Monthly Archives: June 2017

Jamaica to “fast track” online gambling legislation, regulation

Jamaica’s finance minister says the island nation is forging ahead with plans to regulate online gambling to keep abreast with the changing pace of technology.

Last week, Jamaica’s Finance Minister Audley Shaw (pictured) gave the keynote address at the 7th Caribbean Gaming Show and Summit, which was hosted by the Betting Gaming and Lotteries Commission (BGLC) in Montego Bay.

Shaw announced that the BGLC was “in the process of drafting legislation establishing a licensing regime as well as regulatory supervision for operators of interactive gambling.” Shaw said the government had decided to “fast track” this legislation due to the rapid pace of technological change and “the need to facilitate the growth” of the local gambling industry.

Shaw also announced that the country’s three state gaming bodies – the BGLC and the racing and casino regulators – would be merged into a new all-powerful body called the Jamaica Gaming Commission (JGC). The merger is expected to be finalized by the end of 2017 and the online gambling regulations are expected to precede the merger. Until the merger, the BGLC will oversee online activity.

Yang Song skyrockets to the top of Main Event Day 1B

Macau, China, June 18, 2017 – Day 1B of the APT Main Event has been bagged and tagged!

After eight rounds of sixty minutes each, the final heat of the main concluded and what remained were 49 players out of the 74 that signed up. Finishing at the top of the heap was China’s Yang Song with 241,300 in chips. Yang skyrocketed to the leader’s seat midway through the last level after shipping in all of a player’s chips. While we didn’t see the action, we heard a loud “whoaaa” so we went to find out what happened.

Main Event Day 1B Chip Leader, Yang Song

According to another player at the table, Yang was on the button and raised to 2500 with blinds at 500-1000. The big blind player three-bet to 8500 and Yang called. On a rainbow flop of A-J-5, big blind bet 7500, Yang raised to 25k, and was called. On the turn was a rag card. Big blind checked to the aggressive Yang who fired out a 35k bet and big blind called. On the river, a 10 card dropped; big blind checked, Yang shoved, and bb called for all his chips. Yang showed his K-Q broadway straight and that’s when the “roar of shock” erupted.

Sporting Index Group acquires Touchbet

London, 19th June 2017 – Sporting Index Group has acquired Touchbet, an algorithmic sports trading and risk management business, for an undisclosed sum.

Touchbet, based in Sweden and Malta, operate in a complementary space to Sporting Solutions, the award-winning B2B arm of the Sporting Index Group.

The acquisition enhances Sporting Solutions’ existing Risk Management Services (RMS), whereby Sporting Solutions provides outsourced pricing and trading expertise to leading sportsbooks and manages their customer-generated liabilities.

Founded in 2006, Touchbet manages risk on an average betting volume of circa €4 billion per annum. All core systems are proprietary, adding to the Sporting Index Group’s ethos of building and owning all of its own technology.

Aspire Global plc intends to apply for listing on Nasdaq First North Premier in Stockholm

In order to support Aspire Global plc’s (”Aspire Global” or the ”Company”) continued growth and development, Aspire Global today announced its intention to apply for listing of the Company’s shares on Nasdaq First North Premier in Stockholm and to sell a combination of existing shares and newly issued shares of the Company (the “Offering”).

Aspire Global is a Business to Business (“B2B”) service provider for the online gaming market and offers its B2B partners a full-service solution for launching and operating online casinos. In addition to Aspire Global’s B2B service offering, the Company operates several proprietary casino brands, such as Karamba and Hopa. During 2016, 46% of the Company’s revenue was generated from regulated and/or taxed markets and Aspire Global’s adjusted revenue[1] amounted to EUR 60.2 million, adjusted EBITDA amounted to EUR 11.4 million, and adjusted EBITDA-margin amounted to 19%. During the three-month period ended 31 March 2017, Aspire Global’s adjusted revenue amounted to EUR 15.9 million, corresponding to a growth in adjusted revenue of 5%, adjusted EBITDA of EUR 2.7 million and adjusted EBITDA-margin of 17%.

The timing of the Offering is dependent on the completion of a number of administrative processes in the Company’s legal domicile, Malta, such as the affiliation of the Company’s shares with the central securities depositories Clearstream and Euroclear Sweden.

