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German lottery firm's move into sportsbetting doing well

Jaxx AG, the German lottery firm that moved into the sportssbetting field two years ago, published positive results for June this week, showing record levels in profits and customer acquisition for the month, mainly from its sportsbetting activities.
The firm runs lotteries and has betting offices in Altenholz near Kiel, and reports that its success was aided by betting action on the Euro2008 football championships and the Deutsches Derby flat racing event in Hamburg, which yielded consolidated revenues of over Euro 10 million in June 2008.
“We benefited particularly by avoiding one particularly dreaded scenario, the favourites did not win either the European Championships or the Derby, and this enabled us to post a healthy profit,” said Stefan Hanel, the Finance Director of the company.
Jaxx bookmaking margins were well above the industry average because the overwhelming portion of its betting business is now generated outside of Germany and that country's restrictive gambling controls under the controversial State Treaty on Gaming. The Treaty does not apply to horse betting but Jaxx stated that it is gradually achieving greater independence from the German lottery market by the successful expansion of its betting business.
Net betting incomes were good in a company that has not previously generated gross profits of more than Euro 1.96 million in a single month from betting products. Carefully planned advertising had also succeeded in pushing new customer signups to higher levels, a company spokesman said.

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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.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

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.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

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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