2014-08-25

BIG ONLINE GAMBLING DEAL FOR NET ENTERTAINMENT



Swedish online gambling software provider Net Entertainment NE AB has inked a content agreement with UK focused Betfair, one of the worlds largest international online sports betting operators.
Founded in 1999, Betfair is a pioneer in online gaming holding gambling licenses in Gibraltar, Malta, Spain, Italy, the United States and Australia. Betfairs revenues amounted to GBP 387 million in 2013 and the company has more than 950,000 active customers.
This agreement will further strengthen NetEnts exposure on the UK market but also in other parts of Europe. said NetEnt's Malta md Bjrn Krantz Monday.




2014-08-25

NOT ALL DOOM AND GLOOM IN ATLANTIC CITY



It's not hard to lose sight of the potential of Atlantic City amid the current doom and gloom reports of failing income and land casino closures, but the New Jersey Division of Gaming Enforcement had some positive news Friday when it announced that second quarter overall gross operating profits by Atlantic City's 11 operating land casinos increased 35 percent.
Top earner was the Borgata Hotel Casino & Spa, which reached an $88 million tax settlement with the city in June. Most other casinos, while turning a profit, saw that profit decline in the second quarter.
The Borgata posted the largest operating profit at $43.2 million, compared with $28.1 million in the second quarter last year, a rise of more than 53 percent. But Joe Lupo, the casinos senior vice president, said $11.8 million of a tax settlement was applied to second quarter earnings.
The DGE figures show the casinos posted a collective gross operating profit of more than $83 million in April, May and June of this year...an increase of 34.9 percent compared with the same period last year, when New Jersey had not yet legalised Internet gambling.
Gross operating profit reflects earnings before interest, taxes, depreciation and other charges, and is a widely accepted indicator of profitability in the casino industry.




2014-08-25

ADELSON SHAPING UP FOR ANOTHER MAJOR CONFRONTATION



Las Vegas Sands multi-billionaire owner Sheldon Adelson has been making headlines with his implacable opposition to online gambling in the United States, but he may face a more formidable foe to his company's expansion in Florida.
The investment publication Motley Fool reports that the Walt Disney World Resort in Orlando is a cornerstone of Disney's global operations, comprising more than 31 percent of the company's revenue in 2013, and one of its most successful and fast-growing enterprises.
And it sees attempts by Adelson and others to introduce massive casino resorts into the region as threats, potentially diluting the massive flow of 18.6 million visitors it enjoyed in 2013.
Earlier this year Disney vigorously opposed legislation to allow casino expansion into Florida, led by Adelson's company.
At present, state law in Florida allows for eight Native American casinos with Vegas-style gambling, and 31 pari-mutuel betting facilities. The threat to Disney is that LVS can offer a family-friendly, fully integrated resort that includes not just gambling, but many forms of non-gaming entertainment.
With theme park revenues alone of $14 billion last year, Disney's clout outpaces even LVS, which reported total revenues of $13.77 billion in 2013.
The issue is being highlighted as the November election of the state's next governor looms, with the main contenders Republican incumbent Rick Scott (known to have visited Adelson and to have ambitions beyond Florida) and Democrat Charlie Crist.
The two are embroiled in an at times vicious political competition for power as each seeks to demean the morals and business-development potential of the other, aided by competing state interests.
Both have been treading carefully around the gambling and casino issue, but the media and the voting public are becoming increasingly insistent that they are specific in their views, and the expectation is that they will have to nail their colours to the mast soon.
Given his relationship with Adelson and ambitions for the White House, Scott seems likely to back the LVS expansion into Florida. He has a record of claiming that gambling expansion can create more jobs and tax revenues for the state.
A study commissioned by Florida lawmakers in October last year showed that allowing full casino resorts could increase spending in Florida by $1.5 billion annually.
According to Bloomberg business news, Disney has contributed $1.7 million to Florida lawmakers since 2012, though gaming companies and interests combined have contributed $3.4 million.
That sort of money invariably gets the attention of lawmakers, and the indications are that Adelson could have a major fight on his hands with a formidable opponent in Disney.




2014-08-25

WHAT'S UP AT CLUB GOLD ONLINE CASINO?



Speculation is currently rife on several player forums regarding unheralded changes at the Club Gold online casino, which has reportedly dumped a mixed platform of NetEnt, Microgaming and BetSoft games for the largely unknown Hawk Gaming (Hawk.gs) product.
Further intriguing players are allegations from former staff members that they were dismissed with little notice or warning.
The company has thus far apparently not deemed it necessary to keep players and affiliates in the loop regarding its radical switches.
Hawk appears to be associated with Habanero Systems BV and offers online casino, sportsbetting and poker software portfolios that include 50 slots, 6 table games and 10 video pokers. The company has developed Flash (no download) games, which are available in six mainly Asian languages.
Club Gold switched to the previous mixed platform from Playtech in April this year, further deepening the mystery.




2014-08-25

AUSSIE ONLINE LOTTERY COMPANY PROFITS DIP



Jumbo Interactive, an Australian publicly listed company whose core activity is international online lottery operations, has reported declines in revenue and profits which it attributes to lower jackpot activity.
Posting its FY results to end June, Jumbo reported y-o-y revenues down 4.2 percent at A$24.13 million, and profits after tax of $2.78 million, a decline of 6.6 percent.
Start-up costs in the German market and the on-going development of operations in Mexico, which have yielded negligible income during the year, undercut company savings through cost-cutting