Tag Archives: igaming

BetMGM launch Pennsylvania online casino, call out Jerry Lawler

Online gambling operator BetMGM has soft-launched its new Pennsylvania site while threatening a Tennessee rival with legal action for swiping its marketing slogan.

On Tuesday, the Pennsylvania-licensed BetMGM online casino began its three-day ‘soft-launch event’, which will see the site offering real-money bets from 2pm-10pm on day one, expanding to 10am-8pm on Wednesday and 10am-10pm on Thursday. Assuming no major hiccups, the site expects to be cleared to go 24/7 by Friday.  

Pennsylvania marks the seventh US state in which Roar Digital – the online gambling/sports betting joint venture of MGM Resorts and GVC Holdings – has an online presence with its BetMGM brand, joining Colorado, Indiana, Nevada, New Jersey, Tennessee and West Virginia (all of which are limited to sports betting save New Jersey).

For the moment, the Pennsylvania site is purely casino-focused, as BetMGM has yet to secure the necessary land-based gaming partner that would allow it to offer sports betting. However, the company announced a marketing partnership with the NFL’s Pittsburgh Steelers last week and claimed it was targeting a Pennsylvania betting launch before year’s end.

Michigan’s online casino, sports betting launch inches ever closer

Michigan’s online gamblers might find both sports betting and casino products in their digital stockings this Christmas, although odds appear better that Santa might get waylaid and they’ll have to wait until January.

On Tuesday, the Michigan state legislature’s Joint Committee on Administrative Rules (JCAR) waived its right to subject the final draft of the state’s online gambling regulations to further (unnecessary) review.

The decision clears the path for the Michigan Gaming Control Board (MCGB) to officially file the final regs with the department of state, after which the MGCB can (finally) begin approving online casino/betting licenses.

The state approved its gambling expansion plans one year ago this month and the MGCB began accepting online license applications this summer. At the time, the MGCB set a ‘late 2020 – early 2021’ target window for launching state-approved online gambling but pressure is mounting to try for the earlier half of that range.

Poker Idols: Johnny Chan

The legend of Johnny Chan is a story that reads like a game of poker. There are moments where the hero of the tale is almost down and out, before an epic comeback and a triumphant finish. In many way, Johnny Chan embodies the game of poker itself. But where did Johnny Chan come from to take the game by storm and what is Johnny Chan doing now?  

The Origins of The Orient Express  

The story of Johnny Chan is an amazing one, not least because it began about as far away from Las Vegas as it is possible to be. Born in Guangzhou, China, Chan’s family moved to the United States when young Johnny was just five years old, in 1962.  

It was much later, with his family owning a chain of restaurants in Texas that the young Johnny Chan learned to pay the game of poker with restaurant staff, ad when he was 21 years of age, he gave up on his University studies to focus on poker as a profession. Rumour has it at the age of just 16, Chan ran $500 up to $20,000 only to lose the lot the very next day.  

Danish gamblers spend less than Nordic neighbors, prefer sports betting

Denmark’s gamblers spend far less than gamblers in neighboring Nordic countries and put far greater emphasis on sports betting than other gambling options.

On Tuesday, Denmark’s Spillemyndigheden regulatory agency released the results of a new survey of gambling activity across 10 European markets. The survey, which relied on 2019 data provided by H2 Gambling Capital, compared Europe’s top-10 per-capita gambling spending markets.

The survey ranked Denmark eighth among these 10 countries with per-capita gambling spending of DKK2,101 (US$341) for residents aged 18 years or older. Only Germany (DKK2,051) and Greece (DKK1,788) ranked lower.

At the other end of the spectrum, Finland topped the chart with DKK3,148, well out in front of runner-up Italy (DKK2,586) and third-place finisher Ireland (DKK2,546). Denmark also scored lower than Nordic neighbors Norway (DKK2,262), Iceland (DKK2,216) and Sweden (DKK2,163), while narrowly edging out the UK (DKK2,116).  

Sports on screen: Sunderland ‘Til I Die (2018)

There are good documentaries and there are great documentaries, and this week’s subject of Sports on Screen definitely fits into the latter… although perhaps for all the wrong reasons.

