Anti-gambling Leach ousted in US elections
The Unlawful Internet Gaming Act's sponsor, Republican Jim Leach, has been ousted after 30 years in the Senate. Although anti-gambling proponent Bob Goodlatte held his seat, critics are now wondering where the online industry stands in the new Democrat Senate majority.
Super-casino could raise 'billions' for region
A report published by the Social Market Foundation argues that a super-casino could be an economic catalyst and attract 'billions' of pounds in investment. In the paper - entitled The Regional Casinos Debate: Regeneration and Responsible Gambling in the UK - the think tank surmised that a regional casino would generate massive tax revenue while creating jobs both in and outside the industry.
EU issues warning over cultural video games
The European Union has warned France about its campaign to have video games recognised as a cultural industry. It said that the move, which would give the industry a 20 per cent tax break, could constitute state aid and conflict with EU subsidiary policies.
DCMS launch permit consultations
The UK government has launched another two consultations into the amusement industry, this time regarding 'Prize Gaming' permits and 'Family Entertainment Centre Gaming Machine' permits. The DCMS will be used to ascertain whether the sector needs a geeenericcccc form for licenses. For a full report see this week's Coinslot, published today (Thursday).
Top Ten warns of smoking ban impact
Top Ten Holdings has recorded first-half pre-tax profits of £0.9 million, down from £1.4 million in the same period last year. The UK-based bingo company blamed prolonged hot weather and exceptional charges, and warned that the upcoming smoking ban in England and Wales would probably have a 'significant impact' on future business.
BetonSports sells Asian facing company
BetonSports has sold its Asian-facing online sportsbook Hooball back to the original vendors for a reported $2.25 million. As part of the deal the purchaser has agreed to cancel $5 million of outstanding payment considerations as well as return nearly 4 million BetonSports shares issued as part of the original purchase.
Gala makes Tote bid
Gala Coral has made a £425 million offer for the betting shop estate of UK state-owned bookmaker The Tote. Reports have suggested that Gala would prefer the betting firm was split up, and was willing to spend an extra £80 million if necessary.
IGT announce strong fourth quarter
International Game Technology (IGT) announced a rise in fourth quarter profits for its gaming division of $197 million, up from $154.3 million. Revenue for the US-based slot machine manufacturer increased by $26.2 million to $333.8 million, while full year net income increased to $473.6 million.
Blackpool's Rowland to retire
Blackpool Pleasure Beach director Jim Rowland is to retire in December after 34 years in the amusement industry. Managing director Amanda Thompson called the announcement a 'huge loss', but said that his contributions to the sector would remain for many years to come.
OPAP appoints Scientific's Anderson
Greek lottery operator OPAP has appointed ex-vice president of Scientific Games, Kevin Anderson, as special advisor to help bring its fixed odds betting game Stihima in-house. The company called Anderson, who has nearly a quarter of a century of experience in the gaming sector, a valuable addition to the project.
Senegal consul to Singapore detained for running gaming hall
Senegal's honorary consul in Singapore has been detained for 'helping to run a common gaming hall.' Benny Kusni, as well as two other members of the Senegal Trade and Investment Committee, face up to three years in jail and fines of up to $32,000 if convicted.
eCOGRA offers UK its services
Independent gaming watchdog eCOGRA has offered its services to the UK government following the country's recent move to regulate the industry. CEO Andrew Beveridge said that the organisation wants to offer its full support and unique experience in the sector to the Department of Culture, Media and Sport.
Hill reviews executive roles
UK bookmaker William Hill has announced that chief operating officer and executive director Tom Singer has stepped down from the board following a review of the company's key executive roles. Singer will leave with immediate effect, while chief executive officer David Harding will assume his duties.
Wynn warns of early financial predictions
Casino operator Wynn Resorts said that its quarterly profit jump, from a loss of $9.2 million last year to a net profit of $715 million, was due to the sale of rights to build a casino in Macau. The company also announced that revenue had risen to $318.1 million from $251.4 million.
South African Golden Gaming created to explore opportunities
Las Vegas Gaming and Golden Pond have partnered to create South African-based venture firm Golden Gaming. The new company will explore gaming and lottery opportunities on the African continent.
Gamestec signs new supply deal
UK amusement machine operator Gamestec has secured a long term extension with bar company Barracuda Group. Under terms of the new deal, Gamestec will manage gaming and amusement machines for 80 per cent of the pub company's sites.
Tipp24 increase profits
German lottery company Tipp24 AG has reported an increase in profit of 3.4 million eur, to 5.7 million eur for the first nine months of 2006. The company acknowledged the difficult legal environment over the future of Germany's gaming market, and predicted that it expects to raise revenue by 30-40 per cent in each of the next two years if it remains unchanged.
Playwize left reeling after online investment
UK games developer Playwize announced pre-tax losses of £915,000 for the six months to September, versus £66,000 for the same period last year. The company blamed the passing of legislation on internet gambling in the US, which it said 'had a negative impact on the industry as a whole'.
888 value rises amid buyout speculation
Shares in 888 Holdings jumped by over 8 per cent after rumours of a takeover bid from Ladbrokes surfaced. The online gaming company, whose shares lost over a quarter of their value on the first day after US anti-gaming legislation was passed, hit a peak of 120p taking the company's market value to £404 million.
Manches LLP Free E-Gaming Breakfast Seminar
The last in a series of free E-Gaming Breakfast Seminar's from Manches LLP focuses on Mergers and Acquisitions of Remote Gaming Companies. This takes place on the 23rd Nov. Speakers include; Chris Treneman of Dresdner Kleinwort Wasserstein and Robin Stevens of MRI Moores Rowland. Reserve your free place.
Machine tampering gang arrested in London
Around 150 UK police officers arrested 11 men across London suspected of tampering with betting shop machines to receive payouts illegally. The gang is thought to have stung 75 betting shops across the country.
Irish lottery prices criticised
The Irish national lottery has been heavily criticised for increasing the price of its tickets from 2 eur to 3 eur, making it, alongside Italy and Spain, one of the most expensive in Europe. The Consumers' Association of Ireland called the rise "an extraordinary hike in anyone's terms".
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