2018 - Master Gambling Bonuses

Monday, September 24, 2018

Macau casinos are back on track after typhoon

Sunday, September 23, 2018

What’s Next for Gambling Tech Giant Playtech?

11:39 PM 0
Casino News Daily
What’s Next for Gambling Tech Giant Playtech?

It has been an eventful year for Playtech and a particularly turbulent one at the same time. The gambling technology company, founded by Israeli businessman Teddy Sagi in 1999, saw its share price fall nearly 50% over the past 12 months and recorded a 34% drop in adjusted profit in the first half of the year. In addition, news emerged that a brand-new Playtech investor is pushing for a corporate governance overhaul and is not very happy about Mr. Sagi’s involvement in the company.

Earlier this year, the tech giant, which has for years been supplying major operators with a variety of products, completed the purchase of Italian gambling company Snaitech for €846 million. In its half-year results, Playtech CEO Mor Weizer attributed the company’s regulated revenue growth namely to that acquisition deal.

However, the debate over the introduction of massive restrictions on the distribution of gaming machines around Italy is becoming more and more intense with each day passing and this could cast heavy clouds over what Playtech hoped would be a purchase that would strengthen its footprint across the regulated gambling space. Snaitech derives nearly half of its overall revenue from the gaming devices.

Most recently, Playtech offloaded its entire stake in CFD trading platform Plus500 for £176 million, stating that it would use proceeds from the deal to reduce its debt and for general corporate purposes.

What is next for the gambling tech giant? The company is facing regulatory pressure and competition in key markets and will clearly have to direct its focus to where it can reap the greatest benefits. In addition, changes are clearly coming for Playtech, but it is yet to be seen how these will affect its operations, profitability and its lure to investors.

Shaky Profitability and Share Price Drop

Playtech has long been targeting a FTSE 100 status. However, it was forced to abandon these ambitions after issuing two profit warnings over the past year and reporting a 34% slump in adjusted profit for the first half of the year. The profit warnings and the eventual significant drop resulted in the company’s share price falling by half over the past 12 months.

Playtech attributed its shaky profitability to its operations in Southeast Asia. The gambling tech giant has maintained its footprint in that particular region for nearly a decade. However, growing competition in China combined with heavy pressure in Malaysia, where the local government has ramped up efforts to crack down on unregulated gambling, have had quite a negative impact on Playtech’s performance over the past year. In Malaysia, in particular, the company saw a significantly lower activity this year compared to two years ago.

On a more positive note, regulated markets offset the losses suffered in Asia. Excluding Asian revenue, the company recorded a double-digit growth during the first half of the year. Playtech further pointed out that it would look to focus on regulated markets which are traditionally more stable and that it expects to generate around 80% of its overall revenue for 2018 from such regulated markets. Around 69% of Playtech’s half-year revenue came from regulated markets, as reported by the gambling software developer.

New Shareholders with New Demands

News emerged last month that SpringOwl Asset Management had invested more than $100 million into Playtech over the span of several weeks, thus acquiring a 5% stake in the company. The New York-based hedge fund is led by US investor Jason Ader, who among other things is known for playing a key role in bwin.party Digital Entertainment’s sale to GVC Holdings. Mr. Ader used his holding in bwin.party to press for the gambling operator’s sale following a prolonged proxy fight with the company’s board which involved him criticizing board members for failing to properly execute the 2010 merger of bwin and Party Gaming, which resulted in a 60% decline in share price.

According to media reports, Mr. Ader is expected to use his newly acquired stake in Playtech to demand disposal of assets or even sale of the gambling tech company. However, Playtech’s corporate governance is understood to be SpringOwl and its leader’s main focus for the time being. Mr. Ader has reportedly expressed concerns over the fact that Alan Jackson has been serving as the company’s Chairman for too long. In addition, the US investor has pointed out that Mr. Sagi’s continuing association with the gambling tech giant he had found is “a negative” for Playtech. The company’s founder currently holds a 6.3% stake in it after selling down his controlling stake bit by bit over the past several years. Mr. Ader has recently told Reuters that he does not have “a sense that the future of this company includes Teddy Sagi”.

In a separate round of news, it became known that London-based privately owned hedge fund Odey Asset Management has quietly bought a 5% stake in Playtech. Reports also emerged that the hedge fund’s co-founder, British businessman Crispin Odey has been in touch with Mr. Ader. Together the two investors own 10% in Playtech, which is more than enough to secure them with the influence required to press for important changes, including a corporate governance overhaul.

According to the latest reports on the topic, a change in the company’s leadership could indeed be asked for by Mr. Ader.

Plus500 Stake Sale

As mentioned above, Playtech sold recently its entire stake in CFD trading platform Plus500 for the amount of £176 million. The company said in a statement that it would use the money it has raked in from the sale to reduce its debt and for other corporate purposes.

The move came days after five of the trading platform’s founders disposed of 9.4 million of their shares for the approximate amount of £145 million, citing personal reasons and “desire to diversify their investments” as the main reasons for their decision. Playtech previously made a £459-million offer to purchase Plus500. However, concerns raised by the UK Financial Conduct Authority combined with pressure from the trading platform’s investors, with Odey being one of them, resulted in the deal’s failure.

Playtech’s recent disposal of its stake in Plus500 has actually been applauded by Mr. Ader. The US investor has pointed out that the gambling tech firm should continue disposing of its financial businesses and focus solely on the gambling portion of its operations as its financial services holdings have proved to be a major distraction.

Conclusion

Bearing in mind the recent developments, it seems that Playtech’s eventful streak is far from over. With brand-new and very demanding investors, the company could be headed toward a sale, a disposal of some of its assets, and/or a corporate governance overhaul. In addition, it would be looking to improve its profitability by directing its focus mainly on regulated markets and gradually reducing the influence unregulated markets have on its business. Last but not least, there clearly will be pressure for Mr. Sagi to exit the company completely and it is rather curious to see whether and how this would happen.

The post What’s Next for Gambling Tech Giant Playtech? appeared first on Casino News Daily.

