Online Casino News From Around the Globe

Macau Casino’s Opting To Diversify To Compensate For Declining Revenues
May25

Macau Casino’s Opting To Diversify To Compensate For Declining Revenues

The world’s largest gambling hub Macau has recorded record declines in gaming revenues in the last 12 months. The ongoing crackdown on corruption by the Chinese Government in what used to be the playground for Chinese VIP’s and officials has now got gaming companies realizing that they will have to emulate Las Vegas in that they will need to diversify away from gambling and into entertainment. Currently over two thirds of revenues in Las Vegas are from non-gaming sources. Vegas has become a tourist and entertainment destination and is no longer solely associated with gambling. This model is what the likes of Macau’s gaming giants are looking to follow whether by choice or realization that the current corruption crackdown is not easing up. Melco Entertainment Ltd. and Galaxy Entertainment Group are set to open up resorts on Wednesday 27 set to be worth over $3.2 billion. President of Melco’s Studio City resort project JD Clayton commented on the new resort launch,” We have really focused our attention on things beyond gaming to reach out for a new group of people and tap into new revenue streams.” The Macau Government is taking active measures to force casino firms to follows the Vegas resort style model and are going so be giving incentives to gaming companies like Wynn Macau and Sands China gaming tables based on non-gaming amenities. Gaming revenues still account for 90 percent of overall revenues in Macau so the process of adopting the Las Vegas model is complicated and a far way off. In what was initially seen as a publicity stunt by the Chinese government to crackdown on public corruption, has now turned into a major long term focus shift by the authorities to diversify Macau’s long term economy away from gambling and into a resort and tourist...

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Study Shows Social Networks Offer Safety Net For Online Gamblers
May24

Study Shows Social Networks Offer Safety Net For Online Gamblers

Gambling companies spend millions of dollars on building psychological profiles of their potential clients and getting to know what motivates them to spend money is key to their long term success. The mindset of gamblers is a fascinating topic as it has direct consequences on if and why we fork out our hard earned cash. A recent study by Dr. Eugene Chan at the University of Technology in Sydney Australia indicates a direct link between social networks like Facebook and our willingness to engage in risky activities like online gambling. The study shows that those of us who spend time on our favorite social networks like Facebook get a sense of comfort knowing that our circle of friends are there to help us in times of needs, and will act a safety net in the event of financial losses. Chang believes that those of us actively browsing Facebook are more prone to risky behavior like binge drinking, financial risks and gambling. Chang went on to warn Facebook users to be cautious when purchasing stocks and even suggested that governments consider implementing laws that regulate people from using online gaming and financial sites after using Facebook. It is not only Facebook that Chan warns of but also includes other social networks like Twitter and...

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FanDuel Offers Refuge To Former Zynga Employees
May22

FanDuel Offers Refuge To Former Zynga Employees

Zynga’s attempt to restructure their company in the last few years has resulted in a serious shakeup in their workface. Their attempts to join the fantasy sports niche with their Zynga Sports 365 product is just one of the many projects that have been shutdown by their new/old CEO Mark Pincus. In an interesting move fantasy sports giant FanDuel have hired no less than 38 former employees of the Zynga Sports 365 development team and will be creating a dedicated new department which will be headed by former VP in Zynga. Mike Taramykin. A spokeswoman for FanDuel Justine Sacco, commented on the move,” There is a ton of sports tech talent down there just because of the presence of EA Sports and Zynga. FanDuel is scaling incredibly fast. We’re going to be more than doubling our headcount this year. This gave us an awesome opportunity to scoop up an incredible talent pool that complements our existing product. They’ll really give us the ability to deliver new features at a good pace as we continue to grow.” As we have reported extensively in the last year, FanDuel are in a race with their arch rivals DraftKings to cement themselves as the number one brand in daily fantasy sports betting. Sacco made it clear that FanDuel are set to grow and by the end of the year will double their workforce from the current 80 to 160 employees. Zynga Sports 365 was launched with must fanfare last year but became the victim of another set of layoffs this month. On their side Zynga officials were not too keen to comment on FanDuel enjoying the benefits of their former sports department but re-iterated what current CEO Pincus said at the Q1 earnings call. Pincus said,” Tighter, more nimble teams can drive faster innovation and deliver more valuable experiences for players. … I’ve been encouraged in my first few weeks by the level of talent and commitment throughout our company. But, I’ve also heard teams express frustration. They want to move faster and take more shots on...

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Social Poker Revenues Declining
May21

Social Poker Revenues Declining

New data has been released by SuperData Research which sheds some interesting light on the social poker market. We all remember the days when social gaming giant Zynga ruled this market but the last few years have not been good for Zynga. Despite still making up about 61 percent of this market Zynga’s poker audience has tanked by 44 percent in 2014 to reach about 20 million active users. The biggest threat to Zynga is that of WSOP Poker App from Caesars/Playtika who according to the report will overtake Zynga Poker on mobile in 2015. In terms of the overall pictures, revenues for social poker have shown a pattern of decline in the last few years both in terms of revenues as well as moving towards mobile platforms. In 2013 revenues were $203 million while in 2015 are estimated to go down to $179 million. In 2017 estimates are in the region of $156 million. The report found that standalone poker apps were less popular than general casino-style apps that offer poker games as part of an entire suite of games like the DoubleDown Casino from IGT. WSOP players have doubled in the last year to reach about 3.25 million this...

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Fantasy E-Sports Startup AlphaDraft Receives $5 Million In Funding
May20

Fantasy E-Sports Startup AlphaDraft Receives $5 Million In Funding

While gambling is still widely restricted in the U.S. the fantasy sports arena is providing a legally real money cash option to those of us looking for the thrill of winning cash. The latest spinoff from fantasy sports is e-sports where players get the chance to play their favorite computer game in fantasy leagues for real money. Startups like AlphaDraft and Vulcan are leading the way in e-sports as they are tapping into a market audience of hundreds of millions who enjoy the gaming market. AlphaDraft is doing for gaming what DraftKings did for fantasy sports. They like their competitors Vulcan have attracted serious financing to the tune of $5 million. In fact the battle between AlphaDraft and Vulcan seems to mirror that of DraftKings and FanDuel. Vulcan recently raised $12 million from Creative Artists Agency and includes investments from Melo7 Tech Partners who was founded by former Knicks player Carmelo Anthony and Former NBA Commissioner David Stern. Just like daily fantasy sports a few years ago, the opportunity to get in on the ground floor is not missed by investors who have seen the likes of DraftKings and FanDuel grow into billion dollar companies in the space of a few years. Online fantasy sports are one of the faster growing sectors in the last few years will all the combined fantasy league sponsors topping $263 million this year alone. This is more than double that of last year. AlphaDraft will payout out over $5 million in prizes and cash this year and is aiming to reach 1 million monthly active users by the end of the year. AlphaDraft are optimistic as to their growth forecasts and estimate that e-sports will generate over $500 million by 2017. The interesting question is if e-sports can really be compared to daily fantasy sports in terms of the revenue potential. The question also needs to be asked if DraftKings and FanDuel will join the e-sports market either independently or perhaps by acquiring the current main...

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