New Zealand’s online betting monopoly’s handling of a counterfeit money incident is undercutting its own argument that it’s the only safe option for local bettors.

On Monday, Kiwi media outlet Stuff reported on the difficulties a local racing bettor had in getting the New Zealand TAB to reimburse him for a couple hundred dollars the bookmaker paid out in counterfeit bank notes. The NZ$200 in funny money was issued by the TAB to Bruce Gasson as part of his NZ$680 winnings on January 3. 

Gasson said he contacted the TAB after getting a closer look at the two sketchy $100 bills when he got home, but the TAB told him there was “not really a whole lot they can do about it.” The TAB also said they would only consider reimbursing Gasson if it was ordered to do so by local police. 

But the police proved equally disinterested in Gasson’s bogus bills, at least, until Stuff contacted them and the TAB. The bookmaker then reached out to Gasson and assured him that he’d be made whole, while the police returned to collect the bills from Gasson for further investigation. 

UK-listed gambling operator Entain plc is losing its CEO after less than six months amidst a takeover attempt by its US joint venture partner. 

On Monday, Entain (until recently known as GVC Holdings) announced that Shay Segev had submitted notice of his intention to step down from his role as company CEO to take a co-CEO position with sports streaming platform DAZN. Segev has committed to staying on as Entain CEO for the six months required under his contract’s notice period or until his successor can be selected, the process of which is said to be “well under way.” 

Entain chair Barry Gibson expressed disappointment at Segev’s decision to exit, while noting that Entain recognized that it “cannot match the rewards that he has been promised.” DAZN began life as a subsidiary of sports media firm Perform Group and has since gone on to launch streaming services in numerous markets, including the US. 

Segev only took over as Entain CEO following last July’s abrupt departure of Kenny Alexander, who’d led the company for 13 years. Alexander’s departure came less than a week before the UK taxman announced it was widening its probe into GVC’s former Turkey-facing online gambling operations for still unexplained reasons. 

Looking to lose some weight this year? You might be considering a diet, along with some healthy exercise of course. But don’t get caught in the trap of falling for the first diet you see on social media. Consider some of these tried and tested solutions to get the right fuel in your body and achieve your goal.

The Mediterranean Diet

There’s a good reason Mediteranean countries have some of the highest life expectancy rates: it’s how they eat. The Mediterranean diet has been ranked #1 by the  U.S. News & World Report for four years running now.

The focus of eating Mediteranean is on vegetables, fruits, whole grains, beans and seeds, fish, and lots of extra virgin olive oil. There’s not much butter to it, really no refined sugar or floud, and meat is more for flavor. Say goodbye to refined sugar and flour except on rare occasions. Fats other than olive oil, such as butter, are consumed rarely, if at all.

Ohio’s casinos finished 2020 firmly in the red, year over year. While the industry appears to be on the rebound, Covid-19 meant a drop of $500 million from 2019.

The state’s four casinos and seven racinos combined for $1.44 billion in revenue for the year, down 26% from 2019’s $1.94 billion. That resulted in a drop in $175 million in taxes for the state

The drop can largely be blamed on pandemic related closured between March and June, and further restrictions on total capacity since reopening.

The four casinos in the Buckeye-state all performed decently in December. Hollywood Toledo Casino did best with $20.46 million in revenue, increasing $4 million month over month. Hollywood Columbus followed with $15.4 million, JACK Cleveland Casino was third with $13.25 million, and Hard Rock Casino Cincinnati rounds up the pack with $10.75 million. That totals for a $0.6% improvement month over month.

After finally admitting that mobile sports gambling might have a legitimate place in New York, Governor Andrew Cuomo laid out his idea of how things should be handled. However, he’s not the only one, and two lawmakers who have been pushing for the governor to see the light for years are presenting their own guidelines. Now, it will come down to who is more stubborn, and no one should discount the governor’s determination. 

Senator Joseph Addabbo and Assemblyman Gary Pretlow filed bills in their respective chambers last week to welcome mobile sportsbooks to the Empire State. Senate Bill 1183 (SB 1183) and Assembly Bill 1257 (A1257) are relatively identical, but are not exactly what Cuomo wants to see. That could prove to be a stumbling block, given the governor’s track record of standing his ground to get his own way.

The bills would alter New York’s Racing, Parimutuel Wagering and Breeding Law to give casinos the authorization to launch mobile sportsbooks. Commercial and tribal casinos would be allowed to get in on the action, while in-state sports stadiums and off-track betting facilities would only be allowed to have mobile sports gambling if they become an affiliate of one of the licensed casinos and install a casino-operated gambling kiosk. Both of the bills have already been presented to the lawmakers’ respective chambers. 

