Online Casino News From Around the Globe

Macau Reports Increase In Global Tourists Amidst Falling Gambling Revenues

The last two years have seen the largest gambling hub in the world Macau take a huge loss in revenues due to the crackdown on corruption by Chinese president Xi in the former Portuguese colony. What was once the undisputed Las Vegas of the East has had to adapt to a shift of focus to a more tourist like destination and not rely solely on revenues for heavy VIP gamblers from the Chinese Mainland as it had done in the past. The last few months have seen a recovery for casino industry with revenues starting to increase and stabilize. In addition tourism is up with the number of international visitors increasing 8 percent in 2016 from 2015. Global tourists are being attracted to Macau by massive resorts like Sands’ Venetian and Wynn Macau which were recently opened. As of now 90 percent of tourists to Macau is still made up from China, Taiwan and Hong Kong but anyone visiting Macau will have noticed the increase in other nationalities. The focus on attracting tourists other than those of the mainland is a priority for authorities. Head of Macau Civic Power Agnes Lam said, “I think the increase of foreign tourists is very important to Macau and will actually make the tourist industry here become more healthy.” Macau is now having to compete with other Asian casino hubs like Singapore and the Philippines. The fact that Japan is also legalizing casino resorts is very likely and is expected to rival Macau as one of the largest gaming hubs in the…

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Florida Lottery Tickets Could Come With Warning Label In the Near Future

The debate as to whether lottery tickets are any different from gambling at a casino is still undecided. Anyone with knowledge of how lotteries operate will know that the chances of a payout are much less than that of any slot machine in a casino where the return-to-player (RTP) is fixed and normally is above 90%. The justification often used by lottery operators is that the funds generated are funneled into good causes such as education, health and other community projects whereas in gambling the proceeds are entirely for commercial gain in most cases. In Florida a House Panel has voted yesterday for a bill that would require all lottery tickets to say “Warning: Gambling can be addictive.” Rep. Jennifer Sullivan is sponsoring the bill said that she believes government sanctioned activity should come with the same type of warnings found on cigarettes and alcohol. Florida like many states has a huge lottery player base with over 13,000 location spread around the state with prices for lottery tickets ranging from $1 to $25. Whether or not the bill will pass is unclear but once again raises the question of how close to casino gambling lotteries really are. Many are quick to point out the hypocrisy of those who differentiate between state sanctioned lottery games which are also games of chance just like those on your local…

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Ladbrokes CEO Defends FOBTs Ahead of Pending Government Review

Uncertainty and speculation is exactly what the markets do not like to see and the Ladbrokes Coral Group are feeling this. Despite reporting a rise in annual operating profits by 22 percent, the speculation surrounding a seemingly impending crackdown by the government on fixed odds betting terminals sent their share price down today by 1.7 percent to 133p. The mega gambling powerhouse created by last year’s merger reported an impressive operating profit rise to £264 million which were boosted by digital growth and increases in their European retail businesses. The main thereat to the FOBTs is the proposed maximum stake change which could be brought down from £100 to £2. Ladbrokes CEO Jim Mullen was adamant once again that the stake issue is not what is causing gambling addiction proves. He told Reuters,” The review was a call for evidence and we have provided evidence which suggests that the stakes are not the principal cause for problems in gambling. If that is the case, we are hoping that there would be a positive outcome for us,” One of the benefits for of a possible crackdown on FOBTs according to Fitch Ratings would be an increase in online channels. For now the uncertainty of what will happen is weighing on the companies as if there were to be a serious crackdown this vital source of revenues would be drastically…

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Bitcoin Recovers After Falling To Two-Month Low

The volatility of Bitcoin is what makes it that appealing to speculators and even gamblers. There are few commodities that can change their value so drastically in such a short space of time. This has been noticeable in the last few weeks where Bitcoin fell below $1000 between Friday trading and Monday afternoon. This was off the all-time record of $1,325 only a few weeks ago. Reasons for the price fluctuations include the recent Chinese crackdown on Bitcoin exchanges which were forced to suspend activities. Another factor is the debate within the bitcoin community as to which technology to use. If the bitcoin network undergoes a hard fork it could potentially split into two separate blockchains which would possibly deter tech – savvy investors. Basically one group within the bitcoin community wants to build a platform called Bitcoin Unlimited which would not restrict the size of blocks for processing transactions. On the other side another group want to maintain the original version called Bitcoin Core. Until the infighting settles down investors are more likely to sell their bitcoin. This can be seen from data from Bitfinex who said around 5 percent of total coins had been sold in the last 30…

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DraftKings Continue Global Expansion With Germany Launch

Daily Fantasy Sports operator DraftKings has launched its operation in Germany. As we have reported extensively in the last 12 months, the turmoil of the DFS industry has seemingly calmed down as there is the overall understanding that both FanDuel and DraftKings will work in regulated markets and where necessary by local state laws in the U.S. As part of their expansion plans DraftKings have already launched in the UK and with their Germany launch plan to broaden their player base and diversify their revenue stream. It is clear to all that relying only on the volatile U.S  market is a recipe for uncertainty. According to Yahoo Finance DraftKings have debuted their beta version of their German site. On offer are the same portfolio of games from the U.S. market which include football, golf and four of the major sports leagues. The German DFS market is estimated to be around 4-5 million players. As part of their efforts to present a squeaky clean image, DraftKings received a controlled skill games’ license from the Malta Gaming Authority which they plan to use for their EU expansion…

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