Throughout the history of the online gambling industry there have been many consolidations partnerships and acquisitions that have made the big even bigger and the small operators a prime target for those with the backing. Software developers have been having a field day with the newest platforms capable of what in the past was almost impossible online. The marching forward of technology means opportunity for some, while others wrestle with just keeping up.
Standby companies such as International Game Technologies a US based slot machine manufacturer has been delving into other aspect of the gambling world such as social online betting. The firm spent approximately $ 500 million dollars on the social gaming sector with the purchase of Double Down a provider of games on the social network Facebook. IGT hasn’t been fairing that well since the acquisition with a substantial drop in revenues since the purchase. It was suggested by an investment group that the "incredibly expensive" acquisition has caused the company to lose its strategic focus and should be concentrating on the Asian market instead of barking up the social gaming tree. Mariya Barnes a spokesperson for IGT said they was preparing a response to some of the shareholders concerns.
Patti Hart, Chief Executive Officer for IGT said that thing on the social gaming front were doing well and was showing considerable growth recently up 5 percent over last year. IGT Chief Executive Patti Hart said in November that the company's social gaming unit was growing faster than expected. Interactive gaming contributed about 7 percent of overall revenue in 2012. Some investors were less critical of the company’s move to social online gambling saying the acquisition could "almost be viewed as a Research & Development expenditure." The move into other mediums is for some investors just risky business, for others the experience gained and the diversification is a welcomed move forward that is necessary for every successful business venture.
A growing number of online sites are letting users compete for real money in multiplayer games and tournaments.
Facebook, which has a significant gaming audience, has reached agreements with gambling companies to begin offering real-money games like Bingo this year. Zynga announced plans to launch a casino through Facebook, to build off their strong brands in poker and Farmville, and appealed for a U.K. partner.
At this stage, online gambling laws are still being cleared in the U.S., so American gaming sites like Betable, are operating in the UK, where the law has adopted a regulatory approach to such online games.
Developers who stick to virtual currencies may get left behind, as studios which implement real money games acquire a more lucrative player base and get more money at their disposal for marketing.
A well known executive vice president of business development said: “If you incorporate real-money gaming, you’ll get a higher lifetime value from your players, and then you’ll be able to outspend other companies in the space that aren’t doing real-money gaming.”
One of the best offers of roulettes, blackjack and slots on the market is surely the one of Money Gaming. With a great variety within a secure environment, this is a comprehensive portal for real money games.
Leading sites tend to encourage responsible playing. They have policies in place to protect users from cheats and encourage reporting suspicious activity.
The Deputy Director in the Ministry of Environment and Tourism's Division of Gaming Control, Servasius Dinyando Kapinga, says regulating gambling is not effectively catered for in the Casinos and Gambling Act of 1994.
Kapinga yesterday said the Casinos and Gambling Act is outdated and a proposal for a new bill was submitted to the Cabinet Committee for consideration. He said the proposed bill would among others look at how the State and casino operators could work together to rehabilitate people addicted to gambling. On Tuesday New Era carried a front-page story on the thousands of Namibians who engage in gambling of whom 10 to 15 percent are "problem gamblers".
The Casinos and Gambling Act of 1994 does not make provision for online gambling, Kapinga further remarked. Online gambling is evolving at a fast pace. This means many people fall prey to dubious online schemes because online gambling is not regulated in Namibia, Kapinga explained. People gamble online using their mobile phones, credit cards and debit cards, Kapinga added.
He is also of the view that if regulated properly, gambling can be controlled.
"How do you know who is addicted (to online gambling)? How do you control that the online gambling operator is authentic? People can lose a lot of money through online gambling and yet they will have nowhere to report it. People can be fooled unless things are regulated," remarked Kapinga. Due to the mushrooming of gambling houses, a moratorium was put in place in December 1996, to put on hold the issuing of gambling house licences. However, plans to lift the moratorium are currently underway.
"This was due to the impact it (mushrooming of gambling houses) had on society," Kapinga said. At that time, there was no mushrooming of casinos, he said. While some people gamble for entertainment, others gamble in the misplaced hope their fortunes could turn for the better.
They nevertheless risk being addicted to gambling, which then leads to broken marriages and losing valuable assets such as houses and cars.
Business has always been BlackBerry’s bread and butter. But the company formerly known as Research In Motion up until Wednesday morning has put a new emphasis on entertainment with its BlackBerry 10 operating system.
The BlackBerry World app store, which went live just ahead of BlackBerry 10’s launch on Wednesday, opens its virtual doors with more than 70,000 applications. Big names such as Skype, Twitter, Whatsapp, WebEx, SAP, and others are already available to BlackBerry users.
