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Meet BetConstruct at PAGE 2019

Posted: 02 Jul 2019 06:21 AM PDT

Meet BetConstruct at PAGE 2019BetConstruct is paving the way to the center of the eastern gaming world – Manila to take part in the annual Phil-Asian Gaming Expo 2019.

During this spectacular event, BetConstruct promises not only to show off its tried-and-true products but also surprise the attendees with the newly developed unique games among which are Talisman and Blast. While Talisman is mainly based on luck where players choose their favorite number or symbol and win big, Blast is focused on attention and desire to catch the highest bet possible.

BetConstruct will also show off its new live casino game called Bet-on Teen Patti, which is already famous for its concept. The recent updates of Sportsbook and Casino RNG earned the company a title of Mobile Services Supplier of the year at EGR B2B Awards. Both solutions alongside Fantasy Esports with its LOL and CS:GO games will be also presented at our Stand 2312.

Come and meet us to find the right solutions for your business.

Book a meeting

BetConstruct is a global award-winning technology and services provider for online and land-based gaming industry. BetConstruct's innovative and proven offerings include Online and Retails Sportsbook, Classic and Virtual Reality RNG & Live Casinos, Poker, Skill Games, Fantasy Sports, Social Gaming Platform, Sports Data Solutions and more – all ready to be launched and managed through SpringBME, its pioneering Business Management Environment .

Within Sports Data Solutions, the AI-powered scouting tool AJNA performs game flow recognition and provides statistics and extremely accurate technical data to create new unique markets to bet on.

All partners benefit from the BetConstruct Spring Platform with its powerful back office tools and all-inclusive services. From stand-alone set up to turn-key and white label solutions, BetConstruct offers its partners unparalleled opportunity to succeed.

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After 11 years, Nevada gambling is still in recession

Posted: 02 Jul 2019 04:34 AM PDT

The stock market is at record highs, unemployment is at record lows, we are now officially in the longest uninterrupted economic expansion in the history of the United States, and the Nevada gambling market continues to be in the longest recession in its history.

after-11-years-nevada-gambling-is-still-in-recessionEconomic statistics don't mean much of anything on an individual level or sector level. It's mostly just a statistic that investors use to guess everyone else's next moves, and politicians use them to pat themselves on the back and justify taking a bigger share of it all. If you're making less money this year, you're in a personal recession regardless of what the aggregates say. If you're making more but the stuff you buy is getting more expensive even faster, you're still in recession and how the statistics are doing is irrelevant. This is the case for the Nevada gambling industry, too. For 11 years now, Nevada has yet to break to new highs in gambling revenue, even as the consumer price index (CPI) has risen by 20% since then.

Peak Nevada occurred way back in 2007, with $12,480,790,793 in statewide gambling revenue. Over the next three years, gross gaming revenue in Nevada fell by 20.6% overall for the biggest sustained decline since statistics were recorded. Over the next 8 years, revenue has clawed back 17%. At this rate, it'll be another 4 years until we hit the 2007 highs. My bet is we're not going to make it back there before the next decline takes hold, and even if we do, adjusted for price inflation we'd have to clip off 20% from 2007 dollars to 2018 dollars. (CPI at the beginning of 2008 was 212.174, compared to 255.155 now). By the time we reach the nominal high in 4 years at the current rate, we'll probably have to clip off another 10% at least. Like a hamster on a wheel running after a moving target (is that a thing?), full recovery for the Nevada gambling industry looks to be out of reach.

In comparison to any other recession since the 1970's, the last one was by far the worst for Nevada. It's not even close. In 2001 after the tech bubble burst, Nevada gambling revenue fell 4.3% peak to trough, but was back to new highs by 2004. Following the recession of 1990-1991, we didn't even see a fall in annual revenue. We saw sluggish growth at only 1.3% in 1992 compared to the year before of 11.3%. But still the industry kept growing. If we want to move back even farther we have to move to Clark County Statistics, because the Center for Gaming Research only goes back to 1984. The double dip inflationary recession of 1980-1982 was rough, with Clark Country gambling revenue climbing only 16.7% in three years while price inflation exploded 25.64%. Clark County didn't overcome the slump adjusted for inflation until 1985 despite an 18.9% rise in visitors over those 6 years.

