Kara Scott is the latest professional poker player to part ways with a sponsor after her five-year affiliation with partypoker ends with 2014 drawing to a close.
Kara Scott is back on the market.
Nope, Kara Scott remains happily married; but she has signed on the dotted line of a set of divorce papers that ends a five-year relationship with partypoker. There was a time when this news would have made waves; today it barely ripples – and it goes to show the recent trend of burning professional sponsorship contracts can tinge the fingers of anyone.
In a recent interview with the PR mastermind, Warren Lush, I asked him which sponsored players had been worth their weight in gold during his time in the biz?
“I think Kara Scott is a fantastic ambassador for poker. She is an excellent TV presenter, and great with customers. We use her as a face on the mobile app, and we have enjoyed an excellent relationship for years now.” Lush told me.
She ticks every single box; proving the decision to allow people to leave – or not trying harder to get them to stay – says more of what online poker rooms are beginning to understand about the value a sponsored pro has to the company doing the hiring, than the actual ability of the person hired.
The announcement was made on Kara Scott’s Cardrunners blog.
“PartyPoker has gone through many changes and unfortunately as their focus shifted, there were fewer and fewer TV projects. As those shows disappeared, so did one of my favorite parts of the job and now my association with Party is ending. However, I’m not going anywhere. I still love playing poker and have made a lot of great friends in the industry.”
To be fair to bwin.party they did say that moving forward their rest of the world focus would be on casino products, and a concentrated effort on poker would only be made in the U.S. Scott is a globally recognized face, and spends more time on airplanes than Ted Striker, but her European base, and work within the European tour stops, doesn’t push her nicely into a New Jersey niche.
Scott follows ‘Mad’ Marvin Rettenmaier out of the door marked ‘exit’, and it will be interesting to see what happens to both Jamie Kerstetter and Scott Baumstein once their contracts come up for renewal. Ken Daneyko did buck the trend by joining the team at partypoker, but he is a former sports star, thus fitting the model of sponsored pro that seems to more appropriate in modern times.
With ties to partypoker now snipped, Scott can spend more time concentrating on her family, and she will continue to work with the ESPN and World Series of Poker (WSOP) when the summer comes rolling into her life. During her time with partypoker Scott played a pivotal role in turning TV productions of The Premier League and the Big Game into some of the greatest poker shows ever televised.
December 29, 2014
December 18, 2014
Czech Republic gambling operators brace for tax hikes
Gambling operators in the Czech Republic could see their tax bills nearly double by 2016 if Finance Minister Andrej Babis (pictured) gets his way. Babis is set to present a new gambling tax proposal on Friday and a Czech newspaper reported that the plan includes rate hikes that would boost the government’s annual tax haul from CZK 8b (US $359m) to CZK 14b ($629m).
The newspaper claimed the current 20% tax on gross gaming revenue would be raised to between 30% and 40%, with fixed-odds sports betting coming in somewhere at the low end of that scale and slot machines at the high end. That’s on top of the 19% corporate tax that licensed gambling companies are required to ante up. The newspaper didn’t cite its sources for the figures and Babis declined to comment when queried by Reuters.
The Czech government is in the process of overhauling its gambling laws to allow online casino and lottery products in addition to sports betting. The legislation, which the government hopes to approve early in the new year, would also open the market up to international operators, although how many would find those tax rates appealing remains to be seen. The Czech Republic was one of several nations whose online gambling regimes were scolded by the European Commission last November as too restrictive.
The legislation is also intended to rein in the number of gaming machines currently entertaining gamblers in pubs, bars and other small-scale venues. There are currently 7.5 gaming machines for every 1,000 Czechs, twice the number in Slovakia and 25x the number in Austria.
On Monday, Czech national anti-drug coordinator Jindrich Voboril revealed that the government had approved a new national strategy that lumps gambling in with alcohol and drugs as targets for further restriction. The Ministry of Health has been tasked with preparing a plan of action by the end of March, which will remain in place until March 2019, after which the results will be evaluated and a new plan formulated.
The newspaper claimed the current 20% tax on gross gaming revenue would be raised to between 30% and 40%, with fixed-odds sports betting coming in somewhere at the low end of that scale and slot machines at the high end. That’s on top of the 19% corporate tax that licensed gambling companies are required to ante up. The newspaper didn’t cite its sources for the figures and Babis declined to comment when queried by Reuters.
The Czech government is in the process of overhauling its gambling laws to allow online casino and lottery products in addition to sports betting. The legislation, which the government hopes to approve early in the new year, would also open the market up to international operators, although how many would find those tax rates appealing remains to be seen. The Czech Republic was one of several nations whose online gambling regimes were scolded by the European Commission last November as too restrictive.
The legislation is also intended to rein in the number of gaming machines currently entertaining gamblers in pubs, bars and other small-scale venues. There are currently 7.5 gaming machines for every 1,000 Czechs, twice the number in Slovakia and 25x the number in Austria.
On Monday, Czech national anti-drug coordinator Jindrich Voboril revealed that the government had approved a new national strategy that lumps gambling in with alcohol and drugs as targets for further restriction. The Ministry of Health has been tasked with preparing a plan of action by the end of March, which will remain in place until March 2019, after which the results will be evaluated and a new plan formulated.
December 17, 2014
Pennsylvania-based imam Fethullah Gülen asked for a $50 million bribe from Fenerbahçe chairman Yıldırım
Chairman of the Galatasaray Football Club, Duygun Yarsuvat has claimed that Pennsylvania-based imam Fethullah Gülen asked for a $50 million bribe from the former chairman of Fenerbahçe Football Club, Aziz Yıldırım, and after he refused, began the match-fixing which led Yıldırım to prison.
