Monday, September 24, 2018

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GBG forms partnership with the European Casino Association

Brussels, 24 September 2018 – The European Casino Association (ECA) has announced a new partnership with GBG, global identity data intelligence specialists

GBG forms partnership with the European Casino Association

Casino News Daily
Poker Tournaments Starting September 24-30

Fall is officially upon us and a new batch of extremely exciting poker events is set to arrive in its wake. This week’s live tournament poker overview includes events across Europe, Asia, and North America. All four promise unparalleled thrill and massive monetary prizes and all four are great for challenging one’s level of poker mastery.

Here are four of the major tournaments set to begin over the next few days and information about what one might expect from them.

PokerStars Megastack Namur

The city of Namur in Belgium will be host to the next PokerStars-branded poker festival. The PokerStars Megastack is set to kick off today at Casino de Namur and to run through the end of the month. The tournament will feature multiple exciting opportunities for players to test their skills and challenge opponents who have mastered the game at different levels.

The festival will include four tournaments and several satellites to the Main Event. And action at the host casino will kick off namely with the PokerStars Megastack Main Event. The tournament will run from today all the way through September 30 and will feature six starting flights and two more days of action. It will be a €170 buy-in event and will start off with a guaranteed prize pool of €100,000.

Another thrilling tournament on the Megastack festival’s schedule will be the €550 High Roller. That one will run on September 29-30.

WPT DeepStacks Vietnam

The WPT DeepStacks is next heading to Vietnam for another exciting festival that will bring together some of Asia’s best grinders as well as guests from around the world. The festival will take place from September 26 to October 4 at Pro Poker Club in Ho Chi Minh and will feature a plethora of events, with those varying in buy-in fees.

One of Asia’s most thrilling destinations will welcome the WPT DeepStacks series with a 2-day Welcome WPT Vietnam VND7,700,000 tournament. As for the highlight tournament, the VND22,000,000 Main Event with a guaranteed prize pool of VND8 billion it is scheduled to take place on September 28 through October 2.

The VND44,000,000 High Roller is another event worth being mentioned in our overview. The tournament will take place over three days – October 1-3 – and will feature two starting flights and one more day of play. It will allow a maximum of 2 re-entries per starting flight and will certainly offer tons of quality poker action.

Wynn Fall Classic

For those looking for thrill and excitement on the Las Vegas Strip, Wynn Las Vegas is the right place. This year’s edition of the highly popular Wynn Fall Classic is kicking off September 26 and will take place all the way through October 15.

Its schedule includes 16 different tournaments, 15 of which will be No-Limit Hold’em ones. There will also be one Pot-Limit Omaha tournament within this classy festival for fans of that poker game.

The Wynn Fall Classic will start with the $550 No-Limit Hold’em Seniors tournament. The event will be a single-day one and will feature a guaranteed prize pool of $50,000. It is important to note that most of the events within the festival will be single-day ones. There will also be one two-day event, two three-day ones, and two four-day ones.

The Main Event will be one of the four-day tournaments. It will start on October 12 and will be completed on October 15. Interested players will be able to take part in it by paying a buy-in fee of $1,600. The tournament will feature a guaranteed prize pool of $500,000 that will hopefully be crushed.

partypoker MILLIONS Dusk Till Dawn, Nottingham

partypoker’s MILLIONS live tournament brand is next landing in Nottingham for more than a week of unequaled poker action. The Dusk Till Dawn festival will begin on September 29 and will end on October 7. As one can tell by the name, the Dusk Till Dawn casino, a popular poker meeting hub, in Nottingham will play host to this major event.

The festival is set to feature more than £7 million in guaranteed prize money. This speaks volumes about the quality of poker that players and spectators will be able to witness at the host venue.

The £1,100 No-Limit Hold’em MILLIONS UK Open will put the beginning of action within the festival. The event will feature a guaranteed prize pool of £1 million. There will be five starting flights and three more days of play.

