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Scientific Games and WMS Industries Consolidates
Prime online casino firm WMS Industries and one of the leading gaming machine outfitter and lottery technologies provider have once again made big news in the industry. This is because Scientific Games, which is a major competitor of the newly purchased firm, recently acquired WM Industries. WMS has frequented the limelight recently with its launching of its online gaming subsidiary Williams Interactive partnership with Jackpot Party social casino and other huge accounts in European and Canadian markets. In addition, WMS received a license to offer its online poker products in Nevada. It has also completed deals with 888’s b2b subsidiary Dragonfish. The deal was said to be worth $1.42 billion.
According to Scientific Games’ chief executive Lorne Well, the transformational prime online acquisitions will allow Scientific Games to offer a comprehensive portfolio of lottery gaming products and services to its existing and potential players all across the globe. Jeffrey Lipkin, the chief financial officer also said that the acquisition would open a more diversified Scientific Games revenues base thereby expanding its margin and drive future growth. The deal is yet on the process of ironing things out by shareholders and regulators. It is expected to be completed by 2013. Lipkin further explained that acquiring the WMS prime subsidiary is a great example of an old but well developed firm that is being purchased by another company whose main focus is expansion and diversification.
The worth of the deal only represents the 59 percent of WMS’ premium share value and its future market initiatives. According to the proposal presented to the investors, the reason for such acquisition is to drive Scientific Games’ future growth and expansion particularly to the international markets. Moreover, this deal will add substantial value to Scientific Games Corporation in this very lucrative online casino industry. The recent stock value of prime casino company Scientific Games has gone up by 6.76 percent on the New York Exchange. The outcome of the consolidation is expected to be up and running within this year. What is great about this deal is that both parties are in a win-win situation.
32Red Thanks Advertising Efforts for Soaring High Revenues
There is a plethora of choices when it comes to prime casino online providers today. However, there are only a few of them that are guaranteed reliable, safe and offer the best games for their enthusiasts. Among them is the award winning British company and Gibraltar licensed operator 32Red. Currently, players can enjoy more than 350 casino games from the site from roulette to blackjack, poker, baccarat and other table games. In addition, players have a lot of options when it comes to currencies. 32Red accepts transactions using currencies like the Euro, Canadian Dollar, Australian Dollar, and Japanese Yen. Fans keep on coming back to 32Red as they consider it as their one stop online casino destination.
In the year 2012, the firm revealed that it had increased its revenue by 28 percent. This makes it their third year to show steadily rising gains. In the last two years, 32Red reported that it had grown its revenue by a skyrocketing 90 percent. This is a massive increase from 2010’s 16.9 million pounds to 32.1 million pounds in 2012. This equates to about 15.2 million pounds more on top of their previous gains. Certainly, 32Red is casino online fan’s prime destination. Its revenues say it all. The company’s CEO Ed Wares said that the 32Red has enjoyed another strong year of profit growth. He explained that the new player recruitment and the exceptional levels of service and entertainment delivery to online casino players are the main reasons for their success. The company also announced that it has plans to continue its efforts to increase the revenue through its global expansion strategy. 32Red plans on maintaining its yield per active players as it is one of the highest in the sector at present.
In 2012 alone, there were about 42,000 new players recruited which means a 44 percent increase in the number of active players. The company reiterated that it has also been the result of its massive investment on advertising the prime casino online brand 32Red. Ware also commented that the company is now looking towards the regulated market all over the world including the Italian Internet casino market. Ware is confident that the company is all geared up to jump in newly opened and regulated markets offshore as it continues to monitor the developments.
Pocket Kings Being Dismantled
Prime online casino brand Full Tilt Poker is trying to clean up everything that was left in Ireland. Once an empire, Full Tilt is now in the process of dismantling its remains specifically Pocket Kings that was once its subsidiary. The US Department of Justice ordered them to forfeit all assets after it had declared that the poker room was a Ponzi scheme of great proportions. This may sound like a familiar story for those who have been following the history of the Internet gambling industry in the United States. This scenario is like a replay of what happened to the offshore operators when the Bush administration imposed a block of all internet sites for this kind of market.
