Online Casino News From Around the Globe

Idle Gaming Releases Slots Of Fun Social Slots App
Mar19

Idle Gaming Releases Slots Of Fun Social Slots App

It’s always fun to follow new social casino developers as this sector is one of the most dynamic in the online gaming and gambling worlds. While the heavyweights remain Caesars, IGT and Zynga there are plenty of up and coming gaming developers that are there to ensure that we as players get spoilt for choice with new and innovative games. The San-Francisco based Idle Gaming is one of these companies which is well worth a look at. They are well known for their social poker app Fresh Deck Poker. They have just announced their latest addition called Slots of Fun which is available now for download on both Android and iOS for free. Idle Gaming like many other gaming companies have changed their focus to mobile devices such as tablets and smartphones as these are without a doubt the way to succeed in online gaming. Their flagship Fresh Deck of Poker has already over 5 million registered uses since its release in 2013 and has become the highest user-related social poker game in both the Android and Apple App Stores. Based on this success Idle Gaming have being building a suite of free-to-play casino games. Their CEO Stuart Lewis-Smith commented on their latest release Slots of Fun,” The team has worked hard to create an authentic slots action experience and to bring the very best in art and design to the world of social casino gaming with Slots of Fun. Our players have definitely responded, generating retention rates and average session lengths well above our expectations, and giving us overwhelmingly positive feedback.” Among the many features of Slots of Fun are 10 Unique slot machines which are designed with themes based on Jewel of the Nile or Roaring Reels to mention a few. One of the main characteristics of Idle Gaming’s Slots of Fun is the artwork which is loaded with custom reel symbols and avatars. All our readers are well aware of the tremendous importance of social casino games to their real money gambling parent companies. Idle Gaming’s Stuart Lewis-Smith was Head of Product Marketing for PartyGaming. We are seeing more and more investment in social casino games as they are able to magically transform into real money games in markets like the U.S. that are in the process of legalizing online...

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Caesars Gets Much Needed Boost After Obtaining South Korean Casino Licence
Mar18

Caesars Gets Much Needed Boost After Obtaining South Korean Casino Licence

The largest U.S. casino company Caesars Entertainment released their 2013 results last week. As we reported the numbers were not encouraging to say the least. Besides their Interactive division all sectors were down. The most worrying factor for Caesars is their massive debt which they plan through restructuring to bring down. Shares in Caesars jumped on Tuesday after it was announced that they have obtained a preliminary license to build a casino in South Korea. Asia is seen as potentially the most lucrative gambling market. Macau is currently the largest gambling market with revenues reaching over $45 billion annually and growing at a steady pace. Gambling mogul Sheldon Adelson recently was quoted as saying he would “do whatever it takes” to get a foothold into Japan. This latest news from Caesars could not come at a better time as they are under pressure to turn things around. Being the second largest casino company in the world after Las Vegas Sands comes with expectations from investors. In terms of the agreement Caesars formed a joint venture with the Hong–Kong based builder Lippo Group and OUE in Korea. CEO of Caesars Gary Loveman commented on the deal and said,” Foreign visitation to South Korea has grown significantly and we look forward to creating a world-class destination to further support Korea’s economic growth and tourism goals.” The 2018 Winter Olympics in Pyeonchang are expected to attract large numbers of visitors of which Caesars hopes to cash in on. Caesars shares got a boost of 3.5% on Tuesday on news of the proposed...

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UK Bookmakers To Invest Heavily In TV Ads Before Proposed Crackdown Begins
Mar18

