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Evidence That Online Gambling Not A Threat To Land Based Ones
Friday March 21,2014 : MORE EVIDENCE THAT ONLINE GAMBLING NOT A THREAT TO BRICK AND MORTAR COMPANIES
Growing body of empirical evidence that online gambling complements, not cannibalises.
Fears in more conservative quarters in the United States that online gambling will take business away from traditional land-based casinos are gradually being assuaged as increasing numbers of experienced gaming executives provide empirical evidence to the contrary.
Joining senior executives from Boyd Gaming, Caesars Interactive Entertainment, Borgata, the American Gaming Association, Genting's UK group, and seasoned regulators like former Nevada Gaming Control Board chairman Mark Lipparelli this week was Chris Sheffield, managing director of Betfred, who said that there has been no evidence of business cannibalisation between online and the company's widespread UK offline gaming network.
Speaking at the iGaming North America conference, Sheffield said that he sees no cannibalisation between online and offline gaming in the nation-wide operations of his company, which operates 1,378 store locations and the Tote in the United Kingdom, along with an online casino, sportsbook and poker site.
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Paddy Power plc has released its H1-2014 results -
Online and land gambling group Paddy Power plc has released its H1-2014 results for the six months ended 30 June 2014, underlining strong growth but a decline in operating profit following adverse sports results.
Fortuna Entertainment Group has posted H1-2014 results -
The Czech betting company Fortuna Entertainment Group has posted H1-2014 results that include a 16.4 percent increase in EBITDA, thanks to the additional business flowing from the FIFA World Cup held earlier this year in Brazil.
EPT Barcelona Results -
Belarus poker pro Ihar Soika topped all of his previous live tournament winnings combined this week when he claimed the Euro 747,200 first prize in the Euro 10,300 buy-in European Poker Tour Barcelona despite starting the final day fourth in chips out of the final 21 players.
Swedish Gambling Revenue Down 3 Percent -
Sweden's restrictive gambling regulatory regime continues to hobble the industry in the Nordic nation, with Lotteriinspektionen - Sweden’s gambling and lottery authority - reporting this week that in the first half of 2014 revenues declined by 3 percent compared to H1-2013.
OPAP reports Q2 results -
Earlier this week the privatised Greek gambling monopoly OPAP warned the market that a tax demand dating from 2010 would impact its quarterly earnings, and that proved to be the case Wednesday, when the operator booked a Euro 29.6 million tax debit, explaining that historically it had negotiated a deferred payment with the Greek government which fell due in the second quarter.
Go Bananas and Sunny Scoops Slots Launch -
Stockholm-based games developer Thunderkick has pumped out another new and innovative slot this week in Sunny Scoops, a game with an ice cream theme presented through sharp and colourful graphics.
Record Revenues for Bally Technologies -
Bally Technologies, Inc., a major US gambling equipment and content supplier, has posted its fiscal FY 2014 results, highlighting record revenues up 22 percent to $1.2 billion, pushed by increases of 30 percent in systems revenue and a stand-out performance from wide area progressive network revenues.
NFL Odds: Seahawks vs Packers -
In little over a week, the Seattle Seahawks will set out to officially reprise their roles as Super Bowl champions. The titleholders will kick off the new campaign as hosts to the Green Bay Packers in Thursday night’s opening week matchup.
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