The Division of Gaming Enforcement (DGE) in New Jersey issued Transactional Waivers Friday to online gaming companies partnered with six of the seven Atlantic City casinos that will launch online gaming sites on November 26th.
The waivers enable Borgata, Caesars, Golden Nugget, Tropicana, Trump Plaza and Trump Taj Mahal to go live on that date with their online poker and casino offerings, while Resorts and its online partner PokerStars continue to wait for approval.
A spokesperson for PokerStars said: "Our application remains under review by the New Jersey Division of Gaming Enforcement and we remain committed to working with the Division to complete the review process."
But the wait is over for the rest. bwin.party received a waiver to begin transacting with Borgata, as did GameAccount (Trump Plaza); Fertitta (Trump Taj Mahal); Amaya (Caesars, Borgata, Golden Nugget and Trump Plaza); Gamesys (Tropicana); 888 (Caesars' and Bally's); and Bally Technologies (Golden Nugget).
The DGE also said Friday that eight other companies were considered eligible to receive a Transaction Waiver, once they enter into an agreement with a casino licensee or platform provider and request the waiver.
The companies that have passed a preliminary investigation are Paddy Power, Scientific Games, Williams Interactive, Genesis Gaming, Betable, Evolution, Pala Interactive, and Rush Street Interactive.
The DGE added that it continues to review other companies who have filed for Casino Service Industry Enterprise (CSIE) licensure, ancillary casino service industry enterprise licensure and vendor registration.
November 08, 2013
Japan’s big developers plan super casino in Tokyo
A proposed new casino development in Tokyo, Japan is being lined up by Japan’s biggest property developer Mitsui Fudosan Co which has joined forces with media firm Fuji Media Holdings and builder Kajima Corp.
It has been over 10 years of lobbying from supporters of casinos in the country but next year it is believed that land based casinos will be allowed by the new government of the business-friendly Liberal Democratic Party.
Following Japan winning the 2020 Olympic Games bid it is strongly believed the government will legalise gambling to help pull in more desperately needed tax from the building of casinos.
The three companies want to build a complex in Odaiba, near Tokyo Bay, that would include a hotel, conference centre and a casino.
“Our role in this project would be to get involved and make a contribution to help Tokyo become a more attractive city,” said Masatoshi Satou, Mitsui Fudosan’s executive managing officer. “But it is totally up to what happens to the bill and the direction of the government.”
Gambling giants MGM Resorts International, Las Vegas Sands Corp, Melco Crown Entertainment and Wynn Resorts Ltd have also shown interest in developing casino resorts in Japan, which is the last untapped country where operators believe huge profits can be made from Japanese gamblers.
More than 100 lawmakers, many from the ruling Liberal Democratic Party, will meet on Tuesday next week to discuss and finalize plans for an initial bill which will then be submitted during the current parliament session that ends next month.
If the legislation passes as expected next year, the government will come up with concrete regulations within a year. Which would mean the first casino would open in Japan in time for the 2020 Olympics.
It has been over 10 years of lobbying from supporters of casinos in the country but next year it is believed that land based casinos will be allowed by the new government of the business-friendly Liberal Democratic Party.
Following Japan winning the 2020 Olympic Games bid it is strongly believed the government will legalise gambling to help pull in more desperately needed tax from the building of casinos.
The three companies want to build a complex in Odaiba, near Tokyo Bay, that would include a hotel, conference centre and a casino.
“Our role in this project would be to get involved and make a contribution to help Tokyo become a more attractive city,” said Masatoshi Satou, Mitsui Fudosan’s executive managing officer. “But it is totally up to what happens to the bill and the direction of the government.”
Gambling giants MGM Resorts International, Las Vegas Sands Corp, Melco Crown Entertainment and Wynn Resorts Ltd have also shown interest in developing casino resorts in Japan, which is the last untapped country where operators believe huge profits can be made from Japanese gamblers.
More than 100 lawmakers, many from the ruling Liberal Democratic Party, will meet on Tuesday next week to discuss and finalize plans for an initial bill which will then be submitted during the current parliament session that ends next month.
