Monthly Archives: August 2015

Gala Coral profit up despite new gaming taxes as online earnings shine

UK gambling operator Gala Coral Group posted increased profits in its fiscal Q3 despite the impact of new gaming taxes.

Revenue was up nearly 6% to £305m in the 12 weeks ending July 4, while Group earnings rose 8% to £65.7m. The charge was led by the Group’s digital operations, which reported revenue up 37% to £63.6m, bolstering the company’s claims to have the “fastest growing” online business among its UK-listed peers.

Online earnings rose nearly 28% to £17.1m despite the impact of the UK’s new 15% online point of consumption tax (POCT), which cost the company £6.2m in the quarter. Adjusting the previous year’s Q3 to account for the POCT impact and the 2014 FIFA World Cup boost, online earnings would have risen 202% year-on-year.

The Group’s online operations are divided into three divisions: Coral Interactive, the Gala family websites and the Italian-facing Eurobet site. Coral reported online stakes up 63% and revenue up 69% to £33.2m despite a 1% decline in active customers, as spend per head rose 54%.

Mayor lauds economic spinoff from new $40-million casino in B.C.'s Interior

The mayor of a city in British Columbia’s Interior says hundreds of jobs were created as a result of the construction of a new casino. Cascades Casino Kamloops opened the doors to its new $40 million, 5,800-square-metre entertainment centre on Wednesday night in the same city that’s home to the B.C. Lottery Corporation’s head office.

Melco Crown dealers file complaints for unfair treatment

More than 1000 dealers working at Melco Crown Entertainment have submitted complaints of being “unfairly treated” by the company.

Gaming labor union Forefront of Macau Gaming (FMG) has assisted 1150 dealers from Melco Crown’s City of Dreams and Altira Macau in filing a petition to the company’s human resources department on Wednesday.

The high-duty dealers, a position between dealer and supervisor or sometimes called intern supervisor, claimed that although they have assumed the tasks of supervisors, they’re still being paid the regular dealer rate.

“Workers have complained to us that they have been assigned the tasks of supervisors. However, their salary is basically the same as normal dealers despite [the fact that] they may receive some MOP90 on the day they are assigned for supervisors’ tasks. But basically, the benefits they receive are the same as dealers, too,” New Macau Gaming Workers Rights director Cloee Chao told Business Daily.

The Wealdstone Raider Launches New Football Tipster Channel

Want some football tips? Well, the Wealdstone Raider will now give you some!  Wealdstone FC football fan and Internet celebrity Gordon Hill, a.k.a. “The Wealdstone Raider”, has teamed up with Freebets.co.uk, 888 Sport and Coral Sports to set himself up as a football tipster for the new Premier League season.

For those who have been living under a rock and are still unaware of him, Gordon became a YouTube sensation after a video of him having a rant at a non-league football match went viral.  “You’ve got no fans!”, he shouted, amongst other choice phrases, and then proceeded to turn on the guy filming him enquiring “You want some? I’ll give it ya!”.  These were soon to become his very own catchphrases as the hit video propelled him into the limelight.

That 33-second clip has now been viewed over 9 million times and has somehow made Gordon very famous. Indeed, it became a life changing event for him.  Standing at just 5 foot 2 inches tall, this wee bespectacled man with an unmistakable speech delivery has extraordinarily unique appeal.

A builder by trade, the 48-year-old’s life has been turned upside down and he now finds himself doing regular guest spots on TV and radio and making public appearances at nightclubs and events. Gordon now has over 100,000 Twitter followers and was also rated as the top Internet meme of December 2014 by BBC News.

Weak yuan ‘manageable’ risk for Macau casino operators

China’s yuan devaluation against the U.S. dollar remains to be a short-term problem for operators in Macau, unless of course, there’s an economic collapse.

Dan Wasiolek, senior equity analyst for investment research firm Morningstar Inc., said Nevada-based Wynn Resorts Ltd, Las Vegas Sands Corp. and MGM Resorts International were forecast to receive 62 percent, 55 percent and 27 percent, respectively, of their earnings for 2015 before interest, taxation, depreciation and amortization in Macau.

“Currency may present a near-term sentiment overhang in the shares, but barring an economic collapse, we see the yuan devaluation as manageable for the Macau operators,” Wasiolek wrote in the Morningstar website on Monday.

Wasiolek explained that U.S. operators are not affected—for now, at least—with the weak yuan since sales and expenses in Macau are denominated in pataca (MOP), which is pegged to the Hong Kong dollar.

DraftKings’ UK plans don’t include sportsbook, FanDuel acquires numberFire analytics

DraftKings is launching its London office, but don’t expect the daily fantasy sports operator to open a sportsbook anytime soon.

“We know what we do, and that’s daily fantasy,” DraftKings CEO Jason Robins told Bloomberg Business.

DrafKings recently received a gambling license to operate in the UK. The new London office—manned by around 20 staff members—will open by the end of this year.

Former PartyPoker boss Jeffrey Haas has been tapped to manage the UK operations as DraftKing’s new chief international officer. Haas left Bwin.party digital entertainment in July, leaving hints of a “new adventure.”

August edition of Mondays Dark benefits Three Square Food Bank

The August edition of the monthly entertainment filled fundraising event, Mondays Dark With Mark Shunock took place at Vinyl inside the Hard Rock Hotel & Casino on Monday night, August 18. All proceeds from ticket sales and auction items benefited Three Square food bank whose goal is to take every dollar donated to feed the hungry in Southern Nevada. For the first time since its inception, all advance tickets were sold out for the show and for the first time ever, a movie soundtrack was the theme.