Monday 6 December 2010 7:35 pm Petrofac buys gas storage stake by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Share whatsapp Tags: NULL KCS-content Show Comments ▼ whatsapp Petrofac yesterday snapped up a 20 per cent stake in the Gateway storage scheme in the Irish Sea for £33m. The deal, which will see Petrofac become joint developer, brings the development of a huge £1bn undersea container to tackle the UK’s shortage of gas storage, one step closer. Storage capacity in the UK?stands at just five per cent of annual demand, compared to an average of 20 per cent in other countries, leading to concerns about shortages and energy security. Investors will make the final decision on whether to press ahead with the £1bn construction project early next year.
Thursday 3 February 2011 8:08 pm Tags: NULL KCS-content Show Comments ▼ A major investor in struggling retailer HMV Group has hired Credit Suisse to advise on the options for the firm, which could include a break-up of its HMV and Waterstone’s brands, according to Sky News. Alexander Mamut, a Russian billionaire with a 6.1 per cent stake in HMV, is in the first stages of assessing the future of the group. Credit Suisse and HMV both declined to comment yesterday. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramHero WarsThis game will keep you up all night!Hero WarsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search Ads Share whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof HMV investor mulls break-up
whatsapp PRIOR warnings over spiralling inflation are “being borne out by events,” according to Bank of England rate setter Andrew Sentance, who yesterday accused his Bank colleagues of seriously understating the threat of rising prices.Sentance’s fiercely hawkish words preceded a rise in sterling, also aided by a positive business survey for the UK’s thriving manufacturing sector.During the day sterling traded with gains of around 0.5 per cent versus the dollar at $1.617.In an outspoken attack, Sentance said: “I argued that delaying policy action in the second half of last year would mean bigger and sharper interest rate rises might eventually be needed to control inflation. I am afraid that this warning is being borne out by events.”“He is really stepping up the pressure for the Bank of England to act now by coming out with all his anti-inflation guns blazing,” commented Howard Archer of IHS Global Insight.Sentance’s comments came the day after a surprisingly and defiantly dovish launch of the Bank’s latest inflation report by Mervyn King, who had insisted that a rate rise “may be many quarters” away.But the Bank’s latest inflation report, published this week, “is too optimistic,” Sentance responded, yesterday. “The forecast published a year ago suggested that inflation would be around one per cent in the first half of this year, whereas it has already hit four per cent and is set to move higher,” he said.And a devalued pound is stoking the impact of global inflationary pressures on the UK, Sentance said. Nudging up rates might bring about a “modest appreciation of sterling,” protecting Britain from price pressures from abroad.“The value of the pound needs to be one of the key areas of focus for the MPC,” Sentance said. More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com whatsapp Thursday 17 February 2011 8:54 pm Tags: NULL Sentance hits out at Bank over inflation by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ Share KCS-content
Sunday 27 February 2011 11:12 pm THERE will be much to celebrate when ITV unveils fourth-year numbers on Wednesday. Advertising revenues recovered strongly, up some 16 per cent according to Numis, thanks to the World Cup and nascent economic recovery. Finance director Ian Griffiths has worked wonders on the firm’s balance sheet, with debt – which peaked at £730m in 2008 – now standing at around £324m; at this rate, the firm should be virtually debt-free by the end of 2011. More broadly, anecdotal evidence suggests the broadcaster is making structural progress: the commercial success of the X Factor has been matched by critical applause for shows like Julian Fellowes’ Downton Abbey and recent hit Marchlands (ITV simply wasn’t making TV this good a couple of years ago). However, Crozier will have little time for backslapping when he addresses shareholders. The recovery at ITV is very much a work in progress, and one which has barely begun. Take ITV Studios, the firm’s in-house production business, which saw revenues fall nine per cent in the first nine months of 2010, proving the firm is still failing to make content that others want to buy. Revenues from ITV1, the firm’s tired cash cow, still account for two thirds of revenues, leaving it vulnerable should the advertising market come under pressure. Even if the advertising pie continues to grow, as most expect it to, ITV1’s share of it will gradually shrink as the multi-channel revolution and explosion in on-demand viewing gather pace. ITV now benefits from a benevolent advertising market and much-improved financial position. On Wednesday, shareholders will want Crozier to start fleshing out his plan for that much needed “creative renewal”. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Show Comments ▼ whatsapp Share Crozier will have little time for backslapping Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org
