Reports from the UK indicate that the extreme weather conditions being experienced this winter have had one positive industry effect - more people are staying home and entertaining themselves with microgaming casino online gambling.
With freezing temperatures and deep snow in many parts of the British Isles causing cancelled sports event and keeping folks at home, online gambling companies are reporting noticeable increases in business. Betfair Poker is among the firms who have scored in the trend, reporting a 20 percent increase in UK player activity since the bad weather set in with a vengeance.
The online division of William Hill plc has also described its player traffic over the bad weather period as “surging”.
Whether good or bad, nothing lasts forever, and UK meteorologists are predicting that the extreme weather conditions should improve in the near future.
Station internet casinos has accused Boyd Gaming Corp. of “attempting to improperly manipulate the bankruptcy process” in an effort to “pick off and dismantle its chief competitor’s assets.”
In a filing Thursday with the U.S. Bankruptcy Court in Reno, Station Casinos said Boyd Gaming does not have standing in the online gambling company’s Chapter 11 proceedings.
Station Casinos asked that Boyd Gaming’s request that a third-party examiner be appointed to review Station Casinos’ financial records be denied.
“Boyd is attempting to use an examiner to gain access to (Station Casinos) confidential business information to disrupt (Station Casinos) business and obtain for itself a competitive advantage,” according to the filing.
Station Casinos, which filed for Chapter 11 bankruptcy protection at the end of July, asked the court for a four-month extension to exclusively propose a plan to reorganize its finances. The current deadline is Nov. 25. The motions will be argued in Reno on Nov. 20.
Boyd Gaming, which was rejected in February when it offered to purchase a large portion of Station Casinos’ 18 Southern Nevada properties for $950 million, entered the fray in a 38-page filing with the bankruptcy court on Nov. 1, claiming it has purchased some of Station Casinos debt.
“We haven’t seen any evidence of it,” online casinos Chief Development Officer Scott Nielson said Thursday.
Boyd Gaming spokesman Rob Meyne said the company disagreed with Station Casinos’ comments in the motion.
“Station had previously characterized Boyd as not being serious in our interest in buying Station’s assets,” Meyne said. “One purpose of our motion was to correct this mischaracterization and to make our serious interest in acquiring these assets crystal clear. The bankruptcy court will determine how these issues are resolved and we look forward to participating in that process.”
In Thursday’s filing, Station Casinos said Boyd’s request that an examiner be appointed is premature.
The company is working to develop a reorganization plan with its creditors that is in the best interests of the stakeholders, but the complexity of the company’s debt structure is the reason additional time is needed.
Nielson said the company spelled out the inner workings of the reorganization negotiations in the filing so that observers can understand the process.
“The bottom line for us is that we should be given a fair opportunity to reorganize our company and protect jobs,” Nielson said.
Boyd Gaming, in its motion, said it did not oppose Station Casinos being given more time to file its reorganization plan. However, Boyd wants an outside examiner to look at Station Casinos books in order to share information. The rival locals casino operator said it can’t make another offer for Station Casinos until the company’s finances and properties can be evaluated.
Station Casinos said the bankruptcy process is not far enough along to call for an examiner. In its filing, the company said the appointment “would be disruptive and an impediment to the (company’s) orderly reorganization.”
The cost of recent legal troubles has forced embattled nightclub owner Priv? Las Vegas to file for Chapter 11 bankruptcy protection.
The Miami-based internet gambling company owns the Priv? and its sister ultralounge, The Living Room, at Planet Hollywood Resort. The filing was made in the U.S. Bankruptcy Court in the Southern District of Florida on Wednesday.
Priv? Las Vegas listed less than $50,000 in assets against $1 million to $10 million in liabilities, according to court filings.
The list of top online casinos unsecured creditors include $2.6 million to Miami-based Vegas Nightclub Partners, $1.6 million to ADT Construction, and $1.6 million to William Richardson of Las Vegas.
Priv? principal owner Roman Jones said in a text message that the clubs will remain open. He didn’t comment further.
Bankruptcy Judge A. Jay Cristol approved an emergency motion Thursday allowing the clubs to continue paying wages and benefits to 100 employees and 14 independent contractors. A Chapter 11 bankruptcy allows a business to negotiate with its creditors while remaining open for business.
The nightclubs are operating under a 90-day liquor license while Las Vegas police continue background checks on the new online casino owners and management team.