If the legislation passes as expected next year, the government will come up with concrete regulations within a year. Which would mean the first casino would open in Japan in time for the 2020 Olympics.
UK government moves forward with “point of consumption” tax
The point of consumption tax that has caused so much contention amongst online gambling operators working and serving the UK market has taken another step to becoming into effect with a second reading in the house of commons.
The Gambling (Licensing and Advertising) Bill was passed unopposed at second reading in the Commons on 5 November, Under the terms of the bill, all overseas operators offering gambling services to customers in the UK will be required to hold a UK Gambling Commission licence. Currently these businesses are governed by the regulatory authorities of countries in which they are based.
Culture minister Helen Grant told MPs that the new licensing requirement will make overseas operators “the subject of robust and consistent regulation, increasing protection for UK consumers, supporting action against illegal activity and establishing fairer competition for British-based operators”.
Labour’s culture spokesman Clive Efford said the bill had been “a long time coming”. But he questioned why it did not include action against match-fixing in sport.
He said the European Parliament had passed a resolution to make match-fixing a criminal offence and sports governing bodies had also strengthened their own laws.
“Why when we are attempting to create the most robust system for regulating the gambling industry here in the UK would we fail to introduce this specific form of sanction?” he asked.
The Gambling (Licensing and Advertising) Bill was passed unopposed at second reading in the Commons on 5 November, Under the terms of the bill, all overseas operators offering gambling services to customers in the UK will be required to hold a UK Gambling Commission licence. Currently these businesses are governed by the regulatory authorities of countries in which they are based.
Culture minister Helen Grant told MPs that the new licensing requirement will make overseas operators “the subject of robust and consistent regulation, increasing protection for UK consumers, supporting action against illegal activity and establishing fairer competition for British-based operators”.
Labour’s culture spokesman Clive Efford said the bill had been “a long time coming”. But he questioned why it did not include action against match-fixing in sport.
He said the European Parliament had passed a resolution to make match-fixing a criminal offence and sports governing bodies had also strengthened their own laws.
“Why when we are attempting to create the most robust system for regulating the gambling industry here in the UK would we fail to introduce this specific form of sanction?” he asked.
Amaya signs bwin.party games deal for New Jersey & Europe
Canadian gaming software supplier Amaya Gaming Group has entered into a licensing agreement to supply UK-listed bwin.party digital entertainment with a range of its online casino content for the operator’s online gaming brands in Europe and New Jersey.
bwin.party will be launching three online gaming websites in New Jersey on behalf of its New Jersey gaming partner, the Borgata Hotel Casino and Spa, including Partypoker.com, Borgatacasino.com and Borgatapoker.com.
The websites will all be integrated with Amaya’s Casino Gaming System, providing customers with access to a selection of the supplier’s proprietary and third-party gaming content.
bwin.party’s director of games Golan Shaked said the deal will give customers access to “an even wider range of market-leading online casino games through the Partypoker.com, Borgatacasino.com and Borgatapoker.com gaming sites in New Jersey.”
“We are delighted to be working with one of the premier providers of online casino content in the market today,” Shaked said.
Amaya’s content will also go live across bwin.party’s existing European-facing websites, including those operating under its PartyPoker, bwin, PartyCasino and Foxy Bingo brands.
Amaya chief executive David Baazov said he was “thrilled” to extend his company’s relationship with the Gibraltar-based operator. bwin.party sold its Ongame poker network to Amaya last year.
“We look forward to leveraging our proven online casino content and bwin.party's strong reputation and partnerships to embrace the emerging but exciting online gaming market in the U.S. and the existing online gaming markets they serve,” Baazov added.
bwin.party will be launching three online gaming websites in New Jersey on behalf of its New Jersey gaming partner, the Borgata Hotel Casino and Spa, including Partypoker.com, Borgatacasino.com and Borgatapoker.com.