"Fethullah [Gülen] asked for $50 million from Aziz Yıldırım. Neither Aziz Yıldırım nor Fenerbahçe paid the money. A well-known process started after all of this. … This process has not ended yet," Galatasaray Chairman DoygunYarsuvat told Turkish daily Milliyet on Wednesday.
In the summer of 2011 a comprehensive investigation was launched into allegations of match fixing and organized crime networks in Turkish soccer circles. More than 60 people, including Fenerbahçe club chairman, Yıldırım, were taken into custody. On July 14, 2011, Hüseyin Gülerce, a senior journalist associated with the Gülen Movement, wrote about the match-fixing arrests in Today's Zaman, the English language version of Zaman daily. In an article titled, "Second breach in Ergenekon's fortress," Gülerce described the match-fixing investigation as part of a concerted attempt to destroy the same people who had been targeted in the Ergenekon investigation. "As they fail to understand that their resistance is futile, they will be eliminated faster," Gülerce predicted.
On July 2, 2012, Turkey's now defunct Specially Authorized Courts convicted and sentenced Yıldırım to six years and three months in prison for match fixing. On June 7, 2014, the newly assigned prosecutor of the match-fixing scandal demanded a retrial for Yıldırım from the 13th High Criminal Court, which is the newly assigned court for the match-fixing scandal. Immediately after his release from jail on July 2, 2013, he spoke to Hürriyet columnist Ertuğrul Özkök and said that the Gülen Movement was responsible for all of these matters.
Furthermore, on January 20, 2014, Yıldırım claimed to The Wall Street Journal that the evidence of the match-fixing case was fake and unstable and that the Gülen Movement was behind it. "The match-fixing case was a political trial with a political verdict. I don't respect the decision of this judiciary," he said. He had been the head of Fenerbahçe since 1998 and won five Turkish league titles.
"Prime Minister Recep Tayyip Erdoğan, in his statement on December 17, said that a parallel structure exists. This parallel structure is run by Gülen and his community. All those prosecutors, judges and police officers were removed from office because they are Gülenists. … So, it means that all those operations in the past, including the one against us, were the work of the Gülen Movement. I cannot be sure now whether the Appeals Court judges [who upheld my sentence] are in the service of the parallel structure or the Republic of Turkey. The justice minister should make a statement to shed light on the situation," Yıldırım said.
On June 7, 2014, the newly assigned prosecutor of the match-fixing scandal demanded a retrial of the case, which was accepted by the court and will lead to all those convicted, including Yıldırım, to have a retrial.
"Fethullah [Gülen] asked for $50 million from Aziz Yıldırım. Neither Aziz Yıldırım nor Fenerbahçe paid the money. A well-known process started after all of this. … This process has not ended yet," Galatasaray Chairman DoygunYarsuvat told Turkish daily Milliyet on Wednesday.
In the summer of 2011 a comprehensive investigation was launched into allegations of match fixing and organized crime networks in Turkish soccer circles. More than 60 people, including Fenerbahçe club chairman, Yıldırım, were taken into custody. On July 14, 2011, Hüseyin Gülerce, a senior journalist associated with the Gülen Movement, wrote about the match-fixing arrests in Today's Zaman, the English language version of Zaman daily. In an article titled, "Second breach in Ergenekon's fortress," Gülerce described the match-fixing investigation as part of a concerted attempt to destroy the same people who had been targeted in the Ergenekon investigation. "As they fail to understand that their resistance is futile, they will be eliminated faster," Gülerce predicted.
On July 2, 2012, Turkey's now defunct Specially Authorized Courts convicted and sentenced Yıldırım to six years and three months in prison for match fixing. On June 7, 2014, the newly assigned prosecutor of the match-fixing scandal demanded a retrial for Yıldırım from the 13th High Criminal Court, which is the newly assigned court for the match-fixing scandal. Immediately after his release from jail on July 2, 2013, he spoke to Hürriyet columnist Ertuğrul Özkök and said that the Gülen Movement was responsible for all of these matters.
Furthermore, on January 20, 2014, Yıldırım claimed to The Wall Street Journal that the evidence of the match-fixing case was fake and unstable and that the Gülen Movement was behind it. "The match-fixing case was a political trial with a political verdict. I don't respect the decision of this judiciary," he said. He had been the head of Fenerbahçe since 1998 and won five Turkish league titles.
"Prime Minister Recep Tayyip Erdoğan, in his statement on December 17, said that a parallel structure exists. This parallel structure is run by Gülen and his community. All those prosecutors, judges and police officers were removed from office because they are Gülenists. … So, it means that all those operations in the past, including the one against us, were the work of the Gülen Movement. I cannot be sure now whether the Appeals Court judges [who upheld my sentence] are in the service of the parallel structure or the Republic of Turkey. The justice minister should make a statement to shed light on the situation," Yıldırım said.
On June 7, 2014, the newly assigned prosecutor of the match-fixing scandal demanded a retrial of the case, which was accepted by the court and will lead to all those convicted, including Yıldırım, to have a retrial.
Herrera denies match-fixing claim
Manchester United midfielder Ander Herrera has denied being involved in a match-fixing scandal surrounding a Levante-Zaragoza game in 2011.
Anti-Corruption prosecutor Alejandro Luzon is claiming that €965,000 was paid to Levante players so they would lose the game, which the Aragones club won 2-1 and thus claimed the three points needed to avoid relegation.
However, Herrera, who is one of 41 players, Coaches and club officials named in the investigation, issued a statement via his Facebook account denying he had anything to do with rigging the game and helping his former club retain its top-flight status.
“In an on-going legal process involving Real Zaragoza (Spain), the club I was honoured to play with from 12 until 22 years of age, there are 41 people mentioned, of which I am one.
