Monthly Archives: September 2016

Singapore may allow punters to bet online starting October: report

Singapore Pools may not have made it in time for Euro 2016, but there’s only a little bit of wait left before the state-owned lottery company will be able to launch its online services.

In fact, the lottery operator, along with the Singapore Turf Club, is reportedly gearing up to launch “as early as the second half” of October. According to The Straits Times, the two lottery operators “are running final tests on their online betting platforms and have prepared advisories for staff and customers” in hopes of getting exempted from the Remote Gambling Act (RGA) by the end of September.

The RGA, which took place in February 2015, prohibits all online gambling sites in Singapore except those that divert most of their proceeds to charitable and other social causes. Both Singapore Pools and the Singapore Turf Club are non-profit organizations operating under the umbrella of the Ministry of Finance’s statutory Singapore Tote Board, and their gaming wins are channelled to the board for charitable and social causes. Singapore Pools, which holds a monopoly on sports lottery products in the city state, has been given six months to apply for an exemption on the RGA.

The Ministry of Home Affairs told The Straits Times that it currently “evaluating applications” from the two operators.

Singapore may allow punters to bet online starting October: report

Singapore Pools may not have made it in time for Euro 2016, but there’s only a little bit of wait left before the state-owned lottery company will be able to launch its online services.

In fact, the lottery operator, along with the Singapore Turf Club, is reportedly gearing up to launch “as early as the second half” of October. According to The Straits Times, the two lottery operators “are running final tests on their online betting platforms and have prepared advisories for staff and customers” in hopes of getting exempted from the Remote Gambling Act (RGA) by the end of September.

The RGA, which took place in February 2015, prohibits all online gambling sites in Singapore except those that divert most of their proceeds to charitable and other social causes. Both Singapore Pools and the Singapore Turf Club are non-profit organizations operating under the umbrella of the Ministry of Finance’s statutory Singapore Tote Board, and their gaming wins are channelled to the board for charitable and social causes. Singapore Pools, which holds a monopoly on sports lottery products in the city state, has been given six months to apply for an exemption on the RGA.

The Ministry of Home Affairs told The Straits Times that it currently “evaluating applications” from the two operators.

FlowPlay Introduce In-Play DFS Free-to-Play Model Ready Set Bet

FlowPlay has launched an innovative new game called Ready Set Go that allows users to make in-play bets during football and baseball games in a Daily Fantasy Sports style.

When I was a lad, there was something about the blackened out windows of brick and mortar bookmakers that would have made me climb over 50 naked ladies to get a look inside.

Things have changed quite rapidly in the betting game. The blackened windows have gone, and nobody is interested anymore because they can make a bet with a few swipes of a mobile phone, and the win/loss/draw has become 90+ different options due to the introduction of in-play betting.

These days you can bet on almost anything, and that includes the emergence of Daily Fantasy Sports (DFS). Until recently DFS was missing one vital element to make the dish even tastier – a decent in-play offering.

3-Barrels: Selbst Charity Poker Night; Former EPT Host in Instagram Storm; Williams in Masterchef Final

3-Barrels of pure value including Vanessa Selbst readying herself for another charity poker night, a former European Poker Tour host in an Instagram storm, and David Williams explaining why the whole world hates him ahead of the Masterchef Final.

The baddest female poker player on the planet is busting out her second iteration of her Justice is Blinds charity poker night. For the second year running, Vanessa Selbst will be hosting the charity fundraiser with all proceeds heading towards the kitty of The Urban Justice Centre.

The event is due to take place Tuesday, September 27 at the Roman classic 1895 New York landmark Capitale. Poker aside, there will be a magician, an open bar and a vast array of celebrities and professional poker players.

If you want to get involved, then it will cost you $8,000 to fill a table of nine; $1,000 to enter the charity poker contest, $500 if you want to skip the poker and $1,000 for a VIP Cocktail Hour with both Selbst and Daniel Negreanu. The PokerStars figurehead will be on hand to support Selbst for the second successive year.

