Our weekly industry reports highlight important news items from around the world.
Testing of gaming systems in Nevada must now be conducted by independent labs
The Technology Division of Nevada’s Gaming Control Board will soon cease performing pre-approval testing of gambling systems. After July 1, the necessary pre-approval tests must be conducted by independent laboratories. This includes “mobile gaming systems” and “interactive gaming systems.” Click here to see the Gaming Control Board’s Announcement to Licensees.
WMS hosts internet gambling in Belgium
WMS Gaming has entered a “joint operations” contract for “the first business-to-business (B2B) deployment of WMS’ robust online gaming solution.” The company will provide Groupe Partouche of France with “a WMS-hosted online casino site for residents of Belgium.” WMS expects to launch the Belgium-licensed internet casino this summer. Click here to see the press release from WMS Gaming.
Agency accuses New York Racing Association of skimming customers’ winnings
New York’s Racing and Wagering Board has issued a report alleging that the New York Racing Association (NYRA) has withheld more than $8.5 million due to winning bettors. The Racing Association’s President, Senior Vice President, and General Counsel subsequently have been fired.
Click here to read the Racing and Wagering Board’s Interim Report into the Incorrect Takeout Rates at the New York Racing Association.
See also coverage by The New York Times: State Report Says Racing Association Knowingly Withheld Millions (Apr. 29, 2012).
Caesar’s Entertainment financials
Caesar’s Entertainment reports $2.272 billion in net revenue for the first quarter of 2012, an increase of $92.9 million (4.3%) over the same period last year. The company’s financial report indicates that revenue from “Other” operations reached $64.7 million. “Other” includes “the results of Caesars Interactive Entertainment (“CIE”) and its wholly-owned subsidiary, Playtika Ltd., a social media and mobile gaming business, since May 2011 when CIE acquired a controlling interest.” Click here to see Caesar’s Q1 2012 financial results.
Playtech financials
Playtech reports $98.24 million in total revenue for the first quarter of 2012, which improves upon $91.06 million reported in Q4 2011 and $48.06 million in Q1 2011. The company continues to prepare for an upgraded listing of its shares. According to the company: “Preparations for the planned move to a Premium Listing on the Official List of the London Stock Exchange continue to progress. A prospectus will be published and application made for the move, as soon as possible.” Click here to see Playtech’s Q1 2012 performance indicators.
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See our free special report about S.B. 1463, California’s proposed internet gambling law: “The Foundations of Internet Gambling Law: California“