The websites will all be integrated with Amaya’s Casino Gaming System, providing customers with access to a selection of the supplier’s proprietary and third-party gaming content.
bwin.party’s director of games Golan Shaked said the deal will give customers access to “an even wider range of market-leading online casino games through the Partypoker.com, Borgatacasino.com and Borgatapoker.com gaming sites in New Jersey.”
“We are delighted to be working with one of the premier providers of online casino content in the market today,” Shaked said.
Amaya’s content will also go live across bwin.party’s existing European-facing websites, including those operating under its PartyPoker, bwin, PartyCasino and Foxy Bingo brands.
Amaya chief executive David Baazov said he was “thrilled” to extend his company’s relationship with the Gibraltar-based operator. bwin.party sold its Ongame poker network to Amaya last year.
“We look forward to leveraging our proven online casino content and bwin.party's strong reputation and partnerships to embrace the emerging but exciting online gaming market in the U.S. and the existing online gaming markets they serve,” Baazov added.
November 05, 2013
Unibet post impressive results
Unibet the Swedish online gambling operator has announced impressive results for the nine-month period January 1 to September 30, 2013, with net profits almost tripling and mobile revenues soaring. Here are the main points from Unibet:
· Gross winnings revenue amounted to GBP 56.1 (43.8) million for the third quarter of 2013 and GBP 169.5 (140.3) million for the period January to September 2013.
· Profit from operations for the third quarter 2013 amounted to GBP 9.2 (4.5) million and GBP 29.0 (22.6) million for the period January to September 2013.
· Profit before tax for the third quarter of 2013 amounted to GBP 9.2 (4.0) million and GBP 27.9 (22.1) million for the period January to September 2013.
· Profit after tax for the third quarter of 2013 amounted to GBP 8.2 (3.4) million and GBP 25.4 (19.8) million for the period January to September 2013.
· Earnings per share for the third quarter of 2013 were GBP 0.292 (0.120) and GBP 0.908 (0.710) for the period January to September 2013.
· Operating cash flow before movements in working capital amounted to GBP 14.2 (8.7) million for the third quarter 2013 and GBP 43.4 (34.2) million for the period January to September 2013.
· Number of active customers at the end of the quarter was 453,753 (382,378).
“28 per cent organic growth”
“Unibet delivered 28 per cent year on year growth in gross winnings revenue in the third quarter (22 per cent excluding the impact of exchange rate changes). This was achieved despite the excellent summer weather in many of our key markets and high numbers of favourites winning. The growth was wholly organic and demonstrates continued increases in market share.”
“It is also satisfying to report that underlying EBITDA for the third quarter increased in line with the growth in revenues, demonstrating improved scalability despite the significant investments Unibet has made in information mining, local regulation and in Kambi.”
“Unibet’s mobile offering continued to develop and mobile revenues represented 23 per cent of gross winnings revenue for the third quarter 2013 compared to 8 per cent for the same period last year. This proportion is significantly higher in certain key markets.”
“In the period up to 3 November, average daily gross winnings revenue has increased by over 21 per cent compared to the third quarter 2013”, says Henrik Tjärnström, CEO of Unibet.
· Gross winnings revenue amounted to GBP 56.1 (43.8) million for the third quarter of 2013 and GBP 169.5 (140.3) million for the period January to September 2013.
· Profit from operations for the third quarter 2013 amounted to GBP 9.2 (4.5) million and GBP 29.0 (22.6) million for the period January to September 2013.
· Profit before tax for the third quarter of 2013 amounted to GBP 9.2 (4.0) million and GBP 27.9 (22.1) million for the period January to September 2013.
· Profit after tax for the third quarter of 2013 amounted to GBP 8.2 (3.4) million and GBP 25.4 (19.8) million for the period January to September 2013.
· Earnings per share for the third quarter of 2013 were GBP 0.292 (0.120) and GBP 0.908 (0.710) for the period January to September 2013.
· Operating cash flow before movements in working capital amounted to GBP 14.2 (8.7) million for the third quarter 2013 and GBP 43.4 (34.2) million for the period January to September 2013.
