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FURTHER PROGRESS FOR IN-GAME BETTING FIRM
Global Interactive Gaming's in-game betting product SportXction continued to rack up the positive numbers in June, vindicating the faith that parent group Interactive Systems Worldwide Incorporated (ISWI) has shown in the play-by-play wager concept in sporting events.
The system accepts fixed bets while punters view or listen to sporting events through public media.
Turnover hit $4 million for the month of June, a company spokesman revealed - the largest yet recorded by the London-based GIG, and an increase of 77 percent over the same period last year, and a 66 percent increase over the month of May 2008's $2.4 million.
Record net revenues of $302 000 have also been highlighted, delivering a ‘hold’ percentage, or the total amount retained by the system after winning wagers are paid, of 7.58 percent.
Limited cash resources remain management's top priority and $50 000 in debt financing was achieved in June through the issuance of a promissory note to help the firm handle a short-term liquidity issue.
The one-year contract of ISWI's CEO Bernard Albanese has been extended by three months from end June in order to allow the firm enough time to resolve liquidity issues without burdening it with 'additional long-term commitments'. The company revealed that Albanese has not drawn a salary since April 2008, although his pay is being accrued as a liability by the company at a voluntarily reduced rate of $180 000 a year.
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Gambling News :
Betsoft Gaming In Deal With SuprNation -
Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.
Ladbrokes New SPonsor of The Hennessy Gold Cup -
The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.
Ladbrokes Appoints Annemarie Durbin -
Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.
Olympus Slot Pays $210k Jackpot to USA Player -
“I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”
Divine Fortune SLot Launches -
NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.
2 Huge Wins at Bovada Casino -
Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.
China Internet Clean Up Campaigns -
The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:
AOPA to campaign for poker to be left alone -
The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.
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