It's not that people have stopped coming to Las Vegas. By 2012, Clark County was seeing new highs in annual visitation. They're just not spending as much time or money gambling. Also, the rate at which people are coming has slowed to a tortoise crawl. The percentage increase in visitation over the last 11 years has been less than the increase from the 4 year period between 2003 and 2007. Since 2016 though, total visitor volume has dropped, and we've basically been static since 2014. The fall from 2016 to 2017 in total visitation was eclipsed by the dramatic increase in convention visitation, but now even that number is falling. Total Clark County gaming revenue is still 5.7% below the 2007 peak despite the U.S. money supply more than doubling since then.

There are many ways to explain this, some bullish and some bearish. Factors both good and bad are responsible in different degrees. It's just a question of which is more dominant. On the bullish side, we have the increase in regional gaming popularity and casinos in Asia, stealing some of the market from Las Vegas. The Las Vegas monopoly on sports betting in the U.S. is now off the table, so this trend could continue. We can see this in the regional versus Las Vegas table games drop statistics out of MGM. Table games drop is down 7% in Las Vegas, but up 9.75% in the regional market (page 28), so this is definitely a factor. On the bearish side and more broad strokes, we have this chart from Reuters that just came out today.

after-11-years-nevada-gambling-is-still-in-recession1

It is no surprise to anyone who understands the damages of currency devaluation. Since 2007, the vast majority of Americans have gotten poorer from a pure individual balance sheet perspective, while the wealthiest 1% have gotten richer. This is not a new trend. It has been in place since 1971. From 1940 to 1970, income growth in the U.S. for the bottom 90% was over 200% inflation adjusted, and the dollar was still on a gold standard, barely. Since 1971 when the dollar's last link to gold was severed, income growth for the wealthiest 1% has skyrocketed about 220%, while the bottom 90% has gone nowhere. The 1990's saw a brief blip up in income growth for the bottom 90%, but that has since evaporated.

Paper money always benefits the politically connected and those who can afford to invest most of their income in stocks and real estate. That's where the newly printed money goes first, appreciating those assets and growing the wealth of the 1% way faster than the bottom 90%. Unlike Macau, there is no widespread phenomenon or culture of VIP gambling in the U.S.. So as the bottom 90% loses purchasing power, they gamble less and less. The answer to this is not to tax the 1%, give a nickel to the 90% and spend the rest bombing some third world country. The answer is to stop ruining the money of the 90% by keeping real interest rates at 0%, where they still are today and we're about to start another easing cycle.

From an investment perspective, the question is will regional gaming grow fast enough to give stocks like MGM one more burst higher? At this point chances look good. The U.S. market doesn't look as risky as it did earlier this summer since we are already at a new dollar supply high since June 10, one month earlier than last year and 2 months earlier than usual. If rates are indeed headed lower once again, we could see a very big year for monetary growth. As long as it doesn't show up in the CPI too obviously and Trump doesn't start a major war that brings oil to $200 a barrel, U.S. stocks should start climbing once again, meaning it's alright to nibble on MGM here at these levels.

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Tobias Fagerlund appointed new CEO and President of Global Gaming

Posted: 02 Jul 2019 04:17 AM PDT

2nd July 2019 (Malmo, Sweden) – Global Gaming's Board of Directors has appointed Tobias Fagerlund as the new President and CEO of Global Gaming with immediate effect from today, July 2nd, 2019. Tobias has been the company's Acting CEO since April 29, 2019.

tobias-fagerlund-appointed-new-ceo-and-president-of-global-gamingPeter Eidensjö, Chairman of Global Gaming, said: "It is with pleasure and complete confidence that we confirm Tobias Fagerlund as President and CEO of Global Gaming. His long experience of both the industry and change management, coupled with his deep understanding of our current situation and the fact he possesses the personal qualities required by the situation, clearly make him the right person to shoulder the great responsibility and challenge entailed by being the CEO of Global Gaming in the future."

