Monthly Archives: July 2017

Mohegan Sun eyes to break ground for S. Korea’s casino before year-end

It’s all systems go for U.S. tribal casino operator Mohegan Sun’s planned casino project in Incheon, South Korea.

Mitchell Etess, president and chief executive of Mohegan Gaming and Entertainment, announced on Thursday that the company is eyeing to start constructing its new casino resort before the year ends.

“The company is well into the planning stage of its [South] Korean joint venture, Project Inspire, where we anticipate breaking ground before the end of calendar 2017,” Etess said in a statement.

In May, Mohegan Gaming and Entertainment—formerly known as Mohegan Tribal Gaming Authority—signed a deal with the Incheon International Airport Corp. (IIAC) in connection with the construction of the Inspire Integrated Resort. The casino project is a consortium involving Mohegan Sun, IIAC and South Korean chemicals manufacturer KCC Corp.

Fulfilling Satoshi’s vision: Craig Wright commends Bitcoin Cash initiative

As the debate over bitcoin’s scaling rages on, one of the potential forks—Bitcoin Cash—is being lauded for its attempt to fulfil Satoshi Nakamoto’s vision of true decentralized, peer-to-peer electronic cash with more efficient transaction capacity.

If you’re just joining us, the bitcoin community is currently divided on how to resolve bitcoin’s underlying scaling issue, with several parties proposing to scale the network in different ways. One of these proposals is SegWit2X, which combines Bitcoin Core’s Segregated Witness—whose goal is to send transactions off-chain—and a block size increase.

However, some of SegWit2X’s original backers have started to lose confidence that the proposal will implement the “2X” part, and decided to take the matters into their own hands. This is why on August 1, the group said they will split off from bitcoin and create a new digital currency called Bitcoin Cash.

New coin on the block

Tang Hao’s group acquires over 4M new shares of Amaya Gaming

The shopping spree is not yet over for Amaya Gaming’s little-known Asian investor.

For the month of July, Hong Kong-based investor Tang Hao picked up an additional 4.2 million shares of Pokerstar’s parent company, Amaya Gaming. Last Tuesday, the investor bought 279,200 shares at an average cost of C$22.36 per share, for a total price of C$6.24 million. This was followed by another 500,000 shares that the investor bought last Monday at an average cost of C$22.25 per share, for a total of C$11.12 million.

This is in addition to the 413,000 shares that Hao Tang bought on July 21 for a total of C$9.17 million; the 495,700 shares bought on July 20 for C$11.13 million; the 189,400 shares bought on July 19 for C$4.16 million; the 400,000 shares bought on July 18 for C$8.72 million; and the 400,000 shares bought on July 17 for C$8.78 million.

The investor also purchased 400,000 shares for C$8.83 million on July 14; another 400,000 shares for C$8.87 million on July 13; 420,000 shares for C$9.35 million on July 12; and 380,000 shares for C$8.45 million on July 11.

Robert Chappell gets the boot from Adelaide Gambling Authority

The axe has finally fallen on the longstanding head of Adelaide’s gambling watchdog after a ten-month paid hiatus, according to The Advertiser report. 

Robert Chappell’s removal from the independent Gambling Authority on May 5 puzzled many observers especially after the State Government decided to keep its mouth shut on the issue. And there’s the question on how much money Chappell pocketed since day one of his 10-month paid leave. 

The report added that the government did not leave any clue on whether Chappell received a termination package on top on the money he got for the ten months that he was not inside the office. 

His termination also coincided with SkyCity’s decision to proceed with the $330 million redevelopment of the Adelaide Casino. It would be recalled that independent Gambling Authority and the State Government locked horns over gaming concessions in connection with the SkyCity expansion issue. 

City of Dreams Manila powers Premium Leisure’s Q2 net income

Philippine-listed gaming company Premium Leisure Corp. (PLC) doubles its earnings in the second quarter, thanks to the strong performance of City of Dreams Manila.

In a filing before the Philippine Stock Exchange, PLC reported a net income of PHP 470.25 million (US$9.29 million) during the April to June 2017 period, 104 percent higher than the PHP230.93 million (US$4.56 million) it posted in the previous year.

Gross revenues likewise surged by 55% to P1.25 billion (US$24.71 million) during the second quarter, from P809.29 million a year ago.

The second quarter figures also lifted PLC’s attributable net income for the first six months of 2017 to P895.21 million (US$17.69 million) – that’s  153% higher than the P353.06 million (US$6.98 million) a year ago. Revenues also jumped 58% to P2.52 billion, from P1.59 billion during the same period last year.

iGB Affiliate’s parent company Clarion Events completes acquisition of Affiliate Summit

Acquisition of Affiliate Summit Heralds Exciting New Chapter for Leading Affiliate Marketing Event Companies Affiliate Summit and iGB Affiliate

July 2017 – Clarion Events the parent company of iGB Affiliate is pleased to announce its acquisition of the Affiliate Summit Corporation, which includes the Affiliate Summit tradeshow and conference, FeedFront Magazine, GeekCast.fm, ReveNews.com, and the annual AffStat industry benchmark reports. Affiliate Summit has been at the forefront of the affiliate marketing industry since their inception in 2003.

