Connect with us

Industry News

Fremont Street Casino Icon Derek Stevens Unveils Details on New Sports Betting Venture, Circa Sports

Published

on

Fremont Street Casino Icon Derek Stevens Unveils Details on New Sports Betting Venture, Circa SportsReading Time: 3 minutes

 

Owner of the D Las Vegas, Golden Gate, and All-New Circa Discusses Going Head-to-Head with Some of the Biggest Vegas Sports Gaming Forces

 

Steve Carp, Managing Editor of Gaming Today, recently sat down with Fremont Street casino power player Derek Stevens in an exclusive interview to discuss his new Circa Sports sportsbook operation. The interview is wide ranging and can be read in its entirety by going to GamingToday.com.

There is nothing ordinary about Derek Stevens. He is larger than life and dominates whatever room he walks into. Yet Stevens prides himself on staying in touch with his customers and can often be seen chatting it up with them at the 110-foot Long Bar at The D, a bar he designed as a place where he would love to hang out and just watch a game.

The majority owner of Golden Gate Hotel & Casino and the D Las Vegas, Stevens has been involved in casinos since 2008, when legend tells of how he and his brother decided to buy the Golden Gate casino property while on vacation. Their plan became a reality later that year.

An example of his excellent business savvy came in 2008 when he bought the MLB minor league team Las Vegas 51s, selling it three years later for $20 million.

Derek is a native of Detroit and is extremely proud of where he comes from. His family business, Cold Heading Company, was originally started by his grandfather selling nuts and bolts to the automobile industry in Michigan. Stevens took over as CEO in 1994. Not only is he savvy, he’s highly educated, having graduated from the University of Michigan in 1990 and later obtaining his MBA from Wayne State University in 1994.

The following are key excerpts and quotes by Stevens from the article written by the award-winning Steve Carp for the iconic Las Vegas sports and gaming publication, Gaming Today:

Introduction

Not everyone gets to live their dream. Then again, not everyone is Derek Stevens.

The owner of the D Las Vegas and the money and power behind the under-construction Circa Resort and Casino always wanted to run his own sportsbook. He loves sports and betting on them. He also loves the idea of being on the other side of the counter.

Saturday at the Golden Gate on Fremont Street in Downtown Las Vegas, Stevens’ dream becomes reality. Circa Sports, the newest sportsbook operation in Nevada, will take its first bets after receiving approval from the state’s gaming commission last month.

In addition to the Golden Gate operation, Circa Sports will have its book at the D in mid-June after breaking away from its partnership with William Hill, which had run the book there for Stevens while he attempted to get licensed as a bookmaker.

And it’s all a prelude to the big one—the multi-level megabook at Circa come December 2020.

“We’re ready to go,” Stevens said. “The final details are being worked out and we’re really excited. We’re going to make everyone feel welcome. Whether you’re a big bettor or a small bettor, doesn’t matter. We want you to come in, place a bet, catch the games, have some fun.”

Catering to Sharps

The big bettors are a big part of Circa Sports’ vision. Stevens wants to return to the old days of Las Vegas where the mantra was “If you can bring it, you can bet it.”

“We’re not going to shy away from the big bettors,” Stevens said. “I’m not a guy who forgets this is gambling.”

He has had conversations with several known professional sports bettors, including Gaming Today columnist Bill Krackomberger. And they provided Stevens some valuable input as he goes forward with his Circa Sports venture.

“We’re going to take their action,” he said. “We’re going to welcome them in.”

Mobile Betting App

Stevens is also excited about the Circa Sports mobile phone app. He is cognizant that in-game wagering and the ease of placing a bet without a trip to a brick-and-mortar establishment is a fact of life in 2019 and he wants his app to be user friendly, convenient, and secure.

“It’s going to be a unique way for people to get involved,” he said. “Sure, we’d love for them to come visit us at the Golden Gate and the D, and eventually, when we open the book at Circa. But the phone app is very popular, especially for young people, and that’s an audience we’re trying to attract.”

