Issue N39, 2009
October 14, 2009
Sportingbet Increases Levy to UK Horseracing Industry
The UK gaming giant, Sportingbet, announced that it had made the decision to increase its revenue stream to the British horseracing industry and thereby increase the levy that it currently pays to the sport. Sportingbet, which is a popular online gaming and betting operator, said that it would voluntarily pay 10% of its gross profit earned from UK and European based customers to the British levy board, starting from 2010.
“Sportingbet.com has explicitly recognized the importance of British horseracing to its business model in undertaking to pay levy arising from bets taken on our sport,” said Douglas Erskine-Crum, the Chief Executive of the British Levy Board. “Paying levy enhances the quality of horseracing, which in turn benefits the betting industry. It is in the betting industry's interest to develop this virtuous circle. We are continuing to work with Government as it addresses the wider betting and gaming environment but, in the meantime, we welcome Sportingbet's initiative and call upon all betting operators based outside Britain to adopt the same constructive policy.”
Andrew McIver, the Chief Executive Officer of Sportingbet explained the importance for his group to make the move. “An important part of our UK revenue is derived from British horseracing,” he said. “We have recently set ourselves the goal of increasing this revenue stream and have stepped up our sponsorship activity in British racing. We do all we can to assist the industries our customers bet on and we're delighted to demonstrate our support of the British racing industry by committing to a voluntary payment of the levy.”
New Licensee for Cryptologic
Cryptologic, the leading online casino software provider, has signed up its 28th licensee, following an increased demand for the group’s quality games and offerings. The multi year agreement was signed with Rank Interactive, through its parent company Rank Group Plc. Under the terms of the agreement, Cryptologic will supply Rank Interactive with ten of its most successful video lot games.
“Demand for our games remains strong as illustrated by this agreement with Rank Interactive, a well respected UK brand,” said Justin Thouin, the Vice President of Cryptologic. “With each new licensee, we open up a new recurring revenue stream that will improve our profitability and long term growth prospects.”
The agreement was possible thanks to Cryptologic’s distribution deal with Orbis Technology. Some of Rank Interactive’s top online brands include Mecca Bingo, Blue Square and GCasino and the ten new slot games will become a welcome feature through these sites.
“At Rank Interactive we have been looking to build on our success and expand our increasingly popular games offering,” said the Gaming Director at Rank Interactive, Angus Nisbet, “By striking this deal with CryptoLogic our customers are gaining access to the very best and most innovative betting games on the market, enhancing our relationship and revenue prospects going forward.”
Mega Moolah Progressive Slot Jackpot Hits Again
One of the highest paying online slot games, Mega Moolah, has been hit again, this time by a stunned young Polish online casino fan. Radoslaw Maculewicz has become the newest millionaire in the club created by this progressive slot game that regularly grabs headlines with its huge wins.
Maculewicz won an astounding $1.2 million on the Mega Moolah game at Betway online casino, ensuring that he and his fiancé can have the wedding of their dreams with the massive win.
Speaking for Betway.com, the site’s marketing director said: “Radoslaw is absolutely ecstatic about the win. He’s 29 years old and can now get married, have the honeymoon of a lifetime, and live the kind of luxurious life he and his fiancé had previously only been able to dream about.
“Betway.com is delighted to create another online slot millionaire, and we wish Radoslaw and the future Mrs Maculewicz the very best for the future,” continued the director. “We look forward to the next win for a Betway player on the Microgaming-powered Mega Moolah Progressive Jackpot.”
The chief executive officer of Microgaming, Roger Raatgever said that the group was thrilled whenever the Mega Moolah progressive video slot jackpot puts another player on millionaires’ row and this time was no exception. “The Mega Moolah Progressive Jackpot has paid out over €260m since its inception in November 2006, and regularly creates instant millionaires – providing wins in one single cash payment,” he added.
And as for Maculewicz? The player was too stunned to make any statement, except to comment, “I’m so happy; I don’t know what to say!”
France Adopts New Gambling Legislation
Following months of debate, the French National Assembly finally voted in favor of reforming the country’s outdated gambling legislation. But while the government is satisfied that the new laws will bring about acceptable changes, gambling proponents have stated that the new regulations and tough tax regime would make it impossible for private gambling operators to work in the market. According to the Remote Gambling Association, the new system will be “wholly unattractive and in most cases completely unviable” for operators to enter the market.
The Secretary General of the European Gaming and Betting Association, Sigrid Ligné, said: “At the time when Europe is watching the development of France’s reform, the introduction of even more unjustified restrictions is threatening to corrupt the efficient workings of the market. If the Senate votes along these lines, the prospect of a French market that is both viable and compliant with EU law is a long-way off.”
Also adding his opinion was the Chief Executive Officer of the Remote Gambling Association, Clive Hawkswood who said: “In its current form, the planned French legislation will simply not be viable for the vast majority of private sector operators and France will miss out on the opportunity to share in the growth and associated benefits of having its own thriving, regulated online gambling industry.”
“It also runs the risk of further challenges at EU level because the levels of restrictions are such that they could be considered unacceptable barriers to market entry,” he added.