BlackBerry apparently recognizes that a fully realized app store is required to win over devoted Android and iOS users. Its music and movie offerings, while not as extensive as what its competitors can boast, are still plentiful. Prices are competitive, ranging from 99 cents to $1.49 for a song and from $8.99 to $11.99 for a popular album. By way of comparison, individual songs at Apple’s iTunes store range from 99 cents to $1.29 (with some tracks available for less).
BlackBerry also partnered with eight major movie studios and the large TV networks to offer a wide selection of streaming content.
To highlight its commitment to content, BlackBerry called on singer-songwriter Alicia Keys. She’s now a global creative director of the company. BlackBerry is working with Keys, film director Robert Rodriguez, and author Neil Gaiman to showcase how its new phones, the Z10 and Q10, can be used to create content.
“I’m going to work with people in the entertainment and music business to inspire creative projects,” Keys said during BB10’s Tuesday launch event in New York City.
BlackBerry’s Keep Moving Projects, featuring Rodriguez, Gaiman, and Keys, will follow the artists as they use the new BlackBerry phones. Rodriguez plans to collaborate with fans on a filmmaking project, Gaiman is using BlackBerry to connect with readers and create art, and Keys will be shooting music videos on her smartphone in each city she plays on her upcoming “Set the World on Fire” tour.
Keys said she’s even shooting with her BlackBerry at the Super Bowl this Sunday in New Orleans.
The singer is apart of the high-powered, professional demographic that BlackBerry once monopolized but lost to better, sleeker rivals. “I was in a long-term relationship with BlackBerry, and then I started to notice some new, hotter, sexier phones at the gym,” Keys said at the launch. “I broke up with you for something that had a little more bling.”
BlackBerry 10 brought her back, but it remains to be seen if the company can woo average Joes and Janes, too.
The president of Atlantic City's largest casino workers' union called on Gov. Chris Christie to sign an Internet gambling bill, saying online betting revenue could make the difference between two or more casinos surviving or having to close.
Bob McDevitt, head of Local 54 of the Unite-HERE union, said today he supports the bill as a way to preserve the jobs of thousands of casino workers.
"In the past several years, Atlantic City has suffered as the result of increased competition from neighboring states," he said. "Gaming revenues have declined by 40 percent, causing reduced tax revenue for programs that support New Jersey's seniors, fewer jobs and reduced wages for casino workers as the casinos need fewer employees to staff the facilities. The Internet gaming bill gives New Jersey the opportunity to change that."
McDevitt cited studies projecting that Internet gambling in New Jersey could produce $650 million to $850 million in revenue in its first year, and $1.5 billion annually within a few years. "We believe that this increased revenue could make the difference between two or more casinos staying open or closing," he said. "Keeping those casinos open means saving more than 3,000 jobs. This bill will allow Atlantic City to compete more effectively, increase tax revenues and save thousands of jobs."
The New Jersey legislature passed an Internet betting bill in December; Christie has about a week left to act on it.
He vetoed a similar bill in March 2011, citing concerns about its constitutionality and the proliferation of back-room Internet betting parlors. The governor has given no indication whether changes made to the most recent bill will be enough to win his support.
The bill would legalize the online playing, for money, of any game currently offered at the 12 Atlantic City casinos, including poker. In order to comply with a requirement of the state Constitution that casino gambling be conducted only in Atlantic City, all computers, servers, monitoring rooms and hubs used to conduct the online gambling must be located either in a restricted area on the premises of a casino, or in a secure facility inaccessible to the public off the grounds of a casino but within the city limits of Atlantic City.
The location issue was one that Christie cited when he vetoed the first Internet gambling bill in 2011. But supporters of the bill have since solicited testimony from top legal scholars that having the computer and other equipment located in Atlantic City would be enough to comply with the state Constitution.
The bill would tax Internet gambling revenues at 10 percent, up from the 8 percent that the casinos pay for money won on their premises.
Atlantic City casino union head says Internet gambling bill will help save jobs | NJ-com
Saskatchewan Canada’s online casino and sports book GEObet Gambling Network has the right spirit when it comes to hockey. After all hockey is considered by many the national sport in the frozen north so there are many fans who really appreciate what the GEObet network is doing. By offering gamers refunds if their teams lose games. They will refund losing money-line and puck-line bets when Canadian teams lose a regular season game that goes to overtime. Those teams include the Winnipeg Jets, Ottawa Senators, Montreal Canadiens, Toronto Maple Leafs, Vancouver Canucks, Edmonton Oilers and the Calgary Flames with the maximum refund totalling anything up to $/€/£50. Sweet deal from the new Saskatchewan First Nations Indian tribe, operate under its licenses from Malta, Curacao and the Mohawk territory of Kahnawake Quebec.
