Nothing will work unless you do.
—John Wooden
9th August 2018  
 
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The Story

Australian gambling company Tabcorp has set a new record after it netted AU$28.7m (US$21.31m) in profit, climbing 71.7% in FY 2017 compared to its dismal FY 2016 performance.

 

Tabcorp made an impressive showing despite facing headwinds.

CEO and managing director David Attenborough said that FY2017 has been a “company defining year” as it incurred profit growth despite losing $20.8m in the previous year and paying a $50m fine for exiting a Sun Bets venture. Full-year revenue came in at AU$3.83b (US$2.83b) and Tabcorp declared a final dividend of AU$0.10 (US$0.07) per share. Attenborough said that Tabcorp is expected to thrive despite the implementation of new government reforms like the introduction of point of consumption taxes and the prohibition of synthetic lottery products.

 
 
 
 
 
 
 
 
 

A celebration to remember at the intersection of iGaming and Bitcoin BCH

In this edition of Becky’s Affiliated, CalvinAyre.com’s Becky Liggero shares why the recently held CoinGeek Bitcoin Rebirth Party held in London is one for the books.

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Bitmain’s valuation reaches $15 billion following latest funding

After the China-based crypto mining company closed its latest funding round, it is now valued at $15b and is ready to for a possible initial public offering (IPO) next month.

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  ASIA
Duterte shuts Philippines’ doors to new casinos

The Philippines won’t be seeing any new casinos built under the administration of President Rodrigo Duterte after the firebrand chief ordered state regulator PAGCOR to stop issuing casino licenses to new investors.

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  EUROPE

Belarus could soon allow online gambling

President Alexander Lukashenko signed a new law that will provide established procedures covering the licensing and taxation procedures for online gambling.

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Paddy Power Betfair trims outlook despite robust H1 bottom line

Irish bookmaker lowered its full-year EBITDA outlook, placing it between £460m ($591.43m) and £480m ($617.14m) due to additional taxes and losses from its growing U.S. business.

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  NORTH AMERICA

Wynn Resorts appoints two new directors to its board

Elaine Wynn is slowly getting what she wants after two new directors have been appointed to the Wynn Resorts board just days after Phil Satre was named vice chairman.

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Lottery sales and prizes in Pennsylvania hit record amounts

The Pennsylvania Lottery marked the seventh year that it reached $1b in revenue, all of which will go to the benefit plans of the state’s senior citizens.

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  FACT YOU NEED TO KNOW
 

Viktor Blum, who became famous in the online poker world as Isildur1, turned his $2,000 to $5.98m in just a few months after playing against Haseeb Qureshi, Brian Townsend, Patrik Antonius, and Cole South. He then lost $3.2m when he played against Phil Ivey for a week.

 
 
 
 
 
 
 

Full schedule, speakers out for first sports betting symposium at G2E 2018

The Sports Betting Symposium, taking place in Las Vegas on October 8-11, will give gaming professionals the tools they will need to capitalize on the abolition of the federal ban on sports betting in the U.S.

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Good luck to 888 Senior VP and Head of Commercial Development Yaniv Sherman for his relocation in the U.S.! Sherman will lead the company’s expansion in the regulated U.S. market and will be heading 888’s Business Development and B2B operations.
 
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