“I have never had and will never have anything to do with manipulating match results. If I am ever called to testify in any judicial hearing, I’ll be happy to attend, as my conscience is totally clear.
“I love football and I believe in fair play, both on and off the pitch,” it read.
Anti-Corruption prosecutor Alejandro Luzon is claiming that €965,000 was paid to Levante players so they would lose the game, which the Aragones club won 2-1 and thus claimed the three points needed to avoid relegation.
However, Herrera, who is one of 41 players, Coaches and club officials named in the investigation, issued a statement via his Facebook account denying he had anything to do with rigging the game and helping his former club retain its top-flight status.
“In an on-going legal process involving Real Zaragoza (Spain), the club I was honoured to play with from 12 until 22 years of age, there are 41 people mentioned, of which I am one.
“I have never had and will never have anything to do with manipulating match results. If I am ever called to testify in any judicial hearing, I’ll be happy to attend, as my conscience is totally clear.
“I love football and I believe in fair play, both on and off the pitch,” it read.
December 12, 2014
Gambler wins case against Novomatic
Novomatic have lost a court case involving a gambler who says he was not responsible for the huge losses he accumulated playing slot machines in Vienna.
A local court in Vienna ruled that the un-named gambler who lost a total of €800,000 over a 4 year period from 2006 to 2010 should have €400,000 of that amount paid back by the slot manufacturing giant.
The gamblers lawyers had the gambler take a psychiatric evaluation which supported his case that he was not responsible for the losses, the court agreed that his gambling ”contracts” for the period should be annulled.
“Unlike in casinos, it’s not possible in Vienna to ban somebody from a slot machine room. And you find these machines in many places, including petrol stations,” the gambler’s lawyer Christoph Naske told AFP.
Novomatic which operates the slot machines has appealed the ruling.
A local court in Vienna ruled that the un-named gambler who lost a total of €800,000 over a 4 year period from 2006 to 2010 should have €400,000 of that amount paid back by the slot manufacturing giant.
The gamblers lawyers had the gambler take a psychiatric evaluation which supported his case that he was not responsible for the losses, the court agreed that his gambling ”contracts” for the period should be annulled.
“Unlike in casinos, it’s not possible in Vienna to ban somebody from a slot machine room. And you find these machines in many places, including petrol stations,” the gambler’s lawyer Christoph Naske told AFP.
Novomatic which operates the slot machines has appealed the ruling.
Skrill adds 1-Tap to SBOBet verticals
Online payment processor Skrill, today announces that it has integrated its 1-Tap payment system with SBOBET desktop and mobile verticals.
Skrill 1-Tap connects with Skrill’s Digital Wallet to offer quick and easy mobile payments to merchants and customers. By using Skrill 1-Tap, SBOBet customers can make payments in ‘one tap’ on any device, rather than having to repeatedly enter their login details or sensitive credit card information. Customers’ card details are securely saved after the initial payment made via Skrill, so the one tap functionality is enabled next time they log on to SBOBET.
Paul Barclay, VP of Gambling and FX, Skrill commented:“We developed Skrill 1-Tap following in-depth consumer research, so we are delighted to see this innovative solution quickly becoming the preferred option for mobile and desktop payments in the gaming sector. SBOBet customers can now make seamless payments in a secure way wherever and whenever they wish.
“The future is mobile and Skrill’s focus on innovation means we are able to meet customer’s changing needs, delivering an enhanced, more convenient experience and a product that suits them.”
Bill Mummery, Executive Director, SBOBet added: “Adoption of Skrill 1-Tap means a significant reduction of ‘friction’ for our customers when placing their bets. This is particularly important for in-play betting, which now forms a major part of our gaming activity. We have been particularly impressed by Skrill’s innovative technology-led approach to digital payments.”
Skrill 1-Tap connects with Skrill’s Digital Wallet to offer quick and easy mobile payments to merchants and customers. By using Skrill 1-Tap, SBOBet customers can make payments in ‘one tap’ on any device, rather than having to repeatedly enter their login details or sensitive credit card information. Customers’ card details are securely saved after the initial payment made via Skrill, so the one tap functionality is enabled next time they log on to SBOBET.
Paul Barclay, VP of Gambling and FX, Skrill commented:“We developed Skrill 1-Tap following in-depth consumer research, so we are delighted to see this innovative solution quickly becoming the preferred option for mobile and desktop payments in the gaming sector. SBOBet customers can now make seamless payments in a secure way wherever and whenever they wish.
“The future is mobile and Skrill’s focus on innovation means we are able to meet customer’s changing needs, delivering an enhanced, more convenient experience and a product that suits them.”
Bill Mummery, Executive Director, SBOBet added: “Adoption of Skrill 1-Tap means a significant reduction of ‘friction’ for our customers when placing their bets. This is particularly important for in-play betting, which now forms a major part of our gaming activity. We have been particularly impressed by Skrill’s innovative technology-led approach to digital payments.”
December 11, 2014
ICSS and Sorbonne release match-fixing report
A 700-page report into the manipulation of sports results has been released and is available for download.
The report is the result of a two-year long cooperation between the Sorbonne University in Paris, France and the Qatar-based International Centre for Sport Security (ICSS), during which a total of more than 80 researchers and experts have been contributing to the report entitled 'Fighting against the Manipulation of Sports Competitions'.
According to the press release, the joint project initially set out to map the different forms of sports corruption and to provide a set of recommendations that sports’ stakeholders could use in their work against match-fixing. Match-fixing is an area whose recent developments are worrying, says the press release, with 300 to 700 sports events suspected of being fixed each year since 2010.
The report estimates that the yearly amount of bets is between 200 and 500 billion euro and that up to 80% of this amount is placed on illegal bets. The report also assesses that organised crime launder up to 140 billion dollars each year through sporting bets.