The club was shut down by the county in late July after its liquor license was revoked because the resort and club were found to be failing to “abide by the duties of a liquor licensee.” Priv? reopened four weeks later under a 30-day license after the new owners were in place.
The clubs were cited for three violations in 2008 by Clark County Business License Department. Violations included allowing topless and lewd activity to take place on site.
Priv? has agreed to reimburse Planet Hollywood $375,000 of a $500,000 fine that was issued by casino regulators, who said the resort did not “maintain sufficient control over” the nightclub.
The bankruptcy filings list $690,000 in claims owed to Planet Hollywood Resort. Calls to Planet Hollywood and Clark County officials were not returned by deadline.
Digitote, a online gambling provider of advanced sportsbetting software and ancillary web development and back office applications, has successfully achieved the Certified Software accreditation seal from independent online poker player protection and standards organisation eCOGRA.
Currently eCOGRA are working on an ongoing basis with over 25 leading software providers and 25 top online casino and poker room operators. 13 Software providers have achieved accreditation for their software in the form of the eCOGRA Certified Software seal. 145 online gaming sites are accredited with the eCOGRA Safe and Fair seal.
Digitote, which has offices in Germany and the Isle of Man, hosted a full eCOGRA audit and inspection team at its premises earlier this year, during which every aspect of its software development activities was assessed as meeting the standards of both the European Gaming and Betting Association and the eCOGRA eGAP requirements.
“Conformance with the EGBA Standards and eGAP requirements has been assessed through the review of controls and substantive testing under the latest EGBA Standards, approved in October 2008, as well as the latest eGAP requirements, approved on 28 January 2009,” the team leader noted.
Following the team’s exhaustive report, eCOGRA’s Independent Directors on its Seal Compliance Committee approved the award of the seal this week, empowering Digitote to display the seal as a mark of its efficiency and commitment to fair and safe online sportsbetting.
Andrew Beveridge, Chief Executive Officer of eCOGRA, said that Digitote’s success in meeting the required standards would make it possible for companies using its Xturf software to apply for operator inspection and certification with eCOGRA in the future.
“The EGBA standards are particularly high and a good fit with our own eGap requirements, and by achieving these levels Digitote sends a strong and positive signal regarding its capabilities and professional commitment,” said Beveridge.
“Our audit confirms that the development, implementation, maintenance and security of Digitote’s product and back-office systems are representative of industry best practice and technology standards applicable to software suppliers.”
Digitote director G?nter Boyks said he was pleased with the successful outcome of what had proved to be a very thorough inspection of his company’s facilities and systems.
“Apart from its value as a measure of Digitote’s professional efficiency and commitment to fairness and quality, the achievement of this eCOGRA accreditation provides a practical assurance to both ourselves and our clients that as a business we meet the most demanding industry standards,” he said.
World Series of Poker Commissioner Jeffrey Pollack resigned his role with the internet gambling tournament just three days after concluding its second-most lucrative competition in the event’s 40-year history.
Pollack, 45, said Thursday he plans to “explore new business challenges” after completing a four-year run as the World Series of Poker’s driving force. Today will be his last day on the job.
“My future is a blank canvas,” Pollack told the Review-Journal. He founded the Sports Business Daily and once worked as political consultant before branching off into online gambling sports marketing.
The World Series of Poker, which is owned by Harrah’s Entertainment, is now a national and international event. Circuit tournaments are held at Harrah’s online casinos around the country. The 2-year-old World Series of Poker Europe is played in London.
The recently concluded World Series of Poker drew a record 60,875 entrants from 115 different nations and territories who competed for more than $174 million in prize money over the 57-event, 50-day extravaganza. The 2008 tournament awarded $180.7 million in prize money.
Harrah’s earns between 4 percent and 10 percent of the tournament’s entry fees, depending upon the buy-in amount for a particular event. Harrah’s collected 6 percent of the entry fees in the $10,000 buy-in Main Event, which drew 6,494 players this year.
During Pollack’s four years, the World Series of Poker prize pool was a combined $675 million, nearly double the $367 million total prize pool of the first 36 tournaments combined.
Pollack, who worked in marketing with NASCAR and the National Basketball Association, joined the World Series of Poker in 2006 and created the position of commissioner to help the tournament gain st atus with professional sports leagues. Last year, the World Series of Poker was named the seventh most admired sports brand by a North American sports survey firm.
