Online Casino News From Around the Globe

Virginia Governor Signs Fantasy Sports Bill
Mar08

Virginia Governor Signs Fantasy Sports Bill

Last month’s approval by the Virginia Legislature of the SB646 Fantasy Contests Act has been given the final approval by Gov. Terry McAuliffe on Monday. This makes Virginia the first state to adopt legislation that formally approves daily fantasy sports to operate. This is a welcome relief for DFS operators as it comes at a time where stability and regulatory compliance are needed to silence the critics. In a statement released by the Governor’s office they said, that the bill would,” empower Virginia to regulate this emerging industry and keep consumers safe from abuses.” While the major DFS players like DraftKings and FanDuel will be relieved at the news, smaller operators will find the $50k initial registration fee outlined in the bill as a burden. Gov. McAuliffe signed the bill as is without amendments. Some of the requirements of the bill besides the $50k registration fee include obligation of operators to register with the Department of Agriculture and Consumer Services. Players on the sites will have to be over age of 18 and operators will be required to separate player funds from operational funds which will ensure they always have money to payout their players. In reaction to the bill, Director of public affairs for DraftKings, Griffin Finan released a statement and said,” Today, Virginia became the first state in the nation this year to put in place a thoughtful and appropriate regulatory framework to protect the rights of fantasy players. We thank Governor McAuliffe for his leadership and advocacy and are hopeful that other states across the country will follow Virginia’s lead. We will continue to work actively to replicate this success with dozens of legislatures and are excited to continue these efforts.” FanDuel through their counsel Cory Fox said,” Governor McAuliffe and members of the Virginia legislature took a thoughtful, deliberative approach to establishing a law that safeguards fantasy sports while installing consumer protections. Virginia showed real leadership in being the first state to pass smart regulations this year and we hope to see more states follow Virginia’s lead in the months...

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Nevada Opens Discussions On Future Of DFS
Mar07

Nevada Opens Discussions On Future Of DFS

Last year’s decision by Nevada to ban DFS operators from operating in the state without a gambling license was the start of a trend by other states who have since followed suite. The free ride the likes of DraftKings and FanDuel have enjoyed the past few years is definitely over and the only question is just how much regulation is going to be introduced and when. While Nevada was the state that set a precedent in claiming that DFS is nothing more than gambling, the question cynics are asking is if this sudden epiphany is just a money grab from an industry that was breaking all records in growth and handing our hundreds of millions of dollars. The competition to regular gambling was certainly a factor in the sudden interest of politicians who seem to be influenced by large casino companies not happy with DFS operators getting a free ride. Gov. Brian Sandoval of Nevada this week chaired the first meeting of the Nevada Gaming Policy Committee in Las Vegas. The aim of the committee is to find a way which will allow Nevada to offer DFS but in a regulated and safe manner. Sandoval sounded open to the DFS operators returning to Nevada and said in his opening statement,” In order for our state to sustain its edge in an increasingly competitive industry, we must continue to expand, progress and embrace the potentials of the 21st century,” CEO of DraftKings , Jason Robins welcomed the discussion but was wary of the traditional gambling license regulations in Nevada as he believes it can stifle innovation which the DFS industry prides itself on. He said,” We’re all for regulation, we just want to make sure it’s thoughtful and appropriate for our industry and that we aren’t placed into a box simply because that’s the existing box.” The results of the Committee will only be known next year when the Nevada legislature convenes. Currently they are set to meet and draw up policy recommendations for both of Nevada’s gambling regulatory bodies, the Nevada Gaming Control Board and the Nevada Gaming...

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FanDuel Capitulates To Texas AG Ken Paxton
Mar05

FanDuel Capitulates To Texas AG Ken Paxton

In January Texas Attorney General Ken Paxton declared DFS to be illegal gambling. This led to FanDuel and DraftKings challenging the AG as they are fighting to sustain their diminishing market share. It is being reported that FanDuel have capitulated to Paxton and have agreed to cease operations in Texas on May 2. In turn AG Paxton said he would not pursue any legal action against FanDuel over their contests. FanDuel will however continue to operate in Texas but with their free games mode and not the pad contests. In a statement Paxon was sounding pretty pleased with himself after making FanDuel an offer they could not refuse. He said,” I commend FanDuel for responsibly and pro-actively working with us to reach this settlement.” Unlike their rivals FanDuel, DraftKings released a statement through their attorney Randy Mastro and said they belief DFS “was perfectly legal under Texas law” and they were looking forward to arguing this in a court of law. Texas makes up for around 8 percent of the DFS sector and FanDuel’s retreat will cost them heavily. The burning question is if their strategic retreat will be perceived as a sign of weakness and capitulation by other states who are pondering as to whether or not to clamp down on these...

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Illinois Online Lottery Sales Set To Halt Due To Political Squabbling
Mar04

Illinois Online Lottery Sales Set To Halt Due To Political Squabbling

The state of Illinois was the first to sell online lottery tickets in 2013 and have since generated $68m for education and construction projects in the state. However the state coffers may well have to do without these if they do not act quickly. The test program for online lottery sales in Illinois is expiring on March 25 and should lawmakers not take swift action to renew it, the online sales will have to stop. The problem is that lawmakers are not set to return to Capitol Hill before April 04. Online lottery sales in the US are not common as only the states of Michigan and Georgia offer online instant win games. Minnesota had the bragging rights of being the first to offer online scratch cards but were shut down last September after public outcries as to the similarity of slot machines. Of course political motives are been questioned as Republicans backed legislation last year to make the test phase permanent. This was however not to be as legislators adjourned for the year. Republicans have accused Democrats of stalling the extension as part of budget battle between Republican Gov. Bruce Rauner. As it stands there will almost certainly be a break in online lottery sales until the politicians get their acts into gear and start focusing on what is best for the state and its...

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Zynga Appoints EA Executive Frank Gibeau As New CEO
Mar02

Zynga Appoints EA Executive Frank Gibeau As New CEO

Without a doubt one of the biggest disappointments in the last few years in the gaming world is that of Zynga. The social gaming giant which boasted an IPO share price of $10 has had more twists and turns in the last five years that they would care to admit. The roller-coaster ride of CEO and Founder Mark Pincus has been no less rocky. From him firing himself to appointing Microsoft’s Don Mattrick, to firing Mattrick and rehiring himself as CEO. His latest move to step down again and appoint Electronic Arts Executive Frank Gibeau is yet another move to fix the biggest blunder Pincus made. While no one likes to be hear I told you so, Pincus has himself admitted that the lack of focus on the mobile market is one of the main reasons why Zynga has lost up to 85% of its value since their IPO in 2011. The efforts to remedy this have not been too successful and Pincus believes that Frank Gibeau may well be his best hope of fixing this. Gibeau was the reason for EA’s success with mobile hits like Madden and FIFA. He has also been on the Zynga’s Board of Directors the last seven months. Analysts are quick to point out Gibeau’s success story at EA where he succeeded in increasing EA mobile growth from $363 m in 2013 to $524m last year. The news of the new appointment sent Zynga’s share price rocketing by 8 percent in afterhours trading to around $2.32 which was a big thumbs up form investors as to their confidence in Gibeau. Currently mobile gaming is worth over $30 billion annually and Zynga is looking to restore their status as a major player in this sector. While their Zynga Poker is still one of the largest social poker apps out there, they made a major mistake when they tried to update it in 2014 and were hit by a backlash from the fans. Time will tell if Pincus has made the right move which would see Zynga reclaim their glory...

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