Online Casino News From Around the Globe

Fiscal Cliff Could Damage Land Casinos While Increasing Online Gambling
Dec18

Fiscal Cliff Could Damage Land Casinos While Increasing Online Gambling

The term “fiscal cliff” is being thrown around a lot in the past few months. Basically it means that on December 31, 2012 a number of tax cuts and government spending cuts will come into effect. Many fear that if something is not done by the Federal government to change the impending situation, the U.S. economy could easily go back into a recession which will result in increased unemployment and loss of investor confidence. Like many industries the gambling industry could be severely affected should the fiscal cliff happen. According to Moody’s Investors Service there are certain industries like the gambling, automotive, newspaper and lodging industries who will feel the pinch more than others should the budget remain unchanged. With disposable income being limited land casinos in Las Vegas would be hit hard as consumers will have difficulty in enjoying what is termed “destination gambling”. The cost of physically traveling to Las Vegas would deter many as unlike other industries it is not just a matter of cutting down. One of the main difficulties for the gambling industry would be to downsize. This is particularly true for land casinos which as part of their existing licenses are required to meet certain staff requirements. Added to this is the fact that many casinos have large debt obligations and are highly regulated which means a lack of flexibility. The flip side to this coin is the online gambling industry. Many experts believe that in contrast to land casinos there will almost certainly a major upturn in internet gambling. This is simply due to the fact that there are no travel expenses and one can have a flutter from home or on any mobile devices.  Where disposable income is limited online gambling provides the ultimate solution for gamblers who are looking to continue enjoying their pastime. Unlike land casino online gambling operators do not face the problem of employing staff and infrastructure. It is for this reason that many see the future of gambling in the online arena. It is seemingly getting more difficult for land-based casinos to compete for the gambling dollar as they have inherent expenses which make profitability more...

Read More
Zynga Hoping For Christmas Gift From State of Nevada
Dec09

Zynga Hoping For Christmas Gift From State of Nevada

It has only been a year since the global online gambling world was changed by a dramatic decision by the U.S. Justice Department. They decided to change their ruling on the infamous Wire Act of 196 which up till now was the main legislation preventing legalized internet gambling in the U.S. The last twelve months have seen some hectic maneuvers by many gaming and gambling interests who recognize the untapped potential of the U.S. online gambling market. One of these major players is the giant social gaming maker Zynga who has had a tumultuous rollercoaster ride in the last year. In a nutshell social gaming has been given a new focus with many looking to monetize these games into real money gambling options.  Zynga for one is in desperate need to turn their companies fortunes around as their share price has plummeted by nearly 80% since their IPO launch in December 2011. Their real money ambitions have started growing real legs as they announced partnerships with bwin.party to launch a real money online poker option in the first half of 2013. With the festive season among us Zynga is looking or theultimate gift from Santa to turn their fortunes around. They recently applied for an “Application for a Preliminary Finding of Suitability” with the Nevada’s Gaming Control Board. This is seen as the first step to get an online gambling license in the state of Nevada. Zynga is preparing itself for the real possibility of legalized nationwide online gambling being offered in the U.S. According to chief revenue officer Barry Cottle of Zynga,” We anticipate that the process will take approximately 12 to 18 months to complete. As we’ve said previously, the broader U.S. market is an opportunity that’s further out on the horizon based on legislative developments, but we are preparing for a regulated market.” Zynga’s share price was up on the news of their application but the road is riddled with obstacles. Zynga can not only gamble all their chips on legalized gambling but will have to adapt their overall products from the obsolete desktop platform to the ever growing mobile platform. Zynga is facing tough competition from established casinos and gambling companies who have already applied for online gambling licenses in the state of Nevada. It is hard to believe that only a few years ago Zynga seemed unstoppable when it came to social gaming. It now has to compete with new companies like betable who offer social gamers the chance to monetize their free-to-play games. Betable is worth watching as they essentially take care of all the legalities of any social gaming company who are...

Read More