Posts Tagged ‘gambling online’

Online Gambling – Risk or Gain for Tribal Casinos?

Wednesday, March 10th, 2010

There is a possibility of internet poker to be legalized in the US. And it’s becoming a serious issue to some of the tribal leaders. They doubt that it will have an impact on the revenue from tribal government casinos.

After the Morongo Band of Mission Indians has proposed an intrastate Internet poker site in joint venture with Los Angeles area card clubs, the debate is hovering in the air of California. California tribes create an amount of $7.3 billion casino revenue in a year.

As Rep. Barney Frank, D-Mass., is supporting federal legislation authorizing, controlling and taxing Internet poker; Morongo’s proposal has gained motion. Frank’s bill is one of three legislations in Congress that would authorize online gambling while the other two include the Bipartisan Tax Fairness and Simplification Act sponsored by Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H.

Robert Smith, the Chairman of the Pala Band of Mission Indians and one of the Directors of the California Tribal Business Alliance, has also supported the fact that online card game betting would take business away from real casinos. To him the Morongo proposal is “a Trojan horse for the wholesale expansion of non-Indian, off-reservation gambling”.

The Tribal Alliance of Sovereign Indian Nations, comprising 14 most successful gaming tribes of southern California, is against the federal legislation. Tribal Chief Miko Beasley Denson of the Mississippi Band of Choctaw Indians and the United South and Eastern Tribes has also requested Congress to revise the issue.

The ongoing federal law does not ban intrastate online gambling. But it is more profitable to create interstate, online player-banked poker sites in states like California. States which have less number of people are not able to generate a considerable amount of betting pool. It is not possible to support intrastate Internet gaming system for states like Connecticut and Mississippi.

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Online Gambling Gaining Despite of UIGEA

Monday, March 8th, 2010

US Congress had introduced Unlawful Internet Gambling Enforcement Act (UIGEA) in the year 2006. It declared any kind of transaction related to online gambling as illegal. UIGEA never regarded online casino gambling as illegal. However, the underlying assumption is very clear. After this Act was introduced in the US Congress, many online casinos operating from US stopped operation. Moreover, most online casinos stopped accepting US players. Many thought that online casino gambling market has come to the verge of end. But reality is showing something different.

Industry analysts say that this draconian law is meant to support land based casinos over online casinos. Federal government is tilting the round in favor of land based gambling.

What does the new survey reveal?

According to a new survey, it has been found out that the total number of people visiting land based casinos is declining at a continuous rate. However, the total number of players in the online casinos are increasing at a very fast pace. This increasing figure of players in online casinos has come up inspite of the fact that Federal government is consistently trying to block online casinos from the reach of US players through UIGEA (in a covert manner).

The report published by Mintel International Group has said that the total percentage of US players visiting land based casinos decreased from 35% to 30% during 2001 to 2009.

Despite of UIGEA, it has been found out by Mintel International Group that 12% of total number of US adult players have played online gambling in several online casinos.

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Online gambling regulated in Florida

Thursday, March 4th, 2010

According to rumor mills US is finally taking gradual steps in uplifting the ban on online gambling or rather regulating online gambling. Among the many states Florida is probably thought to be one of the first states to regulate gambling online. Representative Joseph Abruzzo has registered the Internet Poker Consumer Protection and Revenue Generation Act of 2010 on Friday.

The legislation defined about online gambling and the fully regulated system related to it. In case the petition is approved by the Florida state lawmakers Florida will probably turn out to be the first state to utilize rules from Unlawful Internet Gambling Enforcement Act of 2006. In 2006 UIGEA was enforced to get rid of online gambling in the country, however, in the ensuing years the industry showed a major expansion. However, UIGEA allows intrastate Internet gambling when related to gambling. The legislation filed by Abruzzo took advantage of this clause.

The Bill if approved will allow online gambling hubs to operate online poker sites however by following the strict guidelines. Again the operators must buy a business license in Florida, and also obtain license from one or more states in US. The license must include the permission to offer poker games online outside the state of US.

The minimum age for gambling would be 21 and special safety will be taken to secure players from money laundering. The software used by online poker must be insured and safe. Further licensing of online gambling operators will assure safety against any possible fraud. Once the bill is passed special rules will be issued to set an upper limit to the amount of deposits a player can keep in one day. This will help to reduce gambling addiction.

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CryptoLogic’s Financial Report for 2009

Tuesday, March 2nd, 2010

CryptoLogic, the most well-known global developer of online gambling games and software, has declared its financial report for the year 2009.

