Monthly Archives: May 2016

Seoul government turns down Jeju’s proposal for gaming tax hike

A proposal that sought to double the gross gaming revenue (GGR) tax in South Korea’s Jeju Island has been rebuffed by the national government in Seoul, Union Gaming Securities Asia said on Monday.

Authorities in Jeju were proposing a gaming policy package that would see the taxation on GGR increase from 10 percent to 20 percent, according to Union Gaming. Additionally, Jeju government also wants to implement “three-year license renewal audits” and to impose restrictions on the transferability of casinos licenses.

The brokerage did not provide any details on why the proposal was turned down.

Jeju island may be considered a self-governing province that is able to run its own casino-related development programs, but it still needs to get approval from the national government in Seoul on certain policy matters such as modifying tax rates.

Seoul government turns down Jeju’s proposal for gaming tax hike

A proposal that sought to double the gross gaming revenue (GGR) tax in South Korea’s Jeju Island has been rebuffed by the national government in Seoul, Union Gaming Securities Asia said on Monday.

Authorities in Jeju were proposing a gaming policy package that would see the taxation on GGR increase from 10 percent to 20 percent, according to Union Gaming. Additionally, Jeju government also wants to implement “three-year license renewal audits” and to impose restrictions on the transferability of casinos licenses.

The brokerage did not provide any details on why the proposal was turned down.

Jeju island may be considered a self-governing province that is able to run its own casino-related development programs, but it still needs to get approval from the national government in Seoul on certain policy matters such as modifying tax rates.

3-Barrels: No $400m For Soulja Boy; PokerTribe.com Launch; ‘World’s Collide’ at Poker Central

3-Barrels of pure value including more news on the $400m deal between The World Poker Fund Holdings and Soulja Boy; PokerTribe.com launches to the international market, and Poker Central host a hybrid poker/eSports event called ‘World’s Collide.’

Did the World Poker Fund Holdings (WPFH) agree to pay the young rap star Soulja Boy $400m in a five-year endorsement deal?

We thought the likelihood was a little out in space, and the WPFH PR firm 1-800-PublicRelations Inc. has confirmed so during an interview with Shawn Setaro.

Setaro is the host of the hip-hop podcast The Cipher, former Editor-in-Chief of the music magazine Rap Genius, and freelance musical contributor for all the top online rags.

3-Barrels: No $400m For Soulja Boy; PokerTribe.com Launch; ‘World’s Collide’ at Poker Central

3-Barrels of pure value including more news on the $400m deal between The World Poker Fund Holdings and Soulja Boy; PokerTribe.com launches to the international market, and Poker Central host a hybrid poker/eSports event called ‘World’s Collide.’

Did the World Poker Fund Holdings (WPFH) agree to pay the young rap star Soulja Boy $400m in a five-year endorsement deal?

We thought the likelihood was a little out in space, and the WPFH PR firm 1-800-PublicRelations Inc. has confirmed so during an interview with Shawn Setaro.

Setaro is the host of the hip-hop podcast The Cipher, former Editor-in-Chief of the music magazine Rap Genius, and freelance musical contributor for all the top online rags.

FanDuel eyes UK launch by August but still waiting for license approval

FanDuel already has a target date for its debut across the pond, but there’s just one problem—the daily fantasy sports operator has yet to receive its UK license.

In an interview with Gambling Insider, FanDuel’s Eilidh Morrison confirmed the company is eyeing to launch in the UK in August, but he stressed that “the date is not set in stone and still provisional.”

It appears one of the reasons why the company is hedging its bets on an August launch date was that it was still waiting for its UK license application to be approved.

FanDuel, which is reportedly planning to offer a football-only product, already has a license to operate remote gambling software but it’s not yet allowed to operate remote pool betting in UK.

FanDuel eyes UK launch by August but still waiting for license approval

FanDuel already has a target date for its debut across the pond, but there’s just one problem—the daily fantasy sports operator has yet to receive its UK license.

In an interview with Gambling Insider, FanDuel’s Eilidh Morrison confirmed the company is eyeing to launch in the UK in August, but he stressed that “the date is not set in stone and still provisional.”

It appears one of the reasons why the company is hedging its bets on an August launch date was that it was still waiting for its UK license application to be approved.

FanDuel, which is reportedly planning to offer a football-only product, already has a license to operate remote gambling software but it’s not yet allowed to operate remote pool betting in UK.