Read More

Mississippi casino revenue spikes as sports betting debuts

6:18 PM 0
World Casino News
Mississippi casino revenue spikes as sports betting debuts

The regulations having taken effect on July 22, Mississippi’s launch of sports betting is already proving to benefit brick and mortar casinos in the state where overall casino revenue increased significantly in August. PASPA unconstitutional: In an effort to be among the first states in the nation to legalize sports betting, the Mississippi Gaming Commission […]
Read More

Erkut Yilmaz earns WPT Borgata Poker Open win

11:45 AM 0
World Casino News
Erkut Yilmaz earns WPT Borgata Poker Open win

A total of 1,075 players registered to compete in the WPT Borgata Poker Open, with Erkut Yilmaz ending up the event champion. Yilmaz would hold the chip lead going into the final day and after defeating TK Miles in the final round, would eventually earn the first-place finish. Tough Competition: Several big name players were […]
Read More

November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller

5:57 AM 0
Casino News Daily
November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller

Poker action at the Seminole Casino Coconut Creek in Florida is heating up as the WSOP Circuit stop currently taking place there is approaching its final stages and last events on the schedule are being played.

The $2,200 High Roller certainly was one of the most exciting tournaments to take place within the poker festival. The event was completed a few days ago and was taken down by quite a poker celebrity. Jerry Wong, a player from the area, defeated a field that was comprised of some seasoned poker pros to grab the title and the first-place prize of $48,300.

Wong’s triumph was also accompanied by his first-ever piece of WSOP jewelry. Despite being very active on the live poker scene, a gold bracelet from the WSOP and a gold ring from its sister brand, the WSOP Circuit, had long eluded the popular poker pro.

However, it should be pointed out that his hefty poker resume includes an eighth-place finish in the 2016 WSOP Main Event, among other things. This summer, the player cashed in five WSOP tournaments and made three final table appearances.

As for his performance in the $2,200 High Roller at the Coconut Creek casino, Wong successfully navigated through a field of 69 entries over two days of action. The player’s road to victory included a star-studded final table that featured another November Niner – Josh Beckley – three-time gold ring winner Peter Vitantonio, and poker veteran Chad Eveslage, among others.

Final Table Highlights

Wong hopped into the final table holding the chip lead with 560,000 in chips. Beckley was his nearest competitor with 360,000. Wong never really lost his advantage over the rest of the final tablists. The player said that the table draw helped him a lot as he had tougher players to his right, and weaker ones to his left. That created nice opportunities for the player to further amass chips and he took great advantage of those.

By the time there were just five players left in contention, Wong had control over more than a half of all chips in play. And when the field was reduced to just him and his heads-up opponent Mack Ham, the eventual champion had 1.7 million of all 2 million chips in play.

While Wong never let go of the chip lead during the two-handed match, Ham fought fiercely and posed quite some challenge to his opponent. However, the High Roller gold ring was Wong’s to win. Ham walked out in second place for a cash prize of $29,848.

As mentioned earlier, the $2,200 buy-in High Roller drew 69 entries who generated a prize pool of $138,000. The top seven finishers received a share of the money, with min-cashes starting from $7,090. The WSOP Circuit stop at the Seminole Casino Coconut Creek will run through September 24 when the $1,700 is set to be completed.

The post November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller appeared first on Casino News Daily.

Read More

Saturday, September 22, 2018

Halloween celebration at Tropicana Atlantic City

11:57 PM 0
Casino City Times
Halloween celebration at Tropicana Atlantic City
The celebration, on 27 October, includes a Halloween-themed light and sound show, The Rocky Horror Picture Show “Time Warp” dance on the Boardwalk, giveaways and more.
Read More

FanDuel Incorporated reverses New Jersey non-payment decision

5:36 PM 0
World Casino News
FanDuel Incorporated reverses New Jersey non-payment decision

After earlier refusing to pay out on twelve bets it declared had been placed during an 18-second computer glitch on Sunday, New Jersey sportbook operator FanDuel Incorporated has now reportedly relented by announcing that it intends to honor every one of the contentious wagers. Decision includes $82,000 won on NFL wager: According to a Thursday […]
Read More

Landmark Macau gets rebranded

Erkut Yilmaz Joins WPT Champions Club with Borgata Poker Open Victory

5:52 AM 0
Casino News Daily
Erkut Yilmaz Joins WPT Champions Club with Borgata Poker Open Victory

The WPT champions club has a brand-new member and his name is Erkut Yilmaz, a player from Sacramento, California. Yilmaz topped the field of this year’s WPT Borgata Poker Open $3,500 Main Event for a first-place cash prize of $575,112 after putting up a great show in the final stages of the tournament.

The final day of the Main Event was played on Friday at the host venue, Atlantic City’s Borgata Casino. Six survivors returned to play down to a champion. It was namely Yilmaz who led the pack of six with a massive chip advantage over everyone else left. The player had a total of 21.575 million in chips at the start of final day action, good for 144 big blinds and well ahead of his nearest competitor. Oleg Schnaider was that nearest competitor with 7.75 million/52 big blinds.

A long playdown period on the previous day, when players had to whittle down the field to the final six, provided for quick action on the final day. Players began falling out in the very early stages of that last day of the race. The first elimination occurred on the 11th hand of play and it did not take long before the heads-up phase was reached. It is important to note that Yilmaz was the player to dominate action throughout the whole final table.

Heads-Up Recap

While action during the initial stages of final-day play unfolded quickly, the same cannot really be said about the heads-up duel. Yilmaz played against poker pro TK Miles for the title. The match kicked off with the eventual champ holding the chip lead. However, at one point, Miles managed to outmaneuver his opponent and assume the chip leader status for a short while.

Yilmas quickly regained control over the majority of chips in play and from that stage on, the player never looked back. He weakened his opponent’s stack and defense, until Miles did not have much to fight with.

On what turned out to be the final hand in play, Miles limped from the button and Yilmaz checked. The [5h][4s][3s] flop arrived to see Yilmaz check and Miles bet 800,000. Yilmaz raised with an all in. Miles called for his last 15.8 million.