Highlights of 2009 financial report

  • The revenue, which was $61.5 million in 2008, is reduced to $39.8 million. The probable causes are lower betting activity, unfavorable currency factors and a diminished payment from a major licensee
  • Net loss of $35.5 million in comparison to $32.7 million of 2008
  • Total annual recurring cost (Consisting of operating, general, administrative, finance and pay back expenditure) is decreased by $20.6 million to $55.0 million
  • Unification of poker network with that of GTECH Corporation in order to reduce cost
  • Revenue for branded games which was $0.3 million in 2008, is raised to $2.8 million
  • Entire licensee base has been increased by 20 along with more than 30 top online gambling operators
  • Contract with DC Comics to develop games on Batman, Superman and Wonder Woman and with Paramount Digital Entertainment for movie-based games
  • Reduced rate of loss per share of $2.78 (which was $2.55 in 2008)
  • Total dividend declared for the year is $1.4 million ($5.4 in 2008)

In addition to them, 4th quarter of 2009 saw

  • Branded games revenue increased to $1.2 million
  • Number of branded games is doubled (66 from 33 of 3rd quarter)
  • Deal with virtual casino lobby to improve revenue
  • Relocation of Cyprus office to Malta in order to make more efficient operation
  • Contract with BetClic, Rank Interactive and UniBet
  • Launched games on Batman, Wonder Woman, Monkeys to Mars, Triple Action Hold’em and Aces and Faces

According to the words of Brian Hadfield, the President and CEO of the organization, 2009 was a tough year for CryptoLogic. They have come into 2010 and in this present year, their focus will be on

  • Reducing expenditure
  • Giving impetus to branded games
  • Increasing revenue
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Marvel Superhero Action Figures Becoming Popular In Online Casino

Sunday, February 28th, 2010

The concept of superhero has come into the world of online casino.  Now you can spot the Marvel Superhero action figures not only in the comic books or video games, they are available in the online casino games as well. They are mainly used in the slots machines to make it even more thrilling.

Previously we were accustomed to see the Marvel Superhero action figures in the famous comic books like Hulk and Iron Man. But in recent times, they have been introduced in cinemas and computer games.

At the moment, online casinos are looking for unique ways to draw players and by this, they have hit the jackpot. Online slots, by using top superhero figures, have moved to the next level. Some of the well-known casinos have put in new Marvel Comics superheroes to their range of casino slots and some of them include Blade, Daredevil, Elektra, Fantastic Four, and X-Men.

Superhero action figures have always been a popular choice for casino players. It gives them an opportunity to revive the charm of their childhood Marvel comics. The appearances of Marvel Superhero action characters have turned out to be a real achievement. As gaming software started combining the Marvel superheroes with their online casino games, they have come towards adult audience.

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Bypassing Online Gambling Laws – Iowa Lawmakers Making Way

Monday, February 22nd, 2010
online gambling

online gambling

The lawmakers of the state of Iowa, United States of America, are discussing among themselves about legalizing sports gambling. Not only this, they are are discussing about making online gamblng legal. In fact, many other states are also contemplating the idea of legalizing online casino gambling. But these states are not able to legalize online gambling due to a restrictive Act of 2006, called Unlawful Internet Gambling Enforcement Act or more generally UIGEA.

According to UIGEA, online gambling in internet casinos is not illegal but transaction of money related to online gambling are. Freedom loving people of America has not taken this Act with ease. Rather they consider this as a restrictive Act which hinders their freedom of choice. One of the well known Democrat Representative of the US Congress, Barney Frank, has raised his voice agaist it and is on the mission of repealing it. In fact, a six month breather has also been given on implementation of the Act as a Law.

Facts show that there are 17 casinos in the state of Iowa which makes them a gambling state. Now, if online gambling is not allowed then it defies justification because land-based casinos are already functional in the state. In the same land two types of laws are not at all good. On one hand, land based casinos are in full bloom but on the other hand online gambling is restricted through UIGEA.

That’s why the lawmakers of Iowa are trying to find out a way to bypass UIGEA and allow gambling online. Lawmakers are trying to find a way where the transactions of online gambling through financial institutions can be bypassed.

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Casinomeister’s Annual Awards for 2009

Tuesday, February 9th, 2010
Online Casino

Online Casino

Bryan Bailey, the owner of the Casinomeister, the famous online gambling information portal, declared the awards for the year 2009. The Microgaming powered 32Red Casino, for maintaining the quality since its launch in 2002, had been announced as the Casino of the Decade. As they have ushered into the second decade, they offered this special honor. The Casinomeister awards are unquestionably unique as they not only declare awards for the best; they also condemn the worst.

Club World Casinos took double awards- ‘Best Casino of 2009’ and ‘Best Casino Group’. Bailey told that the group was handled by a “clued-in crew” and they had provided excellent customer service and operations every time on top of their game. The ‘Best New Casino’ award went to All Star Slots, which had been changed to Realtime Gaming from Wizard Gaming early in 2009.

Wager Works received the award of “Best Casino Software Supplier” for the year. They have brought in games like Dungeons and Dragons, Rainbow Riches, Transformers which are well-known to the land based players. Bailey also informed that the software had been supported by publicly traded and US based International Gaming Technology.

On the other side, Top Gaming software got the ‘award’ for the ‘Worst Blundering Screwup of 2009’. They had a software problem that was only perceived by the players. Some of the other awards in this category include ‘Worst Casino’, ‘Worst Player Experience’, ‘Biggest Disappointment of 2009’, ‘Stupid Casino Tricks’, ‘Evil Player Award’ along with the ‘Head in the Sand’ which, in 2008, was given to US politicians for their stubborn stand against online gambling.

