Annual event will be held Aug. 16 in Saratoga Springs, N.Y.
Monthly Archives: February 2020
Silver Dust Faces Stiffer Competition in Mineshaft
A month after beating five foes in the $100,000 Louisiana Stakes (G3) Jan. 18, Silver Dust races for double the purse and faces double the competition when matched against 10 rivals in the $200,000 Mineshaft Stakes (G3) at Fair Grounds Feb. 15.
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Bulgaria’s gambling regulators face organized crime charges
Bulgarian prosecutors have charged two members of its gambling regulatory agency with involvement in an organized crime group overseen by fugitive gambling czar Vasil Bozhkov.
On Tuesday, Bulgarian media reported that the nation’s Specialized Criminal Court had files charges of involvement in an organized crime group against former chairman of the State Commission on Gambling Alexander Georgiev (pictured) and Todor Markov, who headed up the Commission’s monitoring department.
(These media sources actually indicated that the Georgiev who was accused of organized crime was Plamen Georgiev, the former head of Bulgaria’s anti-corruption commission. While Plamen has dealt with his own corruption scandals, he doesn’t appear to be linked to the current gambling brouhaha.)
Prosecutors had sought to keep both Georgiev and Markov in police custody while the charges were pending but the Court instead ordered both men under house arrest. Both men were also ordered to refrain from contacting any Commission officials while their fate is being discussed.
British Idiom to Start Year in Rachel Alexandra
With a Breeders’ Cup victory and an Eclipse Award to boot, British Idiom is set to make her 3-year-old debut Feb. 15 in the $300,000 Rachel Alexandra Stakes (G2) at Fair Grounds Race Course & Slots.
Andrew Cary Launches Cary Bloodstock
Cary Bloodstock will offer a full complement of bloodstock services, including buying and selling horses of all ages, mating analysis, and portfolio management.
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Kangwon Land, Grand Korea Leisure report Q4 profit spikes
South Korea’s only locals-allowed casino Kangwon Land reported a double-digit profit rise in 2019 thanks to a strong showing in the year’s final quarter.
Figures released Tuesday show Kangwon Land’s revenue totaled just under KRW393b (US$332.7m) in the final three months of 2019, a 6% rise over the same period last year, while Q4 profit more than doubled to KRW53b as margins rose to 14.2% from 5.4% the year before.
The company was firing on all cylinders in Q4, with gains in mass market tables (+3.7%), VIP tables (+6.2%) and slots (+10.4%). However, revenue from all three verticals suffered a sequential decline from Q3 of nearly 6%.
Nevertheless, Q4’s annual gains were enough to push 2019’s full-year revenue up 5.7% to KRW1.52t, while operating income was up 16.6% to KRW502b and net profit gained 12.7% to KRW335b.
Gouverneur Morris Set for 2020 Debut at Tampa Bay Downs
It looks like Triple Crown hopeful Gouverneur Morris will be returning to the races a little sooner than expected.
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POGOs hire 80% foreigners, don’t pay tax bills
One of the biggest defenses of the Philippine Offshore Gaming Operators (POGOs) that I could think of is that they are job creators. Thousands of Filipinos are being paid well to make the industry thrive in the Philippines, and that’s a good thing. Senator Joel Villanueva took a swipe at that theory recently, pointing out an imbalance created by hiring predominantly foreign employees.
8 out of 10 POGO jobs go to foreigners, Villanueva claims. According to December 2019 figures gathered by the Philippine Amusement and Gambling Corporation (PAGCOR), 17.7% of employees in the POGO industry are local, while 82.3% are foreigners. And as these are the numbers for the legitimate POGOs, Villanueva feared its worse in the black market.
“If legitimate Pogo companies in this sector employ few Filipinos, we can only surmise as to how worse it is in illegal Pogos,” Villanueva said in a statement Monday. “The data we have now is just the tip of the iceberg. It’s a grim picture of our labor force.”
Even without baseless speculation, the number is a clear problem. “This trend exactly presents a clear problem from a labor policy perspective,” said Villanueva on February 10.
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William Hill is now even more of a steal
There are plenty of reasons to buy William Hill, the newest one being newly-struck deal with CBS on U.S. sporstbook. It adds on to the pile of reasons, but not because it will lead to quick sportsbook gains in the United States specifically. If that is your expectations, you’re buying for the wrong reason. Buying for the wrong reasons isn’t such a bad thing, unless it leads to the flipside of buying for the wrong reason, which of course is selling for the wrong reason. Buyers of this deal should not expect William Hill’s U.S. numbers to jump significantly any time soon. Consider it just another tool that the company now has in its versatile belt.