The tribal casino has been up and operating for a short time with results from the international market picking up. Tribal casinos are big in Canada but this is the first of its kind in the prairie provinces. Online casinos have been introduced by the British Columbian, Quebec. Manitoban, and soon Ontario provincial governments. Online gambling has been on the rise in Canada with thousands of punters going to online casinos rather than travelling to land based locations.
Internet gambling is a practical way to play in a country where travel on icy snow filled roads at sub zero temperatures for about six months of the year is not fun for those seeking a little fun. Ontario is relaxing its gambling laws to allow more land based casinos with more slot machines and gaming tables. Tribal casinos compete with the government facilities with tribal casinos sometimes offering a better and more complete experience with hotels and top notch entertainment.
The online gambling market in Canada is happy the National Hockey League has settled its differences and if finally playing the game that they can place a bet on.
When "Rodham," a screenplay about the life of Hillary Clinton, made the list of Hollywood's hottest unproduced scripts, political wonks from L.A. to the Beltway erupted with excitement.
Penned by Young-Il Kim, the script's The Blacklist description reads: "During the height of the Watergate scandal, rising star Hillary Rodham is the youngest lawyer chosen for the House Judiciary Committee to impeach Nixon, but she soon finds herself forced to choose between a destined path to the White House and her unresolved feelings for Bill Clinton, her former boyfriend who now teaches law in Arkansas." Though the project remains in the earliest stages of development, and its debut on the big screen could be years away, everyone wants to know: Who will play Hillary Clinton?
Various actresses have been reading for the part, a source close to the production confirms to NBC, but no one is officially attached. Potential directors are also in discussions for the project, which is being produced by The Arlook Group and Temple Hill Entertainment (which also produced the "Twilight" series).
The script begins with Clinton's time at Yale, and followers her as she meets and falls in love with Bill Clinton, and then progresses through her and Bill's major life milestones up until shortly after Nixon's resignation.
Bill Clinton has expressed interest in Meryl Streep for the title role, but sources involved with the production say they're keen to cast an actress who looks more like Hillary during her law school years and early days as an attorney.
Every once in awhile a new site is launched on the internet that speaks specifically to a certain group with the aim of helping businesses understand and communicate with each other. The brain child ofGian Perroni, who is the President of AffPoint the newest portal for affiliate marketers announced it has launched its offering February 1st 2013.
The new site is focused on affiliates and affiliate programs and is actively pursuing participation through affiliate poker tournaments and educational seminars including boot camps. Perroni, said in a statement, “We are very supportive of these communities, and their respective forums and certification programs. AffPoint focuses in a few different ways, providing additional value to both affiliates and affiliate program operators.” The newly launched affiliate industry portal is there to serve as an affiliate industry resource centre, focusing on both online and land-based gaming operations.
Affpoint has already announced their first Affiliate Boot Camp to commence April 17 – 20, 2013, at Le Méridien St Julians Hotel and Spa in Malta. Following similar Boot Camp events in London, Amsterdam and Barcelona they are designed with new and existing affiliates in mind. The 4-day event includes 2 full days of intensive educational seminars, workshops and product exposure, facilitated by several of the top affiliate gurus in the gambling industry. 25 years of hands-on gaming management and affiliate experience between the site owners give this affiliate info portal credibility with the site designed to serve as both an educational tool, as well as an affiliate program news and information aggregator. AffPoint senior management staff are located in Vancouver, Las Vegas and Malta.
Affpoint has revealed that the Affpoint Poker Tour (APT) will also launch in March of 2013. Participating programs with poker rooms and casinos will be capable of hosting restricted tournament events that will provide affiliates with the opportunity to win significant cash and prizes while enjoying the exclusiveness of an affiliate only tournament.
The consolidation of market share has once again made the gambling industry news with the recent announcement of the slot machine maker and online gaming firm WMS Industries purchase by competitor and lottery technologies provider and gaming machine outfitter Scientific Games Corp. The recently launched online gaming subsidiary Williams Interactive of WMS Industries has made a lot of headway in the online gambling industry with deals struck between the Jackpot Party social casino as well as other big accounts in Canada and Europe. WMS has been granted a license to operate online poker services in Nevada and a future partnership with 888’s business to business subsidiary Dragonfish was just completed. The price of the acquisition was hefty at $1.42 billion and justified according to those in the know.
