Monthly Archives: April 2016

Friday's analyst upgrades and downgrades

Subscribe to Globe Unlimited now and get up-to-the minute insights on developing market news with Inside the Market! The company’s rise is all the more impressive because Tourmaline is a natural gas producer, and that’s a tough business to be in right now. The $793-million acquisition of MWH Global Inc. by Stantec Inc. will drive “significant” growth for the company in the coming years, said Raymond James analyst Ben Cherniavsky.

Friday's analyst upgrades and downgrades

Subscribe to Globe Unlimited now and get up-to-the minute insights on developing market news with Inside the Market! The company’s rise is all the more impressive because Tourmaline is a natural gas producer, and that’s a tough business to be in right now. The $793-million acquisition of MWH Global Inc. by Stantec Inc. will drive “significant” growth for the company in the coming years, said Raymond James analyst Ben Cherniavsky.

What Powerball winners really do with their winnings

As Kiwis around the country imagine what it would be like to win $20 million with Powerball tonight, 10 lucky players this year have already discovered how it feels to become instant millionaires thanks to Lotto. These winners are part of an exclusive club of more than 530 Kiwis who have become millionaires since Lotto began in 1987, including three New Zealanders who have won big with Powerball so far this year.

What Powerball winners really do with their winnings

As Kiwis around the country imagine what it would be like to win $20 million with Powerball tonight, 10 lucky players this year have already discovered how it feels to become instant millionaires thanks to Lotto. These winners are part of an exclusive club of more than 530 Kiwis who have become millionaires since Lotto began in 1987, including three New Zealanders who have won big with Powerball so far this year.

It could be you: UK ticketholder scoops A 51.8m Euromillions jackpot

Tuesday’s winning numbers were 09, 01, 05, 22 and 38 and the winning Lucky Star numbers are 10 and 02. A National Lottery spokeswoman said: “National Lottery players in the UK are enjoying a fantastic run of luck on EuroMillions. “We urge all players to check their tickets, to see if they have scooped the A 51.8 million jackpot, so they can begin to enjoy their life-changing win as soon as possible.”

It could be you: UK ticketholder scoops A 51.8m Euromillions jackpot

Tuesday’s winning numbers were 09, 01, 05, 22 and 38 and the winning Lucky Star numbers are 10 and 02. A National Lottery spokeswoman said: “National Lottery players in the UK are enjoying a fantastic run of luck on EuroMillions. “We urge all players to check their tickets, to see if they have scooped the A 51.8 million jackpot, so they can begin to enjoy their life-changing win as soon as possible.”

Pechanga Offers WSOP Main Event Seat, World Series of Poker Satellite Schedules Released

On Saturday May 21, Pechanga Poker Room in Temecula, California will be handing out a seat to the winner of a satellite tournament. And not just any tournament: the World Series of Poker (WSOP) Main Event. Playing in the Main Event is a dream for millions of poker players around the world. But the $10,000 […]

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Canada’s single-game sports betting bill braces for second reading in parliament

Canada’s sports betting backers are gearing up for another push to pass the country’s long-awaited single-game wagering legislation.

In February, New Democrat Party MP Brian Masse introduced C-221, aka the Safe & Regulated Sports Betting Act, which would amend Canada’s criminal code to allow provinces and territories to decide whether they wish to allow single-game sports wagers within their borders.

Masse represents the Ontario constituency of Windsor-West, and on Friday, the Windsor-Essex Regional Chamber of Commerce issued a statement saying it was convening a strategy session in Ottawa on Monday, the day before C-221 is due to have its second reading (of the necessary three) and debate in Parliament.

In addition to the Windsor-Essex Chamber and Masse, the strategy session will involve representatives of the Canadian Chamber of Commerce, the Canadian Labor Congress, the Canadian Gaming Association and other industry stakeholders, all of whom are eager to see C-221 avoid the fate of C-290, the previous sports betting bill that died of neglect in (was murdered by) Canada’s Senate last year.

Michael Mizrachi Wins WPT Seminole Hard Rock Showdown

Michael Mizrachi is a champion once again. This time, he took first place in a $570 buy-in event at Seminole Hard Rock Hotel and Casino in Hollywood, Florida on April 13. The tournament was part of the current World Poker Tour (WPT) series which culminates with a $10,000 finale on Sunday, April 17. Mizrachi outlasted […]

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Crown Resorts reportedly in talks to run ASF consortium’s Gold Coast casino

Australian casino operator Crown Resorts is reportedly negotiating a deal to operate the Chinese-backed ASF consortium’s new $2b casino in the state of Queensland.

On Friday, The Australian reported that James Packer’s Crown was holding secret talks regarding a contract to operate the ASF consortium’s planned casino on the Gold Coast Broadwater. Neither ASF nor Crown has officially commented on the report.

ASF’s Gold Coast plans received a conditional go-ahead from the Queensland state government last August but the fact that the consortium’s chief backers are two Chinese state-owned firms – China State Construction Engineering Corp and CCCC Guangzhou Dredging Corp – reportedly led the government to suggest that obtaining the necessary gaming license would be a much smoother process if a local operator was brought on board.

ASF duly sought expressions of interest from casino operators and Crown is believed to have emerged as the frontrunner, despite the consortium’s original plan to rely on experienced US casino execs to oversee the project’s gaming operations.

Crown Resorts reportedly in talks to run ASF consortium’s Gold Coast casino

Australian casino operator Crown Resorts is reportedly negotiating a deal to operate the Chinese-backed ASF consortium’s new $2b casino in the state of Queensland.

On Friday, The Australian reported that James Packer’s Crown was holding secret talks regarding a contract to operate the ASF consortium’s planned casino on the Gold Coast Broadwater. Neither ASF nor Crown has officially commented on the report.

