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Virtual Gaming World Gets Philippines online gambling license

Monday November 18 ,2013 : AUSSIE SOCIAL ONLINE GAMING FIRM TO EXPAND
 
Virtual Gaming World has a Philippines online gambling license.
 
Australian  readers may recall the name Lawrence Escalante, the young Perth entrepreneur who raised capital online to launch his Facebook social gaming company Virtual Gaming World and its Chumba Casino subsidiary.
 
Escalante used a typically social gaming business model to generate revenues, allowing his online players to buy extra chips for premium action rather than playing the slots and card games for rewards.
 
The Australian Financial Review reported over the weekend that Escalante now plans to take the Chumba action wider and for real-money within the next few weeks, using a recently acquired Philippines internet gambling licence.
 
Escalante additionally has expanded his Facebook action by offering Chumba's 200,000 active monthly users sweepstakes action. Apparently two thirds of his player base is US-resident, where laws pertaining to sweepstakes-style gambling are ambivalent - pursued in some states and permitted in others, and Escalante is exploiting this.
 
The idea is to allow users to buy virtual credits with which to gamble on his slots, enabling them to "cash in" any credits they win for a variety of prizes.
 
Escalante hopes that the new venture will increase the revenues per head he currently makes from around 15,000 active daily users, along with attracting more punters to his Facebook casino.
 
There is some cause for optimism already - Escalante claims that after one month, with no marketing, he is already seeing sweepstakes users “deposit more and play far more often” than those in the “social casino.”
 
The Australian entrepreneur raised $A2.5 million in private investment and says he is mid-way through raising a further A$5 million from as yet unnamed investors. He has gathered experienced managers around the company, including Steve Parker, the former general manager of slot manufacturer Aristocrat Leisure, and ex-studio manager Edgar Pau, who has recently designed for US company Bally, and is the start-up’s head of slot machine design.
 
Innovative slot design is a key objective. “Better slot games are the biggest monetiser of a social casino,” says Escalante.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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