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Betfair Leaving Russia

Wednesday April 9,2014 :  BETFAIR CURTAILS RUSSIAN OPERATIONS
 
Strategy to focus on regulated and sustainable markets applied again.
 
Russia is the latest country to be placed the growing list of online gambling markets in which Betfair is cutting back on marketing and new player signups, or has exited altogether.
 
The UK betting group has announced in an advisory to affiliate marketers that from April 11 it will cease signing up new players from Russia and plans to cut back on marketing in the region as a result of recent developments in the sprawling Eastern European nation.
 
The company said it will also remove Russian language links from its site.
 
The advisory assures affiliates that existing revenue deals will be honoured, suggesting that existing players will continue to be serviced, although for how long is not known.
 
Recent Russian blacklisting moves of major online gambling operators are believed to be the motivation for Betfair's move, although CEO Breon Corcoran has repeatedly said that he wants the company's focus to be on sustainable markets, and to this end services have in the past been pulled from countries like Spain, Germany, Greece and Cyprus
 
The company clearly anticipates the negative effect on revenues that its business strategy will have, and has warned investors that revenue growth is likely to suffer.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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