Monthly Archives: January 2016

Warehouse worker takes third of $1.6 billion Powerball pot

A small-town warehouse supervisor turned in one of three tickets splitting the world-record $1.6 billion Powerball jackpot on Friday, and swiftly announced that he would take his money now, giving up hundreds of millions of dollars in the future. But John Robinson and his wife, Lisa, said they won’t stop working and won’t make any wild purchases.

Warehouse worker takes third of $1.6 billion Powerball pot

A small-town warehouse supervisor turned in one of three tickets splitting the world-record $1.6 billion Powerball jackpot on Friday, and swiftly announced that he would take his money now, giving up hundreds of millions of dollars in the future. But John Robinson and his wife, Lisa, said they won’t stop working and won’t make any wild purchases.

Battle lines harden in war between UK bookies and racing over ABP scheme

Battle lines are hardening between UK bookmakers and racing over the controversial Authorized Betting Partner (ABP) sponsorship scheme.

Earlier this week, Gala Coral Group CEO Carl Leaver offered a compromise to the British Horseracing Authority’s new ABP scheme, which as of Jan. 1 limits racing sponsorship opportunities to bookmakers who ante up 7.5% of their online race betting revenue on top of the 10.75% share of retail betting.

In a letter to the Racing Post, Leaver offered to “happily” pay 7.5% on online race betting revenue on the condition that the retail levy was reduced to 7.5%. Leaver claimed his company’s racing costs – media rights, sponsorship and levy fees – had risen 45% to £48m in the last seven years, while race betting revenue had fallen 18% to £124m. Leaver called the ABP scheme both “draconian” and “unsustainable.”

In response, the BHA issued a statement saying Leaver’s 7.5% offer was “not a realistic starting point for negotiations.” The BHA rejected Leaver’s ‘draconian’ tag as well as his mathematics, claiming that the Coral boss wasn’t factoring in the side benefits of non-racing wagers that punters may place when they make their racing bets.

Battle lines harden in war between UK bookies and racing over ABP scheme

Battle lines are hardening between UK bookmakers and racing over the controversial Authorized Betting Partner (ABP) sponsorship scheme.

Earlier this week, Gala Coral Group CEO Carl Leaver offered a compromise to the British Horseracing Authority’s new ABP scheme, which as of Jan. 1 limits racing sponsorship opportunities to bookmakers who ante up 7.5% of their online race betting revenue on top of the 10.75% share of retail betting.

In a letter to the Racing Post, Leaver offered to “happily” pay 7.5% on online race betting revenue on the condition that the retail levy was reduced to 7.5%. Leaver claimed his company’s racing costs – media rights, sponsorship and levy fees – had risen 45% to £48m in the last seven years, while race betting revenue had fallen 18% to £124m. Leaver called the ABP scheme both “draconian” and “unsustainable.”

In response, the BHA issued a statement saying Leaver’s 7.5% offer was “not a realistic starting point for negotiations.” The BHA rejected Leaver’s ‘draconian’ tag as well as his mathematics, claiming that the Coral boss wasn’t factoring in the side benefits of non-racing wagers that punters may place when they make their racing bets.

Pennsylvania casinos set new revenue record in 2015, snap two-year losing streak

Pennsylvania casinos reported record revenue in 2015, reversing a two-year streak of annual declines.

According to figures released by the Pennsylvania Gaming Control Board, total revenue at the state’s 12 casinos in 2015 came to $3.173b, a 3.41% improvement over 2014’s figure.

The total surpassed the state’s previous annual revenue mark of just under $3.16b in 2012 and marked the fifth straight year in which the state’s annual casino haul topped the $3b mark. The state also snapped a two-year losing streak that was entirely driven by falling slots revenue.

Total slots revenue in 2015 rose 2% to $2.365b, although this was less than the sums slots brought in the three years spanning 2011 and 2013. Table game revenue was up 7.8% to $808m, a new record and nearly quadruple the sum earned in 2010, when the state first authorized table play at its casinos.

Pennsylvania casinos set new revenue record in 2015, snap two-year losing streak

Pennsylvania casinos reported record revenue in 2015, reversing a two-year streak of annual declines.

According to figures released by the Pennsylvania Gaming Control Board, total revenue at the state’s 12 casinos in 2015 came to $3.173b, a 3.41% improvement over 2014’s figure.

The total surpassed the state’s previous annual revenue mark of just under $3.16b in 2012 and marked the fifth straight year in which the state’s annual casino haul topped the $3b mark. The state also snapped a two-year losing streak that was entirely driven by falling slots revenue.

Total slots revenue in 2015 rose 2% to $2.365b, although this was less than the sums slots brought in the three years spanning 2011 and 2013. Table game revenue was up 7.8% to $808m, a new record and nearly quadruple the sum earned in 2010, when the state first authorized table play at its casinos.