Debenhams chief to retire as profit rises Show Comments ▼ Tags: NULL Share John Dunne whatsapp Debenhams said its chief executive of eight years would retire in September as it posted a 4.5 per cent rise in first-half profit and resumed its dividend.The firm said Rob Templeman would be succeeded by Michael Sharp, the current deputy chief executive.Templeman will remain as a consultant for up to one year after his retirement.Debenhams, which trades from about 170 stores in Britain, Ireland and Denmark and about 60 franchised outlets in 24 countries, said it made an underlying pretax profit of £129.2m in the six months to 26 February. That was slightly above analysts’ consensus forecast of £128m and up from £123.6m in the same period last year.Debenhams, ranked second after employee-owned department store John Lewis, said first-half sales rose 3.2 per cent, with sales at stores open over a year down 1.5 per cent excluding VAT sales tax, and gross margin up 30 basis points.The firm, which ended the period with net debt of £351.6m, returned to the dividend list for the first time in three years with a 1 pence payout.Although Debenhams, in common with a raft of other British retailers, expects trading in its second half to be difficult as disposable incomes come under pressure from inflation, government cuts and higher taxes, it said it was planning for no real change in consumer confidence.Prior to Thursday’s update, shares in Debenhams, which returned to the stock market at 195 pence in 2006 after two and a half years in private equity hands, had lost 17 per cent of their value over the last year. Thursday 14 April 2011 3:08 am More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com whatsapp
NSW issues fines over gaming machine rebirthing racket Casino & games The New South Wales (NSW) Independent Liquor and Gaming Authority has issued bans and fines to two gaming machine industry licence-holders for their roles in a gaming machine rebirthing racket in the Australian state. Tags: Slot Machines Email Address 20th January 2020 | By contenteditor Subscribe to the iGaming newsletter Regions: Oceania Australia AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Legal & compliance Slots The New South Wales (NSW) Independent Liquor and Gaming Authority has issued bans and fines to two gaming machine industry licence-holders for their roles in a gaming machine rebirthing racket in the Australian state.Gaming machine technician Riad Allam and gaming machine seller Justin Layden were ordered to pay combined fines and legal costs amounting to AUD$100,000 (£52,825/€61,908/US$68,620).Allam was also handed a three-year ban from the gaming industry and ordered to pay Aus$66,000 for his part in the operation, while Layden was issued with a one-year ban and ordered to pay fines and costs of $34,000.According to the Liquor and Gaming NSW, both men were involved with a illegal enterprise that was found to be selling, purchasing and consigning gaming machines without the required authorisations. The machines in question had been scheduled for destruction at a recycling facility, but were instead in the process of being rebirthed for sale to licensed venues.As part of its investigations, Liquor & Gaming NSW seized 43 retired gaming machines from a warehouse at Chipping Norton and a licensed venue on Sydney’s North Shore.Liquor & Gaming NSW’s director of compliance operations, Sean Goodchild, said: “Gaming machines in NSW are tightly regulated and strict rules apply to sellers, dealers and technicians. The unlawful conduct in this case undermines the integrity of the industry and increases the risk of gaming machines falling into the wrong hands.”According to NSW law, it is illegal to be in possession of a gaming machine in the state unless properly authorised, with maximum potential penalties of up to $11,000 or 12 months jail.Late last year, the NSW Office of Responsible Gambling set out details of a new funding opportunity for PhD scholarships, post-doctoral fellowships and study grants to build capability and capacity in gambling research.Using money from the Australian state’s Responsible Gambling Fund, the grants will be used to help improve the quality, diversity and impact of gambling research in communities across Australia.
