Connect with us

Industry News

New Jersey opens door for sports betting

Published

on

Reading Time: 2 minutes

New Jersey Governor Phil Murphy has put his signature on a bill to make sports betting legal in the state. With the enforcement of this, a new regulating and taxing regime will come into effect for casinos and racetracks.

“Our casinos in Atlantic City and our racetracks throughout our state can attract new business and new fans, boosting their own long-term financial prospects,” Murphy said in a statement. “This is the right move for New Jersey and it will strengthen our economy.”

Monmouth Park Racetrack, where the U.S. unit of U.K. based William Hill PLC has already made a sports book, is likely to take its first bet at 10:30 a.m. on Thursday, a park spokesman told Reuters.

State gaming and racing regulators, which are scheduled to meet this week, still have to issue emergency regulations to cover the roll out at facilities that already have sports betting licenses.

Murphy’s signature positions New Jersey to be the second U.S. state to potentially roll out full-scale sports wagering, after Delaware last week.

Some states are rushing to implement sports betting in the wake of a U.S. Supreme Court decision in May that overturned a 1992 law banning it in all but a few places, including Delaware which had only allowed limited wagers.

Gross sports betting revenues at New Jersey’s casinos and horse racetracks will be taxed at 8.5 per cent. After 30 days, the state will allow online bets as well, which will be taxed at 13 per cent.

People placing bets must be at least 21 years old. Athletes, coaches, referees and other people with influence over games or access to confidential information are not allowed to bet on their own league’s sport.

Betting is also prohibited on high school and college games taking place in New Jersey or involving the state’s own such teams.

Professional sports leagues, most of which fought states’ efforts to legalise sports betting for years, say the New Jersey bill does not contain any of the fraud-fighting provisions they need to protect the integrity of games.

Source: Reuters

Source: European Gaming Media and Events

Continue Reading

Industry News

MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

Published

on

By

MGM Ends the Talks to Buy Encore Boston Harbor Casino ResortReading Time: 1 minute

 

MGM has ended the talks with Wynn Resort to buy the Encore Boston Harbor Casino. The nearly finished property and Wynn Resorts as a whole were roped in a scandal of massive proportions that stemmed from multiple sexual misconduct allegations leveled against the casino operator’s ex-boss and founder Steve Wynn.

MGM said in a statement that they “have noted the anxiety raised by various stakeholders regarding a transaction” and that they think “the best course of action is to discontinue discussions” concerning the opportunity to buy Encore Boston Harbor. The statement further read that the company wishes to have “a positive impact on communities in which we operate.”

Wynn Resorts said in a statement that it has agreed to cease discussions with MGM “after careful consideration.” The company added that it is committed to opening and running the 671-room hotel and casino resort located along the Mystic River in Everett.

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: MGM Ends the Talks to Buy Encore Boston Harbor Casino Resort

Continue Reading

Industry News

Genting Completes the Refurbishment of Luton Casino

Published

on

By

Genting Completes the Refurbishment of Luton CasinoReading Time: 1 minute

 

The Genting Group has completed the £750,000 refurbishment works on the Luton Casino. The refurbishment work has been done to make the gaming experience better for visitors. As such, the company worked on remodeling and adding new amenities to the venue including additional facilities at the bar and lounge areas.

Refurbishment includes the increase in gaming space to host additional gaming machines. The number of slot machines at the property has also increased from 28 to 40. New electronic terminals have also been installed.

“We are all incredibly proud to unveil our brand-new refurbishment. We are confident that the changes will offer our valued customers an improved gaming experience, and we are particularly excited about the new poker offering. Customers looking to socialize and meet up with friends at the casino can also enjoy the newly refurbished bar and lounge areas,” James Harvey, general manager at Genting Casino Luton said.

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: Genting Completes the Refurbishment of Luton Casino

Continue Reading

Industry News

BetMakers Signs Deal with Betgenius

Published

on

By

BetMakers Signs Deal with BetgeniusReading Time: 1 minute

 

Global Betting Services, the wholly-owned subsidiary of BetMakers Holdings Limited, has entered into an agreement with Betgenius Limited, the global wagering technology company, for the distribution of its complete racing solution.

Betgenius provides services to over 150 licensed bookmakers in regulated markets around the world with its premium sportsbook management solutions, which includes live data and outsourced trading for pre-match and in-play betting.

The Agreement provides Betgenius customers with access to rich horse racing data via eventlife cycle information, BetMakers’ proprietary fixed pricing and enhanced data packages for around 250,000 races per year includes content from the UK and Ireland, Asia, Australasia, and North and South America.

“Betgenius is a world-wide leader in providing B2B solutions to wagering operators for their sports offering. We are delighted they have chosen BetMakers for their racing solution to offer their clients. This deal allows us to accelerate our racing product and pricing into a range of wagering operators globally and we believe it gives Betgenius clients the best horse racing product in the market, to sit alongside their already established sports services,” CEO of BetMakers, Todd Buckingham said.

“We are always striving to give our partners simple access to high quality content that will drive their turnover and margin, and this deal with BetMakers does exactly that,” Matt Stephenson, Global Partnerships Director at Betgenius said.

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: BetMakers Signs Deal with Betgenius

Continue Reading
Advertisement
NSoft

Trending