Monthly Archives: June 2018

New Jersey guv signs sports betting bill, wagering could start Thursday

New Jersey Governor Phil Murphy has signed his state’s sports betting legislation, putting the state’s tracks and casinos on track to start wagering operations as early as Thursday.

On June 7, both chambers of the New Jersey legislature unanimously approved bills authorizing single-game real-money sports betting at state racetracks and Atlantic City casinos. Online wagering via state-licensed sites would commence 30 days after Murphy signed the bill into law.

But Gov. Murphy held off immediately signing the bill, sparking confusion and a little acrimony. Murphy was alternately accused of holding the betting bill hostage to the state’s budget debate or considering a conditional veto to add the ‘integrity’ fee sought by the professional sports leagues.

Murphy (pictured) ended the speculation on Monday afternoon by signing the bill into law, saying the state was “finally making the dream of legalized sports betting a reality.” The state waged a seven-year legal battle to get to this stage, and Murphy said betting would boost the “long-term financial prospects” of the tracks and casinos while strengthening the state’s overall economy.

DraftKings gets out begging bowl to fund sports betting plans

Daily fantasy sports operator DraftKings is getting out its begging bowl once again, this time to fund its single-game sports betting aspirations.

On Monday, political and business news site Axios reported that DraftKings was talking to investors about launching yet another funding round. The company is reportedly seeking between $150m and $200m to have its new single-game sports betting operation up and running before the kickoff of this year’s National Football League season.

For the record, this will be the tenth time since 2012 that DraftKings has sought to raffle off a piece of itself in order to grow its business. The most recent round in March 2017 raised nearly $119m. According to Crunchbase data, DraftKings has raised over $715m to date via these funding rounds.

Despite the sports betting hubbub, Axios reported that DraftKings is telling investors that it expects DFS to remain its primary revenue engine for the foreseeable future, given expectations that the state-by-state rollout of legal wagering across the US will not move swiftly.

Portugal’s Santa Casa lottery launches online sports betting

Portugal’s sports bettors have one more online wagering option after the local regulator approved the country’s 13th licensee.

On Friday, the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) regulatory body announced that it had issued an online sports betting license to SAS Social Betting, Gaming and Gambling Online, SA. The company will operate using the Placard.pt domain, which officially launched on Monday.

Placard is the offline betting brand of state lottery monopoly Santa Casa da Misericordia de Lisboa (SCML), which was the primary antagonist against international gambling sites before Portugal liberalized its online market in 2015.

Santa Casa originally announced its intentions to apply for a sports betting license over two years ago. Launching just days before the 2018 FIFA World Cup kicks off, SCML is apparently banking on familiarity with its Placard brand to allow it to hoover up a sufficient volume of customers without a lot of advance marketing work.

Rush Street Interactive pays dearly for Colombian online gambling license

The digital division of US casino operator Rush Street Gaming has been issued an online gambling license in Colombia.

Last Friday, Colombian gaming regulator Coljuegos announced that a newly established local subsidiary of US-based Rush Street Interactive has been issued the country’s tenth online gambling license. The company intends to offer online sports betting and casino games in Colombia under the Rushbet.co domain.

Coljuegos said Rush Street’s new license was valid for a five-year term, for which the company has agreed to pay COP14.2b (US$5m). That’s the highest sum Coljuegos has imposed to date on an online licensee and a significant premium to the COP7.85b that Spanish operator Sportium paid for its five-year license in March and the COP11.2b that Spanish operator Luckia paid for its diploma in February. (Pays to be Spanish, apparently.)

Coljuegos president Juan B. Pérez Hidalgo said Rush Street’s license “confirms the great interest of the private sector” in the Colombian market, which became the first South American jurisdiction to formally regulate online gambling in 2016.

LOT.TO expands African business with landmark Gambia lottery deal

Gambians will soon have access to the world’s richest lottery games after the country inked a deal with UK-licensed iLottery provider LOT.TO to power its first nationwide lottery.

LOT.TO announced that it is working on an advanced online game platform tailored to the Gambian market after the country decided to lift its ban on lotteries.

It would be recalled that The Gambia’s former President Yahya Jammeh banned the numbers game completely in 2015, depriving the country’s 2 million people access to international lottery games such as the U.S.’s Mega Millions and Powerball.