Only two weeks ago, the Swedish Gambling Authority unexpectedly revoked the licences held by one of the company's Maltese subsidiaries for the provision of online gambling services in the Swedish market. The decision was appealed and is currently in the appeal process.

Of his new role and the company’s situation, Tobias Fagerlund commented: "It is with confidence and humility that I have agreed to take on this role. I would have naturally preferred to be appointed under different circumstances, but I have no reservations in accepting it. I have a great deal of faith in Global Gaming and stand by what I have said in recent weeks: the regulator's decision to revoke our licences is incorrect and disproportionate. We are confident that we are compliant with the requirements of the Swedish legislation, and I have faith in the judicial process and look forward to its outcome.

"The current situation is damaging to us, our customers, our employees and approximately 6,000 shareholders for every day that goes by. We will do everything in our power to restore as much confidence as possible in us, in order to be able to offer our brands to our customers in Sweden again soon."

Tobias will remain a member of the company’s Board of Directors.

About Global Gaming

Global Gaming is a challenger in the iGaming industry, delivering innovative and safe gaming services and operating a number of successful casino brands. Its flagship, Ninja Casino, builds on revolutionary technology allowing players to enjoy a safe and seamless online casino experience without the hassle of a lengthy registration process. Global Gaming was named Sweden's fastest growing technology company (Deloitte Sweden Technology Fast 50) in November 2018. The company's Certified Adviser is Redeye AB.

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Georgia iGaming Affiliate Conference: Key aspects of Georgia’s first gambling and affiliate marketing event

Posted: 02 Jul 2019 04:07 AM PDT

If you want to grow gambling business in Georgia or just plan to enter this market, we will tell you how to implement this idea!

Georgia iGaming Affiliate Conference will take place on October 18 in Tbilisi at The Biltmore Hotel Tbilisi. The event will be dedicated to special features of the iGaming market and affiliate marketing possibilities. The conference will bring together top industry experts from georgia-igaming-affiliate-conference-key-aspects-of-georgias-first-gambling-and-affiliate-marketing-eventGeorgia and other countries. Speakers' presentations will consist of their personal experience and case studies: the ways to increase gambling business profit and the specific nature of Georgian market promotion.

Experts will examine the following issues:

• subtle details and challenges of gambling business;
• how to establish gambling business in Georgia;
• how to run business legally, avoid penalties, and enhance revenues;
• core skills and tools for arbitrage experts, online marketers, or traffic managers;
• how advertisers should select an appropriate affiliate network;
• how entrepreneurs can boost income using analytics and marketing;
• what tools should be used to attract online and offline casino users.

The event will be beneficial to online casino operators, affiliate specialists, affiliate program representatives, lawyers, gambling developers, SEO experts, and marketers.

The official part of the conference will be followed by the afterparty with informal networking. The access will be given to owners of VIP tickets, speakers, and sponsors.

The conference will be held by Smile-Expo, an international company that has been organizing business events dedicated to innovations for 13 years.

You can use the current early birds offer while registering to the event.

Thus, hurry up to buy tickets at the best price.

Event program and details >>>>

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Lawrence Levy takes over as CEO at Ainsworth

Posted: 02 Jul 2019 03:21 AM PDT

Lawrence Levy takes over as CEO at AinsworthFormer Novomatic executive Lawrence Levy officially became the new CEO of Ainsworth Game Technology (AGT) on July 1, taking over for Danny Gladstone, who had served in the position for quite some time.

