Facebook is venturing into the world of online gambling with the launch of its first application where punters can stake real money.
Starting on Tuesday, Facebook will offer users in the UK aged 18 and over the opportunity to play online bingo for cash prizes. Slot machine games will be added in the coming weeks.
“Gambling is very popular and well regulated in the UK . . . for millions of bingo users it’s already a social experience [so] it makes sense [for us] to offer that as well,” said Julien Codorniou, Facebook’s head of gaming for Europe, Middle East and Africa.
There has long been speculation among investors as to whether Facebook and other social networking sites would introduce gambling products to boost revenues. Zynga, Facebook’s largest gaming partner, is hoping to introduce real-money gambling versions of its poker, bingo and slot machine games in 2013.
Many markets outside the UK can pose considerable legal risks, however, as regulations vary considerably from country to country. In the US, where the majority of Facebook revenues are generated, the market for real-money social gaming is in effect closed. Regulators only recently began opening the door to certain kinds of online gambling, and only at a state level, presenting significant technical challenges for keeping operations within the law.
Facebook’s move in the UK is a significant development, according to Clive Hawkswood, chief executive of the Remote Gambling Association, a London-based online gambling association.
“Bingo is at the softer end of the gambling spectrum and online bingo often has chat forums alongside, so it’s an obvious match for Facebook,” he said. “A lot of people have said why haven’t they done it before because there’s a difficulty in monetising what they have – this is one way of bringing in revenues.”
Facebook will launch the Bingo Friendzy app in a joint venture with Gamesys, one of the UK’s largest online gambling operators, to target the social network’s large online audience.
“We are a distribution platform for Gamesys – they have the games and we bring the audience,” said Mr Codorniou.
He said Facebook was in discussions with other gambling companies about expanding its offerings which could include casino games such as blackjack and roulette, but he said “nothing concrete” had been agreed.
August 08, 2012
August 06, 2012
Macau Police raid Casinos
Macau police raided casinos and hotels in an operation with Chinese and Hong Kong authorities after a series of murders and attacks targeting guests, it has been reported.
Police questioned nearly 1,300 people and detained 149 of them for further investigation as part of an operation codenamed “Thunderbolt,” according to a statement from the Unitary Police Service.
The crackdown is a reminder of the deadly gang wars the plagued Macau in the late 1990s, but over the last couple of decades has been totally cleaned up. In the early 90′s criminal groups known as triads fought for control of casino VIP rooms and loan-sharking operations resulting in the deaths of 40 people in shootouts. The jailed leader of the 14K triad, ’Broken Tooth’ Wan Kuok-koi, is near the end of his prison term after being sentenced to 15 years in 1999. His release is not known to be the cause of this recent police activity or whether gangs are positioning themselves for his imminent release.
Macau police arrested 17 people on Aug. 2 for cheating in three of the city’s casinos. Those detained were involved in a scheme where casino dealers took bribes and used tiny cameras to take images of cards on baccarat tables, Macau’s Judiciary Police spokesman Chan Kin-hong said.
The case involved $11.6 million and took place at three casinos in Macau city and Cotai Strip, including those run by U.S. casino operators, Chan said, without specifying the names of the casinos.
Hong Kong police arrested 130 people and seized millions on Hong Kong Dollars in cash and property in anti-triad raids to combat money laundering on Aug. 2, as part of the “Thunderbolt” operation with the Macau and Guangdong law enforcement agencies.
Police questioned nearly 1,300 people and detained 149 of them for further investigation as part of an operation codenamed “Thunderbolt,” according to a statement from the Unitary Police Service.
The crackdown is a reminder of the deadly gang wars the plagued Macau in the late 1990s, but over the last couple of decades has been totally cleaned up. In the early 90′s criminal groups known as triads fought for control of casino VIP rooms and loan-sharking operations resulting in the deaths of 40 people in shootouts. The jailed leader of the 14K triad, ’Broken Tooth’ Wan Kuok-koi, is near the end of his prison term after being sentenced to 15 years in 1999. His release is not known to be the cause of this recent police activity or whether gangs are positioning themselves for his imminent release.
Macau police arrested 17 people on Aug. 2 for cheating in three of the city’s casinos. Those detained were involved in a scheme where casino dealers took bribes and used tiny cameras to take images of cards on baccarat tables, Macau’s Judiciary Police spokesman Chan Kin-hong said.
