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Gaming Industry News Weekly Recap – Stories You Might Have Missed

TAGs: Betfair, greece, Nevada, New Jersey Online Gambling, weekly recap

weekly-news-recap-March-13-smallNevada introduces online poker bill that would permit foreign operators:
Nevada politicians unveiled three online gambling bills this week, but the one that raised eyebrows highest was AB258, which would permit operators to share poker liquidity beyond state borders, and would also not block foreign operators from bidding for a license.

Betfair to operate under Gibraltar license:
Betfair expects to save £18.5m a year by shifting its license to Gibraltar. The move has alarmed everyone from the British Horse Racing Board to sport integrity watchdogs, but Betfair’s stock rose above 900p on the news, so the betting exchange may decide to relocate parts of its business every week.

New Greek market opts for gross profit tax model:
Greece unveiled the official taxation model for its upcoming online gambling market, ditching the 6% turnover tax in favor of a 30% gross profit tax.

New Jersey’s sports betting court challenge dismissed:
Nobody rub up against NJ Sen. Ray Lesniak for luck, because he’s got none to spare. Just a week after Gov. Chris Christie vetoed Lesniak’s online gambling bill, a US District Court judge dismissed the senator’s challenge of the federal prohibition against sports betting.

Caesars/888 relationship approved by Nevada Gaming Control Board:
Nevada’s GCB approved the ‘suitability’ of the proposed relationship between Caesars Entertainment and 888 Holdings’ subsidiary Dragonfish. Caesars plans to offer WSOP-branded services to UK punters if/when the Nevada Gaming Commission upholds the GCB’s decision on March 24.

Stanley Ho settles asset dispute with family:
After more twists and turns than a turd passing through an aging Macau casino magnate’s intestines, Stanley Ho has apparently reached a satisfactory deal with his scheming relatives over the distribution of his assets.

Bodog deals one billionth hand of blackjack:
Bodog set another online gambling milestone last week by dealing its one billionth hand of blackjack. The lucky bettor will now be offered his/her choice of a couple of exotic all-expenses paid travel options.

Two online gambling bills introduced in Florida Senate:
Not wanting to be seen as being less hip than Iowa, Florida decided to throw its hat into the online gambling ring. Two bills were introduced into the state senate that would allow intrastate gambling via parimutuel hubs.

Paddy Power ankles spread betting sideline:
The Irish betting giant decided to pull the plug on its spread betting offshoot PaddyPowerTrader. The cancelling of the white-label relationship with London Capital Group sent LCG’s stock price down 15%, a stark reminder that nobody looks good getting dissed by an Irish company this close to St. Paddy’s.

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