The license to operate a sportsbook would run $12 million, which would include the ability to offer two skins. With seven casinos in the state right now – four commercial in upstate New York and three tribal venues – that means there could be as many as 14 mobile sports gambling platforms. These would pay a tax of 12% on their gross revenue, compared to the 8.5% authorized for physical sportsbooks. In addition, official league data would be required if a sportsbook wanted to offer in-play options, and sports leagues would be entitled to take 0.2% of the handle in the form of the heavily-disputed “integrity fee” that has long been contentious among sports gambling operators. 

Macau’s Secretary for Economy and Finance, Lei Wai Nong, asserted last week that 2021 promises to be a much better year for the city and its casinos, with gross gaming revenue (GGR) rebounding relatively quickly. 2020 found Macau taking a massive hit from COVID-19 and things can only improve from here, but by how much and how quickly remain to be answered. Morgan Stanley doesn’t seem to share Lei’s enthusiasm, however, and has pushed down its previous estimate on what this year’s GGR for Macau will be. The financial giant’s analysts have lowered their expectations for 2021 by 10%. 

The new estimate, which equates to around $23.7 billion, would be just 65% of what Macau recorded in 2019. Praveen Choudhary, Gareth Leung and Thomas Allen believe that a lack of VIP traffic is going to hinder recovery efforts this year, explaining that VIP revenue might only be 40% of what it was two years ago. The forecast is lower than what many others predict, with an investor consensus of around 70%, and the analysts add that 2022 might not even reach the level seen in 2019. 

The analysts assert, “VIP will continue to drag overall GGR down. While macro[economic] indicators are showing upticks… junkets are leaving the field. Both Suncity and Tak Chun are taking stakes in casinos and diversifying away from pure junket business.” The macroeconomic indicators hinted at include changes being seen in the domestic Chinese agenda, including a crackdown on the promotion of overseas gambling that is expected to be put into place as of March 1. 

The good news is that Macau casino operators’ attempts to reduce expenses last year are paying off. The analysts pointed out that operating expenses, excluding VIP rebates, taxes and other certain expenses, dropped by 39% year-on-year. This new, reduced level in outlay is expected to be the new norm, according to the analysts, which will benefit operators and Macau over the long term.

If the International Betting Integrity Association (IBIA) didn’t think Australia was taking sports integrity seriously enough, the country is ready to prove it wrong. A new Sport Integrity Australia Advisory Council (SIAAC) has been formed by the government to oversee all facets of integrity in Australia’s sports scene and comes as part of the country’s updated Sports Integrity Act, revised last year.

Cheating in sports has been around as long as sports have been played – there are always those who will do anything to win, even if it means breaking the rules. The expansion of sports gambling has made the situation even worse, though, with plenty of cases of match-fixing being documented in order to skew the outcome and allow some gamblers to pick up huge paydays. However, there is a growing and concerted global effort to combat integrity issues in sports, and Australia, like many other countries, is dedicating resources to clean up the sports industry.

The SIAAC comes about as Australia put forth a solid plan to monitor the country’s sports activity for both match-fixing and athlete performances. The Sport Integrity Australia agency was launched by the government last year, bringing together the work of both the Australian Sports Anti-Doping Authority and the National Integrity of Sport Unit to provide better oversight and management of the country’s sports industry. The newly-announced SIAAC will be led by nine counsellors, each with his or her own skills and experience to help counter “money laundering and complex integrity issues,” according to Australian Sports Minister Richard Colbeck. He adds, “I am pleased to announce the nine-member advisory council. Each member brings skills and knowledge to provide advice on all areas of sports integrity. It follows the Australian Government’s recent investment of $10.1 million [$7.8 million] to introduce an independent complaints handling process within Sport Integrity Australia.”

Leading the group will be Sarah Kenny, the VP of World Sailing, who will serve as its chair. She will work alongside Paralympics Australia CEO Lynne Anderson, Golf Australia CEO James Sutherland, former athlete Margo Foster, New South Wales Police Commissioner Ken Moroney, sports consultant Scott Draper, former National Children Commissioner Megan Mitchell and public policy adviser Jason Marocchi. Kenny says of her new responsibilities, “I am looking forward to working with the other highly respected Advisory Council members to bring together our combined experience and knowledge to advise on all aspects of sport integrity and to assist in safeguarding the integrity of Australian sport. By establishing Sport Integrity Australia and the National Sports Tribunal, increasing investment into independent compliant handling and forming the Sport Integrity Australia Advisory Council, Australians can be confident everything possible is being done to keep the sport they love clean, safe and fair.”

