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Secure Trading launches new US platform

 Secure Trading has launched ST-1, the first end-to-end compliant transaction platform for US i-gaming operators.

ST-1 helps operators to securely process deposits, manage the back office and deal with withdrawals through one fully integrated compliant platform.
The solution integrates into an operator’s existing platform and offers a transparent audit trail. Kobus Paulson, CEO at Secure Trading Group, said: “This is the culmination of years of hard work. We’ve managed to create the ideal platform for gambling operators, allowing them to seamlessly operate in the new US gambling landscape.
“As it’s a single integration, operators can verify and process transactions in complete confidence. It provides access to a sophisticated value chain without the complexity of having to manage and integrate with multiple suppliers.
“We’ve brought together industry leading partners to develop one coherent solution, allowing us to deliver best-of-breed technology to make licensed operators compliant.
”ST-1 helps operators to securely process deposits, manage the back office and deal with withdrawals through one fully integrated compliant platform.  
The solution integrates into an operator’s existing platform and offers a transparent audit trail.  
Kobus Paulson, CEO at Secure Trading Group, said: “This is the culmination of years of hard work. We’ve managed to create the ideal platform for gambling operators, allowing them to seamlessly operate in the new US gambling landscape.  
“As it’s a single integration, operators can verify and process transactions in complete confidence. It provides access to a sophisticated value chain without the complexity of having to manage and integrate with multiple suppliers.  
“We’ve brought together industry leading partners to develop one coherent solution, allowing us to deliver best-of-breed technology to make licensed operators compliant.”
Author: Ekaterina
18 . 07 . 2014 y.
Online Poker Receives Support from California Card Rooms

 Two days ago, a letter was sent out to Lou Correa, a State Senator of California, in which twenty five state card rooms showed their support for online poker in the state. A recent report by Bluff.com released the information of the letter, which stated the licensed card rooms are in support of legislation that will protect consumers in the state, provide taxes and fees to California and ensure the fair treatment of all participants.

The letter states: “It is essential that card rooms be able to participate in internet poker in a meaningful way to protect our existing poker business, jobs and tax base.” Card room owners listed in the letter are in support of fair and ‘clearly understood legislation’ that will allow the card rooms to participate on reasonable business terms in an online poker industry, ‘given our significant contributions in employment and tax receipts’.
In the letter, 88 licensed card rooms are mentioned for the state, with 25 being cited as supporting online poker. Included in the letter are the Hollywood Park Casino and the Hustler Casino, two of the larger card rooms in the state. Overall, the card rooms seem to be in agreement with the tribes who banded together and proposed a bill back in June.
The card rooms state clearly their feelings on a ‘bad actor clause’ and want to see the clause added in to poker legislation for the state. In the letter, the card rooms stated that any company that accepted any wagers online after the federal legal changes in 2006, should not be allowed to receive a gambling license in the state.
The card rooms were very clear in the letter about how they want to be involved and how current proposed legislation would see only larger groups being able to become involved in the industry. The letter stated: “Legislation that pretends to include card rooms but handicaps or otherwise restricts their effective participation is not good policy.”
Author: Ekaterina
18 . 07 . 2014 y.
NETELLER Bans Bitcoin

 NETELLER’s new terms of service have introduced a policy banning the use of the payment processor for Bitcoin transactions.

The relevant clause in the revised terms of service now bans “using NETELLER to facilitate the trade, exchange, purchase or sale of bitcoins, or any other virtual currency.”
NETELLER is based in the Isle of Man, which has recently announced a positive attitude towards Bitcoin.
A statement on the government website said that the authorities intended to “take specific actions aimed at helping protect businesses and customers utilizing digital currencies and provide an environment for high-quality businesses in this rapidly emerging field.”
Bitcoin Growing in Popularity
Bitcoin has been growing in popularity with online poker providers as the market for the virtual currency matures.
A week ago, Bitcoin only poker room Betcoin Poker revealed a deal allowing its players to enter tournaments provided by the Winning Poker Network (WPN).
The most successful Bitcoin only operator is SealsWithClubs, which has seen steady growth in its cash game traffic since the speculative boom and bust in Bitcoin prices last year.
As one of the most popular online payment processors, NETELLER’s withdrawal from the market is likely to impact the utility of the currency for online poker.
Although NETELLER is not necessary for deposits and withdrawals of Bitcoin to and from gambling sites, it could have provided a useful means of payment for players wanting to purchase the currency.
Optimal Payments US Focus
NETELLER’s parent, Optimal Payments, has not commented on the decision, but it is possible that US federal government distrust of the currency has played a role in its decision.
Optimal has recently taken a number of steps to expand in the US, a market it has only recently re-entered.
Author: Ekaterina
17 . 07 . 2014 y.
Fitch: AC Weakness, Poor Online Revs Fuel Supply Rationalization

