Monthly Archives: August 2016

Julian Sacks Wins WSOP Circuit Foxwoods Main Event for $148,350

At the WSOP Circuit Foxwoods Main Event on Friday, New Jersey’s Julian Sacks got to redeem himself. Two years ago, Julian Sacks finished runner-up in the 2014 World Series of Poker Circuit Harrah’s Philadelphia Turbo Event. On that day, it was Lucas Picking’s time to shine, and Sacks had to come to terms with just […]

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WPT Legends of Poker Day Two Recap:  67 Remain, Jeremy Kottler Leads the Way

After two days of play in the WPT Legends of Poker at The Bicycle Club in Los Angeles, there are 67 players remaining going into the start of Tuesday’s play. Jeremy Kottler has a sizeable chip lead with 1,048,000. His nearest competitor, Jamie Rosen, has 780,000. Kottler ranks 10th in Ohio for the all-time live tournament […]

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The Hayemaker signs up for Betting on Sports 2016

Former Boxing World Champion David Haye will speak at Betting on Sports 2016

London, August 30th, 2016: David ‘Hayemaker’ Haye, a former boxing World Champion in two weight divisions, will be one of the headline panel speakers at the Betting on Sports conference, organised by SBC Events.

David Haye will be alongside Adam Roland from Heavyweight Sports, and Stuart Tilly from Argyll Tech, the operator behind the new Alan Brazil branded sportsbook BetOnBrazil, to talk about how companies use brand ambassadors and how they can be effective in the gaming industry.

Just a few hours after the panel discussion, Haye will be back for The BiG Sports Charity Gala Dinner, where he will be taking photos with dinner guests and interviewed by Rugby Union star, and host for the night, James Haskell. The Wasps flanker was Player of the Series as England whitewashed the Wallabies 3-0 in their own backyard this summer.

Game-tech NYX H1 revenue up 165.9%

Online gambling technology supplier NYX Gaming Group acquisition of sports betting technology supplier Openbet is proving to be a good decision – if the sole basis is the first half of 2016 revenue results alone.

In a statement, NYX announced that its Jan-June 2016 revenue surged by 165.9 percent to C$54.9 million (US$42.1 million) compared to the first half revenue of 2015. The Canada-listed firm attributed the stellar performance of its company to the £270 million (US$353.05 million) acquisition of OpenBet.

On the other hand, Gross profit for the six months ended June 30, 2016 spiked by 163.2 percent to reach C$47 million (US$36.04 million). Gross margin stood at 85.7 percent compared to 86.5 percent reported for the same period of 2015.

Adjusted EBITDA for this year’s first six months totaled C$15.3 million (US$ 11.73 million), up 224.6 percent year-on-year.

Game-tech NYX H1 revenue up 165.9%

Online gambling technology supplier NYX Gaming Group acquisition of sports betting technology supplier Openbet is proving to be a good decision – if the sole basis is the first half of 2016 revenue results alone.

In a statement, NYX announced that its Jan-June 2016 revenue surged by 165.9 percent to C$54.9 million (US$42.1 million) compared to the first half revenue of 2015. The Canada-listed firm attributed the stellar performance of its company to the £270 million (US$353.05 million) acquisition of OpenBet.

On the other hand, Gross profit for the six months ended June 30, 2016 spiked by 163.2 percent to reach C$47 million (US$36.04 million). Gross margin stood at 85.7 percent compared to 86.5 percent reported for the same period of 2015.

Adjusted EBITDA for this year’s first six months totaled C$15.3 million (US$ 11.73 million), up 224.6 percent year-on-year.

Two Las Vegas Sportsbook Stocks To Buy Before NFL Kickoff

With the NFL season about to kick off, Las Vegas sportsbooks are about to get a nice revenue bump. Just like the situation with the English Premier League in the UK though, trades or long term positions should not be made based solely on seasonal trends that the entire market is already aware of. If we may hark back to a 1995 episode of The Simpsons when Homer invests in pumpkins in October and singes a one dollar bill to light a cheap cigar in celebration of his notional gains, markets don’t really work that way. The question really is whether the bump that sportsbooks will get due to the NFL season will be more or less than what the market expects.