The LOT.TO games were created so that Gambians could participate in these lotteries without breaking the bank and for players to experience the thrill of winning large prizes, according to the company’s Customer Success Head Rob Lawson.

Strong table game results lift GKL May casino sales

South Korea’s second largest foreigners-only casino operator Grand Korea Leisure Co. Ltd. (GKL) recorded a 16.7 percent growth in its casino sales in May, thanks to the stellar performance of its table games.

In a disclosure to the Korean Exchange on Friday, GKL announced that its casino sales for May 2018 grew to KRW40.59 billion (US$37.9 million) from KRW34.76 billion ($32.33 million) during the same period last year.

On a month-to-month comparison, GKL’s casino sales were up 2.7 percent from KRW39.52 billion ($36.76 million) in April 2018.

The company attributed the higher May results to robust table revenue, which grew 21.8 percent to KRW35.58 billion ($33.09 million). It’s a different story when it comes to GKL’s machine revenue, which dropped 10.3 percent to KRW5 billion ($4.65 million) last month.

Bloomberry unit gets green light to buy parent stocks for patrons

A unit of Philippine-listed casino operator Bloomberry Resorts Corp. (BRC) is buying more than 1 million shares of its parent company, which will be given as a reward to Solaire Resort and Casino’s loyal patrons.

In a regulatory filing, Bloomberry Resorts and Hotel Inc. (BRHI) announced that its board members have approved the purchase of up to 1.5 million shares of BRC via at market price.

BRC is Filipino billionaire Enrique Razon’s holding firm which operates, through its subsidiaries, Solaire in Paranaque City and Jeju Sun Hotel and Casino on Jeju Island in South Korea. Other BRC subsidiaries include Sureste Solaire Korea Co. Ltd., Golden & Luxury Co., Ltd., and Muui Agricultural Corp.

A series of filings with the Philippine Stock Exchange showed that BRHI bought 50,000 BRC shares at P11.50 each ($0.22) and another 50,000 shares at P11.52 each ($0.22) on June 6.

Bolt Affiliates partners with MAP to launch their Affiliate Programme

Leading iGaming company, Zeus Gaming has launched its new affiliate marketing programme, Bolt Affiliates in partnership with MAP, the fastest growing iGaming affiliate software.

BoltAffiliates.com has a strong portfolio of brands operated across multiple platforms including Jumpman Gaming and Nektan, with more brands due to launch soon.

The PR head of Bolt Affiliates stated “Bolt Affiliates currently operates four top converting brands, namely MoneyReels.com, RoseSlots.com, CloverCasino.com and EgyptSlots.com with three more brands joining the network soon. We, therefore, needed an affiliate marketing software that has a robust tracking system and multi-level campaign support. We are excited about this partnership with MAP that has all the features to fulfil all our requirements.”

They further added “To celebrate the launch of our affiliate program we are offering a special introductory offer of 50% Revenue Share for all affiliates across all our brands with no negative carry over and no bundling of payments.”

William Shen: Integrated resorts add dimensions to non-gaming entertainment

In this interview with CalvinAyre.com’s Stephanie Tower, Caesars Entertainment Senior Vice President William Shen discusses the unique opportunities that the casino operator sees in Japan.

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CEEGC2018 Budapest announces Bartosz Andruszaniec (RM Legal Kancelaria RadcówPrawnych)

Budapest – 11 June 2018 –The third edition of Central and Eastern European Gaming Conference is gearing up with an impressive lineup of speakers and the team at European Gaming Media promises a unique opportunity for delegates to harvest quality content.

The agenda of the event will also include a market update of the Polish market has been criticized lately for delay in simplified online betting sign-ups. A Polish trade association has criticized the government severely for making the registration process with Polish-licensed online sports betting operators too difficult.

Late last month, Pracodawcy RP (Employers of the Republic of Poland) sent a letter blaming the Ministry of Finance of “making it difficult to develop the bookmaking market” and “hindering” local operators’ ability to compete with internationally licensed gambling sites.

Specifically, the group accused the Ministry of dragging its feet on allowing locally licensed online bookmakers to offer simplified account registration for new customers.