Gaming tech firm International Game Technology (IGT) posted a nine-figure loss in the first quarter of 2018 despite growth across all its business segments.

Figures released this week show IGT’s revenue rising 5% year-on-year to $1.2b in the three months ending March 31, while operating income shot up 65% to $197m. However, the company booked a $103m net loss for the quarter and its net debt rose by over $200m to $7.52b.

That said, $97m of its Q1 loss was due to unfavorable foreign exchange fluctuations, and those ever more forgiving ‘adjusted’ earnings — the ‘my mom says I’m handsome’ of the business world — grew 18% to $436m while adjusted operating income was up 6% to $251m.

IGT’s North America Gaming & Interactive division reported revenue falling 20% to $244m, primarily due to last year’s sale of the DoubleDown Interactive social gaming operation. Absent DoubleDown’s contribution to last year’s result, the division would have improved 3% year-on-year, thanks to product sales rising 26% to $89m.

Sweden’s gambling regulator has issued warnings to 39 digital media outlets to stop promoting international gambling sites.

On May 18, the Lotteriinspektionen regulatory body issued warning notices to 39 online media operators regarding their use of clickable ads that direct customers to lottery operators based outside Sweden. The warnings pointed out that such activity was prohibited under section 38 of the Lottery Act.

The official notice specifically cited lottery operations but local media outlet Breakit, which published the list of the 39 naughty names who are potentially facing the regulator’s wrath, suggested the companies being promoted were actually internationally licensed online gambling operators, which are among Swedish media’s most active advertising clients.

Last October, Sweden’s Supreme Administrative Court upheld the Lottery Act’s ban on unauthorized gambling adverts, and Lotteriinspektionen began issuing direct warnings to individual operators in December.

UK gambling operator Rank Group has burnished its continental presence by acquiring Spanish digital bingo and casino operator YoBingo.es.

On Tuesday, Rank’s board of directors announced that it had reached a deal to acquire the entire issued share capital of QSB Gaming Ltd, the parent company of YoBingo.es. The deal calls for Rank to make an upfront payment of €21m, with a potential total payout of €52m based on the Spanish operation’s future performance.

Rank says QSB and its subsidiaries generated revenue and earnings of €10.4m and €2.5m, respectively, in the 12 months ending December 31, 2017. Newly appointed Rank CEO John O’Reilly said the deal would expand on his company’s established Spanish retail business Enracha, which soft-launched its digital operations in September 2017.

Rank has made multi-channel part of its new overall strategy and the company believes YoBingo will accelerate this strategy in Spain. In addition to being Spain’s number-two online bingo operator with a 30% market share, YoBingo also holds a 5% share of Spain’s online slots market and boasts a proprietary platform “with strong potential to support other regulated markets.”

British bookmaker Betfred has begun its plans to divest its interest in the Tote racing brand after striking a £130 million ($174.7 million) deal with a consortium of racing industry juggernauts.

Sky News reported that Alizeti Capital, led by former Merrill Lynch trader Alex Frost, made an upfront payment of £20 million ($26.88 million) to Betfred for a minority stake in the Tote several days after the UK government imposed sweeping reforms in its gambling policy.

Betfred and Alizeti had been talking about the deal for several months now, with much of the discussions centering on valuing the Tote for £130 million ($174.7 million). Under the agreement, Alizeti was given an option to increase its investment in a span of five years to complete a full takeover.

A source familiar with the deal told the news outlet that Frost convinced a group of investors to contribute and raise £65 million ($87.36 million) in return for a 65 percent stake. The investors were reportedly known figures in the horse racing industry.

Las Vegas casino operators are facing a moment of truth as their unionized workers vote on whether to go on strike.

The Las Vegas Review-Journal reported that casino operators are bracing for a “work stoppage” scenario after talks concerning the employees’ wages and benefits, which started last February, broke down.

With their contracts expiring on June 1, members of the Culinary Workers Union Local 226 and Bartenders Union Local 165 are trying to cut a favorable deal with their employers. They are reportedly demanding higher wages, protection from layoffs caused by new technology, greater workplace safety measures, and protection for immigrants with temporary status.

Union spokesperson Bethany Khan said workers will cast their votes Tuesday from 10 a.m. to 12 p.m. and from 6 p.m. to 8 p.m. at the Thomas and Mack Center. Results will be known late Tuesday, according to Khan.

May 22nd 2018 – ORYX Gaming has secured all required Romanian certificates, licenses and approvals to offer its iGaming platform and content to Romanian operators.

The ORYX iGaming Platform is an omni-channel and cross-product platform that enables operators to manage their entire product suite using one shared account and one wallet for casino, lottery, sportsbook, bingo, poker and other operations. It features cutting edge player management, payments, finance and fraud management functionalities, automated campaign, promotion, bonus and wagering management functionalities, as well as sophisticated reporting BI, CRM, OTC, SSBT and cross-channel content management systems.

The obtained license will also allow ORYX to roll out its Aggregator content, including some of the well-established content providers, such as EGT, Amatic, ISoftBet and Kiron alongside with Gamomat, Kalamba, few other newcomers and other providers that add up to complete a portfolio of over 5,000 aggregated games.

The ORYX iGaming Platform is already fully compliant with major regulated gaming jurisdictions and has been certified for, licensed or approved in Malta, Schleswig Holstein/Germany, Croatia, Slovenia, Czech Republic, Paraguay, Colombia, Estonia, Serbia and Argentina.

Chinese casino mogul Lawrence Ho has ditched the cold (not to mention expensive) Primorye region to gamble the fate of Melco Resorts & Entertainment in the land of the rising sun.

Nikkei Asian Review reported that Ho has given up his control of the Hong Kong-listed Summit Ascent Holdings Ltd., the company that runs Tigre de Cristal casino resort in Russia’s Far East, to boost Melco’s chances to acquire a casino license in Japan.

Ho admitted that the allure of Japan’s casino market potential was a major factor that made him decide to divest all his 391 million shares in Summit Ascent in 2017. Ho’s shares at the end of 2016, which represent 27.06 percent in direct holdings at the time, now has a price tag of HKD363.6 million (US$46.32 million).

“Rarely do you find a first-world country like Japan with the infrastructure, tech and people already in place, yet the potential still so big,” the Melco boss said, according to the news outlet.

The first-ever Tri-State poker festival, Coast to Coast, saw players create the largest prize pool in an online tournament since regulation, and Jerry Monroe wins his third gold ring at Harrah’s New Orleans.

The World Series of Poker (WSOP) is around the corner, freshly shaven, ready to be poked and prodded by hundreds of thousands of people. She will look snazzy for sure. Dressed to the nines, flashing a leg as she steps out of the car, spike crunching deep into the red carpet.

Then again, it seems the WSOP is at every corner.

World Series of Poker Europe (WSOPE)