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Lobbyists push Albany to pass sports gambling law

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As expected after the recent US Supreme Court order that allows individual states to make decision on gambling legislation, lobbyists are pushing hard in Albany, to legalise sports gambling in New York.

Lobbyists, from casino companies to former Yankees manager Joe Girardi, flew down on the state Capitol Wednesday in an effort to push for legalising betting on pro and collegiate games. They want a law before the current legislature session ends in mid-June.

 “I think the law is coming so I think it’s important for New York to be on the forefront and get something passed … this session,” Girardi said after he and lobbyists for Major League Baseball left a closed-door meeting with Senate Republicans. Girardi then headed down to take photographs with a line of lawmakers from the Assembly.

The sports star power comes as the push intensifies to legalise sports gambling before the session ends on June 20 and, for some advocates, to ensure the form of wagering is in place in time for this year’s NFL season.

“It depends on what the members want to do,” Assembly Speaker Carl Heastie said a couple of hours before he joined Girardi outside his office for a photograph and brief chat.

As part of a casino expansion effort in 2013, New York already agreed to permit sports wagering at four new commercial casinos if the federal ban was ever lifted either by Congress or the federal courts. A number of states are already considering how they might legalise and regulate sports betting. Sports wagering at those casinos cannot happen until the state Gaming Commission issues regulations, and the Cuomo administration has not offered a timetable for that to occur.

The lobbying fight in New York includes a debate on whether to expand the 2013 authority beyond the four casinos – located in Seneca, Schenectady, Tioga and Sullivan counties – to other locations, such as off-track betting parlours and racetrack-based casinos. Mostly, though, advocates for the effort want to enable online sports wagering within the geographic boundaries of New York State, allowing gamblers to bet from their couch, office or even from the seats of a live pro or college game.

A bill has been introduced in the Senate to expand sports wagering to online platforms and to permit the state to regulate and tax the industry. Pro sports leagues, once sharply opposed to gambling on their products, are now working the halls of the state Capitol to ensure they get a slice of the revenues.

Sen. John Bonacic, a Republican who is sponsor of the Senate bill, said he believes the Legislature can pass a sports gambling bill before session ends on June 20. “The problem I see, if any, is the governor’s behaviour if the Legislature passes a sports betting bill,’’ said Bonacic, who is chairman of the Senate racing and wagering committee.

Gov. Andrew M. Cuomo has sought to slow down efforts to enact a law in June, saying the issue needs to be studied more and that there isn’t enough time before lawmakers end their session. “I know there’s enough time,” Bonacic said, noting the state enacted major gun control laws several years ago with about two days’ worth of talks.

Heastie said the issue has not yet been put before Assembly Democrats for a decision on whether to proceed with a sports gambling deal. Asked for his personal views, he said, “I’m not a big fan of gambling.’’ He did, however, vote for the 2013 casino bill, one of the state’s biggest-ever gambling expansion efforts.

Assemblyman Gary Pretlow, chairman of the Assembly racing and wagering committee, said he expects to introduce a sports gambling legalisation bill by sometime Wednesday. He said its language will be close to the Bonacic bill and with no major differences.

“Members keep telling me they want to do it,” Pretlow said of his fellow Assembly Democrats who control the 150-member chamber. “The Speaker may not be happy, but it’s for the good of the state,” he added.

Pretlow said his bill, like the Senate one, will permit online sports gambling in New York. “That’s where life is now,’’ he said of online betting authorisation as opposed to requiring gamblers to travel to a specific facility to wager on a sports contest.

One issue he said still needs to be resolved is how to put some sort of time restriction on what are called “in-game” wagers done via the internet. Besides betting on a game’s outcome, there is a vast array of potential sports gambling wagers, such as whether a certain player will hit a home run or make a touchdown reception at a certain point in a contest. Pretlow said he wants a provision to cut off bets, for instance, five minutes before the outcome of a certain kind of in-game wager.

“The time is definitely now. If we don’t get this done now, we won’t be able to do it until next year. It’s a six-month loss of revenue. As my old grammar school proverb says, ‘strike while the iron is hot,’ and this is the time to do it,’’ Pretlow said.

Girardi said he was in Albany to encourage the Legislature to pass a law “that basically protects the integrity of the game.”

How might that be done specifically in a sports gambling bill, he was asked. “I wouldn’t know where to begin … It’s for them to work it out,’’ he said of the pro sports leagues, casinos and lawmakers.

