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GEOSWEEP LOTTERY ROW GROWING IN CANADA

Monday July 23, 2011 : GEOSWEEP LOTTERY ROW GROWING IN CANADA
 
Multi million dollar investment in Brit company questioned
 
The Canadian provincial government of Prince Edward Island  is facing questions over its investment of Cdn$4 million in the British internet gaming company Roboreus and its Geosweep product, which has reportedly not delivered a convincing performance in the British market.
 
Geosweep is an interesting variation on the normal lottery business model in which instead of wagering on a lottery ticket number, the punters buy their favourite "geo" - a specific point in the organising country - in this case Atlantic Canada, where 2.3 million geo’s have been arranged for wagering at a cost of Cdn$7.50 for a month.
 
What concerns detractors from the concept is that a pilot program in the UK earlier this year generated daily income of a mere GBP120.
 
On a provincial basis, governments in the Atlantic provinces of Canada are themselves at odds, with Prince Edward Island and New Brunswick each putting up Cdn$4 million on the project, but Nova Scotia and Newfoundland and Labrador declining to get involved.
 
PEI Finance Minister Wes Sheridan defended the project this week, saying that Atlantic Lottery products need new offerings to maintain revenues as income drops from older-type lottery products, and the GeoSweep project could pay for itself in three years.
 "You have to take a look at a concept where you think it may be something that would turn a very good investment dollar over," Sheridan told CBC.
 
"If we sit idly by and let our revenue sources continually decline we'd be in no position to continue to have government grow."
 
Opposition finance critic Steven Myers said given the U.K. pilot failure, Sheridan should have followed the lead of Nova Scotia and Newfoundland and Labrador.
 
"We're throwing out $4 million at a time when we can't fund the $4 million that they need to build the high school in Souris and we can't get the $1.2 million to build an expansion on the Montague Intermediate school," said Myers. "It seems like a bad time to be gambling our money."

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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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