Monthly Archives: May 2018

Nevada casinos fail to top $1b revenue mark as strike looms

Nevada sportsbooks set a new betting handle record for the month of April while overall casino revenue fell shy of the $1b mark for the first time this year.

Figures released Thursday by the Nevada Gaming Control Board show statewide gaming win of $953.7m in April, up nearly 7.6% from the same month last year. Las Vegas Strip casinos reported revenue up 5% to $499.5m, while Downtown casinos surged 15.6% to $60.5m.

April’s gains were largely thanks to slot machines, which gained 10% to $658.9m, while total games & tables revenue nudged up 2.4% to $294.8m. Blackjack led the table tallies with $94.1m (+8%) while baccarat slumped 17.7% to $65.1m. Roulette had a solid month, rising nearly 69% to $31m, but craps lived down to its name, dipping 3.7% to $29.9m.

Nevada’s sportsbook operators reported revenue up 8.1% to $16.3m, marking the 57th straight month the books have beaten the punters. The number would have been far higher had football bettors not cashed in $3.9m worth of outstanding tickets. Overall betting handle hit $316m, the best April result since 2015’s $292m.

Spain’s online poker market gets a serious boost from EU liquidity

Spain’s regulated online gambling market reported significant year-on-year revenue growth in Q1, as poker benefited from its new shared liquidity pool.

Figures released Thursday by Spain’s Dirección General de Ordenación del Juego (DGOJ) regulatory body show total online revenue of €163.3m, up a healthy 28% from the same period last year but a 5.7% decline from Q417’s total.

Sports betting claimed slightly over half (€81.7m) of overall Q1 revenue, up 15.9% year-on-year but down 21.1% sequentially. In-play betting accounted for 62.5% of sports revenue and 67% of betting handle, while pre-game fixed-odds betting claimed 34.9% of revenue and 30.2% of handle.

Online casino revenue surged 51% year-on-year to €56.6m, with online slots claiming over half (52.7%) of the casino total. Live roulette claimed the second largest share chunk at 21.1%, followed by conventional roulette (15.2%) and blackjack (11.8%).

Paddy Power Betfair $660M buyback program moves forward

Bookmaker PaddyPower Betfair (PPB) has started returning £500 million (US$667.4 million) to shareholders via a stock buyback as it seeks to reduce the company’s share capital.

PPB plans to implement the share buyback program in tranches that will run over the next 12 to 18 months, the company said in a statement. The maximum number of ordinary shares to be repurchased under the share buyback program will reach 12,692,692.

For the first tranche, PPB intends to give back £200 million ($267 million) in the next three months, subject to market conditions. The Dublin-based wagering firm said ordinary shares may be repurchased on both the London Stock Exchange and the Irish Stock Exchange, trading as Euronext Dublin.

PPB has tapped international investment bank Goldman Sachs Group Inc. to repurchase the shares on its behalf.

Intralot Q1 2018 revenue rises but so does its debt

Revenue of Greek gaming operator Intralot S.A. grew by as much 4.3 percent in the first three months of 2018, with sports betting fueling the company’s financial growth.

In a regulatory filing, the Athens-listed company announced that its consolidated revenue was at €280.7 million ($327.25 million) for the three months ending March 2018, higher than the €269 million ($313.7 million) it reported in the same period last year.

Gross gaming revenue also grew by 2.5 percent to €141.5 million ($165.02 million) in Q1 2018 from 138.1 million during the previous year, with sports betting being the largest contributor to its top line, followed by lottery games, according to Intralot.

Financial records showed that Intralot’s sports betting arm posted an 11.9 percent growth while its lottery division contributed 29.7 percent to the company’s turnover. Meanwhile, technology contracts and VLTs accounted for 6.2 percent and 2.8 percent of the group’s turnover. Finally, racing constituted the 2.4 percent of Intralot’s total revenues in Q1 2018.

Finnplay expands FansBet’s network of sports betting sites

HELSINKI, 31st May 2018 – Finnplay, the Finland-based open gaming platform provider, confirmed that it has expanded its platform agreement with FansBet, a growing network of sports betting websites, focusing on delivering betting entertainment for British football’s most loyal patrons, its fans.

The FansBet network, which has grown quickly over the last twelve months, and nearing one hundred fan sites, actively seeks to partner with supporters to give back half of their profits to supporter-chosen causes and initiatives, using accredited, trusted and respected supporter committees to decide where the money can best be utilised.

