50,000 union members employed at Las Vegas’ casino resorts, including 12,000 workers at Caesars’ properties. All 12,000 are now covered by the new contract after yesterday’s approval. They are employed at the major company’s Strip properties, including the flagship Caesars Palace, Bally’s, Harrah’s, Paris, Flamingo, Planet Hollywood, The Linq, and The Cromwell, as well as the off-Strip Rio All-Suite Hotel and Casino.

Union members have reached a similar agreement with MGM Resorts International, another major operator of casino resorts across Las Vegas.

Commenting on their new contract, workers said yesterday that by far it was the best one they had ever reached in the union’s history, particularly given the fact that it addresses safety concerns in the wake of last October’s tragedy and the sexual misconduct allegations against Mr. Wynn.

The post Caesars’ Las Vegas Casino Resort Employees Approve New Contract appeared first on Casino News Daily.

NJ Online Gambling Revenue Marches To Another Stellar Month In May

NJ Online Gambling Revenue Marches To Another Stellar Month In May
NJ online gambling revenue

New Jersey online casinos continue to climb, posting $24.3 million in revenue in May. At this rate, NJ gambling sites are set to hit $1 billion lifetime revenue by year's end.

The post NJ Online Gambling Revenue Marches To Another Stellar Month In May appeared first on .

Sportsbetting launched in New Jersey

World Casino News
Sportsbetting launched in New Jersey

Yesterday reportedly saw New Jersey become the second state to take advantage of a recent United States Supreme Court ruling after it launched legalized sportsbetting services on a wide range of collegiate and professional sports for anyone over the age of 21. According to a Thursday report from digital news content provider, NJ.com, New Jersey Governor, […]

Thursday, June 14, 2018

CrownBet Set to Become Sportingbet after Ownership Change and William Hill Australia Purchase

Casino News Daily
CrownBet Set to Become Sportingbet after Ownership Change and William Hill Australia Purchase

Australian betting operator CrownBet filed earlier this week a “Change of company name reservation” form with the nation’s Securities and Investments Commission to reserve the Sportingbet Pty Ltd name, local news outlet The Australian Financial Review reports.

The move comes shortly after speculations had emerged that the company had been planning to rebrand itself and had picked the Sportingbet name. Sportingbet, once a major Australian gambling operator, had actually been established by CrownBet’s current Chief Executive Matt Tripp and his family.

CrownBet was owned by Australian casino operator Crown Resorts up until recently. It became known in March that Canadian gambling giant The Stars Group would buy an 80% stake in the business. It was also announced at about the same time that CrownBet was selected as the preferred bidder for the acquisition of William Hill’s ailing Australian business.

The major British bookmaker announced in January that it was reviewing its local operations and that a sale was among the options considered regarding the future of William Hill Australia. The company entered the Australian betting market back in 2013 with the acquisition of the Sportingbet, Centrebet, and Tom Waterhouse brands for nearly £460 million. William Hill then scrapped the three brands for its global brand. However, the operator never managed to gain footing in the highly competitive Australian betting market.

New Betting Taxes and Expected Impact on Operators’ Profitability

CrownBet’s acquisition of William Hill Australia and The Stars Group’s acquisition of CrownBet will create Australia’s third largest online gambling operator. However, analysts believe that the upcoming implementation of a point of consumption tax in a number of Australian states and territories will have enormously negative consequences for the industry and its stakeholders.

New South Wales announced yesterday that it would introduce a 10% tax on betting revenue generated by operators from local customers. The regime will take effect on January 1, 2019. The announcement came just a few days after the government of Queensland rolled out a similar measure. A point of consumption tax will come into effect in that state on October 1, 2018, but operators will be taxed at 15% on their local revenues.

South Australia was the first state to introduce a point of consumption taxation system and the tax has already taken effect there. Victoria announced that it would tax companies on 8% of their revenues, while the Australian Capital Territory’s 15% point of consumption tax is slated to come into effect at the turn of the year.

According to research firm Macquarie Wealth Management, the new wave of taxes across the nation would cost betting operators nearly A$200 million, which would leave CrownBet, Ladbrokes, and bet365’s local businesses strapped for cash. Macquarie believes that CrownBet’s EBIT would fall from $57 million to A$1 million after the implementation of the new taxation regimes, while Ladbrokes and bet365 would generate EBIT loss of A$19 million and A$13 million, respectively.

The post CrownBet Set to Become Sportingbet after Ownership Change and William Hill Australia Purchase appeared first on Casino News Daily.

