Aussie Stakeholders React to Sports Betting Ad Ban

Posted by admin | Casino Affiliates | Sunday 30 April 2017 3:15 pm

Australian bookmakers and online operators are not happy about a proposed “bell to bell” ban on sports betting ads during live sports broadcasts.

Groups from the Australian Football League (AFL) and the National Rugby League (NRL) to broadcaster like Channel Nine, have all chimed in their dismay regarding the draconian new set of advertising regulations.

Their tactics in fighting the measure seem to rest on pointing the absurdity of the Communications Minister’s arguments regarding the impact of live sports betting advertisements on the Australian public.

For example, an unnamed representative of the Australian broadcaster Channel Nine told the Sydney Morning Herald that gambling ads aren’t quit the problem their opponents make them out to be saying that TV ads:

…do not reflect the reality of how audiences are exposed to gambling advertising, and the sensible approach would be to include all platforms.

A representative of the AFL reportedly told the Communications Minister that sports betting only about 5 percent of Aussie gambling and isn’t quite the problem its been made out to be.

His league, and some broadcasters, are looking for a compromise deal that will protect sports betting ad income by meeting anti-gambling activists halfway. This group is suggesting that the ad ban move forward, but that it only cover broadcasts before 8:30 p.m.

Broadcasters also warn that banning live betting ads from television won’t make them go away entirely. They’re telling anyone who will listen that the ban will only shift operators’ ad dollars online, potentially to illegal offshore operators.

Further discussions on the sports betting ad ban are scheduled for May 9, when the Australian Parliament resumes business.

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Legalized Sports Betting in the US, Will it Happen Under Trump?

Posted by admin | Casino Affiliates | Friday 28 April 2017 3:15 pm

Will Donald Trump be the person who finally brings down the utterly absurd US ban on regulated sports betting?

Many people are saying just that and, no matter what he does, there seems to be a clear softening of attitudes towards the ban from its biggest supporters, US professional sports leagues.

Even Geoff Freeman, president and CEO of the American Gaming Association, has described the current state of affairs as, “a perfect storm,” for reintroducing sports betting into the US gambling ecosystem.

So why is the US gambling community so excited, even though no lawmaker has introduced anything remotely resembling a sports betting ban repeal?

For starters, sports betting dreamers have seen a slight thaw in the attitude of professional sports leagues towards ending the ban. In particular, they look towards the NFL’s recent decision to allow the Oakland Raiders to become Nevada’s first professional sports team.

While that may seem like a big deal, it really isn’t.

The idea that organized crime might infiltrate a sports team based in Las Vegas was not such a far-fetched idea in the 1960′s and 1970′s when the mob ran Vegas. These days, corporations run Vegas and the NFL isn’t quite as concerned about Vegas-based game fixing.

That said, NBA Commissioner Adam Silver has mentioned that the ban should be lifted and the NFL has definitely embraced daily fantasy sports.

Other sports betting enthusiasts point towards Trump’s long-held ties with the gambling industry and his relationship with casino magnate Sheldon Adelson. Adelson donated tens of millions of dollars to the Trump campaign and there’s no reason to expect that he doesn’t expect something in return.

So far, however, Trump hasn’t shown any signs that he’s going to pay Sheldon’s kindness with anything at all.

As of this writing, the US President hasn’t made any moves towards lifting the ban and doesn’t seem to have the political capital to make such move anyways.

 

Despite

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Surprise! Nevada is America’s Most Gambling Addicted State

Posted by admin | Casino Affiliates | Wednesday 26 April 2017 3:15 pm

What is the US State that’s most addicted to gambling? The answer to this one seems pretty obvious to the layman and if you guessed Nevada, you’re right on the money.

According to a recent study by WalletHub, a financial information firm, Nevada residents are more likely than any of their American peers to succumb to the evils of problem gambling. The Silver State does, however, have some pretty serious competition from the gambling mad residents of South Dakota and Montana.

