Online Casino News From Around the Globe

Kambi Enters US Sports Betting Market With Rush Street Interactive Deal
May17

Kambi Enters US Sports Betting Market With Rush Street Interactive Deal

The legalization of sports betting in the US has opened the floodgates for both online operators and sports betting solution providers who are ready to capitalize on this market. We reported on SBtech partnering with Churchill Downs and GAN. Today online sports betting service provider Kambi who are owned by the Kindred Group have announced they have entered into a partnership with Rush Street Interactive which will see Kambi’s sportsbook product being integrated into Rush Street’s online gaming platform. The Chicago based Rush Gaming operates four brick and mortar casinos in the states of New York, Illinois and Pennsylvania, along with an online casino site in New Jersey. Currently local lawmakers have already put in place legislation to legalize sports betting in two of the states where Rush operate and the other two stated have legislation pending. President of Rush Interactive Richard Schwartz commented on the partnership with Kambi and said,” Rush Street Interactive was founded on the key principles of providing entertaining and memorable experiences to our customers, without compromising on integrity. Therefore, when deciding to launch a sports betting product, it was key we chose a partner who shared those principles, and at the same time provided us with the opportunity to launch a premier product firmly aligned with Rush Street’s focus on innovation and player experience.” He added that following the Supreme Court decision they look forward to launching a sports book solution in the US as well as in other global regulated markets. Kambi CEO Kristian Nylen gave his side of the partnership and said,” This agreement with Rush Street Interactive, one of the most respected gaming companies in the U.S., is recognition that Kambi not only has online premium sports betting services ready to appeal to American sports enthusiasts, but those services will help protect the integrity of...

Read More
Paddy Power Betfair Reportedly Looking At FanDuel Acquisition As Gateway To US Sports Betting Market
May16

Paddy Power Betfair Reportedly Looking At FanDuel Acquisition As Gateway To US Sports Betting Market

We recently reported on DFS operator FanDuel announcing that they will be interested in pursuing an entry into the U.S. sports betting market. CEO Matt King announced this prior to the historic US Supreme Court decision that has now opened the flood gates for legal sports betting in the U.S. A report in LSR is claiming that Paddy Power Betfair is now close to acquiring the DFS giant. The timing of this news is no doubt due to the PASPA decision and certainly puts established DFS operators like FanDuel and DraftKings in a position where they will be courted by major gaming companies looking to cash in on a legal sports betting industry that is worth upwards of $150 billion. The details of the possible acquisition are not known and will probably only surface after the deal is sealed. It will be interesting to see the valuation of FanDuel which of course has been reduced drastically in the last few years due to the legal problems and restrictions the DFS sector has undergone. However the fact that legal sports betting in happening has given FanDuel a new lease of life as their database of millions of loyal users is set to be more valuable than ever. Major gaming consortiums like Paddy Power Betfair will be amongst the first to want to establish themselves in the US sports betting market as they are already operating in New Jersey via their Betfair Casino. The players that already have a presence in the US are set to have an advantage over newcomers in the legal sports betting market. In addition the FanDuel brand will open many doors for Paddy Power Betfair and will attract players looking for a familiar face when placing their bets on sports...

Read More
William Hill Issues Dire Warning Ahead of FOBT Announcement This Week
May15

William Hill Issues Dire Warning Ahead of FOBT Announcement This Week

UK bookmaker William Hill has launched a last ditch attempt to block the pending changes to FOBTs. They have warned Culture Secretary Matt Hancock of massive job losses and a threat from foreign takeovers should the planned FOBT changes come into effect. As we have reported over the last few years the UK Government has been weighing the various options to tackle the “crack cocaine of gambling” which the FOBTs have become notoriously known as. Under continuous pressure from many groups the government has had to come up with a plan that would see FOBTs regulated in a manner that would see their devastating effect on poor communities diminished. The main issue according to opponents of the FOBTs is the current maximum wagering limit which is a massive £100. The plan by Hancock is to reduce this by 98 percent to £2 which is set to have a devastating effect on the bottom line of UK bookmakers who rely on these cash cows for a large part of their revenues. Currently there are over 30,000 FOBTs in the UK and billions are spent by vulnerable punters on these high speed gambling machines. William Hill’s Chairman Roger Devlin has warned Hancock that 20,000 jobs can be at risk if the decision to cut the limit to £2 is put in place. He went on to say that the decision would be “catastrophic” for the company. In his words,” Consolidation within our sector continues and I would also not want to see the impact of a disproportionate triennial outcome being a factor in the name of William Hill being added to the list of companies now in foreign...