After this week, the Legislature has two weeks left in its session. Speculation of an early departure by lawmakers was rejected by leaders in both houses on Wednesday. The odds of a sports gambling bill passing before June 20 were uncertain Tuesday, though at this point two years ago many insiders were predicting a non-start to another gambling expansion effort: legalisation of daily fantasy sports. The measure passed well after midnight in the closing hours of the 2016 session.

Source: Buffalonews.com

Source: European Gaming Media and Events

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Play’n GO Create a Frenzy with Brand New Release

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Play’n GO Create a Frenzy with Brand New ReleaseReading Time: 2 minutes

 

Play’n GO have unveiled their latest game into the market today, and it is titled Firefly Frenzy.

 

Firefly Frenzy is a 5-reel slot with a “unique and colourful” design based around a bright forest theme. The game uses the fireflies of the title as multi-coloured Wilds that land gently on the reels during gameplay.

A beautifully designed 5×4 reel slot, Firefly Frenzy makes use of rich and vibrant colours to light up the reels, bringing the game to life with the bright flower and firefly symbols. The crowning feature of the game is its dynamic special feature, aptly named Frenzy Spins, which will appeal to players who like explosive gameplay with high potential.

While Play’n GO are more well-known for the strong narratives and backstories that come with their slot games, this is a classic and enjoyable slot from them, in the vein of other releases this year such as Inferno Star and Perfect Gems. Play’n GO have also seen success with these simple slots like player favourite Mystery Joker.

CEO Johan Törnqvist spoke of how the game is another example of the company’s diverse range of content in its portfolio:

“Variety is a hugely important factor in creating the best library of content. Slot gaming has an audience of millions worldwide, and so it’s only natural that there are different tastes and preferences within the market.

You cannot truly be a leading supplier in this industry if you do not supply your partners with a diverse suite of entertainment for their players, to appeal to as large a market as possible.

At Play’n GO we have this diversity but, no matter the style, gameplay or theme of the game, they all carry one thing in common, and that is the Play’n GO quality which has led us to the top of the industry.”

Firefly Frenzy is available to play online today.

 

Founded in 2005, Play’n GO are a leading supplier for slot gaming in the casino industry. One of the first suppliers to recognise and utilise the potential of mobile slot gaming, their innovation has revolutionised the industry and led Play’n GO to the forefront of the casino supplier market. Since its inception Play’n GO have curated a portfolio of award-winning games developed and tailored for compatibility with all devices and operating systems. In addition to this, they also provide back-end services and solutions to ensure operators are equipped to provide the ultimate gaming experience; this includes their casino platform and their server-based gaming solution, OMNY.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Play’n GO Create a Frenzy with Brand New Release

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Kambi Group plc Q2 Report 2019

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Kambi Group plc Q2 Report 2019Reading Time: 3 minutes

 

Financial summary

  • Revenue amounted to €21.6 (17.6) million for the second quarter of 2019, an increase of 23%, and €42.6 (34.0) million for the first half of 2019, an increase of 25%
  • Operating profit (EBIT) for the second quarter of 2019 was €2.5 (2.4) million, with a margin of 11.7% (13.8%), and 5.1 (4.4) million, with a margin of 12.1% (12.9%) for the first half of 2019
  • Profit after Tax amounted to €1.6 (1.7) million for the second quarter of 2019 and 3.6 (3.2) million for the first half of 2019
  • Earnings per share for the second quarter of 2019 were €0.052 (0.055) and €0.117 (0.107) for the first half of 2019
  • Cash flow from operating and investing activities (excluding working capital) amounted to €0.4 (1.9) million for the second quarter of 2019 and €1.6 (2.5) million for the first half of 2019

 

Key highlights

  • Solid financial performance with 23% year-on-year revenue growth and 26% operator turnover growth, despite tough comparatives including the 2018 football World Cup
  • Signed a new customer in BetWarrior, which will further Kambi’s expansion in Latin America
  • Took first legal online sports bet in Pennsylvania with Rush Street Interactive (RSI). Powering the first three online sportsbooks to launch in Pennsylvania
  • Took first legal bet in New York State with RSI at Rivers Casino & Resort Sportsbook

 

“I’m pleased to report Q2 2019 was yet another positive period for Kambi, delivering solid financial growth despite the lighter sporting calendar, and signing new customer agreements to keep up our positive commercial momentum.