The £5,300 Main Event will be the next big tournament to kick off. It will take place on September 30-October 6. There will be at least £5 million up for grabs for those who run deep enough into this prestigious tournament.

The £550 MILLIONS UK Finale with five starting flights and the £10,300 High Roller are two other exciting events that should be mentioned. The former will take place October 4-7 and will feature a guaranteed prize pool of £500,000, while the latter will run from October 5 through October 7 and will feature a guaranteed prize pool of £1 million.

The post Poker Tournaments Starting September 24-30 appeared first on Casino News Daily.

Poker Tournaments Starting September 24-30

Sunday, September 23, 2018

Casino News Daily
What’s Next for Gambling Tech Giant Playtech?

It has been an eventful year for Playtech and a particularly turbulent one at the same time. The gambling technology company, founded by Israeli businessman Teddy Sagi in 1999, saw its share price fall nearly 50% over the past 12 months and recorded a 34% drop in adjusted profit in the first half of the year. In addition, news emerged that a brand-new Playtech investor is pushing for a corporate governance overhaul and is not very happy about Mr. Sagi’s involvement in the company.

Earlier this year, the tech giant, which has for years been supplying major operators with a variety of products, completed the purchase of Italian gambling company Snaitech for €846 million. In its half-year results, Playtech CEO Mor Weizer attributed the company’s regulated revenue growth namely to that acquisition deal.

However, the debate over the introduction of massive restrictions on the distribution of gaming machines around Italy is becoming more and more intense with each day passing and this could cast heavy clouds over what Playtech hoped would be a purchase that would strengthen its footprint across the regulated gambling space. Snaitech derives nearly half of its overall revenue from the gaming devices.

Most recently, Playtech offloaded its entire stake in CFD trading platform Plus500 for £176 million, stating that it would use proceeds from the deal to reduce its debt and for general corporate purposes.

What is next for the gambling tech giant? The company is facing regulatory pressure and competition in key markets and will clearly have to direct its focus to where it can reap the greatest benefits. In addition, changes are clearly coming for Playtech, but it is yet to be seen how these will affect its operations, profitability and its lure to investors.

Shaky Profitability and Share Price Drop

Playtech has long been targeting a FTSE 100 status. However, it was forced to abandon these ambitions after issuing two profit warnings over the past year and reporting a 34% slump in adjusted profit for the first half of the year. The profit warnings and the eventual significant drop resulted in the company’s share price falling by half over the past 12 months.

Playtech attributed its shaky profitability to its operations in Southeast Asia. The gambling tech giant has maintained its footprint in that particular region for nearly a decade. However, growing competition in China combined with heavy pressure in Malaysia, where the local government has ramped up efforts to crack down on unregulated gambling, have had quite a negative impact on Playtech’s performance over the past year. In Malaysia, in particular, the company saw a significantly lower activity this year compared to two years ago.

On a more positive note, regulated markets offset the losses suffered in Asia. Excluding Asian revenue, the company recorded a double-digit growth during the first half of the year. Playtech further pointed out that it would look to focus on regulated markets which are traditionally more stable and that it expects to generate around 80% of its overall revenue for 2018 from such regulated markets. Around 69% of Playtech’s half-year revenue came from regulated markets, as reported by the gambling software developer.

New Shareholders with New Demands

News emerged last month that SpringOwl Asset Management had invested more than $100 million into Playtech over the span of several weeks, thus acquiring a 5% stake in the company. The New York-based hedge fund is led by US investor Jason Ader, who among other things is known for playing a key role in bwin.party Digital Entertainment’s sale to GVC Holdings. Mr. Ader used his holding in bwin.party to press for the gambling operator’s sale following a prolonged proxy fight with the company’s board which involved him criticizing board members for failing to properly execute the 2010 merger of bwin and Party Gaming, which resulted in a 60% decline in share price.