Lorne Weill Chief Executive Officer for Scientific Games commented that the “transformational” acquisition would enable Scientific Games to offer “a complete portfolio of lottery and gaming products and services to both new and existing customers around the world.” The company’s Chief Financial Officer, Jeffrey Lipkin, also stated that the acquisition would “diversify Scientific Games revenue base, expand margins and propel future growth opportunities.” The deal will take it’s time getting around to a final edit by shareholders and regulators which is expected to come by the end of 2013. The purchase of the Williams Manufacturing company is one example of an old but progressive firm being purchased by a firm with a focus on diversification and expansion.
The price for the WMS reflects the 59% premium on WMS’ share value, and its potential market initiatives. The proposal to investors points out the reasoning behind the purchase such as cross selling opportunities and above all a diversification of Scientific Games future growth and development of its international marketing strategy. The move is expected to add a substantial amount to the value of Scientific Games Corporation through lucrative cash flow and brand interaction. Scientific Games stock was up 6.75% on the New York exchange as of February 1st 2013.
Scientific Games Seals Deal for Online Gambling WMS Industries
When the Oscar Roadtrip kicks off next week, movie fans will get a chance to hold one of the shiny statuettes as it makes its way from New York to the 85th Academy Awards in Hollywood on Feb. 24.
A list of cities for stops has been established, including St. Louis on Feb. 13, but the Academy of Motion Picture Arts and Sciences wants your suggestions for specific locations. You can submit your ideas for where Oscar should stop and greet fans on the Academy's roadtrip website, on Twitter at @OscarRoadtrip or at facebook.com/TheAcademy.
Traveling with Oscar will be comedian Ben Gleib (a roundtable regular on E!'s "Chelsea Lately") and comedian-host Angie Greenup, who will chronicle the journey at OscarRoadtrip.com.
"We created the Oscar Roadtrip to bring the magic and fun of the Oscar ceremony to movie fans across the country," says Josh Spector, AMPAS managing director of digital media and marketing, in an announcement. "The Oscar Roadtrip makes it possible to share the once-in-a-lifetime thrill that only comes from holding an Oscar statuette."
We're hard at work now on our thank-you remarks. Something along the lines of this, perhaps:
Oscar Roadtrip
Here's the full list of cities Oscar will visit, with more impromptu stops decided along the way:
Terry Rich believes the Iowa Lottery has the authority to operate online poker and other Internet gaming, but warned lawmakers Iowa may face competition from the federal government.
In a presentation to the Iowa Legislature’s House-Senate Government Oversight Appropriations Subcommittee on Friday, Rich said studies indicate more than 150,000 Iowans already are playing online poker and spending somewhere upward of $40 million a year on sports betting and online gambling even though both are illegal in Iowa.
Iowa lawmakers have floated the idea of online gambling in the past, but have never approved an expansion into the World Wide Web.
However, Rich doesn’t think any legislative action is necessary.
“We believe we have the authority to do most of our games on the Internet,” he told the subcommittee.
What lawmakers need to know is that U.S. Senate Majority Leader Harry Reid, D-Nevada, has pushed the idea of federalizing Internet gaming. The speculation is that under Reid’s plan, control of Internet gaming and the revenue would go to Nevada casinos, Rich said.
The bill, which was opposed by the National Governors’ Association, among others, died in the lame-duck session of Congress late last year, but Rich expects Reid will bring it back.
If it does, it could become a states’ rights issue.
“The Legislature should decide what gaming goes on in Iowa, not the federal government,” Rich said. “We want the decision made by this body.”
It’s hard to gauge how much illegal online gambling occurs in Iowa, but Lottery officials say there is evidence of Internet gaming activity.
Rich noted that over the past five years, some Iowans who received help for problem gambling identified sports betting and online gambling — both illegal in Iowa — as their primary forms of wagering.
The numbers are somewhat tenuous, but Rich presented information based on an industry study suggesting that worldwide it’s a $4 billion-a-year enterprise. Given Iowa’s population of about
3.1 million, the Lottery says the state’s share is
$40 million a year.
In a 2011 report prepared for the Iowa Racing and Gaming Commission, the state’s take from legalized online gambling — based on Iowa’s 22 percent casino tax — could run from
As large gambling companies lure punters in with 'free' money, Carol Hunt lays her cards on the table
LAST week, purely for research purposes, I bought a lottery ticket. Yes, I know the ad asks why would I do x, y and z ridiculous things to become a millionaire when all I have to do is play Lotto. But, as I always yell at the TV in answer, that's because I know that my chance of winning those millions is as likely as me becoming the next pope. Being an incurable pessimist – or realist, as I prefer to call it – I don't gamble.
Although, of course, that's not strictly true. Being Irish I've more than once had a flutter on the gee-gees – which, unlike the Lotto, at least provides an entertaining run for your money.