Miles turned over [Kd][5s] to Yilmaz’s [6d][3d]. The [6h] on the turn and the [4h] on the river sealed it for this year’s Borgata Poker Open Main Event. Miles went out as the runner-up. The player received $383,399 for his efforts and for running so deep into one of the most popular tournaments to be taking place annually.

As mentioned above, Yilmaz collected the lion’s share of the prize pool, good for $575,112. His prize also included a $15,000 seat into the season-ending WPT Tournament of Champions.

This year’s edition of the Borgata Poker Open drew a field of 1,075 entries, who generated a prize pool of $3,441,075. The top 136 finishers received a share of the money, with min-cashes starting from $3,049.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post Erkut Yilmaz Joins WPT Champions Club with Borgata Poker Open Victory appeared first on Casino News Daily.

Read More

Golden Entertainment division expands with local acquisition

12:12 AM 0
World Casino News
Golden Entertainment division expands with local acquisition

PT’s Entertainment Group, a division of Golden Entertainment Inc. (NASDAQ:GDEN), has acquired all three of the T-Bird Lounge & Restaurants’ Las Vegas locations. According to the Las Vegas Sun, after completing the acquisition the local pub giant will assume operations of the trio of valley locations including 9465 S. Eastern Ave, 6560 W. Warm Springs Road […]
Read More

Friday, September 21, 2018

FanDuel Sportsbook's glitch resolved

6:09 PM 0
Casino City Times
FanDuel Sportsbook's glitch resolved
After an error, FanDuel refused to pay $82,610 to Anthony Prince, who placed the $110 bet on the Denver Broncos. But after three days of deliberation, the sportsbook paid Prince in full.
Read More

FanDuel Back-Pedals, Agrees to Pay Bettor $82K

11:39 AM 0
Casino News Daily
FanDuel Back-Pedals, Agrees to Pay Bettor $82K

After creating controversy with its decision not to honor a fan’s bet after a glitch in the live odds-making system, FanDuel back-pedaled to avoid the negative publicity. The Newark resident will now receive $82,610 in winnings that should have been paid out according to the 750-1 odds displayed on his ticket.

On Sunday, FanDuel’s Sportsbook at the Meadowlands Racetrack in New Jersey sold a ticket to Anthony Prince, who wagered on the Denver Broncos vs. Oakland Raiders that was being played at the time. The bet he placed on the game was in-play, a term that refers to live bets, so the odds were changing as the game progressed. But an error occurred in the live feed at that specific moment when Prince purchased his betting ticket and as a result, the odds were displayed incorrectly.

Instead of buying into correct odds of -600 on Broncos to win, he received +750,000, or odds of 750-1. This was, of course, a ridiculous betting line caused by a glitch in the odds-making system that lasted 18 seconds, according to FanDuel. Whether knowingly or not, Prince exploited that error. Wagering $110 on the Broncos with the ticket, he should have won $82,610. The sportsbook, however, said that the ticket was actually worth only $18.35 and declined to pay out any additional winnings.

The dispute was almost immediately reported by a local TV channel and a wider coverage followed this week in some of the largest sports media networks. While backed up by the gambling regulations in New Jersey and the company’s own policies, FanDuel’s decision caused huge controversy. On Tuesday, the daily fantasy sports provider and bookmaker issued an official statement, explaining why it would not pay out the erroneous bet. Winning bets were honored at the accurate market price, the company added.

Change of Heart or a PR Stunt?

This past week was marked by a negative publicity for FanDuel caused by the rejection of the $80,000 bet. As per current provisions in the state’s gambling legislation, the bookmaker has the right to void winnings generated from a technical error such as in Anthony Prince’s case. While the decision to stiff that bet may have been, indeed, correct and fair, it was certainly not in the best interest of the company.

Many journalists and sports analysts criticized FanDuel for their stance, saying that it was the bookmaker’s fault for allowing such glitches to happen. Bettors, on the other hand, were not to blame for exploiting flaws in the betting systems. Similar opinions were shared by many sports fans on social media, as well. The bookmaker has probably had a change of heart regarding the dispute as it came out with another statement Thursday evening.

In it, FanDuel explains that it is not legally bound to pay out these erroneous bets. It will honor them either way, however, as it is dedicated to providing its customers with a gambling experience that is, most of all, fun. This one is on the house, FanDuel assures bettors.

With this surprising twist, the sportsbook is apparently recognizing the risk of creating a negative image for itself in the media for a handful of bets, even if they are worth tens of thousands of dollars. Some commentators have described the company’s newly changed position as a PR stunt, and rightfully so. Such criticism could damage not only its public image but also its future business opportunities.

The post FanDuel Back-Pedals, Agrees to Pay Bettor $82K appeared first on Casino News Daily.

Read More

Cherry AB brings Blitzino.com to Germany

6:00 AM 0
World Casino News
Cherry AB brings Blitzino.com to Germany

After launching the Snabbare.com and Hajper.com domains for players in its home nation earlier in the year, Swedish iGaming firm Cherry AB has now announced the premier of the new Germany-facing online casino at Blitzino.com. To be operated by ComeOn! concern: Stockholm-listed Cherry AB used an official Wednesday press release (pdf) to reveal that Blitzino.com […]
Read More

SuperBook to be rolled out across the United States

12:18 AM 0
World Casino News
SuperBook to be rolled out across the United States

American casino owner, Westgate Resorts, has announced that it is set to expand the influence of the SuperBook sportsbetting facility located inside its giant Westgate Las Vegas Resort and Casino by offering the sportsbook’s services as a ‘white-label’ solution. Partnering with Paragon Gaming Corporation: The Orlando-headquartered company used an official Wednesday press release to reveal that […]
Read More

Thursday, September 20, 2018

New hotel-casino could come to Illinois

US State and Local Governments Rake in $40.8 Billion in Gambling Taxes

12:30 PM 0
Casino News Daily
US State and Local Governments Rake in $40.8 Billion in Gambling Taxes

US governments on all levels, federal, state and local, received $40.8 billion in tax revenues from the rapidly growing gambling industry in 2017. The sector contributed $261 billion to the United States economy and employed more than 1.8 million people, a new study by Oxford Economics reveals.

