As we move along in the 2016 World Series of Poker Main Event, we’re reminded that past champs Joe Hachem and Greg Raymer are synonymous with the “poker boom” era. They followed Chris Moneymaker’s lead in 2003 by winning the Main Event in the subsequent two years (Raymer in 2004, and then Hachem in 2005). Both […]
The post Former Main Event Champs Joe Hachem and Greg Raymer Quip on the WSOP and Online Poker: Exclusive Interview appeared first on .
eSports game developer Valve Corporation says it will no longer permit third-party gambling sites to make use of its Steam marketplace.
In a notice posted to the Steam site on Wednesday, Valve’s Erik Johnson wrote that using the eSports marketplace “to run a gambling business is not allowed by our API nor our user agreements.”
Johnson said Valve, the developers behind games like CounterStrike; Global Offensive (CS:GO) would “start sending notices to these sites requesting they cease operations through Steam, and further pursue the matter as necessary.” Johnson warned players to “consider this information as they manage their in-game item inventory and trade activity.”
Johnson stressed that Valve had “no business relationship” with these third-party gambling sites and had “never received any revenue from them.” Johnson noted that Steam “does not have a system for turning in-game items into real-world currency.”
New Jersey online gambling sites reported revenue spiking over 40% in June despite a relatively poor showing by the state’s licensed poker sites.
Figures issued Wednesday by the New Jersey Division of Gaming Enforcement (DGE) showed the state’s regulated online gambling market generated overall revenue of $16.4m, 40.6% higher than the same month last year. However, the sum is $100k less than the market generated in May 2016.
The casino vertical definitely did its part, rising 46.8% year-on-year to $14.4m. Poker, on the other hand, rose a comparatively tiny 7.3% to just under $2m.
Poker’s traditional summer doldrums were in full evidence, as the vertical’s contribution was off around $600k from May 2016’s figure. Poker’s tepid performance is all the more striking given that Amaya Gaming’s PokerStars brand wasn’t operational in July 2015.
Mike Rogers of The Stronach Group was elected, while owner/breeder Fred Hertrich III and Clem Murphy of Coolmore Stud were re-elected, to the 14-member Breeders’ Cup board of directors.
Cherry Wine headlines a field of twelve 3-year-olds in the $500,000 Indiana Derby (gr. II) July 16 at Indiana Grand Race Course. Hot off the Triple Crown trail, the son of Paddy O’Prado is seeking his first graded stakes victory.
Australian online sports betting operator Sportsbet has been referred to federal authorities over its Bet Live smartphone app.
On Wednesday, The Australian reported that the Australian Communications and Media Authority (ACMA) had received a complaint regarding Sportsbet’s app. The ACMA determined that the app was in violation of the Interactive Gambling Act (IGA) 2001 and referred the matter to the Australian Federal Police (AFP).
Sportsbet, which is owned by Paddy Power Betfair, launched Bet Live in January. The app was one of many online in-play betting apps that Aussie bookmakers have released since William Hill Australia launched its Click To Call app in April 2015.
The IGA restricts remote in-play betting to wagers placed over the phone, a requirement the apps dodged by utilizing smartphone voice recognition technology to confirm digitally-placed wagers.
The 3-year-old son of Hat Trick returns to the seaside track July 15 on opening day with a drop in class to the $100,000 Oceanside Stakes, but will face a loaded field as he seeks a return to the winner’s circle.
Thoroughbred Charities of America announced July 13 grants totaling $535,851 have been awarded to 71 Thoroughbred industry-related non-profits that work to uphold TCA’s mission.
Online gambling technology provider Playtech has acquired Austrian sports betting software outfit Best Gaming Technology (BGT).
On Wednesday, Playtech announced that it had dipped into its vast cash stockpile to pay €138m for 90% of BGT, which provides proprietary software for around 24k self-service betting terminals (SSBT) in retail betting shops.
BGT founder Dr. Armin Sageder will hang on to the other 10% and will stay on as CEO for at least three years following completion of the transaction.
Playtech has a call option to purchase Sageder’s 10% share at a value of 6x BGT’s 2019 earnings, with a €55m cap. Sageder could earn a further €5m based on BGT hitting certain performance targets.
Online gambling technology provider Playtech has acquired Austrian sports betting software outfit Best Gaming Technology (BGT).
On Wednesday, Playtech announced that it had dipped into its vast cash stockpile to pay €138m for 90% of BGT, which provides proprietary software for around 24k self-service betting terminals (SSBT) in retail betting shops.
BGT founder Dr. Armin Sageder will hang on to the other 10% and will stay on as CEO for at least three years following completion of the transaction.
Playtech has a call option to purchase Sageder’s 10% share at a value of 6x BGT’s 2019 earnings, with a €55m cap. Sageder could earn a further €5m based on BGT hitting certain performance targets.
UK-listed online gambling operator GVC Holdings had a “particularly strong” second quarter thanks to higher turnover and unlucky punters.
GVC released an H1 trading update on Wednesday, showing net gaming revenue up 8% to €439m on a pro-forma basis, which includes contributions from Bwin.party brands as of January 1 rather than the official acquisition completion date of February 1. Official H1 numbers will be released on September 20.