Sunderland Til I Die is a Netflix football documentary like on other. Last week, we wrote about the popular Amazon series Tottenham Hotspur: All or Nothing. While Tottenham hotspur: All or Nothing is also excellent, it focuses on the positives, omits serious blips like Hugo Lloris’ drinking or Son Heung-Min’s tackle which resulted in a horrendous tackle on Everton’s Andre Gomes. Throughout that documentary, Daniel Levy and Jose Mourinho also come off like your best friends, which they’re really not. That’s because the club ultimately had approval over the content and what made it to screen.  

Sunderland A.F.C. cannot have had even the merest smidgeon of control over this documentary’s content making it to Netflix.  

Whoever signed off on Sunderland Til I Die from the club may have missed a trick, but it makes for an unbelievably ‘warts ‘n’ all’ docuseries look at the former English Premier League club who, after being relegated to The Championship, are determined to make it back to the big time.  

College football odds: Week 14 lines & trends

Odds courtesy of OddsShark.com

In a normal college football season, the first weekend in December would be conference championship weekend, but everything has been pushed back in 2020 due to the coronavirus so that’s not the case this Saturday. It will be the regular-season finale for many teams around the nation, though.

 

On Saturday, it could be a bit of a trap game for top-ranked Alabama (all rankings from most recent College Football Playoff Top 25 and some could change) when the Tide visit LSU. Bama played in the Iron Bowl last Saturday without Coach Nick Saban due to a positive COVID-19 test but still easily handled bitter rival Auburn and is on the verge of clinching a spot in the SEC Championship Game. Assuming all goes well, Saban would be cleared ahead of this one.

Chris Moorman wins GGPoker High Roller MILLION$ for $251,000

He’s won over $16.5 million at the online felt and just under $6 million at the live felt. To many, he’s the best online tournament player who ever lived. Chris Moorman can now add another title to his growing legacy as one of the greats of our game after taking down the High Roller MILLION$ event on GGPoker.  

Originally from Britain, Moorman now hails from Los Angeles, but while he might live inn ‘La La Land’, there’s no-one more rooted in reality than the dedicated pro who has needed to travel to play online even in recent years.  

Just a day ago, Moorman added his latest online title to a resume that is stocked to the gills with achievements that other players can only dream of. With the most triple crowns in history (30), Moorman was the first to crack the $10 million and $15 million mark in online tournament winnings and is phenomenally focused when at the felt. So it should come as no surprise that he took down this week’s GGPoker High Roller MILLION$, albeit via a deal when heads-up play was reached.  

The final table featured players from as far-flung places as Brazil, India and Canada, with the 491 total players who made the final day whittled down to the final nine through the money bubble at 350 players and beyond. The prizepool of $1.65 million saw players such as Niklas Astedt – known for his Super MILLION$ prowess, which you’ll be able to bet on from tonight via Poker Shares – Bryan Paris and Daniel Dvoress all managed to make the money without threatening the six-figure payouts at the business end of the event.  

Norsk Tipping new online casino limits; PartyPoker bids Norway buh-bye

Norway’s online gambling monopoly is imposing new holiday spending limits, while PartyPoker plans to make this the worst Christmas ever for its Norwegian customers.

On Tuesday, Norway’s state-run Norsk Tipping announced that it was reducing monthly loss limits for certain ‘high risk’ online casino products by 25% to NOK7,500 (US$850). Maximum daily loss limits on these games will be capped at NOK2k.

The products — KongKasino, eFlax, Bingoria and Yezz – will also be subject to an extended ‘time out’ period after one hour of continuous play. The previous 90-second delay will now last 15 minutes. The company is also removing the ‘popular’ label it formerly applied to certain casino games and halting all text message promotions to customers aged 18-25 years.

Pre-selected stakes on certain products are being set “as low as practically advisable” and Norsk Tipping warned that it isn’t ruling out a further “downward adjustment” of maximum betting stakes on certain casino products.

