|Posted by Robert Dowling on May 29, 2013 at 2:20 PM||comments (170)|
Lawmakers pushing to expand gambling in Illinois hope the third time is a charm with a more finely tuned proposal that could make Illinois the fourth state to allow Internet gaming.
The latest proposal includes some familiar ideas: five new casinos, including one in Chicago; thousands of slot machines, including at Chicago’s two airports. But it also includes Internet gambling, which would allow Illinois residents to play games like black jack on their computers or smart phones.
The biggest obstacle to adding more casinos and slot machines in Illinois has been Gov. Pat Quinn, who’s twice rejected proposals sent to his desk, citing a lack of ethical safeguards, regulation and oversight.
Lately, the Chicago Democrat has signaled that he’s open to the idea, even mentioning it in his March budget speech. And the new bill addresses some of Quinn’s concerns by including a ban on political contributions from the gambling industry, appointing an inspector general to monitor gaming and giving the state gaming board more authority over a Chicago casino.
“The stars are probably lining up better than they’ve ever lined up,” said Sen. Terry Link, a Waukegan Democrat who’s a lead sponsor of the legislation. “We’re doing a lot of the things that the governorwanted.”
But the new proposals still could be held up because of the state’s focus on fixing its nearly $100 billion pension problem — Quinn has said that must come first — and the governor’s skepticism of so-called “iGaming,” which the bill’s supporters say might be an option to help fixthe state’s financial problems.
“There hasn’t been much review on that at all,” Quinn told reporters last week. “Any time you have something brand new, it shouldn’t just be thrown into a bill at the last minute.”However, other prominent Democrats point out that it isn’t a new idea, and say Illinois already has been a national leader.
When Illinois became the first state to sell lottery tickets online last year, Senate President John Cullerton introduced legislation that would create a Division of Internet Gaming within the state lottery. Under his proposal, that new division would have made Illinois the first state to jump into the world of online gambling.
But that proposal didn’t get much traction, and three states — Delaware, Nevada and New Jersey — since have legalized Internet gambling, though none has it up and running. The process in those states also was fraught with questions of regulation, something Quinn’s office says needs to be watched closely before Illinois can approve it.
But Link, who has sponsored gambling legislation for about half a dozen years, says it only makes sense because people are doing it online illegally, and legalizing it would help bring profits to the state. The new proposal would also give oversight to Illinois Lottery officials, who didn’t return messages seeking comment.
The proposal calls for splitting profits, between treatment programs for problem gamblers and the pension problem. Supporters estimate the profits that would go toward the state’s public pension system could exceed $50 million.
“This is the only revenue-generating bill that’s been introduced,” Link said.
The casinos — including in Rockford, Danville, Chicago’s south suburbs and Lake County — are estimated to generate between $400 million and $1 billion, and the bulk of the money would be allocated to the state’s Education Assistance Fund, after the local communities receive a share of the profits. Some of the profits from slots would be used to help the state pay its backlog of billions in unpaid bills.
|Posted by Robert Dowling on May 28, 2013 at 11:45 AM||comments (92)|
The sometimes nasty legal battle that Cantor Gaming launched two years ago against former executive Joseph Asher has now extended to arch rival William Hill plc.
In a lawsuit filed earlier this month in Clark County District Court, Cantor charged that William Hill had deliberately poached trade secrets and potential clients when it bought Brandywine Bookmaking LLC in 2011.
Asher started Brandywine in 2008, just over a year after his unfriendly departure from Cantor, then built a network of 16 sports and race books in Nevada under the Lucky’s label.
After London-based William Hill completed the $15.7 million Brandywine deal last June, it named Asher as its CEO for U.S. operations.
Through the transaction, Cantor attorneys wrote in court papers, William Hill “has participated in, and plans to benefit from, Asher’s usurpation of business ideas and opportunities that belong to (Cantor). (Cantor is) informed and believes that the William Hill defendants have acted in concert with Asher and Brandywine for this unlawful objective.”
A Cantor spokeswoman declined to elaborate.
A William Hill spokesman did not return calls on the subject.
But in papers filed in the first case, Asher’s attorneys say that he cleared Brandywine’s business plan with top executives at Cantor Fitzgerald LP, the Wall Street investment firm that owns Cantor Gaming, before leaving in March 2007. Asher said he was fired, while Cantor claims he abruptly walked out.
In Asher’s version, he got the green light because he was interested in physical sports book locations, while Cantor wanted to focus on mobile wagering technology.
Since then, however, Cantor has taken over several sports books, including those in The Venetian, The Cosmopolitan of Las Vegas and the Palms.
“Asher worked tirelessly and loyally on Cantor’s behalf but his loyalty was not reciprocated,” according to court papers.