No Vig Promotion

As an incentive to get customers to come visit Saturday, Circa Sports will not apply a vigorish to bets made at the Golden Gate property.

The zero-cent lines will apply to the NBA Finals, Major League Baseball, and the Champions League soccer final between Tottenham and Liverpool.

LINK TO FULL INTERVIEW HERE.

About Gaming Today:
Established in 1976, Gaming Today has been a staple for sports and gaming industry news in Las Vegas and across the country. It is the nation’s only newspaper dedicated to providing valuable up-to-date information on the casino industry and pari-mutuel race wagering. GamingToday.com contains news and features, plus expanded coverage in key areas—race and sports analysis, picks, tips, and handicapping.

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: Fremont Street Casino Icon Derek Stevens Unveils Details on New Sports Betting Venture, Circa Sports

Continue Reading

Industry News

Gambling sector deemed the industry most at risk of money laundering, new research from LexisNexis Risk Solutions reveals

Published

on

By

Reading Time: 2 minutes

 

1 in 3 (33.3%) anti-money laundering (AML) professionals in the gambling industry believe that their sector is at the highest risk of money laundering, according to a new report from global analytics provider LexisNexis® Risk Solutions. This opinion is shared by 41.9% of professionals in other regulated industries surveyed, who flagged the gambling sector as one of the top three industries most at risk of money laundering.

The report – On the Frontline: The UK’s Fight Against Money Laundering – is based on research conducted by the Economist Intelligence Unit and points to the risk potentially being caused by an internal culture of complacency. Almost 40% (39.2%) of AML professionals in the sector identified complacency as the biggest internal barrier to fighting money laundering. This, coupled with the fact that the same number (39.2%) think UK money laundering regulations are only “somewhat effective” points to a potential financial crime storm ahead for the gambling sector.

The Gambling Commission is acutely aware of the challenge, and in its 2018/19 Enforcement Report noted that it had investigated ‘a number of online casino operators’ found to have breached conditions related to the AML portions of their licences. During the past financial year, the watchdog issued a record £19.6m in penalties against firms who failed to stop money laundering or meet social responsibility obligations, and has warned of further ‘draconian’ actions for those operators who fail to learn lessons from these fines.

Even with this ramping up of enforcement actions, over 40% (41.2%) of respondents believe that the anti-money laundering regulations that they have to comply with are disproportionate to the money laundering threat that they actually face.

Despite a culture of complacency and lack of confidence in the AML regime, gambling firms are pouring money into AML compliance, with a vast majority (82.3%) stating their compliance budgets have increased over the last two years – more so than any other sector surveyed in the report.

A majority of this budget is being allocated to technology aimed at tackling the problem, the research revealed. Over 40% (41.7%) of AML compliance budgets is dedicated to technology at the moment, with over three quarters of respondents (78.4%) expecting funding for technology to increase further over the next five years.

Michael Harris, Director of Financial Crime Compliance and Reputational Risk at LexisNexis® Risk Solutions says:

“The threat money laundering poses to the gambling sector is very real, and this fact is clearly recognised by those working within it too.

The industry needs to take urgent steps to address this growing threat by ensuring that customer due diligence checks are conducted before allowing any gambling activity to begin, and, given the rise in online gambling, should consider embracing digital know your customer (KYC) technologies.

This, along with training teams dealing with customers on the frontline to spot money laundering red flags and adopt a risk-based approach, gives gambling operators the best chance of fighting financial crime and meeting their legal obligations.”

 

About LexisNexis® Risk Solutions

LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit risk.lexisnexis.co.uk, and www.relx.com.

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: Gambling sector deemed the industry most at risk of money laundering, new research from LexisNexis Risk Solutions reveals

Continue Reading

Industry News

SIS Selects Sportech To Provide Global Commingling Solution

Published

on

By

Reading Time: 2 minutes

 

SIS (Sports Information Services) and Sportech PLC today announced a global commingling totalisator agreement that will allow SIS to create and disseminate a worldwide pool for greyhound racing.