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Super Sweets by Betsoft Get your sweet tooth on and get ready for some big wins in SUPER SWEETS, the delicious video slot from Betsoft Gaming. Enjoy a scrumptious 5×3 experience with delightful visuals, sticky wild re-spins and an action-packed free spins mode.Sink your teeth in a variety of candies and chocolates as you spin your way to the top. Scoop up a serving of SUPER STICKY WILDS that appear on the reels and trigger a single free re-spin, chain them up, collect golden tickets & power your way to the GOLDEN TICKET FREE SPINS.A SUPER SWEETS CANDY SURPRISE can appear at any time on reels 2, 3 and 4, which can give you either a re-spin or a ticket to the bonus rounds. Who knows what surprises await?Satisfy your sweet tooth and enjoy sweet, sweet wins on SUPER SWEETS!You can play a demo of this slot here! Email Address 28th January 2020 | By Aaron Noy Topics: Casino & games Slots Get your sweet tooth on and get ready for some big wins in SUPER SWEETS, the delicious video slot from Betsoft Gaming. Enjoy a scrumptious 5×3 experience with delightful visuals, sticky wild re-spins and an action-packed free spins mode. Casino & games
Tags: Binary Options and Forex Subscribe to the iGaming newsletter Market volatility to boost IG Group revenue in Q4 Spread betting and contracts for difference (CFD) provider IG Group says it has benefitted from “exceptionally high levels” of financial market volatility caused by novel coronavirus (Covid-19), which has resulted in significant revenue growth in Q4 to date.IG Group noted that revenue for the first 36 trading days of its fourth quarter, which ends 31 May, was estimated to be around £173m (€198m/$214m).This marks a 23.7% increase on revenue of £139.8m for the full third quarter, to 29 February, and more than half the £249.9m generated in the six months to 30 November 2019.“Revenue in any period is impacted by the level of financial market volatility and the extent to which clients identify opportunities to trade,” IG Group explained.“Financial market volatility has been sustained at exceptionally high levels since the last week of February 2020, and the group’s clients have responded to the opportunities such market conditions present, and client trading volumes have been exceptionally high.”For the 36-day period, over 22,500 new over-the-counter leveraged clients had begun trading with IG Group, compared to 36,000 for the first three quarters of its 2020 fiscal year.Operating expenses for the period, excluding variable remuneration such as commission, now expected to increase by around £40m to £300m for FY20. This represents a hike of around £10m on its original projections, and reflects the growth in its active client base and subsequent high level of activity in Q4, and includes an increased provision for bad and doubtful debts.With a proportion of employee remuneration depended on annual financial and non-financial targets being hit, the high levels of Q4 revenue will result in the sum paid to staff rising from £25m in FY19 to £42m.“During such a prolonged period of volatility, we’ve seen high volumes of clients choosing to trade markets with IG, reflecting our business resilience, our robust systems and our commitment to delivering the best possible trading experience,” IG Group chief executive June Felix commented.With market volatility resulting from Covid-19 delivering higher revenue for the business, IG Group has committed £5m from its FY20 pre-tax profit to its IG Brighter Future Fund. The fund helps provide educational opportunities for underprivileged children in communities where it operates around the world, many of whom had been disproportionately affected by the pandemic, it noted.Of this £5m, £2m will be used to strengthen its partnership with UK-based education charity Teach First, with the remaining £3m going to a range of global partners.IG is also supporting employee initiatives to help combat the virus, including a matched giving scheme in the UK launched in March to support the National Emergencies Trust Coronavirus Appeal. This has already raised £70,000.“We are encouraged with the resilience and performance of our employees in such challenging times for everyone,” Felix said. “The IG Brighter Future Fund builds on our culture of supporting the local communities in which we operate, helping disadvantaged young people gain access to improved educational opportunities.“We are thrilled to be able to build on our partnership with Teach First and forge ties with other new international partners to support the long-term education needs of children living through such an unsettling period.”IG Group is scheduled to provide a pre-close trading update on its FY20 performance on 4 June, though it said it was difficult to predict whether the early strong performance in Q4 would continue to the quarter’s end.“The recent sustained level of financial market volatility and revenue is unprecedented, and it is not possible to determine how long it will persist or how clients will continue to respond,” it explained. “It therefore remains difficult to predict accurately the level of revenue in the final quarter of this financial year.”However, it noted that its financial position remains strong, and the board expects to maintain a 43.2 pence per share annual dividend. Spread betting and contracts for difference (CFD) provider IG Group says it has benefitted from “exceptionally high levels” of financial market volatility caused by novel coronavirus (Covid-19), which has resulted in significant revenue growth in Q4 to date. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance 24th April 2020 | By contenteditor Topics: Finance Email Address
