New York State is getting ready to resume its legislative push to regulate online poker, according to Gambling Compliance (GC). Assemblyman Gary Pretlow (D-89th) told the site this week that […]
The post New York State Readies Online Poker Bill, Assemblyman Gary Pretlow Behind Push Once More appeared first on .
New York State is getting ready to resume its legislative push to regulate online poker, according to Gambling Compliance (GC). Assemblyman Gary Pretlow (D-89th) told the site this week that […]
The post New York State Readies Online Poker Bill, Assemblyman Gary Pretlow Behind Push Once More appeared first on .
New York State is getting ready to resume its legislative push to regulate online poker, according to Gambling Compliance (GC). Assemblyman Gary Pretlow (D-89th) told the site this week that […]
The post New York State Readies Online Poker Bill, Assemblyman Gary Pretlow Behind Push Once More appeared first on .
Since its inception, the Mid-States Poker Tour (MSPT) Player of the Year race has always come down to the year-end finale at Canterbury Park. In Season 7, Rich Alsup needed […]
The post Rich Alsup Talks About Winning MSPT Player of the Year for 2016: CardsChat Exclusive appeared first on .
Since its inception, the Mid-States Poker Tour (MSPT) Player of the Year race has always come down to the year-end finale at Canterbury Park. In Season 7, Rich Alsup needed […]
The post Rich Alsup Talks About Winning MSPT Player of the Year for 2016: CardsChat Exclusive appeared first on .
Since its inception, the Mid-States Poker Tour (MSPT) Player of the Year race has always come down to the year-end finale at Canterbury Park. In Season 7, Rich Alsup needed […]
The post Rich Alsup Talks About Winning MSPT Player of the Year for 2016: CardsChat Exclusive appeared first on .
China’s lottery sales enjoyed a healthy boost in 2016 as the Euro 2016 football tournament helped offset the ongoing online lottery prohibition.
Figures released Monday by China’s Ministry of Finance showed overall lottery sales of RMB 394.6b (US $57.8b) in 2016, representing a year-on-year improvement of 7.3%. That marks a rebound from 2015, during which lottery sales fell 3.8%.
While the welfare lottery remains China’s top earner at RMB 206.5b, the welfare lottery’s 2.5% year-on-year rise was dwarfed by the sports lottery’s 13.1% gain to RMB 188.1b, the latter figure reflecting the hubbub over last summer’s Euro 2016 footie fest.
That said, the disparity was similar for December’s monthly results, in which the sports lottery gained 11.4% to RMB 16.6b while the welfare lottery rose a comparatively modest 4% to RMB 20b. Overall sales in December were up 7.2%.
China’s lottery sales enjoyed a healthy boost in 2016 as the Euro 2016 football tournament helped offset the ongoing online lottery prohibition.
Figures released Monday by China’s Ministry of Finance showed overall lottery sales of RMB 394.6b (US $57.8b) in 2016, representing a year-on-year improvement of 7.3%. That marks a rebound from 2015, during which lottery sales fell 3.8%.
While the welfare lottery remains China’s top earner at RMB 206.5b, the welfare lottery’s 2.5% year-on-year rise was dwarfed by the sports lottery’s 13.1% gain to RMB 188.1b, the latter figure reflecting the hubbub over last summer’s Euro 2016 footie fest.
That said, the disparity was similar for December’s monthly results, in which the sports lottery gained 11.4% to RMB 16.6b while the welfare lottery rose a comparatively modest 4% to RMB 20b. Overall sales in December were up 7.2%.
UK-listed gambling operator Paddy Power Betfair (PPB) says the tiny hands of US President Donald Trump made a dent in its Q4 earnings.
In a 2016 trading update issued on Monday, PPB said it expects its full-year 2016 revenue to rise 18% to £1.55b (+11% in constant currency terms), while earnings will come in between £390m to £405m, in keeping with previous forecasts.
The numbers were up despite a challenging November and December, during which sportsbook stakes rose 28% while revenue gained only 12% (-1% in constant currency) due to “customer-friendly” sporting results.
The unfavorable sports results cost the company around £40m in Q4, and nearly £5m of that shortfall came via Trump’s surprise election in November after PPB had already paid out early to bettors who backed Trump’s rival Hillary Clinton to take up residence in the Oval Office. The company said it partially offset this decline via “lower than expected marketing and staff costs.”
More than half of the 1,316 undocumented Chinese workers has apparently evaded arrest when operatives from the Philippines’ Bureau of Immigration (BI) swooped down on Jack Lam’s Fontana Leisure Parks and Casino in Clark, Pampanga in November 2016.
This was the revelation of no-less than Philippines Department of Justice Secretary Vitaliano Aguirre II during Monday’s Senate Blue-Ribbon Committee hearing on the bribery scandal involving BI officials.
