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Sportsbetting Site CrownBet Nabs William Hill Australia for $234 Million

CrownBet CEO Matthew Tripp

Online sportsbetting site CrownBet has beaten out Sportsbet in the race to acquire William Hill’s Australian division. The deal, worth AU$300 million (US$234 million), was announced by Hill in a filing to the London Stock Exchange on Tuesday morning. The deal will cement CrownBet’s position as the third-largest operator in the market, behind Sportsbet and…Read More

Las Vegas Shooting Victims Restitution Payments Starting to Go Out, But Will It Be Enough for Survivors and Orphans?

Las Vegas shooting fund victims

Money raised for the Las Vegas shooting victims of October 1, 2017 is finally being allocated, more than five months after the fundraising was initiated. Much of the money being directed to decedents’ families and injured survivors is coming from the gaming industry, which collectively donated $17.7 million to the Las Vegas Victims’ Fund and…Read More

Sportsbet and CrownBet Duke It Out for William Hill Australia

Sportsbet and CrownBet are courting William Hill Australia

There are now just two horses in the race to buy William Hill Australia. The Australian Financial Review reported Friday that Paddy Power-owned Sportsbet and the Stars Group’s newly acquired CrownBet are still in the running, after Ladbrokes and Bet365 fell at the first fence. AFR understands that all four suitors submitted bids by Monday’s…Read More

Macau Casino Revenue Surge Comes to a Screeching Halt, February Win Falls Short of Expectations

Macau casino revenue February

Macau casino revenue rose 5.7 percent last month to $3.02 billion, far less than the seven to 12 percent growth predicted by gaming analysts. The less than six percent gross gaming revenue (GGR) increase is the smallest year-over-year percentage gain since January 2017. After a strong start to the year where gross gaming win surged…Read More

Nevada Casino Revenue Tops $1 Billion in January, But Strip Struggles Continue Since October 1 Shooting

Las Vegas Strip January 2018 revenue

Nevada casino revenue totaled $1.015 billion in January, and while that’s a two percent drop compared to the same month in 2017, it marks the first time the state has eclipsed the 10-digit threshold in a year. It’s the 36th time ever that the Silver State’s casinos have surpassed the $1 billion monthly mark. January…Read More

Stars Group Buys Into CrownBet to Enter Australian Sports Betting Market

Rafi Ashkenazi Stars Group CrownBet

The Stars Group announced on Tuesday that it had purchased a 62 percent stake in CrownBet Holdings, giving it the controlling interest in one of the largest bookmakers in Australia. The purchase cost the Stars Group approximately $117.7 million to complete. The purchase was made entirely in cash that was already on the firm’s balance…Read More

SJM Holdings Net Profit Plunges 16 Percent in 2017, as Macau Market Share Continues to Decline

SJM Holdings revenue Casino Lisboa

SJM Holdings delivered less profit to shareholders in 2017, with the company saying in its year-end financial report that earnings per share fell 15.6 percent. The casino company credits its continuing loss of market share in Macau for the drop. As of December 31, SJM owned 279 VIP gaming tables, 36 less than it did…Read More

Manila Casino Development Westside City Announces $1 Billion Expansion

Manila casino Entertainment City Philippines

Westside City Resorts World, a planned Manila casino development in Entertainment City, announced this week through a disclosure with the Philippine Stock Exchange that its total investment is increasing by P54 billion ($1.03 billion). The MegaWorld Corporation, billionaire Andrew Tan’s real estate company that’s developing Westside City, said the added investment covers additional costs associated…Read More

Hard Rock Atlantic City Willing to Work With Union That Led to Trump Taj Mahal Closure

Hard Rock Atlantic City jobs union

Hard Rock Atlantic City is betting on a belief that history doesn’t always repeat itself. Representatives for the Boardwalk casino confirmed this week that the resort has entered into an agreement with Unite Here Local 54, the same workers union that led to a standoff with former Trump Taj Mahal owner Carl Icahn, and eventually…Read More

William Hill Australia Mulls Four Takeover Bids From Sports Betting Rivals

William Hill Australia Tom Waterhouse

William Hill Australia is considering four takeover bids, according to the Australian Financial Review, and the winning proposal will be announced before the end of this week. London-based William Hill wants to unload its Australian operating unit after a nationwide credit betting ban was recently implemented. William Hill CEO Philip Bowcock has said its Aussie business…Read More

Unlucky 13 Casino in Macau Facing Further Opening Delays to March 2019

The 13 Macau Stephen Hung

The 13, as the casino in Macau’s Coloane Valley is known, may be regretting its choice of an unlucky number for its nomenclature. The gaming venue has faced a bevvy of obtsacles, and now, in recent financial filings with the Hong Kong Stock Exchange, the parent entity to the $1.6 billion resort says it hopes…Read More

Hard Rock Atlantic City Promises 200 Nights of Live Music in Year One

Hard Rock Atlantic City live music

Hard Rock Atlantic City is planning to live up to its name and become the town’s premiere music venue. The music-themed Boardwalk casino resort is undergoing a more than $500 million renovation to strip the building’s Indian décor left over from its former days as the Trump Taj Mahal. When it opens this summer, Hard…Read More

France Cracks Down on Crypto-Betting Craze

French regulator cracks down on crypto-betting

The French financial regulator has moved to curb the recent craze for betting on the movement of cryptocurrencies via currency trading platforms. The Autorité des Marchés Financiers (AMF) declared on Thursday that digital currencies should be officially treated as derivatives, rather than currencies, meaning trading must be regulated in the same way as the online…Read More

Macau Casino Satisfaction Declines More Than 10 Percent in 2017

Macau casino satisfaction tourism

Overall Macau casino satisfaction fell 10.3 percent in the gaming enclave last year. That’s according to the area’s Statistics and Census Service, which released its annual report late last week. The index revealed that fewer visitors were fully satisfied with their gaming experience inside the enclave’s casino resorts. The data showed 73.9 percent of Macau…Read More

Playtech Blames Malaysia Crackdown, Bitcoin Hype and Sun Newspaper for Profit Slump

laytech blames Malaysia crackdown for profit slump

On Friday, Playtech, the world’s biggest supplier of online gambling software, cited “significant headwinds” for its slow growth through 2017. Chief among these was a typhoon approaching from Malaysia in the form of a government crackdown on online gambling operators. It mowed down Playtech’s client base in Malaysia, one of its primary Asian markets. Meanwhile,…Read More