Erkki Nikunen, Partner & CMO of Finnplay, commented: “FansBet is an innovative and fresh approach to a sports betting brand. It is founded by a successful management team with years of sector experience, dedicated to putting the passion and loyalty of the ‘fan’ at the centre of the experience, to support their chosen club. We are therefore delighted that Finnplay is continuing to power the brand’s turnkey sports betting technology stack.”

Steve Armstrong, CEO of FansBet, said: “Finnplay allowed us to launch the licensed and regulated FansBet sports betting brand network very quickly, with Redarmybet our Manchester United fan site being live for some time. Their solution allows our business to offer an array of gaming products that today’s football and sports fans demand. As part of our continued network expansion strategy, we will continue to develop specific betting propositions for different fanbases, and likewise, the fans can be assured of total transparency, with profits dispersed to supporter-driven causes.”

Nebraska teams up with Iowa to block Ponca Tribe casino

The State of Iowa has found an unlikely ally in its quest to block the Ponca Tribe from opening a casino in Carter Lake.

According to Omaha World-Herald, the state of Nebraska has joined Iowa in its federal lawsuit seeking to stop the development of a casino on five acres of land in Carter Lake, which is owned by the Ponca Tribe.

Nebraska named the National Indian Gaming Commission and the U.S. Department of the Interior, which administers the Bureau of Indian Affairs, as its defendants.

The two states have different reasons why they wanted to stop the Ponca Tribe from constructing a casino. Nebraska, where casino gambling remains illegal, fears that the opening of Ponca casino will result in the rise of problem gamblers in its own backyard. Iowa, on the other hand, is concerned that the opening of the tribal casino will result in less tax revenue collection from non-Indian gambling outlets in the state.

Bali to host XBlockchain Summit in the lead-up to IMF-World Bank annual meeting

Gathering of global, regional blockchain leaders to showcase technology’s real-world implementation and forthcoming developments

JAKARTA, Indonesia, 30 May 2018 – A gathering of world leaders in blockchain technology and cryptocurrencies is assembling this October 09-10 in one of the world’s most popular destinations – Bali. Expected to be Asia’s flagship blockchain event, the XBlockchain Summit will be held in the lead up to the annual summits of the Board of Governors of the IMF and World Bank in Nusa Dua, placing participants on equal footing with the world’s top firms and investors. The summit will cover the latest in blockchain implementation and how it is being and can be used to transform organisations across sectors, including government, financial services, insurance, healthcare, the Internet of things and supply-chain management.

The summit will see the biggest names in the industry, with confirmed speakers and attendees include a mix of regional and international leaders and innovators in blockchain technology, such as:

• Founder of Ripple (US$25-billion market capitalisation) and Stellar (US$5-billion market capitalisation) cofounder Jed McCaleb

Gaming June: BetConstruct attends three events

Summer 2018 holds a number of exciting gaming events that BetConstruct is gearing up  for.

First up on June 4 – 6 is the EUROMAT Gaming Summit uniting the whole industry to discuss the trends and insights shaping the land-based gaming sector. The European market has always been essential for BetConstruct and it comes as no surprise that the company has lately obtained Romanian Class II Licence for its Retail Solutions. BetConstruct Regional Director David  Ozararat  will be present at Euromat sharing the company’s vision for the industry and market development.

Right after our team will be traveling to Serbia to attend Belgrade Future Gaming Trade Fair on June 5 – 6. Showcasing the whole product line-up with Sportsbook, Casino RNG, Virtual Sports and many more, the company will demonstrate its extensive Retail Solutions including Pocket Betshop, Betting Terminal and Cashier Client. To learn more about company’s solutions and new projects, visit BetConstruct at Stand A3.

On June 7 – 8 BetConstruct invites you to Russian Gaming Week expo to meet our team and learn more about company’s latest achievements. With the World Cup 2018 approaching, BetConstruct has been getting ready for the event upgrading its products and coming up with new attractive offerings. For operators willing to take up innovative strategies and solutions for this huge upcoming football event, BetConstruct will showcase its proven offerings like the industry-leading Sportsbook alongside with innovative projects. These include SpringBME, allowing to kickstart a sports betting and gaming business within a few days, and FeedConstruct, a real-time data supplier that will provide a wide coverage of betting odds for FIFA 2018. Make sure to visit BetConstruct at Stand B4 and learn more about company offerings.

Out of luck? Gambling companies turn to skill-based games to tempt millenials

The online gambling industry has a serious millenial problem. Despite impressive growth in recent years, gambling participation in the UK among 16-24-year-olds is at 35%, down from 51% in 2014, according to data from the UK Gambling Commission.

Instead of casino favourites like roulette, millenials are more likely found playing games of skill, whether that be Fortnite of social gaming classics like Candy Crush.