My hunch is that it will be more, and here’s why. Though some Las Vegas firms have shown some tentative signs of weakness, particularly MGM in its last quarterly report on shrinking volumes, it is likely that this is only a temporary downturn due to seasonally shrinking dollar supply growth that generally happens around July and August, as those who read CalvinAyre are well aware of by now. That downturn is now over and done with, and the quarterly trough this year was about 3 times higher than the quarterly trough last year, which ended up causing the August 24th, 2015 market crash. There is very little chance of that happening now, barring some kind of political or natural disaster in the US like an Earthquake in Las Vegas or something, or a financial disaster in Europe that could come at any time. Assuming none of that will happen until after this year’s Super Bowl, we have a green light to go back in to Las Vegas stocks, particularly ones with sportsbook revenues.

The NFL season is fortuitously blessed to be in synch with seasonal money supply expansion trends. It starts in September and ends in early February, precisely when dollars are multiplying at their fastest seasonal rate. This year, given that the trough in dollar supply expansion was much higher than in 2015, we have a considerable head start to this year’s trek back up. We could even get to double digit expansion by January in the thick of the playoffs, which would really fuel stock prices much higher. People will have more money in their pockets that they will use to bet on games, among other things. The US remains at full employment and will probably stay there by the end of the NFL season, consumer spending keeps going higher, and “everything is awesome” for now, as they say. It won’t be awesome perpetually, but for now it is.

Buy at a high?

Singapore’s central bank proposes regulatory framework for digital currency start-ups

The central bank of Singapore is making a move to put digital currency exchanges under its oversight.

The Monetary Authority of Singapore (MAS) is reportedly proposing a new regulatory framework for payments providers, including digital currency exchanges, in the city state, according to CoinDesk.

Under the proposal, payment activities will be divided into several categories and companies involved in payment services will be required to obtain a license from the central bank. Digital currency exchanges in the country, like CoinHako, Coinbase and Quoine, will be covered by a provision that oversees start-ups providing “money transmission and conversion services.”

“Regulation will be applied on an activity basis, and entities will only be required to apply for a single license to undertake several payment activities,” MAS said in a statement. “The proposed framework aims to strengthen standards of consumer protection, anti-money laundering, and cyber security related to payment activities, while facilitating innovation and system interoperability.”

PAGCOR to privatize casinos

The Philippine government will sell casinos operated by the Philippine Amusement and Gaming Corporation (PAGCOR) as it plans to focus solely on their regulatory function.

Quoting PAGCOR chair Andrea Domingo, The Philippine Star reported that the funds to be raised from the privatizing casinos will help support the government’s proposed P3.35-trillion (US$ 72.11 billion) 2017 national budget.

Domingo did not say how much the government will earn from the privatization of government casinos but she gave the lawmakers an idea of the yearly revenues of government-owned casinos.

“Finance Secretary Carlos Dominguez has told us to privatize Pagcor-owned casinos,” Domingo told legislators during a recent budget briefing at the Philippines’ House of Representatives. “We are now preparing the template for the planned privatization so we could maximize the benefits for the government,” she said.

Legal costs weigh on Sun International’s profit

South Africa-based casino operator Sun International ekes out a 15 percent revenue increase for the full-year ending in June, despite incurring a R503 million (US$ 34.86 million) losses due to purchasing costs and legal settlements.

Sun’s overall revenue rose to R12 billion (US$831.56 million) in the year, thanks to its Latin American casinos, which saw its revenues surge by 40 percent to R2.45 billion (US$ 169.78 million), according to Business Day.

In June, relevant gambling regulators in Latin America has approved the merger of Sun and Chile-based gaming and entertainment firm Dream SA. Dreams portfolio includes six casinos in Chile — Iquique, Temuco, Valdivia, Puerto Varas, Coyhaique, Punta Arenas — and four in Peru, which are all in Lima.

Sun pointed out that its Chilean casinos has already bounced back from a smoking ban implemented in 2013, posting a 6.6 percent and 15 percent revenue and earnings before interest‚ tax‚ depreciation and amortization (EBITDA) growths, respectively.

Legal costs weigh on Sun International’s profit

South Africa-based casino operator Sun International ekes out a 15 percent revenue increase for the full-year ending in June, despite incurring a R503 million (US$ 34.86 million) losses due to purchasing costs and legal settlements.

