My colleague Stephanie Tower interviewed Zach Peister, co-founder and Chief Development Officer of Intrepid Ventures, the creators of the Metabase Network, earlier this year in Asia for CoinGeek.com. The interview covered top methods for designing products and services in the Blockchain space and as a follow up to their discussion, with an injection of iGaming industry perspective, I wanted to chat with Peister on how he believes Blockchain tech is set to disrupt our world. 

Becky Liggero: Thank you for joining me today, Zach- it’s a pleasure to welcome your insights on CalvinAyre.com. Lets start with how you became involved with Blockchain tech. What drew you to Blockchain and why do you believe this technology is set to disrupt our world as we know it?

Zach Peister: I was actually working on a project to help foreign domestic workers (maids and helpers) in Singapore and Hong Kong to extricate themselves from what is essentially modern day slavery. I was searching for technology to help do this and that’s when I bumped into Collin Thompson in Hong Kong. Collin had been speaking with Vitalik Buterin and Joe Lubin and others in the founding team of Ethereum and he made the same introductions to me and then that’s when my life was forever changed.

After that I just went down the rabbit hole, exploring the technology and its potential impacts on humanity, the global economy and industry. I tried to learn all that I could about blockchain and began to meet as many people as possible in the field. Even beyond the hype, I truly believe in the disruptive power of the technology because it will serve and empower those that are disempowered either by socio economic class or by other circumstances. It will also enable businesses to develop new operating models that are required to thrive in the digitized, hyper-connected global economy. It will remove inefficient intermediaries that have hindered business processes and exponential economic growth, enabling more direct and instant connections to exist between people and businesses in both developed and developing countries.

Nevada casinos are on a winning streak. For the fifth consecutive month, gambling houses in the state have reported gross gaming revenue (GGR) increases, the latest being a 4.2% increase for June. In the monthly report by the Nevada Gaming Control Board (NGCB), the board indicated that casinos took in $933 million last month.

Reno, Nevada, known as “The Biggest Little City in the World,” played a significant part in increasing July’s GGR. Reno-area casinos took in $59.4 million for an increase of 20%. Casinos along the Las Vegas Strip, always a favorite location for gamblers, reported an increase of 5% over June 2017, taking in $524 million. The one area that took a hit was Downtown Las Vegas, which raked in $44 million – a decrease of 4.4% over June of last year.

With the end of the month comes the end of the fiscal year. GGR for the year increased 3.2% to reach $11.8 billion, of which $6.6 billion was collected by casinos on the Strip. This was 2% higher than what the same casinos reported for the previous fiscal year.

Slot machine revenue declined by 3.3% in June, taking in just $472.5 million. Most terminals, including megabucks machines and $5, $25 and $100 terminals, all reported losses. Penny slots lost 1% while quarter slot revenue dropped by 3%. Oddly enough, nickel slots saw an increase, jumping 13% to bring in $39 million.

Sports gambling is the topic du jour around the globe and the debate doesn’t show any signs of abating any time soon. Many countries are discussing how sports gambling can impact economies, as well as individuals, and there seems to be almost a daily flow of new rules and regulations coming from every corner of the globe to control the space. Now, recommended changes in Australia could soon be introduced that would have wide-spread implications on punters, as well as on players.

If the recommendations are approved, players could be locked up for giving information to bookies and previous minor infractions would be made criminal offenses. Australia would also see the creation of a new law enforcement agency, the national sports integrity commission (NSIC), which would have a generous amount of latitude in its duties.

The NSIC would be comprised of agencies that include the Criminal Intelligence Commission, the Australian Federal Police and the Home Affairs Department. It would be able to request electronic surveillance of officials, athletes and coaches who it feels are involved in fixing matches, even for passing along insider information.

The commission wouldn’t have authority over just the professional sports leagues. It would also be involved in junior and community sports associations, as well. Any athlete convicted of being even remotely connected to organized crime could be sent to prison.

International Game Technology (IGT), a supplier of gaming and lottery services and products, saw its second-quarter revenue slide a little compared to last year. In a Tuesday filing, the company said that its consolidated revenue for the quarter had dipped almost 1.5% year-on-year, coming in at $1.20 billion. In the second quarter of last year, the company reported $1.22 billion in consolidated revenue.

Almost $161.5 million in net income attributable to IGT was recorded for the quarter, following a loss of $290 million in the same period last year. This included a gain of $173 million from net foreign exchange, giving the company adjusted net income of $57 million.

IGT still carries a substantial amount of debt – $7.53 billion at the end of the quarter. This is up $210 million from the end of last year. Operating income for the company, however, increased by 8.9% for the quarter to reach $209 million.

The firm’s EBITDA (earnings before interest, taxation, depreciation and amortization) was $441.8 million, a bump up of 4.2% over the $423.7 million recorded in the same period last year. The increase in EBITDA was attributed to “robust global lottery performance and disciplined operational management.”

CrownBet acquired the operations of William Hill Australia (WH Australia) this past March after a bidding war for the struggling gambling operator. Following the acquisition, CrownBet indicated that it was planning a name change, initially settling on Sportingbet. However, this was axed by the courts after Paddy Power Betfair’s Australian arm, Sportsbet, challenged the move in court and won. Now that the dust has settled, CrownBet has found a new name and has dubbed the operations BetEasy.

CrownBet CEO Matt Tripp was more than a little disappointed following the court’s decision over the Sportingbet name, saying that he “had his heart on Sportingbet.” However, he points out that the new name will appeal to customers of both CrownBet and WH Australia.