According to media reports, Mr. Ader is expected to use his newly acquired stake in Playtech to demand disposal of assets or even sale of the gambling tech company. However, Playtech’s corporate governance is understood to be SpringOwl and its leader’s main focus for the time being. Mr. Ader has reportedly expressed concerns over the fact that Alan Jackson has been serving as the company’s Chairman for too long. In addition, the US investor has pointed out that Mr. Sagi’s continuing association with the gambling tech giant he had found is “a negative” for Playtech. The company’s founder currently holds a 6.3% stake in it after selling down his controlling stake bit by bit over the past several years. Mr. Ader has recently told Reuters that he does not have “a sense that the future of this company includes Teddy Sagi”.

In a separate round of news, it became known that London-based privately owned hedge fund Odey Asset Management has quietly bought a 5% stake in Playtech. Reports also emerged that the hedge fund’s co-founder, British businessman Crispin Odey has been in touch with Mr. Ader. Together the two investors own 10% in Playtech, which is more than enough to secure them with the influence required to press for important changes, including a corporate governance overhaul.

According to the latest reports on the topic, a change in the company’s leadership could indeed be asked for by Mr. Ader.

Plus500 Stake Sale

As mentioned above, Playtech sold recently its entire stake in CFD trading platform Plus500 for the amount of £176 million. The company said in a statement that it would use the money it has raked in from the sale to reduce its debt and for other corporate purposes.

The move came days after five of the trading platform’s founders disposed of 9.4 million of their shares for the approximate amount of £145 million, citing personal reasons and “desire to diversify their investments” as the main reasons for their decision. Playtech previously made a £459-million offer to purchase Plus500. However, concerns raised by the UK Financial Conduct Authority combined with pressure from the trading platform’s investors, with Odey being one of them, resulted in the deal’s failure.

Playtech’s recent disposal of its stake in Plus500 has actually been applauded by Mr. Ader. The US investor has pointed out that the gambling tech firm should continue disposing of its financial businesses and focus solely on the gambling portion of its operations as its financial services holdings have proved to be a major distraction.

Conclusion

Bearing in mind the recent developments, it seems that Playtech’s eventful streak is far from over. With brand-new and very demanding investors, the company could be headed toward a sale, a disposal of some of its assets, and/or a corporate governance overhaul. In addition, it would be looking to improve its profitability by directing its focus mainly on regulated markets and gradually reducing the influence unregulated markets have on its business. Last but not least, there clearly will be pressure for Mr. Sagi to exit the company completely and it is rather curious to see whether and how this would happen.

The post What’s Next for Gambling Tech Giant Playtech? appeared first on Casino News Daily.

What’s Next for Gambling Tech Giant Playtech?

World Casino News
Mississippi casino revenue spikes as sports betting debuts

The regulations having taken effect on July 22, Mississippi’s launch of sports betting is already proving to benefit brick and mortar casinos in the state where overall casino revenue increased significantly in August. PASPA unconstitutional: In an effort to be among the first states in the nation to legalize sports betting, the Mississippi Gaming Commission […]

Mississippi casino revenue spikes as sports betting debuts

World Casino News
Erkut Yilmaz earns WPT Borgata Poker Open win

A total of 1,075 players registered to compete in the WPT Borgata Poker Open, with Erkut Yilmaz ending up the event champion. Yilmaz would hold the chip lead going into the final day and after defeating TK Miles in the final round, would eventually earn the first-place finish. Tough Competition: Several big name players were […]

Erkut Yilmaz earns WPT Borgata Poker Open win

Casino News Daily
November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller

Poker action at the Seminole Casino Coconut Creek in Florida is heating up as the WSOP Circuit stop currently taking place there is approaching its final stages and last events on the schedule are being played.

The $2,200 High Roller certainly was one of the most exciting tournaments to take place within the poker festival. The event was completed a few days ago and was taken down by quite a poker celebrity. Jerry Wong, a player from the area, defeated a field that was comprised of some seasoned poker pros to grab the title and the first-place prize of $48,300.