ASF’s Gold Coast plans received a conditional go-ahead from the Queensland state government last August but the fact that the consortium’s chief backers are two Chinese state-owned firms – China State Construction Engineering Corp and CCCC Guangzhou Dredging Corp – reportedly led the government to suggest that obtaining the necessary gaming license would be a much smoother process if a local operator was brought on board.

ASF duly sought expressions of interest from casino operators and Crown is believed to have emerged as the frontrunner, despite the consortium’s original plan to rely on experienced US casino execs to oversee the project’s gaming operations.

Michigan intro’s online casino and poker bill, could allow for int’l site access

Michigan politicians have introduced new online poker and casino legislation, nearly five years to the day that federal authorities brought down the ban-hammer on US-facing online poker companies.

On Thursday, five Michigan state senators, led by Sen. Mike Kowall (pictured), introduced SB 889, aka the Lawful Internet Gaming Act. The bill seeks to “protect residents of this state who wager on games of chance and skill through the internet and to capture revenues and create jobs generated from internet gaming.”

The list of legally permitted online games has yet to be fully fleshed out, but sports betting won’t be among them in order to avoid conflicts with the federal PASPA sports betting prohibition. Online gambling would be limited to individuals 21 years of age or older.

The state plans to issue no more than eight online gambling licenses to either state-licensed private casino operators or federally recognized tribes with existing casino operations in the state. Tribes will have to waive their sovereign immunity and pay the relevant taxes and fees in order to qualify. Institutional investors who hold less than 30% of an applicant’s equity are exempt from the application consideration process.

Casino cruise ban on West Australia’s coast could end soon: report

The restrictions that outlaw casino gambling on cruise ships operating off the coast of Western Australia could be lifted soon, if the soon send, The Western Australian reported.

According to the news outlet, WA Premier Colin Barnett wants to axe the ban that prohibits cruises operating between Western Australia’s ports from opening their casinos to passengers.

Barnett, who also appointed himself as the tourism minister during the recent cabinet reshuffle, said the outdated restrictions “should be scrapped”—but not entirely—because the premier said cruise ships must still be banned from running casinos if they are in port.

“What we wouldn’t allow was a sham operation, a ship that just goes out to the back of Rottnest, puts an anchor down and has a casino running,” Barnett said.

Casino cruise ban on West Australia’s coast could end soon: report

The restrictions that outlaw casino gambling on cruise ships operating off the coast of Western Australia could be lifted soon, if the soon send, The Western Australian reported.

According to the news outlet, WA Premier Colin Barnett wants to axe the ban that prohibits cruises operating between Western Australia’s ports from opening their casinos to passengers.

Barnett, who also appointed himself as the tourism minister during the recent cabinet reshuffle, said the outdated restrictions “should be scrapped”—but not entirely—because the premier said cruise ships must still be banned from running casinos if they are in port.

“What we wouldn’t allow was a sham operation, a ship that just goes out to the back of Rottnest, puts an anchor down and has a casino running,” Barnett said.

Illegal 4D betting robs Malaysian gov’t of $768M in tax revenue

The government of Malaysia is losing an estimated RYM3 billion (US$767.6 million) in annual tax revenue to illegal 4D betting operators in the country, local media has reported.

According to The Sun Daily, the “boom” of illegal 4D operators in Malaysia is not only taking a huge chunk of profits from licensed gaming companies, but it also denies the government billions in tax revenue.

A gaming executive told the news outlet that the legal market, which makes an estimated RYM9 billion in profits, pays about RYM2 billion in taxes. The unlicensed sector, on the other hand, allegedly makes “about 1.5 times larger.”

“The government is losing about RYM3 billion in duties and taxes each year, in the same way revenue is lost through the activities of syndicates that smuggle cigarettes and liquor into the country and evade taxes,” the executive said, according to the report.

Illegal 4D betting robs Malaysian gov’t of $768M in tax revenue

The government of Malaysia is losing an estimated RYM3 billion (US$767.6 million) in annual tax revenue to illegal 4D betting operators in the country, local media has reported.

According to The Sun Daily, the “boom” of illegal 4D operators in Malaysia is not only taking a huge chunk of profits from licensed gaming companies, but it also denies the government billions in tax revenue.

A gaming executive told the news outlet that the legal market, which makes an estimated RYM9 billion in profits, pays about RYM2 billion in taxes. The unlicensed sector, on the other hand, allegedly makes “about 1.5 times larger.”

“The government is losing about RYM3 billion in duties and taxes each year, in the same way revenue is lost through the activities of syndicates that smuggle cigarettes and liquor into the country and evade taxes,” the executive said, according to the report.

Camelot Global moves North American headquarters to Chicago, eyes Illinois lottery

British gambling operator Camelot Global is shooting for a bigger business in the United States.

Camelot UK’s sister company recently moved in—quietly—into a leased spaced in Chicago’s West Loop area.  Laura Pearson, head of global corporate affairs, told CalvinAyre.com the office only has a “handful of staff” at the moment, but they plan on having a team of more than 20 people over the coming months.

“We have been looking for a new office [in] North America for a number of months. We wanted somewhere that had great transport links, a strong source of potential staff, and is a great city to live in. Chicago ticks all the boxes for us and we are looking to living and working in the city,” Pearson said in an email.

The Chicago team is headed by Duncan Malyon, Camelot Global’s senior VP of North America. Prior to joining Camelot Global, Malyon worked as a sales director for Camelot UK, where he was responsible for developing and overseeing the British lottery operator’s retail strategy and business plans. During his time at Camelot UK, Malyon oversaw Camelot UK expand its retail estate from 27,500 outlets to over 46,000.