Although states are beginning to understand the scale of this threat, their tools to fight it vary a lot from nation to nation. But according to the report, it should be possible “to establish a classification of the countries according to their policy on sport integrity”, and “to measure their degree of implication and their responsiveness in the face of this scourge”.
The three most important recommendations to be found in the report are, according to Laurent Vidal, Director of the Sorbonne-ICSS Research Programme on Ethics and Sport Security:
The report is the result of a two-year long cooperation between the Sorbonne University in Paris, France and the Qatar-based International Centre for Sport Security (ICSS), during which a total of more than 80 researchers and experts have been contributing to the report entitled 'Fighting against the Manipulation of Sports Competitions'.
According to the press release, the joint project initially set out to map the different forms of sports corruption and to provide a set of recommendations that sports’ stakeholders could use in their work against match-fixing. Match-fixing is an area whose recent developments are worrying, says the press release, with 300 to 700 sports events suspected of being fixed each year since 2010.
The report estimates that the yearly amount of bets is between 200 and 500 billion euro and that up to 80% of this amount is placed on illegal bets. The report also assesses that organised crime launder up to 140 billion dollars each year through sporting bets.
Although states are beginning to understand the scale of this threat, their tools to fight it vary a lot from nation to nation. But according to the report, it should be possible “to establish a classification of the countries according to their policy on sport integrity”, and “to measure their degree of implication and their responsiveness in the face of this scourge”.
The three most important recommendations to be found in the report are, according to Laurent Vidal, Director of the Sorbonne-ICSS Research Programme on Ethics and Sport Security:
- The urgent need for an effective cooperation between all stakeholders without ulterior motives
- The introduction of a subtle balance between the protection of public order, sport autonomy and the functioning of the markets of sports bets and sports spectacles
- An uncompromising fight against organised crime and illegal bets
December 04, 2014
CVC takes control of £800m Sky Bet
CVC Capital Partners is to spend a potential £720m to buy a controlling stake in online bookmaker Sky Bet. Under the agreement, Sky will receive £600m on completion of the deal, and further deferred and contingent payments of up to £120m, while Sky will retain an equity stake of 20% in Sky Bet, with which it has entered a long-term brand licence agreement.
The broadcaster said that the sale ‘crystallises value’ for Sky that has been created in Sky Bet, while the price represents a multiple of approximately 15x EBITDA for the 12 months ended 30 June 2014, reflecting Sky Bet’s record of strong growth and high cash generation.
Sky chief executive Jeremy Darroch said: “In the last ten years, we have successfully grown Sky Bet from a start-up to one of the leading online betting and gaming companies in the UK. This transaction will allow us to focus further on the substantial growth opportunities in our core international pay TV business while realising significant value for our shareholders.”
The acquisition includes Sky Bet, its sports betting business; Sky Vegas & Sky Casino, its casino gaming businesses, Sky Poker and Sky Bingo, and Oddschecker, the UK’s leading odds comparison site. The deal is subject to regulatory clearances in the UK and Ireland and is expected to be completed in the first three months of 2015.
The Sky Bet management team, under the leadership of managing director Richard Flint, will remain with the business under the new ownership structure with all Sky Bet’s employees moving across into the new entity. The business will remain headquartered in Leeds.
Flint said: “Over the last 7 years, Sky Bet has grown rapidly to become one of the UK’s leading online betting and gaming operators, achieved through the hard work of our employees and the valuable support of Sky and Sky Sports. Looking forward, we have exciting growth opportunities, both in the UK and internationally. Today’s transaction brings in CVC as a new majority investor who will support us in the exciting next phase of our development, and retains the benefits of Sky’s and Sky Sports’ continuing involvement. CVC brings a broad international network, has an excellent track record of building businesses, as well as valuable experience in the betting & gaming sector, through previous investments in companies such as William Hill and IG Group.”
Rob Lucas, managing partner of CVC, said: “We are delighted to have agreed to acquire a controlling stake in Sky Bet. Richard Flint and his team have built a fantastic business, which is a leader in the fast growing mobile and online, betting and gaming markets. The partnership between CVC and Sky will provide a strong platform to support SkyBet’s ongoing success at this exciting point in its development.”
The broadcaster said that the sale ‘crystallises value’ for Sky that has been created in Sky Bet, while the price represents a multiple of approximately 15x EBITDA for the 12 months ended 30 June 2014, reflecting Sky Bet’s record of strong growth and high cash generation.
Sky chief executive Jeremy Darroch said: “In the last ten years, we have successfully grown Sky Bet from a start-up to one of the leading online betting and gaming companies in the UK. This transaction will allow us to focus further on the substantial growth opportunities in our core international pay TV business while realising significant value for our shareholders.”
The acquisition includes Sky Bet, its sports betting business; Sky Vegas & Sky Casino, its casino gaming businesses, Sky Poker and Sky Bingo, and Oddschecker, the UK’s leading odds comparison site. The deal is subject to regulatory clearances in the UK and Ireland and is expected to be completed in the first three months of 2015.
The Sky Bet management team, under the leadership of managing director Richard Flint, will remain with the business under the new ownership structure with all Sky Bet’s employees moving across into the new entity. The business will remain headquartered in Leeds.
Flint said: “Over the last 7 years, Sky Bet has grown rapidly to become one of the UK’s leading online betting and gaming operators, achieved through the hard work of our employees and the valuable support of Sky and Sky Sports. Looking forward, we have exciting growth opportunities, both in the UK and internationally. Today’s transaction brings in CVC as a new majority investor who will support us in the exciting next phase of our development, and retains the benefits of Sky’s and Sky Sports’ continuing involvement. CVC brings a broad international network, has an excellent track record of building businesses, as well as valuable experience in the betting & gaming sector, through previous investments in companies such as William Hill and IG Group.”
