Eldorado Resorts finalises William Hill partnership

first_img Eldorado Resorts finalises William Hill partnership Tags: Mobile Online Gambling Race Track and Racino US casino operator Eldorado Resorts has completed its deal to secure a $50m (£38.1m/€43.7m) equity stake in William Hill, and 20% stake in its William Hill US subsidiary, as part of the companies’ 25-year US-focused sports betting partnership.The deal, which was first struck in September 2018, sees William Hill serve as the exclusive sports betting technology partner for all Eldorado Resorts’ land-based properties. The partners are to invest equally in the development of in-venue sportsbooks, as well as developing the infrastructure to support in-casino, online and mobile wagering.William Hill will also be granted the right to operate online sports betting under the first skin to launch via Eldorado’s licence – in markets that require online operators to have a land-based partner – as well as the third skin where applicable.Where regulation permits, it will also have the option to offer online casino and poker under any second skin launched via Eldorado’s licence. The September agreement continues a relationship that was first struck in 2012, and originally saw William Hill US power the casino operators Nevada sportsbooks.In return, Eldorado has been granted a 20% equity stake in the William Hill US business, as well as 13.4m ordinary shares in the operator’s London-listed parent company. Should William Hill US complete an initial public offering, Eldorado will have the right to sell its stake, or convert the stake to William Hill shares or cash after five years.“Extending our long-term relationship with William Hill partners Eldorado with the world’s leading provider of in-casino, mobile and online sports wagering to launch sports wagering across our current platform of 26 properties at such time as legislation is enacted and regulatory approvals are obtained,” Eldorado chief executive Tom Reeg said.“Based on our long-term experience in Reno, we believe that the addition of sports wagering to our entertainment offerings will drive customer visitation and create a new revenue stream at our properties while enhancing our existing gaming and non-gaming revenue.This agreement is complemented by a separate partnership with The Stars Group. This 20-year agreement gives the PokerStars operator the option to launch the second skin for online sports betting and third skins for online casino and poker.In return, Eldorado has received an up-front equity interest in The Stars Group, and will also be granted a percentage of revenue generated through the operator’s igaming operations under its skins.Eldorado, which merged with MTR Gaming Group in September 2013, operates 27 properties across 13 US states, including regulated markets such as Mississippi, Nevada, New Jersey, Pennsylvania and West Virginia.Image: Eldorado Resorts 30th January 2019 | By contenteditor Casino & games Regions: US AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter US casino operator Eldorado Resorts has completed its deal to secure a $50m equity stake in William Hill, and 20% stake in its William Hill US subsidiary, as part of the companies’ 25-year US-focused sports betting partnership. Email Address Topics: Casino & games Sports betting Strategy Tech & innovation Horse racing Subscribe to the iGaming newsletterlast_img read more

iGaming coming to PA in July, online wagering weeks away

first_img iGaming coming to PA in July, online wagering weeks away Casino & games Regions: US Pennsylvania Online gaming will go live in Pennsylvania from July 15, while the state’s first online sports betting offering set to launch within three weeks, the state’s Gaming Control Board (PGCB) has revealed. Online gaming will go live in Pennsylvania from July 15, while the state’s first online sports betting offering set to launch within three weeks, the state’s Gaming Control Board (PGCB) has revealed.The start date for online gaming was confirmed by executive director Kevin O’Toole at a PGCB held yesterday (March 17). O’Toole said that the date had been set after the regulator’s staff had reviewed the estimated time required for the PGCB and operators to complete all necessary pre-launch requirements, and decided that 90 days would be sufficient.The state’s 10 igaming certificate holders and three online gaming operators have therefore been informed that a coordinated roll-out will begin from July 15.The launch will bring online poker, slots and table games to Pennsylvania, with seven casinos licensed to offer all three products, and ten approved to offer slots and table games. A licence for each product costs $4m (£3.1m/€3.6m), though those that applied for all three pay a discounted rate of $10m. Only two of the state’s 13 casinos have not applied for licences. Pennsylvania is also just weeks away from launching online wagering, with one of the approved casino operators expected to begin live testing in the next two to three weeks, according to a PGCB spokesperson.At this stage, it is unknown which operator is closing in on its online launch, and whether any of the other seven operators that have launched retail wagering are in a position to follow.The state’s retail wagering market posted its strongest month to date in March, with revenue up 183.5% month-on-month to $5.5m (£4.2m/€4.9m), and handle up 41% to $44.5m. Eight operators have launched to date, with Boyd Gaming’s Valley Forge Casino in King of Prussia (on March 13) and Greenwood Gaming’s Valley Forge Race & Sportsbook (on March 14) the latest. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance Sports betting Poker Slots Table games Tags: Card Rooms and Poker Mobile Online Gambling Slot Machines 18th April 2019 | By contenteditor Email Addresslast_img read more