Maharashtra Makes Final Call to Seal Fate of Offshore Casinos

The fate of casinos in Maharashtra will finally be known by the end of May, ending a four decade-wait since the Maharashtra Casinos (Control and Tax) act was passed and published in July 1976.

Citing highly placed government sources, Indian daily broadsheet DNA reported that the home department met all stakeholders – including revenue, tourism and law – last week to make a final call before coming out with a decision next week.

The Maharashtra Tourism Development Corporation (MTDC), one of the major stakeholders, has supported the development of casinos in Maharashtra to give its tourism industry a major boost and at the same time for the state government to earn more revenues. It said that the Maharashtra will contribute a large portion in India’s $60 billion gambling market.

The Economic Times of India (ETI), quoting its own news sources, reported that MTDC has pushed for the state to allow offshore casinos — which could operate from a yacht off the coast — where entry would be limited to foreign tourists. Currently, Goa and Sikkim are the only states that allow casinos in India.

Maharashtra Makes Final Call to Seal Fate of Offshore Casinos

The fate of casinos in Maharashtra will finally be known by the end of May, ending a four decade-wait since the Maharashtra Casinos (Control and Tax) act was passed and published in July 1976.

Citing highly placed government sources, Indian daily broadsheet DNA reported that the home department met all stakeholders – including revenue, tourism and law – last week to make a final call before coming out with a decision next week.

The Maharashtra Tourism Development Corporation (MTDC), one of the major stakeholders, has supported the development of casinos in Maharashtra to give its tourism industry a major boost and at the same time for the state government to earn more revenues. It said that the Maharashtra will contribute a large portion in India’s $60 billion gambling market.

The Economic Times of India (ETI), quoting its own news sources, reported that MTDC has pushed for the state to allow offshore casinos — which could operate from a yacht off the coast — where entry would be limited to foreign tourists. Currently, Goa and Sikkim are the only states that allow casinos in India.

Annual Results of Storm International for the Year 2015

Storm International, a casino management company, announced operational results for the year 2015 at a recent top management meeting. During last year the greatest growth markets for Storm International’s businesses were Georgia (Shangri La Casino Tbilisi) with growth measured in local currency at 25% and Germany (Storm Casinos) which saw its growth measured at 12%. It is reported that the company’s revenues in US dollars showed a total year-on-year dip of 8%, while net profit decreased by 11.9%.

Darren Keane, CEO of Storm International made the following statement: “In 2015 our company has again strengthened its positions with revenues showing growth in almost every country. Considering the fact that our internal accounting uses the US dollar as our base, we have seen a dip in overall revenues and profits in 2015 due to the ever increasing strength in the value of the dollar against all of the local denominations where we operate. The Mexican smoking law which was brought into law in September 2015 also made a big impact on our revenues and was the single largest reason for the company drop in profitability.”

Currently Storm International is actively working in the markets of Germany, Mexico, Belarus, Armenia and Georgia. The company has several new projects at various stages of development in European and Asian markets.

Lavrenty Gubin

Annual Results of Storm International for the Year 2015

Storm International, a casino management company, announced operational results for the year 2015 at a recent top management meeting. During last year the greatest growth markets for Storm International’s businesses were Georgia (Shangri La Casino Tbilisi) with growth measured in local currency at 25% and Germany (Storm Casinos) which saw its growth measured at 12%. It is reported that the company’s revenues in US dollars showed a total year-on-year dip of 8%, while net profit decreased by 11.9%.

Darren Keane, CEO of Storm International made the following statement: “In 2015 our company has again strengthened its positions with revenues showing growth in almost every country. Considering the fact that our internal accounting uses the US dollar as our base, we have seen a dip in overall revenues and profits in 2015 due to the ever increasing strength in the value of the dollar against all of the local denominations where we operate. The Mexican smoking law which was brought into law in September 2015 also made a big impact on our revenues and was the single largest reason for the company drop in profitability.”

Currently Storm International is actively working in the markets of Germany, Mexico, Belarus, Armenia and Georgia. The company has several new projects at various stages of development in European and Asian markets.

Lavrenty Gubin

Man Utd Win the FA Cup; Too Late to Save Louis Van Gaal

Louis Van Gaal is to be replaced by Jose Mourinho in the wake of his FA Cup final victory over Crystal Palace according to sources within Sky Sports.

On Saturday, Louis Van Gaal won the FA Cup. On Sunday, he told Sky Sports reporters that, ‘it was over.’

According to a Sky Sports source, victory in the FA Cup final was never going to be sufficient to save Van Gaal’s job. That moment passed when they lost 3-2 against West Ham in Upton Park’s swansong performance; shutting United out of the Champions League.