The research, published this week by the American Gaming Association, uncovers the key role of the gambling industry in the nation’s economy. The latest data shows the striking impact of casinos on other sectors such as hospitality, finance, insurance, and real estate. The gambling business has also become a large employer, while tax revenue from it alone provides funds, which would allow for the hiring of 692,000 new teachers, says Sara Slane, senior vice president of public affairs for the American Gaming Association, in an official statement.

According to the American Gaming Association (AGA), casino gaming has expanded to multiple new markets in the past few years, supporting the development and funding of various community projects in education, healthcare, etc. In 2017, the total economic impact of the gaming industry was $261.4 billion. This figure refers to the business sales or the output, which includes much more than just casino revenues.

Instead, researchers at Oxford Economics took various aspects of the gambling industry into account. Native American casinos, for example, generated $33.7 billion in total revenue, while commercial casinos earned $55.7 billion, for a total casino revenue of $89.4 billion. Nearly $73 billion of it represents the gross gaming revenue, while the rest of the money was generated by lodging, food and beverage, and entertainment.

Another figure included in the 2017 statistics is the gaming manufacturers’ revenue, which totaled $6.3 billion. In addition, ancillary spending added another $13.3 billion – these are the purchases of casino patrons that are made outside the gambling facilities but are completely dependent on casinos. Overall, the total direct spending generated by the gambling industry last year was $109 billion. The commercial casino industry brought $40.8 billion in total tax revenues, $10.7 billion of which came directly from gambling.

However, the economic impact of the gambling sales far extends this figure and shows the sector’s actual potential for supporting employment and boosting revenues in many other industries.

Huge Economic Impact

As mentioned above, local, state and federal governments received $40.8 billion in tax revenues from the casino and gambling industry last year. As city and state coffers were boosted by billions of dollars, a wide range of projects and services were funded such as hospitals, schools, public safety, infrastructure projects, educational programs, etc. Interestingly, the total tax impact per household was estimated – it was $343 per US household. In other words, every household in the country received a share of the taxes collected from the gaming sector in 2017.

One of the most important roles of the gambling industry is its influence on employment in the United States, according to researchers. The Oxford Economics study shows that commercial casinos employed 361,000 people, while tribal casinos employed another 198,000 individuals in 2017. The income generated from this labor was $26.5 billion, estimates reveal. An additional 17,100 employees worked for gaming manufacturers, earning $1.1 billion.

Patrons’ ancillary spending, as explained above, directly generated 151,000 jobs in other sectors, with $5.7 billion in labor income. The gambling business supported a total of 727,000 direct jobs that accounted for $33.3 billion of wages, salaries, and tips, the report reveals. That is not all, however, and researchers explain that the business activity of the gaming industry has, in fact, caused a chain effect that ultimately generated indirect labor income of $18.3 billion.

Last, but not least, casino workers, as well as employees in businesses directly or indirectly influenced by the gaming industry spend on services and goods from completely different sectors. As a result, the induced labor income last year totaled $22.3 billion. Overall, the gambling industry supported 1.8 billion jobs that generated $74.0 billion in salaries, benefits, and tips.

The post US State and Local Governments Rake in $40.8 Billion in Gambling Taxes appeared first on Casino News Daily.

Read More

The Caesars Casino & Sports app -- CAESARS ENTERTAINMENT

6:00 AM 0
eGaming
The Caesars Casino & Sports app -- CAESARS ENTERTAINMENT

Caesars Entertainment Corporation recently announced that it’s taking mobile sports bets in New Jersey via The Caesars Casino & Sports app. 

Read More

Under-construction Grand Lisboa Palace unhurt by Typhoon Mangkhut

12:21 AM 0
World Casino News
Under-construction Grand Lisboa Palace unhurt by Typhoon Mangkhut

In Macau, casino operator SJM Holdings Limited has reportedly announced that its under-construction Grand Lisboa Palace was not damaged as a result of Typhoon Mangkhut despite being hit by gusts of wind well in excess of 100 miles per hour. All casinos asked to close: According to a Monday report from GGRAsia, Typhoon Mangkhut was […]
Read More

Wednesday, September 19, 2018

Russian Authorities Arrest 100 People in Illegal Gambling Crackdown

5:48 PM 0
Casino News Daily
Russian Authorities Arrest 100 People in Illegal Gambling Crackdown

The Russian police have revealed an underground casino network in Moscow during a joint operation of several investigative offices. Following a long investigation and more than 80 searches of businesses and homes, authorities have detained 100 people, including the leader of the criminal organization, A. Bazhanov.

The news of the massive operation that uncovered one of the largest criminal syndicates in the Russian capital was announced Wednesday by the press service of ICR, an abbreviation for the Investigative Committee of Russia, which is the country’s anti-corruption agency. The investigation, however, was conducted in cooperation with the Ministry of Internal Affairs and the FSB, the Federal Security Service, which is the main successor agency to the former KGB.

With this large-scale operation, authorities revealed that the criminal organization has created a sophisticated network of 15 illegal casinos and gaming clubs in Moscow. They operated under the guise of legal bookmaker Panorama LLC since May 2016 and provided illegal gambling outside Panorama’s official premises. The betting company is working under several brand names, including GreenBet, UnionBet, and WinLine. Members of the criminal organization managed to conduct unsanctioned gambling operations using specialized equipment.

Investigators have cracked down on the activities of 15 Moscow casinos and detained 100 individuals after a huge number of offices and apartments were searched, ICR’s Yulia Ivanova said. Initially, 47 of them will be charged with different crimes, she added. According to her office, investigators have united a total of 12 criminal cases. This is certainly one of the largest operations against illegal gambling businesses in Russia in the past few years.