· Number of active customers at the end of the quarter was 453,753 (382,378).
“28 per cent organic growth”
“Unibet delivered 28 per cent year on year growth in gross winnings revenue in the third quarter (22 per cent excluding the impact of exchange rate changes). This was achieved despite the excellent summer weather in many of our key markets and high numbers of favourites winning. The growth was wholly organic and demonstrates continued increases in market share.”
“It is also satisfying to report that underlying EBITDA for the third quarter increased in line with the growth in revenues, demonstrating improved scalability despite the significant investments Unibet has made in information mining, local regulation and in Kambi.”
“Unibet’s mobile offering continued to develop and mobile revenues represented 23 per cent of gross winnings revenue for the third quarter 2013 compared to 8 per cent for the same period last year. This proportion is significantly higher in certain key markets.”
“In the period up to 3 November, average daily gross winnings revenue has increased by over 21 per cent compared to the third quarter 2013”, says Henrik Tjärnström, CEO of Unibet.
Are Paddy Power's high-profile stunts going down well with punters on social media?
Paddy Power's heady mix of subversion, mischief and sports chat is proving popular with the social-media crowd.
Recently, the bookmaker's head of brand, Paul Sweeney, said the company was in the "entertainment" business.
A glance at the content pumped out by its Twitter and Facebook presences bears out Sweeney's claim. Sports banter is the order of the day, focused on having a conversation with users.
Stunts have always been a go-to marketing tactic for Paddy Power, but this year they took on a different social dimension. The brand supported Stonewall's "Rainbow Laces" campaign against homophobia, which sent a pair of laces to players at every football league club in England and Scotland. For "basketball diplomacy", an attempt to thaw North Korea-US relations, it backed ex-NBA star Dennis Rodman's quest to organise a game between the two countries.
Sure, the brand gets things wrong on occasion, but for the most part, Paddy Power's social-media content is setting the standard in its sector.
44% of comment on Paddy Power related to the subject of brand preference. The bookmaker's ethical stance helped to drive overall positive perceptions of the brand. Issues discussed included Paddy Power's fair pay-outs and its recent anti-homophobia campaign with Stonewall.
75% of conversations about William Hill benefits were positive. Many believed they would win more with it than other bookmakers, especially for poker and casino games. Factors such as tokens and online support appear to have boosted its appeal.
Recently, the bookmaker's head of brand, Paul Sweeney, said the company was in the "entertainment" business.
A glance at the content pumped out by its Twitter and Facebook presences bears out Sweeney's claim. Sports banter is the order of the day, focused on having a conversation with users.
Stunts have always been a go-to marketing tactic for Paddy Power, but this year they took on a different social dimension. The brand supported Stonewall's "Rainbow Laces" campaign against homophobia, which sent a pair of laces to players at every football league club in England and Scotland. For "basketball diplomacy", an attempt to thaw North Korea-US relations, it backed ex-NBA star Dennis Rodman's quest to organise a game between the two countries.
Sure, the brand gets things wrong on occasion, but for the most part, Paddy Power's social-media content is setting the standard in its sector.
44% of comment on Paddy Power related to the subject of brand preference. The bookmaker's ethical stance helped to drive overall positive perceptions of the brand. Issues discussed included Paddy Power's fair pay-outs and its recent anti-homophobia campaign with Stonewall.
75% of conversations about William Hill benefits were positive. Many believed they would win more with it than other bookmakers, especially for poker and casino games. Factors such as tokens and online support appear to have boosted its appeal.
November 04, 2013
32Red partners ITV for exclusive online slot launch
Gibraltar-licensed online gaming operator 32Red has signed a three-year deal with UK broadcaster ITV to launch an exclusive new online slot game based on popular reality TV show I'm a Celebrity... Get Me Out Of Here!
32Red signed the agreement with ITV’s Brand Extensions division, which was established to help the broadcaster monetise its most popular programmes.
