Gambling News Month in Review, May 2012
Luck Good and Bad, is for Gambling, not Business
It seems that bad news is following the French gambling group of Bernard Tapie. This comes as a result of the statement that was announced by Groupe Bernard Tapie regarding the fact that it will postpone the much anticipated International Stadium Poker Tour until the end of May of 2013. This comes as the second spurt of bad news following its failure to buy out Full Tilt Poker. This tour was previously planned to happen in the Wembley stadium in London, it was planned to happen by the end of 2012. It was advertised through a set of videos by the ISPT, it was going to be a live tournament with 600 Euros buy in. It was going to have online satellite support which would result in an outstanding number of thirty thousand players in the stadium of Wembley for the biggest poker tournament ever.
The next step that players will start to eliminate each other until the players left are only 10 % of the players who started. These 10 % will then sit on a final table in order to win the tournament, the fame and of course, the amazing prize of 20 million Euros. The question that is risen is the about the fact that the gambling group, Groupe Bernard Tapie, and their partner Prosper Masquelier don’t have any big internet poker websites or operations, so how were they planning to host such a complicated and a worldwide poker live tournament like this one? Answer unknown, but it might be the reason behind the postponing. Maybe they were counting on the purchase of FTP, but when that failed, they had to postpone it.
Riviera Casino Las Vegas and Buffalo Studios
Riviera Casino, the very famous land based casino of Las Vegas has entered a partnership with Buffalo Studios, which is a step towards the entrance of virtual bingo to Las Vegas. Buffalo Studios is the same company that developed the software for the very famous bingo game on Facebook, Bingo Blitz.
Virtual Bingo Partnership
The reason behind this new partnership and the whole virtual bingo project was announced by Andy Chody, the CEO of the Riviera Casino. He said that this project aims to give the land casino a much needed aid in order to expand its customer base and attract more players and to make a great expansion in their internet gaming section. This new virtual bingo game will go live on Monday, on this date; customers will have the ability to enjoy virtual bingo on the Web page of the Riviera Casino. This game will be filled with a lot of cash bonuses, prizes and several promotions from the Riviera Casino. One of them is a free trip to visit and become an attendant in the $200,000 bingo tournament of the Riviera Casino that takes place twice each year.
This partnership that the company is having with Bingo Blitz is considered a major step in Riviera Casino’s quest to provide its services to a new age group, the youth and the teens. Commenting on this, the vice presidents from Buffalo Studios stated that it is a known fact that bingo is a very social game, so they have translated that into a very social online game to provide the players with the best online and social experience.
Betfair Releasing New Site
According to sources, the internet gambling company, Betfair is going to release its newest website. This website is planned to be its most recent betting website with fixed odds. This new website will result in a head to head competition with the standard bookmakers. This website is planned to be launched and ready to get into the action by the time of the 2012 football event, the Euro Championship 2012. This website is going to increase and expand the online reach of the company. Such expansion in the realm of online sport gambling is considered a disadvantage by the company.
Betfair has over four million gamblers in its records; with such numbers, that surely makes Betfair a competitor with noticeable weight that would make other companies and betting sites fear and account for. This new website is going to make Betfair able to take almost 30% of the punters betting that are going somewhere else outside of the company.
This new online website is developed and created by Openbet. Openbet is one of the biggest and experienced developers. It has worked with famous and known operators such as Skybet, Paddy Power and William Hill. Commenting on this, the operations director of Befair, Nick Hagen said that the company is aware that 30% of their client data base wager on sports. Through this website the company will offer sport wagering services to these players instead of watching them place their bets on other websites.
Poker Movie on the Flop?
According to sources, there is a new movie that is gambling related, specifically poker, that is going to have Justin Timberlake and Ben Affleck as the stars. This movie is going to discover the dark history of the recently legalized and regulated internet poker market. The movie will follow the story of the character that will be played by Justin Timberlake who is going to travel to Costa Rica in order to get back his tuition money. This tuition money was cheated out by an online poker website that is owned by the character that will be played by Ben Affleck. And then, Justin’s character will become the personal assistant of Ben Affleck’s character.
These events come very close to the real life disaster that hit the world of internet poker, the infamous Black Friday. On this day, three of the major poker rooms were kicked off the American internet and the owners were indicted. The three poker rooms were FTP (Full Tilt Poker), Absolute Poker and PokerStars. In another scandal, that is not connected with the indictments of Black Friday, Russ Hamilton the UB principle was accused with cheating charges, as he allegedly has cheated millions of customers, but despite that, he wasn’t charged for this theft.