Levy was named to the position back in early April. He had proven himself to be the ideal candidate, spending 37 years in the gambling industry, most recently as VP of global sales at Novomatic.

In his previous position, the new CEO had been instrumental in developing strategies that helped turn Novomatic into one of the most innovative companies on the planet for the development of gambling technology. When it was announced that Gladstone would be stepping down on June 30, it seemed that Levy would be the perfect fit to replace him.

The experience is not the only reason why Levy seems like the ideal fit. It was just 18 months ago when Novomatic completed the acquisition of 52% of the controlling shares at Ainsworth, as they looked to broaden the international reach of both companies. Naming Levy to fill the CEO position allows the two companies to further integrate, giving them an even greater chance for reaching their goals.

"We are pleased to welcome Lawrence to his new role as CEO," said Ainsworth Chairman Graeme Campbell. "Under his leadership, we look forward to Ainsworth strengthening its position as a major provider of innovative gaming technology to the global market."

Levy is going to have his work cut out for him right away. The Australian gambling market is becoming incredibly competitive, which recently led to a 47% drop in profit after tax for Ainsworth in the second half of 2018.

However, AGT has been undeterred. They recently launched the first online gambling casino using BroBet technology, reaching an agreement with Logrand to partner on the site.

Now they hope that their new CEO will change the fortunes at AGT. "I am confident that he will further assist the company to achieve its strategies to become a leading provider of innovative gaming technology to the global market," explained company chairman Graeme Campbell at the time that Levy was named the new CEO of the company.

There is plenty of incentive for him to improve his new company. He receives an annual salary of $700,000 but can reach as much as $1 million per year by reaching performance bonuses. While this added incentive is not necessary for a professional like Levy to turn AGT into an even bigger success story, it sure couldn't hurt.

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Unregulated gaming to continue in Wyoming

Posted: 02 Jul 2019 02:41 AM PDT

Wyoming reportedly has around 400 unregulated gaming machines, the majority of which can be found in places like truck stops, convenience stores, bars and similar locations. It may not seem like that many, but some estimate that the 400 machines produce around $4 unregulated-gaming-to-continue-in-wyomingmillion in receipts each year. If the government had a tax on them at just 15%, it would be able to collect about $600,000 a year for its operating revenue. But, Wyoming doesn't have a tax on them because the machines are unregulated. And it doesn't look like this is going to change anytime soon, leaving the state out of a potential revenue source.

A bill had been submitted to the state's legislature to try to lasso in the machines and put them under government control. However, the Wyoming Joint Committee on Travel, Recreation and Cultural Resources decided last Friday to withdraw its support of legislation that could have finally corralled the gaming devices.

That legislation was designed to establish a gaming commission in the state in order to improve oversight of all gambling. Just like previous attempts at introducing a gaming commission, this one is set to fail.

Now that the opportunity to create a gaming commission has been overruled for at least another year, many believe that there will be an increase in the illegal machines. Senator Ogden Driskill told the Casper Star-Tribune, My prediction is we're going to come back next year with nothing passed, and we're going to be dealing with something between 800 and 1,200 machines with the number of new bartenders. It's getting harder and harder to slow that down."

Wyoming is one of the smallest states in the U.S. and has around 572,000 residents. Losing any source of revenue directly impacts each resident and, in the case of the illegal gaming machines, it means approximately $7 annually for each one. The state also doesn't collect income taxes and it doesn't charge a sales tax on alcohol, so it should be willing to look for additional revenue streams anywhere it can. The regulated Wyoming Lottery and horseracing industries help, but there's more that could be done.

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Macau casino operators see hope after US/China trade war truce

Posted: 02 Jul 2019 02:39 AM PDT

Macau casino operators see hope after US/China trade war truceIt would appear that Presidents Donald Trump and Xi Jinping have been able, at least temporarily, to put aside their differences on international trade in favor of making a deal. The two world leaders met during the G20 Summit in Osaka, Japan this past weekend and hashed out negotiations to try and find a positive resolution to the ongoing US/China trade war, and Trump announced after their meeting that he would be holding off on any new tariffs while negotiations are active. The news proved important to boost a number of industries, including Macau gaming.

