Monthly Archives: July 2020

GAMECO receives casino service industry enterprise license from New Jersey division of gaming enforcement

New License Allows GameCo To Provide Esports Betting, iGaming, and its Patented Video Game Gambling Machines (VGM™)

LAS VEGAS, NV – July 29, 2020- GameCo LLC, creator of the world’s first Video Game Gambling Machine (VGM™) and pioneer of the new casino experience designed to attract and monetize Gen X and Millennial players at retail and digital casinos, is proud to announce approval by the New Jersey Division of Gaming Enforcement for a Casino Service Industry Enterprise License. The company is now able to bring its diverse portfolio of esports betting, skill-based iGaming, and Video Game Gambling™ products to New Jersey casinos and sportsbooks.

New Jersey has been a pioneering jurisdiction in the expansion of gaming for sports and betting, iGaming, and land-based innovation. GameCo launched the first-ever skill-based Video Game Gambling Machines (VGM™) in New Jersey casinos in 2016. This new licensure builds on GameCo’s focus of innovation to bring new, different products and experiences to land-based and digital casinos.

In addition to land-based Video Game Gambling™, GameCo plans to bring their unique, full-service esports betting solution to New Jersey casinos and sportsbooks. In April 2020, GameCo announced a partnership with Berlin-based GRID, the premiere esports data platform, to offer the leading data solution for esports betting. GameCo now provides an unrivaled turnkey esports betting solution including the frontend platform, data, odds, and trading for regulated esports betting – an industry estimated to generate about $17 billion in wagers in 2020.

Push communications: Getting information out the right way

As we’ve covered previously, push communications are the act of sending a one way message that does not require a response, or at least not an immediate one. In a business setting, you’re likely to interact more with push communications than any other type of communication, simply due to the prevalence of email and memos. For today, I’ll touch on when you want to be pushing out information, when you don’t, and how this type of communication combines with interactive and pull communications.

When should I be pushing a communication?

Depending on your position, your boss and your organization, this question may be answered for you to a large degree already. Perhaps you need to send a weekly report to the directors. Maybe monthly townhalls require you to speak in front of your staff. Or if you have the type of boss who wants to know every little thing you do, maybe you need to notify them by email every time you’ve completed a task.

If you haven’t been told when to send out communications though, then there’s a few ways to help you determine when a push communication is a good idea, and they typically revolve around three things.

SJM takes a hit in the first half of the year, but gains expected

The first half of this year has not been good for many industries, especially the casino industry. Globally, the number of casinos that were able to remain in operation dropped to almost nothing and Macau, which has lived primarily off of gambling, was no exception. Once a casino mecca that gave gamblers the feeling of being a kid in a candy store with too many options, the city became a ghost town because of COVID-19. Recovery has started, but it will take several years for revenue levels to normalize. As all casino operators in Macau are reporting major losses, SJM Holdings has chimed in, presenting its numbers for the first half of the year. The final tally is dismal but, if analysts are correct, there’s a silver lining in the near future.

According to a filing with the Hong Kong Stock Exchange, SJM’s net revenue fell 74.4% across the first six months of the year, primarily due to the impact caused by the coronavirus. The loss amounted to $182.2 million, which is a stark contrast to the $216.7 million net gain it reported for the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) also fell, dropping down into the red.

In the half, net gaming revenue came in at $550.8 million, while EBITDA was -$126.93 million – a year ago, it was $268.3 million on the plus side. VIP gross gaming revenue (GGR) dropped 81.6% to around $107.58 compared to $584.3 million in the first six months of last year. According to SJM CEO and vice-chairman Ambrose So Shu Fai, “SJM’s first-half results reflect the severe contraction in travel and tourism caused by the Covid-19 pandemic. In this environment, we strive to control our running costs at a prudent level.” If SJM can get its new Grand Lisboa Palace in Cotai up and running, which it hopes to have ready by the end of the year, it will give the company a huge boost.

The good news, according to analysts with Sanford Bernstein, is that the GGR market share controlled by SJM increased in the first half. Vitaly Umansky, Kelsey Zhu and Tianjiao Yu wrote in an analysis of the company, that its market share “surged to 30.3 percent in the second quarter, up from 13.3 percent in the first quarter this year,” adding, “This is largely attributed to the local mass business on the [Macau] peninsula in which SJM has a stronger position than peers. This share gain is an anomaly of the current market.”

Virgin Galactic shows off its new spaceship, VSS Unity

Anyone who has ever dreamed about space travel, but who felt their ambitions were out of this world, could soon have a chance at turning that dream into reality. Virgin Galactic wants to be the first company to offer regular trips into outer space and has already been running trials. It’s ready to take the next step and hopes to soon let passengers take a seat on the VSS Unity as they prepare for an experience unlike any other. To drum up more interest in the project, Virgin Galactic recently showed off the interior of the spaceship, and the results are almost as stunning as the trip will be. 