Wong’s triumph was also accompanied by his first-ever piece of WSOP jewelry. Despite being very active on the live poker scene, a gold bracelet from the WSOP and a gold ring from its sister brand, the WSOP Circuit, had long eluded the popular poker pro.

However, it should be pointed out that his hefty poker resume includes an eighth-place finish in the 2016 WSOP Main Event, among other things. This summer, the player cashed in five WSOP tournaments and made three final table appearances.

As for his performance in the $2,200 High Roller at the Coconut Creek casino, Wong successfully navigated through a field of 69 entries over two days of action. The player’s road to victory included a star-studded final table that featured another November Niner – Josh Beckley – three-time gold ring winner Peter Vitantonio, and poker veteran Chad Eveslage, among others.

Final Table Highlights

Wong hopped into the final table holding the chip lead with 560,000 in chips. Beckley was his nearest competitor with 360,000. Wong never really lost his advantage over the rest of the final tablists. The player said that the table draw helped him a lot as he had tougher players to his right, and weaker ones to his left. That created nice opportunities for the player to further amass chips and he took great advantage of those.

By the time there were just five players left in contention, Wong had control over more than a half of all chips in play. And when the field was reduced to just him and his heads-up opponent Mack Ham, the eventual champion had 1.7 million of all 2 million chips in play.

While Wong never let go of the chip lead during the two-handed match, Ham fought fiercely and posed quite some challenge to his opponent. However, the High Roller gold ring was Wong’s to win. Ham walked out in second place for a cash prize of $29,848.

As mentioned earlier, the $2,200 buy-in High Roller drew 69 entries who generated a prize pool of $138,000. The top seven finishers received a share of the money, with min-cashes starting from $7,090. The WSOP Circuit stop at the Seminole Casino Coconut Creek will run through September 24 when the $1,700 is set to be completed.

The post November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller appeared first on Casino News Daily.

November Niner Jerry Wong Wins WSOP Circuit Coconut Creek High Roller

Saturday, September 22, 2018

Casino News Daily
Proposed Tower at Sydney Casino Draws Ire of Residents

Australian casino operator The Star Entertainment Group has recently presented the design for the planned expansion of its Sydney-based property. While the project is expected to create multiple jobs and generate significant revenues, it has faced quite some criticism mainly due to the fact that it involves the construction of a 237-meter tower, local news outlet the Brisbane Times reports.

The new building that has been put a A$500-million price tag will be located at the site of the company’s Pyrmont, Sydney casino complex. Among other things, it will feature a luxury 220-room Ritz Carlton hotel, bringing back the popular hospitality brand for the first time in several decades. In addition, the tower will house 204 residential apartments and multiple food and beverage facilities.

It will aim to compete Crown Resorts’ A$2-billion Barangaroo casino resort, currently under construction and slated to open doors in the early 2020s. The Star’s property will also look to attract Chinese customers, a valued group of customers due to their spending habits. In addition, the company has promised to secure public transport upgrades and renovation of its existing facilities at the site as part of the A$500-million project.

However, the scheme has seen mixed reactions from residents of the area and New South Wales politicians.

Patricia Forsythe, the Executive Director of the Sydney Business Chamber, was quoted saying that Sydney needed “iconic” buildings and that The Star’s proposed project was hitting the mark. She also added that the service industry was something that Sydney’s economy was anchored in and they cannot be half-hearted about The Star’s development.

Concerns

Despite the anticipated benefits from the plan, state politicians and residents of the area where the proposed tower would be built have voiced multiple concerns over the impact a high-rise building will have on the local community.

Some of the concerns revolved around the fact that the 200-plus-meter tower would overshadow surrounding buildings, would cause reflective glare, and would obscure views. According to Alex Greenwich, a Sydney independent member, the proposed building was an “aesthetic disgrace” that would have serious impacts on local communities.

The development plan needs approval from the Independent Planning Commission as more than 25 submissions that oppose the tower have been submitted to the NSW Department of Planning and Environment. Submissions can be presented to the department until October 9.