The case involved $11.6 million and took place at three casinos in Macau city and Cotai Strip, including those run by U.S. casino operators, Chan said, without specifying the names of the casinos.
Hong Kong police arrested 130 people and seized millions on Hong Kong Dollars in cash and property in anti-triad raids to combat money laundering on Aug. 2, as part of the “Thunderbolt” operation with the Macau and Guangdong law enforcement agencies.
PokerStars aiming for Nevada license next
Now PokerStars deal of $731 million with the US DOJ, PokerStars based in the Isle of Man has DOJ permission to re-enter the American market but only if it can obtain a license under a state or federal regulatory framework.
For years the company continued to operate in the country in the face of the Unlawful Internet Gambling Enforcement Act of 2006. The legislation convinced some of its competitors to exit U.S. market because of their stock listed standing, but PokerStars, along with Full Tilt Poker and Absolute Poker, stayed in and eventually met their day of reckoning with the feds in April 2011.
Nevada, with its heavy focus on the gaming industry, is leading the charge in the state-by-state legalization model. The Silver State’s gaming regulators have adopted rules for the industry and already licensed three companies to soon begin offering online poker to operators there. The first hand of real-money play under the supervision and taxation of Nevada could be dealt before 2013.
But can PokerStars find a way back to the US?
With its acquisition of former rival Full Tilt, PokerStars has added to its huge database of real-money players, some estimate PokerStars will have over 50% of the total online poker player market. and with that power could be attractive to Nevada, said State Assemblyman William Horne, sponsor of Nevada’s online gaming bill that was passed last summer. Horne is also a member of Nevada’s Gaming Policy Committee, which is headed by the governor.
However, for Horne, who worked extensively with PokerStars before Black Friday, the company has a “credibility issue to overcome.”
Before the federal indictments of the leaders of the major offshore poker sites operating in the U.S. were unsealed, PokerStars had been lobbying hard in Nevada to get real-money online poker authorized. Despite online gaming always being a vital issue for the state, the company was a driving force behind Assembly Bill 258.
An early version of the bill showed how badly PokerStars wanted a foothold in Nevada. The company was willing to pay Nevada four percent of the rake from the rest of the world.
PokerStars’ involvement with Nevada went so far as to land a “strategic partnership” with Wynn Resorts, one of Nevada’s dominant casino companies. The deal disintegrated after PokerStars owner Isai Scheinberg was accused of money laundering, bank fraud and illegal gambling in New York. Scheinberg still has criminal charges against him and could face up to 65 years in jail, if convicted.
According to Tuesday’s DOJ press release, Scheinberg “shall not serve in any management or director role at PokerStars.” However, that could be lifted upon resolution of his criminal case.
Horne said that he doesn’t think PokerStars was “candid” or “forthcoming” during its relationship with state lawmakers. He said that the company probably had an idea that a federal investigation was ongoing at the time.
When asked if PokerStars has burned any bridges in Nevada, Horne said that isn’t the case. He said that he has confidence in Nevada’s gaming regulators to vet each company that applies to do online poker business in the state on a case-by-case basis. PokerStars “might be deserving” of a license, he said.
Gaming Control Board Chairman Mark Lipparelli told the Las Vegas Review-Journal Tuesday that he wouldn’t comment on prospective applicants. He also told the paper that even though “perfection” can’t be expected out of applicants, he still believes many will fail in attempting to get approval in Nevada.
At a recent Gaming Policy Committee meeting, Lipparelli defended Nevada’s position by saying that some large foreign online gaming companies have looked at the state’s regulatory standards and decided they couldn’t make the cut.
It remains to be seen if online poker giant PokerStars will decide to apply, but also who will PokerStars join forces with to work in the US should they apply. Remember all overseas companies need a US based gaming company to work with.
For years the company continued to operate in the country in the face of the Unlawful Internet Gambling Enforcement Act of 2006. The legislation convinced some of its competitors to exit U.S. market because of their stock listed standing, but PokerStars, along with Full Tilt Poker and Absolute Poker, stayed in and eventually met their day of reckoning with the feds in April 2011.
Nevada, with its heavy focus on the gaming industry, is leading the charge in the state-by-state legalization model. The Silver State’s gaming regulators have adopted rules for the industry and already licensed three companies to soon begin offering online poker to operators there. The first hand of real-money play under the supervision and taxation of Nevada could be dealt before 2013.
But can PokerStars find a way back to the US?
