Online Casino News From Around the Globe

888 Holdings Dish Out Special Dividend After Excellent Results

888 Holdings have announced a 33 percent rise in 2014 earnings and will be handing out a 7 cents dividend, Chief Executive Brian Mattingley announced the good news on Tuesday and said that they are “constantly appraising opportunities” as they look for acquisitions to bolster their growth Last month we reported on the talks with William Hill which would have seen a giant takeover. These failed at the last moment as there was disagreement of a major stakeholder over the price. 888 Holdings like other UK bookmakers have been hit hard by the PoC tax that came into effect in December. Here bookmakers are now been taxed on any bets taken from British based gamblers irrespective of where they are located. In the past may UK bookmakers operated from tax havens like Gibraltar which enabled them to pay a much lower tax rate. Other factors set to cut into UK bookmakers profits are tax changes across Europe. These will affect the smaller gaming operators more as the bigger players will look to expand and grow in order to soften the financial impact of the new tax systems. Mattingley said,” We are constantly appraising opportunities. Infill acquisitions are something that, if you are a company of our size in the industry, you need to get critical mass, and to buy back some of the core earnings lost to UK Point of Consumption (PoC) Tax.” The share price of 888 Holdings was up 2.5 percent to 156.5 pence as core casino business contributed to the 14 percent rise in revenues. 888 were in generous mood and said they would recommend a once off 7 cents per share dividend as well as a final dividend of 4.5 cents per...

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Zynga To Shutdown Six Titles Next Month

Social gaming giant Zynga is once again showing signs of further instability and is leaving investors scratching their heads again. Despite the optimistic speeches from CEO Don Mattrick there is nothing worse for consumer confidence than instability and constant changes. Zynga have announced that as of April 30 they will be shutting down six more titles including Zynga Slots, Duck Dynasty Slots, Riches of Olympus, Ghost Guild, FarmVillage and Pioneer Travel. This news follows the end of Zynga’s real money partnership with bwin.party in the UK which saw the closure of ZyngaPlus casino and poker products. In a statement on their Slots Facebook page Zynga confirmed that they will be shutting down these titles in order to focus on new games that will be released into the market. In a statement they said,” We don’t take the decision to sunset our games lightly but we made the tough decision to close these games so our team of game makers can put their passion, energy and time into developing other content for you.” The rise and fall of Zynga has been well documented by us as they continue under the leadership of Don Mattrick to regain their former top dog...

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GVC Could Be Latest Company Looking To Acquire Bwin.Party

The rumors surrounding the possible acquisition of Bwin.party continue to do the rounds. The latest round includes speculation that online gambling company GVC Holdings have their eyes on their rivals Bwin.party. According to CEO Kenneth Alexander GVC is looking for something that could transform the company, much like Sportingbet did for them in 2013.Sportingbet was acquired in 2013 and operates in over 24 countries providing everything from online poker casino games and sports betting on mobile. This acquisition now accounts for over half of GVC’s revenues. GVC has had a good year with pretax profits over doubling in 2014 to $44.95 million and revenues spiked by 23 percent to reach €224.8m. Alexander declined to elaborate on a possible valuation for Bwin. On their side Bwin remained unclear and said in November they were in talks with a number of parties concerning a “variety of potential business combinations” that could end up in an offer being made for their...

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Four Days of March Madness Generates More Than Entire Political Campaign

The popularity of sports betting in the U.S. is growing by the day. The conservative estimates are that over 40 million people across the U.S and Canada indulge in some form of sports betting. It does not surprise anyone that fantasy sports betting companies like FanDuel and DraftKings are valued at over $1 billion dollars. An interesting article in the Washington Post gives us an idea of just how big the sports betting sector really is. The article points out that about $7 billion was spent on the entire 2012 election pales. While this sounds an astronomical amount, it pales in comparison to sports betting. This month’s March Madness NCAA Tournament has seen record wagers being placed. It is estimated that the same amount of $7 billion was gambled from Monday to Thursday in the last week alone. To put it in simply in four days of March Madness Americans spent more money gambling than the entire 2012 Republican election pale. Even more interesting is the fact that that over 40 million people are responsible for this amount which means about 12.6 percent of the population of 316 million people gambled in the NCAA Tournament. In contrast about $3.7 billion was spent and raised on the 2014 mid-term elections. This sum was raised from just 666,773 individuals which means only about 0.2 percent of the population. Bottom line is that Americans are spending billions on sports betting whether legal or illegal. The growing debate over whether sports betting will be legalized is becoming rather farcical as the politicians cannot ignore the fact that average Americans far prefer to have a bet on their favorite team than getting involved in...

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Amaya Gaming Granted UK Gaming Licenses For PokerStars and Full Tilt

The parent company of PokerStars, Amaya Gaming have got some welcome news as they have received licenses from the UK Gambling Commission for PokerStars and Full Tilt to operate online poker in the UK. Amaya and PokerStars have been in the headlines of late for the wrong reasons. Amaya is still under investigation in Canada for irregular share trading at the time of their acquisition of PokerStars while the latter is facing a tax evasion claim of €300 million in Italy. The latest licenses from the UK gambling Commission replace the current temporary continuation licenses PokerStars and Full Tilt Poker have bene operating with. In addition Amaya’s B2B online casino business also have obtained licenses that will enable them to continue supplying UK online operators with technology and gaming content. Head of Corporate Communications for PokerStars and Amaya Gaming, Eric Hollreiser commented on the good news,” We are very pleased to receive operating licenses in the UK, which is a large and growing market for us. We continue to build upon PokerStars’ leadership in poker in the UK and intend to leverage our scale and expertise to become market leaders in casino and sports betting.” PokerStars and Full Tilt have gone the extra mile to ensure that they continue with their squeaky clean reputation and have volunteered to adhere to the highest standards of player...

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