Monthly Archives: February 2016

Rock Gaming rebrands casinos as JACK Entertainment, promises to change world

Detroit-based casino operator Rock Gaming has undergone a rebranding, which will see its four venues in Detroit and Ohio operate under the JACK Entertainment banner.

Rock says the changes affect the three casinos it acquired from Caesars Entertainment last year – Horseshoe Cincinnati, Horseshoe Celevland and Thistledown Racino – as well as its Greektown property in Detroit. The change comes with the launch of the new ClubJACK player loyalty program.

The promised branding switcheroo will officially commence on March 9 with the rechristening of JACK Thistledown Racino. The month of May will bring the arrival of JACK Cleveland Casino, followed by JACK Cincinnati Casino in June and JACK Detroit Casino-Hotel Greektown by the start of Q4 2016.

JACK chief marketing officer Darlene Monzo spared no hyperbole by claiming that the new moniker represents “the voice of adventure,” i.e. someone who “entices you to step outside of your comfort zone, forget your fears, have fun and live in the moment, for the moment.”

Playtech revenue soars as Asian grey & black market business jumps 49% in 2015

Online gambling technology firm Playtech plans “aggressive” acquisition strategy after revenue rose nearly two-fifths last year, but its founder’s criminal past and the company’s growing presence in Asian black markets could threaten those plans.

Playtech revenue soared 38% to €630m in 2015, while earnings rose 22% to €252m although net profit fell 3% to €135.8m following a rise in acquisition-related expenses and the imposition of new gaming taxes in the UK market.

Casino remained Playtech’s top vertical, with revenue rising 26% to €308.7m. Mobile revenue more than doubled from 2014 and mobile penetration improved six points to 16%.

Sports betting improved 22% to €32.2m, with most of the gains coming from UK licensees of Playtech’s Mobenga platform. However, the vertical is expected to decline in 2016 as three UK licensees have opted to switch from Mobenga to in-house sports products.

Playtech revenue soars as Asian grey & black market business jumps 49% in 2015

Online gambling technology firm Playtech plans “aggressive” acquisition strategy after revenue rose nearly two-fifths last year, but its founder’s criminal past and the company’s growing presence in Asian black markets could threaten those plans.

Playtech revenue soared 38% to €630m in 2015, while earnings rose 22% to €252m although net profit fell 3% to €135.8m following a rise in acquisition-related expenses and the imposition of new gaming taxes in the UK market.

Casino remained Playtech’s top vertical, with revenue rising 26% to €308.7m. Mobile revenue more than doubled from 2014 and mobile penetration improved six points to 16%.

Sports betting improved 22% to €32.2m, with most of the gains coming from UK licensees of Playtech’s Mobenga platform. However, the vertical is expected to decline in 2016 as three UK licensees have opted to switch from Mobenga to in-house sports products.

Las Vegas Sands Is Still Crazily Mispriced

“They ran their heads very hard against wrong ideas, and persisted in trying to fit the circumstances to the idea instead of trying to extract the idea from the circumstancesa ” Gaming shares have participated in the recent market rally across the board. Its message we believe was that the sector had been long hammered by negative news both here and in Macau and that signs of recovery were too numerous to ignore.

Las Vegas Sands Is Still Crazily Mispriced

“They ran their heads very hard against wrong ideas, and persisted in trying to fit the circumstances to the idea instead of trying to extract the idea from the circumstancesa ” Gaming shares have participated in the recent market rally across the board. Its message we believe was that the sector had been long hammered by negative news both here and in Macau and that signs of recovery were too numerous to ignore.

Galaxy Entertainment Group says it has taken the worst Macau can throw at it

Macau casino operator Galaxy Entertainment Group (GEG) says it withstood Macau’s best shot and finished 2015 on a positive note.

On Thursday, GEG turned in its Q4 earnings report, which showed revenue falling 20% to HKD 13.3b (US $1.7b) and earnings down 7% to HKD 2.5b in the three months ending Dec. 31. However, those numbers were up 8% and 18% respectively from Q3, leaving the company “cautiously optimistic” that Macau has turned a corner.

For 2015 as a whole, revenue was off 29% to HKD 51b, earnings were down 24% to HKD 8.7b and net profit fell 60% to HKD 4.2b (counting HKD 1.2b of non-recurring charges). GEG “experienced bad luck” in its gaming operations, as VIP revenue fell 43% to HKD 28.9b and mass market table revenue fell 6% to HKD 17.7b.

GEG chairman Lui Che Woo (pictured) said the “credible” results were all the more incredible given Macau’s 20-months-and-counting revenue doldrums. Lui said GEG had enjoyed “healthy” visitor numbers over the Lunar New Year period, which “potentially signal market stabilization.”

Galaxy Entertainment Group says it has taken the worst Macau can throw at it

Macau casino operator Galaxy Entertainment Group (GEG) says it withstood Macau’s best shot and finished 2015 on a positive note.

On Thursday, GEG turned in its Q4 earnings report, which showed revenue falling 20% to HKD 13.3b (US $1.7b) and earnings down 7% to HKD 2.5b in the three months ending Dec. 31. However, those numbers were up 8% and 18% respectively from Q3, leaving the company “cautiously optimistic” that Macau has turned a corner.

For 2015 as a whole, revenue was off 29% to HKD 51b, earnings were down 24% to HKD 8.7b and net profit fell 60% to HKD 4.2b (counting HKD 1.2b of non-recurring charges). GEG “experienced bad luck” in its gaming operations, as VIP revenue fell 43% to HKD 28.9b and mass market table revenue fell 6% to HKD 17.7b.

GEG chairman Lui Che Woo (pictured) said the “credible” results were all the more incredible given Macau’s 20-months-and-counting revenue doldrums. Lui said GEG had enjoyed “healthy” visitor numbers over the Lunar New Year period, which “potentially signal market stabilization.”

Space projects lured $1.8 bln in venture capital last year – report

Feb 24 Venture capital groups invested $1.8 billion in commercial space startups in 2015, more than in the last 15 years combined, a report by aerospace consultants the Tauri Group shows. The lion’s share of the 2015 space investments was a $1 billion round of financing for Space Exploration Technologies, or SpaceX, founded and overseen by technology entrepreneur Elon Musk, who also runs Tesla Motors Inc. “The year 2015 was a record-setting year for space ventures, with investment and debt financing of $2.7 billion,” according to the Tauri Group’s “Start-Up Space” report, which was released on Monday.