PhilWeb Corporation, a prominent eGames service provider listed in the Philippines, has officially dismissed rumors that it is considering a backdoor listing for the online gaming platform PlayTime. This response comes after speculation led to significant market reactions affecting PhilWeb’s stock value. Clarification amidst stock fluctuations: In a recent disclosure to the Philippine Stock Exchange (PSE), PhilWeb addressed concerns arising from an article published...
In 2024, Europe’s gambling industry marked a significant growth milestone, with the total gross gaming revenue (GGR) escalating to €123.4 billion, a 5% increment compared to 2023. This substantial growth is primarily fueled by the robust performance of the online gambling sector, which saw its revenue climb to €47.9 billion, thus increasing its market share from 37% in the previous year to 39%. Online...
Of all the staples in land-based casino gaming, roulette was one of the table games many believed would have a different route to online success. Slot gaming, for instance, was able to integrate video slot mechanics and fuse them with online gambling platforms and their security to get a head-start. Many experts believe slot gaming was the match that lit...
The U.S. Supreme Court has refused to hear an appeal from casino mogul Steve Wynn, who sought to challenge the longstanding legal standard protecting journalists from libel lawsuits. In a brief order issued Monday, the court declined to reconsider the 1964 landmark ruling in New York Times v. Sullivan, a decision that set a high bar for defamation claims involving...
Macau Legend Development Ltd, the operator behind Macau’s Legend Palace and the Macau Fisherman’s Wharf precinct, has issued a profit warning, projecting a loss of up to HK$640 million (US$80 million) for the fiscal year ending 31 December 2024. This marks a stark increase from the HK$4.9 million (US$612,500) loss reported in the previous year. In a recent filing...
OpenBet, a leading entity in the betting and gaming sector, has officially completed its management buyout, marking a pivotal transition in its corporate journey. The sale, orchestrated by Endeavor Group Holdings, Inc., has transitioned ownership to OB Global Holdings LLC , with significant backing from Endeavor’s CEO, Ariel Emanuel, and active participation from OpenBet executives, including CEO Jordan Levin. Strategic enhancements and global expansion: In...
On March 20th, Bronx’s Community Board 10 cast a decisive vote against the proposed Bally’s hotel-casino complex, which would transform Ferry Point Park, New York. The vote, resulting in 29 against and 5 in favor, followed a tumultuous public meeting filled with uproar and concluded with the expulsion of attendees. The advisory vote sets the stage for the extensive review process: The contentious...
The Arizona Department of Gaming (ADG) has announced a significant boost in tribal gaming contributions for the third quarter of Fiscal Year 2025, totaling $30,845,042. This marks an approximate 7.9% increase from the same quarter in FY 2024, reflecting a robust growth in the sector’s revenue. Strategic allocation for statewide improvement: The Arizona Benefits Fund, the primary recipient of these contributions, allocates 88% of the received...
In a significant legislative move, the Victorian Parliament has passed the Gambling Legislation Amendment (Pre-commitment and Carded Play) Bill 2024. This bill, which recently advanced to the Legislative Council after a 53 to 25 vote in the Legislative Assembly, seeks to drastically alter the landscape of electronic gaming machines across Victoria. A step towards responsible gaming: Under the new legislation, a mandatory pre-commitment system will be integrated...
Amid ongoing challenges with the state’s gaming compact, Niagara County’s Republican legislators are actively campaigning to renew a crucial revenue-sharing agreement to support local institutions with casino-generated funds. State Sen. Minority Leader Rob Ortt and state Assemblyman Angelo Morinello emphasized the necessity of this during a press event at the Niagara Falls Memorial Medical Center. Urgent call for legislative renewal: The legislators are striving to revive the 99-H...