Sportech selling Global Tote to Australia’s BetMakers

Australian race betting operator BetMakers plans to boost its US presence by acquiring the Global Tote business from UK operator Sportech.

On Tuesday, the Bristol-based Sportech announced that it had reached a £30.9m deal to sell its Global Tote pari-mutuel technology division to Betmakers Technology Group. The announcement came just days after media reports speculated that the financially struggling Sportech was flogging its Tote operations.

The deal will see BetMakers pay 20% of the deal price as a non-refundable initial payment once BetMakers shareholders voice their approval. The balance is due when regulatory approvals are secured, which the parties expect will occur in H1 2021.

Global Tote has clients in 37 different markets who handled a combined US$12.2b in racing wagers last year, from which the unit derived revenue of £30.8m, earnings of £5.6m and a pre-tax loss of £800k. Over the first half of 2020, the Global Tote’s revenue totaled £12m, with earnings of £1.6m and a pre-tax loss of £1.2m.

Cherokee feeling the pinch as Lumbee tribe look to get into tribal gambling

The Lumbee Tribe are very happy about their recent wins, with the U.S. House unanimously approving the Lumbee Recognition Act. The Eastern Band of Cherokee Indians aren’t quite so happy, seeing this as a mockery of their own past recognition, and an attack at their bottom line.

By receiving recognition, the Lumbee can now go for several benefits, including a casino in Robeson County, North Carolina. “The Lumbee people have been praying for this day and today’s action in the House brings us one step closer to our goal,” Harvey Godwin Jr., chairman of the Lumbee tribe, said in a news release.

The Cherokee are much less happy. They’ve pointed out in the past that the Lumbee have changed the story of their heritage multiple times, and they hope the Senate puts an end to any talk of recognition.

“The use of congressional authority to ignore and avoid investigation of such serious questions about the Lumbees’ authenticity is an outrageous injustice to all federally recognized Tribes,” said Richard Sneed, principal chief of the Eastern Band of Cherokee Indians, in a statement Tuesday. “History and facts must guide the process, not politics. We call on the Senate to reject this legislation and allow the Lumbee claims to be examined through the Office of Federal Acknowledgement in the Department of the Interior.”

JD Duarte sees a big future for NFL in Latin America

The gambling industry has been a driven fan engagement in new markets for global brands, and the NFL is no exception. Betcris CEO JD Duarte is excited by the future of the NFL in the Latin American market, and he sat down with our very own Becky Liggero Fontana to share his excitement of giving America’s favourite past time exposure into South America.

While Latin America is still considered to be an emerging market by most major sports brands and gambling operators, it continues to show massive potential for engagement. Duarte believes that sports betting has yet to fully explode in the region as people consider sports betting still to be a novelty for entertainment in the region.

Duarte believes that the NFL is the perfect product to change people’s perceptions of sports betting. “The NFL is probably one of the most entertaining sports to watch on TV,” he said. “The whole situational aspect of what’s going to happen next makes it a really great sport for live betting.”

https://www.youtube.com/watch?v=IetJvfX1cVc&feature=youtu.beVideo can’t be loaded because JavaScript is disabled: JD Duarte sees a big future for NFL in Latin America (https://www.youtube.com/watch?v=IetJvfX1cVc&feature=youtu.be)

Las Vegas strip a bad investment with low tourism and convention attendance

2020 has shown the weakness of the Las Vegas strip. That has industry experts suggesting that local casinos are a better business model long term.

October revenue numbers out of Nevada spelled the picture in a nutshell. Statewide revenue was down 19.5% year over year, but the Strip was hit hardest with a 30.2% drop. Locals revenue only fell by 11.1%.

Joseph Greff, a J.P. Morgan gaming industry analyst, suggested that casinos that cater to locals are a better investment as a result:

“The Las Vegas Locals market is exhibiting a faster recovery than the Las Vegas Strip gross gaming revenue, as evident on Boyd and Red Rock Resorts third-quarter earnings conference calls — which makes sense given the general Clark County area population benefit from payroll protection programs and unemployment checks and the retiree base in the area. We continue to prefer Las Vegas Locals exposed operators, Boyd and Red Rock Resorts over Las Vegas Strip operators.”