VSS Unity is an air-launched plane that will offer suborbital flights. It offers six custom seats and 17 windows that will allow passengers to view the world as they climb to 60 miles above the planet. Once the ship reaches its peak altitude, passengers will be able to free themselves from their seats and float around in zero gravity, enjoying the view from all sides and all angles. 

George Whitesides, the chief space officer at Virgin Galactic, is as excited about the future as are the 600 customers who have already signed up. He brags about the circular mirror in the back of the passenger cabin onboard VSS Unity, explaining that it is a way “to allow our customers to see themselves in space in a way that has really never been done before.” In addition to the reported 600 already on the list, there are another 400 that have expressed interest, with everyone apparently willing to fork over the $250,000 it will cost to take the 90-minute journey. 

Virgin Galactic’s maiden voyage will almost certainly see the company’s founder, Sir Richard Branson, occupy one of the seats. He has been determined to make the VSS Unity a reality, and has been able to receive serious backing for the project. While the COVID-19 pandemic has put a damper on things, the project is forging ahead and Branson hopes to be able to launch “in months, not years,” according to comments he made previously. 

Basketball fans should be prepared for another bubble next season

MLB got off to a rocky start as it started the season and one team, the Miami Marlins, has already been forced to put its games on hold. The NBA and the NHL are almost ready to get their season restarts underway, and both will be operating inside a virtual bubble meant to protect players and staffers. The quickness with which the Marlins saw COVID-19 spread – at least 17 players have now tested positive in less than a week – shows how little control there is over the virus. There exists the possibility that holding sports seasons inside a bubble may extend beyond the current activity, and the executive director of the NBA is more than prepared to see the bubble make a return for the 2020-21 season. 

Michelle Roberts of the National Basketball Players Association (NBPA) connected with Tim Bontemps of ESPN to talk about what’s going on in the world of sports as the NBA gets ready to restart its season this week. She feels that there is a good chance the entire next season could play out inside a virtual bubble if the coronavirus isn’t conquered by this December, explaining, “If tomorrow looks like today, I don’t know how we say we can do it differently. If tomorrow looks like today, and today we all acknowledge — and this is not Michele talking, this is the league, together with the PA and our respective experts saying, ‘This is the way to do it’ — then that’s going to have to be the way to do it.”

Since the NBA reboot hasn’t started yet, it isn’t possible to say whether or not the bubble strategy works – sports fans will find out starting tomorrow when the Utah Jazz take on the New Orleans Pelicans and the LA Clippers battle it out with the LA Lakers. Give things a couple of days for test results to come back, and the sports world will know how effective the NBA’s strategy is. 

The good news is that no NBA player, since teams descended on Orlando, has tested positive for the coronavirus, which could indicate that the bubble idea is working. However, as the MLB launch showed, it doesn’t take much for a spike to be seen, despite strict health measures being implemented. Since the NBA is working only with a 22-team league for the playoffs, it has been much more manageable, and things could be completely different if the entire season and all 30 teams were to be included. 

Macau could shut down again if COVID-19 cases surge

Macau was dealt a serious blow because of the coronavirus pandemic, the type of hit that lingers well after you get back on your feet. At best, it could be argued that the gambling hub has only just now started to find its footing, but it still has a long way to go before it can catch its breath again. That may not happen, either, unless everyone takes their responsibilities seriously and ensures that health guidelines are being met. Short of that, Macau officials warn that the city’s casinos could be shut down once again. 

Anyone visiting a casino in Macau has to be able to prove that they’re negative for COVID-19 before stepping onto the gaming floor. That policy was established by the city’s health bureau and has received some backlash from the locals who argue that, since there are no active cases, the requirement is overbearing. What they fail to realize, however, is that the only way to ensure there are no active cases is by requiring the tests, since not everyone is willing to play by the rules. 

It was just discovered that Chinese gamblers are turning to smugglers to enter Macau in order to bypass security and health checks. All it takes is for one of those individuals to be carrying the coronavirus for Macau to be set back another six months. If taking extra precautions in view of the global pandemic is difficult for some, then the best option is just to stay locked up at home until either a legitimate vaccine is found or until COVID-19 runs its course. 

The Health Bureau asserted yesterday, “The gaming industry is the most important industry in Macau. Generally, people stay on casino floors for a longer time than other places, so that the risk of spreading the virus would be higher than in other places. Many infected people do not show obvious symptoms. It is hard to guarantee that Macau does not have any hidden patients at this moment. We have the conditions to keep a close eye on the preventive works of casinos.”