32Red’s chief executive Ed Ware said his company was “working closely with ITV on a number of initiatives,” adding he was “very excited” about launching the new online slot, which has been developed by Microgaming and is expected to go live on 32Red.com on Thursday, ahead of the show’s return to UK TV screens later this month.
“Obviously the programme is extremely well known and the character of the show converts well into the exclusive slot game we are launching later this week,” Ware explained. “It's another landmark alliance for 32Red and part of our plan to invest in the brand and make positive but relevant associations with highly credible partners.”
I’m a Celebrity … Get me out of here! is a reality TV show in which eight to twelve celebrities live together in a jungle environment for a few weeks without any luxuries, with the winner crowned king or queen of the jungle. The first episode aired in the UK in 2002 with the thirteenth series of the show set to begin later this month.
The new slot game uses iconography from the TV show, as well as the theme tune and other features. Aside from the regular game play, players have the chance to win up to 50 free spins when 3, 4 or 5 scatters appear on screen, triggering a Bushtucker Trial style choice of creepy insects to decide on the free spins multiplier.
32Red’s head of marketing Mark Quayle asaid that the company was “confident that the association with such a strong brand will prove to be a huge success for us.”
“The slot game will be available for casino, poker and bingo players at 32Red to ensure all of our players can sample the thrills of the jungle,” he said.
The partnership marks ITV’s latest online gaming partnership, with the company already working with operator NetPlay TV on the casino site Jackpot247 which features both companies’ branding, and ITV Bingo, managed by Foxy Bingo operator Cashcade and using software provided by 888’s B2B arm Dragonfish.
William van Rest, ITV's director of commerce and ventures, said: “ITV is pleased to be working with 32Red on this fantastic brand extension for I'm a Celebrity.. Get Me Out Of Here! The slot design brings the jungle and its creepy creatures alive with a great new game for 32Red players. We are sure it will be a very popular addition to the 32Red offer.”
It is the first instance of 32Red launching new content with one of its partners, with the majority of its previous deals involving advertising opportunities. The operator sponsors a number of horse racing events, and is an active football sponsor currently working with Italian club Bologna FC. It also sponsors the Late Night Film on UK TV channel Film4.
32Red signed the agreement with ITV’s Brand Extensions division, which was established to help the broadcaster monetise its most popular programmes.
32Red’s chief executive Ed Ware said his company was “working closely with ITV on a number of initiatives,” adding he was “very excited” about launching the new online slot, which has been developed by Microgaming and is expected to go live on 32Red.com on Thursday, ahead of the show’s return to UK TV screens later this month.
“Obviously the programme is extremely well known and the character of the show converts well into the exclusive slot game we are launching later this week,” Ware explained. “It's another landmark alliance for 32Red and part of our plan to invest in the brand and make positive but relevant associations with highly credible partners.”
I’m a Celebrity … Get me out of here! is a reality TV show in which eight to twelve celebrities live together in a jungle environment for a few weeks without any luxuries, with the winner crowned king or queen of the jungle. The first episode aired in the UK in 2002 with the thirteenth series of the show set to begin later this month.
The new slot game uses iconography from the TV show, as well as the theme tune and other features. Aside from the regular game play, players have the chance to win up to 50 free spins when 3, 4 or 5 scatters appear on screen, triggering a Bushtucker Trial style choice of creepy insects to decide on the free spins multiplier.
32Red’s head of marketing Mark Quayle asaid that the company was “confident that the association with such a strong brand will prove to be a huge success for us.”
“The slot game will be available for casino, poker and bingo players at 32Red to ensure all of our players can sample the thrills of the jungle,” he said.
The partnership marks ITV’s latest online gaming partnership, with the company already working with operator NetPlay TV on the casino site Jackpot247 which features both companies’ branding, and ITV Bingo, managed by Foxy Bingo operator Cashcade and using software provided by 888’s B2B arm Dragonfish.
William van Rest, ITV's director of commerce and ventures, said: “ITV is pleased to be working with 32Red on this fantastic brand extension for I'm a Celebrity.. Get Me Out Of Here! The slot design brings the jungle and its creepy creatures alive with a great new game for 32Red players. We are sure it will be a very popular addition to the 32Red offer.”