Blueprint hands new corporate accounts role to Wallbank

first_img8th August 2019 | By contenteditor UK-based games studio Blueprint Gaming has appointed Nicola Wallbank to the newly created role of head of corporate accounts.In her new role, Wallbank will report directly to managing director David Purvis and assume responsibility for a team of customers and account managers.Wallbank has been with Blueprint, a division of the Gauselmann Group, since October 2016, joining the studio as content test manager before going on to serve as key account manager.Prior to her time with Blueprint, Wallbank spent seven years with the Regal Gaming and Leisure Group, serving in senior positions such as account manager for the business and also operations manager for its Kellyseye.com arm.“I am delighted with my appointment and am looking forward to further developing Blueprint’s customer relationships,” Wallbank said. “It’s an exciting time to be part of Gauselmann’s UK team and I am fully committed to providing customer excellence in everything we do across the AGC, bingo and pub sectors.”MD Purvis added: “We are pleased to have been able to promote from within the Blueprint business. Nicola has the necessary experience to enhance our customer relationships and make a significant contribution to our growth plans.“Nicola has a detailed knowledge of the gaming industry and is passionate about delivering a service excellence. I am confident that our customers will benefit enormously from her personal drive and positive approach to our business.”The appointment comes after Blueprint in June also named Andy Mace, formerly head of casino at Bet365, as its new director of accounts. Blueprint hands new corporate accounts role to Wallbank AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games People Strategy Casino & gamescenter_img Tags: Online Gambling OTB and Betting Shops UK-based games studio Blueprint Gaming has appointed Nicola Wallbank to the newly created role of head of corporate accounts. Subscribe to the iGaming newsletter Email Addresslast_img read more

PointsBet posts $32.3m loss despite revenue growth in H1

first_img Subscribe to the iGaming newsletter PointsBet posts $32.3m loss despite revenue growth in H1 Sports betting operator PointsBet said that increased spending on expansion efforts in both Australia and the US led to it reporting a net loss of AUD$32.3m (£16.4m/€19.5m/US$21.2m) for the first half of its financial year.Net revenue for the six months to December 31, 2019 amounted to AUD$27.4m, up from $12.1m in the corresponding period in 2018.Australia remains PointsBet’s core market, with revenue in the country rising by 105.0% to $24.8m during the period, while turnover was also up by 66.6% to $349.2m.The operator put these increases partly down to growth in its Australian customer base, with 81,014 registered players by December 31, a 76.8% rise. PointsBet also highlighted its ongoing focus on client retention, as well as the introduction of new products and updates to its offering.In terms of the US, net revenue for the first half came in at $2.6m, as PointsBet said its New Jersey business progressed from the launch phase to the execution stage. In addition, PointsBet was boosted by launching retail and digital services in the state of Iowa during the half.Read the full story on iGB North America. 26th February 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting operator PointsBet said that increased spending on expansion efforts in both Australia and the US led to it reporting a net loss of AUD$32.3m (£16.4m/€19.5m/US$21.2m) for the first half of its financial year.center_img Topics: Finance Sports betting Finance Regions: Oceania US Australia Email Addresslast_img read more

