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July 12, 2012

Casino Giant Genting Takes Stake In Australia’s Echo Entertainment

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Genting Singapore took stakes in Echo Entertainment, Australia’s only Sydney casino company recently. The scenario has turned into a bidding war now among two giants, billionaire James Packer and casino empire Genting Singapore.

The entire event is the consequence of a series of happenings over the weeks where the board and shareholders of Echo witnessed lot of turbulence and difference of opinion.

There has been lot of debate regarding the governance of the Echo and ousting of its chairman Mr. John Story. This was the result of a personal and public destabilising campaign conducted by Mr. Packer in an attempt to sack Mr. Story from the post of chairman. Mr. Story did not resign willingly and succumbed to the views of Echo directors, especially the executive members Larry Mullin and Matt Bekier, urging that he should go.

The position of acting chairman of Echo has now been taken by John O Neill, chief executive of the Australian Rugby Union. It has been discussed that Mr. Packer would be happy with this new change as there are good ties between Mr. Neill and the former federal minister for sports Mr. Mark Arbib who is also Mr. Packer’s new staff member. James Packer was trying to pass on the hot seat to Mr. Jeff Kennett, former Victorian premier. But with fierce resistance from the board of Echo, he has decided to back off from this decision. Perpetual, the second largest shareholder of Echo, has asserted that even if Mr. Story has resigned, they will not change their view regarding resistance to a Crown representative on the board of Echo.

Crown Ltd. is in fact owned by James Packer and the company had urged that Echo was performing below the mark under the leadership of Story. The entire scenario got a twist of events when the casino giant Genting Singapore stepped in. The Genting Group is led by Mr. Lim Kok Thay. This group owns Genting Highland Casino Complex in Malaysia. It also owns the Resorts World at Sentosa worth Singapore dollars of 6.6 billion. Besides this, it also has stakes in Resorts World in Manila as well as 48 boutique casinos in the UK.

Mr. Packer has plans to construct a six-star hotel and casino development in the Barangaroo Precinct in Sydney. He is attempting to tap into the money-spinning market of the tourism industry in the area and wants to attract Asian high rollers in Melbourne and Perth.

But with the emergence of Mr.Lim’s Genting Group, Packer can no longer succeed in taking control of Echo by stealth. Speculations are in the air that both Packer and Mr.Lim might seal a deal. There are also opinions that this may be the beginning of a bidding war, in which the Genting Group can pay as high a rate as $6 to $ 6.5 per share. In the financial and strategic sense, Genting will possibly takeover Echo. The prevailing interest is due to the cause that earlier Genting has tried to secure gaming licences in the Gold Coast and Sydney. As Echo has casinos in the provinces, whether it is taken over soon or a prolonged bidding war will continue remains to be seen.

July 10, 2012

Two Interactive Gaming Licenses Issued By Nevada

Filed under: Casino — Tags: , — OCE News @ 12:00 am

Gaming licenses were issued by the state of Nevada to the manufacturer of online gaming system in the US. The two companies Bally Technologies and International Game Technologies got these two licenses issued with the recommendation provided by Nevada Gaming Control Board.

With the issuing of the license, Bally Technologies has become the first officially legal online poker site that can operate interstate gaming. This company had completed the process of acquisition of Chiligaming in April 2012. Chiligaming is the software that launched the free-play site of the Golden Nugget in the recent times. The acquisition allowed Bally to offer the online poker software to casino operators and also use it to demonstrate in front of the Gaming Control Board on Thursday.

The cost of licensing fee for Bally has been charged for $125,000. But according to Control Board Chairman Mark Lipparelli, it may get reduced. Once the outcome of the Nevada Gaming Policy Committee is out, the final cost will be known. News is out that the CEO of MGM Resorts International Jim Murren had expressed his preference for reduction of online gaming fees.

The second company, International Gaming Technologies got its application approved later in the day. It, therefore, became the second company to receive license issued for online gaming.

Both the companies now need to approach the Nevada Gaming Commission on June 21. The process of final approval will be conducted during this session. Once the final approval process gets completed, both these companies will start to launch real money sites to let players participate in intrastate gaming in Nevada.

As a part of the launching process, ten existing licenses have been kept in possession by the company International Gaming Technologies. These licenses are in compliance with 360 jurisdictions for gaming. Besides this, age restriction controls have been implemented in current products which are being used in Europe by this company.

