The Australian division of UK online sports betting operator Bet365 has posted its first ever annual profit, although just barely.

On Monday, Bet365 Australia filed papers with the Australian Securities and Investments Commission showing that it eked out a pre-tax profit of A$1.2m (US $960k) in the 12 months ending March 26. However modest, it’s infinitely preferable to the net losses of A$10.9m and A$41m the company reported in fiscal 2015 and 2014, respectively.

Bet365 Australia’s online betting revenue totaled A$101.4m in the past fiscal year, 5% better than the previous year, albeit barely one-fifth of the revenue generated by the down under operations of UK rival Paddy Power Betfair. Bet365’s Australian turnover topped A$2.5b, equal to around 17% of the country’s online wagering market.

The site’s growth came despite holding the line on marketing costs at A$24m, while “levy expenses” paid to racing and sporting bodies decreased by about A$1m to A$25m. Customer accounts continued to grow in number year-on-year, leading management to conclude that “the company will remain profitable” and directors are “committed to maintaining the present level of operations to support that aim.”

Macau casinos have now grown their gaming revenue for 12 consecutive months, as VIP gamblers continue to migrate back to their traditional home.

Figures released Tuesday by Macau’s Gaming Inspection and Coordination Bureau (DICJ) show July’s gaming revenue hitting MOP 23b (US $2.86b), a 29% gain over the same month last year, nearly 15% higher than June’s result and the biggest year-on-year monthly gain since February 2014.

July’s positive result also marks one full year since Macau began its upward trajectory following over two years of consecutive monthly gaming revenue declines. For the year-to-date, Macau’s gaming revenue is up nearly 19% to MOP 149.3b.

Much of Macau’s gain can be credited to the return of VIP gamblers, whose increasing confidence in both (a) spending money in Macau and (b) being seen spending money in Macau has been on ample display in the recent quarterly reports of Macau casino operators.

Come September/October, Amaya should be a good buy again. The stock languished after former CEO David Baazov’s failed attempt to take it private, but has recovered since March as Hong Kong investor Hao Tang has stepped in the breach and picked up even more shares than Baazov liquidated at the beginning of the year. Since Hao Tang’s buying spree began in March, Amaya shares have risen. 22%. Baazov sold 19 million shares as his grip on the company basically fell apart and the board basically prevented him from taking the company private. Hao Tang now owns 22.7 million shares, about a 15% stake in the company.

Hao Tang was part of Baazov’s initial efforts to buy out Amaya, and now that that effort has failed, it looks like the Goldenway Group executive may be taking matters into his own hands. There are only three possible reasons for large positions to be accumulated in this way. One is that it’s a long term dividend income play, but Amaya doesn’t pay a dividend so nothing doing there. Two is it’s a long term positioning strategy where an activist buyer believes the company can undergo fundamental change (aided by his influence) and eventually trade in a completely different and higher range at which point he can start scaling out without risking profits. Three is the buyer is looking to take the company private himself.

I tend to believe the second option is more likely than the third. Goldenway trying to take the company private by itself doesn’t seem to be worth the trouble. The Amaya board has proven that it does not want the company to be taken private and that there are consequences for those who try. Unless Goldenway keeps buying more, it doesn’t look likely that it will be able to accomplish what Baazov couldn’t. It is now the second biggest stakeholder behind Caledonia Investments, which holds 28.4 million shares according to Yahoo. Whether Goldenway stops here and is satisfied with its 15% stake or whether it keeps buying and tries to take Amaya private again, either way it’s a good sign for the stock over the next four years…until debt payments become an issue at who knows what rates.

Speaking of rates, a short aside. In an interview with Bloomberg released today, former Federal Reserve Chairman Alan Greenspan sounded the alarm on interest rates, an alarm I’ve been sounding for too long already, I know. Says Greenspan, “When they move higher they are likely to move reasonably fast. We are experiencing a bubble, not in stock prices but in bond prices.” I admit I sound like a broken record on this, but it will happen, and when it does it won’t be pretty for highly leveraged companies. I continue to believe the bond bubble will pop when price inflation climbs above 5%, and this is almost exactly what Greenspan said today, in so many words. From Bloomberg:

PokerStars have held another monster after the $22 buy-in MicroMillions Main Event attracted a $1.7m prize pool, and the acclaimed DJ and producer Zedd will play a 90-minute set at the PokerStars Championship Barcelona Player’s Party.

For 13 years, the PokerStars’ MicroMillions tournament has given people like me a reason to believe that I’m capable of winning some life changing cash, and showing my partner that it really is worth allowing me a few hours on a Sunday to play some online poker.

It’s worth remembering that it took PokerStars 13-years of patient storytelling to create a $22 buy-in event that can pull in over $1.7m in prize money, and for the five players who carved out a happy ending, it was worth the wait.

ElCheikhh from the Netherlands, hahahasucker from Canada, korasidas77 from Greece, BIERB4UCH from Germany, and kate_kok$ from Russia settled on a five-way split, with the Grecian walking away with a tad more prize money thanks to a history that has seen him pick up big scores in the Sunday Million and Spring Championship of Online Poker (SCOOP).

This is a guest contribution by Brian Saady. If you would like to submit a contribution please contact Bill Beatty for submission details. Thank you.

The ultimate “insider” in the world of sports betting, Billy Walters, was sentenced last week to five years in prison for leading an insider trading scheme. Understandably, this was a well-publicized case because Walters had received nonpublic information from a board member of Dean Foods. Walters also passed some of this information along to his personal friend, Phil Mickelson, who profited over $1 million from these tips.

However, by not pinning gambling charges on Billy Walters, this was a seemingly a bittersweet victory for some government officials. State and federal officials have tried to lock up Billy Walters for decades.

After a misdemeanor bookmaking conviction in 1982, he’s been indicted four times in high-profile gambling cases and beat the charges each time. Needless to say, those results have been embarrassing for the law enforcement community.

Gaming, Racing and Wagering Australia (GRWA)

The 8th annual Gaming, Racing and Wagering Australia (GRWA) will take place in Sydney’s Darling Harbour and bring together over 150 of Australia’s sports betting, lottery and racing executives.  Attendees can expect to learn about the latest issues impacting the industry including regulations, disruptive technologies and strategies for staying on top in a crowded market.

New this year GRWA will feature a practical workshop with a focus on eSports and mobile gaming and how to acquire, retain and engage players through these channels.

What: GRWA