Rob Lucas, managing partner of CVC, said: “We are delighted to have agreed to acquire a controlling stake in Sky Bet. Richard Flint and his team have built a fantastic business, which is a leader in the fast growing mobile and online, betting and gaming markets. The partnership between CVC and Sky will provide a strong platform to support SkyBet’s ongoing success at this exciting point in its development.”
Betradar enters Nigeria with 1960bet
Betradar, supplier of sports and betting related data has announced the launch of its Live Channel products with Nigerian bookmaker 1960Bet. Betrader will roll out its Live Channel Retail across 5,000 stores by using a local satellite distribution provider and will implement the Live Channel Online into its sports betting website 1960bet.ng.
In addition, 1960Bet has also signed up for Betradar’s Managed Trading Services, a new business concept that allows sports betting operators to externalise their labour intensive risk and liability management to Betradar’s proven industry expertise. Combined with the live streaming services Live Channel Retail and Live Channel Online, 1960Bet is strengthening its live betting offering significantly in retail outlets and on their website, to provide their clients with a new level of entertainment and bet stimulation.
1960Bet CEO, Dotun Ajegbile stated: “We at 1960Bet have had a strong and trusting relationship with Betradar since we launched in 2012, and the quality of their services have gone a long way in driving the growth of 1960Bet. We now look forward to taking advantage of the growing interest in live betting by rolling out the Betradar Live Channel in 5,000 of our 1960Bet shops and agents. Together with this,we have entrusted our day to day risk-management to the Betradar Managed Trading Service, and weare confident this is a great step forward in securing our future growth in the market.”
Sportradar’s Sales Director for the African region Gregory Parsons had this to add: “We are very pleased to see the Betradar Live Channel make its first entry into the Nigerian market with 1960Bet. We expect live betting to begin to gather significantly more traction in Africa in the very near future,particularly in Nigeria. 1960Bet will be looking to capitalize on this great opportunity by leveraging localsatellite distribution technology to make rapid and significant in-roads into the market. Through the
Betradar Managed Trading Services, we will now offer even more of a comprehensive range of meaningful, and growth-driving, services to 1960Bet and together we are very excited about what the future holds.”
In addition, 1960Bet has also signed up for Betradar’s Managed Trading Services, a new business concept that allows sports betting operators to externalise their labour intensive risk and liability management to Betradar’s proven industry expertise. Combined with the live streaming services Live Channel Retail and Live Channel Online, 1960Bet is strengthening its live betting offering significantly in retail outlets and on their website, to provide their clients with a new level of entertainment and bet stimulation.
1960Bet CEO, Dotun Ajegbile stated: “We at 1960Bet have had a strong and trusting relationship with Betradar since we launched in 2012, and the quality of their services have gone a long way in driving the growth of 1960Bet. We now look forward to taking advantage of the growing interest in live betting by rolling out the Betradar Live Channel in 5,000 of our 1960Bet shops and agents. Together with this,we have entrusted our day to day risk-management to the Betradar Managed Trading Service, and weare confident this is a great step forward in securing our future growth in the market.”
Sportradar’s Sales Director for the African region Gregory Parsons had this to add: “We are very pleased to see the Betradar Live Channel make its first entry into the Nigerian market with 1960Bet. We expect live betting to begin to gather significantly more traction in Africa in the very near future,particularly in Nigeria. 1960Bet will be looking to capitalize on this great opportunity by leveraging localsatellite distribution technology to make rapid and significant in-roads into the market. Through the
Betradar Managed Trading Services, we will now offer even more of a comprehensive range of meaningful, and growth-driving, services to 1960Bet and together we are very excited about what the future holds.”
December 03, 2014
Polish government threaten online gamblers
The Polish government has issued a warning to online gamblers in the country that they could be prosecuted should they play online using offshore unregulated online operators. The announcement by the government is the first ever move to prosecute players instead of operators for unlicensed online gambling.
A statement on the website of the Ministry of Finance’s website says it has proof of more than 24,000 gamblers playing online within the country using unlicensed online gambling sites from outside the country. It also says they have started criminal investigations against some 1,100 players.
Polish gambling law states that any online operator wishing to offer services in the country must have their servers based in the country and have to carry the domain ending .pl.
It also states that all money transactions would have to run exclusively through Polish banks, with the tax rate was set at 12% for operators.
There have been many objections to the Polish regulations and the government has said it will consider in the future that operators only need to have a local branch not all the servers based in the country.
A statement on the website of the Ministry of Finance’s website says it has proof of more than 24,000 gamblers playing online within the country using unlicensed online gambling sites from outside the country. It also says they have started criminal investigations against some 1,100 players.
Polish gambling law states that any online operator wishing to offer services in the country must have their servers based in the country and have to carry the domain ending .pl.
It also states that all money transactions would have to run exclusively through Polish banks, with the tax rate was set at 12% for operators.
There have been many objections to the Polish regulations and the government has said it will consider in the future that operators only need to have a local branch not all the servers based in the country.
Richard Glynn steps down as Ladbrokes chief
Ladbrokes today announced the departure of their Chief Executive Richard Glynn after almost a year of the axe hovering over the boss of the second largest UK bookmaker since investors threatened him with removal if results and business did not improve.
Mr Glynn joined the company in 2010 when he was poached from Sporting Index, however over the last two years with the rise of William Hill their main competitor in the online business Ladbrokes started making noises earlier this year with announcing that the football World Cup would decide the Chief Execs fate. Although results for the company were good for the summer overall it was not enough to keep Glynn in his role.
