Online Casino News From Around the Globe

Lottoland’s Olive Branch To Aussie Newsagents Is Rejected
Oct19

Lottoland’s Olive Branch To Aussie Newsagents Is Rejected

The animosity between Lottoland and Australia based lottery operators and newsagents shows no signs of relenting. Both sides have been in a very ugly and expensive marketing campaign aimed at discrediting each other. Lottoland has over 600k lottery customers down under and is seen as a real threat to the Tatts Group and by the Australian Lottery and Newsagent Association (ALNA). Added to that are the growing number of states that have announced plans to implement legislation that will ban insurance based lottery operators like that of lottoland. In an effort to gain support and silence the critics Lottoland has offered what it call a “world-first” partnership model to the ALNA by offering them 10 percent revenue share from every bet one of their customers make with Lottoland. Under the proposal punters would select a local newsagent where they bet with lottoland. That chosen newsagent would receive a 10 percent cut. However this olive branch has been rejected and even dubbed disingenuous by the ALNA CEO Adam Joy. The ALNA have run an aggressive media campaign backed by Tatts Group to the sum of $5m. Their main message is that private online lotteries like Lottoland are misleading the public with their synthetic like or fake lotteries business models and are hurting the local economy in that they are not giving anything back from their revenues to community projects like the traditional state run lottery operators. CEO of lottoland Luke Brill said that the revenue share model they created was a result of listening to the newsagents and realize the need to work together. Brill said:” We will take a hit to our margin but we appreciate that we need to act and listen to the newsagents and consumers and this is our attempt at doing that. We aren’t the big, bad enemy. We are happy to work with newsagents and compensate them and help them transition from offline to online.” Joy went on to question the proposed revenue share of the Lottoland proposal by and said that on their model the newsagents would only get 10 cents on a $1 ticker and payments would be made quarterly and in arrears. Not stopping there Joy said, “Lottoland has not acted in a way to date that you would call reputable or...

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Crown Resorts Accused Of Rigging Slot Machines And Enabling Money Laundering
Oct18

Crown Resorts Accused Of Rigging Slot Machines And Enabling Money Laundering

Trust is the key factor when it comes to punters deciding where to gamble. The absolute knowledge that the casino you are wagering  adheres to the strictest standards and is compliant with all regulatory requirements is what makes the difference when choosing where to spend one’s cash. An Australian lawmaker has accused Crown Resorts of rigging their slot machines as well as potentially enabling money laundering. Speaking under the protection of parliamentary immunity, Andrew Wilkie who is a long time supports of banning slot machines has presented to the Australian parliament written statements of three previous employees of Crown Resorts who made these spectacular allegations. The casino in question is in Melbourne and the face of the employees was disguised. Responding to the serious allegations Crown Resorts issued a statement calling on Wilkie to provide any information he has to the relevant authorities. The Victoria State regulator reacted saying that the allegations will be investigated as part of current every five- year review of Crown Melbourne’s gambling licence. The commission went out of their way to assure the public that they are taking the allegations seriously. In a statement they said,” We take any claims of this type extremely seriously and they will be thoroughly investigated.” Needless to say the allegations led to a massive drop in Crown’s Share price which fell more than 8 percent at one stage until denial came in. Wilkie for his part was not impressed by the Victorian Commission for Gambling and Liquor Regulation’s response. He went on to say,” I’m horrified to recount that the Victorian Commission for Gambling and Liquor Regulation has allegedly done nothing to stop this shocking criminal misconduct,” Allegations on money laundering were also voiced by Wilkie who said that according to his information Crown facilitated money laundering by avoiding scrutiny from the AUSTRAC of transactions exceeding A$10,0000 by misusing gamblers; identity...

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FanDuel Could Possibly Be Close To Financial Collapse
Oct17

FanDuel Could Possibly Be Close To Financial Collapse

The daily fantasy sports industry is the last few years has seen major upheavals as the main players like FanDuel and DraftKings have been forced to fight long and expensive legal battles against legislators looking to shutdown their activities. The astronomical amounts the DFS powerhouses have spent in the previous years with marketing  and sponsorships were based on the notion that their growth bubble would go unhindered as it was always assumed that they are a game of skill and not chance like gambling. This however came crashing down led by the like of NY Attorney General Eric Schneiderman who was seen as one of the major reasons DraftKings and FanDuel went into combat mode and almost were brought down. The latest information been released by DFS giant FanDuel has set off alarms as it shows that they could be close to going bust. A report from Insider.co.uk shows a reports from Auditors Deloitte where FanDuel recorded a $186m pre- tax loss for the six months to December 2015. This is alarming as it could mean that FanDuel do not have enough cash to bridge the gap as they only have $19.5m cash on the balance sheet. FanDuel’s massive legal bill that was required to fend off regulators has yet to be recovered. The stop and go policy of FanDuel in various states has disrupted the flow of cash. This was confirmed by data filed with UK’s Company House which showed revenues for the final six months in 2015 was at $54.4m which was down from $87.7m in the previous 18 month period. In the same period FanDuel had over $336.3 m in administrative expenses with gross profits only amounting $49,8m. It is not entirely clear as to the current financial status of FanDuel’s data has not yet been released for 2016 but unless they do serious reduction on expenditure and other cost cutting measures, there is the real possibility that this DFS giant could...

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North Korea To Permit Horse Racing In An Effort To Generate Revenues
Oct16

North Korea To Permit Horse Racing In An Effort To Generate Revenues

The North Korean regime is in desperate need to fill up its coffers with foreign reserves. With the increasing isolation due to the policies of North Korea leader Kim Jong Un, the government is allowing locals to bet on horses races. This was previously punishable by three years of hard labor. Although hard to believe there are some very wealthy North Koreans who have spare cash to spend on casinos and gambling. The latest horse racing betting took place at the Mirim Horse Riding Club which is just one of Kim Jong Un’s luxury resorts he has built in the last few years. Anyone over the age of 12 will be allowed to bet on jockeys in what is a raffle like system according to North Korea’s Official news agency KCNA. Pictures on North Korea media show hundreds of spectators filming and watching the races from their smartphones with mainly white horses that are associated with the regime. Sanctions due to its nuclear program have meant bans on seafood, coal, textiles etc. Gambling and casinos is not new to North Koreans as there are casinos already operating for foreigners in Rason and Pyongyang where there is a joint economic zone with China. There are even proposals in the making to increase the amount of casinos on...

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New Jersey Records 7th Consecutive Month of Revenues Exceeding $20m
Oct12

New Jersey Records 7th Consecutive Month of Revenues Exceeding $20m

Online revenues in the state of New Jersey exceeded the $20m in the month of September. Figures released by the New Jersey Division of Gaming Enforcement  (DGE) showed that online gaming operators generated just under $20.4m which is an increase of 25.6% year-on-year although nearly $1m less than the month of August this year. These latest revenues mark the seventh consecutive month of online revenues exceeding the $20m mark. The online casino vertical made up $18.5m. Online poker continues to fail as year-on-year revenues fell 5.7% to $1.9m which is getting close to the all-time record low of $1.73m recorded in June. With the latest figures in, online gaming revenues for the year-to-date are up 27% to $183.7m with the casino vertical recording an increase of nearly a third to $165.1m, The top casino was the Golden Nugget who maintained their number one position with $5.7m. The Borgato was second place with $4.24m, third place was Resorts Digital Gaming with $3.6m. The Tropicana came in at fourth place with $3.428m just ahead of fifth place Caesars Interactive Entertainment New Jersey’s...

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