He also paved the road for the tournament to pick up sponsorships from American companies, such as Miller Brewing Co., Corum Watches, Kraft Foods and Jack Link’s Beef Jerky.
“It’s been a very good run and I’m proud of the growth that the tournament, and poker for that matter, have experienced,” Pollack said. “I came into this role with a certain set of objectives and now, there’s a sense of accomplishment of how the World Series of Poker has expanded.”
The move comes six months after Harrah’s created Harrah’s Interactive Entertainment, a subsidiary that is overseeing the company’s efforts to expand the tournament overseas and online. The World Series of Poker was moved into the division.
Former online gaming executive Mitch Garber is the division’s chief executive officer and Pollack was appointed president.
In an e-mailed statement, a spokesman for the tournament said Pollack’s contributions were appreciated.
“The World Series of Poker remains the market leader with this year’s tournament exceeding all expectations, and we are well-positioned for the future. There is no intention at this time to replace the Commissioner role,” according to the statement.
Pollack came aboard in time for the 2006 tournament. During his tenure, he sought to increase both player and fan experience and increased the emphasis on the gold championship bracelet, which is awarded to individual event winners.
Pollack said the tournament made moves to increase the participation of women, such as creating a women’s only championship-bracelet event.
“We’ve done a lot to honor the game’s history and tradition, such as adding a players advisory council,” Pollack said. The tournament also brought gaming pioneer Jack Binion back into the fold as an adviser.
On the business side, Pollack forged a relationship between cable television giant ESPN, the World Series of Poker and Harrah’s, that has contributed to the tournament’s popularity. ESPN has a 12-year agreement with Harrah’s to televise the World Series of Poker.
In the last two years, the World Series of Poker broke with tradition and delayed the final table of nine by four months, holding the competition in November rather than July. The move allowed ESPN to televise the results on same-day, taped-delay basis and increased the live-audience participation.
“We changed the paradigm for live and televised poker,” Pollack said. “As a result, injected the World Series of Poker deeper into pop culture.”
The appointment of Philip Satre on Thursday as chairman of International Game Technology’s board of directors completes a corporate makeover of the slot machine manufacturing giant that began last year.
Satre, 60, who retired in 2005 from Harrah’s Entertainment after 25 years with the online casino operator, will take over as Reno-based IGT’s chairman Dec. 1. He replaces TJ Matthews, the company’s former chief executive officer, who will remain on the board as a director.
When Satre joined IGT’s board in January, speculation was immediately raised that he was destined for a larger role.
Satre, who lives in Reno, was considered the driving force behind the initial growth of Harrah’s and the internet casino industry during his tenure as the company’s chairman, president and CEO.
He held several executive positions with the company, starting in 1980, and helped Harrah’s expand beyond Nevada into regional gaming markets. Satre retired before Harrah’s $9 billion buyout of Caesars Entertainment was completed in 2005.
In April, Matthews gave up the CEO duties to board member Patti Hart, a longtime technology industry executive.
“This is a positive for the company,” Stifel Nicolaus gaming analyst Steven Wieczynski told investors. “Phil Satre is very well-respected in the gaming community. At this point we are unsure what his primary focus will be, but we are confident he has the ability to lead the company and will bring a unique gaming perspective to complement Patti Hart, who has less gaming industry experience.”
Satre, who is also the chairman of NV Energy’s board of directors, said the trend in corporate America is to split the chairman and CEO positions, with the chairman being a person from outside the company who doesn’t make day-to-day decisions or draw a daily paycheck.
He said he discussed taking the IGT board position with NV Energy CEO Michael Yackira.
“These are two very different and important companies to Nevada,” Satre said. “Both have substantial operations in Las Vegas and Reno with significant work forces.”
Union Gaming Group Principal Bill Lerner said the two chairmanships are complementary.
“They are two different, nonconflicting industries. It’s not an issue,” Lerner said. “I think Phil’s experience will fit in nicely with the current leadership.”
IGT went through several cost-cutting moves in the past 18 months, reducing work force levels through layoffs and voluntary buyouts and trimming several departments. IGT said the cutbacks would save the slot maker more than $100 million annually. Company revenues and earnings slowed as the recession caused casino operators to halt purchases of new slot machines.
“Despite the challenges facing our industry today, I am very optimistic about the future of gaming and the company’s future,” Satre said.