Sportsbetting referendum possibly coming to California

World Casino News
Sportsbetting referendum possibly coming to California

In California, a political consultant has reportedly initiated a campaign that could see registered voters asked whether the western state should alter its constitution in order to legalize sportsbetting. According to reports from the Los Angeles Times and LegalSportsReport.com, Russell Lowery filed the necessary preliminary paperwork with the office of California Attorney General, Xavier Becerra, […]

888 Casino To Launch Live Dealer Games In New Jersey This Summer

888 Casino To Launch Live Dealer Games In New Jersey This Summer
888 casino live dealer games

A busy summer at NJ gambling sites continues with 888 Casino and Evolution Gaming bringing live dealer games to the Garden State.

The post 888 Casino To Launch Live Dealer Games In New Jersey This Summer appeared first on .

International Game Technology agrees FlowPlay Incorporated deal

World Casino News
International Game Technology agrees FlowPlay Incorporated deal

Prominent gaming machine and systems innovator, International Game Technology (IGT), has announced the signing of a cross-license patent deal with Seattle-based online social games publisher and developer, FlowPlay Incorporated. London-headquartered, IGT, used an official press release to reveal that the agreement will allow FlowPlay Incorporated to develop community-based online games utilizing patented features from its own portfolio in […]

Wednesday, June 13, 2018

Raffaela Zillner, LL.M to join EGC 2018 for Austrian market update

Casino News Today
Raffaela Zillner, LL.M to join EGC 2018 for Austrian market update

 Dr. Raffaela Zillner, LL.M will join European Gaming Congress (EGC 2018) Ljubljana for an Austrian market update. The inaugural edition of European Gaming Congress will be held on the 16th of October at the Grand Union Hotel in Ljubljana and it’s the latest conference the team at European Gaming Media and Events are putting together. The event is expected to ...

The post Raffaela Zillner, LL.M to join EGC 2018 for Austrian market update appeared first on Casino News Today.

Ocean Resort Casino Shows Off Its New Digs For Media Ahead Of June 28 Opening

Ocean Resort Casino Shows Off Its New Digs For Media Ahead Of June 28 Opening
ocean resort casino

Just a couple weeks away from opening day, Ocean Resort Casino gives the media a sneak peek into the newest Atlantic City casino.

The post Ocean Resort Casino Shows Off Its New Digs For Media Ahead Of June 28 Opening appeared first on .

GambleAware increases commitment to GamCare

World Casino News
GambleAware increases commitment to GamCare

In the United Kingdom, the GambleAware independent responsible gambling charity has announced the signing of a three-year deal that will see it give over $18.6 million to national information and support services provider, GamCare. The London-based charity serves as a commissioning and grant-making body and revealed via an official Monday press release (pdf) that the recent […]

Bede Gaming integrated Pragmatic Play offering

Casino News Today
Bede Gaming integrated Pragmatic Play offering

An award-winning online gambling software provider, Bede Gaming integrated Pragmatic Play offering. Among the games which have gone live on the Bede PLAY platform are Wolf Gold, Chilli Heat, and Gold Rush, three of our engaging selection of over 80 casino slot games. Since Bede Gaming integrated Pragmatic Play offering, Pragmatic Play’s content will be now available to Bede Gaming’s ...

The post Bede Gaming integrated Pragmatic Play offering appeared first on Casino News Today.

Tuesday, June 12, 2018

The 30 Day Countdown to A.I Malta Summit Begins

Casino News Today
The 30 Day Countdown to A.I Malta Summit Begins

Eventus International’s newest event and sector of research is Artificial Intelligence: A.I Malta Summit. Artificial Intelligence is taking the world by storm as it becomes exponentially more advanced and capable of enabling humanity to do more and be more. In recent years, AI and IT has seen a massive rise in Malta. With most universities offering some of the best ...

The post The 30 Day Countdown to A.I Malta Summit Begins appeared first on Casino News Today.

Hong Kong Police Pledges to Investigate Digital Illegal Betting during World Cup 2018

Casino News Daily
Hong Kong Police Pledges to Investigate Digital Illegal Betting during World Cup 2018

Hong Kong authorities have revealed that local police would remain focused on carrying out operations against digital illegal betting at the time of the World Cup 2018, as the number of bookmakers which choose to go online to avoid being affected by certain regulatory requirements has surged over the past few years.

This basically means that law enforcement and regulatory authorities in Asia plan to even impose stricter measures on illegal sports betting in the region during one of the key sporting events in 2018, which is to be held from June 14th to July 15th.

