Monthly Archives: July 2017

Patrick Lavecchia Leads WSOP Main Event as Money Bubble Bursts on Day 3, Little One for One Drop Raises Nearly $500K for Charity

In addition to Day 3 of the $10,000 buy-in Main Event, the 2017 World Series of Poker (WSOP) offered its last starting flight for a gold bracelet event on Thursday. […]

The post Patrick Lavecchia Leads WSOP Main Event as Money Bubble Bursts on Day 3, Little One for One Drop Raises Nearly $500K for Charity appeared first on .

Play2Win is Colombia’s first blocked online gambling operator

As promised/threatened, Colombia has begun blocking international online gambling sites not holding a local license.

Last October, Colombia became the first South American jurisdiction to approve national online gambling legislation, which was followed in March by the release of a list of 325 online gambling domains the country’s Coljuegos gaming regulator deemed to be serving Colombian punters without local approval.

This week, Finance Minister Mauricio Cárdenas used his personal Twitter account to announce that his ministry had instructed Coljuegos “to block cheating pages and betting evaders like play2wincasino.”

The Curacao-licensed Play2win’s domain is reportedly no longer accessible by users of TigoUne, the dominant local internet service provider. The country’s other ISPs are expected to follow suit in short order.

Galaxy Gaming withdraws bid for Nevada gaming license

Deciding to evade a potential major regulatory hurdle, Galaxy Gaming Inc. has opted to take back its application for a license to develop and distribute new games in Nevada.

On Thursday, the Las Vegas Review-Journal reported that the Nevada Gaming Control Board agreed to refer Galaxy Gaming’s licensing request back to the company.

Galaxy Gaming, which develops, manufactures and distributes casino table games and enhanced casino systems, is due to appear before the Nevada Gaming Commission on July 27, when the panel is set to decide whether to issue a license that “would enable Galaxy to develop and distribute new games in Nevada,” according to the report.

The commission has the option whether to concur with the board, overturn its decision or make it “the first case ever to be subject to a new law that enables the commission to reject but not deny licensing,” which, according to the news outlet, means that Galaxy Gaming may continue to operate in the state but will be unable to roll out new games.

Charges dropped against Calvin Ayre, Bodog and friends

US federal prosecutors have dropped all charges filed over five years ago against Calvin Ayre and the Bodog online gambling business.

In February 2012, the US Attorney for the District of Maryland indicted Bodog, Calvin Ayre and three other individuals on charges of illegal gambling and money laundering conspiracy. The indictment accused Bodog of offering gambling services to US customers between June 2006 and January 2012.

According to the Department of Justice, Bodog and the charged individuals were responsible for more than $100m in gambling proceeds being transmitted to customers in the United States. The original charges exposed the individuals to 25 years in prison and $1m in fines.

Neither the company nor the individuals ever appeared in court on the case, which remained dormant for more than five years. On July 14th, Chief Judge Catherine Blake of the United States District Court for the District of Maryland accepted a resolution that dismissed all of the felony charges against Calvin Ayre and Bodog. All of the charges against the other individuals were dismissed separately a short time ago.

Swiss private bank Falcon enters bitcoin market

A boutique investment firm in Switzerland has begun offering to buy bitcoins for its wealthy clients.

Zurich-based Falcon Private Bank recently partnered with cryptocurrency broker Bitcoin Suisse and rolled out a blockchain asset management service. The product is approved by the state regulator Swiss Financial Market Supervisory Authority (FINMA), according to the company.

The service allows customers to exchange and hold bitcoins via Falcon using their cash holdings. The firm has also installed a bitcoin ATM in its headquarters, which the public can access during business hours.

“We are proud to be the first-mover in the Swiss private banking area to provide blockchain asset management for our clients,” Arthur Vayloyan, Falcon’s global head of products and services, said in a statement. “Falcon is convinced that the time is right to enter this nascent market and it is our firm belief that this new product will fulfil our clients’ future needs.”

Minister suggests bringing Goa’s floating casinos to land

As River Mandovi’s floating casinos continue to search for an alternate waterway, a Goa minister has put forward an idea: Why not bring them to land?

Town and Country Planning Minister Vijai Sardesai is pushing to shift the casino vessels in the state to be shifted to a suitable location on land. Sardesai, who is also the president of the Goa Forward Party, was quoted by the Times of India as saying, “We want to remove all casinos from the river and I am personally pushing to move them from there to land.”

