Posts Tagged "online gambling"

New Gaming Realms Partnership Earns Express Newspapers online gambling assets

New Gaming Realms Partnership Earns Express Newspapers online gambling assets

Express Newspapers consisting of Northern and Shell UK news publishers have partnered with industry content and platform provider Gaming Realms. They have agreed to have a social games and real-money collaboration with the provider. Two new online gambling sites; Express Wins and Star Wins will be launched by the Express Newspapers’, Daily Star and Daily Express. This report was given by Gaming Realms officials who confirmed the partnership.
Bear Group, Gaming Realms’ real money gaming division will provide the UK gaming websites. They will as well maintain and operate Express Newspaper gambling entities. There will be advertisement that will be supported across all media networks by the Express Newspapers’ print and digital entities. The Gaming Realms governing officials said that the partnership would run for a minimum period of three years. This will be on a revenue share agreement basis. Patrick Southton the CEO of Gaming Realms commented on the agreement.

He said that it was a very good idea for the Group to sign the deal with renowned UK newspaper businesses. He added that the partnership would unlock a very important source of revenue and also increase chances of future partnership deals. This would happen if the collaboration with Express Newspapers was successful. This came shortly after Gaming Realms Plc operator entered into a partnership with Ayima specialist agency which is known for digital marketing.

This partnership will see Gaming Realms give control of media performance and buying marketing of QuickThink Media Limited to Ayima. With this partnership, Ayima will be shown to act as the leading online marketing agency. They will also act as player acquisition agencies for Gaming Realms brands and assets. Gaming Realms will have control of about 10%in terms of shares.

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William Hill turns down bid by Rank-888 consortium

William Hill turns down bid by Rank-888 consortium

The board of William Hill has accused the Casino operator Rank Group and the online gambling company 888 of undervaluing it. This led the bookmaker to decline a £3.3bn takeover bid from the two companies. Casino operator Rank Group and the online gambling company had made a proposal worth 364p per share. Combining three businesses into one group significantly increases risk according to William Hill. Citi Group and Barclays advised William Hill against accepting the offer. The deal requires an estimated amount of £2.2 billion in refinanced debt in order to complete the deal.

The bookmarker’s chairman, Gareth Davis stated that the merger undervalues William Hill. He also said that the proposal does not reflect the true value of the business. The risks likely to be experienced from the three-way combination include integration risks, risks of materially increase leverage and execution risk. He also stated that the group had a very strong team that would foresee the growth of various digital and international businesses. An 888 spokesman accused the bookmaker for making rude remarks after the group stated that they had recognized merger benefits that would increase the proposal up to 408p a share.

William Hill failed to capitalize on an increasing online betting market and they are currently looking for a new Chief Executive. The online business gets about 35% revenues from the bookmarker and has recently been having problems with the functionality and ease of use regarding the use of the website. There has been upheavals in the gambling industry because of increased tax, growing competition and the lucrative fixed-odds betting terminals which is currently on crackdown. This makes the move by Rank and 888 for William Hill among the most recent.  The joined business between Paddy Power and Betfair merging is a FTSE 100 member.

The major question now remains of whether the consortium parties will merger separately or whether Rank and 888 will make a further plea to merge with William Hill.

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Delaware and Pennsylvania gone over their Revenue Records in Online Gambling

Delaware and Pennsylvania gone over their Revenue Records in Online Gambling

Delaware’s revenue amount has been increasing ever since the state legalized online gambling in 2012. As per June this year the state had an increase of 180% in terms of revenue since the revenue generated in that month was $304,874. This is according to reports given a few days ago. All the three state operators have reported increases. They include Dover Downs, Harrington Raceway and casino and Delaware Park. New Jersey posted over $16 million in revenue in June but Delaware is still doing exceptionally well. This is due to the fact that the state is less-densely populated and it has been struggling with online gambling revenue since the beginning.

The revenue amount also has a higher chance of increasing in the future. Pennsylvania also reported increase in revenues in the month of June. The land based casino located in the state made a whooping amount of $3.23 billion making it the highest amount in revenue over the nine years since gambling was legalized in the Keystone state. Slots and table games in Pennsylvania State generated revenue of $3.2 billion which was the highest amount made since there was an increase of over $86 million. This was according to Pennsylvania Gaming Control Board. Table games had a yearly increase of 8% from 2015 which totaled to $839 million.  The total gaming revenue was increased by 3.6%.

$543 million was the highest amount generated by Parx Casino in Philadelphia and the second highest amount was generated by Sheldon Aldelson’s casino and Sands Bethlehem casino that generated an amount totaling to 4533 million. Gambling is soon to be legalized in Pennsylvania due to the great revenue amount generated by gambling. The issue about gambling will be discussed again in the fall after summer season is over.