It is the first instance of 32Red launching new content with one of its partners, with the majority of its previous deals involving advertising opportunities. The operator sponsors a number of horse racing events, and is an active football sponsor currently working with Italian club Bologna FC. It also sponsors the Late Night Film on UK TV channel Film4.
November 02, 2013
US Virgin Islands become 4th state to enter online gambling
The Virgin Islands are looking to renew their interest towards online gambling, indeed the the “Virgin Islands Internet Gaming and Internet Gambling Act” was passed way back in 2001 but never pushed by the government as a serious offering for online operators to take up.
However now that the tiny islands are struggling with an economic downturn they are now announcing they are open for business and welcome all online operators to take a look at the benefits of using the islands as their online gambling base.
“This marks a turning point in the diversification of our gaming industry from land-based casinos and racinos, to Internet gaming and gambling…The implementation of this Act will fulfill our mission of attracting very successful global Internet gaming companies to the Virgin Islands, and encourage new investments to our struggling economy,” the islands governor said.
This makes the Virgin Islands the fourth state in the US to legalise online gambling, however with a total population of some 120,000 citizens online gambling operators will not be knocking down the door to get into that market.
“The Virgin Islands is open for business and the Virgin Islands Casino Control Commission will begin to implement the act immediately,” the governor said.
Who and when the Virgin Islands will be tapped into by online gambling is unclear at this present, a gambling industry insider said that most likely a land based local operator will try and enter the market there, but with such a small population it will not interest any of the major players in the market.
However now that the tiny islands are struggling with an economic downturn they are now announcing they are open for business and welcome all online operators to take a look at the benefits of using the islands as their online gambling base.
“This marks a turning point in the diversification of our gaming industry from land-based casinos and racinos, to Internet gaming and gambling…The implementation of this Act will fulfill our mission of attracting very successful global Internet gaming companies to the Virgin Islands, and encourage new investments to our struggling economy,” the islands governor said.
This makes the Virgin Islands the fourth state in the US to legalise online gambling, however with a total population of some 120,000 citizens online gambling operators will not be knocking down the door to get into that market.
“The Virgin Islands is open for business and the Virgin Islands Casino Control Commission will begin to implement the act immediately,” the governor said.
Who and when the Virgin Islands will be tapped into by online gambling is unclear at this present, a gambling industry insider said that most likely a land based local operator will try and enter the market there, but with such a small population it will not interest any of the major players in the market.
November 01, 2013
Daniel Tzvetkoff seen living the good life again
Daniel Tzvetkoff the man who ran Intabill and was arrested in April 2010 for money laundering and then gave up the entire online poker industry as a super grass to avoid a 75 year jail sentence has been spotted enjoying the good life again under the witness protection program.
The fallen Australian whiz kid who set up Intabill to process money payments with online gambling companies still working in the US market after the 2006 UIGEA was charged with money laundering to the value of over $500 million, but in return from facing jail gave US authorities inside information on his former customers in return for his freedom.
Reports in the Australian Newspaper this week say that Tzvetkoff was seen recently walking along the Gold Coast beach and even posted photos of himself and his wife while hiding out for several months on another beach in southeast Asia.
Tzvetkoff was discharged earlier this year from bankruptcy thou he has never repaid any of the debt he owes including to the Australian tax office totaling $143 million.
Here is a snapshot of David Tzvetkoff’s life:
AUGUST 2001: BT Projects founded
FEBRUARY 2007: Online payment company Intabill registered
MARCH 2008: Tzvetkoff buys Hedges Avenue mansion for $28 million. Has additional property portfolio of more than $21 million
AUGUST 2008: Features on Sunday Mail Rich List worth $82 million
MARCH 2009: Buys V8 supercar team, Inta Racing
APRIL 2009: Sacks 96 staff at his Intabill office
JULY 2009: BT Projects placed in liquidation with debts of $80 million
JULY 2009: Business partner Sam Sciacca sues Tzvetkoff for $100 million
JULY 2009: Online poker house Kolyma sues for $52 million
JULY 2009: Sells partnership in Zuri nightclub
AUGUST 2009: Sells 30m superyacht Maximus
NOVEMBER 2009: Hedges Ave mansion sold for $17 million
JANUARY 2010: Files for bankruptcy
APRIL 2010: Charged by US authorities with money laundering. Faces 75 years in jail
MARCH 2011: Deal with US DOJ to enter witness protection program
OCTOBER 2013: Seen out and about in Australia and posting photos on facebook.
