A whistleblower complaint filed by California Lottery employees argues that the agency’s giveaway of $212,500 in scratch-off tickets on a television talk show should be investigated as a misuse of funds.Legal, Financials, California, Scratch Games, Promotion, Marketing, Investigation, Government, Television, Ethics
Robert Gorodetsky appeared in a Chicago federal courtroom on February 5, where he pleaded guilty to fraud charges. This after it was discovered that the celebrity sports gambler had defrauded someone out of $9.6 million, according to court records.
Gorodetsky was a flashy member of the gambling community, especially in Las Vegas. He was well known as a high-roller, who was even profiled in USA Today. However, just a month after the article was published, the world came crashing down on Gorodetsky.
The gambler once touted himself as the next big thing in sports gambling. With expensive jewelry, luxury cars, and a stenciled hat with the word “GAMBLR,” he had developed quite a reputation. However, prosecutors claimed that while he was making a name for himself, he was also involved in a massive fraud scheme against a single individual who invested millions of dollars in Gorodetsky, believing that the funds he was providing were being invested and earning a large return.
Instead, the high-stakes gambler was using the money to fund his own Las Vegas operation. He was often placing reckless bets on sporting events and using the other money to live an incredibly lavish lifestyle. Both of which we celebrated through his social media accounts.
Robert Gorodetsky appeared in a Chicago federal courtroom on February 5, where he pleaded guilty to fraud charges. This after it was discovered that the celebrity sports gambler had defrauded someone out of $9.6 million, according to court records.
Gorodetsky was a flashy member of the gambling community, especially in Las Vegas. He was well known as a high-roller, who was even profiled in USA Today. However, just a month after the article was published, the world came crashing down on Gorodetsky.
The gambler once touted himself as the next big thing in sports gambling. With expensive jewelry, luxury cars, and a stenciled hat with the word “GAMBLR,” he had developed quite a reputation. However, prosecutors claimed that while he was making a name for himself, he was also involved in a massive fraud scheme against a single individual who invested millions of dollars in Gorodetsky, believing that the funds he was providing were being invested and earning a large return.
Instead, the high-stakes gambler was using the money to fund his own Las Vegas operation. He was often placing reckless bets on sporting events and using the other money to live an incredibly lavish lifestyle. Both of which we celebrated through his social media accounts.
On February 4, the Alabama State Legislature came into session for the first time this year. Discussions quickly turned to gambling, and what needs to be done to protect the state from the influence of gambling interests.
To begin the session, Sen. Jim McClendon, the Republican from Birmingham, presented a bill that would prohibit any gambling interests from giving money to state lawmakers. The bill also included banning contributions to both the Governor and Lt. Governor. This would ban all candidates to state offices from taking money from gambling interests as well.
McClendon pointed out that these gambling interests have already given lawmakers hundreds of thousands of dollars, a practice that needs to come to an end. “I am not making claims of corruption,” he explained, “but we must be very wary of the appearance of corruption. I’m not making claims of undue influence based on monetary contributions, but we must be very wary of the appearance of undue influence.”
Lawmakers are not the only ones who are concerned. Alabama Governor Kay Ivey announced on February 5t hat she will not consider meeting with Poarch Band of Creek Indians to expand gambling in the state unless she is provided with hard numbers about how much money the state would receive in tax revenue.
On February 5, a federal appeals court in Boston heard arguments over a long-standing dispute between the Mashpee Wampanoag Tribe and local residents over 321 acres of land in the Cape Cod area. The land was allocated to allow the tribe to build a $1 billion integrated resort on the property.
The dispute traces back to 2015 when then-president Barack Obama gave the land to be developed as a casino, hotel, and entertainment resort. However, residents in the area sued, arguing that the government had no standing to take this land into trust to give to the tribe, considering it wasn’t an officially recognized tribal affiliation when the trust law was passed.
The Obama administration had granted the 321 acres as sovereign land; However, according to the law, a tribe must have been officially recognized under the federal Indian Reorganization Act, which passed in 1934. This is when the land in trust process was created.
