Online Casino News From Around the Globe

Record Online Gaming Revenues in July For New Jersey
Aug12

Record Online Gaming Revenues in July For New Jersey

The New Jersey online gambling market is still the largest of the three states where online gambling is legal. It is seen as the barometer for other states if and when online gambling in the US is expanded and is therefore important to follow even though the numbers generated are still pretty low. The last few months have seen positive growth and records broken in the Garden State. The New Jersey Division of Gaming Enforcement (DGE) has just released the July figures and there is reason to be pleased as an all-time record of $17.4 million was recorded. This is a 38% rise from the same period last year and is $1m more than the previous records set in June this year. In terms of the casino the picture remains the same with the Borgata remaining the market leader with $4m in combined poker and casino revenues. The Golden Nugget came in second place with $3.7m followed by Caesars Interactive Entertainment with $3.4m. The Tropicana came in fourth place with $3.2 million. As to be expected the top online poker operator was PokerStars with earnings of $754k in July which is a negative record for them in the Garden...

Read More
Gov. Chris Christie To Take Sports Betting Appeal To Supreme Court
Aug11

Gov. Chris Christie To Take Sports Betting Appeal To Supreme Court

The tenacity of New Jersey Gov. Chris Christie in his attempts to advance legal sports betting in the Garden State is certainly noteworthy. Over the last few years we have covered the legal battles and in the debate over legalizing sports betting in New Jersey and it isn’t over till the fat man sings. Only two days after the U.S. Third Circuit of Appeals rejected the sports betting law, Christie said in an interview with WFAN-660 AM that he will take the battle to the Supreme Court even though this is a long shot to say the least. Like everything else the stanch Republican was quick to blame political agendas, Christie blames the members of the Third Party Circuit for being lackeys of the Democratic President Barack Obama in taking away rights from the state. He went on to say,” This is the long arm of Barack Obama’s federal government, where he takes away rights from a state. A state should be able to decide whether or not they want to have this in the state. If they want to have it, they should be able to have it.” Christie’s tirade did not end there and he also pointed out the hypocrisy of the professional sports leagues who make money off fantasy sports. He said in the interview,” With the NFL, Major League Baseball, the NBA, the NHL, the NCAA, they’re all making money off fantasy sports — they’re investing in it. hey go to court and they try to stop us in New Jersey from legalizing what is happening every Sunday — illegal bookmakers in the mafia. They’d rather have them do it. They think that having mafia people and illegal betting is somehow safer than having legalized betting for the integrity of the game.” Christie’s point that fans will bet on sports whether legal or not is a logical argument and is similar to that of the gambling debate as a whole. People will and have gambled forever and the revenues from legalized gambling could be put to good use instead of illegal...

Read More
Massachusetts Governor Signs Bill Legalizing DFS
Aug10

Massachusetts Governor Signs Bill Legalizing DFS

The tide for Daily Fantasy Sports in the US seems to be turning again in favor of the operators after a prolonged and sustained attack from all fronts as to the legality of the industry. Following the legalization of DFS in the strategic New York Market, the state of Massachusetts has become the eighth state to legalize DFS in the US. Massachusetts Gov. Charlie Baker signed the economic development bill of which the legalization of DFS was included. In terms of the bill there is a special provision stating that fantasy sports will not be considered illegal gaming as it is based on skill. There is a caveat however in that DFS operators will have to comply with the consumer protections set out by the Attorney General Maura Healey last year. In terms if the bill , DFS operators will be permitted to offer real money contests until July 31, 2018 and even better news is that there will be no fees or taxes associated with operating in Massachusetts. DraftKings CEO Jason Robbins was delighted at yet another piece of welcome relief for the embattled industry and said,” Today is a special day for DraftKings. Boston has always been our home, and on behalf of more than 300 DraftKings employees, we want to thank Governor Charlie Baker and the Legislature for supporting our company in the city we love. The legislation that Gov. Baker signs into law today reaffirms that the legendary sports fans in Massachusetts can continue playing daily fantasy games. At the same time, this daily fantasy sports provision gives DraftKings the foundation to further grow our business right here in Boston. DraftKings is unabashedly proud of our Boston roots and we look forward to continuing as a hub for innovation and jobs in Massachusetts for years to...

Read More
William Hill Rejects Rank and 888 Joint Bid
Aug09

William Hill Rejects Rank and 888 Joint Bid

The much talked about joint bid from Rank and 888 to acquire William Hill for £3.2 billion has been unanimously rejected by its board. William Hill were not impressed with that offer and said that it “substantially” undervalued William Hill’s value. In addition they went on to say that it was to complex which in other words means that they are looking for a higher price. Rank and 888 put in cash and stock bid for William Hill that valued them at 364p a share in a deal that would see them creating a new company BidCo that would acquire William Hill. Despite the management troubles at William Hill Chairman Gareth Davies did not mince his words as to his thoughts on the deal. He said,” This conditional proposal substantially undervalues William Hill, is highly opportunistic and does not reflect the inherent value of the business. It is a very complex three-way combination at a low premium involving substantial risk for William Hill shareholders: execution risk, integration risk and risks of materially increased leverage.” Analysts believe that an offer of around 400p a share would be likely accepted by William Hill shareholders. For their part Rank and 888 believe that the three way partnership would have significant cost savings for all the companies. They also believe it takes William Hill to another scale especially in terms of online gambling in which William Hill have by their own admission...

Read More
Australia Looks To Regulate Bitcoin Amidst Security Concerns
Aug08

Australia Looks To Regulate Bitcoin Amidst Security Concerns

The advent of digital currencies like Bitcoin have been welcomed by many online gambling sites as it provides an alternative to those who do not have access to traditional banks. The processing fees are also much less than those charged by banking institutions which make it a win- win for both casino operator ad players in areas where banking is difficult. However the fact that Bitcoin is basically not backed up by a physical substance like gold and relies on computer code has got many governments in a quandary as how to approach virtual digital currencies. This week sees Australia’s financial intelligence agency AUSTRAC hosting a finance summit dealing with counter terrorism. One of the claims made by critics of Bitcoin is that it offers anonymity which is the ideal way for money laundering and terrorists to move money around. Justice minister Michael Keenan is set announce the intention of the Australian government to improve existing legislation on digital currencies in order to address these concerns. Keenan believes that there are emerging threats as to the abuse of currencies like Bitcoin and recommended a review of the Anti- Money Laundering and Counter – Terrorism Financing Act to amend all activities that relate to digital currencies. Keenan said,” This provides another tool for criminals and terrorist financers to move and store illicit funds beyond the reach of law enforcement and other authorities and purchase illicit goods and...

Read More