As might be expected, GVC’s actual revenue was up 223% to €388m following the Bwin.party boost. GVC’s own brands (Sportingbet, Betboo) reported revenue up 15% while Bwin.party pro forma revenue improved by 9%. The Q2 figures were even healthier given the first half of the Euro 2016 football tournament, with GVC brands up 24% and Bwin.party up 12%.
On a pro forma basis, overall Q2 revenue per day was up 11% to €2.45m. Gaming revenue was up 8% to €1.3m thanks to new products and increased cross-sell from sports bettors. Sports revenue spiked 25% to €972k despite betting turnover rising only 5% as margins gained two full points to 9.9%.
Valentin Vornicu, a WSOP Circuit pro, sits atop the leaderboard after Day Two in the Main Event. Vornicu, from San Diego, bagged up 838,600 chips. His closest competitor Jamie Shaevel has 586,000 in his stacks. Vornicu has just 12 cashes, for $76,134 lifetime at the summer series. But don’t let that fool you. He is a […]
The post WSOP Day 42 Recap: Circuit King Vornicu Tops Main Event Field, Little One for One Drop Gets Underway appeared first on .
Two members of Congress who support pari-mutuel tax changes submitted a joint letter July 12 urging the United States Department of Treasury to finalize new language.
Fasig-Tipton has cataloged 306 yearlings for its annual New York-bred yearling sale in Saratoga Springs, N.Y.
The worst has yet to come in China’s ailing gaming hub.
Global investment bank Morgan Stanley is bracing itself for Macau casino’s second quarter operating results which they predicted to be “the worst quarter in the last five years.”
Even before casinos start reporting their second quarter earnings this month, analysts at Morgan Stanley it is already anticipating the worst for this former Portuguese colony.
“Weak second quarter revenue is well understood, but will result in negative earnings revisions for 2016,” Analysts Praveen Choudhary, Alex Poon, and Thomas Allen said in a research note, according to GGRAsia.
United Kingdom’s decision to leave the European Union has far-reaching ramifications. Literally.
Genting Malaysia Bhd, one of the handful of Asian companies with the most UK exposure, saw its shares drop by 4.4 percent since the June 23 referendum as investors find the company’s foray into the European country’s gaming market too much of a gamble.
Genting Malaysia, which operates 43 casinos in the UK, is among the 10 Asia-Pacific companies “most at risk to Britain’s economic slowdown,” according to Bloomberg data.
Analysts at Nomura Holdings Inc. forecast a drop of 1 percent in earnings per share for Genting Malaysia “for every 10 percent slide in the pound-ringgit rate” this year.
A proposed casino has sparked a legal war between two tribes in California.
The Picayune Rancheria of Chukchansi Indians has brought North Fork Rancheria of Mono Indians to court over the latter’s plan to develop a casino on trust land in the City of Madera, according to news website Sierra Star.
In its petition, Chukchansi tribe asked the court to enjoin the Stations Casinos-backed Mono tribe from developing the trust land, which they claim to not constitute Indian lands for gaming as per the Indian Gaming Regulatory Act (IGRA).
They fear that the proposed casino will cause financial harm to Chukchansi’s gaming facility, taking away many of their guests.
888 has punted a little early on the possibility that Pennsylvania will pass an online gambling legislation.
Several news outlets reported on Tuesday that the gambling company recently rolled out a promotional campaign in the state. The campaign, which was launched quietly, was a cross-promotion between 888 and its land-based online gambling partner, Mount Airy Casino Resort.
According to Online Poker Report, players that sign up to 888 Casino NJ via the casino’s website will receive $25 “no deposit” bonus, which they can redeem as soon as HB 2150 is passed by the Senate.
The offer comes with several caveats: the bonus does not apply to 888 Poker and only players located in the state of New Jersey are eligible for the offer.
888 has punted a little early on the possibility that Pennsylvania will pass an online gambling legislation.
Several news outlets reported on Tuesday that the gambling company recently rolled out a promotional campaign in the state. The campaign, which was launched quietly, was a cross-promotion between 888 and its land-based online gambling partner, Mount Airy Casino Resort.
According to Online Poker Report, players that sign up to 888 Casino NJ via the casino’s website will receive $25 “no deposit” bonus, which they can redeem as soon as HB 2150 is passed by the Senate.
The offer comes with several caveats: the bonus does not apply to 888 Poker and only players located in the state of New Jersey are eligible for the offer.
First it was Sheldon Adelson. Now, another casino tycoon has thrown his hat in the ring for the push to bring the Oakland Raiders to Las Vegas.
Wynn Resorts owner Steve Wynn revealed this week he is among the group of people “working hard” in the campaign to lure the National Football League (NFL) franchise into the Nevada desert.
In an interview with TMZ news outlet, Wynn said: “I don’t think any city is better suited for a team. I think having the Raiders in Las Vegas is the perfect thing to compliment the city, and to give everybody another excuse to come to Las Vegas… We’ve got all those wonderful rooms at the right price.”
Major sports leagues, including the NFL and the National Hockey League (NHL), were previously against having their teams play in a city where sports betting is legal—until Oakland Raiders owner Mark Davis started discussing his plans to relocate the team to the Sin City. The league said it is open to put a team in Las Vegas, but only if the city comes up with a good stadium deal.