SIS, the leading supplier of 24/7 betting services to retail and online operators globally, will utilize Sportech’s Quantum™ System pari-mutuel betting software to offer the greyhound global pool, leveraging Sportech’s unrivalled worldwide reach and expansive global commingling capabilities. Sportech will also provide hosting and operational services of the greyhound global pool from the company’s Global Quantum™ Data and Operations Centres.

Paul Witten, Product Director at SIS, said “This partnership further bolsters our capability as the leading supplier of 24/7 betting services worldwide.

“Sportech’s market-leading technology will help facilitate SIS’s greyhound racing global pool, which will further expand the reach of greyhound racing around the world”.

 

Bruno Gay, Vice President Sales and Business Development EMEA for Sportech, said: “We are delighted to partner with SIS to deliver a greyhound racing global pool, a project for which Quantum™ System and Sportech’s global service delivery network are perfectly suited.

 

Sportech’s Quantum™ technology has helped betting clients all over the world find new markets for their products and new content for their consumers.  On the heels of the successful implementation of the “Ascot World Pool” for UK Totepool, Ascot Racecourse, and the Hong Kong Jockey Club, we are delighted to support SIS in offering a global pool to satisfy the world greyhound racing market.”

About SIS

SIS (Sports Information Services) has been a trusted partner to the global betting industry for over 30 years, supplying short form betting content to online and retail betting operators. Our horse and greyhound racing content can help keep customers engaged and increase dwell time online and in-shop.

SIS provides operators with an end-to-end solution for horse and greyhound betting including data, live pictures, prices and derivatives, creating betting events to help drive profitable sales. For more information about SIS please visit www.sis.tv.

 

About Sportech

Sportech PLC is the international betting technology business delivering services and solutions to gaming companies, sports teams, racetracks, casinos and lottery clients across 37 countries.  In addition, the Group owns and operates sports gaming venues in Connecticut, United States, under exclusive licenses.

Sportech is a leading global provider of wagering technology solutions to licensed betting operators worldwide. Sportech systems process US $12 billion in bets annually for licensed operators across 37 countries. For more information, visit www.sportechplc.com.

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: SIS Selects Sportech To Provide Global Commingling Solution

Continue Reading

Industry News

WePlay! Dota Underlords Open: the registration for all comers starts!

Published

on

By

Reading Time: 1 minute

 

Dota Underlords fans from all over the world are welcome to register and compete for the total prize pool of $15,000.

WePlay! Esports has revealed the details for everyone willing to take part in WePlay! Dota Underlords Open open qualifiers. The registration is open from July 15th till July 23th, 2019, 23:59 CEST (14:59 PDT). The schedule and registration process details are available at WePlay! Esports website.

To sign up for WePlay! Dota Underlords Open participants are needed to have an account at Challonge.com and also join WePlay! Esports Discord channel. Regular announcements and news will be available at the #underlords_open_announces group; all communication with the players will be held through Discord.

Dota Underlords Open will have two divisions: Vicious Order (Europe) and Crimson Gang(Americas). The divisions are not region-locked, so players from all over the world can participate. Each round will have three games. The best four players with the highest points move on to the next round. The qualifiers will be taking place until there are only eight players. Those eight players will be invited to the main event, taking place from August 1st to August 4th, 2019.

Players are entitled to participate in qualifiers through multiple regions and, moreover, they can play from a mobile device. Participants are also allowed to stream their games on their private Twitch channels, but they are not allowed to stream the main event (after the end of the qualifiers).

WePlay! Dota Underlords Open open qualifiers start on July 24th and will be taking place till July 28th, 2019. The winners will be invited to the main event with a $15,000 prize pool.

More details of WePlay! Dota Underlords Open tournament are available at WePlay! website.

#WePlay #WePlayDotaUnderlords

Source: WePlay! Esports Press Office

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: WePlay! Dota Underlords Open: the registration for all comers starts!

Continue Reading
Advertisement
NSoft

Trending