Monthly Archives: March 2015

China lottery sales up 36%; Singapore lottery players pay tribute to founder

China’s lottery sales rose 24% in February, according to stats released this week by the Ministry of Finance.

Total lottery sales for the month hit RMB 24.8b (US $4b). Welfare lottery sales rose 10.7% to RMB 13b while sports lottery sales leaped 42.7% to RMB 11.8b. For January and February combined, sales are up 35.8% over the same period last year.

While the year-on-year gains are impressive, the figures for March will make for interesting reading. As of March 1, provincial lottery administration centers were ordered to suspend online sales after Beijing determined that some unscrupulous lottery agents weren’t reporting all sales. The ‘temporary’ suspension led to a precipitous drop in the share price of online-focused lottery operator 500.com.

CHINA LOTSYNERGY ENJOYS RECORD TURNOVER IN 2014

888 Holdings “never been so healthy in our lives” after record 2014 performance

UK-listed online gambling operator 888 Holdings has “never been so healthy in our lives,” according to CEO Brian Mattingley (pictured).

Mattingley said 888 was “on fire” after posting record profits in 2014. Revenue in the 12 months ending Dec. 31 rose 14% to $455m, adjusted earnings jumped one-third to $101m and profit before tax gained 28% to $68m. 888 shares rose nearly 4% on Tuesday to close at 158.5p.

B2C revenue rose 11% to $391m. Online casino revenue was up 16% to $220.6m while bingo gained 7% to $47m. 888’s poker vertical was flat year-on-year at $94m, although, given the negative state of the global online poker market, flat revenue represents something of a major victory. Active poker player ranks rose 8% in Q4.

888’s ‘emerging offerings’ rose 22% to $30m. This category includes 888’s Kambi Sports Solutions-powered sportsbook 888Sport, which reported revenue up 115% thanks in part to the 2014 FIFA World Cup. Mattingley called the sportsbook performance the “undoubted highlight” of 888’s 2014 report.

Sources: Cathy Walker dismissed as Seneca Gaming CEO

Cathy Walker , who broke the proverbial glass ceiling in the gaming industry when she was named president and CEO of Seneca Gaming Corp. five years ago, has been relieved of her duties. No word has been given about who will assume Seneca Gaming’s presidency and CEO position, either on an interim or permanent basis.

Wall Street rushes to bring down 2015 Macau estimates after a speech…

If casino raids and falling revenue weren’t enough to convince you that the Chinese government is purposely killing Macau’s gambling business, officials laid it all out on Monday. In his annual policy address , Macau’s chief executive, Fernando Chui Sai-on, said the government would be strengthening regulation on the gaming industry ahead of its review of casino license renewals.