It’s been a mad week in the UK and it’s only Tuesday. It’ll just get madder as March 29th approaches. Another day another Brexit vote. Concessions from Brussels or no concessions, nobody knows anything, journalists just keep guessing and drawing up flow charts, and businesses have no idea what to expect. The only way to get through it with any sense of normalcy is to stay liquid, keep risk at a minimum, and maintain a slow and steady growth strategy. Just stay the course, assuming the course you are in is calm and sensible. And if you’re GVC and your course hasn’t been slow and steady for years, sell 3 million shares at a discount as fast as possible.

So in the shadow of all that’s going on day-to-day on that politically dysfunctional island, the long-awaited massive GVC hangover has finally arrived. GVC shares collapsed nearly 20% yesterday after news broke that insiders were selling shares at a discount. I doubt this is the end of the decline. GVC reported earnings last week and net losses increased by 60%. GVC’s long term strategy has never made much sense to me. It just started gathering up assets under a giant umbrella and left a thousand-piece jigsaw puzzle unassembled on the floor. How it all fits together is a mystery, other than citing marketing crossover synergies and whatever other vague claims you can make off the cuff. The number that stands out in its 2018 earnings is SG&A payments equaled gross profit. If your staff costs as much as your gross profit you’ve got structural problems.

You can pump shares for a long time with excitement fueled from leveraged buyouts, but it can’t last forever. After a sugar-fueled climb, the bust is certain, though timing is always the hardest part. If you can guess it right, you can get rich quick.

What I find funny about the reporting on the GVC collapse are assertions that investors were “spooked” about the effects of the cut on maximum stakes on fixed odds betting terminals. Spooked? GVC bought Ladbrokes and its FOBTs on a conditional deal that took into account the FOBT max stakes cut. This was not a secret. How can investors be spooked unless they really have no idea what GVC has been doing on even the most basic level? There was no spookery here. It’s just the parabolic advance running out of fuel. No other reasoning need be prosthetically attached here. This is always what happens at the end of skyward advances with little fundamental backing.

Many industries suffer a lack of corporate social responsibility (CSR). Facebook is accused of not policing fake news. Banks are accused of deceiving customers. As a result of increased scrutiny and pressure, one consultant says online gambling represents the model of vigilance in this respect.

Aideen Shortt spoke to Gambling Insider for an upcoming edition of their magazine. She said, “More is being done in the online gaming industry – by genuine responsible choice and by enforced legislation – than in any other industry I can think of.”

Shortt cites a laundry list of reasons for why this is the case. Online gambling has to adhere to multiple jurisdictions, counter-terrorism and money laundering laws, responsible gambling laws, and, in effect, stay a few steps ahead of regulations to curry favor with politicians. As a result, online gambling operations are run more ethically and responsibly than many other industries.

“How can we reasonably do anything more?” said Shortt. “Yes, the occasional vulnerable person slips through the net or an advert pushes ASA (Advertising Standards Agency) boundaries – and the world goes mad as if we’re killing kittens.”

Century Casinos Inc., the U.S.-based casino and gaming operator, has been able to cut its losses. It reports that it wrapped up 2018 with a reduction in red ink at its Vietnam casino that shouldn’t be more than $3.6 million. Century is part of a gaming venue in Vietnam that offers nine electronic table games and which sits only 300 feet from the China-Vietnam border.

In a filing with the NASDAQ exchange yesterday, the company said that the aggregate of its Vietnam loss for the 2018 calendar year was tied to a deal that would see it purchase a stake in Minh Chau Ltd., a Vietnamese company, by April 2021. That purchase would take place through Golden Hospitality, a company of which Century’s Austrian arm controls 51%. Golden Hospitality, which already owns 9.21% of Minh Chau, is expected to purchase a total stake of 51% within two years for a total price of $3.57 million.

Minh Chau is the company that actually runs the gaming club in Vietnam. The club is located in Ta Lung, along the Sino-Vietnamese border, giving easy access to Chinese gamblers. It is only open to foreigners, as Vietnamese nationals are still prohibited from gambling. However, an ongoing pilot program could change that in the future.

Golden Hospitality manages the Ta Lung venue and earns a fee from Minh Chau for its activity. The fee amounts to 26% of the company’s net profit, and Golden Hospitality also has the right to purchase another 19% in the company up to 70%.

Bet365, the UK-based online gambling operator, is ready to take New Jersey, and the U.S., by storm. It has made its first step into the state, signing a lease for a piece of real estate that will most likely serve as its operational center as it plans on making its way across the country. If everything goes according to plan, it could be ready to launch online sports gambling in New Jersey sometime this summer.

The company is ready to start outfitting its new 19,000-square-foot space at the Two Greentree Center in Marlton, about 50 miles from Atlantic City. The move follows Bet365’s announcement last summer that it was considering a New Jersey launch for its sports betting operations and that it was in talks with a local gambling operator, as is required by New Jersey law, to make it happen.