Background to the Offering

G2E Asia 2017 has record-breaking growth

G2E Asia 2017, the marketplace for the Asian gaming industry, held in Macau from May 16 to May 18, was the largest edition in the show’s history. Marking another year of setting new records across several key areas:

The show spanned 28,000 sqm of exhibition space – 27% increase over last year;

The total number of visitors increased 28% over last year – with close to 14,000 in attendance; and

The attendees included over 1,650 VIPs and top-quality buyers, producing a remarkable growth of 75% from 2016.

EEGEvents announces the dates for CEEGC 2017 Budapest, 2nd edition of a “bombastic” event

June 19, 2017 – Budapest – EEGEvents, the organizers of CEEGC Budapest have announce the official dates for the 2nd edition of the Central and Eastern European Gaming Conference and Awards which will be held between the 19th and 20th of September at the modern and luxurious Kempinski Hotel Corvinus Budapest.

The second edition of the yearly event has a new format and second day of networking and seminars have been added at the request of the delegates which have attended the inaugural event.

CEEGC 2016 was among the most talked about seminars of the CEE and Balkanic region, thus the organizers have set the motto for the 2017 edition. The current mottos is “Unfinished business: DARE TO ATTEND” and the event will gather +50 speakers during 2 days of networking and market updates.

The information which is scheduled to be shared is of vital importance for companies that are looking to expand or be updated about compliance and regulatory changes in the Eastern and Central European markets, as well from the Balkans region, which is currently witnessing some major changes. It is a must attend event for online gambling operators and all involved companies.

iGaming brings significant economic benefits to states, according to new study

June 18, 2017 (Washington, D.C.)  An economic report released today that examines the effects of interactive gaming on the state of New Jersey finds that the industry is generating tax revenue, adding jobs and spurring technological innovation, with little of the negative impact once anticipated by opponents.

In their paper “Economic Impact of New Jersey Online Gaming: Lessons Learned,” researchers Alan Meister, Ph.D. of Nathan Associates and Gene Johnson of Victor analyzed financial and sociological data accumulated since the 2013 passage of the law permitting online gaming in the United States.

Sponsored by the trade association iDEA (iDevelopment and Economic Association), the study finds that, from its inception through 2016, New Jersey iGaming has directly and indirectly generated a grand total of:

$998.3 million in output

FBI missed rigged jackpot in 2006 before lottery scheme grew

A 2006 inquiry by the FBI into a lottery won by Tiption, a Texas judge, failed to uncover a jackpot rigging conspiracy. A decade later, the inquiry stands out as a missed chance to stop a jackpot rigging scandal that would corrupt the $70 billion lottery industry for years while enriching a tiny group of insiders. The FBI didn’t uncover one fact that its informant knew but didn’t see as significant: that Tipton’s brother, Eddie Tipton, was a lottery industry employee.Insider Buzz, Scandal, Technology, Security, Computerized Drawings, Fraud, Crime

WSOP Review: Bach becomes first double winner; Raini studies and wins

In this short and sweet World Series of Poker review, David Bach becomes the first person to win multiple bracelets in 2017, and Gaurav Raini puts in the study time and comes up with a $2,500 No-Limit Hold’em bracelet win.

The moans and groans about the World Series of Poker (WSOP) Player of the Year (POY) formula will continue to spew forth after David Bach became the first player to win two 2017 bracelets, only good for a 14th place on the leaderboard.

Bach won the $1,500 Dealers Choice-Six Handed event earlier in the series for $119,399, and can now add another $383,208 to his bankroll, after taking down his second big buy-in mixed game title after winning the $50,000 Poker Player’s Championship (PPC) back in 2009.

As you would expect for a WSOP Championship event, the final table was crammed with quality. Daniel Negreanu came into the final with the chip lead but had to settle for a sixth place finish. It was the Canadian’s sixth cash of the summer, and his third final table. He now sits third in the WSOP POY table behind James Obst and Pablo Mariz.

Macau gaming tax revenue reached $4.64B in Jan-May 2017

Macau has enjoyed a robust gambling tax revenue for the first five months of the year, thanks to resurgence of its integrated resorts.

Gross gaming revenues of Macau integrated resorts have been surprising investment analysts for the past months, growing 15.8 percent to MOP106.38 billion (US$13.25 billion) during the January to May 2017 period.