ZenSports advances growth plans with Tennessee, Virginia applications

ZenSports wants to be one of the largest gaming operators in the US. What started as an international sports gambling exchange, allowing users to establish their own bets, has morphed into something larger, and the company recently announced that it was possibly looking at buying a casino in Nevada. That venture would lead to the company operating a sportsbook out of the property, but that wouldn’t be the only one on its list. It has just submitted its paperwork to both Tennessee and Virginia as it looks to secure a sports gambling license in both of the states.

Should the applications be approved, ZenSports will be able to offer its peer-to-peer gambling exchange to users in the states. The online portal has rapidly found a lot of support around the globe, as sports gamblers aren’t forced to pay the customary vig sportsbooks charge. Instead, ZenSports only charges a fee that is less than the vig, making it a more attractive offer to gamblers.

In comments sent to Casino.org, ZenSports co-founder and CEO Mark Thomas asserted, “We are amenable to only doing market-making and bookmaking ourselves in states where peer-to-peer isn’t yet allowed. We’re pushing to allow for as many of our features as possible. But we have the capability to turn on/off as many or as few features as need be.”

Tennessee already has four active sportsbooks – Action247, BetMGM, DraftKings, and FanDuel – and BetAmerica, William Hill and Wynn Resorts are reportedly vying for sports gambling licenses, as well. The state requires sports gambling operators to maintain a hold of 10%, which is higher than what is found in most states, and it isn’t clear if ZenSports would be able to adhere to this requirement. However, the company is in great shape financially and Thomas asserts that it would be able to meet all expectations established by the state.

Gambling Industry Announcement and Partnership Roundup –December 1, 2020

In the fast-moving world of gambling, sometimes you might miss news that could be important to you. To make sure you’re all caught up on gaming industry news, be it online or brick and mortar, we’re rounding up the some of the announcements and partnerships from the last week that you might have missed.

Don’t miss out on all of the latest announcements. Our Press Release section is updated constantly.

Pragmatic Play has Inked a new Agreement with Pin Projekt’s Sports Betting Brand WWin

Pragmatic Play, a leading game content provider to the gaming industry, has signed an agreement with Pin Projekt that will see its full portfolio of award-winning slot content made available on the operators WWin brand.

SBC Leaders launches to bring together the cream of the betting and gaming industry

SBC is bringing together the most influential companies in the betting and gaming industry with the launch of the exclusive SBC Leaders operators association.

The group has been formed to provide a forum for the leadership teams of the premier operators to share ideas, promote innovation in the sector, collaborate on major issues, and work to enhance the industry’s reputation.

The membership of SBC Leaders will consist of international operators invited to join as a result of achievements that have helped the entire industry to progress and grow, along with the trade associations that represent the sector in discussions with legislators. 

When considering companies for inclusion,a particular emphasis is placed on work in the fields of safer gambling and customer care, product and technology innovation, and corporate social responsibility, along with new market development and revenue growth. 

Success Dragon finds success even as gaming revenue declines

The six-month period that ended on September 30 wasn’t as detrimental to Success Dragon’s bottom line as it was to the vast majority of companies operating in the gaming space. The gaming services company just submitted its latest financial health report to the Hong Kong Stock Exchange and shows a year-on-year increase in revenue for the period of 14% off a total of $6.5 million. This is made particularly impressive because of the fact that the company’s gaming-related services took a 57.7% hit in Macau-derived revenue during the same period.

From April to September, Success Dragon saw revenue out of Macau of just $2.29 million, down substantially from the $5.41 million it saw in the same period last year. The decline wasn’t just because of COVID-19, either, with the company explaining, “The decrease was mainly attributable to intense competition in the Macau gaming market faced by the group. The market competition was further worsened by the outbreak of Covid-19 pandemic.”

