Small firms downbeat on jobs

first_img Show Comments ▼ Share Monday 18 April 2011 8:10 pm Small firms downbeat on jobs Employment at small firms took a knock in the first three months of the year, the Federation of Small Businesses (FSB) said yesterday. A negative balance of -6.5 per cent of companies reported a decreased headcount in the first-quarter, the FSB’s latest index showed. The figure was worse than expected, after a negative balance of just -2.5 per cent expecting any reductions in staff at the end of 2010. The confidence index remained in negative territory in every quarter last year. whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Tags: NULL KCS-content whatsapplast_img read more

Scientific Games extends with Ontario Lottery

first_img Email Address Lottery Regions: Canada Ontario Scientific Games extends with Ontario Lottery Scientific Games has renewed its instant games partnership with the Ontario Lottery and Gaming Corporation (OLG) in Canada. The extended agreement will run through to July 31, 2022. Scientific will continue to provide the OLG with various instant games content such as licensed titles ‘Scrabble’ and ‘Words With Friends’.Randy Weyersberg, vice-president, lottery marketing and planning for the OLG, said: “Scientific Games is a trusted lottery supplier for OLG and we look forward to innovative and exciting instant games that will engage our customers and generate revenue for the province.” John Schulz, senior vice-president, instant products for Scientific, added: “Scientific Games is delighted to continue our work supplying instant games to OLG.” “For many years, Scientific Games and its predecessor companies have been proud to offer highly secure, responsible games that generate revenue for OLG and the province of Ontario.”Related article: Scientific Games names Cottle as new CEO 24th May 2018 | By contenteditorcenter_img Topics: Lottery Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Scientific Games has renewed its instant games partnership with the Ontario Lottery and Gaming Corporation (OLG) in Canada Subscribe to the iGaming newsletterlast_img read more

FanDuel founders launch legal action

first_img Regions: UK & Ireland FanDuel founders launch legal action 15th August 2018 | By contenteditor Email Address Four of FanDuel’s founders have launched legal action in a Scottish civil court after claiming that the daily fantasy sports operator was undervalued when it was acquired by Paddy Power Betfair.Paddy Power Betfair acquired FanDuel in May in a deal that valued the firm at $465m (£367m/€411m). The bookmaker has since combined FanDuel with its Betfair US business to create a larger company that now focuses on sports betting, as well as FanDuel’s existing DFS offering.However, the complainants, led by former FanDuel chief executive Nigel Eccles (pictured), have claimed that the valuation did not take into account the potential impact of sports betting on the company.In the weeks leading up to the deal, the Supreme Court opted to overturn PASPA, thus allowing all states across the US to pass laws to regulate sports betting.The lawsuit argues that FanDuel’s stock valuation was not recalculated until the deal was closed, while Paddy Power Betfair’s jumped 28% in the two weeks after the Supreme Court ruling.The main issue lies within the terms of the deal, under which some of the early investors in FanDuel were guaranteed windfalls, while those who held non-preferred shares – including the complainants – were not.Alongside Eccles, who stepped down as CEO in November, the petitioners include Lesley Eccles, Tom Griffiths and Rob Jones.“Having elected to so utilise the ‘waterfall’ provisions, the board was then required to pick a price on which to base the conversion,” the lawsuit stated.“The board of FanDuel considered whether the US Supreme Court ruling and its impact upon the market value of FanDuel should cause the company to be revalued. It has chosen not to do so. The board of FanDuel elected to use the valuation obtained prior to the US Supreme Court ruling, without seeking any current and sound valuation of the company.”The petition added: “The board of directors, which is de facto controlled by institutional investors, who stand to benefit from the purported share transaction as a result of their large holdings of preferential shares, has acted unfairly and has caused prejudice to the petitioners.“The decision of the board (whose interests are aligned with preference shareholders), not to seek and act upon a new market valuation in the face of a material event, which is likely to have significantly increased the market valuation of FanDuel, is a breach of its fiduciary duties.”A FanDuel spokesperson told Recode that the petition is “simply not rooted in facts or reality”.The spokesperson added: “In preparation for this deal, an exhaustive process was undertaken with the anticipation of PASPA’s likely repeal. The deal was consummated consistent with the corporate governance rules and cap table established under the former founders’ leadership.“The facts are that this was a sound business transaction that achieved the highest valuation possible for shareholders and was the right strategic move for the company’s future.”News of the lawsuit comes after it was revealed that FanDuel was New Jersey’s No.1 sportsbook during the debut month of regulated sports betting in the state.FanDuel only went live with its bricks-and-mortar sportsbook at Meadowlands Racetrack on July 14, but was the most popular venue, with its $1.36m making up around a third of total $3.8m gaming revenue. Quartet seek $120m in compensation following Paddy Power Betfair takeovercenter_img Legal & compliance Subscribe to the iGaming newsletter Topics: Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Promotional Nightmares: part one