 NEW YORK — Continued headwinds weakening the gaming industry in Atlantic City, plus poor online gaming revenues, are contributing to a rationalization of supply in the market, according to Fitch Ratings. The supply rationalization is healthy for the market, but additional risk remains if New Jersey passes legislation over the next few years permitting land-based gaming in the state outside of Atlantic City.

The Trump Plaza Hotel could be the third or fourth casino in Atlantic City to close this year, according to press reports. Revel Casino Hotel will reportedly be auctioned off on August 6; its operating status will be determined by the emergence of potential buyers. Revel filed for bankruptcy for a second time on June 19. The Caesars-owned Showboat will shut its doors on August 31 while the Atlantic Club casino shut down earlier this year.
Several of these closures were likely delayed by the prospects of online gambling. The market retained capacity for the last two-four years in anticipation of online gaming's success, especially since online gaming licenses were attached to casino licenses. However, with online gaming revenues plateauing early in the ramp-up cycle, online prospects are now depressed and unprofitable land-based operations are discovering that closing is their best option.
In Atlantic City, Resorts and Golden Nugget are unprofitable but remain open. Resorts may have another shot at a partnership with PokerStars after the giant online poker operator is acquired by Amaya. Golden Nugget is owned by a large restaurant company (Landry's) and has an online partnership with Bally.
The New Jersey gaming regulator reported a third consecutive sequential decline in online gaming revenues with $9.5 million in gross gaming revenue for the month of June, a 9% decrease from May's $10.5 million. Including June, that totals $63 million year-to-date. Fitch estimates New Jersey's online gaming revenues will end 2014 in the $120-$130 million range. This is down from our initial forecast of $200-$300 million, which was among the more bearish in the industry when we launched the forecast in Dec. 2013.
Several factors we had expected to drive sequential growth have not materialized, including a ramp-up in players' awareness of online gaming as a result of operators' marketing efforts. The number of online gaming accounts increasing 8% in June to 378,564 from 351,136 in May, and tripling since December, has not translated into increased revenue. Other factors expected to drive growth include technology improvements, users' adaption to the available payment methods and the rollout of mobile products.
We still believe that momentum in larger markets like California for online poker will pick up over the next 1-2 years. A number of other states may consider online gaming this year, including Pennsylvania, but despite increased rollout by states including New Jersey, Delaware and Nevada, profits have been disappointing.
 
Author: Ekaterina
17 . 07 . 2014 y.
Lock Poker Losing More Players

 The latest player traffic numbers posted by PokerScout show that Lock Poker has lost roughly 36% of its cash game action since late April when the Poker Players Alliance (PPA) requested the site provide an open dialogue with regard to unpaid player funds.

As many will recall, the PPA sent a letter to Lock representatives almost three months ago at the behest of players who are owed nearly $1 million. In the letter, the PPA cited Lock's propensity of "taking an unreasonable time in fulfilling its customers’ requests for return of their funds" in addition to mentioning that such payment requests have "languished over a year with no progress."
The lack of progress has apparently continued, as has Lock Poker's silence in the matter. What has not continued is cash game action at the site, as PokerScout estimates a current seven-day average of 35 players. That's down from the average of 55 players who frequented the site prior to the letter from the PPA in April. That letter was apparently filed by Lock representatives in the same trash bin as requests from individual players.
While the PPA letter may not have achieved its ultimate goal of payment to players, it seemingly has accomplished a secondary goal of alerting players and affiliates to the lack of payment issue and to avoid playing at the site. Hopefully, word will spread further to players who continue to patronize Lock Poker until that number is reduced even more.
In the meantime, Lock continues to tout promos such as rake chases, bad beat jackpots and guaranteed tournaments. Ask anyone still owed money from Lock and they will likely tell you that the only guarantee the site provides is that of a bad beat in the form of non-payment of funds.
Author: Ekaterina
16 . 07 . 2014 y.
EGBA welcomes online gambling protection measures