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Consolidation of Online Gambling Titans

Tuesday, February 2nd, 2010

The long awaiting merger of PartyGaming has taken a step further, after the rumour mills confirmed about the consolidation with Bwin, the Austrian rival.

According to a leisure analyst Geetanjali Sharma, the merger talks are now an open secret as almost everyone in the industry is acquainted with it. According to her, the merger will give the online gambling industry a giant, having the extra muscle to offer the requisite excitement to the enthusiasts. Again, since the US government is likely to repeal the ban imposed earlier, the merger will bring in good news.

Besides, Scientific Games, the US lottery infrastructure provider, has further signed a recent strategic alliance with Playtech. Thus, as per Ms Sharma more consolidation among the titans of the online gambling industry can be witnessed in the coming times. The winter season, moreover, is touted as the best trading season online casino, thus a few more deals are no surprise at all.

After the 2009 low period in Europe, the online casino industry is now on a stable level since October. The harsh weather conditions have forced clients to stay indoors, thus proving a beneficiary for online gambling. More and more customers interested in testing their luck in gambling are now taking their chance at online casinos.

However, as Ms Sharma stated, the condition of Ladbrokes is still under question as the company is running short of the requisite cash in order to fix up outright deals. The chief executive of Ladbrokes Chris Bell has decided to step down and as per experts the departure of executive too will not fix things.

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USD224,000 Win in RTG Video Slot Real Series

Wednesday, October 7th, 2009

One of the very lucky players named Michael D has hit the jackpot of USD224,000 in a video slot machine of SlotsOfVegas casino. Michael has been playing in the casino with the nickname “MADMAN”. It was during his play of the RTG game – Prince of Sherwood – that he won a massive sum of money amounting to USD224,000.

RTG Video Slots

Most interesting and inspiring is the fact that “MADMAN” had started his play with a sum of USD50 only. He went up the ladder by accumulating progressives and ultimately went on to win a massive quarter of a million. Another notable fact is that Michael won this huge amount in a very short period of time of 1 hour only. According to Ralph Biggers, the customer care manager of SlotsOfVegas casino, he had seen many big wins in his casino life but has never witnessed a win of such a big money in such a short period of time. He also said that starting with a mere sum of USD50 and reaching USD224,000 within 1 hour is phenomenal in itself. Ralph has jokingly remarked that “MADMAN” had really played by his true name and has followed his true instinct for such a phenomenal win.

Michael D has been gambling for a long period of time and prior to this win, the maximum amount of money that he had ever won was USD4,500 in the New York Hotel casino of Las Vegas. Winning of such a great amount has left him mesmerized and is waiting for the check for coming to terms with reality.

Representative of SlotsofVegas casino, Mr. Christopher DiAngelo, has confirmed the fact that month of September 2009 has seen a phenomenal increase in the total number of big winners in their casino. He is upbeat about the fact that increase in the numbers of big wins is the sign of the expanding satisfied customer base of SlotsOfVegas casino.

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Wynn Macau IPO Raises Hope Among Casinos and Investors

Thursday, October 1st, 2009

IPO floated by Wynn Macau has received unexpected response from investors. It has raised an unexpectedly huge sum of USD1.6billion in Hong Kong. This fact should be mentioned that this amount of response has made it the 4th largest IPO offer of 2009, till date. Financial analysts have also pointed out the fact that Wynn Macau Limited had priced the share at the high-end of the range of indicative price . This move of the Hong Kong based casino reflects the changing economic environment of Macau. The economy is coming out of the recessionary phase.
Wynn Macau Casino
In the recent past it has been witnessed that new casino stocks had faired poorly in the secondary market once they were listed in the stock exchanges through IPO offer. Thus, the high-end pricing of the Wynn Macau stocks are considered by many as a bold step. But many are also looking at this move as an indication towards improving economic health of Macau, Hong Kong.

High-pricing of Wynn stock is also expected to have positive repercussion effects on other casino stocks trading in the stock exchanges. Some of these exchange traded casino stocks are Las Vegas Sands Corporation, SJM Holdings Limited and Galaxy Entertainment Group Limited. Stock prices at the end of the trading day of 30.09.09 stands at:

Wynn Resorts Limited – 70.89
Las Vegas Sands Corporation – 16.84
SJM Holdings Limited – 4.20
Galaxy Entertainment Group Limited – 3.42

At initial stage the indicative range of the WYNN IPO was set at HKD8.52 to HKD10.08. In terms of Hong Kong Dollars, Wynn Macau Limited had sold new stocks at the rate of HKD10.08 (equivalent to USD1.30) per stock. The total number of stocks sold by the Wynn Resorts amounted to 1.25billion, which is 25% of the total stake of the Las Vegas based Casino. Remaining 75% of the stocks will be retained by Wynn Resorts itself.

Wynn Macau Limited stocks will be available for trading in Hong Kong Stock Exchange from 9th October 2009.

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