first_img Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Slot Machines Casino & games Promotional Nightmares: part one Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance Marketing & affiliates Sports betting Slots Horse racing Regions: Europe UK & Ireland Nordics Southern Europe Denmark Italy Spain 18th February 2019 | By contenteditor New restrictions on gambling advertising are being proposed or brought into force as more European regulators attempt to address growing public concerns regarding its prevalence. But will they have the desired impact on addiction figures? New restrictions on gambling advertising are being proposed or brought into force as more European regulators attempt to address growing public concerns regarding its prevalence. But will they have the desired impact on addiction figures?During 2018, more European regulators moved to build a breakwater in a bid to stem a perceived tide of gambling advertising.In the UK, operators attempted to seize the initiative and avoid regulatory action with a so-called ‘whistle-to-whistle’ ban on advertising around live sport broadcasts. In Italy the country’s coalition government is embroiled in a battle with operators over a raft of restrictions on advertising and sponsorship deals.The Spanish government is looking to impose the same restrictions on gambling advertising as it has on the promotion of tobacco products. Even Denmark, once hailed as the most transparent and effective regulatory regime, has launched a consultation that aims to significantly limit how and where its licensees can promote their products.All moves are predicated on the same argument from authorities: gambling advertising is too prevalent, has resulted in more people developing problems, and has led to minors being exposed to age-restricted products.Recent events suggest the industry has hardly covered itself in glory, particularly in the UK. The GB Gambling Commission has issued around £47m in fines and penalties to operators for a litany of social responsibility failings.Many of these have seen self-excluded and at-risk players allowed to gamble, as well as using stolen funds to play. As outgoing Remote Gambling Association CEO Clive Hawkswood says, a gambling company can do 99 things right but will be pilloried for the one it gets wrong.This does not explain why advertising in particular has come under the cosh, especially when problems appear to lie elsewhere within a gambling business. Some have suggested that it all stems from gambling being an emotive subject.After all, Hawkswood also points out that most politicians will be moved to act by emotive stories of lives destroyed by problem gambling or addiction.The natural reaction to some of the more hysterical accusations thrown at the industry by the tabloid press and activists is to provide an evidence-based rebuttal. Yet this approach hardly served the Association of British Bookmakers well in its battle against the Campaign for Fairer Gambling over FOBT stake limits.As Hawkswood says, cold, hard figures will never have the same power as seeing or hearing of what gambling addiction has done to an individual’s life.It only takes one person suffering from problems for lawmakers to act. Therefore when a study finds that gambling addiction rates have not increased in ten years, they do not see that the problem is being kept under control. They see evidence that more needs to be done to reduce the numbers.For example, as Danish Online Gaming Association chief executive Morten Ronde points out in this issue, advertising restrictions proposed in that market are largely a result of a perceived increase in the number of problem gamblers.While this does not denote actual gambling addicts – that requires a psychological evaluation – it does suggest a growing problem.This, however, is often not the case. Due to regulation and more frequent market studies, surveys are casting a wider net and getting a better idea of how individuals in each regulated market gamble, how much they gamble, and ultimately how much is too much.It could be argued that advertising is being targeted as it is the industry’s point of contact with the general public, presumably based on the rationale that the less visible an industry is, the less dangerous it can be.These two opinions – and any resulting action – could, however, combine to make the situation much worse. If gambling is effectively pushed into the shadows, similar to tobacco, players may be unwilling to share information about their habits.Legislating the igaming sector into a corner could also have a knock-on effect of channelling players towards unlicensed operators, at a time when increased acceptance and effective regulation appear to be offering greater insights into gambling behaviour than ever before.Ultimately, as UK Advertising Association chief executive Stephen Woodford points out, restrictions only serve to address consequences, rather than causes, of wider problems.“Blanket advertising bans have little impact on the wider societal issues that drive issues such as problem gambling, which are often caused by the interaction of many complex factors and require a multi-faceted solution targeted at local or even individual level,” he explains.Woodford points out that far from adding to the problem, gambling advertising could actually be part of the solution. “It is important also to note advertising’s role in driving positive behaviour change to address gamblingrelated problems,” he says. “The upcoming campaign about the risks of problem gambling, funded by industry and run by GambleAware, is a good example of this in action.”In part two of Promotional Nightmares, published tomorrow, iGamingBusiness.com will look at the unintended impact of advertising bans, potential alternatives to blanket prohibition and whether tackling advertising really gets to the root of the problem. 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Minister praises ‘ground-breaking’ safer gambling campaign