Remember the ghost of the once-promising cannabis industry upon legalization, which is now in the doldrums indefinitely because lawmakers just can’t control themselves in their tax greediness. Taxes and regulations have made it virtually impossible for the legal cannabis industry to compete with black market operators. For sportsbook and gaming the situation is different obviously, since black market bookies can’t thrive like black market cannabis operators. But taxes and regulations can certainly kill a nascent sportsbook industry by making it unprofitable to operate.
Hill has gotten clobbered in the United Kingdom for nearly 7 years now on the back of a spectacular and retrospectively overbought rally out of the financial crisis, followed by relentless regulatory attacks from the U.K. political class. If a small-government, libertarian-leaning Boris Johnson/Dominic Cummings administration can’t stop the regulatory tide against the U.K. gaming industry, then a best case scenario reelected Trump Administration won’t stop it in the U.S., either. Certainly, a Sanders or Buttigieg Administration will not be nice to a nascent budding betting sector in the “Land of the Free”. Washington is starving for revenue and scapegoats, as are all state governments of the biggest betting markets that are going to be established across the Atlantic over time.
That does not mean that U.S. deals are irrelevant. They are important, essential, and bullish, but more for slow-burn reasons that will only pay off over the long term. Brand recognition and customer acquisition now will go a long way for when the U.S. market is truly ready to grow. That may not be for another 5-10 years or even longer, depending on the timing of the next bust, which will be blamed on irresponsible gambling firms invading U.S. shores and corrupting American culture, among other villains such as “capitalism” and “greed” generally.
Enforceable, Anneadu d'Or Top Risen Star Divisions
The decision by Fair Grounds Race Course & Slots to spilt this year’s renewal of the Feb.15 $400,000 Risen Star Stakes will double the chances for connections of rising 3-year-olds hoping to earn coveted Derby points.
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CBS Sports and William Hill Announce Official Partnership
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CBS Sports and William Hill, America’s leading sports book operator, today announced a strategic partnership that makes William Hill the Official Sports Book and Wagering Data Provider across all CBS Sports platforms. The deal will reimagine fan engagement through a unique integration of sports betting, media, product and technology. The partnership will tip off with initial integrations in March on CBS Sports digital platforms, with a full rollout planned for the fantasy football season.
The partnership extends CBS Sports’ digital leadership in the sports betting space and allows for the creation of even more relevant content across its wide array of platforms. CBS Sports will utilize William Hill’s odds, experts and more than 140 sports books to bolster its current digital offerings, delivering deeper information and programming produced from William Hill sports books across the country, and further engaging sports bettors and fans. In addition, the partnership includes opportunities to feature William Hill data, odds and markets across CBS television programming.
William Hill will receive exclusive rights to promote its brand across CBS Sports’ broad range of digital properties, including through CBS Sports Fantasy, one of the largest fantasy platforms in the world, resulting in highly efficient customer acquisition for the sports betting company.
“We’re thrilled to launch this momentous partnership, which will allow us to deepen our investment and further extend our leadership in delivering multi-platform sports wagering content, while providing William Hill with unprecedented reach for their market-leading betting platform as they continue to grow their industry-leading U.S. business,” said Jeffrey Gerttula, Executive Vice President and General Manager, CBS Sports Digital. “The power of our distribution, combined with the strength of our brands and the expertise of William Hill, has us well positioned to tap into the explosive growth of the legal sports betting industry in the U.S. Together, we will deliver even more value to this rapidly growing segment of sports fans.”
“CBS Sports, similar to William Hill, has a longstanding history of connecting fans directly to the biggest events and most iconic moments in sports,” said Joe Asher, CEO of William Hill US. “We are excited about this partnership, with assets including mass-reach digital content products, one of the largest fantasy sports databases and platforms in the world, and leading sports television programming, which will allow us to expand the William Hill brand across America quickly and efficiently.”
CBS Sports Digital is the second-largest sports property in the U.S. with more than 80 million users per month across its sites and apps as well as tens of millions of followers on social platforms. CBS Sports Digital offerings include SportsLine, the dedicated subscription platform for game picks and predictions that has seen strong subscriber growth in recent years; CBSSports.com; 24/7 streaming network CBS Sports HQ, which features the nightly SportsLine show focused on sports betting and delivered triple-digit viewership growth in 2019; CBS Sports Fantasy; CBS Sports apps; and 247Sports.
Powered by a heritage that dates back to 1934, William Hill established its U.S. presence in Las Vegas in 2012 and has grown to become America’s leading sports book operator by differentiating itself from the industry as an innovative pioneer in sports betting. Following the U.S. Supreme Court’s decision that overturned PASPA in 2018, William Hill has led the United States expansion of sports betting and now has operations in 10 states. The company currently accepts one out of every four sports bets placed in the U.S.