With online gambling operators looking to the future in an ever more consolidated industry, could a new breed of skill-based gambling games bring millenials back to the table?

Michal Palecek, CEO of skill-based games developer Chopsticks in the Apps, is available for interview on the subject.

Gaming, Racing & Wagering Australia 2018 returns with the first ever new Gaming Technologies & Innovation Day

The 9th Annual Gaming, Racing & Wagering Australia (GRWA) will return on 13-15 August 2018 at L’ Aqua, Darling Harbour in Sydney.

This year GRWA will host its first ever Gaming Technologies & Innovation Day on conference day one discussing the disruptive technologies including cryptocurrencies, blockchain, ICOs and other payment solutions. Mark Crawley, Compliance Manager from AUSTRAC will kick off the day by speaking about regulating crypto operators in Australia. The session will focus on digital currency exchanges, the regulatory framework, AML compliance and much more. Lucas Cullen, Blockchain Developer at Virtue Poker, will participate in a panel discussing the landscape of Blockchain in the gaming industry. Other highlights on Day One include a case study on ICOs as well as sessions on big data and AI.

Conference Day Two will focus on Casinos, Clubs & Gaming, where we will discuss the latest regulatory updates, alternative and innovative marketing solutions, esports and many more. Michael Sarquis, Executive Director of Office of Liquor and Gaming Regulation QLD, is a panellist on a session exploring the current regulatory landscape in Australia. Karen Gray, Director – Corporate Marketing & Engagement of BCLC, will also share how healthy and responsible players are good for business and revenue. Esports also continues to be one of the hottest topics in the gaming industry, therefore GRWA will look at the opportunities and developments of esports in Australia. Darren Kwan, the President of the Australian Esports Association will be showcasing a real-life case study on successful collaborations with some Australian clubs.

Conference Day Three will take a deep dive into Sports Betting, Racing and Wagering, where the spotlight will be put on the Point-of- Consumption Tax (POCT), the gambling ad ban, innovation in sports betting and racing, esports betting and much more. Stephen Conroy from Responsible Gaming Australia will be sharing his thoughts on the impact of the gambling ad ban during sports events. Learn more about how the ad ban will impact the wagering, broadcasting and sports industry. Furthermore, Andrew Vouris, Country Manager of Unikrn and Hai Ng, Co-Founder of Neomancer LLC & Spawn Point will sit together on a panel unravelling regional and global esports betting opportunities for operators.

IGT’s price drop an overreaction, analysts say

Last May 21, International Game Technology Plc (IGT) reported first-quarter revenue of $1.21 billion, a 5% increase year-on-year. It also reported a 65% increase of operating income, reaching $197 million for the same period. Despite the significant gains, just barely a week later, the company saw its stock value slide 16.2% from a May 14 high of $30.59 to $25.64. That fall came following reports of political uncertainty in Italy—where IGT has a substantial footprint—and, now, analysts with Deutsch Bank Securities Inc. (DBS) say that the market overreacted.

In a report, a copy of which was obtained by GGRAsia, DBS analysts Carlo Santarelli and Danny Valoy called the decline “overdone,” noting that the drop in stock price was unnecessary. The pair said, “We attribute the weakness to the following, in no specific order: 1) the secondary offering of 13.2 million [IGT] shares; 2) concerns around the euro; 3) concerns around Italian regulation given government uncertainty; and 4) a more trading-oriented shareholder base.”

The analysts further explained, “For every EUR0.01 move [softening] in the euro, relative to the U.S. dollar, IGT’s annual EBITDA is impacted by US$9 million. This is purely a translation impact and has no impact on cash/cash flow. Further, we would note that roughly half of IGT’s debt is denominated in euros, and as such, the face value of debt declines by approximately US$35 million for every EUR0.01 the euro moves lower.”

There has been political turmoil brewing in Italy for the past several years, stemming from the financial crisis from 2007 to 2009. Talks of a possible exit from the European Union (EU) have begun to surface, and have had an impact on the markets throughout the EU and the United States. However, the country’s interim prime minister, Carlos Cottarelli, has begun working diligently with legislators to avoid having the issue turn into a larger ordeal.

Andrew Dagnall: Knowing your customer is key factor for personalization

In this video with CalvinAyre.com’s Becky Liggero, BettorLogic CEO Andrew Dagnall shares how operators can use personalization to maximize profits during the World Cup 2018.