The use of the term “addicted, in the case of this particular study, is a bit misleading. WalletHub did not simply measure the number of people seeking treatment for gambling problems, but rather evaluated a set of 15 criteria that measure “gambling friendliness.”

While “Gambling Problem & Treatment” is definitely examined in the study, it only accounts for about 30 percent of a state’s overall score.

Factors that weighed more heavily included things like, Commercial & Tribal Casinos per Capita, Presence of Illegal Gambling Operations, and Legality of Daily Fantasy Sports. (In the category of casinos per capita, Nevada, South Dakota and Oklahoma scored nearly evenly.)

This broad range of categories that determined gambling friendliness is so diverse that Utah, one of just two US States with no regulated gambling, did land in the #50 spot and was merely the 48th most gambling addicted state. The final spot on the study’s rankings went to Alabama, which only hit around 13 percent of the study’s criteria.

The study drew its data from a broad swath of sources including the US Census and the American Gaming Association.

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Pennsylvania Casinos Post Record Revenue for March ’17

Posted by admin | Casino Affiliates | Monday 24 April 2017 3:16 pm

Pennsylvania’s regulated casino gambling industry posted its highest revenues, ever, in March 2017 when it comes to table games.

According to a recent statement from the Pennsylvania Gaming Control Board, gross table games revenue clocked in at $ 79,543,775 compared to $ 77,914,245 during that same period in 2016. That’s an increase of roughly 2 percent. March must be a time when Keystone State residents love hitting the felt because the previous top revenue month was March 2016.

Leading the revenue charge was the Sands Casino Resort Bethlehem, which is owned by political activist Sheldon Adelson. The Sands drew in a whopping $ 21.36 million in gross revenue in March. That’s up from $ 19.68 million the previous March and accounts for an increase of 8.58.

The state’s lowest revenue producing casino for March 2017 was the Rivers Casino in Pittsburgh. For reasons not fully explained by state regulators, table revenue at the Rivers dropped to $ 5.9 million from $ 6.7 million the previous March. That’s a drop of almost 12 percent.

Of course what’s good for the goose isn’t always good for the gander. Pennsylvania’s incredible success with regulated casinos has always come at the expense of the casino gaming industry in nearby Atlantic City.

    Ever since Pennsylvania introduced regulated casinos gambling in 2006, its 12 casinos have been siphoning customers away from the New Jersey Shore. A devastated Atlantic City has had incredible problems competing with its next door neighbor and Pennsylvania now carries the title of America’s second largest regulated gambling market. Las Vegas has held the top spot since right around 1933.

All told, combined revenue from Pennsylvania’s regulated table gaming operations for March 2017 was $ 12,837,539.

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IGT Selling DoubleDown Social Casino for $825 million

Posted by admin | Casino Affiliates | Saturday 22 April 2017 3:15 pm

International Gaming Technology (IGT) is set to sell its DoubleDown social casino to DoubleU Gaming for $ 825 million. The acquisition also includes an extended strategic partnership between the two social casino giants.

The deal is a very positive move for IGT, which acquired the DoubleDown Social Casino from its Seattle founders for $ 500 million in January of 2012. At the time, that price was generally regarded as being a bit high for that market space, but clearly IGT saw something in the social startup that the rest of the industry didn’t.

There’s no escaping the fact that the DoubleDown Social casino has been a blessing to every company that’s owned it at one point or another. According to a joint statement from IGT and DoubleU Gaming, the $ 825 million sale price is approximately 10.5x the adjusted 2016 revenue flow from the site.

IGT CEO Marco Sala celebrated his company’s relationship with DoubleDown while explaining the sale saying:

Since acquiring DoubleDown in 2012, IGT has grown it into one of the largest and most successful brands in the North American social casino market. After several years of strong, organic growth and increasingly attractive valuation levels, the time is right for us to maximize the value of this asset for our shareholders. We will continue participating in the growth of the social casino market through our multi-year, strategic partnership with DoubleU Games.

