Everyone appears to have underestimated the revenue strength of Stockholm-listed online gambling operator Cherry AB in the first quarter of 2018, even those within the company.

In April, Cherry AB made a bold forecast that its revenue will expand by as much 24.8 percent to SEK675 million (US$75.87 million) in the first three months of the year. However, the latest figures from Cherry showed that the company managed to beat its own forecast as its revenue jumped 26 percent to SEK681 million (US$76.55 million) from SEK541 million ($60.81 million) in the same period last year.

The results were also way above financial analysts’ expectations of an average 20 percent growth.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at SEK192 ($21.58 million), up more than double than the SEK89 million ($9.33 million) during the prior-year period.

A game of musical chairs—executive style—has commenced at U.S. gaming technology provider Scientific Games Corp., after the company posted a modest revenue gain in the first three months of 2018.

In a regulatory filing, Sci Games announced the appointment of Scientific Games Interactive CEO Barry Cottle as the company’s newest president and CEO, effective June 1, 2018. Cottle is set to replace Kevin Sheehan, who will remain with the company as a senior advisor after stepping down from his post.

Aside from Cottle, Sci Games also installed Tim Bucher as executive VP and chief product officer of all Scientific Games’ business divisions. Before joining Sci Games, Bucher was the VP for sales and general manager of the Consumer Solutions Group at Seagate Technology.

The appointments inside Sci Games were announced on the same day as the release of the company’s financial data for Q1 2018.

Malta-based online gambling operator Gaming Innovation Group (GIG) continued its winning financial streak in the first three months of 2018, thanks to strength of its recurring B2B revenue and increased activity from internal gaming brands.

On Thursday, GIG announced that its first quarter revenue soared by 62 percent to €37.3 million ($44.68 million) in 2018 from €23 million ($27.54 million) during the same period last year as the demand for its B2B offerings and internal gaming brands rose.

Financial data showed that GIG’s B2B revenue jumped 143 percent to €15.3 million ($18.33 million) in the three months ending March 2018 compared to €6.3 million ($7.5 million) in Q1 2017. Its B2C revenue also posted a 37 percent gain or €25.4 million ($30.42 million) in Q1 2018.

GIG also saw a turnaround in its earnings before interest, tax, depreciation and amortization (EBITDA), which recovered from a €400,000 ($479,099) loss in Q1 2017 to a positive of €4.3million ($5.15 million) during the opening months of 2018.

Net income of Philippine-listed game technology provider DFNN Inc. grew five-folds in 2017 on the back of strong commission fees and great improvement in service income.

In a disclosure to the Philippine Stock Exchange, DFNN reported a net income of PHP144.77 million ($2.79 million) last year—a 513 percent leap from the PhP23.61 million ($454,964) posted in 2016.

DFNN’s consolidated revenue grew 270 percent to PHP961.94 million ($18.54 million) in the 12 months ending December 31, 2017, from the reported PHP 259.88 million ($5.007 million) posted in 2016. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA)surged by 1,470 percent to PHP191.1 million ($3.68 million) last year compared with the PHP130, 000 ($2,505) in 2016.

The company attributed its 2017 stellar performance to the 300 percent rise in commission fees from platform affiliates and a 438 percent improvement in service income attributable to revenue generated from software maintenance services.

A study led by a professor at Kansas State University has concluded that daily fantasy sports (DFS) is not a simple game of chance, but requires a great amount of skill. The study, which will be published in the Journal of Sports Science, urges Kansas legislators to not classify DFS as gambling. The decision could also spill over into other states that are looking into creating better definition of what is and what isn’t considered gambling.

The study points out that, “Whether or not individuals in a state can participate in daily fantasy sports has a massive economic and societal impact. This paper determines that daily fantasy sports are not games of chance.” It goes further, stating, “Unskilled participants never win at DFS.  With extremely high probability, all DFS winners have skill.”

Professor Todd Easton wrote the study in a partnership with co-author Sarah Newell. They reached their conclusions by studying simulation cases that generated random teams “to model a completely ‘unskilled DSF participant.’” The result was that the unskilled team logged a goose egg in the win column, and 35 in the loss column. According to the study, “The most astonishing result is that not a single team won a payout. It is difficult to truly comprehend the extreme rarity of losing all 35 contests. This is less likely than a single ticket winning the Powerball. It is less likely than flipping a coin and getting heads 28 times in a row. It is 300 times less likely than being struck by lightning this year.”

The results of the first round were compared to an integer programming model that uses a skilled strategy to select a team. In every simulation, the programming performed better than the unskilled simulation did. Easton and Newell emphasized that, in a game of chance, the results would have been more equal, regardless of whether or not the participants had any skill.

Last week while I was covering my first Bitcoin Cash (BCH)-focused event for CoinGeek.com- the London BCH Conference– I had an epiphany thanks to fellow attendee James Howells, one of the first six Bitcoin miners in 2009.  Howells pointed out how the BCH-focused community reminds him of the Bitcoin community in “the old days”, meaning, the 2009-2014 period or so.

