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Online Casinos Finding It Hard To Profit In Delaware
Monday July 14,2014 : OPERATORS FINDING IT HARD TO PROFIT IN DELAWARE
Slow start to online gambling makes for disappointing results.
Delaware's relatively new online gambling legalisation regulations stipulate that the state gets all of the first $3.75 million in revenue each operator generates, making it hard to prosper in a market that is currently delivering dismal results below initial expectations.
The latest figures from the First State show that online gambling has fallen well short of its target of $5 million in revenue during its first fiscal year.
The venture brought in little cash for the state and none for Delaware's land casinos which have online operations, according to local media reports.
Since launch last November, online gambling has brought in $1.2 million, and the state's return from startup and vendor fees came to a mere $318,000.
Officials told the Associated Press news agency that the projection for fiscal year 2015 calls for $3.3 million in online gaming revenue....still not enough for casinos to make money.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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