When the stock markets opened Monday, Wynn Resorts and Las Vegas Sands (LVS), both with significant operations in Macau, saw their stocks climb. The increases were also bolstered by what has been a strong June, with gross gaming revenue (GGR) in the city increasing 5.9% – the second month in a row that revenues have increased.

75% of Wynn's operating revenue came from Macau last year and the company saw a 6.18% spike this past Monday. It closed last Friday at $123.99 and, at 4 PM yesterday, was trading at $131.25.

LVS saw its stock jump 4.54% and, at 10 AM yesterday, it had reached $62.67. The highest it has been this year was $68.44, which it achieved on May 3. By June 3, it had plummeted to $52.94. By 4 PM yesterday, it was level at $61.98.

The uptick in June's GGR gave Macau gaming analysts a little extra confidence as well. Felicia Hendrix of Barclays said in a note on the city, "We expect all the operators on the upcoming 2Q19 earnings calls to reiterate what is already known: that the high end of the market remains challenging given a number of headwinds and the mass market is stable. In this environment, we view LVS as the most investible Macau related stock and WYNN and MGM as longer term beneficiaries of investments they are currently making for future growth (renovations at the Peninsula for WYNN and the ramp of their high end business for MGM at Cotai)."

Hendrix's sentiment is shared by Nomura analysts, Harry Curtis, Daniel Adam and Brian Dobson, who said on Monday that the announcement "should be viewed as strong positives for the Macau gaming stocks." They followed that up by explaining, "Assuming July increases sequentially in line with its trailing seven-year average … we estimate GGR for the month will settle around MOP26 billion to MOP27 billion [$3.21 to $3.34 billion]."

July and August are looking good for Macau, and September could be even better. JP Morgan Securities (Asia Pacific) analyst DS Kim asserts, that July and August could see a 2-3% increase in GGR and that this "implies GGR could print positive growth in the second half of 2019 … in turn suggesting upside risks to our fiscal year 2019 estimate GGR forecast of -1 percent (where we have -15 percent in VIP and +12 percent in mass)."

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Caesars continues reinvention, partners with Taito

Posted: 02 Jul 2019 01:47 AM PDT

It has been a rather tumultuous time at Caesars Entertainment of late, as the company has been making a number of deals, including selling caesars-continues-reinvention-partners-with-taitosome of their most well-known and recognized properties. However, they have also added new partners, and that was the case on Sunday when it was announced that they had reached a deal with Japanese arcade game giant Taito to host an esports event.

The new deal calls for a competition to occur at the Rio All-Suite Hotel & Casino in Las Vegas in August. The event will be called the Toushinsai, and has been held in Japan every year since 2015. In the last two years that the event has been hosted, over 6000 players from across the globe have participated. That number is expected to be dwarfed by how many are attracted to Las Vegas.

This year's competition will feature a tournament of three-on-three single elimination in Street Fighter V. The winning team will receive an all-expenses-paid trip to Tokyo.

"Caesars Entertainment is excited to host Toushinsai competitors from around the globe," stated John Linss, Caesars vice-president of strategic investment initiatives, "Our company has long fostered the rapidly growing eSports industry throughout our resorts, and we are happy to be collaborating with Taito to bring their e-Arcade sports qualifier to North America for the first time."

This new venture continues the reinvention of Caesars Entertainment. Just days ago it was announced that the casino giant had pulled out of a potential deal to purchase one of the casino licenses for the Gold Coast Casino in Australia. Yet, the globally recognized gaming giant still continues to find ways to keep their brand thriving.