Underground Casinos Earned Millions of Rubles Every Month

The criminal syndicate that organized the illegal gambling and betting operations probably started as a much smaller activity of A. Bazhanov. Over a period of 2 years, the network expanded to around 15 gaming clubs and casinos, which generated revenues worth hundreds of millions of rubles every month. The leaders of the group had a lavish lifestyle, according to investigators. They purchased a top-tier real state, as well as expensive cars and other luxury items.

The structure of the network was neatly set up, so the different levels of the operation functioned separately. Many of the individuals did not know their fellow syndicate members but it was the leaders of the organization who were surrounded by the ultimate secrecy. Various technological innovations were used such as IP phones and messaging apps, there was a strict hierarchy, and accomplices’ tasks were clearly distributed.

This is not the first investigation against illegal gambling groups in Russia, with various underground betting shops and gaming clubs being uncovered across the country. According to the data revealed by authorities, however, this large-scale operation has eliminated one of the largest networks of illegal casinos in Moscow. The organization led by Bazhanov is also one of the biggest criminal groups uncovered in the capital.

The post Russian Authorities Arrest 100 People in Illegal Gambling Crackdown appeared first on Casino News Daily.

Read More

FanDuel Sportsbook opens at The Greenbrier

11:36 AM 0
Casino City Times
FanDuel Sportsbook opens at The Greenbrier
The online sports and entertainment company announced the official grand opening of FanDuel Sportsbook at the West Virginia casino and will be the only sportsbook in a private casino in America.
Read More

New Bill Envisions Legalized Sports Betting in DC

6:03 AM 0
Casino News Daily
New Bill Envisions Legalized Sports Betting in DC

Several states have already legalized sports betting after the historic United States Supreme Court decision in May, which deemed the Professional and Amateur Sports Protection Act (PASPA) unconstitutional. The next region to allow sports wagers may easily become Washington D.C. as a new bill was introduced Tuesday.

The legislation was proposed by D.C. Council member Jack Evans (D-Ward 2) who said in a statement that if passed into a law, the bill would bring more revenue to the District. According to him, the District should act quickly if it wants to tap into this new and lucrative market. In order for the region to secure boost to city coffers, however, D.C. lawmakers should take action as soon as possible.

Neighboring Maryland already has casino gambling, while Virginia is considering sports betting. In his statement, Evans points out that the Hollywood Casino at Charles Town Races in West Virginia is currently targeting D.C. gamblers. In fact, this is the closest gambling facility available to D.C. residents as it is located only 75-minute drive from Washington Downtown. According to the Council member, the proposed bill would bring in revenue for the District rather than other jurisdictions making money off of D.C. gamblers.

The bill was introduced by Evans along with Council members Cheh, Gray, Bonds, and Todd. It is now being referred to the Committee on Finance and Revenue and needs to go through several procedures before being passed as law. Evans believes that the majority of his colleagues in the Council are in support of the amendment of the current gambling legislation. He says the bill has been drafted with the offices of Mayor Muriel E. Bowser (D) and D.C. Council Chairman Phil Mendelson (D).

The Washington Post published the Bill and contacted both the Mayor and the Council Chairman. While Mendelson told the paper that was against legalized gambling, he was a strong supporter of the amendment because it reflected the Supreme Court’s decision. He thinks that with the lifting of the federal ban on sports betting, an increased number of states would join New Jersey and would allow wagers on sports events.

Sports Betting Bill Highlights

D.C. Council member Jack Evans proposal would allow residents of the District of Columbia to bet both in land-based facilities and online on websites and on mobile devices. The terms “sports wagering” includes parlays and single-game bets, as well as live bets. Overall, all types of bets are being considered, including money lines, teaser bets, over-under, pools, exchange wagering, straight bets, and proposition bets.

The bill also consists of provisions regarding the sports wagering operators. For instance, the initial license term would be 5 years and applicants will need to pay a license fee of $50,000, with another fee of $50,000 payable at the time of license renewal. The proposed tax is 10 percent of the monthly gross revenue of the operator. However, there is no mechanism for collecting the taxes. Evans does not include an initial projection for the size of the market in D.C. and there are no estimates of the potential tax revenue received by the District.

Evans’ proposal was supported by the Mayor’s office. In a statement, Bowser’s chief of staff John Falcicchio said that legalized sports betting could help the District fund critical programs and create jobs for the residents. Half of the revenue would subsidize early-childhood care programs and some of the money would go to the D.C. Commission on the Arts and Humanities.

The post New Bill Envisions Legalized Sports Betting in DC appeared first on Casino News Daily.

Read More

Tuesday, September 18, 2018

Formula One Inks Historic Sponsorship Deal to Launch Live Betting

11:36 PM 0
Casino News Daily
Formula One Inks Historic Sponsorship Deal to Launch Live Betting

Formula One, the highest and most prestigious class of auto racing sports in the world, has surprisingly changed its years-long attitude towards sponsorship by bookies on Tuesday. The brand’s owner, Liberty Media, announced it has signed a sponsorship and data rights deal with Interregional Sports Group and Sportsradar.

As part of the groundbreaking partnership, the first ever F1 betting offering will be created, allowing fans to place live bets on the competition. According to an official press statement, released Tuesday, the deal enables the development of in-play betting markets. For the first time in the history of Formula One, millions of people around the world will be able to wager easily on Grand Prix.

This is the first strategic partnership for Formula One and according to media reports in The Edge, the contract between Liberty Media and the two companies costs US$8 billion. The Financial Times estimates that the deal will be worth at least $100 million over the next five years. Interregional Sports Group (ISG), which is a London-based marketing agency, will grant betting partnership rights to various betting brands in regulated markets. This will include on-screen graphics, trackside signage, as well as digital integration with the social platforms of Formula One, the statement reveals.

Although the details of the deal are still unclear, ISG would make an upfront payment to Formula One and then, it would sell the access rights to gambling companies. The other company in the partnership is Sportsradar, a sports betting and data analyzing firm, headquartered in Switzerland. According to the press release, the company and its Fraud Detection System will provide assistance with the safety and integrity policies. It already works with various rights holders and helps them prevent and fight match-fixing. Some of these leagues are NBA, NHL, FIFA, World Rugby, ITF, UEFA, AFC, and more.

