BUSINESS

Gaming Industry News Weekly Recap – Stories You Might Have Missed

TAGs: weekly recap

november-1-new-weekly-recap-thumb-282THE AMERICAS

Nevada Gaming Commission removed the “soft launch” tag from South Point’s RealGaming online poker site, making it the third fully operational online poker room in Nevada. Darren Woods faces a maximum jail term of 10 years after pleading guilty to fraud offences linked to online gambling. The Massachusetts Gaming Commission considers an innovative idea called play management to help curb problem gambling, where gamblers are given incentive to set loss limits on their play. Referendum Proposition 48 is set to divide the state of California as to whether the North Fork Rancheria of Mono Indians can build a casino on tribal land. Sheldon Adelson oppose Florida’s Right to Medical Marijuana Initiative also known as Amendment 2, bringing $5 million contribution for the anti-Amendment 2 campaign. The Californian Lottery has announced a $5bn sales barrier, in the 2013/14 fiscal year. Wynn reported 3Q revenue of $1.37 billion from $1.39, 1.4% year on year decline due to down Macau market.  Nevada has reported a 6% year-on-year decrease in September revenue, making it the second straight month decline. Nevada politician, Steven Horsford, has hit back at the Mayor of Denver’s assertion that Internet gambling is for “Chumps” in an op-ed. U.S. District Judge Michael Shipp announced the November 20, 2014 court date for the state and league to voice out their arguments on whether the ban on sports betting in New Jersey should be extended. Atari has entered the social casino space with the unveiling of Atari Jackpots; iSoftBet announced a new partnership w/ Interwetten. MGM Resorts International has reported a consolidated quarterly revenue of $2.23 billion in the last three months, a 1% year-one-year increase and a 2% improvement of its EBITDA.

EUROPE

Intralot have walked out on its deal with Tatts Group Limited to operate the keno and scratchcard business in the Australian state of Victoria. Cozy Games signed a deal with GoCoin, becoming the first regulated iGaming operator in the world to offer cryptocurrencies to cope up with the UK’s 15% POCT. Odobo has brought the Gala Coral Group’s Coral Interactive, gaining access to HTML5 developer’s game distribution network. Rebecca Liggero’s video team covered the inaugural “Summit of iGaming, Malta (SiGMA) held at the Intercontinental Hotel in Malta’s St. Julian’s Bay.

ASIA

Miyagi angles to get a piece of Japan’s casino market as a way to speed up recovery of the region affected up by earthquake and tsunami in 2011. VinaCapital prepares to begin construction of its $4 billion integrated resort and casino project in South Hoi; finalize negotiations with a new investor replacing Genting. Sri Lanka President proposed a few changes in the country’s Betting and Gaming Levy Act, including a $100 entrance fee, a raise of the gaming levy to 10% of turnover, and the introduction of a 5% tax on the gross collections of casinos. PAGCOR reports earnings in first nine months of 2014,  accounting for a 4% year on year improvement due to higher gross gaming revenues and lower expenses.

 

 

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