Online Casino News From Around the Globe

GVC Holdings and MGM Resorts International Set To Sign Joint Venture Ahead Of Possible Merger
Jul28

GVC Holdings and MGM Resorts International Set To Sign Joint Venture Ahead Of Possible Merger

It is being reported that the world’s largest casino operator MGM Resorts International is on the verge of signing a joint venture with the UK’s largest bookmaker Ladbrokes Coral who are owned by GVC Holdings. According to initial reports the deal which should be completed by the end of the weekend will see the two companies sign a joint venture in which both firms will initially commit $100m to the joint venture. The deal will cover both online sports betting as well as other interactive gaming services in the US. MGM Resorts international is the largest casino operator and is valued at £13.4billion while GVC is valued at £6.29 billion. Many are of the opinion that the joint venture is just the first step towards a full-scale merger that would create a behemoth in the gambling industry. GVC Holdings are already the largest UK bookmaker following their acquisition of Ladbrokes Coral earlier in March this year and their brands include FoxyBingo, PartyCasino and SportingBet. The US Sports betting market is potentially worth billions. In the past we have reported on this in depth with many believing it would take years until the market was legalized. In the space of just a few months the sports betting market in the US has erupted in a frenzy following the PASPA Supreme Court decision. The race is on for major sportsbook and gaming players in general to get in on what many dub the” Gold Rush” of gambling at the moment. Some of the key players already in the race include SBTech, DraftKings, FanDuel and Kambi. As of the time of this article going to publication GVC did confirm that there discussions “ are at an advanced...

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Bookmakers Set To Receive £1Billion Tax Rebate In FOBT Victory
Jul26

Bookmakers Set To Receive £1Billion Tax Rebate In FOBT Victory

UK bookmakers have got reason to celebrate as they claim a rare victory against the tax man. As our regular readers are aware, the fixed odds betting terminal controversy is still in the headlines as the government has delayed the new restrictions on maximum wagers. Bookmakers like Betfred are heavily dependent on these cash cows and any delay in implementing restrictions is a welcome relief. Betfred however have gone one step further in that they have succeeded in getting a massive tax rebate as a court ruled they were wrongly charged VAT on revenues from FOBTS. A tax tribunal ruled that the collection of Vat on FOBTs between 2005 and 2013 had “breached the principle of fiscal neutrality” because similar roulette style games played in casinos were exempt from the specific tax. In response to the ruling a spokesperson for HMRC declined to confirm or deny their appeal against the verdict but did say that they were giving it “careful consideration”. The ramifications of this hearing are significant as other bookmakers will take the lead of Betfred and also look for tax rebates that could be as much as £1 billion. Betfred alone is expected to receive in the region of £100m according to industry experts. Needless to say this latest reprieve for Betfred has got anti FOBT campaigners up in arms as it follows the delay of the maximum wag cut in FOBTs. Spokesman for Fairer Gambling Matt Zarb- Cousin said, ”Instead of giving the bookies a double win, Treasury should instead put the tax for remote [online] gambling up to at least 25% in the budget this year and enact a £2 stake on FOBTs by April...

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Kambi Looking To Expand In Five US States
Jul25

Kambi Looking To Expand In Five US States

As we have been reporting there is a frenzy in the US sports betting market with key sportsbook players looking to establish themselves as leaders in this lucrative market. We reported on Kambi’s recent moves to impact the sports betting market with their partnership with DraftKings and Rush Street interactive. Following these partnerships CEO Kristian Nylén has confirmed that they are working on securing licenses in five US states which is part of their long term strategy for the US. Nylén was commenting on Kambi’s Q2 performance which saw increased revenues of 25% to €17.6m. He went on to elaborate on the new license applications that include New Jersey and Mississippi, currently. Additional states like New York, Pennsylvania and West Virginia are in the pipeline. Nylén stated the obvious and said the US is a very “interesting market for Kambi” who are set to embark on a US investor roadshow in an effort to support the company’s growth in the market. In terms of expectations Nylén believes that by the end of 2019 at least 12 US states will be live with sports betting and beyond that there could be up to 37 states by 2023 who will regulate sports wagering, The approaches by individual states will differ according to Nylén who believes some will approach the sports betting issue quickly while others will adopt a more conservative and slower...

