Embattled Spanish gaming firm Codere will restructure Euro 1.1 Billion of debt and avoid insolvency following an agreement with creditors. Codere filed for preliminary creditor protection in January and had until this week to reach an accord or start insolvency proceedings. Part of the debt refinancing deal will see founders, the Martinez Sampedro family, give …
The Gibraltar Betting and Gaming Association’s (GBGA) challenge on the UK Gambling (Licensing and Advertising) Act 2014 which was heard before Lord Justice Green in the High Court this week, (see previous report) has seen the UK Gambling Commission (UKGC) postpone the implementation of the controversial Act until November 1, 2014 despite the court rejecting …
California State Senator Roderick Wright (62) has ended his almost 20-year political career following sentence handed down by a Los Angeles judge convicting him of felony perjury and voting fraud charges. Los Angeles County prosecutors claimed Wright had misled voters by pretending to live in the district he represents when he ran for the Senate …
Atlantic City, the one-time U.S. East Coast gambling capital, had its credit rating cut one level to BBB+ by Standard & Poor’s following a similar downgrade by Moody’s Investor Service earlier this year. The rating cuts follow the loss of potentially five of its twelve casinos this year, despite what was coined the “Atlantic City …
Former Sportsbet owner, Matthew Tripp, will launch online and mobile betting firm BetEasy into the Australian market Tuesday backed by a “big spending” marketing campaign that coincides with the popular Spring Carnival racing season. Tripp told the Financial Review that his new venture will forgo some profits in order to increase turnover and will not …
A new Malta-licenced online casino went live this week at Casino Cruise.com. The new destination, operated and managed by OddsMatrix Ltd, offers a range of games from Microgaming, Net Entertainment, Vivo Gaming, and Play’nGo via the EveryMatrix platform. Casino Cruise.com predictably carries a rather average nautical cruise ship theme throughout the website, offers full player …
Betway and Matchroom Sport have entered into a deal naming Betway as title sponsor of the forthcoming World Cup of Pool, an international team event that determines the world pairs champions. The Betway World Cup of Pool is entering its ninth year and features 32 two-player teams competing in a straight knock-out scotch doubles tournament. …
Gaming and sports betting group GVC Holdings PLC delivered strong Interim Results for the six months ending June 30 2014 reflected by a special dividend in addition to its quarterly dividend. Key performance highlights include: – Wagers up 38 percent to Euro 694 million (H1/2013: Euro 502 million) – Sports margin 9.9 percent (H1/2013: 10.3 …
Winner.co.uk has been named West Ham United Football Club’s partner for the 2014/15 Barclays Premier League season. Under the terms of the deal, Winner has been granted the exclusive right to advertise on the Club’s LED boards at all West Ham United home games. Felicity Croft, commercial director of West Ham United said: “We look …
The entire South African National Gambling Board was reportedly suspended earlier this month pending the outcome of a forensic investigation. Minister of Trade and Industry Rob Davies ordered the suspension but reasons for the suspension are not forthcoming and remain sketchy. Media relations spokesperson for the Trade and Industry Department Sidwell Medupe told iAfrica.com: “The …
Online bookmaker 666Bet has partnered in a sponsorship agreement with Matchroom Boxing for Olympic gold medallist Anthony Joshua MBE’s first title fight against Dennis Bakhtov. The WBC International Heavyweight title will take place as part of Matchroom’s ‘Moment of Truth’ event at London’s 02 Arena on Tuesday 11th October. Under the terms of the deal, …
The saga of the beleaguered betting concierge BetButler continues as the company appoints insolvency practitioner, InsolvePlus following the revocation of its UK Gambling Commission operating licence (see previous reports). The business previously run by a former director of Farepak William Rollason and now director Andrew Hosie, owes customers GBP 500 000. “BetButler’s customers and their …
According to the South China Morning Post (SCMP), the Hong Kong Home Affairs Bureau will respect its citizen’s “freedom to access information” and would not consider “going down Singapore’s road” by blocking illegal gambling websites. The statement comes amid increasing calls for more stringent measures against illegal gambling operators and their perceived links to organised …
The New Zealand Problem Gambling Foundation (PGF) will appear in High Court tomorrow (Monday) to challenge a Ministry of Health decision that drastically cut its funding. The PGF was unexpectedly informed by the Ministry of Health earlier this year that the Ministry would no longer be contracting to the foundation for anything other than its …
Chinese high rolling gamblers are setting their sights on gambling destinations other than Macau as Chinese authorities clamp down on extravagance and corruption, Bloomberg reports. According to Morgan Stanley Hong Kong analyst Praveen Choudhary, Chinese gamblers are boosting growth in casinos from Manila to Las Vegas as they fly under the Chinese authorities’ radar, an …
Nevada’s first licenced online poker operator Ultimate Gaming will exit the New Jersey market, according to the Associated Press. Ultimate Gaming accuses its land-based partner, the Trump Taj Mahal Casino, of “multiple contract breaches”, saying it hasn’t been paid in two months and is owed $1.5 million by the Trump Entertainment Resorts-owned casino. “We wish …
In a letter written by New Jersey State Sen. Jim Whelan (D-Atlantic) and Assemblyman Vincent Mazzeo (D-Atlantic) to NBA Commissioner Adam Silver, a 0.25 percent fee on every bet placed and channeled to professional leagues such as the NBA, NHL, NFL and MLB was proposed. Proceeds would allow the leagues to employ independent measures in …
Following the relaunch of the bid for the Greek Mutuel Horsebetting Concession (see previous reports), the Hellenic Republic Asset Development Fund (HRADF) has confirmed receipt of two binding bids. Consortium “Intralot (SPV No.1) Ltd” and “Intralot (SPV No.2) Ltd” will go up against OPAP Investment Ltd for the exclusive right to organise and conduct mutuel …
The Council of Europe’s Convention on the Manipulation of Sports Competitions, which has been two years in the making, was widely accepted as a positive step towards fighting match fixing and other sports related manipulation, this week. The Convention, presented in Switzerland at a European Sports Minister’s meeting, was prepared by the European Commission, European …
The historically contentious horserace betting levy were unanimously agreed by the UK Horserace Betting Levy Board (HBLB), this week. Recommendations from the Bookmakers’ Committee for the terms of the 54th Levy Scheme over the period April 1, 2015 to March 31, 2016, estimate a yield of GBP 75.3 million which includes Betfair’s estimated GBP 7.8 …
Independent online gambling regulatory adviser and testing agency eCOGRA, an organisation accredited by twelve different European regulatory jurisdictions, has announced the latest updates to its self-regulatory requirements. The changes have been made as part of a programme that routinely reviews and renews the company’s eGAP Requirements to ensure they are in line with international best …
According to Olswang International legal firm, the Gibraltar Betting and Gaming Commission (GBGC) will have its legal challenge against the soon to be imposed UK Place of Consumption tax heard by the British High Court on Tuesday 23 and Wednesday 24 September 2014. At this hearing the GBGA will argue that the place of consumption …
Live dealer gaming supplier Evolution Gaming will provide a full set of live games to the recently launched Royal Panda Casino brand. Evolution’s full generic offer is available via a Live Casino tab on Royal Panda’s landing page. Games include Live Roulette, Blackjack, Baccarat and Casino Hold’em plus VIP tables, Slingshot Auto Roulette and multi-camera …
European-facing online casino EnergyCasino will augment its Greentube portfolio with online and mobile content from Microgaming, Net Entertainment and Server Based Solutions before the end of 2014. The operator has its eye on expansion beyond its core Central European markets as parent company Probe Investments was recently granted three new licences by the Malta Lotteries …