Online Casino News From Around the Globe

NBA and MLB Insist On 1% Sports Betting Handling Tax Despite Criticism
Feb13

NBA and MLB Insist On 1% Sports Betting Handling Tax Despite Criticism

Much has been said about the NBA demanding a hefty 1% betting handle tax from sports betting revenues. Many see this a money grab and another sign that they are only interested in revenues and not the integrity of the sport as they have claimed until now. West Virginia held a committee hearing on Monday as the possibility of the US Supreme Court legalizing sports betting in New Jersey gets closer. Legislators are debating as to whether to introduce a bill that will legalize sports betting in the five stat casinos. The NBA and MLB were represented by attorney Scott Ward at the hearings and could well derail the legislation as their “ integrity fee” of 1% is seen by many as way too high. Ward for his part was quick to point out that the NBA and MLB would use their 1% cut of all wagers to protect the integrity of the sport by ensuring enforcing bans on players making bets and by monitoring suspicious betting patterns. Chief Counsel for Lottery Commission Danielle Boyd was skeptical as to the claims by Ward and said ,” It was hard for us to quite wrap our heads around how the costs of monitoring integrity would increase in a regulated...

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GVC Ladbrokes Coral Merger Could Cost 1,600 Jobs
Feb12

GVC Ladbrokes Coral Merger Could Cost 1,600 Jobs

The proposed merger between GVC Holdings and Ladbrokes Coral Group could mean the loss of 1,600 jobs and could represent a 5% cut in the overall combined workforce. According to the Times CEO of Ladbrokes Jim Mullen will be one of the senior figures to leave the company as a result of the merger. CEO of GVC Holdings Kenny Alexander  is set to keep his role and Paul Bowtell of Ladbrokes win become new CFO. The proposed merger which is valued at £4bn has yet to be approved by the UK Competition and Markets Authority (CMA) who stated last week that they will investigating the proposed merger as it could result in a “ substantial lessening of competition” in the UK market. Positive news for Ladbrokes Coral group was that they recorded a 12% increase in revenues for Q4 of 2017 and that the proposed merger shall not affect Ladbrokes Coral retail outlets. The exact amount of the cost to GVC if the merger goes ahead is dependent on the much anticipated government decision on limiting the fixed odds betting terminal stakes which could be  slashed from £100 to £2. If this cut comes into effect the deal could be cut by around...

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New Hampshire Lottery Powerball Winner Seeks Ruling To Maintain Her Anonymity
Feb08

New Hampshire Lottery Powerball Winner Seeks Ruling To Maintain Her Anonymity

Winning a life changing sum in a lottery would be the ultimate fantasy for many of us. The reality however is that huge lottery wins have proven to be a nightmare for past winners who face  many problems that arise from people or even family looking to cash in on the win as well. The New Hampshire Powerball lottery winner who won $559 million on the January 6 draw is doing everything in her power to avoid the lottery curse and by maintaining her anonymity. According to a report in the Daily Mail she is losing at least $14k per day just in interest while she waits for a judge to rule on her request to remain anonymous. Her fears of exposing her identity are not unfounded as previous winners were murdered,driven to suicide and even lost their fortune. Currently under New Hampshire law every lottery winner has to disclose their name, town and prize amount won. Her Attorney Steven Gordon pointed out that the matter needs to be settled as the interest lost per day due to the delay is costing his client $14k per day. According to reports she plans to remain in the state and contribute some of her money to...

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LeoVegas Reports Record Figures For Q4
Feb07

LeoVegas Reports Record Figures For Q4

Swedish online gambling operator LeoVegas recorded impressive numbers with Q4 revenues of by two thirds in the three months ending December 31 to €67.8m. On the negative side earnings fell 395 to €6.1m and operating profit fell by 78% to €2.1m due mainly to the acquisition of UK facing online operator Royal Panda in October. Overall earnings for 2017 were up by 43% to €217m with operating profits increasing by 36% to €19.9 million. The beginning of 2018 is showing positive signs with revenues up 76% from same period last year to €24.8m. CEO of LeoVegas was delighted at the Q4 quarter and said that it was one of the best performing quarters of all time with a growth rate of 82% and more impressively new depositing customers went up 50%to reach a record 128,409. Hagman went on to emphasize that they planned to strengthen their sports betting offering in line with the FIFA world cup. The German market is also key to Leovegas Strategy with their recent €2.6m acquisition of Malta Based World of Sportsbetting LTD who holds licences in Schleswig- Holstein as well as an approved sports betting licence in Hesse. Hagman sees the new German license as essential for them to increase their barns with well-known media...

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HRI Signs Platform Deal with Malta Based GIG for New Jersey Online Casino
Feb06

HRI Signs Platform Deal with Malta Based GIG for New Jersey Online Casino

The New Jersey online gambling market has seen steady progress in 2017 with over $245 million generated in online revenues. While still way off the initial projections at the start of online gambling in New Jersey, the Garden State is seems is the only real online gambling market in the U.S. today. New Jersey is seen as a gateway to the potentially huge U.S. market and many international operators are eagerly looking to enter this market. One such partnership just announced is that of Hard Rock International (HRI) who have announced a partnership the Gaming Innovation Group (GIG) for a New Jersey casino. HRI in a formal announcement and after much speculation said that they has signed a deal with the Maltese based GIG who will provide the platform for their new online casino brand in the Garden State which will be launched sometime this year. The formal announcement came after much was said about the HRI applying for an online casino gambling licence without naming their platform provider. GIG’s venture with HRI takes them away from their traditional UK and Nordic markets and opens the way for a significant US entry. HRI’s SPV of online gaming Kresimir Spajic commented on the deal and said they have an ambition to become a global leader in the international gambling space and that with GIG they plan to “disrupt the market through product innovation and unique user experience.” CEO of GIG Robin Reed was equally chuffed at the partnership and said that  HRI’s declared vision of creating a global online gambling brand was “ inspiring and innovative” and that the new casino would represent the Hard Rock music, entertainment d lifestyle...

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