The robust gaming revenue figure in the world’s premier gambling destination has trickled down to Macau government as it reported a 12.4 percent year-on-year increase in gaming taxes during the first five months of the year.

Data from Macau’s Financial Services Bureau show that the former Portuguese enclave raked in MOP37.12 billion (US$4.64 billion) worth of gaming taxes between January and May 2017, higher than the MOP33.03 billion collected in the same period of 2016.

NFL settles with kids’ charity over gambling policy lawsuit

The National Football League has found itself again in a conflicted position about casinos and gambling.

On Friday, USA Today Sports reported that the NFL—aka the ‘No Fun League’—has reached a settlement with a children’s charity that filed a lawsuit against the league last year.

A quick history: In 2015, more than 25 NFL players were scheduled to attend a charity bowling event organized by the Strike for Kids. The league, however, shut down the event because its location was at a 72-lane bowling alley inside the Sunset Station hotel and casino. An NFL lawyer told the charity that the event’s location violates the league’s gambling policy, which bars its players and personnel from engaging in “promotional activities or other appearances at or in connection with events that are held at or sponsored by casinos.”

This prompted the charity to file a lawsuit against the NFL for fraud, claiming that it had lost money and sponsors because the event had to be moved to a smaller venue. The charity also asked a federal judge to compel NFL Commissioner Roger Goodell to testify under oath about the inconsistencies in the league’s gambling policy.

New bill wants travelers to declare bitcoin before entering US

In the interest of providing better border protection, lawmakers in the United States are pushing for a new Congressional bill that will put government eyes on travelers’ money, particularly digital currency.

The proposal in question was the US Bill S.1241, introduced by Sen. Chuck Grassley and backed by a bi-partisan group of senators including Sen. John Cornyn, Sen. Diane Feinstein and Sen. Sheldon Whitehouse.

Cleverly titled as the “Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,” the bill seeks to make changes at the border crossings and other types of entry ways to the United States to prevent visitors from bringing in undeclared assets into the country.

The bill directs the Commissioner of the U.S. Customs and Border Protection and the Secretary of Homeland Security to develop strategies and systems that will identify and “interdict” cryptocurrency assets owned by travelers entering the country. Under the bill, these undeclared assets would have to be blocked so they won’t enter the U.S., and the two agencies would be required to submit a report “no later than 18 months after the date of enactment of this Act.”

The risks of segregated witness: Opening the door to mining cartels which could undermine the Bitcoin network

The bitcoin community continues to debate Segregated Witness, the Bitcoin Core development team’s proposed scaling solution which would separate signature data (witnesses) from transaction data. There are numerous risks with SegWit, but one in particular needs more attention: SegWit opens the door to methods of collusion and mining cartels which could undermine the bitcoin network.

Protections of the Current Bitcoin Protocol

To understand how SegWit opens this door, let’s review the format of the bitcoin protocol. The way that bitcoin works allows for a large miner who has managed to gain more than 51% of the network to engage in a form of attack based on double spending an existing transaction. This works in the following manner:

“Even if a bad guy does overpower the network, it’s not like he’s instantly rich. All he can accomplish is to take back money he himself spent, like bouncing a check. To exploit it, he would have to buy something from a merchant, wait till it ships, then overpower the network and try to take his money back. I don’t think he could make as much money trying to pull a carding scheme like that as he could by generating bitcoins. With a zombie farm that big, he could generate more bitcoins than everyone else combined.

Frank Schuengel: Gaming industry too lazy to innovate

In this interview with CalvinAyre.com’s Stephanie Raquel, iGaming Consultant Frank Schuengel explains why the industry needs to shake things up when it comes to their offerings

Loading the player…

jwplayer(‘camediasplayer-335990-2’).setup({

file: “http://30.cdn.bit2host.eu/videos/frank-schuengel-gaming-industry-lazy-innovate-video.m4v”,

Tiger Resorts kicks out Kazuo Okada from Okada Manila board

Japanese casino mogul Kazuo Okada has been shown the exit door of the Manila casino that bears his name as investigation into the supposed JPY2 billion (US$18.15 million) illegal fund outflows in Universal Entertainment Corp. drags on.

Okada, who had made a big bet in opening an integrated resort in Philippine Amusement and Gaming Corporation’s Entertainment City, may no longer see his integrated casino turn into profit after its Philippine subsidiary, Tiger Resort, Leisure and Entertainment, Inc. voted to kick him out of the chairman’s seat.