The same is true for Taito, as they see this as a golden opportunity to expand an already successful tournament across the globe. "Caesars and The Wall have been great partners in providing a unique venue opportunity for our first qualifier in North America," said President and Representative Director of Taito, Tetsu Yamada. "Their experience in eSports and entertainment coupled with state-of-the-art facilities will mean that our participants and their guests will have a first-class experience. In addition, eSports is anticipated to become an important attraction for the future IRs in Japan and Caesars is an ideal partner for us given its track record of innovation in the IR industry."

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Playson expands global reach with Pragmatic Solutions partnership

Posted: 02 Jul 2019 01:40 AM PDT

Slot supplier strikes deal with platform provider

playson-expands-global-reach-with-pragmatic-solutions-partnershipMalta, 02 July 2019 – Casino software developer Playson has agreed a partnership with Pragmatic Solutions to distribute its games through the company's open iGaming platform.

Under the agreement, the slot supplier will deliver its portfolio of more than 60 games including popular titles such as Legend of Cleopatra, Wild Burning Wins and Book of Gold.

The deal gives Playson the opportunity to supply its content to key operators from across the market and is the latest in a string of important deals the slot provider has made this year.

Michael Tadross, Head of Commercial Department at Playson said: "We are delighted to have entered into this new partnership with Pragmatic Solutions, which paves the way for Playson to deliver our innovative portfolio as well as experience-enhancing features to operators using Pragmatic Solutions' highly successful platform. The technical project is progressing well and we're excited to go live with our first operator over the coming weeks."

Flavia Dumitru, Head of Operations at Pragmatic Solutions said: "We've been hugely impressed by Playson and its innovative games content and we're delighted with this new collaboration. We look forward to helping distribute its popular suite of games and building a successful partnership in the future."

About Playson

Playson is a leading content development firm emerging into the regulated European Marketplace. With a portfolio of 60+ HTML5 Omni-Channel games, offices in Malta and Ukraine and licenses from the UKGC and MGA, Playson is well positioned to meet the needs of the most discerning iGaming operators.

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Racing Queensland launches strike against Tabcorp

Posted: 02 Jul 2019 01:21 AM PDT

Tabcorp has turned defiant in the attempts to have the Australian gaming company pay more taxes. Racing Queensland already receives around US$118.7 million a year, but a recent decision altered an existing agreement and would force Tabcorp to shell out more money from racing-queensland-launches-strike-against-tabcorpits pockets. The two sides have been in deliberations to determine exactly what needs to legally be paid and, after unable to reach a solution, Tabcorp is holding its ground. This has forced Racing Queensland to seek other methods of forcing Tabcorp's hand, and is going after the company in court.

Racing Queensland lodged an official suit with the Supreme Court of Queensland last Friday. The suit wants the courts to force Tabcorp to compensate for damages and additional relief in connection with two agreements between the racing authority and UBet, a Tabcorp subsidiary in Queensland.

The amount of money Racing Queensland is seeking will most likely run in the millions of dollars, which is what it has asserted it is owed by Tabcorp. The dispute comes via a "point of consumption (POC) tax" that was introduced at the beginning of the year. The tax has been in dispute for how it is to be assessed, and Tabcorp isn't going to give up without a fight.

In a statement submitted to the Australian Stock Exchange, Tabcorp stated, "The company understands that the dispute relates to the calculation of fees following the introduction of point of consumption tax in Queensland," Tabcorp said in a statement lodged with the ASX. The company is currently reviewing the issues raised and the relevant legal claims made by Racing Queensland and will update the market in due course. Pending further analysis and review the company expects to defend its position vigorously."

The POC tax was designed to be a tax on operators in an effort to improve states' revenue. However, as with any new business tax implemented anywhere in the world, the sting will most likely be felt more by consumers than the companies. After the tax was first announced, Ladbrokes Australia CEO Jason South indicated that odds would become less generous in order to recuperate the losses incurred by the tax. He added, “In the end, this will end up being a tax on punters, not on operators.”

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