And he is exactly right, I couldn’t agree more!

After processing Howell’s comments and observing the energy, passion and excitement surrounding the BCH Conference last week, my memory took me back to the London Bitcoin Conference I covered on July 3rd, 2013.  Big names in “old days” Bitcoin such as Charlie Shrem, Erik Voorhees, Shakil Kahn and Patrick Murck were all present and at the event, using a Bitcoin ATM, I bought one Bitcoin for £60 (which I still have).

I distinctly remember telling my camera crew after leaving this conference in 2013 that I wanted to get more involved in Bitcoin coverage because the energy reminded me of the iGaming industry pre-UIGEA…amazing how everything comes full circle in the end.

Far East Consortium International Ltd. (FEC) just took its reach a little further. It announced on Tuesday that it had inked a deal that will allow it to acquire a company that operates casinos in the Czech Republic. The merger is with Trans World Corp (TWC), which also has several operations in Germany and Austria.

How much money changed hands in the deal isn’t known. However, in FEC’s March financial filing, it mentioned the negotiations, saying that it wouldn’t exceed $42 million, except for adjustment necessary for “dissenting” shareholders.

In March, FEC announced that it would be negotiating a deal, through its FEC Overseas Investment Ltd. subsidiary, with a firm that operated gaming businesses in the Czech Republic. It detailed the firm as being TWC, which holds gaming licenses in the country, which allow it to offer “live and technical games” in three different casinos. The licenses were issued in January, and are valid for three years. The deal hinged on the approval of regulators in Nevada, where its overseas investment company is registered.

In acquiring the Czech Republic-based operations, FEC said that it “would add some of the best casino assets in the region” to the group, as well as providing an “additional stream of steady recurring cash flows and profits.”

The Women in Poker Hall of Fame (WiPHoF) saw 11 women nominated for induction this year, but in the end only two would be selected. Maria Ho and Lupe Soto were chosen to be part of the WiPHoF and will join 17 other women who have been that have been inducted since the organization’s founding in 2008.

For anyone who follows poker, Maria Ho shouldn’t need much of an introduction. First arriving on the poker scene a decade ago, this was her first year as an eligible candidate. Ho is well known for her poker ability, as well as for being a TV personality, a tournament host and a poker ambassador. The Taiwan-born star has also appeared on The Amazing Race, American Idol and Anderson Cooper 360. She is the 10th highest ranked female poker player, according to Hendon Mob, and has pocketed over $2.7 million in live action. Ho is also ranked fourth in the Global Poker Index’s female poker standings.

To many, the induction of the second female, Lupe Soto, shouldn’t come as much of a surprise, either. Soto founded the organization of which she will now be a part and has dedicated the past 10 years of her life to promoting greater female participation in poker. Soto was also responsible for starting the first women’s online poker forum in 2002, and for launching the Ladies International Poker Series (LIPS) in 2004. She’s the founder and executive director of the Women’s Poker Association and the CEO of the Senior Poker Tour.

The pair will officially be inducted to the WiPHoF during the organization’s Luncheon and Celebration, which will be held on June 26 at the Orleans Casino in Las Vegas. The gala is sponsored by PokerStars, the Stars Group’s Helping Hands charity, 888poker and Card Player Cruises. The event is open to the public and is set to kick off at 11 a.m. A percentage of the proceeds from the luncheon will benefit WiPHoF’s Poker Gives, a charity dedicated to homeless veterans and military families.

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

Across the UK and the rest of Europe, businesses from all industries use data collection as a way to drive their companies forward. While this has proven an effective method, especially as we move into a more virtual world, there have been a number of setbacks including companies using this data for more nefarious means, or that data being targeted for theft.

While there have been laws in place for several years to protect people’s rights and personal information, there were still many changes that needed to be made in order to fully satisfy the security of people’s personal information and the way it is collected, handled and used.

That’s where the GDPR comes in, which will come into effect on the 25th May 2018, with the aim to enforce more protection of consumers while also imposing stricter penalties on companies that don’t comply.

The Netherlands’ highest administrative court says the government has to rethink its lottery monopoly, but monopolies on sports betting and lottery scratch cards can continue to exist.

In 1964, the Netherlands granted Lotto BV (now Nederlandse Loterij) monopolies over lotteries, scratch cards and sports betting, based on the Gaming Act approved that year. When these licenses expired on December 31, 2014, the Kansspelautoriteit (KSA) regulatory body automatically renewed them without granting other companies the opportunity to bid for the right to offer these services.

A number of international gambling firms, including Betclic, Betfair and Unibet, along with the European Gaming & Betting Association, challenged the renewal and won lower court victories, only to have the KSA appeal the verdicts.

On Wednesday, the Administrative Law Division of the Council of State upheld the sports betting and scratch card monopolies but ordered the KSA to rethink its decision to renew Lotto BV’s numerical lottery monopoly.