3-Barrels: Selbst Charity Poker Night; Former EPT Host in Instagram Storm; Williams in Masterchef Final

3-Barrels of pure value including Vanessa Selbst readying herself for another charity poker night, a former European Poker Tour host in an Instagram storm, and David Williams explaining why the whole world hates him ahead of the Masterchef Final.

The baddest female poker player on the planet is busting out her second iteration of her Justice is Blinds charity poker night. For the second year running, Vanessa Selbst will be hosting the charity fundraiser with all proceeds heading towards the kitty of The Urban Justice Centre.

The event is due to take place Tuesday, September 27 at the Roman classic 1895 New York landmark Capitale. Poker aside, there will be a magician, an open bar and a vast array of celebrities and professional poker players.

If you want to get involved, then it will cost you $8,000 to fill a table of nine; $1,000 to enter the charity poker contest, $500 if you want to skip the poker and $1,000 for a VIP Cocktail Hour with both Selbst and Daniel Negreanu. The PokerStars figurehead will be on hand to support Selbst for the second successive year.

Caesars creditors get okay to study hedge fund execs’ personal finances

The hedge fund execs that control casino operator Caesars Entertainment have been ordered to let Caesars creditors have a peek at their personal bank statements.

Last week, the Chicago judge handling the bankruptcy of Caesars’ main division expressed frustration over his inability to get clarity on exactly how much money Apollo Global Management and TPG Capital were willing to contribute to bridge the gap between what Caesars creditors are seeking and what Caesars is offering.

Caesars Entertainment Operating Co (CEOC) filed for Chapter 11 bankruptcy protection in January 2015, citing $18.4b in debts. Caesars has proposed a restructuring that would halve that debt, with most of the vanished money coming out of junior creditors’ pockets.

Junior creditors have sued CEOC’s parent company over what they claim were fraudulent pre-bankruptcy asset transfers and scrapping of debt guarantees intended to protect Caesars’ more valuable holdings at the creditors’ expense.

Caesars creditors get okay to study hedge fund execs’ personal finances

The hedge fund execs that control casino operator Caesars Entertainment have been ordered to let Caesars creditors have a peek at their personal bank statements.

Last week, the Chicago judge handling the bankruptcy of Caesars’ main division expressed frustration over his inability to get clarity on exactly how much money Apollo Global Management and TPG Capital were willing to contribute to bridge the gap between what Caesars creditors are seeking and what Caesars is offering.

Caesars Entertainment Operating Co (CEOC) filed for Chapter 11 bankruptcy protection in January 2015, citing $18.4b in debts. Caesars has proposed a restructuring that would halve that debt, with most of the vanished money coming out of junior creditors’ pockets.

Junior creditors have sued CEOC’s parent company over what they claim were fraudulent pre-bankruptcy asset transfers and scrapping of debt guarantees intended to protect Caesars’ more valuable holdings at the creditors’ expense.

World Poker Tour Partners With Education Investment LTD and Barrière Group

The World Poker Tour has announced two exciting new partnerships with Education Investment LTD and Barrière Group that will see the WPT National Series feature in Cambodia and Deauville.

Hendon Mob flag collectors may be interested to note that the World Poker Tour (WPT) has recently partnered with Education Investment LTD in a deal that will see two WPT National Series events held in Cambodia.

Father Christmas will have to fill his sack with poker chip sets as the first of the two events, WPT National Thailand, will take place Dec 22-29, 2016 at the Holiday Palace Casino & Resort in Poipet, Cambodia.

There will be a THB 37,400 ($1,100) buy-in Main Event consisting of three starting flights, Dec 22, 23 & 26. December 24 & 25 will be a day off for Main Event players, for obvious reasons, but the action will continue on those dates with side events and a special guest party.