The global coronavirus pandemic certainly played a key role in the reduction in the numbers, with casinos and gaming operations everywhere being greatly restricted. Success Dragon has had a strong symbiotic relationship with Macau that has routinely accounted for about 35% of company revenue. When the COVID-19 debacle began, Success Dragon took measures to reduce its operational costs in order to offset the negative market movement, but these couldn’t prevent it from taking a loss of $632,100 during the period, compared to the $219,000 loss it reported a year earlier for the same six months.

The net loss for the company moved the right way this year as it headed to the black, but it fell short at $786,000. Still, given that it reported a net loss of 890,100 last year, and given the issues the gaming industry is facing because of COVID-19, the gains are notable. Success Dragon has maintained a diverse portfolio of activity that has been able to keep the money flowing as gaming contracts. 

Germany clears the air on horserace betting taxes; operator to pony up

Very rarely – there are better odds of winning the Powerball – will someone fight any country’s tax authority and win. Unless there is clear, irrefutable support for the case, it’s not even worth trying it. Taxes are, for better or worse, a way of life and no government is going to be willing to give up any revenue stream it has established. A gambling operator targeting the German market has found out that its attempt at fighting the government over its tax obligations was like hitting your head against a brick wall, and will now either have to pay up or shut down. 

The unidentified operator is reportedly based in the European Union but has its headquarters outside Germany. That didn’t stop it from legally accept bets on horse races from German gamblers as far back as 2012 but, when it came time to pay its tax bill, it suddenly decided it didn’t need to. It argued that the newly-created State Treaty on Gambling, which had gone into effect that year, provided a “lack of specificity and clarity” regarding tax obligations on gambling activity and was, therefore, unconstitutional. 

The operator took its case to a court judge, who, in 201, ruled that the objection had no merit. Undeterred, the company then went to Germany’s Hessian Finance Court, which reached the same conclusion as the lower court in January 2019. Still not ready to accept defeat, the company met with Germany’s Finanzamt, the country’s tax office, which has now, like in the two previous attempts, determined that the operator had no foundation for its argument and that it is going to have to pay its outstanding tax bill. 

The operator had tried to argue that conflicting information in the Racing Betting and Lottery Act (RennwLottG) made it impossible for Germany to accurately calculate the taxes due. One section of the legislation, Section 11, discusses a 5% tax on the stakes of race wagers, while Section 17 states that wagers placed by a resident in Germany or processed by a German entity are to be taxed at 5% of the “nominal value of the betting slips.” Section 17 infers a higher tax rate, and the operator asserted that the “delimitation between the taxable elements of Section 11 of the RennwLottG and Section 17 of the RennwLottG is not clearly regulated.” It added that Section 17 doesn’t contain language that identifies horserace wagers as being governed by the section, but hasn’t been able to find any legal support for its argument. 

Three new casinos would give NY $1.5 billion, former gov. asserts

New York State is trying to crawl out of an economic hole that has been caused by the COVID-19 pandemic, but, every time it inches upward, it slips back down as new coronavirus issues arise. A former governor of the state, David Paterson, thinks he has the solution and bills it as one that would give New York an immediate injection of $1.5 billion. Current governor Andrew Cuomo just needs to expedite the state’s casino plans and allow three new casino licenses to be issued for downstate operations. 

Paterson, who served two years as New York’s governor, penned an op-ed piece that was published this past Sunday in the Times Union. In it, he asserted that lawmakers need to pull the trigger on a plan already approved by state residents to allow three new casinos, explaining that, in doing so, New York will get $1.5 billion in instant revenue, $900 million in recurring revenue, 120,000 new direct and indirect jobs and 70,000 “local union construction jobs and career training opportunities.” He added that the new venues would produce over $11 billion in employee wages, as well as $7.5 billion in new investment capital, as well.

The former governor explained, “As I learned, in a time of budget distress, there are two options: Cut spending or raise revenue. Right now, spending cuts are not an option, as New Yorkers battle to recover from COVID-19… Neighborhoods have been decimated and need to be rebuilt… We can be smart and find new revenue streams — like awarding the three remaining downstate casino licenses, resulting in an immediate influx of $1.5 billion and new union jobs.”