first_img Regions: UK & Ireland Email Address Topics: Marketing & affiliates Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Marketing & affiliates Subscribe to the iGaming newsletter Minister praises ‘ground-breaking’ safer gambling campaign Tags: Online Gambling 21st February 2019 | By contenteditor The UK Minister for Sport and Civil Society has backed a new safer gambling campaign that will launch this weekend to help remove the stigma around gambling addiction and give people more courage to say they need help. The UK Minister for Sport and Civil Society has backed a new safer gambling campaign that will launch this weekend to help remove the stigma around gambling addiction and give people more courage to say they need help. Problem gambling funding body GambleAware’s new Bet Regret initiative aims to raise awareness of impulsive betting in order to encourage moderation and reduce gambling-related harm across the UK. Developed as part of the Government’s Gambling Review, the campaign is being targeted a men between the ages of 16 and 34 that gamble regularly on sport, mainly online. GambleAware said the estimated audience for the project is some 2.4 million, which would make the campaign the largest of its kind. GambleAware has said it developed the new initiative after extensive research, consultations with academic experts and focus groups with frequent bettors. The first advert in the campaign will be broadcast during this weekend’s Premier League clash between Manchester United and Liverpool on Sky Sports. GambleAware said the match is traditionally the most watched Premier League game of the season. Mims Davies, Minister for Sport and Civil Society, has praised the work done by GambleAware, saying the new campaign could have a major impact on tackling problem gambling in the UK. “This ground-breaking joint campaign will make people think hard about their betting habits, assist to remove the stigma around gambling addiction and give people more courage to say they need help,” Davies said. “It is crucial that we both focus on prevention as well as cure and this campaign will help to educate people to recognise risky play. I am determined to deliver more collaborative work to help to change behaviours to reduce the threat of problem gambling.” Bet Regret is being funded through additional donations to GambleAware, in line with a joint commitment by the broadcasting, advertising and gambling industries to the UK Government. BT Sport, ITV, Channel 4, Google, and Clear Channel are among the other parties that have agreed to support the campaign, which will also run across digital and social channels.Speaking to iGamingBusiness.com, GambleAware CEO Marc Etches said the idea of the project is to encourage people to think about their betting habits. The launch of the campaign comes as the UK Gambling Commission also announced the launch of a consultation on gambling with credit cards, with several leading credit providers vowing to play their part in minimising problem gambling.“There are two million adults experiencing some level of harm including 340,000 problem gamblers, so we must make sure sufficient protections are in place to help those who are more vulnerable to developing a problem,” Etches said. GambleAware worked with the Safer Gambling Board during the development of the campaign. The Board comprises representatives from Public Health England, the Department for Digital, Culture, Media and Sport, the London South Bank University Centre for Addictive Behaviours Research and GambleAware itself. Sian Griffiths, chair of the Safer Gambling Campaign Board, GambleAware trustee and interim deputy chair of Public Health England, said: “The Bet Regret campaign is about raising awareness of behaviours that people might not always recognise as impulsive or risky, such as betting when drunk, bored or chasing losses. “We want people to identify with the campaign, realise they too have those kick-yourself moments when betting and reflect on their behaviours, thus preventing future ill-considered bets which are so often the pathway towards harm.” The new campaign comes after the Government in January announced plans to commit extra funds to problem gambling treatment in the UK as part of a long-term health plan. Some £2.3bn (€2.6bn/$3.0bn) a year will be invested in mental health services, including problem gambling and gambling addiction, by 2023/24. GambleAware was quick to praise the move, saying the long-term strategy would help it to improve the services it offers those affected by problem gambling.last_img read more