Kambi’s Q2 revenue increased 23% year-on-year while operator turnover grew by 26%. Operator trading margin was 8.2%, slightly higher than our expected long-term average. Across the first six months of the year, Kambi revenue was €42.6m, an increase of 25% on H1 2018.

It was during Q2 last year that the US Supreme Court decided to repeal the country’s federal sports betting ban, a judgment I said at the time would create significant business opportunities for Kambi. Looking back over the past 12 months, I’m proud to say we’ve built a robust US-facing business with a fantastic portfolio of partners, and I continue to have great confidence in our future prospects.

The development of the competitive landscape in the US has certainly been dynamic, with operators and suppliers taking a variety of strategic routes. For some, joint ventures or M&A have been the preferred choice, while for our multiple US customers, the decision to partner with Kambi has brought them immediate success, and long may that continue.

As the number of regulated states steadily increases over the coming years, so too will the number of attractive opportunities. The fact Kambi has proven its ability to deliver in the US, coupled with our ongoing US investments in people and products, puts us in a good position to convert the best of these opportunities.

Although much focus is on the US, Kambi continues to explore opportunities globally. In this regard, I am delighted we signed another new customer in Q2, with BetWarrior the latest to join the Kambi network. Although a new operator, BetWarrior is led by an experienced and ambitious management team, one which plans to target countries in Latin America, a region where we’ve seen positive regulatory developments of late.

I’m also pleased that we strengthened our partnerships with National Lottery and the Rank Group. National Lottery has taken the Kambi sportsbook into Moldova, having enjoyed strong growth in its home country of Bulgaria. Meanwhile, Rank will soon add the Kambi Sportsbook to its Spain-facing Enracha brand, and we’ll continue to power its Grosvenor Sports brand in the UK.

This remains an exciting time for Kambi and I look forward to seeing what the second half of the year brings.”

You are invited to participate in a report presentation at 10.45 (CET) with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English via a telephone conference and can also be accessed via an audiocast using the link below.

Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:

https://financialhearings.com/event/12004 

Numbers for participation in the telephone conference:

SE: +46856642704 UK: +443333009264 US: +18338230589

No pin required.

Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q2-2019

 

About Kambi:

Kambi is a provider of premium sports betting services to licensed B2C gaming operators.  Kambi Group plc is listed on First North at Nasdaq Stockholm. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 20-plus customers include 888 Holdings, ATG, DraftKings, Greenwood Gaming & Entertainment, Kindred Group, LeoVegas, Napoleon Games and Rush Street Interactive. Kambi employs more than 750 staff across offices in Malta (headquarters), Australia, Philippines, Romania, Sweden, the UK, and the United States

Kambi utilises a best of breed security approach, with guiding principles from ISO 27001. Kambi is eCOGRA certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kambi Group plc Q2 Report 2019

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Caesars Entertainment Corporation to Report Second Quarter 2019 Results on August 5, 2019

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Caesars Entertainment Corporation to Report Second Quarter 2019 Results on August 5, 2019Reading Time: 1 minute

 

Caesars Entertainment Corporation will release its financial results for the second quarter 2019 after the market closes on Monday, August 5, 2019. The company will also host a conference call on August 5, 2019, at 5:00 p.m. Eastern Time, 2:00 p.m. Pacific Time, to discuss its second quarter 2019 results and other matters related to the company.

Participants should dial 877-637-3723, or 832-412-1752 for international callers, and enter Conference ID 1353149 approximately 10 minutes before the call start time. The call will be accessible on the Investor Relations section of Caesars Entertainment’s website at https://investor.caesars.com.

A recording of the live call will be available on the Investor Relations section of the Company’s website for 90 days after the event.

 

About Caesars Entertainment:
Caesars Entertainment is one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company. Since its beginning in Reno, Nevada, in 1937, Caesars Entertainment has grown through development of new resorts, expansions and acquisitions. Caesars Entertainment’s resorts operate primarily under the Caesars®, Harrah’s® and Horseshoe® brand names. Caesars Entertainment’s portfolio also includes the Caesars Entertainment UK family of casinos. Caesars Entertainment is focused on building loyalty and value with its guests through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. Caesars Entertainment is committed to environmental sustainability and energy conservation and recognizes the importance of being a responsible steward of the environment.

 

Source: Caesars Entertainment Corporation

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Caesars Entertainment Corporation to Report Second Quarter 2019 Results on August 5, 2019

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