The merger of WH Australia with CrownBet is set to produce the country’s third-largest sports betting operator. The first is Tabcorp, followed by Sportsbet. There has been some concern over too few companies having too much control over the market, but the deals haven’t seemed to suffer greatly over those concerns.

However, BetEasy is being introduced while the most attention is being given to the gambling industry in Australia. Operators are seeing tighter restrictions, especially with regards to advertising, as well as additional taxes being levied against them.

Almost 60% of the soccer teams in England’s top two divisions are preparing to sport gambling-related advertising in the upcoming season. Nine of the 20 Premier League teams and 17 of the 24 Champions League teams will all have sponsorships by gambling companies, an issue that some have called “disturbing” and “worrying.” While the UK has seen actions to deter gambling-related advertising, it hasn’t had much impact on sports sponsorships.

Sky Bet, the gambling arm of Sky Betting & Gaming (which, by the way, is owned by The Stars Group, owner of PokerStars), sponsors all three English Football League (EFL) divisions. However, it has an extended presence in the Championship, which is of great concern to charities in the UK that deal with gambling addiction.

Professor Jim Orford, representing Gambling Watch UK, said, “This is worrying. There is evidence that gambling is becoming ever more normalised, particularly among young people, so that increasingly betting is seen as part and parcel of following and supporting one’s favourite sport or team.”

The UK Gambling Commission recently published a report, in which it indicated that there are around 430,000 adults in the UK that have gambling problems. It further stated that 2 million more are at risk of developing gambling problems.

At the beginning of July, Imperial Pacific International (IPI) indicated that it probably wouldn’t be able to meet the August deadline to have construction completed on its Imperial Palace Resort (IPR). Despite talks of putting on a night shift and bringing in additional construction workers, the company has now confirmed that it is still behind schedule and has asked for yet another extension.

IPI was told by Saipan’s Lottery Commission in April 2017 that the new 350-room hotel facility must be completed by August 2018. The company said that it would have no problem meeting the requirements; however, a slew of issues related to employment and construction delays have consistently bogged the company down, preventing it from being able to maintain its momentum. As it hasn’t been able to meet the deadline, the company is in jeopardy of losing its casino license.

In June, Hong Kong-based IPI told authorities that it was “working diligently” to meet the schedule. However, a week ago, the company sent a letter to the Commonwealth Casino Commission’s executive director, Edward Guerrero, in which it admitted that there was no way that it can finish on time.

According to the Saipan Tribune, IPI has requested a deadline extension through the Lottery Commission, anticipating it would need about another six months to complete the project.

Now that sports gambling is set take the stage in the U.S. state of Pennsylvania, the state’s market-leading casino, Parx, is going to roll the dice. Through a partnership with British technology company GAN, Parx will use the company’s sports betting solution for both online and on-property action. If everything goes according to plan, the new partnership will go live by the end of this year.

In a statement issued by GAN, the company asserted, “By leveraging GAN’s platform, Parx Casino will have the opportunity to launch retail and online regulated sports betting together with online gaming in Pennsylvania later this year, subject to the regulatory approval of the PGCB [Pennsylvania Gaming Control Board].”

Following the recent approval of sports gambling in the state, many lawmakers were concerned that the price of doing business was too high. In order to be approved for a gaming license, an operator has to pay a $10-million fee and be prepared to give up 36% of its revenue in taxes. While online gambling has been a success—nine of the state’s 13 brick-and-mortar casinos have already filed for licenses—not one casino has filed for a sports betting licenses, including Parx. Casinos have had since May 31 to apply for a license with the PGCB.

The state’s tax rate for sports gambling is three times higher than what is found in New Jersey, already the home of three sportsbooks in a new market. Two are operated by William Hill USA, who isn’t impressed by Pennsylvania’s regulations. Dan Shapiro, William Hill USA’s VP of business development, told The York Dispatch that Pennsylvania is “just not something we’re looking at seriously right now. With a 36% tax and a $10 million license fee, there are other states that are more interesting to us.”

As I watch the craned camera follow Jason Koon out of the Triton Poker Series HKD 2,000,000 (USD 255,000) buy-in Main Event in fifth place for HKD 8,470,000 (USD 1,079,120), I have to remind myself that there are poker tournaments in the world where you don’t have to invest the cost of a house to play.

Here are three of them.

Joseph Cheong Wins MSPT Closer at The Venetian

Most high stakes players struggle to focus when competing in lower buy-in games, but it doesn’t seem to be a problem plaguing Joseph Cheong recently.

The Brunsons have launched an online training course valued at $149, a matter of weeks after Doyle criticised Daniel Negreanu for creating an online training course with MasterClass.

It’s 1978, and a poker player thought it would be a good idea to create a book containing his most exclusive poker secrets. I’m sure his peers met his decision with derision. The idea to share your thoughts in return for a long-term profit was unheard of back then. Insane. Yes, that’s the aptest word.

Insane.

And the man’s name?

The World Poker Tour will host the inaugural Women’s Poker Summit during the WPT500 in Los Angeles in a bid to improve female participation in the game. 

Female poker players made up less than 4% of the field in the World Series of Poker (WSOP) despite 7,874 people being the second largest in the history of the event.

I am at the Triton Poker Series in Jeju.

The elite.

Mikita Badziakouski has won back-to-back Triton Poker Series Main Events, after winning the $5.2m first prize in the Jeju event, a few months apart from taking down the Main Event in Montenegro for $2.5m.

Badziakouski.

It’s not the most straightforward name to say.

Last night, I asked him at least six times for the correct pronunciation of his name. I killed it each time. But we had better get used to it because Mikita Badziouski is proving himself to be quite the winner.