Report: POGOs “highly vulnerable” to money laundering

first_img The Phillippine Anti-Money Laundering Council (AMLC) has issued a report claiming that Philippine Offshore Gaming Operators (POGOs) and their service providers are “highly vulnerable” to money laundering.The AMLC listed a range of factors that contributed to the weakness. These factors include a high level of cash-based transactions; weak or deficient anti-money laundering (AML) regulations and a high level of anonymity for customers and operators.The AMLC said that the high amount of cash and cheque transactions involving POGOs were of particular concern. These transactions are difficult to trace, making them especially convenient for money launderers.“Transactions of internet-based casinos and [service providers] reveal a significant level of use of cash, which is susceptible to money laundering, considering that the ultimate source and the beneficiary of the funds are difficult to determine,” the report said. “Also, cash-based transactions tend to obscure the audit trail. There is also a high level of use of cheque-related transactions.“Cash- and cheque-based transactions are considered unusual as these deviate from the business framework operations of internet-based casinos.”The AMLC said that, upon attempting to conduct on-site compliance checks for 59 POGOs, it was discovered that the registered office addresses of the companies, their local gaming agents and authorised representatives given to the country’s regulator, the Philippines Amusement and Gaming Corporation (PAGCOR) were in fact false. No compliance officer for any of the 59 could be located or contacted, while none had teams dedicated to preventing money laundering and the financing of terrorism.The report added that, while there was concern over money laundering involving POGOs, the greater threat involved their service providers, which are not subject to the same AML regulations as POGOs. However, added, enforcement of AML regulations covering POGOs is often low because of “jurisdictional issues.”The AMLC said that many of these service providers were flagged for “highly substantial forex transactions” and further verification is needed to determine if this is related to gambling, or to criminal activity.The sector’s vunerability to terrorism financing, however, was “generally low”, it noted. There was little concrete evidence that internet casinos were used to generate or launder terrorist funds, based on available records.The report recommended that casino regulators in the Philippines should issue AML compliance guidelines for Internet-based casinos, as well as providing training programmes for POGOs and their service providers. To raise public awareness of potential money laundering practices and tactics, it continued, the Philippines should publish a list of indiciators for citizens to watch out for.In addition, the report recommended that violations of AML rules should warrant the cancellation of gambling licenses.Last month, The Philippine Amusement and Gaming Corporation (PAGCOR) has reported an 11.7% year-on-year increase in gaming revenue for 2019, resulting in its total tax and corporate social responsibility contribution for the year rising above PHP56bn for the year.Throughout 2019, the Philippines pressure from China to limit or ban online gambling, following PAGCOR’s decision to impose a temporary halt on the issuing of new Philippines Offshore Gaming Operator (POGO) licences in August 2019.However, this appears unlikely to be expanded into a full prohibition on igaming, with President Rodrigo Duterte saying that POGOs were an important source of jobs and tax for the country. Duterte has since repeated this in 2020, amid growing public and political anger over corruption and criminality in the country’s gambling industry.China looks set to continue its efforts to crack down on igaming in 2020, warning in January that it would target countries from which operators targeting players in the country are based and suggesting in March that a blacklist for unlicenced gambling sites could be on its way. Tags: Online Gambling Payments AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Report: POGOs “highly vulnerable” to money laundering 11th March 2020 | By Daniel O’Boyle The Phillippine Anti-Money Laundering Council (AMLC) has issued a report claiming that Philippine Offshore Gaming Operators (POGOs) and their service providers are “highly vulnerable” to money laundering. Regions: Asia Philippines Casino & games Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance Email Addresslast_img read more