Justice Manuel Lazaro replaced Okada as the chairman of Tiger Resort, while Kenji Sugiyama was elected as the casino operator’s president. Mr. Antonio Cojuangco, Mr. Rey David and Mr. Steve Wolstenholme remain as Directors.

“As a consequence of the recent actions at Universal Entertainment Corporation (U.E.C), a special stockholders meeting of Tiger Resort, Leisure and Entertainment, Inc. (TRLEI) was convened followed by an organizational meeting of the board,” Okada Manila said in a statement.

Betsoft Gaming opens the doors of the MAGIC SHOPPE

Betsoft Gaming, creator of the award-winning Slots3™ collection of true 3D video slots, have announced the newest game release in that collection – MAGIC SHOPPE. This five reel, 25 payline 3D video slot offers many exciting features and a strongly developed theme that brings the arcane to life.

MAGIC SHOPPE is centered around an interesting foundational feature, the Celestial Boxes. Three or more Sun Box or Moon Box symbols, appearing anywhere on the reels, will trigger the Free Spins feature. Each Free Spin will result in either a guaranteed win or feature trigger. Additional free spins may be won during the Free Spins round, offering players many chances to win.

The Wild Wand feature in MAGIC SHOPPE will turn certain symbols – Sun Box, Moon Box, and Magic Wand – to Wilds, further increasing the probability of a big win. If three or more Magic Wand symbols appear anywhere on the reels, the feature will be triggered and all Celestial Boxes and Magic Wand symbols will turn Wild.

“We are very pleased to add MAGIC SHOPPE to our Slots3™ collection,” said Mark McKeown, Betsoft’s V.P. of Sales and Marketing. “The art style really brings you into the mysterious mood in the Shoppe, featuring glyphs and other arcane symbolism to enhance the theme. We especially love the free spins round that allows for a guaranteed win or feature trigger, every time. Little wins can add up to a lot, and we are confident that players will truly enjoy this game and all its unique functionality.”

3: Barrels: Kings party; Barcelona has Hart; Ivey Returns

3: Barrels of real value including King’s Casino partnering with partypoker for the German Poker Championships; Kevin Hart confirmed for the PokerStars Championship Barcelona, and Phil Ivey makes an appearance in Las Vegas.

Partypoker and Dusk Till Dawn (DTD) have shown the benefits that can emerge when a very successful online poker room jumps into bed with a very successful live card room.

King’s Casino has been paying attention.

The largest card room in Europe will celebrate their new Hotel & Casino expansion by hosting the German Poker Championships, and partypoker will partner with Leon Tsoukernik’s team to help give the event a little bump.

India’s privately run lotteries join 28% ‘luxury’ tax slab

No more zero tax for lottery tickets in India.

On Sunday, the constitutional body tasked with overseeing the goods and services tax (GST) system in the country announced a dual tax rate for lottery tickets just in time before the new indirect tax regime rolls out on July 1.

Union Finance Minister Arun Jaitley said the council decided that state-run lotteries, which do not have private distributors or marketing agents, would be charged a 12 percent GST rate, while lotteries operated by private distributors will fall under the highest tax slab of 28 percent.

The GST would be charged on the face value of the lottery tickets, not on the margin retained by the government or private distributors, said Jaitley.

WSOP review: First-time bracelets wins for online heroes Moorman & Obst

Two of the games most talented players have earned their first World Series of Poker bracelets after Chris Moorman took down a $3,000 No-Limit Hold’em event, and James Obst did likewise in the $10,000 Razz Championship.

Chris Moorman is arguably one of the most efficient No-Limit Hold’em players to traverse the online and live playgrounds, and he is now a PokerStars Championship away from a Triple Crown after winning his first World Series of Poker (WSOP) bracelet in Event #27: $3,000 No-Limit Hold’em 6-Handed.

It was the first British bracelet of the series and one that arrives after 20 WSOP cashes, four final tables, and two runner-up finishes. Moorman came into the final day fourth in chips, with fellow countryman Max Silver leading the way.

The last time this pair clashed in a WSOP Final Table was in the 2011 World Series of Poker Europe (WSOPE) Main Event, an event Moorman looked the likely champion before losing out to Elio Fox in heads-up; Silver finished eighth.