Online Casino News From Around the Globe

Merger Between DraftKings and FanDuel Imminent
Oct31

Merger Between DraftKings and FanDuel Imminent

Rumors of a merger between the two DFS heavyweights DraftKings and FanDuel have been up in the air for a long time. A year ago we reported on FanDuel founder Nigel Eccles dismissing the idea of a merger and was quoted as saying,” If we merge, we take on those deals that we turned down. That doesn’t improve our economics, it makes it worse, I can see why it would be attractive to them. I don’t know why they think it would be attractive to us.” ESPN are reporting that the merger is “imminent” and it I just a matter of the final details that are been finalized. With the New York legal battle behind them sources say that the merger could be announced any day. Details that are been discussed include whether one or both site will be used, where the headquarters will be located and of course the new name. According to insiders both companies will share the costs and revenues of the new company, DraftKings were evasive when asked for a comment and said,” As we have stated previously, a potential combination would be interesting to consider. However, as a matter of policy, we don’t comment on rumors or speculation, and there can be no assurances at this time that any discussion about a combination would result in an agreement or merger.” FanDuel would not comment on the latest rumors but sources say that DraftKings CEO Jason Robbins is set to be the new CEO for the joint company. As we mentioned earlier the relationship between the two CEO’s has always been contentious but the legal battles in the last year have forced them to join hands and fight a real threat to their business. Added to this are the reports that both companies have lost a lot of their value in the last year and both are reportedly struggling to fulfill their financial day to day commitments to vendors and suppliers. As sign of the troubles is FanDuel recently laying off 60 workers. While the proposed merger makes sense for both FanDuel and DraftKings, many are asking the question if this will be good for the DFS players as it will create a monopoly which controls over 90 percent of an industry. It remains to be seen if the merger will be blocked by...

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Nevada Gaming Control Board Investigating Sands’ Shill Allegations
Oct27

Nevada Gaming Control Board Investigating Sands’ Shill Allegations

We recently reported on the fascinating world of high-stakes back room gambling by Chinese nationals in Las Vegas Casinos. The whole story came to light when Reuters reported on two “housekeepers” who were been sued for $6.4 million by the Sands for gambling debts accrued to the Sands’ Venetian and Palazzo hotels in Las Vegas. What came to light was the two “housekeepers” were what are known as shills who are used by Chinese VIP gamblers to hide their real identities. Both women claim they were given a few thousand dollars to sign IOU’s for the real VIP players. It is now been confirmed that the Nevada Gaming Control Board will be investigating the allegations and are looking to see if the use of shills violates state bookkeeping rules as well as “ decency” requirements of gaming licensees. The investigation by the Nevada Gaming Control Board was confirmed by Sands Spokesman Ron Reese who said that the GCB “has made inquiries related to this matter and we’ve responded in a timely and transparent manner, as we always do.” The GCB are not strangers to probing the Sands as they have imposed a $2m fine in May this year for them violating two counts of their Nevada Gaming...

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Ladbrokes-Gala Coral Merger  Formally Approved By UK Watchdog Body
Oct26

Ladbrokes-Gala Coral Merger Formally Approved By UK Watchdog Body

While William Hill are still licking their wounds from their failed merger talks with Amaya Gaming, rivals Ladbrokes have got the green light for their strategic merger with the Gala Coral Group. Today saw the Competition and Market Authority (CMA) give the green light as they officially approved the selling of 360 betting shops to Betfred, Bet 21 and Stan James. The selling of the shops is a condition set by the CMA for approval of the merger in an effort to avoid market saturation and unfair competition. The much talked about merger is said to happen very soon according to Ladbrokes and they are already preparing a readmission to the London Stock Exchange for the enlarged new company. CEO of Ladbrokes Jim Mullen was delighted with the CMA’s decision and said both companies are “approaching the merger with good momentum.” Gala Coral CEO Carl Leaver was equally chuffed and said,” the final hurdle has now been cleared and we can begin to realize the significant value available to both company’s shareholders.” The latest merger is one of many giant companies merging as a result of an increasingly competitive gambling market were increased taxes and regulations have had a major effect on operations in the last few...

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DraftKings and FanDuel Agree To Pay $12m Fine To Settle New York Suit
Oct25

DraftKings and FanDuel Agree To Pay $12m Fine To Settle New York Suit

It has been a whirlwind year for DFS operators DraftKings and FanDuel. It all started going downhill last November when Attorney General Eric Schneiderman of New York filed suits against the companies. This led to a major shakeup for both companies and its effects are still being felt by both operators. Both companies have seen their respective values drastically cut and funding has been difficulty to get as no one wants to touch an industry where the legal status is being questioned. The good news is that their much talked about lawsuits with AG Eric Schneiderman has come to an end with each operator agreeing to pay $6 million over false advertising claims filed by the AG’s office. Both companies were accused of “targeting users with a propensity for gambling and addiction” though dubious advertising practices. The $12m settlement is considered a record in terms of a penalty for deceptive advertising but it puts to bed a major obstacle for the DFS industry who has just started to recover from a year in hell. In a statement Schneiderman said,” Today’s settlements make it clear that no company has a right to deceive New Yorkers for its own profit. DraftKings and FanDuel will now be required to operate with greater transparency and disclosure and to permanently end the misrepresentations they made to millions of consumers. These agreements will help ensure that both companies operate, honestly and lawfully in the future.” FanDuel Spokeswoman Justice Sacco reacted to the news saying,” The negotiations were tough but fair. But we are very pleased to have reached a resolution as this allows us to focus on our busiest time of year with NFL, NHL and soccer in full swing, and NBA season starting tonight.” DraftKings also releaseds a statement confirming they were” pleased to move forward as our business continues to grow.” Both companies will be relieved to settle this milestone case as this set in motion a nationwide campaign of legal challenges that seriously threatened the very existence of the DFS market. No doubt that the way forward would be through regulation and on a state by state basis as the question of whether DFS is skill based or a game of chance like gambling still remains...

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Malaysia Will Not Follow Singapore In Legalizing Online Gambling
Oct24

Malaysia Will Not Follow Singapore In Legalizing Online Gambling

Asia is still seen as one of the largest gambling markets in the world. The changing landscape in the region has meant that more countries like Japan, Singapore, and Philippines etc. are more open to some sort of legalized gambling. Japan is one case in note where may believe that by the Tokyo Olympic games in 2020 there will be some form of gambling on offer to coincide with the tourist boom expected. Many believe that Japan can be one of the top gambling markets in the works if and when there is legalization. Singapore has recently approved two online gaming operators in the country who are who are expected to launch in November. This has led to questions about other countries in the region like Malaysia who some think would follow their neighbors Singapore. This idea was knocked down by Inspector- General of Police Tan Sri Khalid Bakar of Malaysia who said they have no current plans to propose to the government to legalize online gambling despite Singapore having done so. He went on to say that the current available options for Malaysians to gamble are ample. He told a group of reporters,” I think we have enough means for the people to gamble; we have Magnum, Toto and so on. You can go to Singapore to gamble (online), we will not interfere but it is definitely an offence anywhere in Malaysia, even if using the facility from...

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