The state government announced several weeks ago that it has extended the deadline for the casinos to wrap up their operations on the Mandovi river to September 30. The new deadline matches an earlier promise the government made to the casino operators—Delta Corp, Goa Coastal Resorts and Recreation, Highstreet Cruises and Entertainment, Golden Peace Infrastructure and Delta Pleasure Cruise Company—immediately following the recently held elections.

The Goa bench of the Bombay High Court also allowed Golden Globe Hotels Pvt. Ltd. to launch MV Lucky Seven on the river—a move that Sardesai opposed.

Wanted: Calata seeks financier for Cebu casino project

Money remains elusive for the proposed integrated resort in Mactan island, Cebu as Philippine-listed Calata Corp. announced that it has yet to raise funds for the casino project south of Manila.

Calata, which seeks to diversify its business from agricultural products to real estate, told the Philippine Stock Exchange in Thursday’s filing that the potential investor in the casino project has yet to raise sufficient funds to complete its financial commitment.

US-based management consultancy RickWise Global Capital Group has earlier been tapped by Calata to undertake business activities such as introductions to investor sources, service partners, and generally provide strategic and risk management advice.

The Philippine-listed company said RickWise informed the company that it is still needs more time to raise funds for the project. It would be recalled that the management consultancy company was in talks with Sino-America Gaming Investment Group LLC and Macau but it broke down earlier this year due to the perceived political uncertainty.

Resorts World Casino starts $400M New York expansion plan

Malaysia-listed conglomerate Genting BHD has given the US market a vote of confidence as it starts its expansion plans in New York.

Genting has broken the ground on the $400 million expansion of Resorts World Casinos in New York (RWNY), six years after the casino operator opened its integrated resort in the Big Apple.

Scott Molina, the president of RWNY, said the expansion will bring out the potential of its gaming facility, especially since the property does not currently offer hotel accomodation. The company targets to complete the expansion plan in mid-2019.

The expansion project, according to Molina, includes the construction of a new 400-room four-star hotel with five-star suites that will rival Manhattan’s finest accommodations; a 2,000-sq.ft. spa and resort; another 140,000 sq.ft. of convention and meeting space; plus additional room for retail, food, and casino expansion.

Cambodia places $16.6M additional tax burden on NagaCorp’s shoulders

The Cambodian government has handed the country’s top casino operator NagaCorp. an additional $16.6 million tax bill on its non-gaming operations.

According to Phonm Penhn Post, the Cambodian government came up with the hefty tax burden after it conducted its first-ever audit of the iconic Phnom Penh hotel and casino complex. The tax obligation was reportedly similar to the one that the government imposed on the casino operator last year.

The announcement from the Cambodian government comes just days after NagaCorp reported that it posted a $150.6 million net profit in the first six months of the year due to robust growth across all of its business segments.

Though the final number is still subject to negotiation, Ministry of Economy and Finance (MEF)  deputy director-general for finance industry department Ros Phirun pointed out that the annual bill of NagaWorld in non-gaming revenue taxes starting this year is $16.6 million.

iGaming Super Show 2017 day 2 recap

After a successful Day One, Day Two of the iGaming Super Show 2017 was also a hit with a consistently packed expo floor from opening to close.  Today’s format was similar to yesterday’s with four separate conference tracks running as delegates explored the booths, enjoyed networking drinks and additional delights across the expo floor.

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Drew Brees the betting favorite on 2017 NFL passing yards prop

Only two quarterbacks have been able to equal or surpass the passing yardage of New Orleans Saints quarterback Drew Brees over the previous seven seasons.

Odds courtesy of OddsShark.com

One of them set the all-time record for passing yards in a season (Peyton Manning of the Denver Broncos in 2013). The other one (Ben Roethlisberger of the Pittsburgh Steelers in 2014) tied Brees with 4,952 yards that year and appears to be a good value play this season. Brees is the +300 favorite to win the passing yards title in 2017.

Last year, the 38-year-old veteran threw for the second-most passing yards in his career, totaling 5,208 to go along with 37 touchdowns and 15 interceptions. The only better campaign he had came in 2011 when he threw for a then-NFL record 5,476 yards with a career-high 46 touchdowns and 14 picks. Manning later broke the mark with 5,477 two years later when he also tossed the most touchdowns in a season (55).