The FA Cup would provide United with automatic passage into the group stages of the Europa League. That’s not good enough for a team of United’s history and stature.

Man Utd Win the FA Cup; Too Late to Save Louis Van Gaal

Louis Van Gaal is to be replaced by Jose Mourinho in the wake of his FA Cup final victory over Crystal Palace according to sources within Sky Sports.

On Saturday, Louis Van Gaal won the FA Cup. On Sunday, he told Sky Sports reporters that, ‘it was over.’

According to a Sky Sports source, victory in the FA Cup final was never going to be sufficient to save Van Gaal’s job. That moment passed when they lost 3-2 against West Ham in Upton Park’s swansong performance; shutting United out of the Champions League.

The FA Cup would provide United with automatic passage into the group stages of the Europa League. That’s not good enough for a team of United’s history and stature.

Vicky and Debbie Do Poker Hall of Fame in Las Vegas

Vicky Coren-Mitchell and Debbie Burkhead are to be inducted into the Women in Poker Hall of Fame (WiPHOF) in a special ceremony held at the Gold Coast Casino, Las Vegas.

There will be no donkeys. They won’t be in Dallas. Instead, Vicky Coren-Mitchell and Debbie ‘Does Poker’ Burkhead will head to Las Vegas, July 6, where they will be inducted into the Women in Poker Hall of Fame (WiPHOF).

A panel consisting of the WiPHOF Board of Director members Lupe Soto, Karina Jett, and Suzie Lederer; the existing WiPHOF members, and a select band of merry men and women from the poker media chose the pair. Burkhead is also a member of the WiPHOF Board. We’ll assume her point of view didn’t count on this one.

Burkhead has enjoyed a fruitful poker career as both a writer and a player. For a decade, she penned a column entitled “Debbie Does Poker’ for Poker Player newspaper. She has also worked for Ante Up Magazine, Poker Digest, and Pokerpages.com.

Vicky and Debbie Do Poker Hall of Fame in Las Vegas

Vicky Coren-Mitchell and Debbie Burkhead are to be inducted into the Women in Poker Hall of Fame (WiPHOF) in a special ceremony held at the Gold Coast Casino, Las Vegas.

There will be no donkeys. They won’t be in Dallas. Instead, Vicky Coren-Mitchell and Debbie ‘Does Poker’ Burkhead will head to Las Vegas, July 6, where they will be inducted into the Women in Poker Hall of Fame (WiPHOF).

A panel consisting of the WiPHOF Board of Director members Lupe Soto, Karina Jett, and Suzie Lederer; the existing WiPHOF members, and a select band of merry men and women from the poker media chose the pair. Burkhead is also a member of the WiPHOF Board. We’ll assume her point of view didn’t count on this one.

Burkhead has enjoyed a fruitful poker career as both a writer and a player. For a decade, she penned a column entitled “Debbie Does Poker’ for Poker Player newspaper. She has also worked for Ante Up Magazine, Poker Digest, and Pokerpages.com.

Has The World Poker Fund Handed Rap Star $400m to Promote Their Brand?

The World Poker Fund has issued a press release stating that rap star Soulja Boy will be paid $400m in a five-year deal to endorse the likes of CelebrityWorld.com and InSkyCasino.com, but is it real?

How much did PokerStars pay for the signatures of Rafael Nadal, Cristiano Ronaldo, and Neymar Jr?

According to Forbes, Ronaldo was the third highest paid sportsman in the world in 2015 with an estimated annual haul of $79.6m. The lion share of that bounty came in the form of his Real Madrid salary, with $27m coming from endorsement deals such as the one he has with PokerStars.

If you want your brand to belong to the world’s most famous human billboards, it’s going to cost a pretty penny.

Has The World Poker Fund Handed Rap Star $400m to Promote Their Brand?

The World Poker Fund has issued a press release stating that rap star Soulja Boy will be paid $400m in a five-year deal to endorse the likes of CelebrityWorld.com and InSkyCasino.com, but is it real?

How much did PokerStars pay for the signatures of Rafael Nadal, Cristiano Ronaldo, and Neymar Jr?

According to Forbes, Ronaldo was the third highest paid sportsman in the world in 2015 with an estimated annual haul of $79.6m. The lion share of that bounty came in the form of his Real Madrid salary, with $27m coming from endorsement deals such as the one he has with PokerStars.

If you want your brand to belong to the world’s most famous human billboards, it’s going to cost a pretty penny.