Monthly Archives: August 2015

New Jersey Online Poker Revenue Up but Fortunes Still Down

Online poker in New Jersey enjoyed another upswing in July according to the official report released by the state’s Division of Gaming Enforcement. Despite the summer months traditionally being a slow time for the online poker industry, the Garden State’s trio of platforms appeared to have bloomed in the sunshine. NJ Rebounds in July Following […]

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Tabcorp credits digital division for boosting 2015 annual profit

Australian betting operator Tabcorp says its online business was key to the company meeting analysts’ forecasts for its fiscal 2015 performance.

Group revenue in the 12 months ending June 30 was up 5.7% to A$2.15b, while net profit after tax rose 157.4% to $334.5m. However, $163.2m of this profit came via a favorable income tax benefit, without which profit would have risen a more realistic but still impressive 14.7% to $171.3m.

Tabcorp’s mainstay wagering & media revenue was up 7% to $1.86b, with Fixed Odds & Digital being yet again the division’s strongest growth engine. Digital betting turnover was up 17.8% to $3.4b while retail betting was basically flat at $6.6b. Revenue at Tabcorp’s Northern Terrirtory-licensed Luxbet site rose 10.9% to $53.1m and and 63% of online wagers were made via mobile devices. Luxbet also received a UK operating license during the year.

TAB Racing revenue rose 5% to $1.67b, with tote revenue down 2% to $1.24b and fixed-odds up one-third to $430m. TAB Sports revenue rose 16.2% to $219m. The Trackside virtual racing operation reported revenue up 12% to $100m.

Betfair, Southampton betting partnership; FONBET title sponsor of Russian league

Online betting exchange Betfair has signed on as the official betting partner of English Premier League club Southampton FC.

Betfair managed to usurp UK rivals William Hill, who acted as Southampton’s betting partner during the previous EPL season. In addition to the Saints, Betfair’s EPL tie-ups also include Arsenal, Aston Villa, Leicester City and Sunderland, suggesting that the company didn’t blow its entire wad on CEO Breon Corcoran’s recent £10m bonus.

Southampton CEO Gareth Rogers said the new partnership would offer team fans “great flexibility and odds to match their needs.” Betfair’s media, PR and sponsorship overlord Stephen Mault said Saints fans could expect loads of exclusive offers and promotions and his firm looked forward to “playing our part in the club’s remarkable success story this season.”

FONBET INKS TITLE SPONSORSHIP OF RUSSIAN FOOTBALL’S SECOND DIVISION

Travel agents to scoop a 2m off McGregor fight

Irish travel agents could earn as much as 2m to send fight fans to Las Vegas for Conor McGregor’s battle with Jose Aldo on December 12. The figure is based on the price of package deals combined with the number of Irish people who travelled to the last fight. Over 2,400 fans made the trip from Ireland to Las Vegas for McGregor’s bout last month.

Asian high rollers boost SkyCity annual revenue

Casino operator SkyCity Entertainment Group reported revenue of NZD1 billion ($656.6m) for its fiscal year, up 8.7% from NZD902 million ($591.9m) the previous year, thanks to more Asian VIP customers visiting New Zealand.

SkyCity’s international VIP business delivered a 42% increase in turnover to $9.3b in the year ending June 30. Normalized earnings before interest, tax, depreciation and amortization (EBITDA) were up 35.1% to NZD26.4 million ($17.3m) while normalized revenue jumped 42.6% to NZD125.6 million ($82.3m).

Net profit rose 31% to NZD128.7 million ($84.6m), significantly exceeding last year’s NZD98.5 million ($64.6m).

“Growth in International Business turnover continues to be underpinned by the success of the expanded sales and marketing team, increased recognition of the ‘Horizon’ brand and offering, a strong focus on direct relationships with VIP customers and continued growth in the number of Asian VIP customers visiting New Zealand,” said SkyCity.

Amaya acquires daily fantasy sports operator Victiv, rebrands as StarsDraft

Canada’s Amaya Gaming has acquired daily fantasy sports (DFS) operator Victiv.