Rhode Island betting revenue down 45.6% in March

first_imgCasino & games Rhode Island betting revenue down 45.6% in March The Rhode Island Lottery has reported a 45.6% year-on-year decline in sports betting revenue for March, following the suspension of sporting action and closure of the state’s casinos during the month.Revenue declined to $841,767, which in turn represented a 63.8% drop from the $2.3m reported for February. Amounts wagered across casinos and via mobile fell 62.1% year-over-year to $8.9m.This followed all major US sports, including the National Collegiate Athletics Association Men’s Division I Basketball Tournament, known as March Madness, being postponed or cancelled from March 11 as a result of the novel coronavirus (Covid-19) pandemic.Rhode Island’s Twin River casinos in Lincoln and Tiverton also closed their doors from March 14.Despite the land-based venues closing and amounts wagered in each falling sharply, Twin River Lincoln still accounted for the bulk of monthly handle. In total, $4.5m was wagered at the property, or 49.8% of total stakes placed in the state for March.This, however, represented a 76.9% drop from the prior year. Revenue from the property was down 61.3% to $441,355.Read the full story on iGB North America. Tags: Mobile The Rhode Island Lottery has reported a 45.6% year-on-year decline in sports betting revenue for March, following the suspension of sporting action and closure of the state’s casinos during the month. Subscribe to the iGaming newsletter 28th April 2020 | By contenteditor Topics: Casino & games Sports betting Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Rhode Islandlast_img read more

Esports Entertainment hands IR role to Cohen

first_img Tags: Video Gaming Esports betting operator Esports Entertainment Group has appointed Jeff Cohen as its new vice president strategic planning and investor relations. Subscribe to the iGaming newsletter 28th July 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Esports betting operator Esports Entertainment Group has appointed Jeff Cohen as its new vice president strategic planning and investor relations.Cohen joins the operator having previously served an equity analyst, covering gaming and esports for Wall Street investment bank and asset manager Stephens Inc.Prior to joining Stephens in 2017, Cohen spent time as an analyst in the Equity Special Situations Group at Barclays.“I am excited to join the Esports Entertainment team and look forward to providing value as we work to capitalise on multiple opportunities in the rapidly evolving global esports market,” Cohen said.Esports Entertainment chief executive Grant Johnson added: “Jeff has been a leading analyst in the gaming and esports arena, and his wealth of knowledge and relationships with major buyside players are great assets for us as we continue to execute on our growth strategy.”The appointment comes after the operator this month revealed that it will close its acquisition of online betting and gaming operator Argyll Entertainment by the end of July, after finalising a definitive agreement for the acquisition.Esports Entertainment also this month entered a partnership with independent capital markets advisor Akur Capital to help it identify further M&A targets.center_img Topics: Casino & games Esports People Sports betting Strategy Video gaming Casino & games Esports Entertainment hands IR role to Cohen Email Addresslast_img read more

DraftKings hands top accounting role to Bradbury

first_imgDFS Topics: Finance People Sports betting Strategy DFS 11th September 2020 | By contenteditor Tags: Fantasy Sports Online Gambling Sports betting and daily fantasy sports operator DraftKings has appointed Erik Bradbury as its new chief accounting officer with immediate effect. DraftKings hands top accounting role to Bradburycenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Sports betting and daily fantasy sports operator DraftKings has appointed Erik Bradbury as its new chief accounting officer with immediate effect.Reporting directly to chief financial officer Jason Park, Bradbury will oversee the operator’s corporate accounting functions, such as Securities and Exchange Commission (SEC) and regulatory reporting, operational accounting, accounting policy, and development of relevant accounting positions.Bradbury takes on the role having served as a partner at Ernst and Young since July 2017, acting as lead partner for the firm’s largest global clients.He worked for EY between 2008 and 2015, holding a number of positions including manager and senior manager of certain services.Bradbury then spent two years away from Ernst and Young between September 2015 and August 2017, working as a professional accounting fellow at independent financial services resource Financial Executive International.Read the full stoy on iGB North America. Email Addresslast_img read more