With its acquisition of former rival Full Tilt, PokerStars has added to its huge database of real-money players, some estimate PokerStars will have over 50% of the total online poker player market. and with that power could be attractive to Nevada, said State Assemblyman William Horne, sponsor of Nevada’s online gaming bill that was passed last summer. Horne is also a member of Nevada’s Gaming Policy Committee, which is headed by the governor.
However, for Horne, who worked extensively with PokerStars before Black Friday, the company has a “credibility issue to overcome.”
Before the federal indictments of the leaders of the major offshore poker sites operating in the U.S. were unsealed, PokerStars had been lobbying hard in Nevada to get real-money online poker authorized. Despite online gaming always being a vital issue for the state, the company was a driving force behind Assembly Bill 258.
An early version of the bill showed how badly PokerStars wanted a foothold in Nevada. The company was willing to pay Nevada four percent of the rake from the rest of the world.
PokerStars’ involvement with Nevada went so far as to land a “strategic partnership” with Wynn Resorts, one of Nevada’s dominant casino companies. The deal disintegrated after PokerStars owner Isai Scheinberg was accused of money laundering, bank fraud and illegal gambling in New York. Scheinberg still has criminal charges against him and could face up to 65 years in jail, if convicted.
According to Tuesday’s DOJ press release, Scheinberg “shall not serve in any management or director role at PokerStars.” However, that could be lifted upon resolution of his criminal case.
Horne said that he doesn’t think PokerStars was “candid” or “forthcoming” during its relationship with state lawmakers. He said that the company probably had an idea that a federal investigation was ongoing at the time.
When asked if PokerStars has burned any bridges in Nevada, Horne said that isn’t the case. He said that he has confidence in Nevada’s gaming regulators to vet each company that applies to do online poker business in the state on a case-by-case basis. PokerStars “might be deserving” of a license, he said.
Gaming Control Board Chairman Mark Lipparelli told the Las Vegas Review-Journal Tuesday that he wouldn’t comment on prospective applicants. He also told the paper that even though “perfection” can’t be expected out of applicants, he still believes many will fail in attempting to get approval in Nevada.
At a recent Gaming Policy Committee meeting, Lipparelli defended Nevada’s position by saying that some large foreign online gaming companies have looked at the state’s regulatory standards and decided they couldn’t make the cut.
It remains to be seen if online poker giant PokerStars will decide to apply, but also who will PokerStars join forces with to work in the US should they apply. Remember all overseas companies need a US based gaming company to work with.
Reid not getting support for US online poker
Companies hoping for movement in the senate to allow federal law for online poker, seem to be having a losing battle. Sen. Harry Reid, who is one of the champions for the online industry with ihs senate bill to allow online poker has only 40 or so fellow Democrats on board for support and very little interest from Republicans
The bill, yet to be publicly unveiled and said to have been drafted with the collaboration of Sen. Jon Kyl in return for not including online casino gambling, is struggling according to an unidentified Democratic Party source.
Senator Reid was hoping to get support to attach his bill to the lame duck session of the senate, prior to the US Presidential elections, but with barely 40 Democrats interested in supporting the bill & needs significantly more Republican backing than he has yet been able to assemble, it is not looking hopeful for this.
Some weeks ago Reid called on fellow Nevada Sen. Dean Heller to persuade his fellow Republicans to step forward, but there has been little enthusiasm to take it on board.
At the same time the House of Assembly, where Republican Party Rep. Joe Barton appears to be battling with the same lack of interest on his bill proposing the legalisation of online poker where there has been little advance even beyond committee stage. In a US television interview this week Barton virtually admitted that progress was slow, intimating that tribal concerns over the impact of legalised internet poker were the cause, & not opposition from major land gambling companies.
The bill, yet to be publicly unveiled and said to have been drafted with the collaboration of Sen. Jon Kyl in return for not including online casino gambling, is struggling according to an unidentified Democratic Party source.
Senator Reid was hoping to get support to attach his bill to the lame duck session of the senate, prior to the US Presidential elections, but with barely 40 Democrats interested in supporting the bill & needs significantly more Republican backing than he has yet been able to assemble, it is not looking hopeful for this.
Some weeks ago Reid called on fellow Nevada Sen. Dean Heller to persuade his fellow Republicans to step forward, but there has been little enthusiasm to take it on board.
At the same time the House of Assembly, where Republican Party Rep. Joe Barton appears to be battling with the same lack of interest on his bill proposing the legalisation of online poker where there has been little advance even beyond committee stage. In a US television interview this week Barton virtually admitted that progress was slow, intimating that tribal concerns over the impact of legalised internet poker were the cause, & not opposition from major land gambling companies.