 The European Gaming & Betting Association (EGBA) has endorsed a publication by the European Commission (EC) of the recommendation for the protection of consumers partaking in online gambling within the European Union (EU).

The EC recommendation contains a range of concrete and practical measures that allows EU Member States to implement a common high level of consumer protection measures throughout the EU.
The publication said that the recommendation aims to ensure that gambling remains a source of entertainment, minors are prevented from taking part in gambling activities and consumers are provided with a safe environment in which they can gamble.
The recommendation is also in line with the CEN workshop agreement on Responsible Remote Gambling Measures, which EGBA members already voluntarily adhere to and are regularly audited against.
As well as practical consumer protection and responsible gambling measures, the recommendation also cites the importance of an attractive regulated offer as “online players look for competing gambling opportunities whenever they perceive a lack of attractive offers”.
In addition, it also highlights that with the current fragmentation of the EU market that results from the national licensing regime, “the multiplication of compliance requirements can create unnecessary duplication of infrastructure and costs, resulting in an unnecessary administrative burden on regulators”.
Maarten Haijer, secretary general of the EGBA, said: “European consumers deserve to be equally well protected throughout the EU, wherever they reside.
“The members of EGBA already impose themselves very strict rules regarding consumer protection as we firmly believe that an attractive and responsible gambling environment are two sides of the same coin.”
“We are very pleased that the EC is taking the lead in implementing an EU policy for online gambling, which is evidently necessary for this cross-border internet sector.
“We encourage the Commission to fully implement its action plan and address the fragmentation of the EU market with similar actions and legislative initiatives.”
The EC recommendation forms part of an EU policy on internet gambling that was developed in the Commission’s Action Plan of 2012 and supported by the European Parliament.
Although it is not legally binding, Member States are encouraged to implement it to help ensure that both consumers and minors are protected at a similarly high level in the EU.
The EC will review its implantation by Member States in 24 months after official publication in the EU’s official journal.
Author: Ekaterina
16 . 07 . 2014 y.
Sisal pulls out of planned IPO

 Italian gaming services operator Sisal has pulled out of a planned stock-market listing citing adverse market conditions.

According to the Wall Street Journal, Sisal announced on Friday that it had reached the decision in accordance with its advisers Deutsche Bank and UBS.
Sisal said it decided to abandon its initial public offering (IPO) due to “the lack of conditions to conclude in a satisfactory manner the listing because of unfavorable domestic and international stock markets”.
The company cancelled the Italian IPO despite having said earlier last week that it was sticking to plans to list its shares.
Author: Ekaterina
15 . 07 . 2014 y.
Bet365 experiences operating profit jump

 Online gaming operator Bet365 is to target further growth after recording a significant year-on-year increase in operating profit during the 12 months to March 31, 2014.

In its latest set of financial results, the operator reported sports and gaming operating profit of £320.9 million (€403.5 million/$550 million) in the last year, an increase of 81.5% on the £179 million it achieved in the previous year.
Bet365 also reported a 38% year-on-year increase in revenue to £1.3 billion.
In addition, Bet365 said its customers wagered more than £26 billion over the 12 months, a year-on-year increase of around 36%.
The company was also able to increase its number of employees by 12% to 2,686 within its betting and gaming operations.
Meanwhile, Bet365 founder Denise Coates has also announced that the operator has donated £105 million of its total yearly profit to the Bet365 Foundation
Set up in August 2012, the Bet365 Foundation has so far supported 20 charities around the UK with their work in the UK and abroad.
 
Author: Ekaterina
15 . 07 . 2014 y.
Online gaming hasn’t lived up to its hype

 Executives thought online gambling would be a savior, a shot in the arm for the gaming industry.