Financial terms of the deal are not being disclosed.
John Levy talks about theScore’s path from TV network to operator
TheScore stands out as a unique story in the gambling space. As so many operators start to compete in the U.S. space, theScore comes from a media background, but with plenty of name recognition. To understand the company’s path, our Becky Liggero Fontana spoke with John Levy, CEO of theScore.
[youtube https://www.youtube.com/watch?v=XLCwiuIYCsI?feature=oembed&w=500&h=281]
TheScore came to the gambling industry gradually, and from learning its own lessons in its previous expertise. “Our origins were a TV network in Canada and then through that we developed this digital world of the mobile app and we’re like the second most popular app in North America, ESPN is number one, were number two,” Levy began. “And we’ve always known that a high percentage of all the people who engage with us bet on sports. So it seemed unfulfilling for us just to become the super affiliate we looked at the market we said look the best thing to do is just go all-in. And we said, are we licensable? Absolutely because we kept ourselves perfectly clean for the last twenty years, hoping and praying that sports betting was gonna open up. Had to cut some deal, so we got a deal with Bet.Works, that allowed us to do the backend technology. Then we met Dennis Drazen from Monmouth Park, and that got us our license in New Jersey. And boom, five weeks ago we launched in New Jersey, we’re literally the only sports media company that’s actually the operator. We’re the bookie, and we’re having a lot of fun, and we’re learning like crazy. It’s amazing.”
While theScore is building up its gambling cred in New Jersey, they already have plans to expand further, starting with a deal with Penn National.”We’ve always said the New Jersey was just our entrance point, right?” he asked. “And our users, 65% of all of our users on our app come from the States. You know, we have 4 to 5 million average monthly users, they hit our app 100 plus times a month. This is always about doing a national footprint, but we have to do it on a state-by-state basis which is fine with us. So our options were one of two things: either we go state by state, or we find a bigger company, a gaming company, that actually kind of thought like us, and thinks like us, and they’re not many of them around. Like there’s a lot of the big guys, the MGM’s. They’re kind of stuck in legacy land and they got a lot of other interests to protect, huge revenue streams.”
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Donaco hands out board promotions after house-cleaning
Donaco International Ltd has spent the past couple of months shuffling around its board of directors and top brass. The Australia-listed casino company saw General Counsel Ben Reichel announce that he would step away from the board room at the beginning of December, just days before David Green and Yugo Kinoshita also departed. Next to go was CEO Paul Arbuckle, right on the heels of these previous exits. Donaco is now in the rebuilding phase, first bringing onboard new non-executive board members Mel Ashton and Simon Vertullo, and, now promoting two members of the board to executive members.
Leo Chan and Kurkye Wong are part of Argyle Street Management Ltd (ASM), which purchased a 19.25% stake in Donaco in July of last year through its subsidiary, On Nut Road Ltd. Both Chan and Wong were added to the board, in non-executive roles, just after that purchase was consummated and despite Donaco’s initial determination that the amount of the stake was only good for one spot on the board.
The appointments come with some nice perks. According to a filing (in pdf) with the Australian Securities Exchange (ASX), Donaco indicates that the two will be involved in “legal, operational and financial matters,” and adds, “Each of Mr Chan and Mr Wong has signed an employment contract, and will be paid a salary of AUD200,000 [US$134,200], which incorporates their existing fees in their current roles as Directors. The Contracts can be terminated either by the Executive Director or the Company on six months’ notice, except in the case of serious misconduct. The Executive Directors will be based in Hong Kong, and the contracts are governed by Hong Kong law.”
The two newly appointed Donaco executives are on the board of ASM, as well. Chan is an executive director at the company and comes with a solid background extending back over 13 years in the Asian investment market. Wong is ASM’s VP and also has a strong background in investing in finance.
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Connecticut lawmakers ready to tackle sports gambling this week
Sports gambling is still one of the hottest topics among state legislations, with the odds of more adoption being seen in the US before the end of this year. In Connecticut, lawmakers have the ability to choose between two different bills, both of which would allow state tribes, and possibly others, to offer physical, as well as virtual, sportsbooks. If legislators can reach an agreement, the state is looking at an industry that could, according to some estimates, bring in as much as $20 million in annual revenue each year. The fate of the bills now rests with Connecticut’s Joint Committee on Public Safety and Security (JCPSS).
