Telecommunications giant Deutsche Telekom (DT) has shut its German-facing online betting site Tipp3.de just one year after its launch.

With great fanfare, DT announced the launch of Tipp3.de in April 2015, two months after acquiring a majority stake in sports betting operator Deutsche Sportswetten, which was one of the original 20 recipients of German sports betting licenses that have yet to be officially issued due to legal challenges.

But Tipp3.de abruptly went dark on June 9, posting a message to its home page thanking customers for their patronage while alerting them that it was no longer accepting deposits or new bets. The site says it will honor pending wagers and credit winners’ accounts accordingly, and unused free credits and bonuses will be credited to customer accounts.

On Wednesday, eGaming Review reported that DT had opted to pull the plug for “commercial reasons.” An unidentified German market observer told the site that Tipp3.de’s technology was “a horrible and outdated product” that couldn’t compete with other German-facing operators and that the project was “an expensive mistake” for DT.

Telecommunications giant Deutsche Telekom (DT) has shut its German-facing online betting site Tipp3.de just one year after its launch.

With great fanfare, DT announced the launch of Tipp3.de in April 2015, two months after acquiring a majority stake in sports betting operator Deutsche Sportswetten, which was one of the original 20 recipients of German sports betting licenses that have yet to be officially issued due to legal challenges.

But Tipp3.de abruptly went dark on June 9, posting a message to its home page thanking customers for their patronage while alerting them that it was no longer accepting deposits or new bets. The site says it will honor pending wagers and credit winners’ accounts accordingly, and unused free credits and bonuses will be credited to customer accounts.

On Wednesday, eGaming Review reported that DT had opted to pull the plug for “commercial reasons.” An unidentified German market observer told the site that Tipp3.de’s technology was “a horrible and outdated product” that couldn’t compete with other German-facing operators and that the project was “an expensive mistake” for DT.

Macau junket and casino investor Amax International Holdings has joined other casino operators that sees their profits roll down the hill after its net loss widens by 18.36 percent in fiscal 2016.

In a disclosure to the HongKong Stock Exchange, Amax reported incurring an estimated HKD49.0 million (US$6.3 million) net loss for the financial year that ended last March 31, higher than the loss of HKD41.4 million (US$ 5.34 million) for the prior-year period.

“The year under review was a year of transformation and consolidation for the Group,” Amax said in a statement. “Notwithstanding a challenging market environment, the group implemented a number of measures to consolidate its business operations with a view to minimize the operating costs and redirect its effort in other potential profitable business ventures, in order to provide returns and broaden the revenue base of the group.”

Amax, which is principally engaged in investment holdings and investments in gaming and entertainment-related businesses, has seen its revenue rise to HKD10.49 million (US$1.35 million), up from HKD5.12 million (US$659,887) compared to the same period in 2015.

Macau junket and casino investor Amax International Holdings has joined other casino operators that sees their profits roll down the hill after its net loss widens by 18.36 percent in fiscal 2016.

In a disclosure to the HongKong Stock Exchange, Amax reported incurring an estimated HKD49.0 million (US$6.3 million) net loss for the financial year that ended last March 31, higher than the loss of HKD41.4 million (US$ 5.34 million) for the prior-year period.

“The year under review was a year of transformation and consolidation for the Group,” Amax said in a statement. “Notwithstanding a challenging market environment, the group implemented a number of measures to consolidate its business operations with a view to minimize the operating costs and redirect its effort in other potential profitable business ventures, in order to provide returns and broaden the revenue base of the group.”

Amax, which is principally engaged in investment holdings and investments in gaming and entertainment-related businesses, has seen its revenue rise to HKD10.49 million (US$1.35 million), up from HKD5.12 million (US$659,887) compared to the same period in 2015.

The gambling rule book in Russia gets a little thicker as the government announces more legislation that could impact not just investors and operators but also potential players.

First, the Russian government is now mulling whether to allow gambling stakeholders to use foreign currencies to pay for services in gambling zones.

Russia’s News Gambling reported that the Russian government has ordered the Ministry of Finance, Ministry of Economic Development and Trade, and the Ministry for the development of the Far East create a bill that will allow the use of foreign currency for calculation of areas of gambling zones.

In response, Russia’s Ministry of Finance sent letters to the branch offices to provide proposals for amendments to legislation relating to the calculation of foreign exchange in special gambling zones in the shortest possible time.

The gambling rule book in Russia gets a little thicker as the government announces more legislation that could impact not just investors and operators but also potential players.

First, the Russian government is now mulling whether to allow gambling stakeholders to use foreign currencies to pay for services in gambling zones.

Russia’s News Gambling reported that the Russian government has ordered the Ministry of Finance, Ministry of Economic Development and Trade, and the Ministry for the development of the Far East create a bill that will allow the use of foreign currency for calculation of areas of gambling zones.

In response, Russia’s Ministry of Finance sent letters to the branch offices to provide proposals for amendments to legislation relating to the calculation of foreign exchange in special gambling zones in the shortest possible time.

George Danzer now ties with Max Pescatori for the most World Series of Poker bracelet victories in Europe after coming back from the jaws of defeat in the $10,000 Seven Card Stud Hi-Lo Split-8 or Better.

Justin Bonomo rises to his feet. He stuffs his left hand deep into his pocket. His right grips the hand of the man who, in a few hands time, will steal his dream. A look of abject failure breaks out beneath his flamingo pink hair. In contrast, George Danzer rises to his feet. An all too familiar smile breaks out beneath a perfectly coiffed mohawk. He shakes Bonomo’s hand. Sits down looks into the eyes of Randy Ohel. The smile vanishes.

Game on.

Why do some players always seem to win, and others always seem to lose? Why is it that those particular hands appear to fall in that particular order at that particular time? Why does the deck love some and hate others?