August 01, 2012
PokerStars Will Pay $731 Million To Settle U.S. Government Charges and Buy Full Tilt Poker
PokerStars, the world’s biggest online poker company, has agreed to pay $731 million to settle the U.S. government’s civil charges that the company used fraudulent methods to process payments and evade U.S. restrictions on Internet gambling.
Under the agreement, PokerStars, based in the Isle of Man, will also purchase Full Tilt Poker, a former rival which collapsed following the U.S. government’s move in April 2011 to shut down the U.S. operations of the major online poker operators. The deal calls for PokerStars to forfeit $547 million to the U.S. government and make $184 million available to reimburse non-U.S. customers of Full Tilt within 90 days who had money on deposit at the company.
The deal will end the saga of Full Tilt Poker, a company built by Ray Bitar with the help of poker champions like Chris “Jesus” Ferguson and Howard Lederer that Preet Bharara, the U.S. Attorney in Manhattan, has repeatedly said was a Ponzi scheme. But Bharara’s crackdown on the online poker industry continues, including against Isai Scheinberg, the founder of PokerStars, who has been indicted by Bharara for operating an illegal gambling business. Bitar, who recently returned to the U.S. from Ireland to face the criminal charges Bharara has filed against him, pleaded not guilty and is currently out on bail. Scheinberg is believed to be in the Isle of Man.
“Over the past few days, I signed the papers necessary to complete Full Tilt’s deal with the US Government,” Bitar said in a statement. “I believe that this deal will result in Full Tilt’s customers being repaid.”
U.S. players who had money on deposit at Full Tilt when the company collapsed will be able to apply to the Department of Justice to get reimbursed out of the proceeds from the forfeiture. Bharara is trying to tie up some loose ends from his crusade against online poker, which has been led by Assistant U.S. Attorney Arlo Devlin-Brown. For years federal agents successfully worked to cut off companies like Full Tilt from the financial system and by 2010 Full Tilt started to credit customer accounts even though the company could no longer withdraw money from their bank accounts. This game, however, came to a close when Bharara shut down Full Tilt’s U.S. operations last year, exposing a large financial shortfall that Bharara claims was exacerbated by the large payments the company continued to make to its owners even after Full Tilt could no longer access the financial system.
While federal prosecutors in Manhattan have taken the position that Full Tilt was well on its way to financial disaster prior to the April 2011 crackdown on online poker, it was clearly important for Bharara to deal with the perception that U.S. citizens had been overwhelmingly left in the lurch because of his intervention in the online poker industry. But in order to pull off a sale of Full Tilt’s assets, Bharara needed to make a deal with PokerStars, a company whose founder is under indictment. Still, the balance sheet for Bharara looks pretty good given the large obstacles he faced when he first launched his online poker crackdown: the U.S. online poker industry has been decimated, six of the 11 individuals indicted have pleaded guilty; Full Tilt CEO Bitar is being monitored in California, and the U.S. Attorney’s office in Manhattan has secured lots of money. In addition, Scheinberg has agreed to not serve in any managerial or director role at PokerStars while the criminal case against him remains ongoing.
“We are pleased to announce these settlements by Full Tilt Poker and PokerStars, which allow us to quickly get significant compensation into the victim players’ hands,” Bharara said in a statement.
But Scheinberg had some good reasons to ink this deal. While giving up $731 million will hurt, PokerStars can now continue to dominate the international online poker market without the complexity of dealing with a massive civil forfeiture complaint filed against it by the U.S. government. PokerStars will not have to worry about competition from its longtime rival, Full Tilt, and its standing in the online poker community, which was already strong given that it paid all of its customers back and continued operating outside the U.S. after April 2011, will only be helped because it will be seen as coming to the financial rescue of the online poker community.
For PokerStars, the big question is how U.S. gambling regulators will end up viewing the settlement. Las Vegas casino companies like Caesars Entertainment have been working to get Congress to pass a federal law that will green-light online poker while other interests are championing state efforts in places like California. The biggest threat to PokerStars’ dominant market position around the world would be getting locked out of a robust U.S. market. In a statement, PokerStars says that under its agreement with the Department of Justice, the company will not admit to any wrongdoing. PokerStars also said “the agreement explicitly permits PokerStars to apply to relevant U.S. gaming authorities, under both PokerStars and Full Tilt Poker brands, to offer real money online poker when State or Federal governments introduce a framework to regulate such activity.”