One bill has been presented by the committee’s chair, Joe Verrengia. It would allow retail and mobile wagers at the state’s two tribal casinos, as well as off-track betting facilities and venues that offer state lottery sales, and licenses would initially cost $100,000 with another $750,000 due each five years as a renewal fee. However, commercial casinos, such as MGM, would be kept out of the activity. Based on its past, MGM would certainly be ready to fight the bill if it were to gain enough support.
The bill is designed to focus solely on sports gambling, while leaving the subject of casino expansion out. Verrengia is quoted by the Hartford Courant as stating, “[The bill is] narrow in scope. It doesn’t include all of these other things that tend to become complicated. When we’re talking about iGaming and casinos, that just brings up so many other question, and I don’t think we’ll be able to accomplish that in a short session.”
The chair of the Mashantucket Pequot Tribe, Rodney Butler, indicates that the tribe is amenable to sports gambling opportunities. However, it all comes down to what provisions are included in the bill. He explains, “We’d be happy to entertain sports betting legislation that recognizes our exclusivity provisions and long-time partnership with the state. However, the devil is always in the detail and that’s where the path forward has become encumbered in the past.”
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Irish pub owner fined over illegal gambling, if he can be found
The owner of a genuine Irish pub – not the kind you find on popular tourist beaches, but a real, old-fashioned Irish watering hole – is in hot water with authorities. He reportedly has been living off of more than just selling ale and bitters, dipping into the world of sports gambling to earn a little extra income. Unfortunately, he never bothered to go through the proper legal channels to start his additional enterprise, and regulators now want him to pay for breaking the law. In order to do that, though, they will have to find him first.
According to the Irish News, Herbert William Currie is the owner of Victoria Bar in Armagh, Ireland, about 32 miles from Belfast. He is apparently a sports gambling entrepreneur, as well, and routinely allowed illegal gambling at his bar. As far as everyone can tell, he has been allowing the practice since March 2014 and has now been convicted on 24 charges of “carrying on a business or acting as a bookmaker” without a license.
As a result, Currie will have to hand over £2,400 (just over $3,000) in the form of a fine for his illegal activity. He has also been ordered to pay £24,000 ($30,900) in compensation to a local bookmaking company, Toal’s, which brought the case against him.
The breakdown of the fine includes £100 for each count of illegal bookmaking, and £2,000 for each of 12 counts payable to Toal’s. The legal bookmaker became involved because the illegal operation of the sportsbook was never properly addressed by authorities, according to the company’s managing director, Gary Toal. He explains, “It’s very simple – bookmakers aren’t allowed to sell alcohol and publicans aren’t allowed to facilities bookmaking on their premises and cannot act as a betting intermediary. This has been a problem for many years, and we will continue to challenge pubs and publicans so long as the illegal practice persists. The next round of pubs license renewals comes around in 2022, and even at this stage we have our eye on at least 10 premises where we believe illegal gambling is rife, and we’ll be attempting to block them from trading.”
John Levy talks about theScore’s path from TV network to operator
TheScore stands out as a unique story in the gambling space. As so many operators start to compete in the U.S. space, theScore comes from a media background, but with plenty of name recognition. To understand the company’s path, our Becky Liggero Fontana spoke with John Levy, CEO of theScore.
[youtube https://www.youtube.com/watch?v=XLCwiuIYCsI?feature=oembed&w=500&h=281]
TheScore came to the gambling industry gradually, and from learning its own lessons in its previous expertise. “Our origins were a TV network in Canada and then through that we developed this digital world of the mobile app and we’re like the second most popular app in North America, ESPN is number one, were number two,” Levy began. “And we’ve always known that a high percentage of all the people who engage with us bet on sports. So it seemed unfulfilling for us just to become the super affiliate we looked at the market we said look the best thing to do is just go all-in. And we said, are we licensable? Absolutely because we kept ourselves perfectly clean for the last twenty years, hoping and praying that sports betting was gonna open up. Had to cut some deal, so we got a deal with Bet.Works, that allowed us to do the backend technology. Then we met Dennis Drazen from Monmouth Park, and that got us our license in New Jersey. And boom, five weeks ago we launched in New Jersey, we’re literally the only sports media company that’s actually the operator. We’re the bookie, and we’re having a lot of fun, and we’re learning like crazy. It’s amazing.”
While theScore is building up its gambling cred in New Jersey, they already have plans to expand further, starting with a deal with Penn National.”We’ve always said the New Jersey was just our entrance point, right?” he asked. “And our users, 65% of all of our users on our app come from the States. You know, we have 4 to 5 million average monthly users, they hit our app 100 plus times a month. This is always about doing a national footprint, but we have to do it on a state-by-state basis which is fine with us. So our options were one of two things: either we go state by state, or we find a bigger company, a gaming company, that actually kind of thought like us, and thinks like us, and they’re not many of them around. Like there’s a lot of the big guys, the MGM’s. They’re kind of stuck in legacy land and they got a lot of other interests to protect, huge revenue streams.”
