Monthly Archives: August 2016

Pennsylvania Poker Rooms Hold Steady on Revenues, Online Poker Still Teetering

We have some good and bad news about Pennsylvania poker rooms. The good news is the 10 poker rooms in the state didn’t see a decline in revenue during the month of July compared to the same month in 2016. The bad news is there wasn’t an increase, either. In both years, July poker revenue […]

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Galaxy beats income estimates to deliver over $300M first-half profit

Macau casino operator Galaxy Entertainment Group (GEG) continues its winning streak in the first half of 2016.

In a filing with the Hong Kong Stock Exchange, GEG reported that its first-half net profit reached HK$2.6 billion ($335.31 million), a 26 percent increase compared to the same period last year. Group revenue also rose by 1 percent, but a 15 percent decline in revenue from VIP visitors has dulled gains from mass market visitors.

Total revenue in the first six months reached HK$25.5 billion, a small increase compared to the HK$25.4 billion year-on-year.

GEG’s other properties, StarWorld Macau continues to suffer from its ongoing transition to a more mass-centric business, as first-half revenue dropped 22 percent year-on-year to HK$5.6 billion. Broadway Macau, on the other hand, played lucky in second quarter, which increased adjusted EBITDA by about HK$2 million. GEG said hotel occupancy at Broadway Macau, which has no VIP facilities, was “virtually 100 percent.”

Bitcoin sportsbook Sportsbet.io enjoys Olympics betting boom

26th August, 2016 – Rio 2016 was the most gambled on Olympics ever, according to figures from Sportsbet.io.

The Bitcoin sportsbook enjoyed a bumper Games, with 40 per cent of bets taken during the 16-day event coming on Olympic markets, with tennis and football proving the most popular sports.

Nearly a quarter of all Olympic bets struck in August came on the tennis, with Andy Murray’s gold medal-winning game against Martin Del Potro proving most popular with punters.

Football also commanded a big slice of the action with one in five bets placed on the sport, but perhaps most surprising was the popularity of handball, which saw similar results.

LVbet Signs Sponsorship Deal with Kölner Haie

Betting site LVbet is excited to announce that they are the proud sponsors of German ice-hockey team Kölner Haie from the Deutsche Eishockey Liga. Kölner Haie have become a much loved team all around Europe with regularly sold-out arena attendances thanks to their legion of devoted fans. LVbet is looking forward to joining this colossal sporting family and hope that this relationship will flourish and be mutually rewarding over the years to come.

On the 20th of August, LVbet visited the Kölner Haie fans at the Sommerfest 2016, a big summer party at the Chocolate museum in Cologne that celebrates the opening of the ice-hockey season. With over 5,000 fans in attendance, this was the biggest opening in the history of the club. The bands Kasalla, Kuhl un the Gäng, Björn Heuser, and The Atrium rocked the stage before the team came on stage to massive cheers. LVbet had the opportunity to meet many Sharks fans, introducing them to the site’s features as well as some upcoming Kölner Haie related promotions.

As their first big celebration of this sponsorship, LVbet is organising the Bissfest Gewinnspiel tournament. The tournament, which is only open to registered players on LVbet.com, gives Kölner Haie fans the chance to win some amazing prizes including Season Tickets, signed Hockey Shirts, and other official merchandise. The tournament will coincide with the real Deutsche Eishockey Liga season 2016/2017 and winners will be announced during a live draw held at the Lanxess Arena during the last home game of the season. More details on this exclusive giveaway can be found on LVbet.com.

LVbet is an online betting site made by games fans for games fans. The LVbet casino is powered by over 200 of the best video slots around, and features both new and classic titles to cater for gamers of all kinds. The LVbet sportsbook covers all the major sporting events around the globe. From the Champions League to the NBA, Formula 1 and of course the Deutsche Eishockey Liga, LVbet offers players the opportunity to bet on hundreds of events with high odds and special bets.

Baidu freezes bitcoin-related promotions

China’s leading search engine Baidu has halted—sans any warning—all bitcoin and digital currency-related advertising on its network.

Chinese media outlet CnLedger broke the news on Friday, with a tweet that said Baidu “has stopped all virtual coin related keyword advertising (paid search), including bitcoin.” Local bitcoin exchanges OKCoin and Huobi has confirmed the ban to Bloomberg News, but declined to comment on it.

The way analysts see it, there are two possible reasons why Baidu has decided to quietly remove digital currency promotions. First, the decision could be part of the company’s plan to cull out Ponzi schemes or scam-like cryptocurrency advertisements on the platform. Or it could be due to a request from the government.

Zennon Kapron, managing director of Shanghai-based consulting firm Kapronasia, told Bloomberg the move “could be a precursor to China being ready to push for a more nationalized approach to virtual currencies.”

France kicks off first legalized DFS with football

Daily fantasy sports operator Winamax has kicked off its fantasy football in France to signal the start of a regulated fantasy sports in the country.

According to Legal Sports Report, Winamax was the first DFS firm allowed by the French government to operate since it decided to regulate the fantasy game in the country. To easily capture the market, Winamax rolled out a fantasy football competition to the die-hard football nation.

Winamax, a regulated market leader in online poker ahead of PokerStars, rolled out its latest product The Coach’s Game in time for the beginning of the French Ligue 1 football season.

Based on the game mechanics, players will be offered a choice of five-a-side or full teams. They will have an initial play-money budget from which they must construct a team consisting of a goalkeeper, defenders, midfielders and forwards.