The Cape Cod tribe has been able to trace their ancestry back to the original harvest meal with the pilgrims in 1621. However, they were not officially recognized until 2007. In 2016, a federal judge ruled in favor of the local residents, citing that the tribe did not meet the standards of the 1934 law and sending it back to the Interior Department for reconsideration.
Casino operator Wynn Resorts lost nearly $73m in the final quarter of 2019 and Macau’s casino shutdown is burning $2.5m per day off the company’s books.
On Thursday, Wynn reported that its revenue in the final three months of 2019 hit $1.65b, a 2% decline from Q4 2018. The company booked a net loss of $72.9m versus a $465m profit one year ago, although the 2018 profit got an artificial $391m boost from Donald Trump’s tax cuts.
For 2019 as a whole, revenue was down a modest 1.5% to $6.6b but net income plunged 78.5% to $123m, again, reflecting the wind assist the previous year’s results got from Trump’s tax giveaway.
In Macau, the Wynn Palace casino reported Q4 revenue falling one-fifth to $590m and earnings down 21.6% to $177.6m. VIP gambling turnover slumped 42.4% and VIP revenue slid 45.5% to $286.3m. Mass market table win managed a 2.6% rise to $315.4m while slots added $53.1m.
In a study released by Paysafe, they have concluded that 5G technology will have a profound impact on the mobile sports betting market, leading to a rapid increase in wagers. This according to the online payment service that owns such brands as Skrill, Neteller, and Paysafecard.
The report focuses on the impact of 5G technology in three specific markets: The U.S., the U.K. and Germany. According to the survey, 42% of regular sports bettors report that they would increase “their in-play sports betting activity with the emergence of 5G.” In addition, the research found that 21% state that they will increase the number of sports that they bet on once 5G technology becomes more prevalent.
The report is based upon an online survey that provided questions to 2,506 adults in the U.S., 2,231 in Germany, and 2,269 in the U.K.. It found that most of those who took the survey concluded that as 5G cellular connections became more common, it would open the door to them feeling more confident about placing wagers. This was seen in the fact that 48% of those surveyed said they would be more likely to place a bet using their mobile app once their cell service provided 5G connections.
Of the nearly 8,000 people surveyed, 31% stated that they do not gamble at all due to connectivity issues related to the 4G service they receive. An additional 27% were worried about not being able to place real-time bets because of connectivity issues. Only 14% reported having no connectivity related issues when placing bets, with that number dropping to 10% in the U.S..
6th February 2020: Pragmatic Play, a leading content provider for the gaming industry, has released its latest title, Super7s.
The classic 3×5, five payline slot contains vintage fruit icons, alongside bells, Lucky 7s and a star-shaped scatter symbol.
With its simple gameplay and lucrative win potential, Super7s can reward players with up to 1000x their stake if five of the Lucky7 symbols land on the same payline.
Melissa Summerfield, Chief Commercial Officer at PragmSatic Play, said: “Super7s is an easy-to-understand game that appeals to classic slot fans across the globe.
Regional casino operator Penn National Gaming (PNG) lost nearly $93m in the final quarter of 2019, but sports betting and online gambling are riding to the rescue.
On Thursday, PNG reported that it generated revenue of $1.34b in the final three months of 2019, up 16% from the final quarter of 2018. But adjusted earnings were down 5% to $304m and the company booked a net loss of $92.9m versus a $42m net loss the year before.
PNG blamed the net loss on $34m in additional rent payments to its real estate investment trust (REIT) landlords and $173.1m in impairment charges due to accounting changes in financing obligations of PNG’s leasing arrangements. So it seems that there is actually a price to pay in selling off the family silver and/or real estate for a short-term cash boost. Who knew?
All four of PNG’s geographical casino segments reported year-on-year revenue gains, with the dominant Northeast segment posting the biggest rise, up 18% to $621.3m, thanks to the May 2019 addition of the Greektown Casino in Detroit. The South segment posted the biggest percentage gain, rising nearly 29% to $268.2m thanks to contributions from Louisiana’s Margaritaville Resort Casino.
The multi award-winning games supplier G has announced their partnership with NetEnt Connect – the new NetEnt platform bringing a range of quality content into operators across the world.
“We love what the G team produce,” said Rob Fell, Product Director at NetEnt Connect. “They have a unique creative vision and they add something different to our portfolio that we know many customers will appreciate.”