“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, who is Isai Scheinberg’s son and now chairman of PokerStars. “This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.”
Under the agreement, PokerStars, based in the Isle of Man, will also purchase Full Tilt Poker, a former rival which collapsed following the U.S. government’s move in April 2011 to shut down the U.S. operations of the major online poker operators. The deal calls for PokerStars to forfeit $547 million to the U.S. government and make $184 million available to reimburse non-U.S. customers of Full Tilt within 90 days who had money on deposit at the company.
The deal will end the saga of Full Tilt Poker, a company built by Ray Bitar with the help of poker champions like Chris “Jesus” Ferguson and Howard Lederer that Preet Bharara, the U.S. Attorney in Manhattan, has repeatedly said was a Ponzi scheme. But Bharara’s crackdown on the online poker industry continues, including against Isai Scheinberg, the founder of PokerStars, who has been indicted by Bharara for operating an illegal gambling business. Bitar, who recently returned to the U.S. from Ireland to face the criminal charges Bharara has filed against him, pleaded not guilty and is currently out on bail. Scheinberg is believed to be in the Isle of Man.
“Over the past few days, I signed the papers necessary to complete Full Tilt’s deal with the US Government,” Bitar said in a statement. “I believe that this deal will result in Full Tilt’s customers being repaid.”
U.S. players who had money on deposit at Full Tilt when the company collapsed will be able to apply to the Department of Justice to get reimbursed out of the proceeds from the forfeiture. Bharara is trying to tie up some loose ends from his crusade against online poker, which has been led by Assistant U.S. Attorney Arlo Devlin-Brown. For years federal agents successfully worked to cut off companies like Full Tilt from the financial system and by 2010 Full Tilt started to credit customer accounts even though the company could no longer withdraw money from their bank accounts. This game, however, came to a close when Bharara shut down Full Tilt’s U.S. operations last year, exposing a large financial shortfall that Bharara claims was exacerbated by the large payments the company continued to make to its owners even after Full Tilt could no longer access the financial system.
While federal prosecutors in Manhattan have taken the position that Full Tilt was well on its way to financial disaster prior to the April 2011 crackdown on online poker, it was clearly important for Bharara to deal with the perception that U.S. citizens had been overwhelmingly left in the lurch because of his intervention in the online poker industry. But in order to pull off a sale of Full Tilt’s assets, Bharara needed to make a deal with PokerStars, a company whose founder is under indictment. Still, the balance sheet for Bharara looks pretty good given the large obstacles he faced when he first launched his online poker crackdown: the U.S. online poker industry has been decimated, six of the 11 individuals indicted have pleaded guilty; Full Tilt CEO Bitar is being monitored in California, and the U.S. Attorney’s office in Manhattan has secured lots of money. In addition, Scheinberg has agreed to not serve in any managerial or director role at PokerStars while the criminal case against him remains ongoing.
“We are pleased to announce these settlements by Full Tilt Poker and PokerStars, which allow us to quickly get significant compensation into the victim players’ hands,” Bharara said in a statement.
But Scheinberg had some good reasons to ink this deal. While giving up $731 million will hurt, PokerStars can now continue to dominate the international online poker market without the complexity of dealing with a massive civil forfeiture complaint filed against it by the U.S. government. PokerStars will not have to worry about competition from its longtime rival, Full Tilt, and its standing in the online poker community, which was already strong given that it paid all of its customers back and continued operating outside the U.S. after April 2011, will only be helped because it will be seen as coming to the financial rescue of the online poker community.
For PokerStars, the big question is how U.S. gambling regulators will end up viewing the settlement. Las Vegas casino companies like Caesars Entertainment have been working to get Congress to pass a federal law that will green-light online poker while other interests are championing state efforts in places like California. The biggest threat to PokerStars’ dominant market position around the world would be getting locked out of a robust U.S. market. In a statement, PokerStars says that under its agreement with the Department of Justice, the company will not admit to any wrongdoing. PokerStars also said “the agreement explicitly permits PokerStars to apply to relevant U.S. gaming authorities, under both PokerStars and Full Tilt Poker brands, to offer real money online poker when State or Federal governments introduce a framework to regulate such activity.”
