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Real money gambling will not save Zynga, Jeff John Roberts GigaOm

Real money gambling will not save Zynga, Jeff John Roberts GigaOm | Poker & eGaming News | Scoop.it

Zynga is screwed and its share price shows it.  The game maker’s shtick of selling virtual hay for virtual horses is looking more like an internet fad rather than a viable business model. Meanwhile, Zynga’s recent games have been a flop and its longtime ally, Facebook, is looking for new partners.

 

According to Chris Griffin, CEO of gambling hub Betable, the winners and losers in the internet gambling market are being determined very quickly and Zynga will be hard-pressed to catch up. Griffin points to the mobile launch this week of Big Fish Casino — a game that lets people gamble on their iPhone in places like the U.K. The presence of these rivals mean there could be little left for Zynga.

 

“Big Fish has a six to nine month head start on Zynga … It’s a false notion that gambling will save them because the valuable players are already locked up and there is loyalty there,” says Griffin, who adds that the current population of Zynga users are unlikely to become overnight gambling fiends.

 

The bottom line is that gambling may be a huge potential revenue stream but that doesn’t mean any of it will go to Zynga.

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888 in talks with Facebook regarding real money online poker, Aaron Goldstein 911Gambling

888 in talks with Facebook regarding real money online poker, Aaron Goldstein 911Gambling | Poker & eGaming News | Scoop.it

888 Poker has begun talking with Facebook, the social media giant, to bring “real money” online poker to jurisdictions where such activity is permitted, a la Great Britain, according to a report on eGaming Review.

 

Facebook earlier in the month launched its first “real money” online gaming venture in the form of what looked like a kid’s bingo site. Bingo & Slots Friendzy, developed by Gamesys, is only available to those living within the United Kingdom at this time.

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Vasileios Volikakis's curator insight, May 7, 2013 4:02 AM

888 Poker is currently ranked as the 4th most trafficked Web cardroom in the world

Facebook earlier in the month launched its first “real money” online gaming venture in the form of what looked like a kid’s bingo site.  Bingo & Slots Friendzy, developed by Gamesys, is only available to those living within the United Kingdom at this time

Mathaios Tsoukaris's comment, May 7, 2013 4:06 AM
Go on Bill!
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The Growth of Online Gambling, PokerSites

The Growth of Online Gambling, PokerSites | Poker & eGaming News | Scoop.it

The Growth of Online Gambling Infographic - Examining the huge growth of online gambling and poker in the UK and United States of America.

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UK report calls for lower taxes, better player protection, Jocelyn Wood Pokerfuse

UK report calls for lower taxes, better player protection, Jocelyn Wood Pokerfuse | Poker & eGaming News | Scoop.it

The Culture, Media and Sport Committee, made up of Members of the UK Parliament, has released a frank and detailed report on the 2005 Gambling Act. It is critical of the high existing tax rates, the lack of clarity in future plans and the ineffectiveness of the existing regulator.

 

The report calls for further consultation regarding the ring-fencing of player funds, citing the Full Tilt failure as cause for serious regulatory concern. It welcomes a new system based on a point of consumption tax, mentioned in the 2012 budget, and urges for its swift adoption.

 

Other sources:

http://www.gaming-awards.com/NEWS/uk-casino-pub-operators-not-happy-with-report/

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Novomatic/Astra completes Danoptra acquisitions, iGamingBusiness

British gaming machine manufacturer Astra Games Limited, a subsidiary of Austrian Gaming Industries (AGI) and part of Novomatic Group, has completed the acquisition of certain assets of Danoptra Gaming Group.


Leeds-based Danoptra owns Bell-Fruit Games, Gamestec Leisure, Mazooma Interactive Games and RLMS Sales and has now sold these subsidiaries to Astra Games after receiving clearance earlier this month from the UK’s Office of Fair Trading.


Astra Games stated that this transaction will see it create the Astra UK Gaming Group subsidiary that, according to 2011 figures, could have total turnover approaching £80 million.


Bridgend-based Astra Games declared that its new subsidiary will employ a total workforce of 1,042

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Annual UK gambling report, iGaming Post

Annual UK gambling report, iGaming Post | Poker & eGaming News | Scoop.it

Nearly 73% of UK residents take part in some kind of gambling, although most of that number is on the National Lottery. The National Lottery sold more tickets than ever in 2011-12, up 12% in the year. Other gambling activities are also growing fast to, which include football betting, scratchcards,online poker and bingo, according to the latest British gambling prevalence survey (BGPS).

 

If nearly one in 100 (0.9 per cent) of people can be classified as problem gamblers then it could be argued that more resources should be going into this field. Class-A drug-takers (about 3% of the population) and alcoholics (somewhat more than 3%, depending on the definition) are researched and monitored far more closely and offered more accessible help.

 

http://www.gamblingcommission.gov.uk/PDF/Gambling%20Commission%20annual%20report%20and%20accounts%202011-12.pdf

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Betfair will lose big on UK online gambling tax, GamblingCompliance

Betfair will lose big on UK online gambling tax, GamblingCompliance | Poker & eGaming News | Scoop.it

Online betting exchange Betfair came out worst with an estimated 48 percent dent to earnings per share (EPS) in 2015 thanks to its heavy reliance on the UK, according to the Jefferies report.

 

Bricks-and-mortar bookmakers are likely to fare much better, the analysts said. Paddy Power, William Hill and Ladbrokes can expect a 19 percent, 13 percent and 12 percent hit to EPS respectively.

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Camelot interactive and subscription sales top £1bn, Tom Victor EGR Magazine

Camelot interactive and subscription sales top £1bn, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Camelot has seen the total amount raised through interactive and subscription sales top £1bn for the first time, the UK National Lottery Operator has revealed in its results for the year ended 31 March 2012.