On Wednesday, IGT said it would take $77 million in noncash charges when the company announces fourth-quarter earnings on Nov. 5. IGT said it didn’t expect the charges to affect its ability to comply with debt requirements.
With Satre’s appointment as chairman, IGT has completed an upper management shift that began last year with the retirement of several longtime executives.
Hart said she was happy Satre agreed to become chairman.
“Phil Satre brings a tremendous wealth of gaming industry experience and, most importantly, a customer’s perspective to his new position, which will benefit IGT now and for many years to come,” Hart said. “I have been very impressed with Phil’s contributions since he joined IGT’s board earlier this year.”
As reported by The Columbus Dispatch: “Proponents of expanded online gambling in Ohio hammered home arguments yesterday that internet casinos would create thousands of jobs and millions of dollars in tax revenue at a time the state’s economy desperately needs relief.
“Opponents, however, said a measure on the Nov. 3 ballot would impoverish people who become addicted to online gambling, drain profits from existing businesses and shortchange local governments by levying a too-low tax rate.
“The sides faced off yesterday for the first time in a public debate over state Issue 3, which would allow casinos in Columbus, Cleveland, Cincinnati and Toledo. The forum was sponsored by the Columbus Metropolitan Club.
“The ‘yes’ side in the debate, represented by former Cincinnati Mayor Charlie Luken and Ohio Fraternal Order of Police Secretary/Treasurer Mark Drum, acknowledged moral opposition to gambling but said Ohioans already spend as much as $1 billion wagering in other states. The two also reiterated claims that Issue 3 would create as many as 34,000 jobs building and running the four casinos, as well as other jobs connected to the casinos.
“The ‘no’ side, represented by the Rev. John Edgar of the United Methodist Church and Franklin County Commissioner John O’Grady, said casinos breed crime, divert money from established businesses and prey on vulnerable people. They said claims of new jobs shouldn’t be trusted unless casino proponents also reveal how many jobs would be lost as gamblers have less money to spend outside casinos…”
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Media reports from Cape Town, where the football World Cup team draws take place Friday, indicate that the international gambling governing body FIFA is taking the threat of corruption seriously, enlisting the aid of Interpol to find and prosecute match-fixers.
FIFA used the opportunity presented by the gathering to draw teams to call an extraordinary meeting where counter-corruption gambling strategies and match control issues were considered.
The meeting was briefed on the involvement of the International Police Association (Interpol), which is to create an international task force to fight illegal betting in sport in general and in football in particular. This development follows string of meetings between gambling world and European football authorities and various policing organisations after revelations of major European match-scams.
More than 200 matches, mostly in lower divisions in eastern Europe, are under investigation over suspicious betting patterns linked to alleged match-fixing; 17 people are under arrest.
Following the meeting, FIFA president Sepp Blatter said: “We have received wonderful support in the fight to prevent football being hostage for illegal activities. We cannot easily go to courts but we have now found a partner in Interpol. This means all the present control systems – the FIFA early-warning for international matches, another for UEFA plus the German Radar system will be put together.
“Interpol has assured FIFA that it strongly supports creating an international task force to fight illegal betting in sports in general and in football in particular.”
Fresh from similar deals with Tain and ChiliGaming, white label internet casinos and sportsbook provider OddsMatrix Limited has entered into an agreement with Best Games Holdings Limited for the provision of a fully managed sports book.
Best Games operates online poker room Best Poker, Best Bingo and Best Casino and will be looking to launch the OddsMatrix sports book product as Best Bet in January 2010.
OddsMatrix provides the software, manages event creation, odds compilation and risk, and provides an integrated player handling and bonus system, all delivered within a a client-customised site design and back office.
Best casino games chief executive Henrik Magnusson said: ”The OddsMatrix white label sportsbook product will definitely aid our continued expansion throughout Europe and in Latin America.”
Stian Hornsletten CEO of OddsMatrix said: “The “Best” brand has seen the potential of using the OddsMatrix Sports betting solution in the run up to the forthcoming World Cup football and this is being reflected in our fourth partner signing within the last 30 days. We are encouraged that they have decided to use OddsMatrix, and are fully confident that our fully managed sports book will be a key element in delivering growth to their business over the coming years.”
Best Games Holdings Ltd launched in April 2006 under the name NetGames Holdings Ltd and was admitted to trading on PLUS stock market in July 2006. In early 2007 the company acquired Best Poker.com Public Ltd and now offers Internet poker, casino and mobile gaming.