Online Casino News From Around the Globe

Stars Group Revenue Increases by 13.6% In 2017

The Stars Group Inc. who run online poker giant PokerStars have recorded a 16.1% growth for Q4 2017 to reach $360.2m. For the full year the figures were up 13.6% to $1.3 billion driven by the growth of their online casino and sportsbook divisions. The sportsbook and online casino vertical made up $112.5m in Q4 which was a 40.3% year-on-year and $384m for the year. The trend of overall revenue increases coming from casino and sportsbook instead of online poker continues to grow and now accounts for as much as 30%. Online poker revenues for the Q4 were $234.4m which is an increase of 7.9% for the prior periods and $877.3 m annually which is a 3.7% increase year-on-year. CEO Rafi Ashkenazi commented on the latest numbers and said,” 2017 marked our evolution and transformation into The Stars Group. We maintained our global dominance in online poker, with the business experiencing year-over-year growth in that vertical. Our online casino has already become one of the largest in the world since its launch in 2014 and our emerging online sportsbook not only recorded meaningful growth in turnover and revenues, but started to become a secondary customer acquisition channel.” He went on to point out the plans for 2018 which include growth initiatives through geographic expansion and “ improving focus and understanding of our customers…

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New Jersey Records Record Online Gaming Revenues In February

Online gaming in New Jersey saw a record breaking month in February despite it been the shortest month in the year. In the latest figures released by the New Jersey Division of Gaming Enforcement it was shown that the online gambling licensees generated $21,992 million for the month of February which is a 17.5% increase year-on-year and  passes the record set in January 2018, The latest $22 million revenues makes it the 12th consecutive month that revenues exceeded the $20m mark. While online casino continues to perform well, online poker revenues fell 18.3% year-on-year to $1,77m. The top performer was the Golden Nugget who posted an impressive $7.88m in online casino revenues which represents a 52.4% year-on-year. The Borgata came in second place with $3.79m and Resorts Digital came into place with $3,77m. Fourth place was the Tropicana who came in with $3.35m followed by Caesars Interactive Entertainment New Jersey with $3,2m. Overall gaming revenues in Atlantic City were still down despite the online growth by 8.9% to…

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Macau Authorities Continue To Monitor Mainland Officials Entering Casinos

The crackdown on corruption in Macau by the Chinese over the last few years has taken many by surprise. If at first many thought it was a temporary measure aimed at placating the critics, it is now clear to all that the policy of changing Macau into a tourist destination that is not solely based on gambling is the reality that gaming companies have to work with. While gaming revenues have been hit had in the last few years, there is a steady increase in revenues in the last 12 months which is ensuring the market stabilizes. One of the main “ victims’ of the crackdown were Chinese public officials who once treated Macau as their personal playground. In the last few years they have been extremely wary of big brother on Mainland China spying on them. This was confirmed recently at the National People’s Congress in Beijing where the Macau legislative Assembly president Ho lat Seng told reporters that any time a government official walked into a casino the Macau authorities “knew right away.” Ho went on to say that some of these officials received a surprise call only seconds after entering a casino. In addition he said the Macau casino’s has “internal methods’ to identify who was a public official and who was not. These “internal methods” are set to the implementation of facial recognition technology which is already in use at Macau ATM’s to ensure anti money laundering by Chinese officials. This latest revelation just reinforces the Chinese officials who have vowed not to go back to the “glory days” of Macau where as much as 57% of top spenders in casinos were public officials or senior managers at state…

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Nearly $10b Will Be Wagered Illegally On March Madness

With the Supreme Court decision in New Jersey pending the issue of illegal sports betting continues to stir debate. It is estimated that over $10 billion will be wagered on March Madness with most of it being illegal and not be taxed in any way. Currently sports betting is only legal in four states: Delaware, Montana, Nevada and Oregon. The opportunity for states to enjoy revenues form sports betting is huge and has already got many individual states looking into legislation. These figures were released by the American Gaming Association who also estimates that around a quarter of the U.S  adult population (54 million) participated in some form of sports betting last year. A lot of this activity is sports betting pools within the office environment which technically is illegal in two thirds of U.S States. CEO of American Gaming Association Geoff Freeman voiced what many believe should be the rationale behind legalizing sports betting on a federal level. He said,” Our current sports betting laws are so out of touch with reality that we’re turning tens of millions of Americans into criminals for the simple act of enjoying college basketball. The failed federal ban on sports betting has created an illegal, unregulated sports betting market that offers zero consumer protections and generates zero revenue for state and tribal governments.” Opponents to the legalization of sports betting like the Council on Compulsive Gambling of New Jersey believe that sports betting will affect the integrity of the games and may put many people at risk for problem…

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FanDuel Looking To Go Public Via Platinum Eagle SPAC

Since the failed merger between DraftKings last year, daily fantasy sports provider FanDuel has been looking for an exit strategy. The latest news is that they are planning a “reverse merger” with a “special purpose acquisition company (SPAC) who are a publicly traded company linked to Hollywood Exec Jeff Sagansky. In a report from Axios FanDuel is in advanced talks to sell a part of themselves to Platinum Eagle Acquisition Group which would be another way of going public. The idea is that special purpose acquisition companies like Platinum Eagle raise money from public investors with the aim of buying companies like FanDuel. FanDuel much like DraftKings have had to pay hefty legal costs in the past few years as many state regulators went after them with the claim that they are nothing more than real money gambling companies and their business model of the last few years was not legal. This resulted in massive legal bills and loss of external funding which was vital for their huge marketing and acquisition campaigns. The amount that Platinum Eagle would spend and acquire on FanDuel is unclear. FanDuel declined to comment on the…

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