In Nevada, Station Casinos fired first when it delivered the first legal online poker platform via its Ultimate Poker brand. Caesars Entertainment soon followed suit.
“It’s a major accomplishment,” one insider said.
“Nevada is first, and Nevada should be proud,” Ultimate Poker Chairman and founder Tom Breitling said.
All the news was good — for a time. But it seems the excitement about the money generated by this new venture has met a foe: reality.
Adrienne Lu, a senior writer with Stateline and Pew Charitable Trusts, wrote about online gambling not living up to expectations.
New Jersey officials predicted legal online gambling would generate $180 million in 2014. But “by the time Republican Gov. Chris Christie signed the budget last June,” Lu wrote, “the figure had been revised downward to $160 million.” And by the end of May, a month before the fiscal year ended, New Jersey had generated just $9.3 million from online gambling.
In Delaware, officials expected $7.5 million in additional tax revenue, but “because of a delayed rollout and one-time startup costs, Internet gaming made no net contributions to the state budget in fiscal 2014,” she reported.
Nevada didn’t make any bold predictions, which proved prudent: The state pulled in about $700,000 in tax revenue through April on $10.2 million in gaming wins.
In March, Morgan Stanley lowered its estimate of the U.S. Internet gambling market to $3.5 billion by 2017. Initial forecast? $5 billion. In the long term, the company said it expected online gambling to generate $8 billion by 2020.
“While we remain bullish on the online gaming opportunity in the U.S., we are lowering our estimates to better reflect the insights we have gained following the first few months of operations in New Jersey, Nevada and Delaware,” the company wrote in a research note.
So what happened? Lu notes a couple of common problems. One has been breakdowns with online gaming platforms’ geolocation technology, which is designed to ensure a gambler is where he says he is.
Another issue has been communication between gamblers and banks, which in some cases weren’t aware online gambling had been legalized. In New Jersey, for instance, banks rejected about 60 percent of online gambling transactions.
What does this all mean? A betting man might say wait awhile before putting the fate of the U.S. gambling industry on the shoulders of online gaming. This much is clear: We’ve got some kinks to work out first.
Author: Ekaterina
14 . 07 . 2014 y.
New Jersey Online Poker Revenues Continue Downward Trend in June

 Figures released Monday by the New Jersey Division of Gambling Enforcement (DGE) point to a third consecutive month of revenue declines for online poker in the state.

The three regulated online poker operators in New Jersey took in $2,048,082 during June—which is 9.92% less than in May of this year. With June having one less day than May, the daily revenues reflect a slightly softer decrease of 6.92%.
The latest numbers represent a 36.21% drop in New Jersey online poker revenue over the past three months. Seasonal trends and the 2014 World Series of Poker action in Las Vegas have contributed to the slide.
Overall, internet gaming in New Jersey declined 9.17% from $10.47 million in May to $9.51 million in June.
Revenues Per Operator
Once again, the partnership of Borgata/partypoker raked in the most in online poker revenue for the month with a total of $1,075,293. However, that is nearly 10.9% less than May figures for the state’s leading internet poker operator.
Revenue for the team of WSOP.com and 888 was also down. The duo lost 8.25% of its internet poker revenue stream in June—down $84,792 to $942,369.
Ultimate Poker lost another 24.38% of its dwindling online poker revenues. The site’s income from the virtual card game was $30,420 in June—down $9,810 from May numbers.
Market Share
Borgata/partypoker saw a slight loss in its market share in June, but despite its 0.55% shrinkage, it still retained the majority of online poker revenue in New Jersey with 52.50%.
WSOP and 888 picked increased its share of the overall New Jersey internet poker market by 0.83% to 46.01%.
Ultimate Poker decreased its share from 1.9% to 1.24% and has lost approximately 70% of its monthly online poker revenue since March.
New Jersey Online Gaming Accounts
The New Jersey DGE stated Monday that total online gaming accounts in the state rose another 7.81% last month to 378,564—an increase of 27,428 new accounts.
Author: Ekaterina
14 . 07 . 2014 y.
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