Read More
U.S. Supreme Courts Rules Federal Ban On Sports Betting Unconstitutional
May14

U.S. Supreme Courts Rules Federal Ban On Sports Betting Unconstitutional

History was has been made today with the decision of the Supreme Court in the case of New Jersey been announced. In what many thought would never happen in our lifetime. The Supreme Court in a vote of 7-2 revised the ruling of the Third Circuit of Appeals ruling that blocked New Jersey form offering legal sports betting at state racetracks and Atlantic City casinos. The Courts decision declared the 1992 Professional and Amateur Sports Protection Act (PASPA) violates the 10th Amendment of the U.S. constitution which prevents the federal government from “commandeering” the authority of individual state governments. In the decision the Court said unequivocally that PASPA “dictated what a state legislature may or may not do.” The majority opinion went on to say that,” “the legalization of sports gambling requires an important policy choice, but the choice is not ours to make. Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own.” New Jersey Governor Phil Murphy was elated at the decision and was the first to give credit to former Governor Chris Christie and Former State Senator Ray Lesniak who were always the leading proponents of legalizing and expanding gambling in the Garden State. He went on to say,” I am thrilled to see the Supreme Court finally side with New Jersey and strike down the arbitrary ban on sports betting imposed by Congress decades ago. New Jersey has long been the lead advocate in fighting this inherently unequal law, and today’s ruling will finally allow for authorized facilities in New Jersey to take the same bets that are legal in other states in our country.” Not wasting any time Senate president Steve Sweeney, Senator Jeff Van Drew (D-1) and Senator Vin Gopal (D-11) introduced legislation that will authorize and legalize sports betting in New Jersey as well as putting in the regulatory framework required that will permit casinos and racetrack to start taking bets. The legislation will include a provision for an eight percent gross revenue tax on in-person gaming and a 12.5 percent levy on online sports betting. The revenues will be funneled to the disabled and senior citizens. In addition to these tax levies and additional 1.25 percent on gaming revenues actually received by racetrack will be collected and this will be distributed to the host municipalities and...

Read More
Online Gaming Accounts for 44% of Revenues for Finland’s Veikkaus
May10

Online Gaming Accounts for 44% of Revenues for Finland’s Veikkaus

Veikkaus  have announced a 10% increase in online gaming for the first quarter of 2018 between January and March to reach €76.8m. Veikkaus is fully owned by the Finnish government and has an exclusive legal betting license on lotteries and sports betting in Finland. The first three months ending March 31 saw Veikkaus generate sales of €805.6m which was down 1% for the same period last year. Net Revenue however improved by 2% to €256m. In terms of total turnover from games, 56% came from physical stores and 44% from digital channels. President and CEO of Veikkaus Olli Sarekosi said that their main focus was to shift their focus to digital games which were up 10% for the first quarter. He pointed out that various online game control tools were introduced by Veikkaus which included land-based casino players having to verify their identity before the machines will operate. Until now around 45% of Veikkaus 2.1m registered users had already used the new verified card system. Other measures adopted were player deposits and spending limitations that can be implemented in advance. Sarekoski said,” With our offers of versatile games, we want to direct our products to responsible national channels. We also decided to review the company strategy in 2018, to respond to the profound changes in our operating environment. “ Despite claiming to have 90% of the country overall online market Veikkaus is well aware that they have to ensure they can compete with other international online operators which are set to take a piece of their market...

Read More
Page 10 of 218« First...89101112...2030...Last »