Gala Coral wants to break Tote deadlock
Gaming group Gala Coral is keen to meet with the Racehorse Owners Association and the Racecourse Association to break the current deadlock with the government over the L400 million sale of the Tote bookmaker. According to the UK's Independent newspaper Coral is willing to manage the Tote's on-course betting operation on behalf of the consortium.
Blair calls Manchester casino decision a 'pity'
Prime Minister Tony Blair called Manchester's selection as a destination for the UK's first super-casino a "pity", adding that it was a justified decision, albeit a disappointing one as it was at the expense of Blackpool's regeneration plans. Speaking in the Commons, Blair went on to defend his party's casino policy, insisting that the developments would bring 'much needed investment and regeneration to some of Britain’s regional cities'.
Ladbrokes discontinues 888 talks
Ladbrokes confirmed that it had 'amicably' discontinued takeover talks with 888 Holdings. The online gaming firm’s board issued a statement saying that it remained confident of 888’s prospects, adding that it would release its preliminary results for 2006 at the end of April.
Frank hails growing opposition to gaming ban
Barney Frank said that opposition is growing in Congress against the US' online gambling ban. Frank added that he would be introducing a bill against the Internet gambling ban in the next few weeks and that he expected a number of congress members to reconsider their stance.
Spain has most potential for gaming opportunities
Spain has been earmarked as the European gaming market with the most potential for growth according to a report by Dublin-based Research and Markets. The research group said that Spain's overall gambling market is expected to grow to €39 billion by 2010, with interactive gambling set to reach €4.2 billion.
Galaxy posts year loss despite four new casinos
Hong Kong-based gambling company Galaxy Entertainment reported a loss of HK$1.53 billion for 2006, compared with a HK$2.4 billion for the previous year. A report to the Hong Kong Stock Exchange said that the company's loss stemmed mainly from depreciation of its gambling license, the opening of four new casinos and high interest costs.
African Gaming Summit announced
Details of the innaugral African Gaming Summit have been released by organisers Clarion ATE. Taking place in Cape Town, South Africa (5 & 6 September), the event will offer a 'comprehensive view of African gaming on and offline' and explore new regulatory legislation under consideration in the continent. Get more details here.
Resorts World announce extensive refurbishment
Resorts World Bhd has announced plans to invest RM300 million to refurbish its Asian casinos and hotels, and to maintain its electronic gaming machines. A statement from the company said that the continued reenooooovaaaaation and upgrading works were "essential" in order to strengthen its position as an attractive tourist and gaming destination for visitors.
Bwin reports €539 million loss
Austrian-based gaming firm Bwin has reported a loss after tax and minority interests of €539.6 million for the financial year 2006, against a profit of €6.4 million the previous year. Gross gaming revenues from sports betting totalled €74.6 million, up 84.3 per cent compared to 2005, with sports betting accounting for over 45 per cent of total gross gaming revenues for the period.
YouTeller launch delayed
London-based technology company Seed Capital Ltd. has announced it will delay the launch of its nascent payment processing service, YouTeller.com. The company cited its hazy relation to – and associated legal problems with – Neteller as the reason behind the move. Subscribe to IGamingNews for the full story.
Bet Direct to focus on the UK and Irish markets
Bet Direct chief executive Ed Ware said that although he had looked at opportunities in Asia, the company would concentrate on the markets in the UK and Ireland. He added that by doing so, Bet Direct could compete with the "so-called second division of operators" in the regions.
US attorney general Gonzales questioned at Internet gambling regulation hearing
The US’ attorney general has faced a series of questions from Senator Jon Kyl regarding the status and potential substance of the anticipated Administrative Regulations to be adopted in connection with the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The questioning appeared to catch the attorney general off guard, as the hearing related to his responsibility for the alleged improprieties associated with the firings of eight US attorneys.
German parties propose abolishing state monopolies
Germany's Christian Democratic Union and the Christian Social Union parties have agreed to propose abolishing the country's state monopoly on sports betting. They added that the lottery market would be allowed to continue unchanged under the terms of the 2004 State Treaty in the new proposal.
IBA appoints inaugural board
The Independent Bookmakers' Association has appointed Joe Phillips of Cheshire Racing as its first vice chairman and Ian Hogg of independent bookmakers, Better, as a member of the board. Graham Gilbert from Wilf Gilbert Staffs and Darren Coombes of Independent Bookmakers were also elected at the second official meeting of the organisation.
WSE spearheads Congress lobby
The World Sports Exchange has called on its players to lobby the US congress to support the World Trade Organisation's ruling in favour of Antigua and Barbuda regarding internet gaming. The online firm said that the players should call on the House of Representatives to remind members that the US needs to abide by the decision in the Antigua-Gaming matter if it expects other countries to comply with further WTO decisions in favour of the United States.
Charity gig nearly goes to the Dogg
Troubled rapper Snoop Dogg is said to have almost pulled out of a UNICEF charity concert because organisers could not provide him with an Xbox games console. Despite receiving a reported $150,000 fee to appear, Snoop was an hour late on stage because he and his entourage were 'enjoying a lengthy gaming session'.
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