And I still remember the rush of adrenalin I would get as a kid when the one-armed bandit in Funderland would eventually cough out a 20th of what I'd put in. If my stack of hard-saved 10-pence pieces hadn't eventually run out, I'd probably still be there.
Then there's the fun poker games with friends – I'd never call them "gambling" but I'd refuse to play if hard cash wasn't involved. What would be the point?
Okay, I admit it, not too deep inside me is probably a gambler of Nick Leeson proportions just waiting for the right opportunity to make a killing.
So it was with interest I watched Joe O'Shea's programme last week, Reality Bites: The Gambling Gene, on RTE One. Is gambling a peculiarly Irish obsession? It would seem so, as the programme revealed that the Irish gambling market is worth about €2bn.
Meanwhile, last week the UK Independent revealed that "a huge increase in gambling addicts will make Britain's obsession with gambling a £2bn business".
If these figures are accurate, even accounting for the sterling/euro difference, it's obvious that the Irish appetite for gambling far exceeds that of the British. And as the programme made clear, the internet and smartphones have completely changed the way we gamble. It's like having your local bookie literally taking up residence in your pocket, as firms like Paddy Power do everything to ensure that you're never more than two seconds away from making a bet.
So, whereas in the past someone like me would have had to push my way, kids trailing behind, through smoke and aul fellas and greasy ne'er-do-wells into the bookies to make a bet on the 4.30 at Fairyhouse/Eurovision/sex of Kate's baby, now all I need is a laptop or a smartphone and who's to know what I'm at while I'm stuck at home making the dinner?
No wonder there's been a huge upsurge in online bingo as bored housewives entertain themselves, credit card in hand. And betting companies are now deliberately targeting women who wouldn't have dreamed of putting a delicate nose into a scruffy betting shop. But sure it's all just a bit of fun, isn't it? And as the nice man from Paddy Power says, they see themselves more of an "entertainment" than a gambling company. Well yes, except, as my mother would say, don't go to them when all that laughing inevitably turns to crying.
Declan Lynch of this parish (who has written extensively on our fascination with gambling) made the point on the programme: "All we're hearing is the upside. That it's fun and family entertainment. [But] the casualties are piling up every day . . . it's not something that you have to point out. It will become so obvious that people will wonder why it wasn't pointed out before.
"Gambling is unique in that theoretically you can dig yourself out of a hole using the same shovel you dug yourself in with."
"Theoretically" is the salient word there. As in "theoretically" I could win the Lotto every week if I just bought the winning ticket. Or "theoretically" Jedward could win the Eurovision. It just ain't gonna happen.
I've had a quick look through the main betting sites on my laptop and all of them offer "free money" to start you off on your gambling spree. I find this a bit odd. Down my neighbourhood it would be akin to the local dealer offering you a free bag of heroin to see if he can turn you into a steady customer. Or, in the world of legal addictions, a drinks company giving out free shots at a college piss-up.
Aren't we supposed to disapprove of such blatant manipulation? Will gambling companies set aside a sum of cash to help deal with the inevitable casualties that will result from their "pushing" of what can result in a very serious addiction, with all the misery, hardship and pain that will entail? Will they donate to charities that support people with gambling addictions? Will they whaa?
Or are we just all delighted that Enda was able to announce 800 new jobs at Paddy Power HQ recently – and f**k the begrudgers?
Currently that seems to be our attitude as Nick Leeson, gambler extraordinaire, made plain on the programme. "Sure, feck 'em if they can't take a joke," is what he was told when he entered his exile in Galway after breaking Barings, the oldest merchant bank in the world.
Both Lynch and Leeson made the point that what goes on in places like Paddy Power HQ – with their mathematical experts, their traders and their number crunchers – is similar to what went on in our banks.
"It's the same thing," said Lynch. "I'm amazed that the connection isn't made more often . . . these fellas you see sitting in front of their screens, masters of the universe, are punters [except that] they're betting large amounts of other people's money. However, they've clothed themselves in a veneer of seriousness and profundity which some poor divil scratching out a treble in their local betting office doesn't have. They're doing just what he's doing on a vastly greater scale and causing infinitely more damage."
And, I would have to add, instead of having to face the inevitable consequences of a gambling addiction: shame, loss, disgrace . . . our traders, bankers, investors etc are on a win-win trajectory. They no more have to deal with reality than the kid given the m
Earlier this week, the World Trade Organization ruled that the nation of Antigua will be allowed to turn a blind eye to United States intellectual property rights. Put more technically, Antigua now has the right to suspend its obligations to American copyright, trademark and patent holders.