MGM Resorts International recently admitted that it was interested in buying its BetMGM sports gambling partner Entain, but reaching an agreement on the price is going to be a difficult task. Initially, MGM was willing to cough up $10 billion to assume total control over its U.S. sports gambling operations; however, Entain believes it deserves more. According to a new press release from last Friday, the casino operator may have found some additional money, with InterActiveCorp (IAC), an MGM investor, agreeing to throw money into the pot if it will help push the deal along. 

IAC is MGM’s largest shareholder and is apparently excited about the idea of seeing MGM control all of its U.S.-based gambling activity. The firm believes the purchase of Entain would make MGM a “pure play omni-channel” leader in keeping with the transformation being witnessed in the global gaming market. It adds that a “strong balance sheet and robust annual free cash flow generation would allow the combined business to aggressively pursue its growth objectives such as U.S. online market penetration, new development in key international gaming markets, future M&A [mergers & acquisitions] and returning capital to shareholders.” 

IAC has already put $1 billion into MGM over the years, but is ready to double that amount, if necessary, if it means the company would be able to appease Entain brass and shareholders. MGM and IAC have only begun to scratch the surface about a potential deal, with no concrete details yet being approved. As it stands now, and with the additional backing of IAC, MGM will need to determine by February 1 if it will seriously move forward with an attempt to make a purchase, or if Entain’s asking price is so far out of reach that it needs to decline.

After the news broke that MGM wanted to purchase Entain, industry analysts begin deciphering the move and some viewed it as a sign that the company was considering reducing its Asian footprint. Snow Lake Capital, which has a stake in MGM’s MGM China arm, penned an open letter in which it suggested the company would be wise to bring in a partner out of China, seemingly opposing that possible outcome. For now, it doesn’t appear that MGM, or its Asian channel, are exploring changes of any kind, with MGM China saying in a statement last week, “The Board confirms that, as at the date of this announcement, the Company has no plans of restructuring. The Board will continue to communicate with the Company’s shareholders and operate the Company in the best interests of its shareholders and stakeholders, enhancing shareholder value and performance of the Company.”

When Donald Browne, working as the head of security at Imperial Palace Pacific (IPI) at the time, agreed to become the CEO of the embattled casino operator last July, he knew what he was getting into, but accepted the position, anyway. Browne was essentially forced to take the helm as regulators demanded the company appoint a leader and he knew his tenure would be short-lived. After six months, IPI is once again headless after Browne revealed that he stepped down last month with no announcement.

Browne vacated his position on December 22, according to a statement he made to the US Department of Labor (DOL). That statement came as IPI is still under fire for missing many of its court-ordered payments related to its Imperial Palace casino in Saipan and is now behind by tens of millions in dollars in license fees, employee pay and subcontractor bills. Browne explained, “My resignation was to be effective two weeks later on December 17. However, I extended my term to December 22 so that I could represent IPI at one last Commonwealth Casino Commission public hearing.”

Once again, IPI is apparently trying to operate without a CEO following Browne’s resignation, which may have been an effort to avoid being called out again and facing possible jailtime. However, he is still with the company, despite admitting that he, too, has not been paid his salary or backpay, and his continued ties to IPI could come back to haunt him. Browne deserves credit for being willing to take on a mammoth-size headache, but his allegiance could cost him in the long run.

The DOL is just one of a growing number of entities that are taking a closer look at IPI’s activity. The federal agency is reportedly calling the casino operator’s lack of ability to pay its employees a “humanitarian crisis,” which could bring a completely different set of issues to the company’s front door. IPI has also been called out for working with China-based construction companies that are being accused of using unauthorized workers, further exacerbating the situation.

Playtika, the Israel-based developer of mobile games and social casino titles, has pushed forward with it’s plan of a big Initial Public Offering (IPO). After a few months of preparation, the studio announced the impending sale of 69,500,000 shares, hoping to raise $1.67 billion.

The company is offering 21,700,000 shares of common stock, and an existing shareholder is looking to offload another 47,800,000 shares, the press release notes. Soon to be known as PLTK on the Nasdaq, shares are expected to go for anywhere between $22.00 and $24.00, with underwriters having the option to buy an additional 10,425,000 shares of common stock from the Selling Stockholder at the initial public offering price, less underwriting discounts and commissions.

At this price, Playtika would be valued at approximately $10 billion, well above the $4.4 billing a group of Chinese investors, led by Jack Ma, paid when it acquired the development studio from Caesars Interactive Entertainment in 2016.

Playtika was one of a few companies that started considering IPOs in 2020, spurred by the Covid-19 pandemic. Rather than looking for funds in a time of trouble, it was just the opposite story for the digital firm, hoping to cash in when things couldn’t be better. And an IPO that values the company at twice it’s 2016 sale price isn’t anything to sneeze at.