Latest Results and New Playtech Partnerships in 2012
January 26, 2012
Playtech has made a number of announcements recently, and along with fourth quarter results and full year results for 2011 which saw the group’s gross income rise by 41% to €243.6 million, the group also announced new partnership agreements which have been reached in online gambling markets that look set to open up shortly.
New partnerships have been forged in a number of markets including Germany wherein Playtech as entered into a 49.99% joint venture with the well-known land based gambling operator Gauselmann, who also owns the Merkur casino brand. This partnership looks set to offer numerous gambling products and services as well as sports betting, depending ultimately on what German gaming legalization will include.
South Africa is also a market where government is currently considering the legalization of online gambling and Playtech has strategically embarked on a 50% partnership deal with the illustrious Peermont Global, casino and resort operator which owns and operates a number of casino resorts across the country including Emperors Palace in the city of Johannesburg. Initially this venture will extend to sport betting only but the group plans to offer broad based online casino gambling options once new legislation is passed.
In addition to its various joint partnerships, Playtech has also recently acquired Geneity, a UK based sports book developer with clients like Betfair, Ladbrokes and Gala Coral at an initial price of £11 million with an additional £4 million due upon agreed upon deliverables by the company. The Geneity sports book software will then replace Playtech’s existing product offering.
These were just a few of Playtech’s announcements this month and from the way they are going it seems there will be many more. To experience the success of the Playtech brand, play at Europa Casino now!
Facebook Online Gambling Plans Face Criticism
December 9, 2011
Facebook has caused a social revolution in our times and when it comes to interacting online it is definitively the biggest and most popular of the social media platforms available online. According to recent reports, Facebook is said to be considering entering the online gambling industry buy offering real money games to its users. These reports found substantiation at a recent dinner hosted by Facebook in London that included a number of online gambling industry players.
In spite of the UK’s regulation and general acceptance of online gambling, the idea of Facebook offering online games for money has met with negative reactions and criticism across the United Kingdom. The Daily Mail recently reported that more than 3 million Facebook patrons in the United Kingdom are aged between 13 and 17 and that an additional million are under the age of 13 but pretend to be older in order to access the network. These figures have raised concerns about the danger of underage gambling should Facebook proceed with plans to make this offering available.
According to Dr Robert Lefever, founding director of the Promis Recovery Centre, an organisation involved in the treatment of gambling addictions, he is of the opinion that if the youth see something on Facebook they will think that it is acceptable and not hesitate to try it. Lauri Moyle of the Christian Action Research Education (CARE) concurred, adding that there is a link between the age at which people begin gambling and the likelihood of developing difficulties in controlling their gambling habits. She said that giving children the impression that gambling is normal would be harmful to them. When interviewed on the subject, Professor Mark Griffiths of Nottingham Trent University stated that he was anti children playing games of chance even when money did not change hands because these types of games could develop into a gateway for serious gambling in future.
While The Daily Mail did approach Facebook for comment, the social media giant refrained from doing so, stating that the company is always in talks with other companies on a variety of ideas and subjects but they would not comment on future plans or public speculation.
Time will tell whether Facebook will proceed with its plans to launch online gambling applications, but one thing is for sure, if it does it will have to require strict authentication via Passport or Identification Documents to ensure that all players are above the legal age for gambling.
MGM Resorts Group Forges Online Poker Partnership With Bwin.Party
November 3, 2011
While US billionaires and numerous land based casino organizations hastily prepare for the imminent regulation of online gambling in the US market, the MGM Resorts Group recently announced the completion of an agreement that will see the group partner with Bwin.party digital entertainment (who own and operate PartyPoker and the World Poker Tour brands) in the online poker sector.
While the deal does hinge on the regulation of online poker on a federal or state level, these kinds of agreements are serving to shape the competitive landscape as traditionally brick and mortar casinos begin to enter the online sphere.
The MGM group is not the only company forging relations with the Bwin.party group, U.S Boyd Gaming also recently entered into a partnership with the group which sets the stakes at 65% owned by Bwin.party, MGM with a 25% share and Boyd gaming with a lesser 10% stake.
