International Casino News

Macau Gambling Revenues Increase 12.5 Percent for Month of June

Jul05

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Macau Gambling Revenues Increase 12.5 Percent for Month of June

Posted by Victor on Jul 5, 2018

Macau Gambling Revenues Increase 12.5 Percent for Month of June

The recovery of the largest gambling hub in the world Macau continues. Figures releases from the Gaming Inspection and Coordination Bureau reported that gross gaming revenues increased 12.5 percent year-on-year in Macau to reach $2.8 billion for the month of June. This represents the 23rd consecutive month of revenue growth after the much talked about Chinese crackdown on corruption that started in 2014. This 12.5 percent increase was however way lower than the 18 percent forecast by analysts which resulted in share prices of Sands China, Wynn Macau, Melco International and Galaxy Entertainment falling. While Macau has succeeded in stabilizing the gambling market and making the former Portuguese colony less dependent on gambling, they will face competition from Japan who have passed the integrated resort implementation bill in the country’s lower house. All that is required is for the legislation to pass the upper house and this would result in legalization of regulated casinos in...

Delaware Casinos Reporting Good Returns On Sports Betting

Jul04

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Delaware Casinos Reporting Good Returns On Sports Betting

Posted by Victor on Jul 4, 2018

Delaware Casinos Reporting Good Returns On Sports Betting

While its early days still the sports betting market in the US has got off to a flying start. The state of Delaware was the first to offer legal sports betting outside Nevada with their three state approved casinos. According to figures released by the Delaware Lottery the sports betting handle has generated just over $7m in the first 20 days which is a very good start to what is expected to be a lucrative market. As we reported Delaware already had legislation in place for the legalization of sports betting which enabled them to be the first US state outside of Nevada to offer sports betting. According to the figures released the three state operators held $1m of the $7m wagered which represents a win rate way above the average 5% reported by most books. Delaware’s Lottery’s parlay sports betting offering which is powered by Scientific Games took in $125k from vendor fees from these winnings. Following them were Dover Downs Hotel & Casino and Harrington Raceway that accounted for $1.18m and $590k...

Bet365 Enters US Sports Betting Market With Hard Rock AC Casino

Jul03

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Bet365 Enters US Sports Betting Market With Hard Rock AC Casino

Posted by Victor on Jul 3, 2018

Bet365 Enters US Sports Betting Market With Hard Rock AC Casino

Following other international gambling operators. Bet365 has become the latest to stake their clam in the New Jersey sport betting market. It was confirmed that they have entered into an agreement to launch a sports betting service with the Hard Rock Casino in New Jersey. The New Jersey Division of Gaming Enforcement has approved a request between bet365 and Hard rock Casino which will come into play on July 21. This partnership comes less...

Playtech Share Price Plummets Due To Second Profit Warning For 2018

Jul02

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Playtech Share Price Plummets Due To Second Profit Warning For 2018

Posted by Victor on Jul 2, 2018

Playtech Share Price Plummets Due To Second Profit Warning For 2018

Playtech have issued a second profit warning for 2018 which resulted in the share price plummeting by 26 percent. The FTSE 250 gambling giant said in a trading statement that they expect their revenues from Asia in 2018 to be €70m lower than previously predicted. The main reason for their Asian woes continues to be the continued crackdown of gambling syndicates in Malaysia and increased competition in China. This decrease in revenues will affect...