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Kalamba Games captivates players with new slot Crystal Cavern
Malta, 11th February 2020 – Head to a gem-filled cave in search for big wins in Kalamba Games’ latest slot title Crystal Cavern.
Crystal Cavern offers players an immersive and hypnotic vibe as they collect sparkling crystals, colourful mushrooms and orbs to claim big rewards.
The 6×4 slot comes with Kalamba’s signature feature HyperBet as well as Free Spins Multipliers and Cash Orbs to maximise win potential.
Collecting six or more Cash Orbs every 10 spins unlocks the free spins round, where lucky players can claim even more free spins and are offered the chance for wins to be multiplied.
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ORYX Gaming steps up gamification with new Player Engagement Platform
Malta 11th February, 2020 – ORYX Gaming, a Bragg Gaming Group company (TSXV: BRAG, OTC:BRGGF), has unveiled its new Player Engagement Platform (PAM) which takes gamification to a new level.
ORYX Player Engagement Platform consolidates a number of functionalities that work together to increase player engagement and customer lifetime value.
It includes a set of targeted promotions, such as free spins, bonuses, jackpots, leaderboards and tournaments; a multi-channel communication platform which supports traditional campaign channels such as SMS, email and social media; and a real-time campaign management system which takes the platform to the next level by allowing operators to engage players onsite in real-time.
With the real-time campaign system, operators can automatically trigger a reaction to players’ online activity and offer tailored promotions based on their actions, ensuring maximum player engagement and experience.
Judge orders Oklahoma governor, tribes to hash out their differences
If Oklahoma Governor Kevin Stitt thought a federal court judge might simply step in and make a decision on the dispute he has with state tribes over gambling compacts, he has learned that it won’t be so simple. Governor Stitt, after not getting anywhere talking directly with the tribes, asked for federal court intervention to help resolve the issues, but the response came swiftly and succinctly. The two sides will have to figure out how to settle their differences on their own at a negotiating table.
The fight centers on Governor Stitt’s belief that the Cherokee, Chickasaw and Choctaw Nations have been given too much leeway, and too large a piece of the gambling pie, with the compacts. He wants to see the tribes pay as much as 25% to the state as part of a revenue-sharing plan, instead of the 4-10% they give up now, but he can’t arbitrarily make any changes to the standing agreements. In effect, he determined that the compacts expired at the beginning of the year, and wanted the courts to hold the tribes accountable for now offering illegal gambling activity.
The request landed on the desk of Chief Judge Timothy DeGiusti of the U.S. Western District. He took a look at the information, as well as a lawsuit the tribes submitted against Governor Stitt and the state, and determined that it would not be prudent for the courts to get involved – yet. He explained in his four-page ruling, “Upon review of the case record, and having conducted a pretrial conference with counsel for all parties … the Court finds that negotiations within the framework of an early mediation proceeding provide a means for efficient initial case management in this matter.”
The tribes and Governor Stitt have yet to be able to agree on much of anything, which makes the next step a little disconcerting. Both sides have to submit three mediators they want to see involved to Judge DeGiusti, who will make the final decision. Given the strain and friction between Governor Stitt and the tribes, it wouldn’t be surprising to find either side arguing against the appointment of whichever mediator is selected.
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Wanabet.es ‘joins the Big League’ and migrates to SBTech’s revenue-driving Sportsbook
New dawn for R. Franco brand as it replaces its sportsbook provider for SBTech to fulfil true revenue potential
11th February 2020 – SBTech, the leading technology supplier to the regulated iGaming sector, has boosted its presence further in Europe by securing a long-term sportsbook deal that will propel R. Franco’s Wanabet.es brand into the ‘Big League’ through its migration to SBTech’s best-in-class revenue-driving quality sportsbook.
Marking further success for SBTech in the sales process, this high quality, visionary operator has migrated from its existing provider to SBTech’s market-ready sportsbook, known for its flexibility and extensive coverage. The deal marks the second time a Spanish facing brand has migrated from its current provider.
The move allows Wanabet.es to deliver the ultimate personalised online sports betting experience and truly fulfil its market potential in Spain. Using SBTech’s powerful, multi-award-winning sportsbook, Wanabet will have greater control of risk management driving its sports that will maximise the brand’s revenue potential and take it to new heights not previously experienced with its former provider.