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California Online Poker costing the state millions

CANADIAN ANALYST SAYS CALIFORNIA IS MISSING OUT ON A GOLDEN POKER OPPORTUNITY
 
Continued failure of legalisation bills is costing the state millions.
 
In the latest issue of the Cantor Fitzgerald newsletter Cantech Letter, analyst Ralph Garcea gives “Buy” ratings on internet poker providers like Amaya, Intertain Group, Innova Gaming, and NYX Gaming, but notes that it is unfortunate for online gamers and for the state of California that state lawmakers continue to arrive at an impasse when it comes to passing an online poker legalisation bill.
 
Garcea notes that New Jersey, which recently moved to allow online gaming, had a banner month in the typically slow July, with Internet GGR up sharply, and he claims that with about a million online poker players in California that market is estimated to be worth more than $400-million, with a proposed 10 percent tax on the table.
 
The state is missing out on a tax windfall that other states have jumped on, Garcea observes.
 
“With California’s 2016 legislature session coming to a close on August 31, 2016, PokerStars will have to wait, unfortunately, until next year to see if the state will bring legalized and regulated poker to the state’s many users,” says the analyst.
 
“This marks yet another legislative session where an online poker bill has not been voted on – no online poker bill has ever been voted on by the full Assembly. While California still tries to make up its decade-old mind, Nevada, New Jersey and Delaware all have legalized and regulated online gambling – with New York, Pennsylvania and Michigan moving along the process.”
 
Garcea notes that for Amaya, California probably isn’t in the cards in the short term due to the insistence by some interested parties on draconian "bad actor" provisions in any legislative proposal.

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Gambling News :

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Club’s application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.

Lost Vegas Slot Launches - “Lost Vegas” is a new release on Microgaming’s October roster, a five-reel 243-payline game that offers punters the option to play in either Survivor or Zombie mode throughout the base game, a choice that affects the symbols and bonus games on offer.

Leap Gaming Partners With Pala Interactive - Israeli-based developer Leap Gaming has clinched its second deal in a week, this with Pala Interactive for the integration of its virtual sports turnkey product to Pala’s white-label social gaming platform.

Sportech Racing Partners With Macau Jockey Club - Sportech Racing and Digital has partnered Macau Jockey Club (MJC) for the provision of a white-label digital pari-mutuel betting platform and other retail solutions.

Bla Bla Bla Studios - Under the terms of the deal Bla Bla Bla Studios will develop and distribute exclusive gaming content for integration into the Quickfire platform.

Betser Powered By SBTech - #Betser is inspired by fantasy football, private betting leagues and social betting. The offer includes a twin-track loyalty scheme devised by Malta-based Hero Gaming, who operate Casino Heroes.

EveryMatrix has appointed Glen Bullen as Sales Manager - Bullen assumes responsibility for the entire casino sales operation, particularly focusing on growing distribution of the newly-updated and expanded CasinoEngine platform into Tier One operators.

Freemasons Fortune Slot Launches - Booming Games has launched Freemasons Fortune, a new 3-reel, nine-payline game inspired by the enigmatic Freemasons fraternal order.

Hollywood Classic Slots launches - Penn Interactive has launched Hollywood Classic Slots, a social casino game developed in collaboration with its recently acquired social gaming company Rocket Games.

Pagcor relents on 20 venues - In an announcement to the local stock exchange Monday, the company revealed that 20 of its 36 e-bingo revocations have been lifted, enabling operations to continue.

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