Monthly Archives: February 2015

High-Stakes Player Finds Skill Wins Out In Spin And Go Tournaments

Spin & Go tournaments have proven to be a controversial addition to the PokerStars lineup. While they’re certainly made plenty of money for owner Amaya Gaming, professionals and regular players bemoaned the fact that recreational players flocked to the lottery-style tournaments in huge numbers, taking them out of their preferred stomping grounds. Worse still, these […]

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Rascal Flatts kicks off its Las Vegas residency in style

It was anything but a conventional grand entrance for Rascal Flatts on Wednesday as the band kicked off its nearly three-week Las Vegas stay an event unconventional in itself, considering the group is undertaking the first ever country residency to hit The Joint at The Hard Rock Hotel and Casino. As part of the residency, dubbed “Rascal Flatts Vegas Riot!,” the band is slated to play a total of nine shows through March 14, opened each night “The Voice” season 7 winner Craig Wayne Boyd.

Zynga pulls plug on UK-facing real-money online gambling operation

Social gaming developer Zynga has yanked its UK-facing real-money online gambling operation, a partnership with UK-listed online gambling operator Bwin.party.

Launched with great fanfare in April 2013, the ZyngaPlus casino and poker products were intended to allow the San Francisco developer to transition its popular social gaming products from dealing in virtual credits to cold hard cash. Sadly, the launch was greeted with as much enthusiasm as a beer fart in a crowded elevator and it was only three months later that Zynga announced it was reversing course on its broader real-money ambitions.

On Thursday, ZyngaPlus players received emails informing them that the sites would be closing “shortly” and advising them to withdraw their balances. A Zynga spokesperson told eGaming Review the company remained “committed to delivering customers unparalleled free-to-play mobile gaming experiences in the mainstream, evergreen categories they care the most about.”

A Bwin.party spokesman said ZyngaPlus’ demise didn’t necessarily spell the end of its relationship with Zynga. Bwin.party claimed the two parties were “discussing a number of other potential projects for future development.” Bwin.party’s attempts to diversity its offering have proven equally futile, as evidence by the January shutdown of Bwin.party’s Sportster Bet and Win social sports betting product after less than six months of operation.

Bwin.party had reportedly found a buyer for its money-losing Win social gaming division in Rising Tide Games, the new startup founded by former 888 Holdings and Zynga exec Maytal Olsha, although those sale talks have reportedly fallen apart. Despite its falling revenue, Zynga still has sizeable cash holdings and might be amenable to taking Win off Bwin.party’s hands, especially since the struggling Bwin.party is clearly a motivated seller and could be willing to let Win go on the cheap.

WSOP Global Circuit Coming To A Country Near You

The WSOP Circuit has been confined to the United States in previous years, but the most prestigious poker series is branching out by announcing three international stops for the 2015-2016 season. In an attempt to get a bit more worldly, the Vegas-based tournament operator has reached agreements with casinos in Italy, Mexico, and Morocco. “It’s time […]

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Nevada casinos break five-month losing streak on baccarat, sports betting gains

Nevada casinos snapped their five-month losing streak in January as revenue rose 7.8% to $952.7m.

The numbers were even better on the Las Vegas Strip, where revenue rose 15.4% to $576.8m. The rebound was largely due to a 69% rise in baccarat revenue to $137.8m. Baccarat enjoyed a 17.35% win rate, compared to a record low 9% in January 2014. However, baccarat volume fell 13.5% in January, the fifth straight month that baccarat whales have kept a tighter grip on their wallets.

Blackjack revenue was flat at $97.8m, while roulette rose 37% to $34.5m and craps fell 7% to $28m. The rest of the table games finished as follows: three-card poker ($13.7m, +22%), mini-baccarat ($11.1m, +3%), pai gow poker ($9.6m, +3%), let it ride ($3.2m, -4%), pai gow ($3m, -26%), keno ($1.9m, -6%) and bingo ($450k, +7%). Slots revenue fell 1% to $561.2m.