Both companies plan on working together on game development once the deal is closed. As of this writing, the sale is still pending while awaiting the approval of financial regulators.

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PlayON Secures Spot as Official NBA Daily Fantasy Sports Operator

Posted by admin | Casino Affiliates | Thursday 20 April 2017 3:16 pm

PlayON Sports is partnering with the NBA to become the league’s official daily fantasy sports operator for international markets.

The deal is a major step forward for PlayON and something of a slap in the face to DFS giants DraftKings and FanDuel.

Under the terms of the deal, PlayON will be providing daily fantasy sports tournaments to players in regulated international markets. While any operators can already offer such services, PlayON will be authorized to use NBA logos and other promotional images in marketing its services.

PlayON will also be working with the NBA’s local partners in these markets. PlayON founder and CEO told Legal Sports Report that this is a major advantage for his company saying:

The NBA’s local partners have a strong presence in their respective markets and we are looking forward to working closely with each of them to build engagement with the localized daily fantasy NBA game.

The bigger question for anyone who watches the international daily fantasy sports market is why the NBA chose not to go with DraftKings or FanDuel, two of the biggest names in the industry. In all likelihood it’s because PlayON already has a very strong presence in the international markets this deal focuses on. PlayON is a well-established name in fantasy cricket and rugby and boasts large user bases across international daily fantasy sports markets.

It’s not particularly surprising to see the NBA take the lead in bringing US professional sports leagues to international daily fantasy sports markets. The NBA is, by far, the most friendly league to sports betting and it commissioner has frequently spoken out on the need to legalize sports betting in the United States.

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IGT Selling DoubleDown Social Casino for $825 million

Posted by admin | Casino Affiliates | Tuesday 18 April 2017 3:15 pm

International Gaming Technology (IGT) is set to sell its DoubleDown social casino to DoubleU Gaming for $ 825 million. The acquisition also includes an extended strategic partnership between the two social casino giants.

The deal is a very positive move for IGT, which acquired the DoubleDown Social Casino from its Seattle founders for $ 500 million in January of 2012. At the time, that price was generally regarded as being a bit high for that market space, but clearly IGT saw something in the social startup that the rest of the industry didn’t.

There’s no escaping the fact that the DoubleDown Social casino has been a blessing to every company that’s owned it at one point or another. According to a joint statement from IGT and DoubleU Gaming, the $ 825 million sale price is approximately 10.5x the adjusted 2016 revenue flow from the site.

IGT CEO Marco Sala celebrated his company’s relationship with DoubleDown while explaining the sale saying:

Since acquiring DoubleDown in 2012, IGT has grown it into one of the largest and most successful brands in the North American social casino market. After several years of strong, organic growth and increasingly attractive valuation levels, the time is right for us to maximize the value of this asset for our shareholders. We will continue participating in the growth of the social casino market through our multi-year, strategic partnership with DoubleU Games.

Both companies plan on working together on game development once the deal is closed. As of this writing, the sale is still pending while awaiting the approval of financial regulators.

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DOJ Launches Absolute Poker Compensation Program

Posted by admin | Casino Affiliates | Sunday 16 April 2017 3:14 pm

The US Department of Justice is offering a new compensation program aimed at reuniting former Absolute Poker players with the money that’s been sitting in their accounts since the site was shuttered on Black Friday.

Yesterday afternoon acting US Attorney for the Southern District of New York Joon H. Kim announced the plan, which will be administered by the Garden City Group (GCG). Joon, it should be noted, is in his position on a pro tem basis until a full-time replacement for his predecessor Preet Baharara is found. Baharara was recently fired from his position by the US President.

GCF is the same outfit the DOJ used to administer its compensation program for Full Tilt Poker Players. So far the company has successfully reunited former FTP players with approximately $ 118 million of their long lost cash.

While Absolute Poker’s long-suffering players are certainly glad to hear the news that compensation may be on its way, there are still a number of questions that remain unanswered. For starters, why start compensating now?

