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Virgin Video Gaming ?

6/16/10 - Virgin’s engaging founder and entrepreneur in chief, Sir Richard Branson, is renowned for identifying new and commercially exploitable trends, and his recent venture into video gaming  is a good illustration of his talents.
 
Virgin’s partnership and rebranding of Canadian-based World Gaming last week is described by Branson as having the potential to form an online competitive platform that allows video game players to wager cash they’ll win against their opponents, and that makes kit a sure bet.
 
To exploit the concept, Virgin has opened an office in Toronto for Virgin Gaming, which will follow a skill-gaming business model in which people challenge equally skilled players to online video game matches and wager on the outcome. All perfectly legal, even in legally complex North America.
 
Virgin Gaming’s first CEO, Rob Segal, says that there are 40 million people already playing video games over the Internet through the Xbox 360 and PlayStation 3 consoles.
 
All Virgin Gaming has to do is tap into it, he said.
 
“It wasn’t a question as to whether or not there was an industry out there, the question was who’s going to be the first person to figure out how to - in an automated approach - be able to offer a product like Virgin Gaming,” Segal explained to Canadian media reporters this week.
 
“This is the next big thing,” he said. “It’s the future of online gaming.”
 
In typically Branson style, the new Virgin company will make the enterprise attractive to players, initially investing over a million dollars in prize money for the online gaming tournaments it intends to organise as a promotional exercise.
 
Virgin Gaming has 42 employees, mostly held over from World Gaming, and will be opening another office in Santa Monica, California, Branson revealed. It will also have access to diverse stable-mates in the wider Virgin group.
 
College roomies Bill Levy and Zack Zeldin, who founded World Gaming, applied the concept of poker tournaments to the video gaming field in their initial business moves and soon found they had hit on a winner, attracting Segal as an investor – one who would subsequently present the idea to Virgin.
 
Segal immediately saw the potential, noting that in online poker, a busy night could see over a million and a half players online contesting tournaments. With console gaming, there are more than 40 million people playing Xbox and PlayStation online, delivering even greater potential if marketed effectively.
 
Virgin Gaming’s automated system allows gamers of all levels to play against each other by matching competitors through a skill rating. This protects players by allowing them to challenge members who are better than they are, but not worse.
 
Segal said that only the biggest video game titles with a clear definition of victory, such sports games, racing games and first-person shooters will be supported by Virgin Gaming.
 
While signing up for the service is free, Virgin Gaming will charge tournament management fees, he said.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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