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South Africa Set to Impose Stricter Gambling Regulations
Jul24

South Africa Set to Impose Stricter Gambling Regulations

South Africa has long had a tough stance on gambling. Minister of Trade and Industry Rob Davies has officially tabled the National Gambling Amendment Bill which has existed in various forms since 2016. In terms of the amendments several changes will be implemented which include a change to the current gambling laws as well as changes to the current gambling structure. Some of the key changes include changing the National Gambling Board to become the National Gambling regulator. Transferring the regulation of bets on the national lottery, foreign lottery and sports pools to a national Lotteries Commission. Regulation of casinos would be strengthened to include limiting payout machines and bingo as well as limiting the number of bingo licenses that will be granted nationally. Other measures include banning dog racing and bets on dog racing in South Africa. In the horse racing industry a self-regulating body will be put in place as well. Gambling premises will also be subject to restrictions that include separate and hidden entrances for gambling areas located inside public spaces like shopping malls and complexes. Black empowerment will also be provided for in the gambling industry with an emphasis on individuals applying for gambling licenses. In terms of advertising there are also restrictions proposed in the bill. South Africa has been a steady increase in GGR with gambling which has been by increased by “smartphone penetration improved awareness of sportsbook brands, increased mobile data availability and the ability to conveniently transact from a smartphone.” Estimates are that South African GGR will grow by 24% this...

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SBTech Cements Key partnership With Golden Nugget Casinos
Jul23

SBTech Cements Key partnership With Golden Nugget Casinos

There is no doubt that one of the key players in the emerging US sports betting market is SBTech. As we have reported they have already cemented some key partnerships already including Churchill Downs Incorporated and Resorts Casino Hotel. The landmark Supreme Court decision that saw the repeal of PASPA has resulted in the biggest boom in the US gambling market for decades. In another significant move SBTech have announced they will be integrating their sportsbook into the Golden Nugget Casinos’ excising igaming platform in New Jersey. This will provide a full sportsbook betting solution for the company’s land based businesses both in Mississippi and New Jersey. As part of the partnership SBTech have designed a bespoke trading strategy and non-pooled risk management system which will allow the Golden Nugget casino to offer unique pricing for all U.S. sports. In addition the front end has been specifically customized for Golden Nugget Casinos which will ensure maximum differentiation from their competitors. Stringent responsible gaming infrastructure has also been put in place in order to ensure that SBTech meet all regulatory requirements in both states. SBTech CEO Richard Carter commented on the latest partnership,” I’m very pleased to confirm our latest strategic partnership with a major U.S. operator. Golden Nugget fully shares our vision of leveraging the power of innovation to achieve sports betting success, and as the U.S. market matures, I’m confident of the potential for further collaboration in multiple jurisdictions. SVP and GM at Golden Nugget Thomas Winter was equally delighted at the new partnership and said,” Since sports betting is a critical component of our successful expansion for online betting and gaming in the U.S., SBTech persisted through our arduous review process. In the end, we knew SBTech was the right partner for us because of its industry-leading retail and online technology, their significant and diverse regulatory experience as well as its innovative product-driven...

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Macau Gambling Revenues Increase 12.5 Percent for Month of June
Jul05

Macau Gambling Revenues Increase 12.5 Percent for Month of June

The recovery of the largest gambling hub in the world Macau continues. Figures releases from the Gaming Inspection and Coordination Bureau reported that gross gaming revenues increased 12.5 percent year-on-year in Macau to reach $2.8 billion for the month of June. This represents the 23rd consecutive month of revenue growth after the much talked about Chinese crackdown on corruption that started in 2014. This 12.5 percent increase was however way lower than the 18 percent forecast by analysts which resulted in share prices of Sands China, Wynn Macau, Melco International and Galaxy Entertainment falling. While Macau has succeeded in stabilizing the gambling market and making the former Portuguese colony less dependent on gambling, they will face competition from Japan who have passed the integrated resort implementation bill in the country’s lower house. All that is required is for the legislation to pass the upper house and this would result in legalization of regulated casinos in...

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