“We are delighted we have been able to put this matter behind us, and also secured our ability to operate in the United States of America whenever the regulations allow,” said Mark Scheinberg, who is Isai Scheinberg’s son and now chairman of PokerStars. “This outcome demonstrates our continuing global leadership of the online poker industry, and our commitment to working with governments and regulators to ensure the highest standards of protection for players.”
July 31, 2012
Mark Blandford sets up new investment company
Mark Blandford the well known founder of Sportingbet has set up a new venture capital company with some £100 million war chest named Burlywood Capital.
Neil Goulden, the former Gala Coral Group chief executive officer & Panmure Gordon investment banker Andrew Burnett are understood also to be involved in the private equity venture, that will be chaired by Sir David Michels who was the former Hilton Group executive.
The fund is looking to invest in a multiple range of businesses that includes online poker, social gaming and pay-to-play entertainment, the venutre will start the launch at the end of August with an initial £50 million, then raising to the full £100 million early in 2013.
Neil Goulden, the former Gala Coral Group chief executive officer & Panmure Gordon investment banker Andrew Burnett are understood also to be involved in the private equity venture, that will be chaired by Sir David Michels who was the former Hilton Group executive.
The fund is looking to invest in a multiple range of businesses that includes online poker, social gaming and pay-to-play entertainment, the venutre will start the launch at the end of August with an initial £50 million, then raising to the full £100 million early in 2013.
Richard Ames Product Director at Ladbrokes leaves
Richard Ames product director at Ladbrokes has left the company it is reported, Britain’s second largest bookmaker, which is set to announce further costly delays to its beleaguered technology platform this week.
The company has already issued a profit warning about its technology division. But Thursday’s half-year results will show delays have eaten even further into the £15m of profits expected from digital- which are less than half the £31m achieved in the same period last year.
Richard Glynn, Ladbrokes’ chief executive, has overseen a series of management changes since joining the company in April 2010. Insiders say morale has fallen to an all-time low, with very little hope of devising a winning strategy that can compete with William Hill, the UK’s leading bookmaker. Last week, William Hill was able to ramp up pressure on its long-time rival by announcing a 23% increase in online operating profits to £68.9m.
Ladbrokes decided to spend £50m developing its own in-house digital technology, a move many in the industry say was its undoing. Almost all other traditional bookmakers team up with industry respected supliers, such as the done between William Hill and Playtech.
Ladbrokes, however, pushed forward with its own project, which has come up short against rivals and diverted much-needed capital from the advertising budget.
Mr Ames is the last of the old guard who served under Chris Bell, the former chief executive. Last year, he earned in the region of £380,000. But his removal is really designed to appease shareholders who have started to lose their patience with Ladbrokes’ online strategy.
Some insiders suggest Mr Ames’ departure is simply designed to offer up a scapegoat to protect Mr Glynn.
Meanwhile, Nick Rust, who was hired by Mr Glynn, will take over online operations, as well as retail and trading.
The company has already issued a profit warning about its technology division. But Thursday’s half-year results will show delays have eaten even further into the £15m of profits expected from digital- which are less than half the £31m achieved in the same period last year.
Richard Glynn, Ladbrokes’ chief executive, has overseen a series of management changes since joining the company in April 2010. Insiders say morale has fallen to an all-time low, with very little hope of devising a winning strategy that can compete with William Hill, the UK’s leading bookmaker. Last week, William Hill was able to ramp up pressure on its long-time rival by announcing a 23% increase in online operating profits to £68.9m.
Ladbrokes decided to spend £50m developing its own in-house digital technology, a move many in the industry say was its undoing. Almost all other traditional bookmakers team up with industry respected supliers, such as the done between William Hill and Playtech.
Ladbrokes, however, pushed forward with its own project, which has come up short against rivals and diverted much-needed capital from the advertising budget.
Mr Ames is the last of the old guard who served under Chris Bell, the former chief executive. Last year, he earned in the region of £380,000. But his removal is really designed to appease shareholders who have started to lose their patience with Ladbrokes’ online strategy.
Some insiders suggest Mr Ames’ departure is simply designed to offer up a scapegoat to protect Mr Glynn.
Meanwhile, Nick Rust, who was hired by Mr Glynn, will take over online operations, as well as retail and trading.
Betfair gets snookered
Betfair, has signed a deal to sponsor the World Snooker’s new European Tour this season.
The European Tour is a series of six events over the next few months, capitalising on the sport’s burgeoning popularity across the continent. It will be known as the Betfair European Tour with each event broadcast on Eurosport.