GMA News Online reported that Aguirre’s claim was in contrast to the statement of Immigration Commissioner Jaime Morente, who said that “All those arrested were… on site.”
“There were at least 800 undocumented Chinese workers have evaded the arrest. The coffee shops, McDonalds, and hotel in Clark are teeming with undocumented Chinese workers. It was during the early hours of the raid when these workers escaped from being arrested,” Aguirre said in Filipino.
More than half of the 1,316 undocumented Chinese workers has apparently evaded arrest when operatives from the Philippines’ Bureau of Immigration (BI) swooped down on Jack Lam’s Fontana Leisure Parks and Casino in Clark, Pampanga in November 2016.
This was the revelation of no-less than Philippines Department of Justice Secretary Vitaliano Aguirre II during Monday’s Senate Blue-Ribbon Committee hearing on the bribery scandal involving BI officials.
GMA News Online reported that Aguirre’s claim was in contrast to the statement of Immigration Commissioner Jaime Morente, who said that “All those arrested were… on site.”
“There were at least 800 undocumented Chinese workers have evaded the arrest. The coffee shops, McDonalds, and hotel in Clark are teeming with undocumented Chinese workers. It was during the early hours of the raid when these workers escaped from being arrested,” Aguirre said in Filipino.
Paradise City, which is set to open in April, will fuel South Korean casino operator Paradise Co. Ltd.’s revenue in 2017, according to Seoul-based brokerage Shinhan Investment Corp.
In a note it issued on Thursday, Shinhan predicted that Paradise Co.’s revenue may grow by as much 35.3 percent this year. Analyst June-won Sung’s optimism on Paradise Co. is driven by the opening of Paradise City slated in April.
“Paradise Co as a whole is forecast to post sales of KRW938.6 billion [US$805.3 million] in 2017,” Shinhan, a subsidiary of Shinhan Financial Group Co Ltd that provides security brokerage and investment banking services in South Korea, said.
Paradise Co., the country’s largest foreigners-only casino operator, has swung back to profitability last year after it hit KRW 603.1b (US $509m) in the 12 months ending December 31, 2016. The figure is 6.2% higher than 2015’s total, which was down 14.7% from 2014.
Chinese traders who have enjoyed a zero-fee trading ecosystem for far too long are in for a shock as three of China’s largest bitcoin exchanges are now planning to charge trading fees.
Part of the reason why bitcoin exchanges in China have been successful in the past several years was because they don’t impose penalty for buying and selling digital currency in high volumes every day. But that situation is about to end soon.
In an effort to rein in speculation over cryptocurrency trading, bitcoin exchanges BTC China, Huobi and OKCoin are now planning to charge 0.2 percent per transaction starting at noon Tuesday, Wall Street Journal reported.
“We’ve already conducted ‘deleveraging.’ To further curb speculation and reduce volatility, Huobi is also actively communicating with other domestic and foreign exchanges to improve operational mechanisms and charging mechanisms, among which trading fees are also being considered,” Huobi said on its website.
Underlying EBITDA in line with guidance despite adverse sports results
Ahead of its preliminary results on 7 March, Paddy Power Betfair plc (the “Group”) today announces a post close trading update for the three month period ended 31 December 2016 (“Q4 2016”) and the year ended 31 December 2016 (“FY2016”)¹.
Group revenue in FY2016 was up 18% year on year (+11% in constant currency, “CC”²) to £1,551m. We expect full-year Group underlying EBITDA3 to be around the mid-point of the previously guided range of £390m to £405m, notwithstanding worse than expected gross win margins in November and December.
Since our Q3 trading update, the Group continued to see good sportsbook staking growth but results favoured customers. This started with the unexpected US election outcome, which cost the Group almost £5m, and concluded with our European sportsbooks losing money on football bets in the month of December. We estimate that the impact on Group revenue from the customer friendly results, before any benefit from the re-cycling of winnings, was approximately £40m in the quarter. The impact on profitability of these results was partially offset by lower than expected marketing and staff costs.
Underlying EBITDA in line with guidance despite adverse sports results
Ahead of its preliminary results on 7 March, Paddy Power Betfair plc (the “Group”) today announces a post close trading update for the three month period ended 31 December 2016 (“Q4 2016”) and the year ended 31 December 2016 (“FY2016”)¹.
Group revenue in FY2016 was up 18% year on year (+11% in constant currency, “CC”²) to £1,551m. We expect full-year Group underlying EBITDA3 to be around the mid-point of the previously guided range of £390m to £405m, notwithstanding worse than expected gross win margins in November and December.
Since our Q3 trading update, the Group continued to see good sportsbook staking growth but results favoured customers. This started with the unexpected US election outcome, which cost the Group almost £5m, and concluded with our European sportsbooks losing money on football bets in the month of December. We estimate that the impact on Group revenue from the customer friendly results, before any benefit from the re-cycling of winnings, was approximately £40m in the quarter. The impact on profitability of these results was partially offset by lower than expected marketing and staff costs.