The Brisbane Times writes that the City of Sydney has not commented on the project yet, but a spokesperson for city Lord Mayor Clover Moore has said that he was concerned about the plan and has called an urgent briefing to discuss it.

Other comments on the proposed high-rise building were more supportive, citing the economic potential a development of this kind has as it would create jobs, generate revenues, and cater to a demand for hotel rooms as Sydney’s and NSW’s tourism industry is hoping for an increased flow of international tourists.

The post Proposed Tower at Sydney Casino Draws Ire of Residents appeared first on Casino News Daily.

Proposed Tower at Sydney Casino Draws Ire of Residents

Casino News – Focus Gaming News
Landmark Macau gets rebranded
Landmark Macau gets rebranded

The casino hotel has been renamed as New Orient Landmark Hotel after it was sold by Macau Legend Development.

The post Landmark Macau gets rebranded appeared first on Focus Gaming News.

Landmark Macau gets rebranded

World Casino News
FanDuel Incorporated reverses New Jersey non-payment decision

After earlier refusing to pay out on twelve bets it declared had been placed during an 18-second computer glitch on Sunday, New Jersey sportbook operator FanDuel Incorporated has now reportedly relented by announcing that it intends to honor every one of the contentious wagers. Decision includes $82,000 won on NFL wager: According to a Thursday […]

FanDuel Incorporated reverses New Jersey non-payment decision

Casino News Daily
Erkut Yilmaz Joins WPT Champions Club with Borgata Poker Open Victory

The WPT champions club has a brand-new member and his name is Erkut Yilmaz, a player from Sacramento, California. Yilmaz topped the field of this year’s WPT Borgata Poker Open $3,500 Main Event for a first-place cash prize of $575,112 after putting up a great show in the final stages of the tournament.

The final day of the Main Event was played on Friday at the host venue, Atlantic City’s Borgata Casino. Six survivors returned to play down to a champion. It was namely Yilmaz who led the pack of six with a massive chip advantage over everyone else left. The player had a total of 21.575 million in chips at the start of final day action, good for 144 big blinds and well ahead of his nearest competitor. Oleg Schnaider was that nearest competitor with 7.75 million/52 big blinds.

A long playdown period on the previous day, when players had to whittle down the field to the final six, provided for quick action on the final day. Players began falling out in the very early stages of that last day of the race. The first elimination occurred on the 11th hand of play and it did not take long before the heads-up phase was reached. It is important to note that Yilmaz was the player to dominate action throughout the whole final table.

Heads-Up Recap

While action during the initial stages of final-day play unfolded quickly, the same cannot really be said about the heads-up duel. Yilmaz played against poker pro TK Miles for the title. The match kicked off with the eventual champ holding the chip lead. However, at one point, Miles managed to outmaneuver his opponent and assume the chip leader status for a short while.

Yilmas quickly regained control over the majority of chips in play and from that stage on, the player never looked back. He weakened his opponent’s stack and defense, until Miles did not have much to fight with.

On what turned out to be the final hand in play, Miles limped from the button and Yilmaz checked. The [5h][4s][3s] flop arrived to see Yilmaz check and Miles bet 800,000. Yilmaz raised with an all in. Miles called for his last 15.8 million.

Miles turned over [Kd][5s] to Yilmaz’s [6d][3d]. The [6h] on the turn and the [4h] on the river sealed it for this year’s Borgata Poker Open Main Event. Miles went out as the runner-up. The player received $383,399 for his efforts and for running so deep into one of the most popular tournaments to be taking place annually.

As mentioned above, Yilmaz collected the lion’s share of the prize pool, good for $575,112. His prize also included a $15,000 seat into the season-ending WPT Tournament of Champions.

This year’s edition of the Borgata Poker Open drew a field of 1,075 entries, who generated a prize pool of $3,441,075. The top 136 finishers received a share of the money, with min-cashes starting from $3,049.

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Erkut Yilmaz Joins WPT Champions Club with Borgata Poker Open Victory

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