The ruling stems from a decade-old U.S. decision to prohibit remote gaming -- a move that was extra painful to Antigua, where nearly 5 percent of the population was reportedly once employed in the online gambling industry.
This story has gained extra attention because of the rumor that Antigua plans to launch a Web portal designed specifically to distribute -- for free -- U.S.-copyrighted software, movies, music and the like. The U.S. has called the idea "government-sponsored piracy," while a counsel to the International Intellectual Property Alliance said that "state-sanctioned theft is an affront to any society."
So the tiny Caribbean island has ruffled some feathers.
In this TechNewsWorld podcast, Mark Mendel, an attorney for Antigua in the WTO case, joins us to discuss the situation. Mendel explains the importance of online gambling to the Antiguan economy, as well as what the nation plans to do with its WTO victory. He also discusses the piracy story line, and whether we should expect to see some sort of Antiguan-backed Pirate Bay.
Lady Gaga's former personal assistant claims she was forced to sleep in the same bed as the star.
The Edge Of Glory hitmaker is being sued by ex-employee Jennifer O'Neill, who claims Gaga owes her US $380,000 in overtime payments because she had to spend 24 hours a day with her and share the same bed during The Monster Ball tour in 2010.
According to court papers obtained by the New York Post's Page Six, Jennifer testified: "I was by her side virtually 24 hours a day, seven days a week. That includes sleeping in the same bed with her. Because she did not sleep alone."
When asked if sleeping with Lady Gaga - whose real name is Stefani Germanotta - was a "required" part of her job, she said: "I felt it was.
"Unlike anybody else on that tour, I did not have my own hotel room. I was not asked if I wanted my own hotel room."
There is no suggestion in the transcripts from the deposition that she and the 26-year-old popstar had a sexual relationship, however Jennifer claimed that she had no time to spend time with any one else while working for Lady Gaga.
She said: "I had no privacy, no chance to talk to any family, no chance to talk to any friends, no chance to have sex if I wanted to have sex. There was no chance to do anything.
"And she was quite irate that she couldn't reach me on my phone a couple of times, and was quite angry and asked me why she was paying for this hotel room if I was unreachable.
"Another thing she would do in the middle of the night, would be wake me up to have me change the DVD in the DVD player because she didn't want to watch that DVD any more and she couldn't get up to walk across the room to change the DVD herself."
Lady Gaga dismissed Jennifer's lawsuit in in a video-taped deposition from August last year in New York, saying: "Jennifer is a] f**king hood rat who is suing me for money that she didn't earn. She thinks she's just like the queen of the universe. And, you know what, she didn't want to be a slave to one, because in my work and what I do, I'm the queen of the universe every day.
"She knew there was no overtime, and I never paid her overtime the first time I hired her, so why would she be paid overtime the second time? This whole case is b******* and you know it."
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The nation's gambling capital is taking steps to make sure it is not dealt out of the lucrative online poker market as more states enter the bourgeoning industry.
Soon after the Nevada Legislature begins its four-month session on Monday, lawmakers are expected to begin debating a bill that would let companies offering online poker in Nevada accept wagers from players in other states.
Such betting is essentially banned in most of the nation, but several states, including California and New Jersey, are weighing bills that would legalize some types of online gambling. The Nevada proposal, known as Assembly Bill 5, is intended to position Nevada-based companies to expand their customer base as other states ease restrictions. It's one of a handful of gambling bills lawmakers will be asked to consider but it's by far the most important.
Republican Gov. Brian Sandoval requested the change in his State of the State address in January and the Nevada Gaming Control Board drafted the legislation, which officials see as a potential moneymaker. Nevada currently permits online poker but no other type of internet gambling, so the agreements would apply only to poker.
"I think this is something that could help our state. Otherwise I don't think you'd see this kind of interest in it," Gaming Control Board Chairman A.G. Burnett said. "This is something that would go out and allow our operators to be as competitive as they can be."
The proposal builds on state regulations from 2011 that established a framework for Nevada companies to offer online poker.
The bill would allow Sandoval to reach agreement with other governors to share virtual customers. Subsequent legislation may one day allow the state to join the international global gambling community.
"I would say the ability of the governor to enter into that kind of agreement, whether it is international or domestic, is extremely important," Burnett said.
About 85 countries have legalized online gambling, and online players are believed to wager as much as $35 billion worldwide each year, according to estimates by American Gaming Association lobbyist Frank Fahrenkopf Jr.
The bill comes on the heels of a failure to pass federal online gambling regulations in Congress.
Sen. Harry Reid, D-Nev., and Sen. Jon Kyl, R-Ariz., made a push for sweeping legislation as the congressional session drew to a close in December, but ultimately ran out of time to unite the many factions with a stake in the issue.