Peter Erskine, chairman of Ladbrokes said: “On behalf of the board, I would like to thank Richard for his leadership of the company and his considerable achievements in delivering a new digital future for Ladbrokes. He has devoted enormous energy and dedication to securing the transformation of the company and the benefits of that work are beginning to be seen.”
“I have always said speculation comes with the turf and my focus is on what needs to be delivered,” said Mr Glynn in October when asked whether he had done enough to satisfy investors.
However, this morning Mr Glynn said that it was the “right time for Ladbrokes to identify my successor”.
It is understood that Mr Glynn has a bonus related pay structure worth £12 million when he leaves which he stated will be once the company has found a suitable replacement whether that be internal or external.
Mr Glynn joined the company in 2010 when he was poached from Sporting Index, however over the last two years with the rise of William Hill their main competitor in the online business Ladbrokes started making noises earlier this year with announcing that the football World Cup would decide the Chief Execs fate. Although results for the company were good for the summer overall it was not enough to keep Glynn in his role.
Peter Erskine, chairman of Ladbrokes said: “On behalf of the board, I would like to thank Richard for his leadership of the company and his considerable achievements in delivering a new digital future for Ladbrokes. He has devoted enormous energy and dedication to securing the transformation of the company and the benefits of that work are beginning to be seen.”
“I have always said speculation comes with the turf and my focus is on what needs to be delivered,” said Mr Glynn in October when asked whether he had done enough to satisfy investors.
However, this morning Mr Glynn said that it was the “right time for Ladbrokes to identify my successor”.
It is understood that Mr Glynn has a bonus related pay structure worth £12 million when he leaves which he stated will be once the company has found a suitable replacement whether that be internal or external.
December 02, 2014
The King Of Online Gambling (Is 34)
Earlier this year David Baazov walked into the Manhattan offices of the Blackstone Group, the world’s biggest private equity firm, with an outrageous offer. At 33 Baazov was the little-known chief of Amaya, an obscure Montreal company with a loose handful of assets in the gambling industry. But he had big plans. With the backing of Blackstone’s credit division he wanted to stage the $4.9 billion purchase of PokerStars, the world’s biggest online poker company. Operating like he held all the cards, Baazov proposed what would seem to be a crackpot scheme. Despite Amaya’s stock trading just under $7 (all prices are in U. S. dollars), he wanted Blackstone and other investors to buy shares at nearly $18 apiece and securities convertible into Amaya stock at about $21.
If a CEO in the history of capitalism had ever managed to sell equity for such a sky-high premium, the top minds at Blackstone’s credit group had never heard of it. They abruptly ended the meeting and threw Baazov out on the street. “We left the building, and my guys were having heart palpitations,” says Baazov. “The whole time I am still negotiating with the sellers and saying, ‘Hey, I am money good.’ ”
In the months that followed, Baazov corralled the deeply secretive owners of PokerStars, reluctant bankers and big-shot Wall Street investors–all while driving a hard bargain for himself and other Amaya shareholders. In August Baazov ended up buying PokerStars by selling approximately $1.7 billion of Amaya stock for about $18 and convertible preferred shares with a conversion price of about $21 per common share. Blackstone’s credit division, known on Wall Street as GSO, invested $1 billion, its biggest-ever financial commitment in a single deal, getting shares at essentially an effective price of some $15 apiece after Baazov threw in nearly free warrants for his most important financial backer.
With that one transaction Baazov is now the new king of online gambling, a near-billionaire player in a complex and high-stakes game, facing off against titans like Sheldon Adelson. The boldness of what Baazov has pulled off is stunning. Nobody–not even his own executives–thought Baazov could get Amaya, a publicly traded company with $150 million in revenues, to buy Rational Group, an Isle of Man powerhouse with $1.1 billion in revenues and a controversial history, in an all-cash deal that included Rational’s PokerStars and Full Tilt Poker.
But Baazov somehow pulled it off, and his stock recently changed hands for $33, returning more than 2,600% since he took Amaya public in 2010. Baazov’s 12.5% stake in the company is now worth $800 million. “It is an audacious deal that shocked the industry and shocked the people who watch the company,” says Robert Young, a financial analyst at Canaccord Genuity. “They went out and bought one of the crown jewels of online gaming for $4.9 billion, and their valuation was much less than $1 billion.”
Whether or not he ultimately succeeds is still an open question, but Baazov’s story is an untold saga of chutzpah, luck and pure perseverance. “The game of poker itself is like negotiating a transaction. This was a really, really big-stakes game.” And it’s only just begun.
For a guy who won about as big as you can win in the deal game, Baazov says he’s not much of a poker player. The son of a construction worker, he was born in Israel, and his Georgian parents moved him to Montreal at the age of 1. It was a tight-knit Modern Orthodox Jewish family with six children that tolerated Baazov’s strong rebellious streak–for a while. A math whiz, Baazov was bored at school and at 16 told his deeply conservative parents that he was done with it. They responded as well as you’d expect. They kicked him out of the house.
Filled with pride and desperately wanting to start something, Baazov did not back down. For a while he stayed with a friend, but soon found himself sleeping on park benches and in Montreal’s ubiquitous outdoor public hockey arenas, camping out in the penalty box to block the harsh winds. After more than two weeks on the streets in cold temperatures, Baazov used his brother’s driver’s license to rent an apartment. In time he made up with his parents and went on to make some early cash by selling packages of discount coupons for dry cleaning and clothing stores through the mail. Baazov eventually started a computer-reselling outfit in Montreal, renting a tiny office that maybe two people visited in the first five months. “Your conscience runs with your thoughts,” says Baazov. “You are thinking, what am I doing?”