Under this new agreement Bwin.party will license its technology to both MGM Resorts and Boyd, which will offer online poker games under their individual brands. According to Jim Ryan, Bwin.party’s co-CEO “The intention of the joint venture is to take the PartyPoker brand and the World Poker Tour brand and our operating expertise and combine that with the regulatory expertise of MGM and Boyd,” he added that “Effectively you will have four brands in the U.S. and all four brands will be acquiring players and putting them in one hub, one poker network.”
The Party Poker brand was one of the largest platforms in the world before US Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in 2006 which caused its exit from the market until recent developments which may mark its formal return.
While Bwin.party offers a strong casino portfolio the developments have encompassed only poker as sources say there is no evidence that US law makers will put regulations in place for anything other than poker. With new plans in place for poker regulation, billionaires and traditional casino groups are vying to be ready so that they can be the “first” when markets open up and grab the lion’s share of the traffic, but for now, it’s still very much a waiting game!
UK Online Gamblers may face site filtering
October 20, 2011
While the majority of us don’t ever think about our freedoms when it comes to our web browsing practices, new government site filtering plans may force us to. These freedoms are of huge concern to groups that lobby against governments trying to control them. One of these groups, known as the Electronic Frontier Foundation (EFF) is on the front lines when it comes to advocating and defending free speech, innovation, privacy, and consumer rights across the World Wide Web.
A recent issue that has come under the spotlight and attracted much criticism from this organisation and the concerns of informed UK citizens is the British government’s plan to include the filtering of internet sites that itself and the Mothers’ Union consider to be offensive or harmful to the population. According to sources, Prime Minister David Cameron plans to implement the filtering strategy in co-operation with four of UK’s major Internet Service Providers (ISP’s) Sky, BT, TalkTalk, and Virgin to block access to websites containing pornographic, gambling, self-harm and other blacklisted content related websites.
This notion is completely unacceptable to the Electronic Frontier Foundation who clarifies that it cannot be made mandatory for ISP’s to completely block websites and ultimately the choice of viewing the content will come down to the consumer. Furthermore it advocates that the lack of transparency of the proposed plan, the vague descriptions of the categories which may face blocks as well as the lack of information pertaining to how the list of sites contained therein originated are unacceptable. According to the group, the categories mentioned contain legal content and could lead to legitimate websites being unfairly blocked.
The EFF has also stated that customers on the TalkTalk network are monitored even when opting out. This was confirmed by Richard Clayton of the University of Cambridge security research department who said that “this provider scans all domains that its customers visit regardless of whether they have opted-in to the service.”
Obviously privacy concerns are a major issue for internet users because even the option to opt out is ignored. So it might be time to give up complacency and fight for your rights alongside groups like the EFF, because once your rights are revoked they are lost forever and the government will become the “net nanny” for adults who, according to most constitutions, have the right to freedom of choice and should be old enough to decide for themselves which content they wish to consume.
How Steve Jobs and Apple Influenced Online Gambling
October 13, 2011
The untimely death of Steve Jobs last week was one that saddened the world and drew eulogies from societies most highly regarded personalities like US President Obama and Bill Gates to those who simply use and enjoy Apple products. Facebook condolences and Tweets about Jobs’ life and contribution to changing the way we use and view technology are everywhere, and his untimely passing is one that will definitely leave an impact for many years to come.
The mobile gambling industry also has a tribute to pay to Steve Jobs because even though indirectly, he was the main figure behind the rise of mobile gaming and made a significant impact on the way we gamble. Apple’s iPhone was first introduced to the market in 2007 and its advanced capabilities changed the face of the online gaming industry by allowing players to access casinos, poker rooms and sportsbooks directly from their mobile phones. Three years later, Apple launched the iPad, a tablet device that had many of the same capabilities as both the iPhone but added the functions of a laptop in a way that was more portable, easy to use and very convenient. Just a few month’s after its launch, leading online gaming operators designed apps for the iPad, and with the launch of the iPad2 in 2011 even more casino and betting applications are available, like the one from Jackpot City Casino.
While there is much speculation over the direction Apple will take now that the position of CEO has been handed over to Tim Cook, many seem positive and believe that TV devices maybe next on the company’s list for a revamp. No matter what the future holds for Apple, Steve Jobs’ legacy will surely live on in the spirit of innovation that has become an integral part of the company’s success.
Hope for Full Tilt Poker Players as French Company offers bailout
October 6, 2011
There may be good news for Full Tilt poker patrons on the horizon, that is if the proposed takeover by Groupe Bernard Tapie of the troubled poker room proceeds.
