Monthly Archives: September 2016

Former sports betting tout Adam Meyer pleads guilty to extortion

Former Real Money Sports betting tout Adam Meyer has pled guilty to felony extortion and racketeering charges in connection with a $45m scam he ran on a former betting client.

Meyer, who originally pled not guilty to the charges, was arrested in November 2014 after Wisconsin-based customer Gary Sadoff alerted authorities that he’d been threatened with a gun by Meyer and an associate.

On Thursday, the Milwaukee Journal Sentinel reported that Meyer had reached a deal with prosecutors to plead guilty to five felonies in exchange for prosecutors dropping firearms charges. Meyer who will be sentenced on Dec. 9, could face up to 12 years in prison, although Meyer’s attorney is pushing for a five-year stint.

According to court documents, the $45.3m Meyer extracted from Sadoff between March 2009 and February 2011 is nearly twice the sum previously reported.

Italy’s online sports betting growing twice as fast as land-based wagers

Bet365 continues to increase its vice-like grip atop Italy’s online sports betting revenue charts.

Figures released by news agency Agimeg.it show total online sports betting turnover of €309.7m in the month of August, while land-based betting added a further €202.3m. Over the first eight months of 2016, total sports betting turnover is up 17% year-on-year, while the online portion is up 32.4%.

To absolutely no one’s surprise, Bet365 claimed the lion’s share (39.7%) of the online betting spend. Perpetual runner-up Eurobet was well back at €27m (8.7%) while local boys Sisal ranked third with €20.1m, narrowly edging out Snai’s €19.7m, Paddy Power Betfair’s €17.6m and William Hill’s €17m.

The online casino vertical reported revenue of €34.3m in August, up 35% year-on-year. The casino bounty was more evenly distributed, led by Lottomatica’s 11.8% share. Sisal ranked second with 8.5%, while Amaya Gaming’s PokerStars brand ranked third with 7.3%, beating out Eurobet (6.5%) and William Hill (6.3%).

Italy seeks 30% reduction in slots outside casinos

Italy’s top legislator has pledged to pursue a nearly one-third reduction in the number of gaming machines in bars, cafes, newsagents and hotels.

Earlier this week, Prime Minister Matteo Renzi gave an interview to a local magazine in which he claimed his administration was “developing a measure to remove [slots] from tobacconists and shops” in a bid to lessen gaming’s impact on youth and other vulnerable segments of society.

Economic undersecretary Pier Paolo Baretta followed up this statement by saying the government planned “a reorganization which takes into account social demand and therefore provides for a drastic reduction of [amusement with prizes machines] in the territory, accounting for 30 percent.”

Baretta said the government would target slots based on their physical proximity to “sensitive places,” presumably referring to the traditional schools, churches, etc. Baretta said the goal was to “find a solution that does not call into question the choices made ​​so far by local authorities but make them compatible with a more comprehensive regulatory framework.”

Betsson acquire Tony G’s TonyBet

Nordic gambling operator Betsson AB has expanded its Baltic markets presence via the acquisition of TonyBet’s parent company.

On Thursday, Betsson announced that it had acquired Lošimų strateginė grupė UAB, which operates under the TonyBet brand. Betsson has agreed to pay an initial €4m with a further €2m payable in 2017 if the site meets certain performance benchmarks. The deal is expected to officially close within one month.

TonyBet holds online gambling licenses in Lithuania, Latvia, Estonia, Denmark and the UK and also operates 20 retail betting shops in Lithuania. TonyBet was founded by Antanas Guoga aka Tony G, a well-known poker player and a Lithuanian-elected member of the European Parliament. Betsson said TonyBet generated revenue of €3m and adjusted earnings of €550k in the first half of 2016.

Betsson already operates in Baltic markets via its Triobet brand and CEO Ulrik Bengtsson called the TonyBet deal “a good strategic fit” for his company, in keeping with its ambition to “increase revenue from locally regulated markets.”

Macau government targets more local execs in its casino industry by 2020

The Macau government is setting an ambitious goal of having 85 percent of middle and upper-level management positions in the city’s casino industry be filled with local workers by 2020.

Macau presented the final version of the city’s first Five-Year Development Plan on Thursday, which includes social and economic aspirations for the city, and covers the period 2016 to 2020. The plan is different and separate from China’s national 13th Five-Year Plan.

GGRAsia reported that Macau is targeting to increase the number of local executives in the city’s casino by 85 percent in 2020. The former Portuguese enclave’s number of locals working in middle and upper level casino position stands at 81.9 percent in 2015.

According to government statistics, Macau’s overall population in the second quarter includes at least 28 percent foreign workers.

Title: Asia Live Tech Goes Global

Founded in 2011, Asia Live Tech [ALT] describes itself as an iGaming developer and solutions provider. Their goal is to be on every aspect of the iGaming spectrum, targeting aggregators, iGaming websites, agents, affiliates and shrewd entrepreneurs willing to take a slice of the market.

As business has been growing during the last few years and possibilities have been increasing accordingly, the company decided, despite its name, that Asia was not enough anymore. Numerous recruitments were done to support a newly defined expansion strategy.

“We are thrilled to tackle this challenge”, says Mr. Neph Vargas, ALT’s Online Marketing Manager and one of the people who freshly joined the firm. “A lot of freedom has been thrust upon us. My team and I make sure we are using every aspect of it to expand our services, using the best of our abilities. They are very diverse people, coming from three continents and providing us with their experience and knowledge. This is a must-have when you go global”.

To get an edge in this global and therefore very competitive iGaming industry, Asia Live Tech is putting confidence in their Asian experience, offering products with an Asian touch like their Live Dealer Casino products, featuring Asian dealers and games such as Sic Bo, Dragon Tiger, Xoc Dia or Fan-Tan. It does not stop here though. Slots are part of the menu and a sportsbook betting software system should arrive next year.

Applications for Macau casino smoking lounges pile up

The number of pending applications for smoking lounges in Macau’s casino market has piled up on the government’s desk.

Quoting a written reply of Health Bureau director Lei Chin Ion to Macau legislator Ella Lei Cheng I, GGRAsia reported that at least 73 smoking lounges are still waiting for Macau government to approve their application.

The letter, however, failed to mention which casinos had requested the government to approve their smoking lounges nor stated which casinos got the greenlight. What is clear is that there are a total of 86 smoking lounges that received a stamp of approval from the government – 83 of which were located  on main or ‘mass’ gaming floors; while the remaining three smoking lounges were situated in “areas restricted to certain gamblers.”

Two years ago, the government introduced a partial smoking ban that restricted smoking on casino main floors in the city state to the airport-style enclosed smoking lounges that do not have gaming tables or slot machines. Smoking cigarettes in VIP rooms are still allowed.

Applications for Macau casino smoking lounges pile up

The number of pending applications for smoking lounges in Macau’s casino market has piled up on the government’s desk.

Quoting a written reply of Health Bureau director Lei Chin Ion to Macau legislator Ella Lei Cheng I, GGRAsia reported that at least 73 smoking lounges are still waiting for Macau government to approve their application.

The letter, however, failed to mention which casinos had requested the government to approve their smoking lounges nor stated which casinos got the greenlight. What is clear is that there are a total of 86 smoking lounges that received a stamp of approval from the government – 83 of which were located  on main or ‘mass’ gaming floors; while the remaining three smoking lounges were situated in “areas restricted to certain gamblers.”

Two years ago, the government introduced a partial smoking ban that restricted smoking on casino main floors in the city state to the airport-style enclosed smoking lounges that do not have gaming tables or slot machines. Smoking cigarettes in VIP rooms are still allowed.