Online Casino News From Around the Globe

California Introduces Bill To Regulate Daily Fantasy Sports
Sep11

California Introduces Bill To Regulate Daily Fantasy Sports

The heated debate as to whether daily fantasy sports betting falls under the definition of real money gambling is till up for debate. However the state of California seems to be leaning towards categorizing it as just that. California Assemblyman Adam Gray announced this week that the state intends to amend legislation that would regulate the DFS industry. Gray filed an amended version of AB 1437 whose original purpose was to combat gambling addiction. However the new amended version is aimed at regulating DFS operators and is called the Internet Fantasy Sports Game Protection Act. In terms of AB 1437 DFS operators in the state of California will be required to apply for a license as well as pay a licensing fee based on a percentage of their gross revenue. On the player’s side there will be a taxation on winnings as well as minimum age of 21. Other requirements similar to real money gambling regulations include the option of a self-exclusion program as well as fines for DFS operator who do not adhere to the rules. These include anything from $1k for first time offence and go as high as $10k for fifth offense and higher. This latest move by the state of California to regulate daily fantasy sports has got many asking if this is the preamble for legalization of online poker in...

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U.S. Potentially The Largest Legal Sports Betting Market In The World
Sep10

U.S. Potentially The Largest Legal Sports Betting Market In The World

Global gaming research firm GamblingCompliance has called the U.S. sports betting market a “sleeping giant” as it believes that it could potentially become the largest legal sports betting in the market. With the NFL season about to kick off experts believe that up to $95 billion is expected to be wagered on the NFL and college football season. Most of this would be illegal as the only state to currently offer legal sports betting is that of Nevada. This year has seen six other states including Mississippi, New York, Indiana, Minnesota, South Carolina and Texas considering some sort of sports betting bill. Most notable is the state of New Jersey which has been fighting a long battle to get sports betting legalized in the Garden State. The figure of $12.4 billion in estimated annual revenues mentioned by GamblingCompliance would make the U.S. sports betting market bigger than the UK and 11 times bigger than Italy’s gambling revenues. The question over legalizing sports betting on a federal level has been ignited in the last year with traditional opponents like NBA Commissioner Adam Silver doing a turnaround and actually calling for a nationwide policy that would protect the integrity of the game while offering fans the option of a regulated sports betting market. The American Gaming Association this week released figures that show that only about 4 percent of the estimated $95 billion that will be spent this season on the NFL and college football season will actually be in the form of legal sports betting. AGA president Geoff Freeman went on to call for a change in policy as the current status of Nevada being the only state to offer legal sports betting was clearly failing, He said,” Illegal sports betting is reaching new heights of popularity in America. It’s clear that a federal ban on traditional sports betting outside of Nevada is...

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Paddy Power And Betfair Merge In £5 Billion Deal
Sep08

Paddy Power And Betfair Merge In £5 Billion Deal

In the last few weeks there have been some major deals in the gaming industry. Following the acquisition of bwin.party by GVC Holdings. Paddy Power and Betfair have agreed on a £5 billion merger that will create one of the largest online gambling business. The merger will follows last month’s reports of the planned merger and will see a combined group that has over 7000 employees and £1.2 billion in sales. The new group will be called Paddy Power Betfair with their headquarters in Dublin but still will maintain a significant presence in the UK. In terms of the deal Paddy Power shareholders will own 52 percent of the combined business with Betfair investors owning the remaining 48 percent. Job cuts are expected as part of the annual cost savings plans which will involve headcount reduction. It is expected that up to 80 percent of the combined annual revenues will come from the online business. Chairman of Paddy Power, Gary McGann said,” The merger of Paddy Power and Betfair will create a company of world class capability and people who will deliver substantial up-front synergies and a platform for very exciting business expansion.” Betfair chairman, Gerald Corbett gave his thought on the merger and said the deal makes “huge strategic sense by bringing together two industry leading and successful businesses and providing enlarged scale, capability and distinctive, complementary brands”. The move follows other gaming giants like Ladbrokes and Gala Coral who also agreed on a £2.3 billion merger in July. This latest deal is aimed at expanding UK operations which have been hit hard by new tax regimes and will see the new group expand in over 100 countries across Europe, the US and...

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Playtika Strengthen Dominance With  Big Blue Parrot Acquisition
Sep07

Playtika Strengthen Dominance With Big Blue Parrot Acquisition

The Israeli based social casino powerhouse Playtika have made another acquisition aimed at ensuring they remain at the top of the free-to-play  casino market. Playtika was purchased in 2011 by Caesars Interactive Entertainment in 2011 only a year after been founded. It is no secret that the main aim of social casino games is to create an additional user base for the real money version when and if it becomes legal in countries like the U.S. However in the last few years the social casino market has proved lucrative in itself as millions of avid fans are more than happy to pay for add-ons for their free-to-play games. Playtika’s latest acquisition is that it Big Blue Parrot (BBP) who are behind the popular Poker Friends app. The exact amount was not disclosed but Globes is reporting that it was in the region of $10 million. Among the original investors in BBP were 888 Holdings CEO Gigi Levy. Playtika have completed various acquisitions in the last few years including that of Buffalo Studios, Pacific Entertainment etc. CIE has seen an excellent return on their original investment as their mobile and social gaming revenue rose by 30.5% to $175.4 m in the most recent quarter. Co- founder and CEO of Playtika Robert Antokol commented on the acquisition,” Gilad Almog, BBP’s founder, together with his team, will enable us to continue expanding our reach in the global market and moreover to hold onto our position in Israel as the leader of the gaming industry.” Antokol was quick to point out that the deal would also strengthen the local Israel market. He said,” As a large web-based company in Israel, Playtika sees itself as supporting the overall goals of the local industry by giving opportunity to local entrepreneurs and innovators in the...

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Bwin.party Accepts GVC Holdings Bid Over 888 Holdings
Sep04

Bwin.party Accepts GVC Holdings Bid Over 888 Holdings

GVC Holdings recent threats to pullout of the deal with bwin.party have paid off. It has been confirmed that after a long fought battle, the board of bwin.party have withdrew their earlier recommendation of accepting 888 Holding offer in favor of accepting GVC Holdings offer. Bwin.party accepted the $1.7 billion offer from GVC Holdings after 888 Holding stated they could not justify putting in a higher bid. In terms of the deal sports betting will make up about 70 percent of the new groups revenue with about $5 billion on sports wagers expected a year. GVC Chief Executive Kenny Alexander will lead the new group and said,” I think unless you have scale you are going to struggle to compete. In combining GVC and Bwin we will create one of the market leaders in online sports betting… able to compete in this new landscape.” Bwin.party Chairman Philip Yea commented on the  deal,” In recommending the offer from GVC, the board has taken into account many factors including, but not limited to, the headline value per share and the consideration being offered, the level, timing and deliverability of the financial synergies to be generated and the enlarged Group’s growth strategy in an increasingly competitive marketplace. As a result of these and other factors, including the proven track record of GVC’s management team in creating substantial value for shareholders, after a carefully managed and diligent review process, the board has withdrawn its recommendation for the 888 offer and is now advising bwin.party shareholders to vote in favour of the offer from...

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