Online Casino News From Around the Globe

New Jersey Punters Wager Over 3 Billion Dollars On Sports Betting In First Full Year
Jul12

New Jersey Punters Wager Over 3 Billion Dollars On Sports Betting In First Full Year

The impact of the legalization of sports betting in New Jersey cannot be underestimated. We have covered extensively the legal battles of the Garden State over the years in their attempts to get sports betting legalized but the fact that it is now a reality for over a year is still something hard to believe. Without a doubt one can say is that without New Jersey taking the lead other states would ever have had the option of dreaming about the possibility of offering legal sports betting. Figures released by the state Division of Gaming Enforcement show that in the month of June alone the state casino and racetracks handled $273 million worth of bets. In the first full year since sports betting became legal in New Jersey, punters place over 3 billion dollars on sports alone making New Jersey leader in sports wagering by overtaking Nevada. New Jersey’s state casino and racetracks took in over $284 million in June from sports betting and casino gambling money which is an increase of 21.5% from a year ago. According to Chairman of the New Jersey Casino Control Commission, James Plousis New Jersey‘s casino and racetrack have taken on $109 million so far this year. Since sports betting started a year ago the state of New Jersey has taken in $23.8 million in taxes. The addition of sports betting once again helped the casinos to increase revenues for the month of June by winning over $278 million which is a 20 percent increase year-on-year. Borgata took first place in June with $71 million which is an increase of 7.7% from last June. Second place was Hard Rock with $32.5 million, Golden Nugget was third with $29,5 million  with Tropicana following with $29.51...

Read More
Kenyan Government Orders Payment Processors To Shutdown
Jul11

Kenyan Government Orders Payment Processors To Shutdown

Africa is one of the largest sports betting markets on the world despite being the poorest continents on the planet. The revenues generated in markets like Kenya are worth billions of dollars but operators face uncertainty due to a lack of political stability and clear regulations that are present in other contains like Europe etc. According to a report in Citizen Digital, the Kenyan government has dropped a bombshell and directed mobile payment processors Safaricom, Airtel and Telkom to withdraw SMS codes and paybill numbers for all the 27 companies that currently have gaming licenses that were revoked or suspended on July 1. This would mean that major leading market operators like SportPesa, Betin and Betway could face major losses. The Betting Control and Licensing Board (BCLB) sent a letter to the telecoms company stating that the regulator was still determining whether these operators were “ fit and proper” to hold gaming licenses. Mobile payments make up the majority of digital commerce in Kenya and the suspension or loss of these payment channels could mean a major blow to Kenya betting operators. According to Kenyan Government many operators owe the government significant taxes. In response to these claims one of the largest betting and gaming operators SportPesa said,” SportPesa is a law-abiding corporate citizen that upholds all tax and regulatory...

Read More
New Research Shows Why Aussies Remain Biggest Punters On The Planet
Jul10

New Research Shows Why Aussies Remain Biggest Punters On The Planet

We have reported in the past on Australians been the biggest gamblers on the planet along with the largest addiction problem to boot. Add to this the fact the Australia also has the largest number of pokies per head of population and you can see why problem addiction is not going to disappear any time soon. According to Associate Professor Charles Livingstone from Melbourne’s Monash University   the main reason punters turn to pokies is a result of the stress of daily living. Livingstone holds the opinion that “ pokies are designed to provide a dopamine rush, to give you a sense of wellbeing and euphoria that you aren’t finding anywhere else. Once you get hooked into a pokie habit, it’s not so much about the money anymore, it’s about getting into what the players call ‘the zone’ The fact the rewards are unpredictable in pokes means that punters will remain engaged and interested. The randomness of the spinning reels are what keeps players coming back for more as the rewards are unpredictable. A more worrying but not unsurprising finding was that the location of pokies tended to be much heavier for those who live in the outer suburbs in metropolitan areas. The reality of a heavy concentration of pokies in areas that are facing socioeconomic problems is another factor that should be noted. This type of criticism is common in many other countries and still shows no signs of changing. Professor Livingstone did offer a solution for the Government to look at with alternative revenues other than pokie taxes and submitted over 100...

Read More
GVC Denies Benefiting From Turkish Market
Jul09

GVC Denies Benefiting From Turkish Market

The so called “grey” markets in the online gambling are open to interpretation to say the least. In the last few years the most sought after personnel in the online gambling world are compliance officers. Yes that is correct, there not a serious company that operates online gambling that does not have heavy resources invested in compliance officers that need to keep up with seemingly daily changes in the global online gambling industry. Now we all know that a major factor in many new jurisdictions insisting on a lot of red tape to acquire licenses to operate legally in their back yard are nothing more than a money grab. The notion that their main concern is ensuring the public’s safety and protecting them from unscrupulous operators is hard to believe. A good example of such an operator is that of GVC Holdings who were operating in the grey market of Turkey until their proposed merger with Ladbrokes Coral, Reportedly their Turkish operations made up one third of the company’s annual revenues.  CEO Kenny Alexander knew and realized that in order for the merger to get the green light from authorities he would have to sell of their Turkish Arm which he did for $186 million. A report in the Sunday times however has suggested that Alexander sold the Turkish arm to a friend and business partner whom he has known for over 20 years. This was denied by GVC who said that the Turkish business was sold last year in a transparent process that was overseen by investment bank Houlihan Lokey and that all details has been disclosed. This news saw shares fall by as much as 8 percent  during the day where GVC tried to refute the report. These types of accusations can have long term consequences on GVC who are entering the lucrative but tightly regulated U.S gambling...

Read More
Mecca Bingo Hall Owner See Revenues Drop By 41 Percent Following Challenging Year
Aug16

Mecca Bingo Hall Owner See Revenues Drop By 41 Percent Following Challenging Year

Revenues for Mecca Bingo owned Rank Group have plummeted by no less than 41 percent in the year to 30 June. The main reason for this drastic decline was less bingo and casino customers attending venues as well as tighter regulatory controls which are being imposed on the sectors. Revenues for the Group’s Grosvenor Casino business also saw a 6.1 percent drop for the same period with visitors to Mecca Bingo falling by 7.9 percent. In light of the poor results Rank’s share price dropped by over 3% to 170.50p after plummeting over 6% earlier on in the day. The Rank Group said that operating profit for Mecca Bingo fell 4.3 percent this was actually a smaller decline than expected. The positive news is that digital revenues increased by 9 percent to £122.5m. This however could not make up for the falling numbers of players attending the bingo halls. Rank CEO John O’Reilly was quick to reassure investors that they were set to implement a plan to turnaround the poor performance, He said,” We are taking steps to increase our focus on the customer, to accelerate growth in the digital business, to drive cost efficiencies across the business and to strengthen our organizational capabilities. This will be delivered within a transformational programme framework, which will ensure that we deliver a growing Rank Group that is fit for the...

Read More