Gambling Industry News

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Shin Hwa World Wants to Raise $39 Million to Improve the Jeju Integrated Resort

Details: Category: Gambling Industry; Created: Friday, 19 April 2024 14:06

Shin Hwa World Ltd has unveiled a strategic plan to reorganize its capital, which is expected to enhance its financial structure. Additionally, the company aims to raise approximately $39 million to bolster the staffing and facilities of its Jeju Shinhwa World. This initiative includes a share consolidation, where every ten shares of HK$0.01 will merge into a HK$0.10 share, a step that will streamline the company's share structure and potentially increase shareholder value.

There will be a capital reduction where the shareholders’ issued share capital will be rounded to the nearest whole number. As a result, fractions within consolidated shares are canceled. The surplus will be part of the firm’s account.

According to PPH sportsbook reports, Shin Hwa World predicted a surplus of about $5.8 million due to this move.

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World Poker Tour Goes to China for the First Time

Details: Category: Gambling Industry; Created: Saturday, 16 March 2024 03:49

world poker tour china The World Poker Tour took twenty-two seasons before it could hold a series in China. According to the WPT, at least two tournaments will be held in Wynn Macau from June 18 to 24. Also, it partners with Wynn Macau and Allied Gaming and Entertainment for the event. It showed the growth of iGaming.

The HyperX Arena at the Luxor is well-known to WPT fans because it is where the WPT taped and broadcasted the final tables of various tournaments. According to pay per head sportsbook reports, it was here that Bin Weng began his quest to become the 2024 Global Poker Index Player of the Year.

The HK$40,000 buy-in Championship event will be held from June 20-24. It will be the highlight of the WPT Macau festival, which runs from June 18-24. Held from June 19th to the 20th, the WPT High Roller tournament has a buy-in of HK$200,000. That is all there is to the timetable now.

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New Hampshire Sports Betting Handle Continues to Increase in November

Details: Category: Gambling Industry; Created: Saturday, 23 December 2023 05:51

New Hampshire sports betting handle increased month-over-month in November. However, the $78.5 million handle was less than the previous year’s $93.1 million. On the other hand, it is the highest monthly total in the state for eight months.

Online wagers amounted to $67.9 million, while retail sportsbooks in New Hampshire took in $10.6 million. When we look at the total money made from gambling in November, it was $8.2 million. It is up 64 percent from $5.0m the previous year but down 5.8 percent from October's $8.7m haul.

Most of the month's wagering earnings, $6.6 million, came from online sports betting. Retail betting brought in the remaining $1.6 million. Thus, it is an excellent time to open a sportsbook in New Hampshire.

Regarding online sports betting in New Hampshire, DraftKings is still your sole option. It ensured the state's exclusive rights in November 2019. The decision to provide DraftKings an exclusive contract to handle sports betting in New Hampshire was approved by the New Hampshire Executive Council, a body responsible for approving lottery decisions.

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Massachusetts Sports Betting Revenue Record Broken in January

Details: Category: Gambling Industry; Created: Saturday, 17 February 2024 17:37

Massachusetts sports betting revenue increased 17 percent in January compared to the previous month. Also, it broke the record set in May 2023. However, the betting handle dropped 1.1 percent from December’s $658.7 million. Sports betting operators paid $5.8 million in taxes, down from 9.4 percent in December.

Since the launch of sports betting on the final day of January 2023, Massachusetts has seen quite encouraging development. According to bookie pay per head reports, bets placed online accounted for 99.4 percent of January's handle, demonstrating the continued high performance of online.

For January, Massachusetts's casinos brought in $93.5 million in GGR, down 10.1% from December's total of $103 million. The leader, Encore Boston Harbor, has amassed $60.9 million in gross gaming revenue (GGR) from tables and slots.

Even though DraftKings' $315.9 million handle was $4.5 million lower than the $311.4 million it earned in December. According to pay per head sources, it is still clearly Massachusetts's leading sports betting market.

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Caesars Launched New Games from IGT PlayDigital in West Virginia

Details: Category: Gambling Industry; Created: Sunday, 26 November 2023 00:26

caesars igt playdigital Caesars Entertainment announced its partnership with IGT PlayDigital in West Virginia. Thus, Caesars launched new games for its players in the state. The games feature unique themes and rewarding features.

The introduction has opened the door to new games with intriguing and rewarding features and distinctive themes for consumers aged 21 and up. Among these is Caesars Cleopatra, the newest game from IGT made for Caesars' online gaming platforms. The new slot machine incorporates pictures of Caesars Palace with the classic Cleopatra motif.

According to PPH bookie experts, the slot machine has 20 pay lines and many exciting features against the backdrop of Las Vegas's Caesars Palace. West Virginians who play the new slot game can look forward to fan-favorite symbols and exciting features that promise an unforgettable experience with the possibility to win enticing rewards.

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BGC Wants Seamless Affordability Checks on UK Bettors

Details: Category: Gambling Industry; Created: Saturday, 20 January 2024 03:47

After the UK government announced the debate on the proposed financial risk checks, the Betting and Gaming Council wants the government to implement seamless affordability checks. They want the process to be unintrusive to players.

If the original idea goes through, gaming businesses must verify that their customers can afford to gamble if they lose a moderate amount of money. Operators are responsible for acting if they identify a client like this to prevent them from losing further money and developing a gambling addiction. According to government estimates, only around 20% of customer accounts will be subject to such audits yearly.

Neil Truesdale, CEO of The Jockey Club, created a petition to halt the UK government's plans to enact this legislation. According to sportsbook reviews and news sites, the petition successfully gathered over 100,000 signatures, which led the government to arrange a discussion on the subject. The British horse racing business and the possibility of discrimination were two of the main concerns voiced by those who were against the plan.

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Detroit Casino Council Reached a Compromise with Penn and MGM

Details: Category: Gambling Industry; Created: Saturday, 18 November 2023 22:51

The Detroit Casino Council reached a compromise for a new deal with MGM Resorts and Penn Entertainment. However, the unions will continue their strikes that have been ongoing for over a month. They will stop the strikes after the ratification of the proposed contract.

According to casino software experts, the DCC, a negotiating group for five labor unions, has never been on strike.

DCC's new agreement offers the highest-ever pay rise to casino workers, including an 18% salary increase, no rise in healthcare expenses, workload reduction, employment safeguards, technological contract language, and better retirement benefits.

Unions such as the United Auto Workers (UAW), Unite Here Local 24, and Teamsters Local 1038 negotiated contracts for their members with these businesses. After agreeing to a three-year contract renewal in 2020, the negotiating committee pushed for and received yearly rises of 3 percent to keep pay up with inflation. According to sportsbook software reports, a DCC announcement claims that inflation in Detroit has increased by 20% since then.

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