Online Casino News From Around the Globe

Lottoland Suffers New Setback As They Are Banned From Selling Bets On Australian Lotteries
Nov14

Lottoland Suffers New Setback As They Are Banned From Selling Bets On Australian Lotteries

Lottoland have received another blow from their operations down under. As we have reported in the last few months, Gibraltar based lottery operator Lottoland is under a sustained fire from local newsagents and lottery operators who deem them a real and present danger to their existing businesses. Although they have over 600k registered players in Australia, lottoland claim that they are not cannibalizing the existing market and their target audience is completely different to that of traditional operators like Tatts Group. The latest setback they are having to deal with is that from the Northern territory Government who have instructed the Northern Territory Racing Commission to amend it rules to prohibit operators like lottoland taking wagers on the outcome of Australian based lotteries. Commenting on the move, Natasha Fyles who is the Northern Territory AG said that she has listened to the concerns raised over Lottoland like operators and that she is taking action. In response to the Northern Territory Government’s inconsistent approach Lottoland CEO Luke Brill was upbeat and said the Australian lotteries were not a major part of their company’s business as the overall preference from Aussie players was directed largely to international lotteries like EuroMillions and Powerball. According to Attorney General Fyles operators like Lottoland will have a “ short and reasonable  period” to ensure that their product offering complies with government regulations and new...

Read More
Companies Already Fighting To Claim Stake In U.S. Sports Betting Market
Nov13

Companies Already Fighting To Claim Stake In U.S. Sports Betting Market

With the U.S. Supreme Court expected to make a decision on New Jersey’s appeal to legalize sports betting in the State, the local competition is heating up. The biggest talking point in the U.S sports betting market, is that of the lawsuit between Canadian based Nyx and London based William Hill over the proposed acquisition of Nyx by Las Vegas based Scientific Games. William Hill who owns stock in NYX is threatening to torpedo their Scientific Games Acquisition until it gets the assurances it needs. Nyx in response have dubbed these conditions imposed by William Hill as “extortionate” and anti–competitive. The background to this new feud is the potential for a legalization of sports betting in New Jersey and perhaps in a federal level. Many experts believe that whether it is this New Jersey case or another, the sports betting market will finally open up and that the time is now to establish a position as operators will be looking for a technology partner. Insiders like David Schwartz, director of the Center for Gaming Research at the University of Las Vegas believe that,” For the past 30 years, gaming companies have been driven by the promises of expansion. In the past that meant more states opening themselves up to casino gaming, but the final frontier may be sports betting.” Nyx from their side released a statement reacting to William Hill’s threat to block the Scientific Games Deal. They said,” William Hill has made clear to (Scientific Games) and NYX that it fears competition in the marketplace,” NYX wrote in its lawsuit. “William Hill has expressed its view that the U.S. sports betting market is a ‘two-horse race’ between William Hill and NYX, and that as of now, William Hill has control over NYX. In response William Hill Spokesman Ciaran O’Brien re-iterated their position that they are defending the rights of their shareholders. It is worth bearing in mind that the competition to provide online technology to power sports betting in the U.S. is set to come from big names like Boyd Gaming, CG Technology and the South Point Race Book that are already based in Las...

Read More
William Hill Could Prevent Scientific Games Acquisition Of NYX
Nov09

William Hill Could Prevent Scientific Games Acquisition Of NYX

The proposed acquisition of NYX gaming By Scientific Games may not be finalized according to reports. The acquisition of NYX by Scientific Games raised more than few eyebrows when announced a few months ago, William Hill contributed around £90m to the £270 m price that NYX Gaming paid to acquire sports betting technology firm OpenBet in April 2016. William Hill use the OpenBet platform for their sports betting solution and their investment at the time was aimed at ensuring they were maintained as a priority customer for OpenBet. Yesterday saw Toronto based NYX say that a division of William Hill had put in a request to convert their NYX convertible preference shares into ordinary shares by December 4. This is in time for the scheduled vote on the Scientific Games proposed purchase of NYX on December 07. In response to the move by Hills, NYX said that it remains focused on the Scientific Games deal but in light of the move by Hills was considering “ bringing appropriate legal action or actions against William Hill to protect NYX shareholder. Following these latest development NYX shares took a div of over 15%. Hills in response to NYX aggressive approach released a statement saying that it “notes the announcement by NYX earlier today of its apparent determination to frustrate the contractual rights William Hill obtained when it enabled NYX to purchase OpenBet.  To correct two assertions made in the NYX announcement, William Hill is considering the proposed acquisition of NYX by Scientific Games Corporation and no decision has been made at this time, and William Hill refutes in the strongest terms that any anti-competitive measure have been requested or is being demanded. William Hill confirms that it has issued a conversion notice to convert its holding of convertible preference shares and has commenced legal action in order that it may also vote such shares at the special meeting of shareholders.  William Hill does not wish to make any further comment on those proceedings at this time, other to confirm that it will continue to act in the best interests of its...

Read More
For First Time Zynga Reports Profit For Second Consecutive Quarter
Nov08

For First Time Zynga Reports Profit For Second Consecutive Quarter

The ups and downs of social gaming giant Zynga have featured prominently by our team in the last 5 years. It is hard to think of a company that has gone through so many policy and staffing changes. Whether it be the original CEO and Founder Mark Pincus hiring and firing himself, to them entering real money gaming and then doing a retreat. It is no secret that the biggest blunder Zynga made following their much hyped IPO launch was their failure to focus on the mobile. This has cost them heavily and has seen their share price drop as much as 70% from their $10 IPO price in 2011. Having said all that the last two quarters have shown that things might finally be turning around. CEO Frank Gibeau has just announced their Q3 results which have been the best revenue and bookings performance for Zynga in four years. Revenues for Q3 were $224.6m which was 23% up year-over-year. Bookings were up 9% year-on-year to $213.5m. Most significantly 87% of total revenues and bookings were now mobile according to Gibeau. This is the first time since Zynga went public that Zynga delivered two consecutive quarters of net incline. Net income for the quarter was $18.1 million, Gibeau went on to say,” Our year-to-date cash flow from operations has more than doubled to $68.2 million, up from $32.3 million a year ago. We remain on track to deliver our improved margin goals by the end of 2018 and, over the long-term, we’re focused on achieving margins in-line with our...

Read More
Bet365 Records Revenues of Over £2 Billion For Last Fiscal Year
Nov07

Bet365 Records Revenues of Over £2 Billion For Last Fiscal Year

Online gambling giant bet365 had reported outstanding growth as they saw their revenues increase to £2.15 billion over the 12 month period up to March 26. The firm’s turnover grew from £1.65 billion last year. Operating profits increased from £456 million to £503 million and their pre-tax profit increased from £459 to £514 million. Punters flocked to play as punters wagered £46.9 million more within the 12 months which was an increase of more than £10m for the same period in 2016. Alongside their revenue growth, bet365 also grew their workforce from 3,404 in 2016 to 3,835. According to joint CEO Denise Coates, the success of the company over the last 12 months was mainly part due to the fall in the value of the pound and the European Championships. Coates was naturally delighted with the results and said,” On behalf of the board I am pleased to report that the Group continued to experience significant growth during the period, with overall revenues and operating profit increasing year-on-year. Sports and gaming activities contributed significantly to the overall growth of the Group, with revenue and operating profit also increasing year-on-year.” She went on to add that she is confident that the company revenues will continue to grow. In light with this the company is also planning to build a new staff training center and sports facilities on land at Etruria...

Read More
Page 3 of 41234