“This is a very exciting time,” added Paul Dolman-Darrall, G’s CEO. “We have some big hits under our belt and more major launches coming. With NetEnt, we look forward to expanding our distribution and learning from the best.”
G is one of the first new suppliers to integrate to NetEnt’s flagship and innovative aggregation platform which launched in December 2019 with Red Tiger’s content. They look forward to being among the pioneers as NetEnt Connect rolls out across its many partners and working with NetEnt’s bonus and gamification engine.
BetConstruct opens up new paths for operators and igaming enthusiasts willing to enter the industry and hone their skills.
The knowledge and experience collected over the years of being in business, hundreds of partners and industry recognition prompted and encouraged BetConstruct to deliver industry-facing education for those who want to boost their standing in igaming.
Our International Gaming Business Academy helps operators and their personnel reinforce their knowledge in fields of trading, digital marketing, business development, international regulatory & responsible gambling, anti-money laundering, CRM, risk management and more. Not only BetConstruct gives an opportunity to operators take an extra step in their business development, but also trains fresh minds to enter the industry and find success as an industry expert.
The International Gaming Business Academy is ready to deliver courses both on-site at the company’s development office in Armenia and via online training.
BetConstruct opens up new paths for operators and igaming enthusiasts willing to enter the industry and hone their skills.
The knowledge and experience collected over the years of being in business, hundreds of partners and industry recognition prompted and encouraged BetConstruct to deliver industry-facing education for those who want to boost their standing in igaming.
Our International Gaming Business Academy helps operators and their personnel reinforce their knowledge in fields of trading, digital marketing, business development, international regulatory & responsible gambling, anti-money laundering, CRM, risk management and more. Not only BetConstruct gives an opportunity to operators take an extra step in their business development, but also trains fresh minds to enter the industry and find success as an industry expert.
The International Gaming Business Academy is ready to deliver courses both on-site at the company’s development office in Armenia and via online training.
• BtoBet Unveils Neuron 3 Betting Platform at Ice London
Taking center stage at ICE London, BtoBet has unveiled its 3rd generation betting platform, which will deliver a player-centric betting ecosystem that perfectly adapts to today’s player demands, throughout all the stages of the player lifecycle, as they seek a wider betting experience.
Alessandro Fried, BtoBet’s Chief Executive Officer, has explained that the development of the new platform stems from an analysis of the requirements of today’s players, and the capabilities of the operators to meet these requirements in the minimal time-tomarket, and thus making the most in terms of player life-time value.
Fried stated that Neuron 3 allows operators to develop their player journey and betting experience no matter the medium or communicative platform involved. He added that to successfully achieve this result Neuron 3 had to redefine the limits of what is today’s Omnichannel approach, seamlessly interconnecting the betting experience through a wider spectrum of channels.
Specialist payment provider to integrate its technology into full retail portfolio
Athens, 06th February 2020 – OKTO Group, the financial technology provider specialising in digital payment and player engagement applications, has partnered with leading Italian gaming company ARESWAY to supply its technology across its full retail portfolio.
With over two decades of experience in the Italian gaming industry, ARESWAY develops highly advanced solutions for the retail betting industry, boasting an engaging in-house gaming suite and innovative open platform for electronic gaming machines.
The agreement is set to give a wealth of Italian operators access to OKTO’s industry-leading payment solutions for gaming through a seamless integration with ARESWAY’s EOS open platform for VLTs.
Specialist payment provider to integrate its technology into full retail portfolio
Athens, 06th February 2020 – OKTO Group, the financial technology provider specialising in digital payment and player engagement applications, has partnered with leading Italian gaming company ARESWAY to supply its technology across its full retail portfolio.
With over two decades of experience in the Italian gaming industry, ARESWAY develops highly advanced solutions for the retail betting industry, boasting an engaging in-house gaming suite and innovative open platform for electronic gaming machines.
The agreement is set to give a wealth of Italian operators access to OKTO’s industry-leading payment solutions for gaming through a seamless integration with ARESWAY’s EOS open platform for VLTs.