Paterson ruled the state from March 2008 to December 2010, having been handed the keys to the city after his predecessor, Eliot Spitzer, was ousted and forced to resign over a prostitution scandal. Paterson found a way to use his political influence after leaving office and has been a regular figure in the casino scene. Most notably, he has ties to Las Vegas Sands, which has had its eye on New York for years, and serves as a senior adviser to the casino operator’s president and chief operating officer, Robert Goldstein.

Time for investors to abdicate the Crown

New coronavirus cases in Australia have been negligible for two months now, and yet, restrictions against normal human activity in the country continue. You can read about them, province by province, over here. Australia’s lockdowns have been extremely strict, but also unpredictable. Every few days we hear of one easing up and another one going into effect. Melbourne ended the country’s strictest lockdown at the end of October, but then the whole state of South Australia went into another severe 6-day lockdown after a cluster of 23 cases was found a few days ago.

Australia has proven to be frenetic with lockdowns, very quick to shut down local economies entirely over any sign of virus activity. Obviously this method of managing the situation has had a seriously negative effect on business, especially casinos, to the point that investors with any significant amount of capital there should seriously consider pulling out entirely. I believe at this point that any stake in Crown Resorts especially, should be liquidated. The stock has had a nice 16% bump since Melbourne came of out lockdown, and it’s now time to get out.

It’s not even the lockdowns themselves that are the biggest problem here. Much worse is the inherent unpredictability of it all. If Australia had a lockdown policy something along the lines of “OK, we’re going to try this one more time for X days all over the country and after that no more lockdowns period,” that would be one thing. It might provide some rational base for some kind of economic calculation. But of course virus clusters will keep reappearing and seemingly the severe responses will keep coming. How anyone is supposed to invest in such an environment is beyond me.

Australia also has another serious covid problem though, triggered by its support for an international investigation on the origins of the virus back in April. China’s Communist Party was none too happy about this initiative, and so Xi Jinping has responded with the wrath of the punitive tariff. Australian barley, beef, wine, coal, and cotton are all being targeted, and this is no small matter. China is by far Australia’s biggest trading partner, with 40% of Australia’s exports going to the Chinese, and 27% of its imports coming from there.

Macau full-year GDP to fall, but not as much as previously forecast

In light of all the bad news Macau has had to face this year, there is a little bit of good news. While the overall economic picture for the gambling city is dim in 2020, it appears that it won’t be quite as dim as previously expected. This doesn’t mean that there is any reason to celebrate yet, but at least the losses won’t be as great as once thought. Macau’s gross domestic product (GDP) for 2020 is expected to be reduced by around 56%, but this is less than the 60.9% that had been calculated earlier.

In a meeting of the city’s Legislative Assembly last Friday, Macau Secretary for Economy and Finance Lei Wai Nong shared the findings, which include quarterly drops in GDP seen since 2020 began. Starting in January, each consecutive quarter has brought dips of 48.7%, 67.8% and 63.8%, respectively for each quarter, and the last quarter isn’t expected to provide much better news. Recent news showing that exports have increased in the third quarter will help the final-year GDP numbers, but by how much won’t be known until January. 

To help stave off further losses, Macau is hoping Chinese mainland tourism and domestic demand will continue to provide a foundation for a recovery. Lei explained that domestic demand “represents approximately 66% of the city’s GDP, and the recent lifting of certain travel restrictions should help the economy improve. Already, in the third quarter of the year, arrivals increased by 1,408.6% over the previous quarter, but are still off by 92.4% from a year earlier. 

The middle of the last quarter of 2020 isn’t aiding in Macau’s recovery process. According to data just released by the Gaming Inspection and Coordination Bureau, November saw gross gaming revenue (GGR) at the city’s casinos drop 7.2% over October’s results, as the gambling operators reported a total GGR of $845 million (MOP6.75 billion). A month earlier, that figure stood at $909.4 million (MOP7.27 billion). That’s a drastic decline from the $2.86 billion (MOP22.88 billion) from a year ago, and helped Macau’s GGR total across the first 11 months of the year fall 80.5% compared to the same period last year.