His big break came when he landed a contract to sell computers to Montreal’s public library, expanding his operation into a $20 million computer reseller over the next five years. “He could take apart a computer and put it together with his eyes closed,” says Morden Lazarus, a Montreal lawyer who has known Baazov for years. “Like every Duddy Kravitz in this world, he wanted to be successful and for his family to be proud of him.” At 25, and fearing the direct computer sales model, he abruptly sold the company after losing a bid to Compaq, one of the companies he distributed for, to supply computers to the City of Montreal.
Burned by hardware, Baazov decided in 2005 to get into software, though he wasn’t much more focused than that. He brought in some developers and to generate revenue they built an electronic poker table that could be sold to casinos and cruise ships, essentially allowing people to play poker without a human dealer. He dubbed the company Amaya, a play on Avaya , the computer networking company where the sister of his chief financial officer worked.
With about $6 million in revenue, Baazov took Amaya public for just under $1 a share in 2010 on the Toronto Venture Exchange, Canada’s penny stock market, raising nearly $5 million. In preparing for his IPO, Baazov, then 29, secured a dinner meeting with former NATO commander and presidential candidate General Wesley Clark, who was a proponent of gambling-generated tax revenue, particularly in small countries. He returned from the Washington dinner and told his staff that General Clark would join the board. “Did he say he was joining?” his CFO asked him. No, but Baazov was certain he would. “He is the ultimate optimist,” says Marlon Goldstein, Amaya’s general counsel. “His glass is always half full even when it’s fu**ing crumbling.” General Clark signed up and remains on Amaya’s board.
Given this kind of bet-the-house bullishness, it was perhaps inevitable that Baazov would set his sights on the Wild West of online gambling. Because of its close proximity to the Kahnawake Mohawk Territory, which asserts sovereignty and has long hosted online gambling servers for offshore companies, Montreal has b een an online gambling hub. Running a tiny, publicly traded company, Baazov bought cheap and out-of-favor assets at steep discounts, like Chartwell Technology and Cryptologic, which provided casino-game software to online operators. Baazov also snapped up Ongame, a maker of online poker software. Critics couldn’t figure out what he was up to, but it was simple: He was building a story and a stock.
In 2012 he purchased Cadillac Jack, a slot machine maker, for $177 million. Now Baazov had cash flow, some $36 million a year. He also had a relationship with Blackstone’s GSO credit division, the largest financial backer of the Cadillac Jack purchase, raising $110 million in debt for the deal. Amaya’s stock soared from $3.50 in November 2012 to more than $7 by the end of 2013.
After buying Cadillac Jack, Baazov told his CFO, Daniel Sebag, that he had his eye on much bigger prey. He wanted to buy Rational Group, the private, secretive owner of PokerStars. “Please do not put even one minute of your time in that,” Sebag told him. It seemed impossible. Rational was not only many times larger than Amaya, it was known to be insanely profitable. Meanwhile, Amaya was losing money.
But Baazov smelled opportunity. PokerStars had been essentially founded and run by Isai Scheinberg, a Canadian with Israeli roots, and his son, Mark, who legally owned most of the company. Despite PokerStars’ financial prowess, the owners had run into legal problems for continuing to offer online poker in the U.S. after Congress passed the 2006 Unlawful Internet Gambling Enforcement Act.
If a CEO in the history of capitalism had ever managed to sell equity for such a sky-high premium, the top minds at Blackstone’s credit group had never heard of it. They abruptly ended the meeting and threw Baazov out on the street. “We left the building, and my guys were having heart palpitations,” says Baazov. “The whole time I am still negotiating with the sellers and saying, ‘Hey, I am money good.’ ”
With that one transaction Baazov is now the new king of online gambling, a near-billionaire player in a complex and high-stakes game, facing off against titans like Sheldon Adelson. The boldness of what Baazov has pulled off is stunning. Nobody–not even his own executives–thought Baazov could get Amaya, a publicly traded company with $150 million in revenues, to buy Rational Group, an Isle of Man powerhouse with $1.1 billion in revenues and a controversial history, in an all-cash deal that included Rational’s PokerStars and Full Tilt Poker.
But Baazov somehow pulled it off, and his stock recently changed hands for $33, returning more than 2,600% since he took Amaya public in 2010. Baazov’s 12.5% stake in the company is now worth $800 million. “It is an audacious deal that shocked the industry and shocked the people who watch the company,” says Robert Young, a financial analyst at Canaccord Genuity. “They went out and bought one of the crown jewels of online gaming for $4.9 billion, and their valuation was much less than $1 billion.”
Whether or not he ultimately succeeds is still an open question, but Baazov’s story is an untold saga of chutzpah, luck and pure perseverance. “The game of poker itself is like negotiating a transaction. This was a really, really big-stakes game.” And it’s only just begun.
For a guy who won about as big as you can win in the deal game, Baazov says he’s not much of a poker player. The son of a construction worker, he was born in Israel, and his Georgian parents moved him to Montreal at the age of 1. It was a tight-knit Modern Orthodox Jewish family with six children that tolerated Baazov’s strong rebellious streak–for a while. A math whiz, Baazov was bored at school and at 16 told his deeply conservative parents that he was done with it. They responded as well as you’d expect. They kicked him out of the house.
Filled with pride and desperately wanting to start something, Baazov did not back down. For a while he stayed with a friend, but soon found himself sleeping on park benches and in Montreal’s ubiquitous outdoor public hockey arenas, camping out in the penalty box to block the harsh winds. After more than two weeks on the streets in cold temperatures, Baazov used his brother’s driver’s license to rent an apartment. In time he made up with his parents and went on to make some early cash by selling packages of discount coupons for dry cleaning and clothing stores through the mail. Baazov eventually started a computer-reselling outfit in Montreal, renting a tiny office that maybe two people visited in the first five months. “Your conscience runs with your thoughts,” says Baazov. “You are thinking, what am I doing?”