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Udenna plans $5B investment in Philippines’ Clark Global City

This week, the Udenna Development Corporation (UDEVCO) began work on ‘The New Center,’ a new central business district in Clark Global City in the Philippines’ Clark Freeport Zone (CFZ). It’s part of a 10-year plan that will see UDEVCO inject more than $5 billion into the area, including the construction of a casino and an entertainment complex, according to local media reports.

Udenna’s Chairman and CEO, Dennis Uy, said of the investment, “We are developing what will become the Philippines’ new center of business, life and innovation,” adding that the group had just acquired 177 hectares (437 acres) in the CFZ. He further stated, “Clark Global City will offer a global business destination and spur economic transformation outside of Metro Manila, complementing the government’s efforts to spread growth across the country.”

Clark Global City will be the home of top-grade office buildings, academic and sports centers, upscale retail markets and a hotel and casino. There will also be a large entertainment complex with the possibility of another casino being added by a different Udenna subsidiary.

The development, due to its location inside the CFZ, is perfect to offer an ideal economic, regulatory and operating environment. It offers direct access to Clark International Airport, located 10 minutes away. A new terminal at the airport is currently being built and, when complete, will provide a direct link to the road that leads to the development.

Erik Seidel offered Stanley Cup tickets, but with an odd catch

Erik Seidel is one of the most successful (albeit quiet) players in poker. He has eight WSOP bracelets, a WPT title and an EPT title. Over the long career, the New Yorker has accumulated more than $34.5 million in live action and was inducted into the Poker Hall of Fame in 2010. He recently traveled to Las Vegas for the Super High Roller Bowl (SHRB), but was sent to the rail early in the tournament. Since he was in Vegas with nothing else to do, he decided he wanted to see the first game of NHL’s Stanley Cup championship between the Vegas Golden Knights and the Washington Capitals, and set out to score a couple of hard-to-find tickets. His wish was answered, but they came with a strange twist—he had to dress as Elvis Presley.

On May 27, Seidel posted on Twitter, “Looking for 2 Golden Knights [tickets] for [tomorrow]…” The following morning, he returned to Twitter, saying that his request had been answered. He didn’t specify the supplier, but tweeted, “Got offered Golden Knights tickets on the glass, but I’d have to dress as Elvis.  I love this town.”

In photos published on Twitter, the 58-year-old Seidel was seen in costume, along with about 11 other Elvis impersonators. He didn’t have the famous Elvis sunglasses or sideburns, but he did wear a rhinestone white jumpsuit often associated with “The King.” All of the impersonators were wearing the same jumpsuit—many with the sideburns and glasses—and they all had the Golden Knights logo emblazoned on the back.

Elvis is in the building pic.twitter.com/GJKOhyfpTP

Super High Roller Bowl final: Bonomo beats Negreanu for the title

Justin Bonomo has won back-to-back Super High Roller Bowl events after adding the Las Vegas title to the one he won in China after beating Daniel Negreanu in heads-up action.

Justin Bonomo is the winner of the Super High Roller Bowl (SHRB) capping off a remarkable 2018 that has seen him win close to $14m in live tournaments with the World Series of Poker (WSOP) flashing a thigh around a bedroom door just a few miles from here.

Bonomo’s consistency in the most significant events in the world is second to none, but only recently has he managed to cross the finishing line with more accuracy including back-to-back SHRB victories after winning SHRB China a few months ago for close to $5m.

His win sees him move to #3 in the All-Time Money Earned charts in the Hendon Mob with close to $32m, leapfrogging Daniel Colman and Antonio Esfandiari, two of the three people to earn more in a calendar year than Bonomo (both won the One Drop). The other player who has received more is Fedor Holz who won $16m in 2016, a target that’s well within the sights of the American.

Becky’s Affiliated: A peek behind Calvin’s 57th Birthday Party & long live good planners!

[youtube https://www.youtube.com/watch?v=dsc_dtnr_2U]

When I learned Calvin was going to be in London on May 25th, his 57th birthday, I told him I’d help organize a casual celebration with friends. First person I called was Michael Caselli and we threw around some ideas, next person I called was Jodie Thind for more ideas and the three of us then met in person to get the ball rolling.

Around the same time, I stopped by my boyfriend’s restaurant Tziganos and a regular customer was there to change her reservation. I couldn’t help but notice her American accent, so we got chatting (as us Americans sometimes tend to do) and was straight away drawn to her positive energy.

During our brief conversation I learned Julie Girgenti has her own luxury events planning company Exceptional Events, she and I randomly have a mutual iGaming industry friend (Lee-Ann Johnstone) and she is interested in learning more about the cryptocurrency world.  We agreed to meet up for a drink the following weekend to continue our discussion.