DreamTech Gaming’s first title with Yggdrasil set to unleash huge wins
6th February, 2020 – Yggdrasil, the innovative online gaming solutions provider, has unveiled its latest cutting-edge YG Masters title, Ice and Fire, with DreamTech Gaming.
Two elemental enemies face-off across split 5×5 screens, sharing wilds as they are locked in their eternal battle.
Wilds are mirrored across dual reel sets regardless of which side they land on, as wins create cascading features, while if players manage four or more winning cascades in a single spin, the free games feature is triggered, and they can pick an elemental dragon in their battle for glory.
DreamTech Gaming’s first title with Yggdrasil set to unleash huge wins
6th February, 2020 – Yggdrasil, the innovative online gaming solutions provider, has unveiled its latest cutting-edge YG Masters title, Ice and Fire, with DreamTech Gaming.
Two elemental enemies face-off across split 5×5 screens, sharing wilds as they are locked in their eternal battle.
Wilds are mirrored across dual reel sets regardless of which side they land on, as wins create cascading features, while if players manage four or more winning cascades in a single spin, the free games feature is triggered, and they can pick an elemental dragon in their battle for glory.
SKS365’s new CEO: “Italy can return to being that European regulatory model with the support of operators and legislators. The risk of demonizing a sector is losing credibility especially at an international level”
London, 5 february, 2020 – “What has been happening in Italy since last summer in gaming and betting market brings with it an important message, that we must transmit from Italy to the international industry: prohibiting a habit does not cancel it, keeping silent a problem does not solve it, breaking down a sector does not regulate it – said Alexander Martin, the new CEO of SKS365, at Country Briefing panel ‘Italian gambling advertising ban – Why is it a “losing game”?’ by LOGICO – “Worse is when these decisions not only do not constitute a solution, but configure another problem: disinformation and disorientation towards the customer, the difficulty of understanding what is legal and what is not. Operators, consumers, media, the State itself, all have been affected by what is known as AD BAN, which has been discussed and written so much since before it came into force. The Italian case is a warning to everyone on how two delicate and important problems such as pathological gambling and criminal infiltrations in the sector should not be addressed. It is not about money or business – continued Martin, named CEO at SKS365 last December – But about ethics and professionalism of a sector that, in recent years above all, has perfected itself to become an ally of Institutions, Authorities and Police Forces in reporting offenses and malfeasance, as well as first promoter responsible gaming as a pure form of entertainment and fun. We must work together in order to spread a culture of responsible gaming, a necessary condition first in the fight against pathological behaviour. Therefore, it is essential to have a constructive dialogue between all the actors involved in order to harmonize the legislation and comply with international standards, to balance the protection needs of order and public health with the necessary survival of the Italian gaming sector.”
About SKS365
SKS365 Group is an authorized sport betting and gaming operator, one among the leaders in the Italian betting market, where it operates under the Planetwin365 brand. The passion for sports, driven by principals of transparency and security with the goal of creating value for the Entertainment industry are all elements that SKS365 offers its clients to further develop the gaming experience and expand business opportunities for all commercial partners. Through the Planetwin365 brand, SKS365 offers a unique and diversified gaming experience both online – via the Planetwin365.it website – and offline, through a retail network of about 1000 shops all around the Italian territory.
COPENHAGEN, Denmark, Jan. 28, 2020 — The Danish Gaming Code of Conduct went into effect on July 2019, and since its implementation, has caused a significant change in the fortunes of many online wagering entities, including online casinos, slots sites and marketing agencies.
With the expressed aim of “strengthening consumer protection and ensuring gambling does not evolve from entertainment to addiction,” the new regulation covers everything from advertising rules to self-exclusion options.
And while all operators have implemented the “Reality Check” pop-up which tells players how much time and money they’ve spent, according to DOGA CEO Morten Ronde, “restrictions on the volume of advertisements” have still not become the reality.
“If we do not come up with a swift and appropriate response, politicians will take matters into their own hands – just like they have done in Italy,” he warned.
In a hearing in Lexington Feb. 6, Fayette County (Ky.) Judge Kim Bunnell denied a motion from an attorney from Ahmed Zayat’s Zayat Stables to dissolve the court’s appointment of a receiver related to a pending lawsuit.