Hollywood seems to be preparing itself to take advantage of the dark history of internet poker. Meanwhile, a lot of states are already trying to legalize and regulate online poker according to their own state laws. For instance, the state of Nevada is expected to be the first state to legalize and license poker websites by the end of the summer. Poker News Source
Realtime Gaming installed at South African Online Casino
Springbok Casino has just gone live; Springbok Casino is an internet casino that offers gambling services to the residents of South Africa. It is appropriately named, as it is named after the Springbok gazelle that lives in South Africa. Of course, since the Springbok Casino is a newly launched casino, it has many offers that include a lot of bonuses and promotions. For instance, there is a bonus that is equal 12 dollars, or 100 ZAR that can be given to players, all what the players have to do is download the casino and make an account. This is not all, as there is another welcome bonus at hand. Once the player makes the initial deposit, the player will get a bonus that equals that deposit, with a bonus that can reach up to 1,500 ZAR. If you think things ends here, then you are wrong, as the casino offers 50% cash back bonus on the 2nd and the 3rd deposits as well, each of them has a maximum limit of 5,000 ZAR.
Realtime Gaming is the software developer behind this casino. This casino offers a wide variety of casino gambling games, this included blackjack, video poker, craps, slot machine and others. The casino will give the players a very original and an innovative experience through a wide variety of games accompanied by great graphics and features that is both lucrative and entertaining.
Spain Says ‘Show me the Money’ and Some Casino Operations Do
Regarding the back taxes that were announced by the Spanish authorities that will be implemented on the internet gambling operators who are wishing to get licensed to work within the regulated market of Spain, Bwin.Party is estimated to pay 33 million Euros in back taxes. Bwin.Party has agreed to pay these penalties and back taxes due to 2 laws; the laws were from 1966 and 1977. These laws were applicable to offline wagering operations in the country and some of the wagers with no fixed odds.
Bwin.Party announced that their company, accompanied by several other internet gambling operators who are seeking a license in the Spanish market have assessed the taxes according to the Spanish law. This resulted in a payment of 25.6 million Euros in taxes and a sum of 8 million Euros in interest and surcharges which amounts up to a total of 33 million Euros. They continued by saying that by paying such taxes and penalties, they believe that the company has now met all the terms and conditions of the Spanish authorities, and they have the right to be licensed and enter the gambling market of Spain.
Regarding the same matter, Sportingbet that was forced to close its Spanish operations in the beginning of 2012, the company has announced that it had entered negotiations with the authorities. These talks are done in order for the website to pay back taxes starting from 2009 until now. It is expected that such taxes would amount to 20 million Euros.
Jadestone and WMS Partnership
It is clear that after the recent acquisition that was done by WMS Industries that WMS is planning to improve and upgrade its Business to business (B2B) game servers and its content distribution. This is due to the fact that the company’s latest acquisition was Jadestone Group AB. Jadestone is one of the biggest and known software and content developer in the world of online gaming.
This acquisition will provide WMS with all of the game content that Jadestone has. This content will include all of the internet products, content distribution and the whole portfolio of games. Jadestone will also use all of its capabilities and will pursue a new target, which is developing and creating a suite for interactive services and online products. Jadestone is known for providing its services to many known and famous gambling operators in Europe. The list of clients includes Betsson, Microgame, Unibet and Bwin.Party.
Commenting on the acquisition, the president of WMS industries, Orrin J. Edidin stated that this partnership with Jadestone is a perfect addition to their arsenal. Jadestone will offer its great experience and state of the art solutions, all of this will be mixed with the great management and experience in developing platforms for internet gaming of WMS in order to give the clients the best online gaming experience they will ever get.
It also has been confirmed by Orrin J. Edidin that this partnership will basically focus on mobile and website social games. This is due to the fact the market for this kind of gaming is on the rise and is moving quickly.
Legalizing Internet Gambling in the US
As predicted, states have already started to regulate and legalize internet gambling. The first state to take such step is Delaware, as the state has taken major steps concerning legalizing intra state internet gambling and sport wagering. This was made clear through the presented legislation bill that was passed by the Pari-mutuels & House Gaming Committee. This legislation is named the Act of 2012, the Delaware Gaming Competitiveness.
This act would legalize online gaming and gambling for all the residents of the state of Delaware who are 21 years of age or older. This will be regulated under the umbrella of the Delaware Lottery. This legislation is presented and backed by John Viola, the State Representative, the bill is known as the House Bill 333. This bill is planned to be viewed in front of the full House of Representatives of the state to undergo a voting. Analysts stated that such bill if implemented, the money that will come from such legislation would give the officials the ability to cancel the 4 million dollars fees that is paid by casino owners as fees on their slot games. This will also decrease the fees on table based games down to 3 million dollars after being 6.75 million dollars.