Both Bally technologies and International gaming technologies will be able to manufacture online gaming systems. They will also be able to run and maintain these systems but on the condition that they partner with a Nevada brick-and-mortar establishment. No company will be allowed to run an independent online poker site without the relationship with an existing establishment.

As stated earlier, the application for license will be presented to the Gaming Commission on June 21. Even if both the companies get the license, the technology of these companies need to be vetted.

The hearing was attended by reputable companies such as Caesars Interactive Gaming, South Point, Shuffle Master, and Cantor Gaming. These and several other parties have been potentially interested in licenses as well. Once the gaming license is issued, other companies will certainly start applying for the same and try to reap profits. Mark Lipparelli had estimated that the Nevada online poker would become fully operational by the 2012 holiday season. Considering the development of events and the consequent results, this estimation is bound to become true and make the holidays even more fun and exciting than ever.

Keep track of the developments of this hottest news story and get to play gaming the real way with real money to make good profit winning games and enjoy the holidays.

July 8, 2012

June’s Big Win At Spin Palace

Filed under: Casino — Tags: , — OCE News @ 12:00 am

June is a bright month for Spin Palace online casino. They got the first big winner this month with a jackpot of $138,177 on multiple slot games. The winner, on June 2, chose an exceptional combination of slots, like Hot Ink, which is a new launch and feature novelties, and Tally Ho, which is pretty old and has classic slot features.

Since the day Hot Ink was released at Spin Palace, this game with tattoo parlor theme has won many a players’ hearts. The slot provides 1024 ways to win and frequently rolls out massive payouts through their tattoo artists Angel and Luci. The slot also has free spins with double payouts, a special bonus game, and Re Spins. The Tattoo bonus feature lets players win a maximum of 122,500 coins.

Tally Ho involves British fox hunt. It has a tea party theme with symbols like Fox, Horse, and Bugle from the hunt and Sandwiches, Tarts, Crackers, and Cheese from the tea party. The Wild symbol is the Horse that provides doubled payouts. The Scatter symbol is the Bugle that provides scatter payouts. Players can re-trigger free spins. Although being an old slot game, these days it has caught the fancy of players because of the Golden Jubilee event of the Queen.

Junefest promotion at Platinum Play

Platinum Play online casino, which is Fortune Lounge Group’s flagship brand, is celebrating their new Junefest promotion that comes with 30 whole days of surprises. That’s where the attraction lies – each day has a surprise. This means that if players wish to reap fullest benefit of this promotion, they must visit the casino everyday!

The lobby of the casino features a Junefest calendar. It tells players about the surprises for the day. Players must follow the instructions in the calendar. They can get their gifts for the day before midnight. Some of the surprises include free tournament entries, free spins, loyalty reward points, and lots of Mystery Gifts. Players can talk to the support team at the online casino to clarify their doubts about games and wins.

All-women’s poker summer tour to begin at Vegas

High Heels Poker Tour, started on the East Coast, is an all-women poker tour that is nearing the end of its spring schedule. Its next stop will be Vegas where they will start their summer schedule. The tour has scheduled two events in this City of Sin.

The first event is their 2nd Annual Red Stiletto Team at 1500 hours on June 27 at MGM Grand Las Vegas. The entry is for $540 per team. The event is actually a ladies’ week.

The second event is their 5th Annual Sit N Go Extravaganza at Treasure Island Resort & Casino on June 28 at 1600 hours. The entry is for $130. This event will give players a chance to try their luck at the ladies event to be held on June 29 at Rio.

Players need not play whole day and everyday to get an entry to the ladies event. Simply participate in the Extravaganza and get your ticket to the event. For each sit N Go played, the event will award a winner with a 1k seat for each table of ten. It’s time for women poker players to show who’s the best.

July 6, 2012

Blockbuster Promo At 888

Filed under: Casino — Tags: , — OCE News @ 12:00 am

The 888 Online Casino Platform is all geared up to provide a blockbuster fun-filled summer to its patrons. There is plenty of excitement that lies in store for the players who wish to indulge in online casino gaming at 888 between the months of June and September. There is a formal announcement on the website of the casino that states that this summer there would be almost 30 premiers for new games, hot summer raffles, live summer parties at the casino, tablet and mobile apps as well as 30 new summer promotions for players! With so much on their plate, patrons could indeed find it extremely difficult to handle it all.