In particular, Asher said his final year at Cantor was marred by “vitriolic tirades” directed at him by Cantor Gaming CEO Lee Amaitis in a disagreement over regulatory matters.
This fit in with Amaitis’ “history of being intolerable, hostile and abusive towards subordinates,” according to court papers.
While not directly answering the allegations about Amaitis’ demeanor, Cantor attorneys denied that he ever received a verbal release from contract provisions that forbid Asher from using confidential material to compete against Cantor. “(A)s an attorney, Asher understood that his contractual obligations to (Cantor) would only be waived in writing,” according to court papers.
In the lawsuits against both Asher and William Hill, Cantor has asked for unspecified damages to compensate for the alleged theft of business secrets. The Asher case is currently on the calendar for a January jury trial.
Asher has counterclaimed to have certain loans from Cantor erased and for payment of promised compensation, including the purchase of his interest in a Cantor entity.
Source : Casino City News
|Posted by Robert Dowling on May 27, 2013 at 6:25 PM||comments (99)|
24 May 2013
Online casino, poker and sportsbetting provider youwin.com has signed up six-time Grand Slam tennis singles champion and Olympic gold medalist Boris Becker to serve as its brand ambassador.
The five-year agreement will see the well-known German feature at the centre of the company’s marketing efforts as youwin.com looks to push further into its established markets of Germany, Turkey, Canada and Great Britain.
Becker is a keen supporter of Bayern Munich and youwin.com is marking the 45-year-old’s arrival with the special Becker Cash Back offer on this weekend’s all-German final of the UEFA Champions League. Bettors will see losing bets for the main 1x2 market refunded if the score at Wembley Stadium finishes one goal to three in favour of the Bavarians.
“As a company youwin.com has grown exponentially over the last three years so now is exactly the right time to introduce a sporting legend to the youwin.com family who we think personifies our core strengths [of] ambition, dedication and commitment to entertaining the public,” said John Faley from Malta-licensed youwin.com.
“I'm delighted to become a youwin.com ambassador and look forward to a long and successful relationship together,” said Becker.
“It's going to be a great summer of sport this year and if my prediction holds true it will begin with a one goal to three Bayern Munich victory on Saturday.
“Betting has always been an integral part of sporting culture and can create as much excitement for sports fans as the results do. So whether it's backing Bayern or looking forward to the French Open and Wimbledon, our aim is to ensure we continually engage fans at youwin.com.”
source: iGaming Business
|Posted by Robert Dowling on May 27, 2013 at 7:55 AM||comments (177)|
Sunday, May 26, 2013
Powerball Jackpot Winner! There were 3 jackpot winners in the Saturday, May 25, 2013 Powerball drawing: 1 from Delaware, 1 from Florida, and 1 from Louisiana. The winners will equally share the $50 million jackpot prize. More details to follow after the winners come forward to claim their prizes.
|Posted by Robert Dowling on May 26, 2013 at 10:10 PM||comments (94)|
Credit cards issued in the US are the least approved deposit methods for online casino accounts. Usually when a U.S credit card is used for online gambling purposes, the card is declined and blocked automatically. However, some Internet casinos manage to accept these cards without being detected. With internet gambling being now legal in Nevada, New Jersey and Delaware, players will consider using credit cards as a payment method. With this being said, VISA, the technology provider of major credit cards, informed to issuers and processors that VISA’s “Internet Gambling Stand-In Processing (STIP) Blocking Service” doesn't guarantee the same treatment to all gambling payments.
|Posted by Robert Dowling on May 24, 2013 at 4:00 PM||comments (94)|
American technology development and integration services provider GambleID LLC has announced that it has become the 23rd firm to receive an interactive gaming license from the Nevada Gaming Commission.
GambleID revealed that the Class 2 service provider authorisation will allow it to provide licensed gambling operators and their partners in Nevada with its Customer Insight end-to-end patron identification and geo-location verification service.
“The approval places the company in a position among a select few that can provide this service,” read a statement from GambleID, which has offices in Las Vegas and Houston.
GambleID stated that its platforms provide clients with real-time managed solutions for customer data verification, location validation and session security along with access to dynamic reporting services and customised secure web-based management tools.
“Upon hearing the granting, it became an especially important day for us,” said JD Garner, President for Gamble ID.
“The news of the [Nevada Gaming Control] Board and [Nevada Gaming] Commission's final approval is instrumental in our next steps so that is to say we're extremely pleased.
“While the license will provide GambleID with greater scale to equip and support our casino operators and partners with our Customer Insight solutions, we feel our solutions will be vital and beneficial to other regulatory markets as they continue to progress online.”