At this juncture, the DOJ has given no indication that Absolute Players can expect full refunds, or even what prompted the compensation program, six years after Black Friday.

There’s also the question of the rushed timetable. In its announcement, DOJ officials say that Absolute Poker players have until June 19 to file their claims, but gave no indication as to why they were moving so quickly. It is possible that they are looking to clean up as many of Baharara’s cases as possible before appointing his replacement, but there’s no indication one way or the other.

That said, anyone who thinks they qualify for compensation under that plan should register their claims at www.AbsolutePokerClaims.com or call 1-855-907-3254.

 

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New Jersey Online Gambling Posted Record Revenue in March

Posted by admin | Casino Affiliates | Friday 14 April 2017 3:14 pm

New Jersey’s rapidly growing online gambling industry posted record revenue during for March, 2017. That success, in turn, boosted the overall revenue of Atlantic City casinos, just like the system was supposed to work in the first place.

The good news from the Garden State was released on Wednesday by the state Division of Gaming Enforcement (DGE) in their monthly revenue report.

Overall, New Jersey online gambling revenue was up a whopping 40 percent over March 2016. That translates into $ 21.7 million dollars, compared to just $ 15.5 million last March.

The big winner on the online side of the NJ casino industry was the Golden Nugget, which took in more than $ 6 million from its online operations.

In terms of overall growth, Resorts Digital saw the most movement. The tiny operation posted $ 4.2 million in March this year compared to just $ 1.8 million last month. That’s an increase of 123 percent, according to a report in the Las Vegas Sun.

On the land-based side of the casino business, things were looking similarly bright. The Atlantic City casinos posted $ 200.1 million in revenue last month. That’s an increase of 6.7 percent over the previous year.

The seven remaining land-based casinos definitely benefited from decreased competition since the closing of the Trump Taj Mahal last year.

Many in the Jersey political and gambling worlds saw March’s big numbers as vindication of their plan to use online gambling to boost Atlantic City casino revenues.

Matt Levinson, chairman of the New Jersey Casino Control Commission told the Sun:

When coupled with the very strong earnings report that came out last week, it’s clear that casinos have started to grow the market and increase their profits. That is generating a lot of positive interest in Atlantic City and has already attracted significant new investment in this market.

Overall, New Jersey online gambling revenue is up 32 percent in the first three months of 2017.

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Canadian Investors Seek to Acquire Rummy Site Ace2Three.com

Posted by admin | Casino Affiliates | Wednesday 12 April 2017 3:15 pm

An investment group led by the Canadian firm Clairvest Group, Inc. is looking to buy Ace2Three.com, an Indian rummy site. It’s a deal that could bring big profits to Clairvest, and less heat from regulators for the site’s current owners.

Details of the deal are still emerging, but here’s what we know so far. According to Glaws.in, an Indian news site, Clairvest and its associates are paying somewhere between $ 90-$ 100 million to acquire what is generally known as India’s top rummy site. That investment amounts to about 85 percent of the company’s total worth.

Deepak Gullapalli, the company’s founder and current CEO is expected to retain a 15 percent share of the company.

Clairvest is not the first firm to express interest in acquiring the Indian rummy site. Late last year, a group of Indian investors were looking to purchase the site but were put off by its $ 90-$ 100 million price tag.

While Ace2Three.com is one of India’s best known rummy sites, it’s an acquisition that also comes with a little baggage. For starters, there’s talk that the site may not be the top rummy site for long. Over the last 12 months, competitors such as Junglee Rummy have been nipping at Ace2Three’s market share and revenue.

Ace2Three has also been the subject of an investigation by the police in its home town of Hyderabad. Though most sources agree that the investigations verge on harassment and don’t have much in the way of merit, they’re still a nuisance that the company, and its owners, must deal with.

Whatever issues come up, it’s likely that Clairvest has the brain power to deal with them. As of this writing, approximately 40 percent of the company’s assets are in the form of gaming companies.

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