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Reasons why Legal sports gambling is gaining support

Reasons why Legal sports gambling is gaining support

A New York gambling addict who has lost $5 million including most of his family and friends has come forth to support the legalization and regulation of sports gambling. This comes as a shock to many as they read an article on the Vice World of Sports special that talks on sports betting. Bobby G. who is the sports gambling addict said that sports gambling regulation would be of great help to addicts like him. In the 30-minute show reporters are able to look deep into sports gambling and various profiles with traditional sportsbook gambling found in Las Vegas.

Evan Rosenfeld who is the vice show runner stated that it was possible for him to tell a wagering story without the inclusion of DFS. He has spent over a year filming the show. He added that DFS was just the main part of the story and it was not supposed to take up a big portion of the story. In America sports gambling is being accepted with time. In the coming week, NHL will be having an expansion team play in Las Vegas while Adam Smith who is the NBA commissioner endorsing the legalization of sports gambling. NFL have been adamant about getting associated with gambling even though the Oakland Raiders have shown interest in going to Las Vegas where gambling is legalized.

Hundreds of billions of dollars have been illegally used to gamble in the United States over the years. This is according to Geoff Freeman who is the American Gaming Association President and CEO. He said that the NHL team joining Las Vegas would be a very good thing for Nevada, casino gaming and also for the NHL fans. The AGA has also come forth to support gambling saying that the NFL teams also play in stadiums that are at a short distance from gambling halls that are legalized. Rep. Frank Pallone has also come forth to support fantasy gaming and has said that they can work together with traditional sports gambling.

Various law firms have been working towards legalizing sports betting in New York. A bill is already underway in Albany that will help in legalizing of fantasy sports. A sports bill in Pennsylvania has been uplifted on Wednesday after the House Gaming Oversight Committee passed legislation after one year of studying the bill. Sports’ betting is likely to be more successful in New York because of its huge size. The DFS operators, DraftKings and FanDuel have voluntarily stopped taking bets in New York earlier this year. This was done as an agreement between Attorney General Eric Schneiderman who is against sports betting.

Americans with support from the AGA have been advised on betting despite it being illegal or not. DFS players have been asked to resume playing in case New York akes sports betting legal in New York. In case the law is not passed Schneiderman will have his lawsuit resume in September. The DFS teams will be glad to accept regulation. Most of the people are for making sports gambling legal this is according to Rosenfeld. He was also stunned by the gambling addict who was vying for the gambling laws to be passed.

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Online sports gambling thrives in Canada’s legal ‘grey zone’

Online sports gambling thrives in Canada’s legal ‘grey zone’

Every morning, every online gambler wakes up with the hope they won in one of their sports bets. Life for an online gambler, for example Steve is made up of waking early in the morning and jumping straight to their computers. Life is good for Steve on the days he manages to score some winnings after wagering a few hundred dollars on two NBA games and he wins on both of these games. He won the bets on San Antonio Spurs and the hometown Raptors. He loyally carries out research on every game, both in the morning and in the evening. However, Steve considers all these as normal; to him it is not an addiction but a way of earning extra profit. He also adds that his friends also engage in sports betting.

Funny enough most of these sports betting accounts are not in existence in Canada but are in areas such as Antigua, Gibraltar, the Isle of Man or the United Kingdom. These places are known to entice gamblers who are based in countries where sports betting is illegal, making all these quite suspicious. Since the start of internet gambling sites more than twenty years ago, Canadian authorities have not put any interest in the multi-billion-dollar project thus only allow its operation in secluded areas where it is less likely to take place. Michael Lipton who is a gaming law practitioner with Dickinson Wright in Toronto argues that the reason where sports gambling sites consider Canada as a grey area is the fact that there have been no prosecutions in the area.

The major question remains unanswered as to why the Canadian government ignores online sports betting. Lawyer Chad Finkelstein says that the reason is that the provinces in Canada that practice gambling are mostly grey zone areas and the gaming constitution laws have never been updated since the 1960s. These laws do not ban gambling in those offshore areas and if the Canadian government stopped their operation, the online bookmakers would sue them. Sports betting have also become easy as the online sports betters can deposit and withdraw their funds directly from their homes. These transactions openly happen in very big and recognized Canadian banks. Sports’ betting is even a major contributor of profits to most of these banks.

In Canada players are able to wager up to $4 billion annually though the sports books located in Europe or in other places of the world. This is according to the vice president of the Canadian Gaming Association, Paul Burns.Lipton agrees that sports betting could be a huge contributor of revenues for the Canadian government.

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    Always bet responsibly and never gamble what you cannot afford. Here at sports-bettingsites.com we support responsible gambling. If you think that problem gambling is affecting you and/or those close to you you might want to contact gamcare and if you want to gain greater gamble awareness you can visit gambleaware.co.uk for more information.