The IBIA doesn’t think Australia takes sports integrity seriously

The International Betting Integrity Association (IBIA) feels that Australia could do more to create a better, safer sports gambling market. The country has existing guidelines designed to keep corruption and match-fixing out of sports, through the Australian Sports Wagering Scheme (ASWS), but the IBIA believes Australia could do a better job. It is making suggestions (in pdf) for ways to improve the framework, and it is now up to Aussie regulators to decide whether or not to accept the input.

The IBIA participated in an open call by gaming regulators in Australia to review the ASWS, which had been made so the government could receive feedback on its sports integrity initiatives. In response, the IBIA recommends the removal of in-play betting restrictions, which it asserts will help protect the legal sports gambling market and further push out black-market operators. Previous reports have indicated that the underground gambling market in the country is worth as much as AU$2 billion ($1.42 million).

Australian lawmakers and gaming regulators are considering the launch of a new regulatory body to oversee sports gambling, Sport Integrity Australia (SIA). It would be used as a centralized data collection agency for all of the country’s syndicated professional sports and would implement an integrity task force to monitor all sports wagers. The creation of SIA came as part of a large review of Australia’s sports gambling scene, the 2018 Wood Review, which recommended 52 changes to improve the industry.

As the name suggests, the 2018 Wood Review was presented two years ago, and the IBIA feels that Australia hasn’t done enough to implement the recommended changes. In providing its latest comments on the state of sports gambling integrity in the country, the IBIA asserts, “It is particularly disappointing that the Government has not supported the Wood Review’s recommendation on in-play betting to properly address the integrity challenges presented by offshore betting, notably unregulated or poorly regulated Asian betting operators. The absence of an effective and coherent policy on in-play betting is detrimental to the regulated market.”

Bulgaria dissolves gambling regulator as country revamps gaming laws

Bulgaria’s State Gambling Commission (SGC) is out the door. The gaming regulator has faced a lot of scrutiny lately, thanks to allegations of corruption and extortion tied to a casino entrepreneur and suspected crime boss, Vasil Bozkhov. With trust in the organization lost legislators set out to change Bulgaria’s outdated regulatory structure, ultimately deciding on handing control over to the National Revenue Agency (NRA). After the bill seeking to make the changes received significant approval, it has continued to progress through the legislative obstacle course, finally making its way to the desk of Bulgaria’s president, Rumen Radev. With that, the SGC is out and the NRA is in. Now, all that remains is to find out if the NRA is up for the task or if, as Bozkhov has asserted previously, government corruption runs so deep that the gambling industry won’t see much of a difference.

Bulgarian lawmakers drafted Bill 054-01-51 to make changes to the country’s gambling act, submitting it for consideration this past June. According to iGaming Business, it found immediate support as it appeared before the Committee on Budgets and Finance, the Committee on Culture and the Media, the Committee on Children, Youth and Sport and the Committee on Budgets and Finance. Then, when presented to lawmakers, it was approved on its first reading on June 17. 

The idea had initially been to create a new regulator to oversee gaming activity in Bulgaria. The State Gambling Agency would borrow some of the policies and procedures from existing gambling regulations, but would be an entirely new entity to be established through the country’s Council of Ministers. That was changed by GERB (the country’s second-largest and conservative political party) lawmakers to put the NRA in charge, and those changes stuck. 

Bozkhov has been fighting extradition from the United Arab Emirates, where he was arrested this past January. He has asserted that political corruption goes all the way to Prime Minister Boyko Borisov and the country’s finance minister, Vladislav Goranov. Alexander Georgiev, the former head of the BGC, was arrested in February as part of a probe into Bozkhov’s questionable activities. That fight will be held at a later date and, in the meantime, Bulgaria will continue to push forward with a complete overhaul of its gaming industry. 

UEFA Champions League Preview

With just days until one of the closest-fought Champions League knockout stages in recent years resumes, who are the favourites, and which outsider could come from nowhere to land a shock victory amid a global pandemic? We take a look at the clubs who might look back on the next few weeks as the most important in their club’s history.  

The Favourites  

It’s easy to see why Bayern Munich (7/2) and Manchester City (15/4) are the two favourites, with both sides looking highly likely to make the quarter-finals. The 8-times straight German Bundesliga winners Bayern Munich have signed Leroy Sane from Manchester City, but their new left wing-forward will be watching his new team-mates from the sidelines as they try to beat Chelsea in the second leg of their Last 16 tie, already 3-0 up from Stamford Bridge game.  

While Manchester City have a 2-1 lead from their away leg, it was at the Bernabeu, and Real Madrid have been in fine form to clinch the La Liga title back from their deadly rivals Barcelona. Madrid will need to win by two goals or with  three goals and up to win the tie outright, with extra-time a possibility only if Los Blancos win 2-1 on the night at The Etihad.  