IBIA sees suspicious betting reports increase in Q3

first_img Subscribe to the iGaming newsletter Email Address IBIA sees suspicious betting reports increase in Q3 North America had 12 cases of suspicious betting, all of which were for tennis in the US, while South America had a single football betting report in Brazil. The IBIA did not record any reports from Australasia or Africa in Q3. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “IBIA’s figures also reflect a growing membership – we have announced four new members so far this year and further announcements are imminent – which in turn increases the association’s global betting market monitoring coverage. For the year to date, the IBIA has recorded a total of 195 suspicious betting alerts on sports from around the world. Football and tennis each generated 25 reports, together accounting for 66% of all cases recorded during the third quarter. Regions: Asia Europe A total of 76 alerts were registered in the three months to 30 September, up from 50 in the same period last year and 31% more than in the second quarter of 2020. “IBIA will continue to work closely with key stakeholders on betting integrity issues and also in related areas such sports data collation and customer dispute resolution.” Europe remained the primary area of concern for the IBIA with 34 of all reports in Q3 coming from the continent, 13 of which were for tennis, 11 for football, seven for table tennis, bowls with two and one for cricket. 4th November 2020 | By Robert Fletcher Tags: Sports Betting IBIA Asia saw 15 reports in Q3, with 13 in relation to football and two for basketball. Turkey and Vietnam saw four cases each in the quarter, all of which were for suspicious football betting. Some 14 reports were filed in relation to suspicious betting on esports, as well as seven for table tennis, two each for basketball and bowls, and a single report for cricket. Topics: Sports betting The International Betting Integrity Association (IBIA) has reported a 52% year-on-year increase in suspicious betting alerts in the third quarter, with football and tennis accounting for two thirds of cases in the period. The highest number of cases were in Russia, with the country responsible for six reports in Q3, ahead of the Ukraine and Germany on four each. Sports betting IBIA secretary general Khalid Ali said the increase in reports had been expected, given the resumption of many sports events after the novel coronavirus (Covid-19) lockdown that saw fixtures during the first two quarters of 2020 cancelled.last_img read more

Veikkaus shutters retail gaming outlets amid Covid-19 surge

first_imgSlots In the past week new case numbers rose by 906 to 2,541 across the country, corresponding to a two-week incidence rate of 75.8 cases per 100,000 citizens, up from 30 in the previous week. Veikkaus shutters retail gaming outlets amid Covid-19 surge This has prompted Veikkaus to begin closing its retail outlets in the 12 regions, which it expects to finalise by Saturday.  It follows the operator’s earlier shut-down of all land-based gaming from 13 March in the first wave of the pandemic.  Finland’s gambling monopoly Veikkaus has begun closing its gaming arcades and shutting off slot machines in regions of the country facing rising numbers of novel coronavirus (Covid-19) cases. Heino added that Veikkaus would listen to the specialists to continuously evaluate the situation and make future decisions based on the science. Covid-19 disruption will ultimately reduce the operator’s full-year profits by as much as €300m, Veikkaus said in August. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casinos did not reopen until 26 June, with its land-based slots going back online from 15 July, though this was accompanied by accelerated efforts to reduce the size of its network. Having originally planned to take 3,500 machines offline, it will now take 8,000 slots out of commission by the end of 2020. Subscribe to the iGaming newsletter The operator began to take action yesterday (26 November), after the Finnish Ministry of Social Affairs and Health warned of a “worrying” rise in new cases and hospital admissions, especially around the capital Helsinki.  “We have followed the development of the coronavirus situation and acted according to the official guidelines,” the operator’s senior vice president of channels and sales Jari Heino said. “We made the decision on the closure today quickly after the Ministry of Social Affairs and Health published their guidelines. “No-one knows yet what the situation will look like in three weeks. We are sure that all efforts will be made in society to suppress the second wave of this disease.” In addition, a pilot programme for account-based play, which will require players to register before they can access the slot machines, was expanded earlier this month to more regions, having initially only launched the feature on 100 machines. It has therefore recommended regional authorities close all high-risk public spaces in regions where case numbers were rising rapidly.  Tags: Covid-19 Veikkaus The broader Helsinki region will also ban all public meetings, and shift all school pupils and students aged 15 years old and above to remote learning. The operator has also reduced its maximum weekly loss limit for online lotteries, slots, bingo and table games from €2,000 to €500 during the pandemic. This was originally due to expire on 1 October, but was then extended to the end of the year. 27th November 2020 | By Robin Harrison Topics: Casino & games Legal & compliance Land-based casino Slots Compliance Regions: Nordics Finland Email Addresslast_img read more