Here’s What Happened This Week in mGaming

Here’s What Happened This Week in mGaming1 Here’s What Happened This Week in mGamingHere are some of the top stories in mobile and online gaming that we’ve been monitoring in recent days.

In an effort to capture much of the lost revenue from Atlantic City, New Jersey launched online gambling in November 2013. Many struggling Atlantic City casinos had high hopes that the addition of online gambling would keep them from closing their doors, but the results are not living up to the lofty initial expectations.

Churchill Downs invested $2.5 million into NLR Entertainment, owned by Nicholas Ribis, with the expectation that he would purchase the Showboat casino in Atlantic City. It goes without saying that the $2.5 million investment would have secured Churchill Downs a spot in the online casino world.

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32Red Says Mobile Adoption Increasing Across Online Gambling Space

32Red Says Mobile Adoption Increasing 32Red Says Mobile Adoption Increasing Across Online Gambling SpaceOn Wednesday, online casino company 32Red announced their detection of a spike in mobile casino gaming.

With revenues soaring, the firm has retained its full-year expectations after gross gaming revenues rose in its first-half and the number of mobile users almost doubled.

The European company confirmed that its total gross gaming revenues rose 19% in the first half of this year.
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Online, Brick and Mortar Casinos Continue to Create Many New Jobs

Online Brick and Mortar Casinos Continue to Create Many New Jobs 300x200 Online, Brick and Mortar Casinos Continue to Create Many New JobsIn the last 12 months, mGamingWatch has reported on multiple occasions about the growing number of employment opportunities that have emerged not only in markets where online gambling is legal (Nevada, New Jersey, and Delaware) but also across the domestic and global gaming industries.

This week, the American Gaming Association interjected itself into this debate to further corroborate the positive economic impact of a healthy, vibrant gaming climate.

American Gaming Association President and CEO Geoff Freeman issued the following statement after the Senate vote on the Bring Jobs Home Act.
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Merger Between Two Gaming Powerhouses Makes Headlines

Merger Between Two Gaming Powerhouses Makes Headlines 300x214 Merger Between Two Gaming Powerhouses Makes HeadlinesIn a recent announcement, lottery giant GTECH has purchased slot machine manufacturer International Game Technology (IGT) for a whopping $6.4 billion dollars. The merger will result in a newly formed holding company within the United Kingdom. Italian based GTECH will assume $1.7 billion of debt, and pay an additional $4.7 billion in cash and stock for the acquisition.

The merged companies will continue to operate under the name of GTECH and will continue with their main quarter headquarters in the United Kingdom as well as operating headquarters in Las Vegas, Providence, R.I., and Rome.

IGT is already the gaming industry’s largest manufacturer, and this merger will significantly increase their power and presence within the gaming world. IGT is best known for their slot machines, game library, innovative operating capabilities, as well as their powerful manufacturing division. When this is combined with GTECH’s lottery technology, lottery services, and gaming operations—they are a force to be reckoned with.

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Is Online Gambling Really as Addictive as Suspected?

Is Online Gambling Really as Addictive as Suspected Is Online Gambling Really as Addictive as Suspected?One of the primary complaints among those who oppose online gambling is that it is drastically more addictive than live gambling at a physical casino, for example.

This assumption has prompted the Harvard Medical School’s Division on Addiction to partner with online gaming firm Bwin.Party Digital Entertainment to do an official study.

What was found is quite the contrary; online gambling is not more addictive. In fact, gamblers tend to play with greater frequency in live casinos and spend drastically more while there.

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Online Gambling: The Fastest Growing Industry in The European Union

Online Gambling The Fastest Growing Industry in The European Union Online Gambling: The Fastest Growing Industry in The European UnionNot only is online gambling the fastest growing industry in the European Union, but the U.K. represents a significant part of this new industry. For this reason, the Gambling Business Group (CalvinAyre reports) has been created to be “the voice” of the online gambling industry within the U.K.

The Gambling Business Group consists of 50 members who are key players within the gambling industry—this includes representatives from casinos, Bingo, Pub, FEC, and AGC.

Peter Hannibal is the Chief Executive Officer, and Nick Harding is the Chairman.

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Lawmakers Cracking Down on Bank Fraud Tied to Online, Mobile Gambling

The GOP Cracking Down On Bank Fraud 300x187 Lawmakers Cracking Down on Bank Fraud Tied to Online, Mobile GamblingThe Justice Department has launched a federal investigation, researching consumer bank fraud in regard to many banks and payment firms turning a blind eye to unauthorized transactions.

It goes without saying that consumers rely on banks and payment firms to put safeguards in place to identify illegally withdrawn funds. But in the case of payday lenders, online casinos, and gun dealers many banks are ignoring their safeguards for their own financial gain.

The investigation is titled “Operation Choke Point” and it comes in response to a high volume of complaints of bank fraud and funds begin withdrawn without permission, Pymnts.com reports.

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Online Casinos In New Jersey Continue to Disappoint on Revenue

Online Casinos In New Jersey Not Garnering The Success They Were Expected To Achieve 300x200 Online Casinos In New Jersey Continue to Disappoint on RevenueIn an effort to capture much of the lost revenue from Atlantic City, New Jersey launched online gambling in November 2013. Many struggling Atlantic City casinos had high hopes that the addition of online gambling would keep them from closing their doors, but the results are not living up to the lofty initial expectations.

While the number of online gaming account holders increased 8% from May to June 2014, and has more than tripled since December, overall revenues have not followed the same trends. In fact, revenues have been on the decline for three months in a row.

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Churchill Downs Still Vying for a Spot in the World of Online Gambling

Churchill Downs Still Vying For A Spot In The World Of Online Gambling 300x300 Churchill Downs Still Vying for a Spot in the World of Online GamblingChurchill Downs invested $2.5 million into NLR Entertainment, owned by Nicholas Ribis, with the expectation that he would purchase the Showboat casino in Atlantic City. It goes without saying that the $2.5 million investment would have secured Churchill Downs a spot in the online casino world.

Aside from the investment to NLR Entertainment, Churchill Downs spent an additional $10 million developing the systems they required to receive online casino bets. This included bringing on an additional 50 employees to develop the software and gambling system. However Ribis did not purchase the Showboat casino as expected— and the two parties are now in an ongoing lawsuit.

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Cost Cutting Efforts Ahead for Online Gambling’s Bwin

Cost Cutting Efforts Ahead for Online Gamblings Bwin 300x115 Cost Cutting Efforts Ahead for Online Gamblings BwinMicrosoft isn’t the only company finding itself compelled to move forward with cost cutting measures this week. One of online gambling’s biggest names is feeling the same pain.

Reuters is reporting that online gambling company Bwin.Party, is “under pressure” to cut costs.

“Bwin said last month it was looking at ways of boosting shareholder value but denied a report it was considering a break-up or sale of its business,” the report notes.
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