The fallen Australian whiz kid who set up Intabill to process money payments with online gambling companies still working in the US market after the 2006 UIGEA was charged with money laundering to the value of over $500 million, but in return from facing jail gave US authorities inside information on his former customers in return for his freedom.
Reports in the Australian Newspaper this week say that Tzvetkoff was seen recently walking along the Gold Coast beach and even posted photos of himself and his wife while hiding out for several months on another beach in southeast Asia.
Tzvetkoff was discharged earlier this year from bankruptcy thou he has never repaid any of the debt he owes including to the Australian tax office totaling $143 million.
Here is a snapshot of David Tzvetkoff’s life:
AUGUST 2001: BT Projects founded
FEBRUARY 2007: Online payment company Intabill registered
MARCH 2008: Tzvetkoff buys Hedges Avenue mansion for $28 million. Has additional property portfolio of more than $21 million
AUGUST 2008: Features on Sunday Mail Rich List worth $82 million
MARCH 2009: Buys V8 supercar team, Inta Racing
APRIL 2009: Sacks 96 staff at his Intabill office
JULY 2009: BT Projects placed in liquidation with debts of $80 million
JULY 2009: Business partner Sam Sciacca sues Tzvetkoff for $100 million
JULY 2009: Online poker house Kolyma sues for $52 million
JULY 2009: Sells partnership in Zuri nightclub
AUGUST 2009: Sells 30m superyacht Maximus
NOVEMBER 2009: Hedges Ave mansion sold for $17 million
JANUARY 2010: Files for bankruptcy
APRIL 2010: Charged by US authorities with money laundering. Faces 75 years in jail
MARCH 2011: Deal with US DOJ to enter witness protection program
OCTOBER 2013: Seen out and about in Australia and posting photos on facebook.
bwin.party founders to sell shares for New Jersey license
James Russell DeLeon and Ruth Parasol DeLeon whom were two of the original founders of PartyGaming have offered to sell their remaining shares in bwin.party in an attempt to convince New Jersey regulators to issue the European based company its New Jersey online gambling license.
The couple who are going through divorce proceedings after marrying in 2003 had to go through separate licensing applications as major shareholders of an applying licensing company, to which they prefer not to do, so have instead offered to place their shares in trust for a three year period in which time they are to be sold.
In total the pair have just over 14% stake in the merged bwin.party company and there were concerns that because of their background in partygaming and pre-UIGEA activities there could be some danger of the online gambling giant failing to receive a New Jersey online gambling license which they are partnering with the Borgata.
The start of online gambling in the state is slated for the 26th November, at present only 5 of the 12 casino operators in the state have been granted their licenses, however a gaming industry insider working in New Jersey expects a raft of license approvals over the next 5 days.
The couple who are going through divorce proceedings after marrying in 2003 had to go through separate licensing applications as major shareholders of an applying licensing company, to which they prefer not to do, so have instead offered to place their shares in trust for a three year period in which time they are to be sold.
In total the pair have just over 14% stake in the merged bwin.party company and there were concerns that because of their background in partygaming and pre-UIGEA activities there could be some danger of the online gambling giant failing to receive a New Jersey online gambling license which they are partnering with the Borgata.
The start of online gambling in the state is slated for the 26th November, at present only 5 of the 12 casino operators in the state have been granted their licenses, however a gaming industry insider working in New Jersey expects a raft of license approvals over the next 5 days.
Subscribe to:
Posts (Atom)