Unfortunately, this last piece of the casino online prime operator has been the source of about 180 jobs inDublin. It is such as devastating event to lose all these opportunities for a place where employment is very rare. The worst part is that Poker Stars did not purchase Pocket Kings along with its acquisition of Full Tilt Poker last year. It could have been the brand’s last resort. The company is still in liquidation after several proposals fell through. Pocket Kings was hoping to be saved when the Group Bernard Tapie attempted to buy FTP. However, the small hope died down when Tapie was not able to give the assurance to repay all players who have pending accounts with FTP within 90 days. Pocket Kings being dismantled left nothing for players for which they find really unfair.
Another part of the liquidation process is the Rekop Limited that is also another Full Tilt Poker prime casino online subsidiary. The firm holds a license in France. At present, Ray Bitar who is Pocket King’s secretary, chief executive and the former CEO of FTP is facing all the charges against the firm. He is under house arrest in the US. Meanwhile, other company principals Chris Ferguson, Howard Lederer and Rafe Rust have all paid fines and are freed from the US Department of Justice. The charges for the company, however, are still on as well as the dismantling of Pocket Kings.
Spain Online Casino Operators Plan on Moving Out
Everyone must have thought that Spain is among the prime online casino destinations just like the other European countries. Unfortunately, what appears as a flourishing market is actually a chaotic one. In fact, the 53 licensed operators in the country now are going to pull out from the market due to the same reason that the French Internet casino had just last year.
According to reports, these online casino prime operators couldn’t stand the overtaxed and over-regulated market. With this, they find it near impossible to become profitable while operating in the jurisdiction. Spain regulators may allow the resale of licenses by authorized subsidiaries in the country. The apparent problem here is the 25 percent tax on gross gambling revenue. A similar tax rate is being imposed to brick and mortar casinos that also obtained licenses from the jurisdiction’s gambling authority. According to the president of the organization representing Spain’s land based casino Eduardo Antoja, the 25 percent tax is very uncompetitive. In the UK, the 15 percent tax has already been the subject of all criticisms and complaints. It is no wonder Spanish operators had the same concern in Spain.
Antoja pointed out that Spain is supposed to be a part of the pan-European market. With this, it is expected that the jurisdiction to be competitive. However, the current regulations have even made the market less attractive to prime casino online operators. Both land and Internet based gambling providers are hoping to cut the tax down by 10 percent. Should it be allowed, Spain will surely be flooded with applicants for gambling operation licenses. It appears like the Spanish government is more concerned about coming up with a highly regulated market and high tax regime than keeping its existing operators. If Spain does not make changes on its current laws, it is in danger for losing jobs and massive financial meltdown. Before the government gave out licenses, it required applicants to pay over four years of back taxes in order to qualify. In 2012, Spain was able to collect about 140 million Euros from online casino revenues. It aims to raise it to 20 million Euros by the end of 2013. With the current situation, it seems like Spain will not be gaining anything this year.
North Carolina Court to Ban Video Sweepstakes?
Gambling is a very huge industry in the United States. It has been a source of entertainment for some people and a past time that cannot be taken from Americans. However, we cannot deny the fact that not all casino games are legal, and the legalities of some are being questioned. One of the casino games in question at the moment is the existence of video sweepstakes that are operated not only by a prime casino but also by cafés that operate like small electronic casinos.
A recent report stated that North Carolina’s highest court is going to decide whether such establishments will continue to operate or be completely removed from the market. The State has its own rules regarding the operation of the gambling industry and they have made the owners of the video sweepstakes test them in courts. Manufacturers of the software for video sweepstakes games have appealed to the Supreme Court in order to delay the decision of the state Supreme Court in closing down North Carolina’s sweepstakes halls. They are not the only ones affected by this issue but also many prime casino operators that offer such games. As of today, the battle in the courts is still ongoing and both parties are fighting for and against the legalities of this form of entertainment. The entities belonging in the industry have already spent millions and millions of dollars in order to keep the existence of this game.North Carolina has already banned the machines before but the operators of the video sweepstakes game have come back just a few days after as they have changed the software controlling the games.