As a result of these reductions in fees, the casinos are going to be asked to pay this amount in business costs. This includes debt reduction, marketing among other costs as well.
A new iPad application has been released through a partnership of Bwin and Euro League Basketball. This new application is named “bwin Euro League Playbook” this application would give the players, the coaches and the loyal fans of the game with a much guaranteed source of analysis to the tactics of the game. It will also offer them a very interactive content regarding the famous European basketball matches and competition. Not only that, but this sponsorship by bwin of the Euro league Basketball will offer very exclusive videos of the competition. This video content will provide the fans with the ability to view different game tactics and plays by choosing their favorite teams and analyze their tactics and strategy throughout the league.
There are also additional features to the iPad application, as viewers will have the ability to make their own plays or customize existing ones very easily. Then they can compare their strategies with the strategies and tactics of the professional coaches of the basketball teams.
Commenting on this new application, a director form Bwin, Thomas Priglinger, stated that through this new application, the company is intending to provide something completely new and original to all the fans and viewers of the Euro League. On the other hand, the chief officer of Euro League, Roser Queraltó, stated that this amazing, state of the art application is proof of the commitment and the originality that Bwin is presenting to Euro League and all of its’ fans.
Online Gambling Operators in Spain
Since the Spanish government announced that online gambling operators will be required to pay back taxes in order to get licensed, and many European operators have been scrambling to pay off and settle these back taxes. One of the biggest European based gambling companies, Bwin.Party has announced that to settle this issue, it is going to pay 33 m Euro to the Spanish authorities.
Another gambling operator has made an announcement regarding the situation was Sportingbet. As the company announced that it has entered negotiations and talks with the Spanish authorities concerning the situation, but they haven’t reached a fixed back tax amount yet. Although, the company has stated that it has accumulated almost 15 m pounds by selling convertible bonds in order to pay off the back taxes to settle this issue.
It was also stated that the company is expecting to pay off its back taxes and to become eligible to enter the Spanish market legally and to obtain the Spanish eGaming license that is predicted to be available on the 1st of June of this year. These back taxes are expected to be implemented on the whole time period between January of 2009 and May of last year. This period is the period when the internet gambling operators had their operations running within the Spanish market without any license or regulations. This is why the Spanish govt. is back taxing all of these operators for that period as they were operating illegally within the country.
Revenue Results from AGTech
Despite the good financial numbers within the group, AGTech the Chinese wagering company announced a very average financial record for the first quarter of this year. As for the numbers themselves, they are as followed: The total revenues increased by 117% to reach 42.3 million Hong Kong Dollars. The net profit increased by 73.2% and reached 25.2 million Hong Kong Dollars. As for the operations profits, it was equal to 674 thousand HK dollar, which is quite good when put in comparison with the loss of the 1st quarter of last year which was worth 2.4 million HK dollars, so it is clear that the company has recovered from the Q1 /2011’s loss.
It looks like the future success of the company is directly linked to the sum of upgrades and developments that took place at the company in 2011. For example, the company has become partners with Ladbrokes, the UK based land and internet gambling operator. As they have a joint project together, it is named Lucky Racing. It has also acquisitioned Shenzhen Silvercreek, the famous lottery supplier and mobile gaming provider. But seems that things aren’t continuing the same way on the Lucky Racing section, this is due to the fact that the revenues from the first quarter of 2011 has decreased by a total of 35% on the fourth quarter of 2012 that was worth 400 million RMB, reasons are still unclear regarding this decrease.
So far, it has been seven days since the players of the Purple Lounge casino knew that Media Corp has left the partnership between the two companies, and the departure of both Sara Vincent, the executive officer and Justin Drummond the Chairman. Despite this long period of time, no one from the new staff has told them or given them information regarding the status of their accounts and the safety of their funds. Also, they have had no news regarding when they will be able to withdraw the funds from their Purple Lounge accounts.
After the latest acquisition of Intabet, the new managerial staff consisted of Phil Jackson who replaced Justin Drummond as the chairman, and replacing Sara Vincent as chief executive, Adam Fraser. Both of them were a part of the processes that resulted in the Intabet acquisition. This is why they had enough time to involve themselves in everything related to both Media Corp and Purple Lounge online casino. This is why they are very familiar with the whole process. Despite all of that, there has been only one announcement concerning the future of the casino. This information was announced by the company, it stated that the company believes that the latest acquisition of Intabet is surely going to help with the reconstruction process that is taking place on Purple Lounge internet casino. As this acquisition would aid the addition of new casino rooms and poker games to be added to the new platform that is supplied by Intabet. Source: 100 Best Online Casinos