 

The 26% increase contributed to overall sales exceeding £6.5bn, an all-time high and up 12.1% on the previous financial year.

 

Meanwhile total sales of instant play games - including online Instant Win Games - rose 20.1% year-on-year to £1.73bn.

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Gala Coral profits +11%, Yogonet

Gala Coral profits +11%,  Yogonet | Poker & eGaming News | Scoop.it

All of this left Gala Coral with a statutory gross profit for the three-month period of us$ 337.7 million, which was an 11% improvement year-on-year, while it stated that earnings before interest, tax, depreciation and amortisation from bingo grew by 21 % when compared with the same period in 2011 driven by ‘growth in spend per head and strong margins’.

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Paddy Power revenues +29%, online +41%, iGaming Business

Paddy Power revenues +29%, online +41%, iGaming Business | Poker & eGaming News | Scoop.it

Retail and online sportsbetting provider Paddy Power has released its interim financial results for the first six months of 2012 showing a 29 percent year-on-year constant currency rise in net revenues alongside double-digit growth from every division.

 

Paddy Power stated that its first-half profit before tax had increased 21 percent year-on-year to €68.7 million ‘despite some adverse sports results’ since its May trading update while it currently holds a ‘strong’ balance sheet with net cash of €186 million.

 

Other sources:

http://www.casinochoice.co.uk/2012/08/29/paddy-power-takes-long-view-as-online-profits-stall/

http://www.gamblingcompliance.com/node/49873

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William Hill to fight UK “point of consumption tax”, iGaming Post

William Hill to fight UK “point of consumption tax”, iGaming Post | Poker & eGaming News | Scoop.it

William Hill, Britain’s biggest bookmaker is preparing a legal challenge against the UK governments plans to tax online gambling in this country from the end of 2014. 15% duty on bookmakers that offer online betting in this country in an effort to raise about £200m a year.

 

Almost all UK bookmakers, including Ladbrokes, have shifted their online businesses to Gibraltar and the Isle of Man over the past decade, where tax is less restrictive.

 

Lawyers for the gambling industry warn the proposed tax is “illegal” under European law as it is an attempt to restrict the free movement of goods and services for tax purposes.

 

Other sources:

http://pokerfuse.com/news/law-and-regulation/william-hill-to-challenge-illegal-uk-online-gambling-tax-plans/

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William Hill show 11% profit increase - online revenues +30%, Gaming Intelligence

UK bookmaker William Hill plc has reported an 11 per cent increase in total net revenues to £627.8m for the first half of 2012, following strong growth from the company’s William Hill Online business, in particular its mobile channel which continues to outperform expectations.

 

H1 Net Revenues

British Pounds (£) H1 2011 H1 2012
Retail 398.8m 417.4m
Online 152.7m 198.4m
Telephone 12.5m 8.4m
Other 3.8m 3.6m
TOTAL 567.8m 627.8m

Net revenues from WHO increased by 30 per cent to £198.4m, reflecting the benefits from investment in marketing and the expansion of operational capabilities, particularly in catering for increasing mobile usage by customers.

 

H1 Results

British Pounds (£) H1 2011 H1 2012
Amounts Wagered 8,981.6m 9,350.5m
Revenues 567.8m 627.8m
Cost of Sales 80.4m 89.3m
Gross Profit 487.4m 538.5m
Profit Before Tax 126.9m 143.3m
Profit for the Period 102.7m 117.9m
Basic EPS 12.3p 14.1p

 

Other sources:

http://www.gamblingcompliance.com/node/49660

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UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance

UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance | Poker & eGaming News | Scoop.it

The UK government can expect to generate up to £242m in revenues from the introduction of its planned point of consumption (POC) tax, according to the results of a new report from GamblingData.


In detailing the UK online gambling market to be worth £1.71bn in net gaming revenue (NGR), GamblingData suggests that between 5.25-7.25 percent of the market would end up avoiding the tax at the proposed 15 percent rate.

 

Other sources:

http://www.gamblingcompliance.com/node/49599

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15% tax on online gambling gain support in the UK, Jocelyn Wood at Pokerfuse

15% tax on online gambling gain support in the UK, Jocelyn Wood at Pokerfuse | Poker & eGaming News | Scoop.it

The Bill’s supporters want to replace the existing tax system which imposes a 15% tax on companies licensed in the UK with a 15% tax on the income generated by UK players no matter where the gaming company is regulated.

 

Currently the UK permits operators regulated in other countries to offer poker and online gambling to UK citizens. A “whitelist” of regulated companies is maintained and companies on the list are allowed to service the UK market without being subject to the 15% tax.

 

Matthew Hancock argues that UK companies like Ladbrokes are gaming the system to avoid tax by setting up offshore regulated subsidiaries. He puts a figure of £300m on the lost income to the country as the result of this loophole.

 

In the current climate of financial crisis, a number of entirely legal tax efficiency arrangements have been branded “immoral” by the Prime Minister, Mr David Cameron. There is considerable political pressure to make companies and individuals pay their “fair share” of tax. By latching on to this argument Mr Hancock has tapped into a broad base of cross party support for his proposals.

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Mediocre TV ad gets attention by being banned by regulator, FabulousBingo

Fabulous Bingo latest TV ad was banned today after the UK advertising regulator the Advertising Standards Authority (ASA) ruled it irresponsibly linked gambling with enhanced attractiveness. Thanks for trying to protect me.

 

Other sources:

http://www.casinochoice.co.uk/2012/06/20/fabulous-bingo-tv-ad-banned-by-asa/

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