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter NV governor sets target date for casino reopenings Casino & games Nevada governor Steve Sisolak has set a target date of 4 June for the reopening of the state’s casinos. 26th May 2020 | By Daniel O’Boyle Subscribe to the iGaming newsletter Topics: Casino & games Nevada governor Steve Sisolak has set a target date of 4 June for the reopening of the state’s casinos.All casinos in the state were ordered to close on 17 March due to the novel coronavirus (Covid-19) pandemic, but with other states such as Louisiana and Mississippi reopening last week, Nevada has set out a roadmap of its own.Earlier this month, the Nevada Gaming Control Board provided guidelines for reopening. Casinos must limit the number of players in their facilities and at gaming tables in order to prevent transmission of the virus.Player limits will be set for table games at three players per blackjack table, six players per craps table, four players per roulette table, and four players per poker table.Read more on iGB North America. Regions: US Nevada Email Address
Tags: Slot Machines Bingo GB arcades to remain closed despite LBO reopening The UK government’s Department for Digital, Culture, Media & Sport (DCMS) has confirmed adult gaming centres (AGCs) will not be permitted to reopen alongside licensed betting shops on 15 June, despite the relaxing of social distancing measures across the country. Email Address Topics: Casino & games Legal & compliance Bingo Slots The UK government’s Department for Digital, Culture, Media & Sport (DCMS) has confirmed adult gaming centres (AGCs) will not be permitted to reopen alongside licensed betting shops on 15 June, despite the relaxing of social distancing measures across the country.From the start of next week, all non-essential retail shops across England will be permitted to reopen, as part of the next phase of the UK’s exit from the lockdown imposed as a result of novel coronavirus (Covid-19).Only stores classed as essential have been able to remain open since the UK entered lockdown on 23 March. Non-essential stores in Scotland, Wales and Northern Ireland will need to remain temporarily closed.Though it has already been announced that licensed betting shops will be able to resume activities from 15 June, DCMS confirmed to UK industry organisation the Gambling Business Group (GBG) that AGCs cannot reopen until at July at the earliest.“Yesterday evening, an unconfirmed rumour was doing the rounds saying that AGCs and high street bingo were not going to be allowed to open on Monday, but betting shops will,” GBG chief executive Peter Hannibal explained. “I have now had this confirmed by DCMS this morning that this is indeed the case.”GBG said the DCMS had been pushing for AGCs to be allowed to reopen from next week, but the government was concerned that these facilities would not be able to comply with social distancing guidelines.New Covid-19 laws state that in order for retail shops to reopen, the customer must be able to enter a premises, make their purchase and exit as soon as they can. In order for certain businesses to be exempt from this rule, the government said that new legislation would need be passed.As such, Hannibal said it is likely that ADCs and high street bingo venues should be able to reopen from 4 July, when the UK enters the next stage of its lockdown exit strategy and other facilities such as pubs and restaurants can start to reopen.“We did think this problem was caused by the confusion over the interpretation of the word ‘arcade’, but this is clearly not the case here,” Hannibal said. “The view is that arcade customers need dwell time to partake in the product, which is at odds with the guidelines.“The DCMS is adamant that there is no way to change Number 10’s position on this so we are now looking at 4 July as the earliest opening date for AGCs and high street bingo.”This week, a number of major operators announced that they would reopen their betting shops in England from Monday.GVC said it plans to resume activities across its network of 2,445 Ladbrokes and Coral shops in England, while Flutter Entertainment will reopen all Paddy Power shops in England and 150 locations in the Republic of Ireland.Earlier this month, the Betting and Gaming Council also said that its land-based casino operator members in England would be ready to reopen from 4 July, after over three months closed due to the pandemic. 12th June 2020 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Regions: UK & Ireland