Bankruptcy judge unlikely to shield Caesars from lawsuits

Struggling casino operator Caesars Entertainment Corp. (CEC) is bracing itself from a volley of future bondholder lawsuits as a federal judge hearing its bankruptcy case may not push the shield button.

On top of that, Casesars’ plea for a $900 million bailout has fallen on the deaf ears of the company’s majority shareholders, Apollo Global Management and TPG capital.

Bloomberg reported that U.S. Bankruptcy Judge A. Benjamin Goldgar, which is expected to decide on Friday whether to extend a halt on lawsuits in New York and Delaware, is unlikely award Caesars with a bondholder lawsuit protection lawsuits that would last as long as its insolvent operating company is in bankruptcy

Judge Goldgar offered hints of his likely decision near the end of a three-day hearing of Caesar’s petition to extend a ban on the lawsuits, which is crucial to making progress toward a settlement with creditors, Reuters reports.

Playtech pays investors close to $170M as revenues grow 18% in H1

Gambling software supplier Playtech is treating shareholders to a €150 million ($169.38 million) special dividend as revenues posted strong growth in the first half of 2016.

The company, which provides software to online gambling and sports betting groups, also raised its interim dividend by 15 percent to 11 cents per share.

Revenues rose 18 percent to €337.7 million ($381.33 million) in the six months ending June 30, from €286 million ($322.95 million) in the same period last year, as revenues from its flagship arm posted an 11 percent increase to €306.4 million ($345.99 million).

The plunge in sterling, however, dragged down the company’s net profit by 42 percent to €48.8 million ($55.1 million) from €83.9 million ($94.73 million) in the same period last year.

Genting Malaysia’s Q2 profit jumps to $115.9M

Net profit of casino operator Genting Malaysia Bhd soared by as much as 108 percent in the second quarter, buoyed by a strong UK casino business that has kept the company afloat in a “challenging operating environment.

In Thursday’s disclosure to Bursa Malaysia, Genting reported that its net profit more than doubled to RM476.44 million (US$118.43 million) during the April to June 2016 period compared to the same period last year mainly due to a turnaround in its UK casino business.

On the other hand, Genting’s total revenue for the first six months of 2016 grew by nine percent year-on-year to RM4.45 billion (US$ 1.11 billion). Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the period increased by 6 percent, to RM1.11 billion (US$275.92 million). Net profit was up 5 percent year-on-year at RM609.4 million (US$151.48 million).

Data showed that Genting’s UK casino saw its revenue jump by 70.7 percent to RM504.2 million (US$125.33 million) revenue year-on-year. The adjusted EBITDA of Genting’s casino business in UK was at RM92.8 million (US$23.07 million).

Genting Malaysia’s Q2 profit jumps to $115.9M

Net profit of casino operator Genting Malaysia Bhd soared by as much as 108 percent in the second quarter, buoyed by a strong UK casino business that has kept the company afloat in a “challenging operating environment.

In Thursday’s disclosure to Bursa Malaysia, Genting reported that its net profit more than doubled to RM476.44 million (US$118.43 million) during the April to June 2016 period compared to the same period last year mainly due to a turnaround in its UK casino business.

On the other hand, Genting’s total revenue for the first six months of 2016 grew by nine percent year-on-year to RM4.45 billion (US$ 1.11 billion). Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the period increased by 6 percent, to RM1.11 billion (US$275.92 million). Net profit was up 5 percent year-on-year at RM609.4 million (US$151.48 million).

Data showed that Genting’s UK casino saw its revenue jump by 70.7 percent to RM504.2 million (US$125.33 million) revenue year-on-year. The adjusted EBITDA of Genting’s casino business in UK was at RM92.8 million (US$23.07 million).

Calling The Clock: The EPT Dies; PokerStars Championship Rises From The Ashes; California Online Poker Bill Doesn’t

In this week’s poker news round-up we bring you news of the evolution of the European Poker Tour, the sorry mess that is the California Online Poker debacle, and much more.

PokerStars and the California online poker market has dominated the news this week so that’s where I will begin my customary weekly news round up.

On Sep 18, 2004 229 players each paid €1,000 to compete in the first-ever European Poker Tour (EPT) Main Event in Barcelona. 13 Seasons later and 1,785 people have just paid €5,300 to compete in the same event including the golfer Sergio Garcia and Barcelona and Spain centre-half Gerard Pique.

The World Series of Poker (WSOP) has nostalgia.

NFL Betting: NFC North Preview

Teams from the NFC North had a combined regular season record of 34-30 a year ago. This upcoming season, the four teams will play eight games each against NFC East and AFC South opponents. Those two opposing divisions were the worst in their respective conferences last year. It’s certainly not out of the realm of possibility that NFC Central teams can possibly account for as many as 38 regular season wins. If that’s indeed the case, we may see three playoff teams come from this division.

NFC North Futures Odds

• Green Bay Packers (-140)

• Minnesota Vikings (+200)

NFL Betting: AFC South Preview

The South was unequivocally a worst of the four AFC divisions last season. The four teams combined to go a dismal 25-39 (.391). Houston won the division title with an uninspiring 9-7 record. They were able to accomplish it by going 5-1 within the division. Houston went on to get crushed at home by Kansas City 30-0 during its lone playoff game. Tennessee and Jacksonville have been bottom feeders in each of the last two seasons, evidenced by their cumulative record of 13-51 (.203) over that course of time. I look for both of those teams to be substantially improved in 2016. Then again, they have nowhere to go but up based on their recent futility.

Odds to Win AFC South

• Indianapolis Colts (+140)

• Houston Texans (+190)