The last few months have seen Chinese authorities keeping a close eye on illegal online gambling operations. Now, with the World Cup 2018 being just around the corner, a crackdown on dining and entertainment areas in the region is expected to become even stricter, with police raids going online, too.

As revealed by Raymond Chau Man-hin, who works as Senior Inspector at the Organised Crime and Triad Bureau, the Hong Kong police would initiate data gathering and special cyber patrols due to the fact that more gambling companies with offshore servers and betting websites are getting more engaged in providing local customers with illegal gambling services.

The Bureau’s Senior Superintendent Louis Chan Hon-ming revealed that he would lead a special working group, which would include representatives from the Cyber Security and Technology Crime Bureau as well as the Criminal Intelligence Bureau. The group would be engaged in planning the Bureau’s tactics against illegal betting websites.

Digital Gambling Crimes More Difficult to Investigate

As CasinoNewsDaily reported yesterday, local players have started placing more bets by using instant message applications on their mobile devices in order to remain untraceable.

The South China Morning Post reported that according to Senior Inspector Raymond Chau Man-hin, a lot of bets are being placed by making calls on WhatsApp or even sending a voice message on such applications. He further shared that punters also prefer using mobile messenger applications due to the latter’s option to delete messages, which makes investigations more difficult, because no visible traces are left. Normally, cybercrime investigations are more complicated and take more time, as experts need to dig deeper to find enough evidence online.

At the time of the 2014 edition of the World Cup, the region set a betting record estimated to more than $95.6 million. More than 140 sites across the city of Hong Kong were searched by local police, with almost 100 raids being reported as successful. In addition, almost 180 individuals aged from 20 to 65 were arrested by police officers for allegedly taking part in illegal sports betting, operating as bookmakers, as well as in money laundering. Experts have projected that the World Cup 2018 would see similar, if not larger, volumes of sports-betting related crime.

Under the current legislation in Hong Kong, anyone who offers bookmaking services out of law could suffer a monetary penalty amounting to approximately $640,000 and could be jailed for seven years. On the other hand, punters who bet with bookmakers could face a monetary penalty amounting to about $3,830 and could be jailed for a period of nine months.

The post Hong Kong Police Pledges to Investigate Digital Illegal Betting during World Cup 2018 appeared first on Casino News Daily.

7 Things Not To Be Missed In Atlantic City During Grand Opening Weekend

7 Things Not To Be Missed In Atlantic City During Grand Opening Weekend
missed target

The celebration of all celebrations is about to hit Atlantic City on June 28. Hard Rock Atlantic City and Ocean Resort Casino will finally open their doors, so here are a few of our favorite things happening that weekend.

The post 7 Things Not To Be Missed In Atlantic City During Grand Opening Weekend appeared first on .

Queensland Government Rolls Out New Point of Consumption Gambling Tax

Casino News Daily
Queensland Government Rolls Out New Point of Consumption Gambling Tax

Queensland will be the third Australian state to implement a point of consumption tax on betting revenue after South Australia and Victoria announced similar moves earlier this year. The state’s new taxation regime will come into effect on October 1, 2018.

The new tax was announced today and is part of Queensland’s budget for the upcoming 2018/2019 financial year. The point of consumption regime will require betting operators licensed in Australia to pay 15% on net wagering revenue generated from Queensland residents.

Under the new regime, operators that generate annual turnover of less than A$300,000 will not be required to pay the point of consumption tax. It is believed that that particular measure was adopted to protect smaller companies operating in Australia’s highly competitive betting space.

It is expected that the point of consumption tax will generate revenue of A$70.9 million during the first year after its implementation.

Queensland has become the third state to introduce a new betting tax after the Australian Capital Territory and Victoria governments confirmed the implementation of similar betting regimes. New South Wales, Western Australia, and Tasmania are expected to follow suit. The purpose of the new tax is to ensure that Australian states and territories where remote betting services are conducted by operators licensed anywhere in the nation reap revenue benefits from these operations.

Australia has been one of the markets where sports betting has been thriving. Local bettors have thus been targeted by some of the world’s largest gambling companies, with those mainly being licensed in the Northern Territory due to its lower taxes. Being licensed elsewhere, operators are not legally obligated to contribute a portion of their revenues to the jurisdictions they operate in, unless there is a law requiring such revenue contributions.

The ACT’s tax regime will take effect on January 1, 2019. Just as in Queensland, betting operations will be taxed at 15% on revenue from ACT customers. In Victoria, the new tax will replace the state’s existing taxation structures on January 1, 2019, but companies will be taxed at 8% on their local revenue.