Full Tilt Poker recently announced the possible purchase of the organisation and its assets by the French owned company just one day after the Alderney Gambling Control Commission revoked its license. According to reports, the takeover deal would include the full repayment of all players awaiting withdrawals from Full Tilt. The deal does however hinge on a favourable outcome with the US Department of Justice’s case against Full Tilt.
The Tapie Group is owned and operated by one of France’s most prominent and controversial businessmen, Bernard Tapie who is famous for purchasing Adidas in 1990 and years of experience in acquiring and keeping financially distressed operations in business while managing them to back to prosperity. Like Full Tilt Poker, Bernard Tapie has quite a colourful past including prosecution for tax fraud and a six month prison stint in 1997 for football match fixing between Olympique Marseille (a team he owned from 1986-1994) and Valenciennes.
Nevertheless, Tapie seems confident in his new venture and his son Laurent Tapie recently stated that the group would not have undertaken the Full Tilt Poker take over if they did not believe in its potential.
The outcome of the proceedings against Full Tilt by the US DOJ are yet to be finalised but there may be a small sliver of hope for poker players waiting to get paid so watch this space!
British Luck Surveyed
September 29, 2011
A recent nationwide survey commissioned by William Hill on the UK population’s perceptions on luck has revealed that the majority of people do believe in luck.
Statistics showed that 69% of participants believe in luck while 31% do not and regional breakdowns of the luckiest people in the country revealed that the inhabitants of Northern Ireland believe in the so called luck of the Irish with 62.5% believing that they were lucky in contrast to Scotland’s mere 29% believing that they were lucky. Furthermore, people located in the North East, North West, the Midlands and Yorkshire also do not believe themselves to a being lucky whereas 54% of Londoners, 55.3% of the Welsh and 52% of Easterners would put themselves in the lucky category.
The survey also revealed that many UK based individuals are superstitious with 57.5 percent of the participants holding and adhering to superstitions including those involving the avoidance of walking under ladders (39.8%), not revealing wishes they make after blowing out birthday candles (30%), carrying a lucky charm (8.7%) or rabbit’s foot (0.8%).
Other interesting findings included that 7 is believed to be Britain’s luckiest number, 47% of people believe that their behaviour towards other would influence their luck (karma) and bizarrely 65% of white haired people felt that they were lucky while 71% thought that they had enough luck to win a car or some other item of value.
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Study reveals that Online Gambling does not cause gambling addiction
July 28, 2011
Two of Harvard University’s most esteemed researchers, Howard J. Shaffer and Ryan Martin, recently conducted a study into problem gambling and findings were released in a paper entitled “Disordered Gambling: Etiology, Trajectory and Clinical Considerations” which was published in the Annual Review of Clinical Psychology.
The findings of the study indicate that prevalence of problem gambling is on the decline over time and that online gambling does not in fact lead to problem gambling.
Obviously in light of the massive media coverage online gambling gets in terms of continued legislative debates surround its legality, with proponents often citing “problem gambling perpetuation that cannot be controlled” as online gambling’s main evil, this was a lot for everyone to swallow.
The Chicago Tribune carried the follow up interview with Shaffer to discuss his findings in further detail which revealed that while there has been exponential growth in gambling both online and at land based venues, the prevalence of gambling problems is showing a decreasing rate from 0.7% to 0.6%. Shaffer explained that for the majority of the U.S population, gambling is an enjoyable yet controlled pastime. He also firmly negated the anti-online gambling view held by major politicians and lobbyists based on the fact that it presents a higher risk of creating problem gamblers and he has the statistics to prove it, commenting that “People gambling online change their rates of gambling from more to less in weeks, we never would have predicted that. The extent of online gambling for the majority is remarkably moderate.”
The conclusions of Shaffer & Martin’s study can be summarised as follows:
- A meagre 1% of the world’s gambling population has played online.
- There is no substantiating evidence that being exposed to online gambling sites increases a player’s risk of problem gambling and addiction.
- 0.6% of U.S based gamblers may be classified as problem gamblers.
- 75% of this group have addictions to things other than gambling and these addictions preceded their gambling addictions, thus these people have existing addiction profiles.
- Within this 75% group, 75% are abuse alcohol, 60% are addicted to smoking and 38% abuse drugs.
