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AC Ocean Walk sold ORC

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Atlantic City’s Ocean Resort Casino (ORC) has been sold to an as-yet unidentified buyer. Rumours swirled that ORC owner AC Ocean Walk LLC has acquired the property only 12 months ago and the property having just opened its doors six months ago. It is still unknown that to whom they sold and how much they paid.

Deifik, the owner of AC Ocean Walk LLC said he and his family, who will retain a small, non-controlling interest in the property, wanted to thank ORC’s employees for “their tireless work to bring our property to life and put it on track to become the best gaming property in New Jersey.” Deifik added that the new $70m cash injection “will put this property on an exciting path to growth.”

ORC reported its third straight month of declining gaming revenue in November, and its slots and table revenue ranked dead last among AC’s nine licensed brick-and-mortar operators. It was only the property’s thriving new sportsbook that allowed it to surpass Bally’s on November’s overall gaming revenue chart.

What Deifik has done represent the triumph of optimism over common sense. The $2.4b Revel declared bankruptcy before its first birthday in 2013, reopened briefly before filing for bankruptcy again in 2014, after which the property lay dormant for nearly four years.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: AC Ocean Walk sold ORC

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BtoBet Underlines East African Opportunities

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As BtoBet prepares to fly to Uganda to attend the Sports Betting East Africa event, the leading iGaming platform provider has launched its latest Industry Report focusing on the gambling scene of the African continent, with particular focus on East Africa and Kenya.

The report – “East Africa: Leading the Continent’s iGaming Revolution” – analyses the opportunities that the Eastern African market presents to operators alike, whilst underlining the approach needed to truly reap the benefits of this emerging market. Amongst other things the report indicates the significant growth in internet and smartphone penetration that the continent has experienced in recent years and the population’s propensity to access the internet via mobile instead of the more traditional personal computer. Having also a significant portion of the population falling under the “unbanked” category, the report also analyses the advent of the “mobile money” innovation that has disrupted and revolutionized the payment approach, particularly in regards to the region’s gambling industry.

Unique aspects that as BtoBet’s CEO Alessandro Fried speaks about in his dedicated editorial, require deep local knowledge of what constitutes the right approach for operators to expand or start their business on the African continent. The Industry Report also gives insight on the White Label Partnership Program that BtoBet has launched in the past months in Africa through its regional Certfied Partner STM Gaming, and the tailored content offered to African operators keeping in mind the intricate requirements of the local market.

DOWNLOAD the latest Industry Report to get a better understanding of the necessities that drive the local market and why BtoBet’s advanced technologies are considered as the standard in the African context. Operators keen on starting or expanding their market in Africa can also book a meeting with the team of experts that will be present at the SBEA event by contacting sales@btobet.com or by calling on +356 27135974, or visit Stand 1007 at SBEA.

 

About BtoBet:
BtoBet is a multinational company and is part of a group with 20 years of experience in software development in IT, telecommunication, e-commerce and banking, strongly committed to technology and widely investing in technology research and development. The experience gained at the forefront in these advanced environments, compared with the more recent gambling industry, allows BtoBet to be visionary with a deep understanding of the requirements of the market, catching changing trends and anticipating bookmakers’ and operators’ needs. BtoBet is a true partner in technology, offering a standalone platform and services for the iGaming and Sports Betting industry. It counts on a very talented, continuously trained development team and day to day management support to clients. BtoBet allows licensees to be unique in the market, by giving them the opportunity to completely personalise their offers for Sports betting and iGaming business, online mobile and retail. Visit our site on: www.btobet.com


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: BtoBet Underlines East African Opportunities

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Gambling-focused cryptocurrencies valued at more than $100m

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Cryptocurrencies dedicated exclusively to gambling have a combined market capitalization of more than $100m, according to research from CryptoGamblingNews.com.

While the cryptocurrency market has suffered a tough 12 months, investors are still backing gambling coins to the tune of nine figures.

The top 10 gambling-focused cryptocurrencies currently hold a combined value on trading exchanges of $86.7m. With dozens of other gambling coins also being traded, the total sector is worth over $100m.

The leading crypto gambling project by market capitalization of its cryptocurrency is currently FunFair Technologies, a B2B blockchain gaming platform launched by Jez San OBE. Its coins are currently valued at $29m, according to data from CoinMarketCap.com.

FunFair is followed by decentralized sportsbook platform Wagerr ($15.1m) and decentralized casino platform Edgeless ($12.5m).

The cryptocurrencies are actively traded on a number of exchanges, including the world’s largest exchange, Malta-based Binance. FunFair’s FUN token reported trading volumes in excess of $8m over the past week alone.

Despite the impressive figures, the values are significantly down on the January 2018 highs, when gambling cryptocurrencies held a combined value in excess of $1.5 billion.

A spokesperson for CryptoGamblingNews.com, the leading portal for news from the crypto gambling sector, said there are early signs of a recovery.

“The 2018 peak was fuelled by speculation, but what we are seeing now is the emergence of a handful of platforms that are finally live and accepting wagers in these cryptocurrencies. The prices have reacted accordingly as demand for the coins increases,” the spokesperson said.

“Gambling remains a key early use case for cryptocurrencies and blockchain technology. We are seeing these projects implementing some fantastic features that are simply not possible with fiat currencies, such as provably fair games, full decentralization and near-instantaneous withdrawals.”

Gambling-focused cryptocurrencies are distinct from the broader crypto gambling sector, where Bitcoin remains dominant.

By some estimates, around half of all Bitcoin transactions are gambling related, with billions of dollars’ worth of Bitcoin gambled each year.

However, while Bitcoin operates simply as an alternative payment method, projects such as FunFair, Wagerr and Edgeless have built entire platforms upon blockchain technology.

CryptoGamblingNews.com is the world’s leading portal for crypto gambling, visited by thousands of industry professionals, crypto traders and players every month.

 

About CryptoGamblingNews.com:

CryptoGamblingNews.com is the world’s leading portal for crypto gambling, visited by thousands of industry professionals, crypto traders and players every month.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gambling-focused cryptocurrencies valued at more than 0m

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Intralot and Intracom deny news of merger

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Greek gambling company Intralot and local IT holding firm Intracom have both denied news about their potential merger. In their separate statements, which curiously looked identical, both companies stressed that the news did not “correspond to reality.”

There had been rumours that a mega-merger of Intralot and Intracom was on the cards. The rumours emerged after Intralot suffered a drop of the nominal value of its bond and a downgrading of its credit rating at the start of the year.

The rumour gained ground because Intralot and Intracom have the same founder and majority shareholder – Greek business mogul Sokratis Kokkalis. Mr. Kokkalis stepped in as the new CEO of the gambling company early this month, replacing Antonios Kerastaris. The now former Chief Executive of the Greek gaming, betting, and lottery group departed after Intralot lost its bid to continue providing sports betting technology to Turkey’s state-owned operator Iddaa.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Intralot and Intracom deny news of merger

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