F1’s First Betting Sponsorship Deal in 40 Years

During Bernie Ecclestone’s era, which continued for 40 years, the endorsement from betting companies was not allowed. Ecclestone who ran Formula One since the 1970’s did not want the brand to be associated with gambling in order to preserve its glamorous image. Most sports, leagues, and teams, on the other hand, have signed multi-million sponsorship deals with sports betting and gambling companies over the years. Such partnerships have increased in value in recent years, earning fortunes to some of the most successful teams in the world.

The deal with ISG and Sportsradar will not only allow fans to place live bets but it will also enable advertisements to be displayed on electronic billboards track-side. Gambling brands will be flashed on the track and on-screen during televised races. After this partnership takes into effect, Formula One will become a lot like English football, for example. This season, 17 of all 24 Championship clubs and 9 of all 20 Premier League clubs are sponsored by sportsbooks, which names are clearly displayed on footballers’ shirts.

The move is an important shift in the business strategy from what was practiced over decades under the previous owner. But it also comes in a time of controversy regarding the influence of gambling giants on sports groups and major sporting leagues. For this season, Formula One has 21 races which take place worldwide. Some of the countries where they are held, however, prohibit or restrict gambling ads during live broadcasts.

The post Formula One Inks Historic Sponsorship Deal to Launch Live Betting appeared first on Casino News Daily.

Read More

Osaka seeks women support

Relax Gaming announces new Erik the Red slot game

12:12 PM 0
World Casino News
Relax Gaming announces new Erik the Red slot game

Online slot gaming fans must prepare to go on a seafaring adventure with an exciting new release by Relax Gaming. The top-rated platform supplier and casino games creator has announced their latest video slots title featuring a fire-bearded Viking, Erik the Red. The new 5×4 video slot game involves Erik and Helga, his wife, as […]
Read More

Video Review: Eastern Emeralds from Quickspin

6:33 AM 0
Casino City Times
Video Review: Eastern Emeralds from Quickspin
Set in the Asian wilderness with beautiful mountains, the five-reel game with 20 paylines features oriental themes with dragons, fishes and birds.
Read More

Visitor Numbers at MGM Springfield Exceed Expectations

12:27 AM 0
Casino News Daily
Visitor Numbers at MGM Springfield Exceed Expectations

The number of daily visitors at the recently opened MGM Springfield has been around 50,000 on average during weekends and approximately 25,000 on weekdays, which significantly exceeds expectations. Revenues have also been higher than initial projections, casino officials told state regulators.

MGM Springfield, a $960 million investment by MGM Resorts International, opened on August 24 as Massachusetts’ first commercial casino resort. Since its grand opening, which was marked by huge celebrations and music performances by the likes of Stevie Wonder and Dropkick Murphys, the resort is seeing a surprisingly large attendance, especially during weekends. Daily visitors are averaging 50,000, while the numbers are half during weekdays, MGM Springfield President Michael Mathis said last week at a meeting with the Massachusetts Gaming Commission.

According to him, the operator’s early projections were rather modest compared to the actual figures reported so far. The company had estimated that there would be between 15,000 and 20,000 visitors a day. In reality, around 25,000 on average visit the integrated casino resort on weekdays. Revenues are also showing great potential, although it is too early for conclusions as the casino opened less than a month ago. As expected, Mathis did not share specific figures.

During the Thursday meeting, casino officials also reassured the Gaming Commission that they the facility is complying with all regulations. As a result, the state regulator voted unanimously to grant MGM Springfield a permanent certificate of operations. Until now, it was operating under a temporary license. The state receives 25 percent of the gross gambling revenues generated by the 14-acre facility. According to earlier projections, MGM could earn around $500 million in winnings, which would translate to roughly $125,000 in taxes for the state. Still, there are no clear figures on the revenues generated so far.

New Policies to Keep Minors Off Casino Premises

All seems to be going well for the new casino resort. Several issues have been reported by the MGM Springfield, however, with underage access to the casino being the most serious one. There was a case when minors were discovered on the casino floor, which is a clear violation of Massachusetts law. The operator has, since then, taken steps to stop and prevent underage gambling, Mathis explains.

One of the measures states that individuals under the age of 16 will not be allowed at the facility if they are not accompanied by an adult. In addition, people under the age of 21 will not be able to enter the casino after midnight. The only exception is made for the guests at the resort who may be staying with their family members.

Of course, there are lots of non-gambling amenities at MGM Springfield that can be visited by both adults and youngsters. They include restaurants and retail stores, a bowling alley and a movie theater, slated for an opening very soon. The outdoor plaza is a popular venue for concerts, comedy performances, group yoga classes, etc. There is also a spa and fitness center with a swimming pool.

The post Visitor Numbers at MGM Springfield Exceed Expectations appeared first on Casino News Daily.

Read More

Monday, September 17, 2018

Feast Buffet debuts only overnight buffet in Valley

6:15 PM 0
Casino City Times
Feast Buffet debuts only overnight buffet in Valley
The new Feast Buffet at Palace Station Hotel and Casino has introduced the only overnight buffet available in Southern Nevada along with an exclusive menu to cater to the late night dining crowd.
Read More

Starlight Casino Edmonton to officially open next week

12:33 PM 0
World Casino News
Starlight Casino Edmonton to officially open next week

In western Canada, casino operator Gateway Casinos and Entertainment Limited has announced that its $43 million transformation of the Palace Casino into its new Starlight Casino Edmonton has been completed and is to be officially opened on September 26. Plethora of gaming attractions: The Vancouver-based firm used a Friday press release to reveal that the […]
Read More

Eldorado obtains approval to own Tropicana

Breast Cancer Awareness Month at Therapy Restaurant

12:06 AM 0
Casino City Times
Breast Cancer Awareness Month at Therapy Restaurant
Therapy restaurant, located in the Fremont East Entertainment District, will offer specialty cocktails in honor of Breast Cancer Awareness Month throughout October.
Read More