Most of the operators have found ways on how to avoid the ban by expanding in other locations or controlling the software behind the video sweepstakes game. North Carolina has estimated this industry to be worth roughly $2 Billion. The case is still ongoing and officials cannot see a clear direction of this matter. Apparently, issues like these do not only happen in the land based casino industry. It also happens to casino online companies. This simply means that whether it is a brick and mortar shop or operated as prime online casino, the issues are still the same.
Integrity of Online Casino Operators at Risk?
A number of online casinos are gathering supporters by proving that the payback in playing online games is absolutely 100%. If players are to know that the games are rigged, the industry will be put at risk and companies may go out of business. There has been news of rigging games which had reflected badly on the industry, and had negatively impacted the sales of a number of casino online sites. This is assuredly because players do not want to play at games or sites that they feel they might be getting taken advantage of. The purpose of Internet casinos is to provide entertainment. Who would be entertained after knowing that online games are just fooling them? To some, it is their way of doubling or simply increasing their cash. With such negative news about online games, will there still be people interested in playing?
GTech, a subsidiary of Lottomatica, has been reported to have rigged two online casino games namely Reel Deal and Hi/Lo Gambler. According to the report, these games use a base code created by Realistic Games and were re-coded by GTech. These games were distributed to many prime casinos including NordicBet and Betfred. The two mentioned companies have created a severe breach of trust with online gambling players. GTech and Spielo International operates under Boss Media, both are under the ownership of Lottomatica. An independent player outside the industry had conducted a research that tested the reliability of the two online games being offered by Betfred and NordicBet. The result revealed that the advertised payback of 100% was erroneous and in reality, they only produced a 96% payback. The result has affected the reputation of other online games providers in America.
Betfred had explained the issue and had even thanked those that had identified the problems with the games. This revealed that Betfred and NordicBet had not conducted proper testing on these games. Due to this, the two online casino prime operators were instructed to remove the games from their offerings and refund all the players that had participated on the game. Some had been given the chance to play games for free. All real money online gaming providers must be aware of any rigged games if they want to stay in the industry.
Feud between Prime Casino Slots Manufacturer Heats Up
International Game Technology is the leading manufacturer of gaming machines and other prime casino machines across the globe since 1981. They specialize in the development, design, manufacture, and marketing of electronic gaming equipment and systems products. They are also the leading supplier of gaming products in the world. IGT is the software developer of major online casino offerings in the industry such as Mr. Green Casino, and other popular casinos in the world.
It has been in the news that the casino company is facing a feud with one of its former Chairman and CEOs, Charles Mathewson. Mathewson had left the company ten years ago but is now leading a group of the company’s shareholders. The group led by Mathewson has nominated 4 shareholders to become part of the board of directors. This has led to a larger issue involving the former and the present CEOs. The feud goes on between Hart and Mathewson. However, the decision still rests in shareholders’ final decision as they are listening to both sides of the story and have to decide who they are better off with.
Despite the feud going around IGT’s execs, it has still managed to come up with new online casino prime offering, and it is for free. IGT’s Double Down Casino has just released its free to play House MD Slots for Facebook. This game has got its license from its agreement with the Universal Partnerships and Licensing and NBC Universal Television product. House fans can now play with their favorite witty Dr. Gregory House. There are also other cast members like Dr. Cameron, Dr. Robert Chase, Dr. Foreman, Dr. Wilson as well as Thirteen. This medical themed slot features free spins, medical mysteries and differential diagnosis. Anyone who has Facebook can take advantage of this casino online offering. They can spin the cast of characters and stack up their virtual chips. What is great about this slot is that even if it is free, players can choose the amount of virtual chips they want to wager, number of lines and even opt for auto or manual play.