Tax Revenue Allocation

The Queensland government did not include information about how tax proceeds from licensed betting operations would be allocated. MPs said they will first consult the state’s racing industry and other stakeholders to determine the channels money would be directed to.

Racing Queensland, the board that services the state’s racing industry across its greyhound, harness, and thoroughbred codes, has previously said that racing tax money should be contributed to the local racing industry. It is yet to be seen how big its share from the future point of consumption tax proceeds is going to be.

In a statement following today’s announcement, Racing Queensland said that they consider it encouraging that state MPs are listening carefully to concerns “raised by all industry stakeholders on how POC tax receipts on racing could be applied to sustain and grow racing.”

The post Queensland Government Rolls Out New Point of Consumption Gambling Tax appeared first on Casino News Daily.

Monday, June 11, 2018

NJ Sports Betting Finally Crosses The Finish Line As Governor Signs Bill Into Law

NJ Sports Betting Finally Crosses The Finish Line As Governor Signs Bill Into Law
finish line

At long last, NJ sports betting is officially legal in the state. Gov. Phil Murphy signed the sports betting bill into law on Monday, clearing the way for sportsbooks to open at Atlantic City casinos and NJ racetracks.

The post NJ Sports Betting Finally Crosses The Finish Line As Governor Signs Bill Into Law appeared first on .

Connecticut Looks Into Blockchain Implementation for Industries Improvement

CasinoGamesPro.com
Connecticut Looks Into Blockchain Implementation for Industries Improvement

The field of blockchain is a vast universe which seems to have an endless range of offerings and potential possibilities for development within itself which could improve the status quo at any given location. This week brought the news that Connecticut is going to look into the options for development in the crypto list of […]

The post Connecticut Looks Into Blockchain Implementation for Industries Improvement appeared first on CasinoGamesPro.com.

Genting Bets Big on Untapped Andorra Casino Market

Casino News Daily
Genting Bets Big on Untapped Andorra Casino Market

Genting Casinos UK, the UK subsidiary of Malaysian gaming and hospitality giant Genting Group, is planning to invest €140 million in what could turn into one of Andorra’s largest foreign projects.

The government of the tiny nation squeezed between Spain and France is expected to announce the winning bidder for the construction of its first casino resort within the next several weeks. As many as nine developers have submitted 13 bids for the sole casino gaming license.

Genting has actually been one of the companies to place the largest bids. While more details about the company’s project are yet to be released, it has become known that about €90 million of the whole €140-million investment would be spent on the gaming portion of the scheme. The company would also develop a €35-million hotel tower and different facilities, including restaurants, bars, and a spa, as part of the whole resort.

Genting’s project in Andorra is expected to create 600 jobs during construction and around 400 permanent jobs once the property is fully operational. According to information from various sources, Andorra welcomes between 8 million and 10 million international visitors each year. Genting has said that it expects its resort, if it gets the green light from the nation’s government, would annually attract around 600,000 visitors.

The company considers Andorra a strategic market due to its proximity to France and Spain and this is why it is ready to bet big on that untapped market.

Bidding Process

As mentioned above, there were 13 projects to have been submitted as part of the bidding process. The winning developer, slated to be announced by the end of this month, will be granted a 20-year license for the operation of a casino gaming facility within a larger resort.

The bidding process was launched with a requirement for interested developers to each present a project with a minimum investment of €10 million. While most of the bidders submitted smaller-scale plans, Genting has one major competitor to have, too, introduced a €140-million scheme. Spanish casino operator Cirsa is thus bidding for Andorra’s first and only casino license, as well.

Andorra local developer Cierco, Gauselmann Group’s Merkur, and French gaming operator Partouche are, too, participating in the bidding process.

Commenting on the fact that Andorra’s first casino will actually be part of a larger resort, Genting has said that the standalone casino model is now somewhat obsolete and that land-based gaming facilities need to be accompanied by other, non-gaming, venues in order to survive and thrive in a highly competitive environment.

Andorra has become yet another European nation to have been interested in exploring the casino resort model, although its first such property will be of a smaller size when compared to behemoth resorts located across the Las Vegas Strip and Macau.

Hong Kong’s Melco broke ground last week on a €550-million integrated resort in the Republic of Cyprus, while it was understood late last month that Hard Rock International was gearing up to build a €2-billion integrated resort in Tarragona, Spain.

The post Genting Bets Big on Untapped Andorra Casino Market appeared first on Casino News Daily.