Dragon SV Casino from Bitboss launches Bitcoin gambling on Android

Bitboss has been hard at work to deliver a great gambling experience on Bitcoin SV (BSV) to the world, and customers can now get it in their hands. Dragon BSV Casino has launched on Android devices, giving gamblers a whole new way of experiencing BSV gaming at home or on the go.

The gambling games developer took to Twitter on July 28 to make their big announcement:

The Dragon BSV Casino has launched! White labeled on the #BitBoss Gaming Platform. All bets are provably fair #BitcoinSV transactions. https://t.co/OAGiORFCrT pic.twitter.com/58Z1XPcu2x

— bitbossio (@bitbossio) July 28, 2020https://platform.twitter.com/widgets.js

Ranjana Adhikari on the future of Indian gaming

The Indian market represents the final frontier for the online gaming community, with the potential market worth of billions to the local economy and international operators. Our own Stephanie Tower sat down with Ranjana Adhikari, Media Entertainment & Gaming Co Head of Nishith Desai Associates to discuss which direction India is going in.

Ranjana laid out what the gambling industry’s landscape looks like. “We are predominately an AI gaming market,” she said. “We have legacy casinos in three states, mass union territories, but that’s not the key market when you are looking at the future of gaming in India. The real market is in AI gaming and we do have some really popular products today spanning right from card games like rummy and poker and right into the close cousin of sports betting, you’ve got daily fantasy sports becoming immensely popular. We have seen a lot of interest coming in from international operators as well for games and sports betting products.”

[youtube https://www.youtube.com/watch?v=tudaMKSLDao?feature=oembed]

While the Indian market is showing tremendous potential, Ranjana pointed out regulation is needed to develop the industry in India. “When you are looking at legislation in India, even in a normal world in a non-COVID world it takes a lot of time for a piece of legislation to find the voice of reason,” she said. “Then the opinion of the political parties and then becoming law, it’s a rather long process. The law commission of India have been given the task of looking at whether legalizing horse betting and gambling in general.”

Boyd Gaming says casinos doing just fine on 50% capacity

US regional casino operator Boyd Gaming says it’s doing better than expected during the resumption of operations following their lengthy COVID-19 shutdown.

Boyd closed all 29 of its gaming venues in March as the pandemic took hold, and the first of these properties didn’t reopen until May 20, while others waited until the end of June and one (the Par-A-Dice in East Peoria, Illinois) didn’t get the nod until July 1. So year-on-year comparisons are essentially meaningless, but here goes.

Boyd generated revenue of $209.9m in the three months ending June 30, less than one-quarter of its revenue in the same period last year. The company booked an earnings loss of $110.5m versus a $52.5m gain last year and a net loss of $108.5m versus net income of $48.5m in Q2 2019.

Boyd’s properties were all subject to capacity restrictions upon reopening, with a corresponding effect on revenue. But thanks to “increased efficiencies in our operating model,” properties in Boyd’s dominant Midwest & South division reported “double-digit” earnings gains while the second-ranked Las Vegas Locals market was also ahead earnings-wise when compared to the same period of operation last year. Only the Downtown Las Vegas casinos were struggling to meet or beat their previous earnings results.

Massachusetts house okays sports betting bill, could give leagues revenue share

Massachusetts’ sports bettors are one step away from legal online wagering, while the major leagues are one step away from earning a cut of betting proceeds.

On Tuesday, the Massachusetts House of Representatives voted 156-3 in favor of Bill H.4879, An Act Enabling Partnerships for Growth. Among other economic opportunities, H.4879 would authorize legal online and land-based sports betting in the state. (View the bill in its entirety here, betting info starts on page 15.)

The bill, which now heads to the state senate for further debate before the current legislative session ends on Friday, envisions three categories of betting licenses: hybrid online/land-based betting for the state’s casino operators; in-person betting for state racetracks; and a ‘Category 3’ license for any Massachusetts-licensed fantasy sports operator that is also licensed for legal sports betting in at least two other US states.

In case anyone’s forgotten, Massachusetts is home turf for DFS-cum-betting monster DraftKings, while Flutter Entertainment’s FanDuel brand also meets those Category 3 criteria. In a unique step for US betting legislation, Massachusetts won’t require these operators to partner with a land-based operator to offer online betting.

AGEM Board of Directors Actions for July 2020

AGEM has been working for some time on proposed updates that address language in both Regulations 1 and 14 in Nevada. With support from the Nevada Gaming Control Board (GCB), the Nevada Gaming Commission convened at the end of June to review the proposed amendments and subsequently approved all the changes supported by AGEM. These… Read more »

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