Sunday, September 16, 2018

First Nation breaks ground on $38 million Dakota Dunes hotel project

6:03 PM 0
World Casino News
First Nation breaks ground on $38 million Dakota Dunes hotel project

Ground was broken on a $38-million Dakota Dunes Hotel project south of Saskatoon Saskatchewan, Canada by the Whitecap Dakota First Nation on Thursday. Indigenous Services Canada reports that the project includes a 155-room hotel, a restaurant, pool and a fitness and business center and is expected to open in 2020. Premier tourist destination: The hotel is […]
Read More

Pragmatic Play launches Da Vinci’s Treasure slot game

12:21 PM 0
World Casino News
Pragmatic Play launches Da Vinci’s Treasure slot game

Top online gaming provider Pragmatic Play has announced a new slot game titled Da Vinci’s Treasure, offering players yet another blockbuster title to enjoy at the best online casinos. The 3×5 slot game takes players along as John Hunter, explorer extraordinaire, sets off on a treasure hunting adventure. Follow along with John as he tries […]
Read More

Biggest WPT Borgata Poker Open Champs over the Years

6:15 AM 0
Casino News Daily
Biggest WPT Borgata Poker Open Champs over the Years

Another major event on the fall live tournament poker calendar is set to kick off in just a few hours and excitement is certainly building up at the Borgata Hotel Casino & Spa where it will take place. Of course, we are talking about the WPT Borgata Poker Open $3,500 Championship, an event that has been part of the WPT schedule since Season 2 of the popular poker series.

This year’s edition of the tournament is set to take place from today, September 16, through September 21. As mentioned earlier, it is a $3,500 buy-in event. The Championship features a guaranteed prize pool of $3 million, but hopes are that there will be a massive interest in it and it will draw a plethora of players to crush the guarantee.

Last year, the WPT Borgata Poker Open Main Event attracted a behemoth field of 1,132 entrants who smashed the guarantee and generated a prize pool of $3,623,532. Guo Liang Chen was the player to outlast the massive field and collect the tournament trophy and the lion’s share of the prize pool. Chen’s first-place prize amounted to $789,058.

It is yet to be seen how much this year’s champ will scoop for remaining the last person standing from the field of one of the most prestigious events to be taking place annually as part of one of the world’s most popular live poker series.

To celebrate the start of a brand new edition of the WPT Borgata Poker Open Championship, Casino News Daily has looked back over the years to present its readers with the three biggest winners of this thrilling tournament. And here they are:

Roy Winston – $1,575,280

Roy Winston won the Borgata Poker Open Main Event back in 2007, or the Season 6 edition of the tournament. The player was part of a 560-strong field. Each of the tournament’s entries paid a buy-in fee of $10,000, which eventually resulted in the creation of a prize pool of $5,432,000. Winston’s share of the prize pool amounted to $1,575,280. That was the largest ever prize to have ever been won within the Borgata Poker Open.

Winston played a star-studded final table that included the likes of Mike Matusow and Haralabos Voulgaris. The player eventually played heads-up against poker amateur Heung Yoon. The latter collected $832,725 for his runner-up finish.

Mark Newhouse – $1,519,020

Newhouse won the Season 5 edition of the tournament back in 2006. The player outwitted a field of 540 entries to collect $1,519,020. The event was a $10,000 buy-in one and featured an overall prize pool of $5,238,000.

Newhouse started his poker career in a particularly exciting way. The player deposited $50 with partypoker to turn it into more than $100,000 within the span of a single month. He won another $100,000 in the very next month, which convinced him that he should pursue a career in poker. It is also interesting to note that Newhouse is one of the few players to have secured spots at the final table of back-to-back WSOP Main Events. The player finished ninth in the 2013 and 2014 editions of the World Championship.

Al Ardebili – $1,498,650

Ardebili won the prestigious WPT Borgata Poker Open title back in 2005 after successfully surviving a field of 515 tournament entries. The tournament featured a prize pool of $4,995,500, generated from the $10,000 buy-in fee paid by its entries.

Ardebili scooped his title after four days of quality poker action that saw him remain the last surviving participant. The player played heads-up against Ricardo Festejo to have his [Ah][9s] on the final hand dealt within the tournament sent his final opponent to the rail. Festejo collected $799,280 for his efforts.

The post Biggest WPT Borgata Poker Open Champs over the Years appeared first on Casino News Daily.

Read More

Florida’s Gambling Industry Pours $1.25 Million in September to Fight Amendment 3

12:24 AM 0
Casino News Daily
Florida’s Gambling Industry Pours $1.25 Million in September to Fight Amendment 3

Florida’s gambling industry has stepped up efforts to fight an amendment that will be voted on the November 6 ballot and that, if approved, will give state residents the authority to decide whether there should be any form of casino gambling expansion on the territory of Florida.

According to a newly submitted finance report, representatives of the state’s gambling industry contributed the amount of $1.25 million to the Citizens for the Truth About Amendment 3 Inc. political committee in the period between September 4-7. The committee was established this past July to put efforts into fighting the so-called Amendment 3 that is set to appear on the November 6 ballot.

Generally speaking, the aforementioned measure aims to give Florida voters the right to decide on whether casino gambling should be authorized under Florida law. If approved in November by a 60% majority of voters, the proposed amendment would change the state Constitution, under which it is now up to lawmakers to determine whether more gambling businesses should be allowed to operate anywhere in Florida. If the Amendment 3 measure takes effect, any gambling expansion proposals will have to be approved by 60% of all voters.

According to the latest finance report, Las Vegas gaming and hospitality giant MGM Resorts International and Jacksonville Greyhound Racing Inc. each poured $500,000 into the Citizens for the Truth About Amendment 3 initiative from September 4-7. In addition, the South Florida Racing Association contributed the amount of $250,000. Figures show that the committee has raised more than $3.5 million since its establishment in July.

