Monthly Archives: April 2016

PokerStars New Jersey Asserts Its Dominance with Second $100K Giveaway

PokerStars New Jersey players are being offered a second chance to win a slice of $100,000 courtesy of a new Spin & Go challenge. Following a successful $100,000 freeroll earlier this month, the operator is now giving players another way to join “romejones” in the winner’s enclosure. The first freeroll of its kind in New […]

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Malaysia cuts off power supply to suspected illegal gambling centers

Authorities in Malaysia have found a new solution to stop the mushrooming unauthorized online gambling centers in the country—cut off their power supply.

Several media outlets reported that local police have teamed up with the Sabah Electricity Sdn Bhd (SESB) to disconnect the power supply in areas in Kota Kinabalu suspected of housing illegal online gambling establishments.

So far, authorities have raided four premises in the areas of Inanam, Sadong Jaya and Sulaman Central over the past two weeks, including a family entertainment center that offered unauthorized gambling activities, The Star reported. In Sulaman Central, seven people between 32 and 69 years old were arrested, police officials said.

In addition, police seized a total of 28 tablets and four mobile phones in the latest series of raids.

CVC Capital Partners punts German sports betting operator Tipico

Private equity group CVC Capital Partners announced over the weekend that is has acquired a majority stake in German sports betting operator Tipico.

Financial details of the transaction weren’t disclosed, but Tipico’s original estimation valued the company to be worth between €1 billion (US$1.12 billion to $1.68 billion).

CVC Partners already owns a majority stake in UK sports betting company Sky Betting & Gaming, but the Tipico acquisition will be the financial investor’s first deal since it hired Goldman Sachs Group Inc.’s ex-Germany chief Alexander Dibelius last year, The Wall Street Journal reported.

Last October, Tipico owners sought the help of JP Morgan and Rothschild to look find potential buyers of the sports betting firm, such as Amaya Gaming, 888 Holdings and William Hill.

CVC Capital Partners punts German sports betting operator Tipico

Private equity group CVC Capital Partners announced over the weekend that is has acquired a majority stake in German sports betting operator Tipico.

Financial details of the transaction weren’t disclosed, but Tipico’s original estimation valued the company to be worth between €1 billion (US$1.12 billion to $1.68 billion).

CVC Partners already owns a majority stake in UK sports betting company Sky Betting & Gaming, but the Tipico acquisition will be the financial investor’s first deal since it hired Goldman Sachs Group Inc.’s ex-Germany chief Alexander Dibelius last year, The Wall Street Journal reported.

Last October, Tipico owners sought the help of JP Morgan and Rothschild to look find potential buyers of the sports betting firm, such as Amaya Gaming, 888 Holdings and William Hill.

What oversupply? Bloomberry boss unveils plans for second Manila casino

Casino magnate Enrique Razon Jr announced he will soon build his second casino in the Philippines, just days after he warned that the casino supply in the country is growing faster than customer demand.

The Bloomberry Resorts chairman and CEO told local reporters that his company will start building a “mixed-use development with a hotel and casino” on a PHP1.9 billion (US$40.5 million) property in the Quezon City area, the Philippine Star reported.

Razon said the new project, which will sit on a 1.5 hectare property in the Quezon City Central Business District, will be “similar to Solaire Resorts & Casino” in the Philippine Amusement and Gaming Corporation (Pagcor) Entertainment City in Paranaque. The new casino is located within the 45-hectare Vertis North development in the North Triangle property, about 23 kilometers away from Solaire.

Surestre Properties Inc. (SPI), the hotel and resort development arm of Bloomberry, acquired the property from the National Housing Authority (NHA) last year. According to the report, SPI’s original plan was to build “a mixed use development in accordance with the Vertis North master plan, and subject to required regulatory and local government approvals.”