W2 latest to waive fees amid Covid-19 pandemic

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Tech & innovation W2 latest to waive fees amid Covid-19 pandemic Email Address Subscribe to the iGaming newsletter Regulatory compliance solutions provider W2 Global Data has become the latest supplier to offer its solutions free of charge to new customers in a bid to help gaming businesses mitigate the impact of novel coronavirus (Covid-19).center_img 23rd March 2020 | By contenteditor Regulatory compliance solutions provider W2 Global Data has become the latest supplier to offer its solutions free of charge to new customers in a bid to help gaming businesses mitigate the impact of novel coronavirus (Covid-19).The supplier aims to help organisations requiring services such as identity verification, address validation, and anti-money laundering data sets ensure business continuity without any initial financial outlay or need for significant technical resources.W2 said it would act as a fall-back should a partner’s main compliance solutions provider experience disruption or outages as a result of the pandemic, ensuring it could continue to meet all relevant regulatory standards wherever it operates.As such it is offering to waive integration fees and up front costs, as well as providing free round-the-clock support and no commitment to process transactions to those that sign up for its services.“While I am trying to avoid the use of the word ‘unprecedented’ as it is being thrown around a lot at the moment, it is true to say that we are in a world of unknown at present and not a single one of us will remain unaffected,” W2 chief executive Warren Russell said.“At W2 we have always taken pride in the way we aim to look after our customers, sometimes we get it wrong, of course we do. But we always try our best.“Despite our best efforts, and those of our peers at this time, it is regretful to say that some of us will not come through this, no matter how hard we try,” Russell said. “If you are a regulated business, you don’t want to be in a position whereby your chosen partner has been unable to continue to serve you – regulation and compliance doesn’t stop and its shame to think it but a small minority will try and take advantage of a perceived weakened infrastructure.”Suppliers including NSoft and esports data specialst Bayes Holding have already announced significant reductions in the cost of their services to help operators mitigate the impact of the pandemic on their businesses. Tags: Mobile Online Gambling Tech & innovationlast_img read more

Loto-Québec suspends further land-based activities

first_img Regions: Canada Quebec Land-based casino Canadian provincial lottery operator Loto-Québec has suspended gaming activities at more of its land-based venues, including the Casino du Lac-Leamy and the Casino Charlevoix, in response to rising levels of novel coronavirus (Covid-19) in the region. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The list of venues to remain temporarily closed now includes the Casino de Montréal, the Casino du Lac-Leamy, the Salon de jeux de Québec, the Salon de jeux de Trois-Rivières and the Hilton Lac-Leamy hotel. VLTs in the metropolitan community of Montreal and in the regions Chaudière-Appalaches, Capitale-Nationale, Mauricie, in the city of Gatineau and in the MRC des Collines-de-l’Outaouais have also suspended operations. On Sunday October 11, the Casino du Lac-Leamy closed, along with its restaurants, and was followed by the closures of video lottery machines (VLTs) in the city of Gatineau and in the municipalité régionale de comté (MRC) des Collines-de-l’Outaouais. From Friday, VLTs in the Montérégie, Center-du-Québec and Capitale-Nationale regions, including Charlevoix, will also have to close, and kinzo games will be suspended in the Capitale-Nationale region. Topics: Casino & games Land-based casino Retail lottery Email Address Tags: Casino Loto-Quebec Canada Read the full story on iGB North America. From Monday, the Hilton Lac-Leamy hotel also closed. Casino Charlevoix will close from midnight Friday October 16, having been open four days a week from Thursday to Sunday since July. Loto-Québec suspends further land-based activities Subscribe to the iGaming newsletter 14th October 2020 | By Conor Mulheirlast_img read more