UK Bookmakers To Invest Heavily In TV Ads Before Proposed Crackdown Begins

Gambling companies are in for difficult times as major changes are coming. As previously reported the two main headaches for the UK’s gambling powerhouses are the proposed offshore taxes or point of consumption tax and the imminent crackdown on FOBTs. Marketing and advertising have always been a major component in the strategy of gambling companies. It is estimated that anywhere between 20-30 percent of online revenues are invested back into marketing and advertising campaigns. A report in the Financial Times points out the increased spenditure that the big five gambling companies are planning in an effort to minimize the effects of the proposed changes. The Soccer World Cup is coming up in the summer and millions of pounds are being spent in an effort not only to attract punters for the tournament but to engage them as much as possible before the changes start kicking in at the end of the year. On Wednesday Chancellor George Osborne is expected to announce a 15% new tax on gross profits. Bookmakers like William Hill and Ladbrokes are already warning that the proposed changed will cost them tens of millions of pounds which need to be generated in other markets. We reported that the biggest bookmaker William Hill has shown their competitors the way in succeeding to expand to other global markets and with cost cutting measures. TV advertising stands to gain the most as the gambling companies go all out to increase their market share before the new regulations come into play. To get an idea of just how much money will be ploughed into TV advertising one only has to look at the overall marketing budget for 2013 which was £690. Of that about £150m was spent on TV advertising. With online gambling growth this figure is conservative and is expected to reach up to £200m.  Another headache for Gambling companies is the possible crackdown on the amount of gambling related ads allowed as complaints from the public have led to Culture Secretary Maria Miller ordering a review. It remains to be seen if the smaller bookmakers succeed in competing with the powerhouses like William Hill and Ladbrokes who have a better chance to weather the coming...

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Teddy Sagi’s Spending Spree Continues With Camden Stables Market Purchase
Mar17

Teddy Sagi’s Spending Spree Continues With Camden Stables Market Purchase

The spending spree of Playtech’s Teddy Sagi continues. In the last few weeks he has sold 15.4% of his stake in Playtech for a sizable £326m. Another major project was his recent intention to float SafeCharge of which he is a 90% owner. They are solution providers who specialize in Forex and online gambling sites. His latest venture involves his purchase of a 50% share of London’s Camden Stables Market. The deal is reportedly worth over £400m. Sagi purchased the property from Israeli Tycoon Bebo Kobo. The deal includes the Hawley Wharf which is zoned for 170 homes including an arthouse cinema and a school. Sagi expressed his delight at the deal as the Camden Stables Market goes back to the 19th Century and its stalls attract 40 million visitors a year. Sagi was full of praise for Kobo and said, “Kobo invested heavily in developing the project over the years, and turned the area into one of London and the world’s premier tourism and entertainment venues. He spent years in finding and choosing the right buyer. I thank him for choosing me to continue this important project. We believe that Camden Stables Market has huge tourism and business...

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Mt.Gox Demise Leads To Legal Suits Against Japan’s Mizuho Bank
Mar16

Mt.Gox Demise Leads To Legal Suits Against Japan’s Mizuho Bank

The fallout from the demise of one of the biggest Bitcoin exchanges MT. Gox continues. As we reported the company admitted to serious security lapses which resulted in almost all the 750,000 customer Bitcoins as well as 100,000 of their own going missing, All in all about $500 million in Bitcoin has disappeared. What exactly happened to them is still unclear Mt. Gox is being accused of everything from massive fraud to criminal negligence. With such huge amounts of cash unaccounted for, investors are looking for heads to roll. The latest head on the chopping block is that of Mizuho Bank which one of Japan’s largest lenders .They have been added as a defendant on Friday to an existing U.S. lawsuit against Mt. Gox. The charges include aiding in fraud by providing banking services to the now notorious Bitcoin exchange. If the U.S. front is not enough, Mizuho Bank were also named in a class-action lawsuit in Canada where they are charged with security breaches that led to “the pilfering of millions of dollars” in Bitcoins. Efforts to get a response to the charges from Mizuho today were unsuccessful as they declined to comment. Mizuho reportedly held non-Bitcoin currency on behalf of Mt.Gox and their customers. The U.S. suit further alleges that Mizuho knowingly profited from the fraud by not separating the funds from Mt.Gox and those of its customers. There are further damaging reports which include a recording which was leaked on the internet in where a Mizuho manger “requests” that Mt. Gox CEO Mark Karpels close their account with the ban due to compliance issues. He warned of serious damage to Mt. Gox should Mizuho have to forcibly close the account. We will follow the legal battle and how it affects Bitcoin as a whole with...

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