In the end, Bet365 and the Hard Rock Hotel & Casino Atlantic City joined forces to provide the sportsbook. The Hard Rock property was first opened in June of last year, taking the place of the former Trump Taj Mahal in the gambling city. There were initial concerns that Hard Rock might not be able to offer a sportsbooks due to a naming rights deal between its parent company and the Hard Rock Stadium in Florida, but Hard Rock Atlantic City was able to eventually secure licenses to operate both a physical sportsbook and online gambling operations in New Jersey.

Bet365 may have entered the New Jersey sports gambling market a little late, but it is ready to make up for lost time. It is reportedly looking to move into New York soon and has already inked a deal with Empire Resorts, the casino operator behind the Resorts World Catskills in Monticello, in order to expand into New York once online gambling becomes regulated in the state.

It took a few years, but Frontier Capital Group Ltd. has finally found the money to be able to reopen the Casablanca Casino in the Clark Freeport Zone in the Philippines. Almost three years after having acquired the property, it is anxious to get things moving and announced that it could launch Casablanca at any time.

Frontier acquired the property in 2016, spending $26 million to seal the deal. However, the Philippine Amusement and Gaming Corp. (PAGCOR), the country’s gaming regulator, shut off the lights on the plan after demanding that Frontier make good on a an outstanding escrow account. That account was worth around $3.4 million at the time.

In a filing with the Australian Securities Exchange (ASE) yesterday, Frontier stated, “The company has secured the funds necessary to satisfy the Philippine Amusement and Gaming Corp requirements to reinstate operations of the Casablanca Casino, which is imminent.” The company’s chairman, Henri Ho, added that Frontier had “worked diligently to satisfy Pagcor’s operational requirements” and that the firm would “soon recommence operations at the Casablanca Casino, with a healthy bank balance.”

The funds came from another deal that went south for Frontier. The company announced in the filing that a balance of $1.06 million that it issued for a stake in the Mongolian National Lottery had been returned. That reimbursement came following the completion of previous negotiations on the subject and follows an announcement by Frontier from last month that it would not be able to meet certain conditions related to the transaction with the lottery in the allotted timeframes. It added, “The Agreement provided that the Conditions Precedent could not be waived, and the Company and the Vendor agreed that the Agreement be terminated.”

Sweden’s gambling regulator, Spelinspektionen, has been busy the past several months. After issuing a slew of licenses to allow operators to descend on the country last November, it has continued to process new requests on a continuous basis. The regulator has reportedly now issued 116 licenses to companies looking to offer gambling operations in Sweden after the country revamped its laws last year.

Over half of the 116 licenses issued so far have been for online casino games, with 62 licenses issued. The other licenses include 44 to offer sports wagers and a mix of land-based casino operations. Spelinspektionen reports that up to 72 gambling operators are now competing for a larger piece of the Swedish gambling and betting pie. With 116 licenses issued and only 72 operators having applied, many companies are obviously seeking multiple licenses.

Sweden updated its gambling laws as of January 1 this year. That move came after the country began reviewing and drafting new laws a few years ago in an effort to better regulate the changing space, as well as respond to growing demand.

With 72 companies vying for customers, competition is fierce. Many operators are placing an increased emphasis on advertising and are turning to aggressive or gorilla marketing tactics to try to stand out from the rest.

The building that once housed the George Henry Lee department store in Liverpool, UK has sat virtually empty for more than a decade. While it sits vacant, collecting dust, it becomes more of an eyesore and the Liverpool City Council is hoping it can make the building more useful. The council approved last month a plan offered by a property developer, Niboco, that would convert the building into a vibrant hotspot, offering a hotel, nightclub, bar and casino.

Niboco offered plants that would have the hotel offer 157 keys in the nine-story building, as well as the casino and nightclub, which would be located on the two lowest floors. The council is still working on the final plans of how the pieces would fit together and is expected to publish those plans as soon as they’re done.

The George Lee store abandoned the building 11 years ago. In 2013, a hardware store, Rapid Hardware, took over part of the building, but it closed last year. The hardware store is reportedly teaming up with an investment property company, Williamson Holding, and could become involved in the new project.

The idea is part of a revitalization project of sorts for Liverpool. The City Council has also announced that it wants to convert the former Magistrates Courts building on Dale Street, which could ultimately become a four-star hotel. The courtrooms would be turned into meeting rooms, the former prison cells would be luxury hotel rooms and what was previously the court’s reception area would serve as the lobby and hotel reception desk.

Although New Jersey has been liberal with its sports gambling regulations, it is still prohibited for sportsbooks to allow bets on college-level sporting events. Some operators have already gotten in trouble after they were found to have allowed wagers to be placed on several off-limits college games, and lawmakers in the state are prepared to try to prevent the activity from recurring. They are said to be contemplating the fines that are associated with violations.

According to NJ Online Gaming, Ralph Caputo, a state Assemblyman from Essex County, would like to see the fine increase from its current $2,000 level to between $20,000 and $100,000. He told the media outlet yesterday, “It’s insulting, really, for any of them to ignore the clear will of what the people voted for. The Division of Gaming Enforcement does a terrific job, but all they have right now is a slap on the wrist.”