Disney and Seminole Tribe Biggest Sponsors of Amendment 3

It is important to note that Florida’s gambling industry has two huge opponents in its fight against Amendment 3. Disney and the Seminole Tribe of Florida, which operates seven casinos across the state, have so far poured $26 million of the total amount of $27 million raised for the promotion of the proposed measure.

It also should be pointed out that both Disney and the Seminoles have no interest in any form of expansion of gambling in the state due to competition concerns. The tribe currently holds the monopoly over casino gambling and certainly wants to keep that monopoly for as long as possible. As for Disney, it does not operate any gambling establishments, but it is a huge stakeholder in the state’s entertainment industry. Any form of gambling expansion will certainly concern the entertainment conglomerate, hence its support for Amendment 3.

According to a recently conducted poll, commissioned by Voters in Charge, the organization behind Amendment 3, 71% of Florida’s likely voters would support the proposed measure during the upcoming General Election in November. Analysts believe that the amendment has a big chance to pass because it is pretty straightforward and easy to understand and gives Florida residents back the authority to decide on gambling-related matters.

Following the original legalization of gambling in the state in the early 1990s, it had been up to voters to decide on gambling expansion matters. It has actually been only recently when lawmakers assumed full authority over such matters.

The post Florida’s Gambling Industry Pours $1.25 Million in September to Fight Amendment 3 appeared first on Casino News Daily.

Read More

Saturday, September 15, 2018

Evolution Gaming Group AB inks Les Ambassadeurs Casino arrangement

5:57 PM 0
World Casino News
Evolution Gaming Group AB inks Les Ambassadeurs Casino arrangement

Live-dealer online casino games provider Evolution Gaming Group AB has announced the signing of a deal that is to see it open a studio inside Les Ambassadeurs Casino while additionally installing Dual Play Roulette and Dual Play Baccarat ‘convergence’ tables on the west London property’s casino floor. Authentic Privee Live Casino: According to an official Friday […]
Read More

Free October events at Pala

11:52 AM 0
Casino City Times
Free October events at Pala
The California casino will continue its free events series in October featuring the 60+ Club at 1 p.m. on Tuesdays, and the underground wine CAVE, the new, expanded Luis Rey's and Bar Meets Grill on weekends.
Read More

Confetti Casino online casino -- FORT MASON GAMES

6:00 AM 0
eGaming
Confetti Casino online casino -- FORT MASON GAMES

Fort Mason Games recently debuted its mobile app, Confetti Casino, a Vegas-style slots game.

Read More

Friday, September 14, 2018

Live! Casino and Hotel debuts ground-breaking TrackIt advance

11:45 PM 0
World Casino News
Live! Casino and Hotel debuts ground-breaking TrackIt advance

In Maryland, Live! Casino and Hotel has announced that its players can now redeem vouchers that have been printed at one of its over 4,700 slots for table chips following the successful installation of the TrackIt innovation from developer Aristocrat Technologies Incorporated. Part of developer’s Oasis 360 solution: According to an official Monday press release […]
Read More

Rí Rá Las Vegas celebrates Halfway to St. Patrick's Day

6:00 PM 0
Casino City Times
Rí Rá Las Vegas celebrates Halfway to St. Patrick's Day
The official Halfway to St. Patrick's Day party starts on Monday, 17 September at the Irish pub in Las Vegas.
Read More

Eldorado Resorts Receives Temporary Regulatory Nod to Operate Tropicana Casino

11:48 AM 0
Casino News Daily
Eldorado Resorts Receives Temporary Regulatory Nod to Operate Tropicana Casino

Gaming and hospitality company Eldorado Resorts has been given a temporary approval to own and operate Tropicana Casino in Atlantic City. The move comes as part of a $1.85-billion acquisition deal that will see Eldorado assume control over the gambling venue’s parent company Tropicana Entertainment. The later company owns six more casino properties across six states.

The New Jersey Casino Control Commission issued earlier this week a temporary license that authorizes Eldorado to operate Tropicana, while its application for a full license is under review. The gambling venue was Atlantic City’s second highest grossing casino last year, trailing only behind the Borgata.

At present, Tropicana is one of the city’s few casinos that do not provide sports betting, following the legalization of that type of activity in the state in early June. However, this is about to change soon. The casino announced earlier this week that it has penned a partnership agreement with British bookmaker William Hill that would see the launch of a sportsbook at the property.

Tropicana General Manager Steve Callender said in a press release from a few days ago that a brand-new facility is currently being created in the casino’s North Tower and that it would host sports betting. More details are expected to be released in the coming weeks.

In a separate round of news, Eldorado announced last week that it has entered into an agreement to buy a 20% stake in William Hill’s US business. In addition, the bookmaker would become the exclusive sports betting partner for the Reno, Nevada-based gaming and hospitality company. Eldorado currently operates 21 properties in 11 states. The acquisition of Tropicana Entertainment will extend the company’s footprint across two new states.

Details about the Deal

It was in April when Eldorado announced that it would acquire Tropicana Entertainment and its properties across six states in a deal valued at $1.85 billion. Tropicana is currently owned by New York investor Carl Icahn. The transaction is expected to be completed sometime in the fourth quarter of the year.

It is also important to note that Eldorado has partnered casino REIT Gaming and Leisure Properties to buy Tropicana Entertainment. The deal will see Gaming and Leisure pay the amount of $1.21 billion and lease the Tropicana properties to Eldorado, while the latter company will pay the remaining $640 million.

The purchase of Tropicana Entertainment was Eldorado’s second major acquisition deal in 18 months amid a wave of consolidation within the US land-based casino industry. Last May, the Nevada-based gaming and hospitality company completed the acquisition of Isle of Capri Casinos for $1.1 billion.

Separately, Eldorado also announced earlier this year that it has agreed to buy Grand Victoria Casino in Elgin, Illinois from rival MGM Resorts International for the total amount of $327.5 million.

Follow us on Facebook and Twitter to stay up to date on the day’s top casino news stories.

The post Eldorado Resorts Receives Temporary Regulatory Nod to Operate Tropicana Casino appeared first on Casino News Daily.

Read More