Online Casino News From Around the Globe

Bwin.party At Vital Crossroads With Release Of 2013 Results
Mar15

Bwin.party At Vital Crossroads With Release Of 2013 Results

Back in August bwin.party started preparing investors for disappointing full-year revenues for 2013. At the time they estimated a 17% drop due to major structural changes within bwin’s target markets.  Well their estimates were not far off as they just released their annual report in which total revenues for 2013 fell 19% from €801.6 million in 2012 to €652.4 million in 2013. As we reported extensively bwin.party made a strategic decision to focus on specific global markets and abandon others. In 2013 they stopped player registration and acquisition in over 18 countries. The strategy of “lean and mean” that bwin.party have adopted has put CEO Norbert Teufelberger under pressure to deliver the goods. Depending on which side of the losses you sit, the present figures and future forecasts can be interpreted anyway you choose. Teufelberger chose of course to look at the positive aspects of the 2013 figures. He said,” Well, looking at the numbers, it obviously seems to be that way, but it was also a year where we very proactively addressed a lot of the legacy issues of the merge. We proactively got out of 18 markets, so we stopped acquisition of newer customers in those markets, and that’s obviously reflected in our numbers this year.” The growing online gambling market in the U.S. is seen as an integral part of bwin.party’s future growth plans, Teufelberger was quick to point out that in the ever important mobile sector, bwin.party are on par with their competitor’s growth rates. New Jersey is key to bwin.party aspirations for increased revenues. They are already involved with partypoker and Borgatapoker in New Jersey which is growing slowly but steadily. Bwin.party’s most profitable market is that of Germany which accounts for 25% of their entire revenue. Another interesting detail was that of the main sources of revenue generators. Here there was a key change from 2012 where casino play was the main revenue generator with 33.8% and sports betting was 32.8%. In 2013 this was swopped around with sports betting accounting for 36.1% and casino play making up 33%. As we reported earlier bwin.party are expecting increased revenues from the World Cup in Brazil. On the World Cup expectations Teufelberger said,” And let’s not forget we have a World Cup ahead of us…This is now the fourth time we are enjoying a World Cup in my history with online gaming, and we believe it’s going to be the biggest event ever.” While currently operating only in New Jersey, bwin.party have applied for a licence in Nevada and hope to be part of the growing U.S. online gambling...

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Singapore Joins Countries Who Opt To Regulate Bitcoin
Mar14

Singapore Joins Countries Who Opt To Regulate Bitcoin

The honeymoon period for Bitcoin seems to be ending as more governments are finally having to implement controls and regulations on this volatile commodity. While there is so much talk about Bitcoin there is still the element of the unknown which frightens governments. The concept of having a virtual currency that you cannot hold in your hands and which no bank issues is too much to handle for many. Added to that is the undeniable fact that most if not all governments see virtual currencies as a threat to their established banking institutions which up to now enjoyed a virtual monopoly. The potential for Bitcoin to drastically cut transaction fees has got banks agreeing on the fact that they need to exert pressure on governments to regulate Bitcoin. The bad publicity of the Mt. Gox Bitcoin exchange has already led to Japan announcing their intention to redefine virtual currencies as a commodity which would be subject to restrictions. The latest country to get involved in the Bitcoin debate is that of Singapore. The Monetary Authority of Singapore (MAS) announced on Thursday that they intend to regulate virtual currencies in order “to address potential money laundering and terrorist financing (ML/TF) risks.” In a statement of intent the MAS said that any firm who buys, sells or facilitates the “exchange of virtual currencies for real currency” will be required to “verify the identities of their customers and report suspicious transactions to the Suspicious Transaction Reporting office.” Singapore follows Russia and China who have also banned the use of Bitcoin as legal tender. While this latest development is another setback for Bitcoin, the overall hope is that consumer demand will succeed in maintaining Bitcoin as a growing online payment option. While no one denies there are teething problems, the potential for ordinary consumers to save billions is there for anyone who wants to...