The Golden Nugget, Resorts Casino and Caesars Entertainment all came under fire last year after it was discovered they had allowed wagers to be placed on college games. Both the Golden Nugget and Resorts Casino had received bets on two football games – Princeton vs. Columbia and Rutgers vs. Indiana – and Resorts was also busted for accepting bets on another football game, as well as a men’s basketball game. Caesars was presented with a $2,000 fine for allowing bets on a Rutgers vs. Kansas football game.

Caesars weakly tried to blame a computer glitch for the bets being allowed. However, the company was saved, as now wagers were actually placed.

Last week, current Vice Mayor and candidate for mayor of Quezon City Joy Belmonte gave her tentative support to a casino development in her city, pledging to pass an ordinance for the casino. Now that she’s done that, many are wishing she wouldn’t have.

Quezon City’s council has passed an ordinance that would put restrictions on resident’s access to the casino, reports local outlet Philippine Daily Inquirer. Belmonte argues that this should be fine, since developer Bloomberry supposedly argued that casinos are for boosting tourism. She said, “Since the argument is it should be for tourism, it should cater only to tourists. We’ll really make it hard for Quezon City residents to go [inside] the casino.”

I’m really not sure if Bloomberry made that case, but if they did, it would have been a ridiculous case to make. The operator already has the Solaire casino in Entertainment City, a short drive from Manila’s airport. The Vertis North location selected for this new casino is relatively far from the airport, but would be a perfect location to serve locals, due to its proximity to major roads and train lines.

The report from the Inquirer infers that Solaire currently gets most of its patrons from Quezon City, so a new casino would worsen that problem for anti-gambling types. Belmonte argues that too, saying, “They told me it would be a waste if these people still had to go to Parañaque. I told them, ‘I don’t care.’ Can you imagine, the number of Quezon City gamblers would double, especially since the casino is along EDSA?” EDSA is major thoroughfare in Quezon City and the Metropolitan Manila area.

Macau is starting to become a victim of its own success. Its Legislative Assembly will debate how they can counter the negative effects brought on by increased tourism, reports GGRAsia.

Sulu Sou Ka Hou is the legislator who is spurring on the debate. He’s questioning how the city can meet its goal of being a tourism mecca when it’s already struggling to handle the number of tourists being drawn in, and cites “worsening leisure conditions.”

What he proposes is a cap on inbound visitors, and argues that the existing strategy, of attempting to spread tourism out throughout the autonomous region, is having adverse side effects. He argues that the roads are unable to handle the increase in traffic, and small companies are suffering from higher rents.

According to a 2015 research study, Macau’s optimum capacity for tourists is somewhere between 32.6 million and 33.7 million. That’s much less than the 35.8 million the city saw in 2018, and even more are expected this year.

Darren Elias is in pole position as he tries to win an unprecedented fifth World Poker Tour title as the chip leader of the final table of the WPT L.A. Poker Classic at the HyperX Esports Arena in Las Vegas.

Some poker players dominate certain poker tours.

Phil Hellmuth Jr is the undisputed master of the World Series of Poker (WSOP), Phil Ivey used to win the Aussie Millions High Rollers with his eyes closed, and then you have Darren Elias – the man who commands the World Poker Tour (WPT).

Coming into the Season XVII WPT L.A Poker Classic (LAPC) Elias had won an unprecedented four WPT Main Event titles, and with only six players left from the 545 that chipped in $10,000 apiece during the Commerce Casino spectacular, Elias leads an assault on an incredible fifth title.

The Triton Poker Series in Jeju, Korea has reached its climax with Timothy Adams taking down the Main Event and Timofey Kuznetsov winning the final No-Limit Hold’em Short-Deck event.

The Triton Poker Series has pulled down the gold carat shutters for another two months, and Timothy Adams is the newest Triton Poker Series Main Event Champion after beating Bryn Kenney, heads-up, in the Landing Casino, Jeju, Korea over the weekend.

It’s an incredible achievement for Adams, considering he was one of a bevvy of players sparked out by a virus earlier in the week, but the Canadian managed to jump out of his sick bed, bloodshot eyes and all, to bank a personal best fortune of $3,536,550.

The HKD 2m (USD 255,000) buy-in event attracted 48-entrants (16-re-entries), and six of them finished in the money after Adams busted Event #1 winner, Justin Bonomo on the bubble.

Jaime Staples is the latest and biggest star to join partypoker’s new Team Online, in a role that will see him and Jeff Gross help create the most potent lineup of poker streamers anywhere in the world.

Jaime Staples is the latest member of partypoker’s new Team Online. The former PokerStars Team Pro debuts on partypoker’s Twitch Channel on May 4, three weeks before his 28th birthday.

Staples is one of the most popular poker streamers in the world, amassing a small army of followers across social media channels since emerging from his parent’s basement as a bona fide PokerStars piece of meat back in April 2015.

The Canadian star has more than 120,000 followers on Twitch, 87,000+ on YouTube, and close to 80,000 across his social media channels, and he joins the new team three-months after deciding not to renew his contract with PokerStars.