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Aussie Punters Lose 4.87 Billion

Australians in the state of Victoria lived up to a reputation for being serious gamblers over the past year, according to statistics released this week by the Victorian Commission for Gambling Regulation which  show that gamblers lost A$ 4.87 billion in the year to June 2008 on poker machines, lotteries, table games and sports betting.
 
State coffers benefitted significantly by garnering A$1.58 billion in gambling taxes. PartyCasino
 
Of that, A$1.58 billion flowed into government coffers in taxes and levies, the report, tabled in state parliament on Wednesday, shows.
 
Criticising the state government, the Victorian chapter of the Liberal Party of Australia said in a statement that the Commission's report demonstrates an over-reliance on gambling revenue to fund basic services.
 
The Shadow Minister for Gaming, Michael O'Brien, referred media to Appendix 14 of the 2007-08 Victorian Commission for Gambling Regulation Annual Report, saying, "...the reality of Labor's handling of the gaming portfolio - in 2007-08 Victorians lost a record A$4.87 billion on all forms of gambling, and they paid Premier John Brumby a record A$1.58 billion in taxes for the privilege."
 
He added: "Labor is now so dependent on gambling to fund basic services that its gaming tax collections are around the same as Victoria Police's annual budget.
 
"Victorians don't want police numbers dependent on pokie numbers. Hospital beds shouldn't rely on horse racing. The State Labor Government should be prepared to fund basic services without this over-reliance on gambling taxes.
 
"Unfortunately, with the slowing economy threatening to affect property taxes and GST revenue, the Brumby Government will be relying on gambling to plug its leaking budgets into the future," O'Brien claimed.

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IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

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Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

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Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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