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Gtech denied sovereign immunity protection in Texas Subscribe to the iGaming newsletter The Texas Supreme Court has ruled against Gtech, the gaming services and solutions provider now part of International Game Technology (IGT), in a case over legal immunity claims in the state. The Texas Supreme Court has ruled against Gtech, the gaming services and solutions provider now part of International Game Technology (IGT), in a case over legal immunity claims in the state.The case related to consolidated lawsuits brought by thousands of purchasers of the ‘Fun 5’ tic-tac-toe game, which Gtech printed and produced for the Texas Lottery Commission under an existing contract.Players alleged the ticket instructions were misleading and fraudulently caused them to believe they had purchased winning tickets. The game was introduced in September 2014 but shut down six weeks later due to the number of complaints.Plaintiffs had filed separate litigation against Gtech in Travis County and Dallas County alleging fraud and conspiracy, with the supplier filing responses in both of the jurisdictions.Read the full story on iGB North America. Email Address Topics: Lottery Regions: US Texas 16th June 2020 | By contenteditor Lottery
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The independent review will occur parallel with the royal commission and will also assess, among other things, requirements for regulation of money laundering and junket operations. Subscribe to the iGaming newsletter Barton resigned following a New South Wales inquiry that found Crown Resorts “unsuitable” to operate a casino in Sydney’s Barangaroo region due to evidence of money laundering and insufficient diligence into junkets with alleged criminal ties. Crown Melbourne’s suitability to hold a casino licence in Victoria is to be investigated by state authorities following the scandal following as inquiry into Crown Resorts’ licence in New South Wales. Horne said: “The reports from New South Wales’ ILGA Inquiry were incredibly concerning, which is why we’re establishing a royal commission to get the answers we need about Crown Melbourne. The Victorian government said it has taken advice about the most appropriate way to proceed following the findings of the New South Wales Independent Liquor and Gaming Authority (ILGA) inquiry into the group, which led to the resignation of Crown Resorts chief executive Ken Barton earlier this month. Tags: Australia Crown Resorts Victoria “The royal commission will establish the facts and the Government and the VCGLR will take any necessary action at the conclusion of the investigation. We will not tolerate illegal behaviour in our gaming industry.” Email Address Further resignations, which were announced alongside Crown’s first-half financial results which showed revenue down 62.1%, followed. The royal commission, to be chaired by Raymond Finkelstein QC, will have the power to compel witnesses and documentation. The commission will hand down its recommendations by 1 August 2021, with the Government to legislate to enable the Victorian Gaming and Liquor Regulation Commission (VCGLR) to give effect to any findings. This report was triggered when Asian gaming giant Melco agreed to purchase a 19.99% stake in CPH Crown Holdings in May 2019 for approximately AUD$1.76bn (£981.9m/€1.06bn/US$1.19bn). Following allegations in the press, the inquiry set out to determine whether Crown was a suitable licensee. Land-based casino Victoria to investigate Crown’s suitability for Melbourne casino licence Topics: Land-based casino 22nd February 2021 | By Richard Mulligan Regions: Australia Although Melco ultimately pulled out of the acquisition, the inquiry continued with its results released at the start of February. Image: Donaldytong under licence Creative Commons Attribution-Share Alike 3.0 Unported State Premier Daniel Andrews announced a royal commission that will consider whether Crown Melbourne should be allowed to hold a Victorian licence to operate its flagship casino and entertainment resort, and also consider the suitability of its associates, including owner Crown Resorts Ltd. The Government has also commenced work to establish an independent casino regulator, with Minister for Consumer Affairs, Gaming and Liquor Regulation Melissa Horne commissioning a review to advise on the necessary structural and governance arrangements. “This is about making sure that those who hold a casino licence in Victoria uphold the highest standards of probity and integrity – and that they’re accountable for their actions,” said Andrews. The inquiry said that Crown’s “unjustified belief in itself” and “corporate arrogance” led to a lack of thorough investigation of serious claims against its business and an assumption that the claims must have been deceitful.