The Austin, Texas-based Victiv, which launched one year ago, has been among the operators vying for the title of third-largest DFS site behind DraftKings and FanDuel. The operation will be rebranded as StarsDraft – a Russian site launched under this brand in 2013 – and reborn at the StarsDraft.com domain in select US markets, with a full launch later through Amaya’s PokerStars’ platform.

The team currently managing Victiv will continue to hold the fort, including CEO Matthew Primeaux, who said the plan was to “capitalize on what we believe is strong crossover between online poker players” and DFS. Primeaux formerly served as an exec with online poker affiliate PokerStrategy.

Terms of the deal weren’t disclosed, but Amaya CEO David Baazov said the cost was “immaterial.” The rebrand will occur before the NFL season kicks off and Baazov said the launch would allows Stars to “re-engage” with its US customer database, which hasn’t been updated since Stars left the US market following the April 15, 2011 ‘Black Friday’ indictments. This marks the first entry of a pure real-money online gambling firm into the US DFS market, which could influence how legislators and regulators view the sector. Watch this space…

Investment Analysts' Upgrades for August, 12th (AACAY, ABX, AGI,…

According to Zacks, “AAC Technologies Holdings Inc. is a micro component solutions provider for communications and consumer electronics market. The Company is engaged in designing and manufacturing a diverse range of components including acoustics, antennas, optics, haptics and Li-ion polymer batteries for mobile devices.

AGTech first half revenue increases 45.7%

China lottery games, hardware and systems supplier AGTech Holdings Limited has enjoyed a 45.7% gain year-on-year over the first half of the year.

In a filing on Tuesday, AGTech posted a revenue of HK$101.1 million ($13m) in H1 2015 ending June 30th due to the sales of new hardware and technical services, from HK$69.4 million ($8.9m) in H1 2014.

“Most of the revenue was derived from gaming technologies (game software, systems, hardware and terminals) business and provision of sports lottery management and marketing consultancy services in the PRC,” said AGTech. “The increase in revenue was attributable to the sales of newly added hardware and technical services.”

The company also narrowed its loss from HK$88.9 million ($11.4m) in the prior year period to HK$54.6 million ($7m) over the same period this year.

Tourists drive NagaCorp H1 revenue growth

International tourist arrivals to Cambodia increased by 4.6% to 2.3m visitors in the first half of 2015, with 11% increase from “gaming-centric countries” such as Vietnam, China and South Korea.

In a Wednesday filing, NagaWorld, which is located in the Cambodian capital city Phnom Penh, posted GGR growth of 42% to $255.4m. In the VIP segment, rolling chip turnover jumped 50% from a year earlier to about US$3.6b, while in the mass market, table buy-ins rose 11% year-on-year to nearly US$262m and slot machine buy-in increased 10% to US$629.3m.

Revenues from gaming tables increased by 17.4% year-on-year to US$163.4m in the six-month period and the electronic gaming doubled to approximately $92 million, compared to US$41.2 million a year earlier. The higher figure includes a negotiation fee of $40m from investors for exclusive negotiation of the placement of up to 300 Electronic Gaming Machines (EGM ) in NagaWorld.

As of June 30th, NagaWorld has 262 gaming tables and 1,600 EGM.

AI Watson prepares for kick off

Tech giant IBM is applying the expertise of Watson—its artificial intelligence—to… wait for it… fantasy football.

IBM is bringing its AI game to fantasy sports.

The tech giant has teamed up with Kickstarter newbie Edge Up Sports for a new app that the two companies claimed will take the grind out of fantasy football fans’ weekly research. The app taps IBM Watson to crowdsource data—stuff like injuries, roster changes, disciplinary actions, and benched players, among others—and offer an overlook outlook for every player on a fantasy team’s roster.

Kyle Kramer, former tight end for New Orleans Saints, helped customize the AI in sifting through the deluge of information and cut research time from hours to minutes, tech media EE Times reported.