His big break came when he landed a contract to sell computers to Montreal’s public library, expanding his operation into a $20 million computer reseller over the next five years. “He could take apart a computer and put it together with his eyes closed,” says Morden Lazarus, a Montreal lawyer who has known Baazov for years. “Like every Duddy Kravitz in this world, he wanted to be successful and for his family to be proud of him.” At 25, and fearing the direct computer sales model, he abruptly sold the company after losing a bid to Compaq, one of the companies he distributed for, to supply computers to the City of Montreal.
Burned by hardware, Baazov decided in 2005 to get into software, though he wasn’t much more focused than that. He brought in some developers and to generate revenue they built an electronic poker table that could be sold to casinos and cruise ships, essentially allowing people to play poker without a human dealer. He dubbed the company Amaya, a play on Avaya , the computer networking company where the sister of his chief financial officer worked.
With about $6 million in revenue, Baazov took Amaya public for just under $1 a share in 2010 on the Toronto Venture Exchange, Canada’s penny stock market, raising nearly $5 million. In preparing for his IPO, Baazov, then 29, secured a dinner meeting with former NATO commander and presidential candidate General Wesley Clark, who was a proponent of gambling-generated tax revenue, particularly in small countries. He returned from the Washington dinner and told his staff that General Clark would join the board. “Did he say he was joining?” his CFO asked him. No, but Baazov was certain he would. “He is the ultimate optimist,” says Marlon Goldstein, Amaya’s general counsel. “His glass is always half full even when it’s fu**ing crumbling.” General Clark signed up and remains on Amaya’s board.
Given this kind of bet-the-house bullishness, it was perhaps inevitable that Baazov would set his sights on the Wild West of online gambling. Because of its close proximity to the Kahnawake Mohawk Territory, which asserts sovereignty and has long hosted online gambling servers for offshore companies, Montreal has b een an online gambling hub. Running a tiny, publicly traded company, Baazov bought cheap and out-of-favor assets at steep discounts, like Chartwell Technology and Cryptologic, which provided casino-game software to online operators. Baazov also snapped up Ongame, a maker of online poker software. Critics couldn’t figure out what he was up to, but it was simple: He was building a story and a stock.
In 2012 he purchased Cadillac Jack, a slot machine maker, for $177 million. Now Baazov had cash flow, some $36 million a year. He also had a relationship with Blackstone’s GSO credit division, the largest financial backer of the Cadillac Jack purchase, raising $110 million in debt for the deal. Amaya’s stock soared from $3.50 in November 2012 to more than $7 by the end of 2013.
After buying Cadillac Jack, Baazov told his CFO, Daniel Sebag, that he had his eye on much bigger prey. He wanted to buy Rational Group, the private, secretive owner of PokerStars. “Please do not put even one minute of your time in that,” Sebag told him. It seemed impossible. Rational was not only many times larger than Amaya, it was known to be insanely profitable. Meanwhile, Amaya was losing money.
But Baazov smelled opportunity. PokerStars had been essentially founded and run by Isai Scheinberg, a Canadian with Israeli roots, and his son, Mark, who legally owned most of the company. Despite PokerStars’ financial prowess, the owners had run into legal problems for continuing to offer online poker in the U.S. after Congress passed the 2006 Unlawful Internet Gambling Enforcement Act.
December 01, 2014
Man scoops $14 million on slots and donates all to charity
As the festive season begins a wonderful story has come out of Las Vegas, a local resident who wishes to remain anonymous visited the Rampart Casino with a friend and won the progressive jackpot of $14 million and donated the full amount to charity.
According to the casino the man who is not a regular at the slots there took a friend who is not from Las Vegas to see the casino and within five minutes of playing on the Megabucks slot machines scooped the jackpot with just $20.
Now most people would think of buying a new house and cars along with those long holidays, but not this gentleman he decided to give the whole lot to charity along with paying for a new church for his parish as currently they use a school gym to hold services.
The man has asked the casino not to release his name when he picked up his cheque which will make life a little easier for many people this Christmas, could his name be Santa?
According to the casino the man who is not a regular at the slots there took a friend who is not from Las Vegas to see the casino and within five minutes of playing on the Megabucks slot machines scooped the jackpot with just $20.
Now most people would think of buying a new house and cars along with those long holidays, but not this gentleman he decided to give the whole lot to charity along with paying for a new church for his parish as currently they use a school gym to hold services.
The man has asked the casino not to release his name when he picked up his cheque which will make life a little easier for many people this Christmas, could his name be Santa?
William Hill terminates Dutch igaming services
Following the Netherlands Gaming Authority (NGA) recent clampdown on remote gaming operators targeting Dutch consumers. UK operators William Hill has terminated its gaming and marketing services form the region.
William Hill sent an email communication to marketing partners and affiliates asking them to withdraw all marketing inventory promoting William Hill products. The operator will no longer process wagers and players from Dutch IP’s.
The operator stated that it did not want to jeopardise its chances of gaining a future Dutch igaming license, it would therefore comply with the NGR’s request to stop igaming services.
NGR had warned numerous operators that it would be willing to reject future licence applications on the basis of continued unlicensed activity targeting Dutch consumers.
Last month the NGR had asked international operators to register their official interest on legally entering the Dutch igaming market.
William Hill sent an email communication to marketing partners and affiliates asking them to withdraw all marketing inventory promoting William Hill products. The operator will no longer process wagers and players from Dutch IP’s.
The operator stated that it did not want to jeopardise its chances of gaining a future Dutch igaming license, it would therefore comply with the NGR’s request to stop igaming services.
NGR had warned numerous operators that it would be willing to reject future licence applications on the basis of continued unlicensed activity targeting Dutch consumers.
Last month the NGR had asked international operators to register their official interest on legally entering the Dutch igaming market.
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