Optimove Raises $20 Million from Israel Growth Partners to Continue Innovating the Customer Marketing Space

New York and Tel Aviv, Israel – September 14, 2016 – Optimove, the leading Customer Marketing Cloud, announced today that it has raised $20 million in growth funding from Israel Growth Partners, a private equity investment firm that focuses on later stage investments. The round marks the first funding for the nearly eight-year-old company, after three straight years of 100% year-over-year growth.

The current growth round comes on the heels of stable expansion of Optimove and is aimed to propel the company into extreme growth. Optimove has bootstrapped the way to its present status as market leader in its space, and has never taken VC funding.

Used by more than 200 companies, including 1-800-flowers.com, Zynga, eBags and others, the company’s Customer Marketing Cloud currently sends more than 4 billion targeted, personalized messages to over 900 million customers every year through email, Facebook, Google Ads, SMS, push notifications, and other channels. Optimove currently employs more than 100 employees in offices in New York, London and Tel Aviv.

Israel Growth Partners (IGP) is a Private Equity investment firm founded by Moshe Lichtman and Haim Shani, two of Israel’s most experienced global tech leaders. IGP is backed by leading financial institutions including banks, insurance companies and pension funds.

Iao Kun Group closes two more Macau casino VIP gaming rooms

Macau casino junket investor Iao Kun Group Holding Ltd (IKGH) is following through on its vow to further reduce the scope its Macau operations.

On Tuesday, IKGH announced that it had closed its VIP gaming rooms at Galaxy Entertainment Group’s Galaxy Macau and StarWorld properties. As a result, IKGH has also terminated its related deals with Sang Heng and Sang Lung Gaming Promotion Ltd.

The closures follow last week’s announcement that IKGH had closed its VIP room at Sands China’s Sands Cotai Central and terminated its deal with King’s Gaming Promotion Ltd. The three closures leave IKGH with just two Macau VIP rooms, one at Melco Crown Entertainment’s City of Dreams and the other at SJM Holdings’ L’Arc Macau.

IKGH said the latest two closures will generate total annual savings of around $4m. The closures came as a result of IKGH’s strategic review of its Macau operations, and IKGH warned that it could take “additional action to reduce its operating expenses and preserve its capital position.”

Atlantic City casinos slide in August thanks to missing weekend

Atlantic City casinos suffered a summer slump in August and it’s all the calendar’s fault.

Figures released Wednesday by the New Jersey Division of Gaming Enforcement show brick-and-mortar gaming revenue at AC’s eight casinos fell 6.7% year-on-year to $229.8m in August. Throw in the $16.1m earned by the casinos’ online gambling sites and August’s year-on-year decline shrinks to 4.9%.

The DGE took pains to point out that August 2015 started on a Saturday, meaning it reaped the benefits of five weekends instead of the standard four. Taking issue with calendar quirks is standard operating procedure for the DGE, which noted that year-to-date gaming revenue is still up 2% to $1.768b.

However you slice it, slot machine revenue was down 5.3% to $167m while table games fared much worse, falling 10.3% to just under $62.8m. Must have been those table-loving millennials who failed to show up because of that missing weekend.

Turkish police bust major international online betting ring

Turkish authorities have broken up a major illegal online betting ring they claim is linked to a UK gambling figure.

Over the weekend, Cyprus media outlet Havadis reported that an operation led by Istanbul Police had arrested 39 individuals in 20 cities connected to the betting ring. Police said the operation, which had been under surveillance for five months, generated revenue of $100m per month.

Police claim the ring had links to Turkey, Turkish Cyprus and the UK. Police seized around £6m in cash as well as other assets, including luxury cars and apartment blocks. Havadis placed the total value of the assets seized in Cyprus at £150m, while the Turkish-based assets totaled $780m.

Police claimed the betting operation’s ringleaders included a Scott William Masterson (pictured, courtesy of Haberturk.com), who was described as a top exec at a legal UK betting company. A Scott Masterson is identified as a director of the Essex-based Masterson Leisure Ltd., which supplies gaming, lottery and amusement machines for pubs, clubs and arcades.