Reid, the Senate majority leader, has said he will renew his efforts this year. But statehouses and entrepreneurs already are moving ahead on their own, creating a state-by-state patchwork that industry leaders had sought to avoid.
Nevada's existing online gambling regulations stipulate that companies will not be allowed to accept wagers across state lines until Congress or the U.S. Department of Justice takes regulatory action. Assembly Bill 5 would get rid of that requirement. Burnett said he did not anticipate any conflict with federal law.
Many states began looking into online poker after the U.S Department of Justice issued a letter in 2011 stating that the federal Wire Act of 1961, often used to crack down on internet gambling, only applies to sports betting.
Sandoval asked the Legislature to take quick action on the bill, saying Nevada must continue to be a leader in the gambling industry.
"No opportunity is as rich with promise as our primary industry, gaming," he said.
Gambling has long been an important revenue generator for the state, which does not impose a state income tax. State regulators have granted online gambling licenses to at least 17 casino and technology companies, and more are seeking licenses. These companies may "play in the sandbox" of Nevada's 2.8 million residents and Las Vegas' 39 million annual visitors for a time, but, the industry will eventually need to expand to continue to interest investors and players, said Dave Schwartz, director of the UNLV Center for Gaming Research.
Among the industry players eagerly watching Assembly Bill 5 is Tom Breitling, chairman of Ultimate Gaming, who plans to launch a real-money poker site that will accept wagers from laptops and smartphones within the state's borders this year.
"This is peer-to-peer game, so you want your customers when they go online to actually be able to get a game of poker going" he said.
"It becomes much more exciting if the player pool is 100,000, not 10,000, and if you can actually go online and win $1 million, not $10,000."
Lawmakers will consider several other bills introduced this session on behalf of the Gaming Control Board:
Assembly Bill 7 would expand the Gaming Policy Committee to 11 members by adding a representative from academia. The bill would also allow the governor, who chairs the policy committee, to establish a subcommittee on education. The new subcommittee would consist of no more than five members, and would evaluate all gambling-related educational institutions, among other duties.
Assembly Bill 10 would update state law on counterfeit chips and tools used to cheat. Among other technical revisions, the bill specifies that it is crime to possess counterfeit gambling chips and to manufacture tools intended, but not actually used, for cheating.
Senate Bill 10 would allow the Gaming Control Board to charge casinos and other gambling companies for the costs of investigating overpayments. Currently, companies can ask for refunds of state taxes and fees they have overpaid. This bill would allow the state to bill companies for the costs of evaluating refund requests.
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Online gambling will for the first time fall within the EU’s anti-money laundering restrictions under a Brussels proposal to stiffen sanctions and keep pace with financial criminals.
Michel Barnier, the EU’s internal market commissioner, will this week unveil the latest revamp of anti-money laundering laws aimed at closing loopholes and forcing secretive businessmen to disclose more information to authorities. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email [email]ftsales-support@ft-com[/email] to buy additional rights. Online gambling faces closer EU scrutiny - FT-com
Money laundering is the process by which criminals “clean” funds generated from illegal activities – such as organised crime, corruption, drug trafficking or prostitution – typically through the use of front companies.
Part of the aim is to address some flaws in the existing regime, implement the most recent internationally agreed standards and keep up with trends in financial crime.
For instance, the existing rules only apply to casinos – a big shortcoming the proposal seeks to address by applying the curbs to the entire gambling sector.
Another revision will ensure EU-based public officials are no longer exempt from extra scrutiny. Under the existing regime, more stringent checks are only required when financial institutions handle business for senior public officials residing outside the EU.
Lawyers will also face some new reporting obligations and restrictions, in certain circumstances, on their client confidentiality privileges when handling or advising on transactions outside of legal proceedings.
According to drafts seen by the Financial Times, the European Commission will also propose minimum sanctions across the EU, giving member states the right to impose fines of €5m on individuals or up to 10 per cent of a company’s turnover.
Stricter disclosure rules will also be proposed requiring the declaration of the “beneficial owner” of a company, making it harder for money launderers to hide behind a complex chain of companies.
Traders in high value goods will be covered by the directive when handling cash payments of more than €7,500 – a cut in the present €15,000 threshold, which some member states warned was being exploited by criminals.
In practice this would mean customers paying in cash for jewellery or art that is valued at more than €7,500 would face due diligence checks.
The president of Atlantic City's largest casino workers' union called on Gov. Chris Christie to sign an Internet gambling bill, saying online betting revenue could make the difference between two or more casinos surviving or having to close.
