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People Cutting Down on social drinking and gambling.

The business news agency Bloomberg has realised what many online gambling operators are starting to acknowledge - times may be tough, but there are great business opportunities for the industry being generated by the current economic crisis and its impact on the consumer.
 
In an interesting article this week, the news outlet found that in Ireland the man-in-the-street is feeling the economic pinch and has started to cut down on two major pastimes - social drinking and [land] gambling.
 
Focussing on the gambling element of the story, Bloomberg noted that Paddy Power plc, Ireland’s largest bookmaker, revealed this week that the average stake at its Irish land betting stores fell 3.4 percent last year. About a fifth of Ireland’s 1 300 betting offices may close by the end of next year, Goodbody Stockbrokers said of the trend.

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And yet, in company with Internet gambling companies elsewhere in the world, Paddy Power's Internet gambling division produced strong 2008 results, contributing some 70 percent to operating profits and becoming the group's main vehicle for accessing international markets. In the UK, William Hill plc revealed this week that it continues to expand its online gambling operations as a critical component in its international strategy (see previous InfoPowa reports).
 
“The [Irish] economy is having an impact now,” said analyst Liam Igoe at Goodbody in Dublin. “Rather than going to pubs and betting shops, people are staying home and ordering pizzas, buying beer in and betting online. That’s going to continue.”
 
Ireland's gross domestic product may contract by about 6 percent this year and consumer spending will plunge 7 percent, according to Goodbody. It also forecasts that unemployment will rise to 15 percent by the end of 2010, as companies including Dell Inc., SR Technics and Intel Corp. cut jobs.
 
Retail sales plunged an annual 8.3 percent in December, capping the worst year for stores in more than a quarter century.
 
Forty betting stores have already closed across Ireland, Paddy Power said this week. William Hill Plc is closing 14 of its Irish outlets and in all, bookmakers will shut 250 by the end of next year, according to Igoe, as the economic slump combines with a doubling of Irish betting tax to curb demand.
 
“Gamblers just want to cut their cloth a little bit,” Paddy Power CEO Patrick Kennedy told Bloomberg this week. The average bet placed at his outlets has fallen to Euro 21.45, he said.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

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Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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