While in stark opposition to political views propagated by the media, these findings are not altogether new and many studies commissioned by esteemed organisations like the UK Gambling Commission have seen similar results that re-enforce these conclusions.
What can be drawn from this study and the numerous others that preceded though is the fact that addictions of any kind are a real disability for the sufferer, often with serious and tragic consequences within their lives and the lives of those close to them, however online gambling does not automatically amount to problem gambling and it is definitely not the uncontrollable threat that it is often portrayed to be. So enjoy yourself the next time you visit an
Sunday Times names UK Online Gambling moguls in its Rich List
May 19, 2011
Each year the Sunday Times releases its very own “Rich List” and this year it profiles the top one thousand wealthiest people in Britain and Ireland, as compiled by Philip Beresford. The list is based on identifiable wealth (i.e. assets including property, land, shares in public companies and even racehorses and art) but of course excludes bank accounts due to the fact that the paper obviously cannot access these. This means that the figures mentioned are only a slight indication of the true wealth that these moguls have amassed, but even so the figures are hugely impressive.
The list is made up of numerous categories, but we find the digital and online category the most interesting for obvious reasons! In this category Britain’s first digital billionaire Charles Dunstone of Carphone Warehouse and Talk Talk fame tops the list. In the online gambling entrepreneurs section the following online gambling moguls made the cut:
- In joint first place, but only in 90th place nationally are the millionaire father and daughter Peter and Denise Coates who are the owners of Bet365 and have reportedly amassed a fortune in assets reportedly worth over £750 million (this up £250 million from last year).
- Second in line are Russ DeLeon and Ruth Parasol, the founders of Party Gaming. Although their earnings are down £99 million, they still own a shared fortune of £733 million.
- Betfred’s Peter and Fred Done came in in third place with £660 million.
- Vikrant Bhargava, another Party Gaming millionaire comes in fourth with a net worth of £230 million in assets.
- Gibraltar-based Victor Chandler came in 5th with a reported fortune of £160 million.
- Founders of Betfair Andrew Black and Ed Wray are reportedly worth £125 million and £132 million respectively.
- Richard Koch, also of Betfair fame is apparently down £37 million this year at £92 million.
- Phil Cronin from Tombola has had a huge upturn of £27 million in his fortunes, reportedly reaching £82 million this year.
That is some serious wealth having been generated from online gambling over the years, and these are the just the individuals in the industry currently residing in the UK and while the global impacts of the recession and legislation issues are reflected in some reported losses, for the most part we’d say the industry is alive and well in the UK.
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Caesars tie to online casino approved by Nevada regulators
March 31, 2011
Thursday last week saw Nevada gambling regulators vote to allow one of the world’s largest land based casino enterprises to do business with 888, a Gibraltar based online gambling company which is one of the biggest in the industry and is publicly traded on the London Stock Exchange. The vote led to the approval of the business relationship between the two giants, namely Caesars Entertainment Corp and 888 Holdings PLC, which means that UK based online players can look forward to accessing over 50 casino in several countries, including the famous Vegas based Caesars Palace casino, as they move towards running online gaming sites through 888 for their various properties.
According to reports, this move has been years in the making and the Caesars group has long been positioning itself to launch into online gambling should this ever become legalised in the US, however the process has been a delicate one which has been mindful of assessing each other’s business practices and legalities of online gambling. In a statement, the group’s CEO, Mitch Garber stated that the UK was not the end of the group’s plan or vision and the group hopes to expand into online gambling in other countries going forwards as the various laws allow.
The 888/Caesars approval decision was made on the same day that Nevada lawmakers in Carson City gathered for a hearing on a bill to legalize state-wide internet poker. This bill in question was ironically pushed by a top poker website and fiercely opposed by land based gambling companies, including Caesars which are pushing for federal legislation instead.
According to Commissioner Randolph Townsend, whether the bill to legalise state-wide poker is passed or not, the board and commission will be put under immense pressure to authorize Internet gaming. This sentiment stems from the fact that worldwide online gambling revenue is estimated at figures of $24.2 billion in 2011 and around $26.1 billion in 2012, which the US would continue to miss out on should they continue to ban online gambling. Time will tell whether the bill will force lawmakers to amend past decisions, but in the meantime, UK citizens will have a whole lot more to look forward to in terms of variety.
