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Was Chinese online lottery Suspension Sensible
Friday May 22,2015 : CHINESE LOTTERY SUSPENSION A SENSIBLE MOVE
G2E panel holds out hopes for a resumption of business in a more controlled environment.
Panel speakers at the G2E Asia conference this week said that the suspension of Chinese online lottery activity by the Chinese authorities was an understandable move on the government's part to bring more order and control to a rapidly expanding sector.
The success of the booming online lottery business had been beyond expectations, with lottery sales companies generating increases in revenues of more than 100 percent annually in some cases. That understandably motivated the authorities to review the situation with a view to increasing regulation and control, said the CEO of media and digital group Vermantia, Filippos Antonopoulos.
Delegates heard that last (April) month the Ministry of Finance in China gave the green light for a pilot project involving mobile phone instant lottery action in the Jiangsu province, and that this was in progress at present. It was a bold and ambitious initiative, given the size of the province and its population, and it showed government confidence in the viability of such a digital market, experts opined.
It also raises commercial questions that remain to be answered if the pilot project is a success, namely whether inter-province selling will be permitted and the future nature of the gambling environment, the panelists said.
Another panelist, John English of Webe Gaming, said that province by province test marketing involving major re-seller companies has shown that punters become more demanding in relation to the quality of the gambling experience and the games on offer, challenging the industry to be more innovative and imaginative, especially on the possibilities that sports betting could offer.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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