Bob McDevitt, head of Local 54 of the Unite-HERE union, said Thursday he supports the bill as a way to preserve the jobs of thousands of casino workers.
"In the past several years, Atlantic City has suffered as the result of increased competition from neighboring states," he said. "Gaming revenues have declined by 40 percent, causing reduced tax revenue for programs that support New Jersey's seniors, fewer jobs and reduced wages for casino workers as the casinos need fewer employees to staff the facilities. The Internet gaming bill gives New Jersey the opportunity to change that."
McDevitt cited studies projecting that Internet gambling in New Jersey could produce $650 million to $850 million in revenue in its first year, and $1.5 billion annually within a few years.
"We believe that this increased revenue could make the difference between two or more casinos staying open or closing," he said. "Keeping those casinos open means saving more than 3,000 jobs. This bill will allow Atlantic City to compete more effectively, increase tax revenues and save thousands of jobs."
The New Jersey legislature passed an Internet betting bill in December; Christie has about a week left to act on it.
He vetoed a similar bill in March 2011, citing concerns about its constitutionality and the proliferation of back-room Internet betting parlors. The governor has given no indication whether changes made to the most recent bill will be enough to win his support.
The bill would legalize the online playing, for money, of any game currently offered at the 12 Atlantic City casinos, including poker. In order to comply with a requirement of the state Constitution that casino gambling be conducted only in Atlantic City, all computers, servers, monitoring rooms and hubs used to conduct the online gambling must be located either in a restricted area on the premises of a casino, or in a secure facility inaccessible to the public off the grounds of a casino but within the city limits of Atlantic City.
The location issue was one that Christie cited when he vetoed the first Internet gambling bill in 2011. But supporters of the bill have since solicited testimony from top legal scholars that having the computer and other equipment located in Atlantic City would be enough to comply with the state Constitution.
The bill would tax Internet gambling revenues at 10 percent, up from the 8 percent that the casinos pay for money won on their premises.
Last year’s London Affiliate Conference was a huge success with over 2,500 people in attendance, and the conference organisers are back for the 7th annual London Affiliate Conference to commence on February 7th 2013 for four days. The iGB Affiliate Awards will be held during the London Affiliate Conference on the evening of the 8th of February.
The online gambling industry depends on the affiliates to maintain the flow and the interest in the industry and this conference and award ceremony applauds the efforts of these mostly unseen individuals. The iGB Affiliate Awards is expected to attract over 500 of the best and most accomplished people in this industry. The aim is to recognize and share access to these people and their novel experience. New awards recognizing the contribution these people give to the industry will be introduced this year at the gala night. One called the Most Improved Affiliate Programme awards the improvement, in service, presentation, and function in the past year. Affiliates are given the opportunity to attend the conference for free to be held for the second year at Old Billingsgate in London.
The sumptuous event starts with cocktail reception followed by a three course meal then entertainment with a hilarious comedian as the host for the main event. Of all the awards there will be the most coveted Best Overall Affiliate Award won last year by Oddschecker-com. While there are many sub categories awards for those involved in poker, casino, sports, bingo, and financial the Best Overall Affiliate Manager for the year which was won by Nigel Ridgway of bet 365 last year is sought after by many in the running. The Best Affiliate Programme also was won last year by bet365. Rounding out the list of awards that are scheduled to be given are the Best iGaming Affiliate Network Award, The Lou Fabiano Award For The Best iGaming Community and the Best Payment System.
London Affiliate Conference Honours Online Gambling Industry
Standby companies such as International Game Technologies a US based slot machine manufacturer has been delving into other aspect of the gambling world such as social online betting. The firm spent approximately $ 500 million dollars on the social gaming sector with the purchase of Double Down a provider of games on the social network Facebook. IGT hasn’t been fairing that well since the acquisition with a substantial drop in revenues since the purchase. It was suggested by an investment group that the "incredibly expensive" acquisition has caused the company to lose its strategic focus and should be concentrating on the Asian market instead of barking up the social gaming tree. Mariya Barnes a spokesperson for IGT said they was preparing a response to some of the shareholders concerns.
Patti Hart, Chief Executive Officer for IGT said that thing on the social gaming front were doing well and was showing considerable growth recently up 5 percent over last year. IGT Chief Executive Patti Hart said in November that the company's social gaming unit was growing faster than expected. Interactive gaming contributed about 7 percent of overall revenue in 2012. Some investors were less critical of the company’s move to social online gambling saying the acquisition could "almost be viewed as a Research & Development expenditure." The move into other mediums is for some investors just risky business, for others the experience gained and the diversification is a welcomed move forward that is necessary for every successful business venture.
IGT's Move Into Social Online Gaming Criticized