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Sportech Looking at Nj Online Gambling
Friday August 23,2013 : SPORTECH EYES NEW JERSEY FOR ONLINE GAMBLING
US action could revitalise company's struggling online gambling activities
The Sportech gambling group's struggling Playtech-powered e-gaming division could be given a new lease of life if the company is able to enter the legalised New Jersey online gambling market in November this year, an area in which it appears to share competitive ambitions with a number of other international online gambling firms.
The company's online gambling results posted earlier this week reflected a first-half decline in earnings, which slid from a profit of GBP 700,000 in 2012 to a similar figure but on the red ink side of the book in the same period this year, despite an 8 percent improvement in revenues, a growing client base and heavier marketing.
Sportech is well-placed to advance in the US; it has a presence through the successful Sportech Racing subsidiary, which currently generates around 40 percent of the group's earnings, and holds a slew of betting licenses across almost half the US states.
Chief executive Ian Penrose has made no secret of his intention to turn that substantial US presence into a competitive online gambling venture in states where this is legal, and he has revealed that talks are in progress with a number of potential software providers.
If successful in New Jersey, Sportech will find itself in some august company, according to a mix of recent media reports and speculation.
Some 37 companies, several US land giants partnered with major online gambling companies among them, have already applied for New Jersey licensing, where online gambling will be confined to existing Atlantic City land operators.
All but two of those operators have already clinched online gambling operational partnerships, leaving only Revel and Atlantic Club still to announce partners.
The rumour-mill has it that the giant American horse-racing conglomerate Churchill Downs - which already has considerable experience in online wagering through its TwinSpires.com company - may be interested in Atlantic Club, which controversially backed out of a deal with Pokerstars earlier this year).
The innovative and energetic UK land and online gambling group Paddy Power is also rumoured to have plans to expand its international reach into the US, and has reportedly made application, too - there is talk of an Atlantic Club move there as well.
Another recent foreign contender is UK-based 2UP Gaming, which has announced that it has the financial clout to take an acquisition run at an unidentified Atlantic City land casino...or build one of its own. The company has indicated that it has substantial Asian backing, but has not identified from whom.
The latest speculation was triggered by tweets from an Atlantic City casino business publication which suggested that the huge Malaysian and UK land and online gambling group Genting may be interested in Revel.
New Jersey looks set to be a highly competitive and overcrowded online gambling market...but that could mean better offers to players.
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Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
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The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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