Sun’s overall revenue rose to R12 billion (US$831.56 million) in the year, thanks to its Latin American casinos, which saw its revenues surge by 40 percent to R2.45 billion (US$ 169.78 million), according to Business Day.

In June, relevant gambling regulators in Latin America has approved the merger of Sun and Chile-based gaming and entertainment firm Dream SA. Dreams portfolio includes six casinos in Chile — Iquique, Temuco, Valdivia, Puerto Varas, Coyhaique, Punta Arenas — and four in Peru, which are all in Lima.

Sun pointed out that its Chilean casinos has already bounced back from a smoking ban implemented in 2013, posting a 6.6 percent and 15 percent revenue and earnings before interest‚ tax‚ depreciation and amortization (EBITDA) growths, respectively.

Eagle-eyed China keeping close tabs on 26 online game operators

After Baidu, Beijing has set its sights on a new target: online games.

The Ministry of Culture has reportedly warned 26 online game operators to resolve their violations, which include running banned gams and failing to use real-name registrations, among other things, according to state news agency Xinhua.

Of these group, 16 groups are being investigated over online games that involve pornography, gambling and content “against social ethics.”

The operators are also being accused of failing to inform the public before suspending a game as well as failing to put in place measures that will prevent minors from “becoming addicted to their games.”

ONE: Defending Honor Set For Singapore Indoor Stadium On 11 November

30 August 2016 – Singapore: The largest sports media property in Asian history, ONE Championship™ (ONE), has just announced its return to Singapore on 11 November for another exciting evening of world-class mixed martial arts action. The Singapore Indoor Stadium will play host to ONE: DEFENDING HONOR which will showcase the absolute best in local and international MMA talent. Headlining the card will be ONE Lightweight World Champion Shinya “Tobikan Judan” Aoki as he is set to defend his title against the Philippines’ Eduard “Landslide” Folayang.

Tickets for ONE: DEFENDING HONOR will go on sale next Monday, 5 September, 2016.

CEO of ONE Championship, Victor Cui stated: “Filipino fight fans have been waiting a long time for this one. Eduard Folayang has been with ONE Championship since the beginning and has performed at an extremely high level in his last couple of bouts. He is deserving of a title shot which he earned with victories over Tetsuya Yamada and Adrian Pang. The Singapore Indoor Stadium is going to erupt when fans finally get to see Folayang stand opposite Shinya Aoki inside the ONE Championship cage.”

Lightweight veteran Shinya “Tobikan Judan” Aoki of Shizuoka, Japan, is one of the world’s most decorated mixed martial artists. He is the DREAM Lightweight Champion, former Shooto Welterweight Champion, and the reigning ONE Lightweight World Champion. The 33-year-old Aoki is a Brazilian jiu jitsu black belt under Yuki Nakai and has won multiple grappling tournaments across the globe. He also holds a black belt in judo. A veteran of over 40 professional bouts which includes an impressive 25 victories by submission, Aoki’s reputation as a grappling specialist is unrivaled. Aoki is currently riding a nine-fight win streak, and is set to step back inside the ONE Championship cage to defend his lightweight title against Eduard Folayang.

Icahn junks new Trump Taj Mahal casino workers’ offer

Billionaire casino investor Carl Icahn threw out a new offer made by casino workers’ union Local 54 of Unite-HERE, which the group claimed would have prevented the closure of the beleaguered Trump Taj Mahal casino.

The Associated Press reported that Icahn has stood pat in his decision to shutter the Trump Taj Mahal on October 10, 2016 and no new offer from Local 54 will ever change the mind of the businessman.

Tony Rodio, president of the Tropicana casino, which Icahn also owns, reiterated the earlier statement of Icahn that the union has no one but itself to blame for the impending loss of nearly 3,000 jobs.

“This was not a negotiating session,” Rodio said. “As previously announced, the Taj Mahal will close its doors on October 10, 2016… If McDevitt cared even one iota about the future of the employees he would have allowed them to vote on the proposal we offered five weeks ago based on his recommendations, which we believe could have saved the Taj. But in the end he blindsided us and the employees because closing the Taj served his personal purposes.”