The six events, which form part of the Players Tour Championship series, are:
- Paul Hunter Classic, Furth, Germany August 23-26
- Gydnia Open, Gdynia, Poland, October 5-7
- Belgian Open, Antwerp, Belgium, October 19-21
- Bulgarian Open, Sofia, Bulgaria, November 16-18
- Scottish Open, Ravenscraig, Scotland, December 14-16
- Munich Open, Munich, Germany, January 4-6
World Snooker Chairman Barry Hearn said: “We are delighted to bring in Betfair as the sponsor of the European Tour. Just like us, they are targeting emerging markets in many areas of Europe, and this tour will provide tremendous exposure for their brand.
“Each of these events will receive extensive television coverage from Eurosport and the viewing figures are phenomenal. We are extremely excited about the potential snooker has on the continent in the coming years. These events will attract the best professionals and amateurs, providing great opportunities for the players. And for the passionate fans in places like Bulgaria and Poland it’s a chance to see the world’s leading stars compete.”
Matt Robinson, International Director at Betfair, said: “We are delighted to add World Snooker’s new European Tour to our sponsorship portfolio. The tour visits some key European markets so it’s a great way to raise awareness for our brand. We’re excited to support a game which attracts fans both old and new.”
The European Tour is a series of six events over the next few months, capitalising on the sport’s burgeoning popularity across the continent. It will be known as the Betfair European Tour with each event broadcast on Eurosport.
The six events, which form part of the Players Tour Championship series, are:
- Paul Hunter Classic, Furth, Germany August 23-26
- Gydnia Open, Gdynia, Poland, October 5-7
- Belgian Open, Antwerp, Belgium, October 19-21
- Bulgarian Open, Sofia, Bulgaria, November 16-18
- Scottish Open, Ravenscraig, Scotland, December 14-16
- Munich Open, Munich, Germany, January 4-6
World Snooker Chairman Barry Hearn said: “We are delighted to bring in Betfair as the sponsor of the European Tour. Just like us, they are targeting emerging markets in many areas of Europe, and this tour will provide tremendous exposure for their brand.
“Each of these events will receive extensive television coverage from Eurosport and the viewing figures are phenomenal. We are extremely excited about the potential snooker has on the continent in the coming years. These events will attract the best professionals and amateurs, providing great opportunities for the players. And for the passionate fans in places like Bulgaria and Poland it’s a chance to see the world’s leading stars compete.”
Matt Robinson, International Director at Betfair, said: “We are delighted to add World Snooker’s new European Tour to our sponsorship portfolio. The tour visits some key European markets so it’s a great way to raise awareness for our brand. We’re excited to support a game which attracts fans both old and new.”
Argentina’s government looks to nationalise casinos
The AFIP (Administración Federal de Ingresos Públicos) of Argentina last week requested that casinos and bingo halls nationwide supply their slot turnover to the government.
This raised speculation amongst employees that Argentina’s President Cristina Kirchner wants to nationalise gaming, as the AFIP already poses the requested information from the receipt of taxes.
The government has the power to automatically nationalise all casinos controlled by the national government. Under existing legislation, it includes cities that take the lion share collecting around us$70 million a year.
According to recent reports, the industry located inside the capital city’s limits would be subject to any new legislation.
There are three large gaming establishments in Buenos Aires, a racino in the upmarket area of Palermo, and two floating casinos permanently moored next to each other in the city centre.
Congressman Mario Daniel Caputo recently drafted legislation that would give the state “exploitation, regulation, control and administration” of gaming in the state, whilst banning “privatisation, awarding and outsourcing under any conditions.”
Mario Caputo, commented, “From the Chamber of Representatives of the Province of Buenos Aires, it is essential to revise the whole system to bring the regional government a legal instrument that enables to take the most of the resources generated by the games of chance.”
In the case of bingo and gaming halls in Argentina provinces, a bill first needs to be drafted and approved by local legislative leaders.
Privatisation of gaming in Argentina comes as a great shock to the country under Cristina Kirchner, who assumed presidency in 2007. The previous president and former husband of Cristina, the late Néstor Kirchner, had close ties to the gaming industry.
Casino Club, one of the country’s largest gaming operators and owned by a close friend of Mr. Kirchner, was granted permission to run three casinos in Santa Cruz in 2001. Two years later, Casino Club took over the slot machine operation at the Palermo racino and bought a significant share of the floating casinos from CIRSA.