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Zynga Releases Hit It Rich! Ted Slots Game
Mar14

Zynga Releases Hit It Rich! Ted Slots Game

The “back to basics” philosophy of newly appointed CEO of social gaming giant Zynga Don Mattrick seems to be yielding results. Currently Zynga are behind Caesars and Double Down in the social casino race but are fighting back. More importantly their share price is slowly rising and has been above $5 for a while. This is not to be taken for granted as there was a time when it lost up to 70% of its IPO launch price of $10. Zynga’s decision to go back to basics and focus on social gaming seems to be working. They have been releasing a lot of slots that have an entertainment brand. These include the popular television series Duck Dynasty, The Terminator, Sex and the City, The Wizard of OZ and others. They also recently revamped their Zynga Poker for Mobile and released their Riches of Olympus slots. In line with capitalizing on well-known themed slots, Zynga have just released their new casino slots game featuring the unforgettable Ted. For those who do not remember this obnoxious yet hilarious stuffed animal starred alongside Mark Wahlberg in the 2012 movie hit. Hit It Rich! Ted will have you in stitches as you get to relive the antic of Ted in a slots that even has video clips from the movie as Zynga explained,” With beautiful artwork, authentic sounds and core slots gameplay, Hit It Rich! Ted blends the beloved Ted brand with slots gameplay that mirrors what players see on the casino floor. Your play is enhanced by head-to-head challenges, bonus games, social gifting with friends, and the chance to unveil and watch real clips from Ted.” Hit It Rich! Ted allows you to enjoy a complete social slots experience and offers the ability to connect with friends which creates the environment of a casino floor. Currently Ted is available to enjoy via Facebook and is offered in seven...

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Study Confirms Many Social Casino Gamers Would Try The Real Deal
Mar13

Study Confirms Many Social Casino Gamers Would Try The Real Deal

The amount of cash being invested by gambling company’s sin their social casino divisions is astounding. The most talked about acquisition was that of IGT’s Double Down Interactive on 2012 for $500 million. At the time many thought that the gaming giant had a lapse in judgment. Since then we all know that social casino games are amongst the fastest growing sector in online gaming. Whether it be Caesars or IGT, their respective social gaming divisions are becoming a ray of light in the overall company results and future forecasts. The argument around social casino games is fierce. Casinos claim that they are just offering their regular gamblers an additional element to their gaming experience. Critics however have warned that social casino games act like a Trojan horse. The thinking here is that casinos deliberately offer identical looking casino games with virtual money which normalizes gambling. Besides that anti-gambling voices claim that casinos are well aware of how easy it is to convert free-to-play casino players to the real money option. A report by gaming convergence analyst Traffic Generation seems to confirm this theory. They found that a whopping 44% of social slots players would play their familiar free-to-play games at a physical casino or online. With the U.S. online gambling market opening up, the potential to convert millions of Facebook slots players to real gambler sis there. With social casino games always featuring highly on Facebook’s most popular games, the customer base of over 1 billion users is too attractive for gambling companies to...

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New Jersey Online Gambling Growth Slows Down In February
Mar13

New Jersey Online Gambling Growth Slows Down In February

Last month we reported on the 28% growth rate of New Jersey in their online gambling figures. Of all the three states offering legal internet gaming, New Jersey is under pressure to live up to the expectations as they are have the biggest potential customer base. It is still too early to tell if New Jersey will come close to the estimated annual revenues of $250 million to the $1 billion of Gov. Christ Christie. Let’s not forget that New Jersey’s online gambling industry is only four months old. The latest figures from New Jersey have been released for the month of February which show a significant decrease from the previous month’s growth rate. All the Atlantic City gambling websites recorded a modest 9% increase for the month with $10.3 million in revenue generated.  In February online sites won $10.3 million which was up from the $9.5 million in January. The Atlantic City casinos recorded a decline of 1.4% in winnings from the same period in 2013 to $209.4 million. Besides online revenue, all the state casinos were down 6.2% from a year ago and took in just under $200 million. While many would be disappointed at the slow growth rate, it is fair to state that online gambling in the U.S. is still in its early stages and the best should still be...

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