Affiliate Summit joins Clarion Events alongside the iGB Affiliate brand to further the vision of both companies to provide a comprehensive events and information platform for the affiliate marketing sector. With the acquisition, Affiliate Summit will continue to deliver the premier affiliate marketing tradeshow and conference in the United States, and will now have the opportunity to expand the Affiliate Summit brand internationally.

Additionally, Affiliate Summit Co-Founders, Missy Ward and Shawn Collins with over 20 years’ experience in affiliate marketing, will continue running Affiliate Summit in the capacity of Co-CEOs with the support of their highly regarded team.

Bulgaria’s National Lottery picks Kambi for sportsbook switch

Kambi Group Plc and National Lottery AD, the leading private gaming company in Bulgaria, have signed an agreement for Kambi to provide its leading sports betting and technology services to the operator’s online 7777 brand.

With a customer base in excess of two million, 7777.bg is considered Bulgaria’s premier online lottery and gaming destination. Last year, 7777.bg added a sports betting service to its portfolio however, in order to meet growth objectives, National Lottery has decided to upgrade to Kambi’s award winning sportsbook.

National Lottery, which is fully licensed and regulated by Bulgaria’s State Commission on Gambling, already holds dominant positions in the lottery and gaming verticals and, following its partnership with Kambi, expects 7777.bg to become the country’s number one sportsbook.

It is anticipated 7777.bg will complete the switch to Kambi’s scalable and flexible solution during Q4 2017, at which point the brand will be fully equipped to gain sportsbook market share and compete effectively with Tier 1 operators.

Ohio State favorite to win first Big Ten Championship since 2014

After two somewhat disappointing campaigns, the Ohio State Buckeyes are hoping to bounce back in 2017 and put themselves in position for their second national championship in four years.

The Buckeyes have failed to make it to the Big Ten Championship Game the past two years yet find themselves as strong -120 favorites to take home the title this year, according to oddsmakers.

Last year, Ohio State lost a tiebreaker with the Penn State Nittany Lions in the Big Ten East, with each of them finishing at 8-1 in conference play. The Buckeyes still made their way into the College Football Playoff semifinals though, getting blanked by the eventual national champion Clemson Tigers 31-0 to end up 11-2 overall.

This year, defending Big Ten champ Penn State returns quarterback Trace McSorley and running back Saquon Barkley, who has already set school records for most rushing yards by a freshman and sophomore. Barkley looks to be one of the early favorites to win the Heisman Trophy along with Ohio State quarterback J.T. Barrett, with both players sitting at +800.

3:Barrels: PokerStars Power-Up; time-up; bracelet-up

3: Barrels of a PokerStars vintage as Power Up undergoes a successful trial; the hammer comes down on tankers in ring games and PokerStars Team pros behind World Series of Poker bracelet sale.

Someone within the online poker world needed to show some balls and change the fundamentals of poker to save it from extinction. Interest in our game would have spiralled inwards like a snail shell until hitting the point of oblivion.

Attention deficit hyperactivity disorder (ADHD) is no longer a behavioural symptom of the few. It’s the genetic makeup of the many. PokerStars is aware of this. PokerStars has balls. PokerStars is now waving them in everyone’s face in the shape of a brand new game: PokerStars Power Up. 

Writing on the Corporate Blog, Severin Rasset, Director of Poker Innovation and Operations for PokerStars, announced the end of the Power Up Alpha Testing, and its good news.

MGM Resorts revenue rises, just not on a ‘same store’ basis

Casino operator MGM Resorts posted higher revenue in Q2 but analysts are fretting that the gains were largely due to new venues, not ‘same store’ growth.

MGM says revenue rose 16.3% year-on-year to $2.64b in the three months ending June 30, but operating income fell more than one-third to $501m and net income fell by more than half to $210m, the latter two figures having been artificially boosted by one-off items in Q2 2016.

The revenue gain was in part due to last December’s opening of the MGM National Harbor in Maryland, which the company says contributed nearly $178m to Q2’s total. The results were also skewed by a full contribution from the 50% of Atlantic City’s market-leading Borgata casino that MGM didn’t own at the start of Q2 2016.

As a result, while MGM’s domestic resorts reported revenue rising 22% to $2.1b, like-for-like revenue was down 1% due to a nearly five-point drop in gaming table win percentage. MGM CEO Jim Murren warned that Q3 faced a similarly “challenging comparison” due to favorable table win at MGM’s Las Vegas Strip properties in the same period last year.