Source : IGaming Business
|Posted by Robert Dowling on May 24, 2013 at 3:55 PM||comments (88)|
Activity and gross gaming revenues in France’s online gaming and betting market have switched around dramatically in the past few months, Jean-Francois Vilotte, president of the French regulatory authority ARJEL, has revealed in an interview with the French newspaper Les Echos.
Vilotte explained that the market’s structure had changed substantially, with gross profits for online poker cash games down 14% to €61.2m for the 12-month period to May and tournament fees stable at €41m.
Gross gaming revenues for online sports betting of €63.4m meant a rise of 20% on 2012 figures. Football played a large part in this trend and now represents 60% of all online bets in France, with Paris Saint-Germain attracting the bulk of punters’ cash and even Ligue 2 (second division) experiencing a significant rise in volume.
Gross gaming revenues for online pari mutuel horse racing rose 3% to €103m but Vilotte explained that the activity was stagnating, “even dropping off in the past five weeks”.
ARJEL’s president repeated his call for the country to change its taxation system to one based on gross gaming revenues rather than on stakes as is the case currently. Vilotte added that little progress was being made in terms of a European regulatory-judicial framework: “The European Commission just needs to draw the lessons of European jurisprudence with regard to the principle of subsidiarity. On the other hand, work undertaken by the Council of Europe on sporting ethics is progressing well.”
“The French online gaming industry has well and truly established itself and, as expected, has consolidated,” said Vilotte. “By way of comparison, gross gaming revenues for the sector were €188m fir the first quarter in France, compared with €145m in Italy. The sector was down 1% in France whereas it dropped 14% in Italy, because of the economic environment.”
Source, Igaming Business
|Posted by Robert Dowling on May 18, 2013 at 4:40 PM||comments (0)|
E-commerce platform Rakuten has entered a strategic alliance with Yapital, a cross-channel payment solution.
As a result, Rakuten will expand its payment portfolio to include a cashless, cross-channel payment method and will enable its customers to pay with Yapital.
The two companies have revealed plans to maintain a close collaboration in many areas, which will be developed further over the coming months.
Rakuten is a German provider of online shop solutions with integrated marketplace and offers a range of products including payment processing, customer communication during the ordering process, continuous updating of the terms and conditions and the assumption of risk for payment defaults.
Yapital is a European cashless cross-channel payment solution across all channels including stationary, mobile and online as well as via invoice. Yapital was founded in 2011 as a wholly-owned subsidiary of the Otto-Group. Yapital is licensed as an electronic money institution in Luxembourg.
|Posted by Robert Dowling on May 18, 2013 at 4:15 PM||comments (173)|
Global poker tournaments organiser and promoter World Poker Tour (WPT) Enterprises Incorporated has partnered with social video games developer TransGaming Incorporated to launch a new WPT-branded title on GameTree TV for the Freebox Revolution.
WPT Enterprises is a subsidiary of Gibraltar-based online casino and poker operator bwin.party digital entertainment and the new exclusive WPT game has been designed to immerse players in an authentic no-limit Texas hold‘em experience through the use of three-dimensional visuals and state-of-the-art computer-generated opponents.
The Freebox Revolution is the latest generation set-top box by French telecommunication company Free, which was the first to introduce the ‘triple-play’ combination of Internet, landline, and IP television in France.
“WPT is known for providing its players with incredible poker experiences both in live events and online,” said Adam Pliska, President for WPT Enterprises.
“We couldn't be more pleased with our new game from TransGaming, which gives our global fan base an immersive and authentic WPT experience on their connected televisions.”
For its part, TransGaming stated that the WPT is now available as part of the GameTree TV subscription service and will be presented for purchase separately ‘shortly’.
“The connected television market is growing at a rapid pace and consumers are looking for the highest quality branded entertainment content on their televisions,” said Vikas Gupta, Chief Executive Officer and President for TransGaming.
“We've built the WPT video game to offer a dedicated ‘television-based experience’ that makes players feel like they are participating in a real WPT tournament. This game is truly extraordinary and we believe it will define the connected television video games experience.
“We have seen strong traction and revenue growth since our migration to a subscription-only model with GameTree TV and the availability of WPT is expected to catalyse this growth.”
|Posted by Robert Dowling on May 18, 2013 at 2:20 PM||comments (102)|
The Private equity firm CVC Capital Partners has abandoned its bid to purchase Sports betting exchange Betfair saying a failure to agree a price and a strategy. The news comes shortly after it was reported that Betfair had rejected an improved 950 pence a share bid proposal from CVC, the largest shareholder in Formula One motor racing. The Betfair board had been reportedly seeking more than £10 per share. Industry analysts are now saying that the failure of talks, which began last month, will increase pressure on recently installed Betfair CEO Breon Corcoran to deliver on a plan to cut costs and pull back from markets such as Greece and Germany where regulatory risk is too high or tax rates punitive.