Acroud signs LoI to acquire US tipster company

first_img iGaming affiliate business Acroud AB (formerly Net Gaming) has signed a letter of intent (LoI) to acquire an unnamed “fast-growing US tipster company” for an initial consideration of €2.2m (£1.98m/$2.57m). AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter  “This is a clear step in our strategy with focus on the US market and sports betting, and the second LoI Acroud has signed in sports betting in short time,” Acroud president and chief executive Robert Andersson said. “We continue to execute on our growth plan and with this, we position Acroud well in the fast growing and expanding Sports Betting market in US.” Adding services for affiliation and lead generation to the offering will bring additional opportunities for revenue generation, and create a stronger position in states which have yet to regulate online gaming, Acroud said. Read the full story on iGB North America. M&A The acquisition is subject to both parties entering into a definitive purchase agreement, and the size of the earn-out would be dependent on the target company’s earnings before interest and tax in 2021 and 2022. Subscribe to the iGaming newsletter Topics: Marketing & affiliates Sports betting Strategy Affiliates Online sports betting M&Acenter_img The acquisition would also be followed by a potential additional earn-out consideration set at a minimum of €2.2m, to be paid in cash and shares. The business is currently offering betting tips directly to consumers, an activity which is not subject to regulation and may therefore be offered across the US market. Acroud signs LoI to acquire US tipster company 4th November 2020 | By Conor Mulheir Tags: Acroud Net Gaming Regions: US Email Addresslast_img read more

Detroit casino revenue reaches $109m in April

first_img Subscribe to the iGaming newsletter However, the Michigan Gaming Control Board (MGCB) did reveal that revenue was 12.9% down from $125.1m in April of 2019 – prior to retail sports betting being legalized – as well as 3.1% lower than the $110.9m generated in March this year. Table and slots gaming accounted for $107.4m of total revenue for the month, while sports betting contributed $1.5m. The MGCB also noted $889,532 in revenue from fantasy sports. Regions: Michigan The three land-based casinos in Detroit, Michigan generated $109.0m in revenue in April, with $1.5m of this coming from sports betting. Year-on-year comparisons were not possible as the casinos were closed for all of April 2020 due to novel coronavirus (Covid-19) restrictions in the state. Land-based casino Email Address Read the full story on iGB North America. Tags: Revenue Detroit Topics: Casino & games Finance Land-based casino Detroit casino revenue reaches $109m in April 12th May 2021 | By Robert Fletcher AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Looking at operator performances, MGM retained top spot in Detroit with 40% of the total revenue share, ahead of MotorCity on 37% and Greektown with a 23% share.last_img read more

First lessons in slots: Lessons #13 and #14

first_imgLesson #14: Social is fun Slots are a serious business. Slots were almost always serious in how the symbols were drawn. There was little humor in it. Small sidenotes: Tastes also change regionally. I had the opportunity of testing top games in various casinos. For some casinos the top games were all warm colours while for others the top games were all cold colours. They realised that to play not for real money, players would expect the game to be a lot more fun.  One of their main changes was to make the art fun and humorous and funny. The characters were exaggerated. The non-characters were exaggerated.  This was the major breakthrough of Playtika: when it launched Slotomania.  Email Address Graphic artists will tell you that there is a big difference between warm colours and cold colours.  And, of course, there is. They will automatically assume that because it is true that warm versus cold colours help us make decisions in almost everything, then that affects slots as well.  And they were right.  This is the test I did: I looked at the top games at the time and saw that warm colours and cold colours had no influence on a game being a top game. This is one of the few things that real-money slots companies find very hard to understand when trying to create their own social slots. That was a shocking revelation, and yet, it was true.  Social slots were nothing before Playtika created Slotomania. You could basically say that even though there were a few attempts at creating slots on Facebook not for real money, until Slotomania skyrocketed, there were no social slots.  Lesson #13: Warm colours vs cold colours Topics: Casino & games Online casino Product & technology Slots The top team of Playtika came from real money slots with 888. But when they created Slotomania they did some things you never do in real money.  Guy Hasson continues to share the secrets to succeeding in slots, this week dealing with the importance of colour, and how a sense of fun helped revolutionise social titles. One assumes that’s correct as well.  But I tested that pretty early in my career.  First lessons in slots: Lessons #13 and #14 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Players’ expectations when playing social slots was to have fun more than to make money (since they couldn’t make money in social). Later, I would find out you can create more ‘fun’ in math as well.  Casino & games 27th May 2021 | By contenteditor To be a top game you need many, but not all, of this list: a great theme, a great math, great symbol choice, and sometimes great features. But you do not need warm colours nor do you need cold colors to be a top game. Guy Hasson worked for Playtech for three years before becoming Playtika’s content manager, responsible for the content of Slotomania and Caesars Casino. He is now a social slot consultant, specialising in game popularity. Tags: First lessons in slots Subscribe to the iGaming newsletter The lesson here: create slots in both warm and cold colours, and don’t be afraid to use either one. last_img read more