Underlying EBITDA in line with guidance despite adverse sports results
Ahead of its preliminary results on 7 March, Paddy Power Betfair plc (the “Group”) today announces a post close trading update for the three month period ended 31 December 2016 (“Q4 2016”) and the year ended 31 December 2016 (“FY2016”)¹.
Group revenue in FY2016 was up 18% year on year (+11% in constant currency, “CC”²) to £1,551m. We expect full-year Group underlying EBITDA3 to be around the mid-point of the previously guided range of £390m to £405m, notwithstanding worse than expected gross win margins in November and December.
Since our Q3 trading update, the Group continued to see good sportsbook staking growth but results favoured customers. This started with the unexpected US election outcome, which cost the Group almost £5m, and concluded with our European sportsbooks losing money on football bets in the month of December. We estimate that the impact on Group revenue from the customer friendly results, before any benefit from the re-cycling of winnings, was approximately £40m in the quarter. The impact on profitability of these results was partially offset by lower than expected marketing and staff costs.
Underlying EBITDA in line with guidance despite adverse sports results
Ahead of its preliminary results on 7 March, Paddy Power Betfair plc (the “Group”) today announces a post close trading update for the three month period ended 31 December 2016 (“Q4 2016”) and the year ended 31 December 2016 (“FY2016”)¹.
Group revenue in FY2016 was up 18% year on year (+11% in constant currency, “CC”²) to £1,551m. We expect full-year Group underlying EBITDA3 to be around the mid-point of the previously guided range of £390m to £405m, notwithstanding worse than expected gross win margins in November and December.
Since our Q3 trading update, the Group continued to see good sportsbook staking growth but results favoured customers. This started with the unexpected US election outcome, which cost the Group almost £5m, and concluded with our European sportsbooks losing money on football bets in the month of December. We estimate that the impact on Group revenue from the customer friendly results, before any benefit from the re-cycling of winnings, was approximately £40m in the quarter. The impact on profitability of these results was partially offset by lower than expected marketing and staff costs.
Russia is reportedly mulling an increase in the gaming device tax paid by casinos in the country, according to brokerage Union Gaming Securities Asia Ltd.
Currently, there is no formal GGR tax in the country, but the Russian government requires casinos to pay a monthly device tax for each table game and slot machine that they have in operation. Licensees in Primorye pay RUB125,000 (USD2,101) per table monthly and RUB7,500 (USD126) per slot machine for one month, according to Union Gaming.
Russian media outlets have reported that the government has drafted an amendment seeking to establish a band of RUB50,000 to RUB250,000 (USD840-USD4,202) per table per month and RUB3,000 to RUB15,000 (USD50.43-USD252.13) for each slot machine.
“There are media reports out today suggesting a potential increase in the gaming device tax paid by casinos in Russia,” Union Gaming analyst Grant Govertsen said in a note. “This is a result of proposed draft amendments to the existing gaming law at a national level.”
Russia is reportedly mulling an increase in the gaming device tax paid by casinos in the country, according to brokerage Union Gaming Securities Asia Ltd.
Currently, there is no formal GGR tax in the country, but the Russian government requires casinos to pay a monthly device tax for each table game and slot machine that they have in operation. Licensees in Primorye pay RUB125,000 (USD2,101) per table monthly and RUB7,500 (USD126) per slot machine for one month, according to Union Gaming.
Russian media outlets have reported that the government has drafted an amendment seeking to establish a band of RUB50,000 to RUB250,000 (USD840-USD4,202) per table per month and RUB3,000 to RUB15,000 (USD50.43-USD252.13) for each slot machine.
“There are media reports out today suggesting a potential increase in the gaming device tax paid by casinos in Russia,” Union Gaming analyst Grant Govertsen said in a note. “This is a result of proposed draft amendments to the existing gaming law at a national level.”
Russia is reportedly mulling an increase in the gaming device tax paid by casinos in the country, according to brokerage Union Gaming Securities Asia Ltd.
Currently, there is no formal GGR tax in the country, but the Russian government requires casinos to pay a monthly device tax for each table game and slot machine that they have in operation. Licensees in Primorye pay RUB125,000 (USD2,101) per table monthly and RUB7,500 (USD126) per slot machine for one month, according to Union Gaming.
Russian media outlets have reported that the government has drafted an amendment seeking to establish a band of RUB50,000 to RUB250,000 (USD840-USD4,202) per table per month and RUB3,000 to RUB15,000 (USD50.43-USD252.13) for each slot machine.
“There are media reports out today suggesting a potential increase in the gaming device tax paid by casinos in Russia,” Union Gaming analyst Grant Govertsen said in a note. “This is a result of proposed draft amendments to the existing gaming law at a national level.”