Nevada sportsbook revenue rose 51.7% to $20.3m, the fifth straight month sports betting revenue has topped the $20m mark, a new state record. The numbers were driven by a 28.7% rise in basketball winnings to $14m, another new Nevada record for the month of January. Basketball stakes hit $177m and hold reached 7.9%.

Football revenue was up 90% to $4.7m on a 2.54% hold, making a total football win of $106m from September through the Super Bowl. Pari-mutuel race betting revenue was up 7.25% to $4.7m while ‘other’ wagers rose 134% to $1.7m. Parlay cards rose 268% to $964k but this was cancelled out by laggard baseball bettors cashing in $992k worth of winners.

Meanwhile, Rep. Dina Titus has reintroduced federal legislation that would repeal the 0.0025% tax on Nevada sportsbook betting handle. On Friday, Titus sent a letter to the House of Representatives Committee on Ways and Means reiterating her position that the $9m to $11m the state sends Washington each year via this tax was a pittance in federal budget terms but that same sum could do some real good if it stayed in Nevada. Titus’ previous effort to repeal the tax went nowhere.

Magellan Midstream and Plains All American to Build Saddlehorn Pipeline

Magellan Midstream Partners, L.P. and Plains All American Pipeline, L.P. announced that they have formed Saddlehorn Pipeline Company, a 50/50 limited liability company, to construct, own and operate the Saddlehorn pipeline, an approximately 550-mile pipeline that will transport various grades of crude oil from the DJ Basin, and potentially the broader Rocky Mountain area resource plays, to storage facilities in Cushing, OK owned by Magellan and Plains. An extension to Carr, CO is also under consideration for connection to existing crude oil assets owned by Plains in that region.

William Hill numbers surge on strength of online and mobile

UK betting operator William Hill reported record operating profit in 2014 thanks to continued strengths in its digital division.

Revenue rose 8% last year to £1.6b while operating profit rose 11% to £372m. However, exceptional items dragged net profit after tax down 9% to £206.3m. Results were buoyed by the 2014 FIFA World Cup, which generated nearly £227m in wagers, of which Hills kept £40.5m. Compared to the 2010 footie fest, retail wagering declined £4m while online grew by £108m.

William Hill Online revenue rose 18% to £527.4m, representing 32% of the overall revenue pie. Digital sportsbook revenue rose 19% to £253m thanks largely to mobile wagering, which rose 48%, representing 56% of digital sports revenue. Mobile stakes grew 55% while desktop stakes grew by a comparatively paltry 11%. Mobile win margin (9%) also outpaced desktop (6.2%). Pre-match handle rose 23% to £2.1b while in-play handle rose 36% to £1.6b.

Digital gaming revenue rose 17% to £274m, with casino up 23% to £235m. Bingo fell 2% to £23.7m while the poker vertical fell 18% to £14.9m. As with sports, mobile gaming was the star performer, with revenue up 117%, representing 32% of total gaming, while desktop gaming revenue fell 3%.

Revenue from outside the UK accounted for 18% of the total, up from 15% in 2013 and twice 2012′s 9%. In Italy, revenue rose 39% thanks to an increased range of sports betting products on offer and the launch of mobile gaming and sports products. In Spain, revenue was up 64%. Hills had a 9% share of the 2014 Italian sports betting market and a 19% share in Spain. Combined, the two markets generated a net loss of £6m but Hills hopes to break even in both markets in 2015.

William Hill Australia generated 8% of group revenue, with stakes up 18%, revenue up 41% to £122m and profit up 106% to £24.7m. William Hill US betting handle rose 21% and revenue rose 31% to £29.7m. Hills’ telephone wagering business saw handle fall 16% and revenue was down 28% to £11.8m, resulting in a net loss of £800k for the division.

Hills retail operations continued to account for the bulk (57%) of revenue. OTC wagering handle grew slightly but OTC revenue fell 5% to £450m thanks to punter-friendly results and a bad comparison with 2013’s high win rate. Gaming machine revenue rose 6% to £462m. Hills had 2,362 shops at the end of 2014.