Currently, the ongoing promotional drive which is a part of the blockbuster summer offer at 888 is titled “Euro”. The promotion is aptly explained through an invitation statement that reads, “Score every time, no matter what happens in the games! The ball’s always in your court – you control what you deposit, what you get, and your odds in the final Champions Raffle.” For every deposit made by players within the 1st of July, there would be a choice of bonus votes or free spins for qualifying to the Champions Raffle.

To begin with, players need to decide if they wish to deposit an amount that’s less than $50 or more than $50. For those who wish to deposit an amount less than $50, there are choices. They can choose spins worth $10 on the roulette games, a bonus that amounts to $10, or even avail of 10 free spins at the Euro. Those choosing a deposit above $50, there would be a $20 bonus, spins worth $20 on the roulette games or 20 free spins on the Euro reels. Once the choices have been finalized, players would now have to click on the Score button for generating the promotion code for availing the options.

The players are free to choose as many offers as they desire till the maximum limit for the campaign bonus is reached. Each of these offers will allow the players to put in their votes in favor of the team they assume would lift the Euro 2012 Football Cup. They are required to vote for a separate team each time so that a maximum number of teams can be covered. The winner of the Euro Cup would be declared on the 1st of July. Subsequently, on the 3rd of July, all players who had voted for the successful team would challenge each other in the raffle. The topmost award is that of $2.012 sans wagering requirements. The prizes for the 2nd and 3rd position holders would be a couple of home entertainment systems comprising a 46” 3D LED television by Sony and a Blu-Ray DVD Home Cinema System.

Players can access the complete rules and conditions for the promotion on the website of the 888 online casinos. The offer stands valid for deposits made by the 1st of July and wagered by the 2nd. Players who have pledged initial deposits are the only ones eligible for participation. Bonuses would be paid within three days of fulfilling the wagering norms.

July 4, 2012

Governing Conditions for Spanish Gambling Licenses

Filed under: Casino — Tags: , — OCE News @ 12:00 am

The Spanish authorities have made up their minds to go tough on awarding licenses to online gambling platforms. But, they are choosing to do it by introducing last minute nasty surprises for gambling platform owners. Recently, the Spanish authorities suddenly asked the applicants to pay up back taxes for a period of four years if they wished to avail licenses! As a result, applicants had to cough up a huge sum of money without flinching if they wished to carry out their gaming operations in Spain. Whereas Bwin paid up almost €33 million, the amount designated for PokerStars was much higher. Earlier, applicants were inclined to believe that the back taxes would only be applicable from the June of 2011.

But, this was not all! There were more such unpleasant surprises in store for applicants on the 1st of June, which were just a few days before the licenses were slated to be issued. The Spanish Regulator went on to state that one of the primary prerequisites for obtaining a Spanish license would be that the operator would have to purge its player list bearing Spanish players and would have to begin afresh from a base of 0. This condition has been levied to ensure that all legally licensed online gambling operators are compelled to begin on an equal footing so that the advantages accrued during the course of the illegal gambling period aren’t carried forward.

Until now, the operators were operating in the Spanish domains with their .com addresses. Players having accounts on these sites would now have to be terminated before online gambling operators can restart their fresh sites with .es addresses. The players would be required to cash out the old addresses, open fresh accounts with the newly built sites, and make renewed deposits in order to play. In the process, players would also have to do away with their VIP tags as operators would not be allowed information transfer from the old sites to the fresh ones. Affiliates would also be affected because the existent links would have to be severed.

The Spanish regulatory authorities have specifically pointed out the operators would not be allowed to transition affiliates or players to the newly established portals they would be operating from. Tagging the accounts of the original affiliates would also not be allowed. These moves would be of huge benefit to the new operators who had not yet entered the online gambling market. Still, it could well prove to be irritating and inconvenient for Spanish players to register all over again. But, the opportunity can be utilized for reevaluating options and switching to fresh operators if necessary.

The Spanish gambling markets go live on the 5th of June. The operators with new licenses weren’t keen to go online on a weekend where technical support could be low and playing volume would he high because it might be difficult to attend to problems. Therefore, even though the licenses have been issued, there would be a delay of few days.

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