Online gambling group 888 Holdings plc issued its first quarter 2013 results and its interim management statement Tuesday, reporting another successful quarter and promising business prospects. Q1 2013 Key Performance Indicators to the three months ended 31 March 2013 were: * Group revenue reached a record US$103 million (Q1 2012: US$94 million), an increase of …
The news Monday that U.S. activist investment fund Third Point had been disqualified from the sale of Greek gambling monopoly OPAP means that only one bidder is left in the race…and the offer from that bidder is disappointingly low. Third Point fell out of contention when it was disqualified because it insisted on a right …
Steve Shillinger, one of the co-founders of pioneering sports betting company World Sports Exchange, which closed its doors this week due to financial problems was found dead from a gunshot wound Saturday, reports the information portal Gambling911. Apparently foul play is not suspected. Shillinger founded WSEX in partnership with Jay Cohen and Hayden Ware, 911 …
The New York investment company MGT Capital Investments put its corporate toe in the online gambling water this week, announcing that it is about to take a controlling interest in an established fantasy sports betting operation branded FanTD LLC. Commenting on the announcement, Robert Ladd, MGT’s president and CEO, said that a subsidiary, MGT Sports, …
The Bulgarian Finance Ministry has named the new head of its State Gambling Commission to be Ivan Enicherov, who will succeed Kaloyan Krastev. Prior to the appointment Enicherov was a head of division within the Bulgarian Legal Department of the Ministry of Finance and was a member of the State Gambling Commission from 2004 to …
Emma Delta, a fund advised by Emma Delta Management Ltd which is beneficially owned by Czech investor Jiri Smejc (66,7 percent) and Greek shipping tycoon George Melisanidis (33,3 percent) is the last bidder left in the sale of a 33 percent shareholding in the Hellenic Football Prognostics Organisation S.A. (OPAP) as US. fund Third Point …
E-money network UKash has been honoured for the third consecutive year in the Queen’s Awards for Enterprise for its contribution to International Trade. The e-money transaction processor boasts a 65 percent year on year growth driven by an increase in acceptance of the format as a viable alternative to traditional banking and/or credit facilities. David …
The much anticipated Pennsylvania online gambling legalisation bill HB1235 authored by Rep. Tina Davis, has been launched in the State’s House at last, albeit substantially edited. If the Davis proposal makes it through the Pennsylvania Legislature and the governor’s desk, the Pennsylvania Gaming Control Board will be responsible for regulations and licensing. Davis’s originally expensive …
Irish online betting start-up Oddball.ie is confident on its prospects forecasting a market share of 10 percent of the Irish betting market by 2015. The company, founded by engineering and business studies graduate of Dublin City University Éanna Ó hIorua uses what it described as a unique “self correcting” maths algorithm to create a fluid …
The owners and operators of Foxwoods Resort Casino, the Mashantucket Pequot Tribal Nation (MPTN) has entered into a partnership agreement with GameAccount Network aimed at pursuing online gaming opportunities in the United States. The alliance will initially focus on play-for-fun online gaming opportunities in the US in anticipation of legislation being enacted allowing real-money wagering. …
Online sports book World Sports Exchange (WSEX) shut down its operation this week citing inadequate financial resources as the reason why. Our readers will recall the abrupt closure of WSEX’s World Poker Exchange subsidiary in February this year . In a similar notification to the closure of its poker subsidiary, WSEX posted a brief communication …
EveryMatrix’ OddsMatrix software has been awarded a Foreign Gambling Associate Certificate in Alderney effectively authorising it to provide its products to holders of an Alderney Category 1 gambling license. Two un-named Category 1 licensees have reportedly agreed terms with the firm on the back of the award and are currently at integration stage, revealed a …
The initial moves by private equity company CVC Capital Partners to acquire British online betting company Betfair has been rejected by the company’s board of directors. In a market communication Monday, Betfair noted that on 15 April 2013, CVC Capital Partners Limited announced that it was in preliminary discussions with Richard Koch, Antony Ball and …
Bwin Party Digital Entertainment’s strategy to abandon legally ‘grey’ markets, announced in its last financial reportage appears to have been implemented. Marketing affiliates reported Saturday that they had received an email from the company advising that new sign-ups would be blocked from April 30 2013 onwards, and asking them to take down all promotional and …
An alleged lottery ticket fraud dating back to 2006 and involving $5 million in prize money has surfaced in Syracuse, New York according to a report in the publication Syracuse.com. The case involves two brothers from central New York who claimed a $5 million lottery ticket sold at their family’s convenience store and who have …
New York State Senator Tim Kennedy, a Democrat from Buffalo, is concerned about the possible effect of legalised online gambling in neightbouring states like Delaware and New Jersey, according to a statement he issued Friday. Kennedy writes that the legalisation of online gaming in individual states across the United States could lead to increased illegal …
Traditional racecourse bookies, with their colourful language and hand signals, are very much a part of the racing experience, but modern technology may soon be presenting new challenges to their businesses, reports the publication This Is Money. The Jockey Club, which owns around 15 of UK’s top racecourses, is reportedly in talks with media partner …
Last week’s Ohio enforcement raids on six internet cafes allegedly providing illegal online gambling through a ‘sweepstakes’ system has resulted in the indictment of 11 individuals and eight companies, the state Attorney General’s office reports. And there could be more in the future, according to Ohio Attorney General Mike DeWine, who said of the indictments: …
The massive enforcement swoop on internet sports betting and poker that started in New York and spread across the United States last week had a sequel in a federal court in Manhattan Friday, when more than 30 defendants pleaded not guilty. Over the weekend, the Associated Press news agency succinctly summed up the widely reported …
The World Sports Exchange, a pioneering online sports betting operation in the Caribbean which has been making headlines – often for all the wrong reasons – since the ‘nineties, has finally closed. The site has frequently been the focus of attention from enforcement agencies, but the management claims the “halt” in operations is the result …
Speculation on where Legendz Sports players will be referred following the closure of the sportsbook has been ended with an announcement that account balances are to be transferred to Costa Rica-based WagerWeb Sportsbook. In a notice to players late Friday, Legendz advised: “Due to recent events surrounding Legends Sports’ gaming license being revoked in Panama, …
Online gambling industry observers will be taking an interested look at the new Sunday Times Rich List, due for publication this weekend and detailing the richest folks in Britain. Pre-publication publicity suggests that the Coates family, which owns the popular bet365 internet gambling enterprise, will be among these super-successful people, and is close to becoming …
Answering an enquiry from New Jersey legislative budget chief David Rosen this week, the state treasurer reiterated his assessment that the legalisation of online gambling will generate $225 million in state taxes, and that the New Jersey Division of Gaming Enforcement is tasked with delivering and implementing online gambling regulations sometime between late May and …
Digital sports media group PERFORM has expanded its rights portfolio in a deal with media rights company MP&Silva. The rights package includes the Italian football league (Serie A), the French leagues and Cup (Ligue 1 and 2 and Coupe de la Ligue), Brazilian Serie A and Campeonato Paulista, MLS, Turkish Cup, the English Championship, League …