However, things changed with the new President, who according to local media reports, is shutting all correspondence with the industry. The idea of nationalising the gaming industry seems to be gaining ground in Buenos Aires and a newly submitted draft would not renew existing casino and bingo licenses.
Nationalisation is still in the speculative stage and no concrete plans have been announced, but the industry is preparing for a possible change. This would include a central system that would license operators and collect gaming tax.
This raised speculation amongst employees that Argentina’s President Cristina Kirchner wants to nationalise gaming, as the AFIP already poses the requested information from the receipt of taxes.
The government has the power to automatically nationalise all casinos controlled by the national government. Under existing legislation, it includes cities that take the lion share collecting around us$70 million a year.
According to recent reports, the industry located inside the capital city’s limits would be subject to any new legislation.
There are three large gaming establishments in Buenos Aires, a racino in the upmarket area of Palermo, and two floating casinos permanently moored next to each other in the city centre.
Congressman Mario Daniel Caputo recently drafted legislation that would give the state “exploitation, regulation, control and administration” of gaming in the state, whilst banning “privatisation, awarding and outsourcing under any conditions.”
Mario Caputo, commented, “From the Chamber of Representatives of the Province of Buenos Aires, it is essential to revise the whole system to bring the regional government a legal instrument that enables to take the most of the resources generated by the games of chance.”
In the case of bingo and gaming halls in Argentina provinces, a bill first needs to be drafted and approved by local legislative leaders.
Privatisation of gaming in Argentina comes as a great shock to the country under Cristina Kirchner, who assumed presidency in 2007. The previous president and former husband of Cristina, the late Néstor Kirchner, had close ties to the gaming industry.
Casino Club, one of the country’s largest gaming operators and owned by a close friend of Mr. Kirchner, was granted permission to run three casinos in Santa Cruz in 2001. Two years later, Casino Club took over the slot machine operation at the Palermo racino and bought a significant share of the floating casinos from CIRSA.
However, things changed with the new President, who according to local media reports, is shutting all correspondence with the industry. The idea of nationalising the gaming industry seems to be gaining ground in Buenos Aires and a newly submitted draft would not renew existing casino and bingo licenses.
Nationalisation is still in the speculative stage and no concrete plans have been announced, but the industry is preparing for a possible change. This would include a central system that would license operators and collect gaming tax.
July 30, 2012
Hills hire lawyers to fight a whole kingdom
William Hill chief executive Ralph Topping is confident about a legal challenge against the UK government point of consumption (POC) tax plans. Hills has instructed lawyers to challenge the legality of the tax as they claim it’s an attempt to flout EU law by restricting the movement of goods and services for taxation purposes. A Telegraph story quotes Topping as stating he has heard “encouraging noises” from lawyers working on the case. If introduced the new POC tax will take 15 percent of all bets placed on UK soil and thus challenge some of the territories that host UK-facing gambling brands. Gibraltar has already signaled its intention to battle the UK over the new tax plans and don’t be surprised if more opponents come out of the woodwork to take them on.
The UK Gambling Commission is considering creating a “kite-mark” that will encourage operators to adhere to the new regulatory rules. The House of Commons Culture, Media and Sport Committee, which published its findings last week, are looking to limit any “grey” market that might start to operate as a result of the new rules.
“We recommend that the Gambling Commission should consider, as a part of efforts to communicate to online gamblers the potential risks to their funds, introducing a kite-marking system for gambling websites, indicating which sites are regulated in the UK,” the committee said. “This could protect consumers by encouraging them to use UK-regulated sites and by incentivising suppliers to choose to be regulated here.”
Knowing the gambling industry as we do, maybe shit loads of free drinks vouchers for a party at Chequers would be a better idea…
The UK Gambling Commission is considering creating a “kite-mark” that will encourage operators to adhere to the new regulatory rules. The House of Commons Culture, Media and Sport Committee, which published its findings last week, are looking to limit any “grey” market that might start to operate as a result of the new rules.
“We recommend that the Gambling Commission should consider, as a part of efforts to communicate to online gamblers the potential risks to their funds, introducing a kite-marking system for gambling websites, indicating which sites are regulated in the UK,” the committee said. “This could protect consumers by encouraging them to use UK-regulated sites and by incentivising suppliers to choose to be regulated here.”
Knowing the gambling industry as we do, maybe shit loads of free drinks vouchers for a party at Chequers would be a better idea…
Subscribe to:
Posts (Atom)