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Ocean Resort Casino’s financial deal approved

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The Casino Control Commission of New Jersey has cleared the complex financial deal for Ocean Resort Casino. As per the deal, the casino will be able to continue operations in Atlantic City, despite losing US$23 million in its first seven months of operation.

The regulators showed concern regarding the facility despite approving the deal, Press of Atlantic City reported. “This property has clearly had (a) very challenging (past), and I’m very, very concerned about its future,” said Casino Control Commission Vice Chairwoman Alisa Cooper. “I sincerely hope that this arrangement before us today will be successful and enable this property to survive.”

The commission unanimously approved a trust agreement between Bruce Deifik, the facility’s principal owner, and Luxor Capital Group.

“The proposed divestiture trust represents a unique vehicle through which Luxor, a qualified financial source of Ocean Resort, but not yet a casino licensee or casino licensee applicant, can invest in Ocean Resort to support it maintaining its financial stability,” said Chairman James Plousis. “With approval of the divestiture trust agreement and qualification of the trustee, we will not only maintain public confidence and trust in the credibility and integrity of the regulatory apparatus, but will advance the economic stability of Ocean Resort’s casino operations.”


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: Ocean Resort Casino’s financial deal approved

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Criticism mount against casinos in Goa

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Casinos in Goa, India, continue to attract criticism. An organisation called Aam Aurat Admi Against Gambling (AAAAG), which means the organisation of common men and women against gambling, has asked the government to shut down all offshore gambling companies in the state.

“The Bharatiya Janata Party government had promised that the casinos would be removed from the Mandovi,” said Sabina Martins, the convenor of the organisation opposing gambling. “[late] Chief Minister Manohar Parrikar had categorically stated that within four years of his tenure, the casinos would be phased out. Instead of phasing them out, the term of the existing casinos has been extended by another six months.”

AAAAG main objection is against the new Big Daddy casino, which was added after the government’s assertion.

“Amendments and regulations are made to favour casinos,” co-convenor of AAAAG, Anand Madgaoncar said. “While the world over, regulations govern casinos on the percentage of money to be given back to players, in Goa the casinos are having a field day looting them as no such regulations are implemented. There are no accountability mechanisms to check whether those employed are free from exploitation and addiction.”


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: Criticism mount against casinos in Goa

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Red Tiger slots go live with PokerStars in Italy

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Slots from Red Tiger, the award-winning casino game and software developer based in Malta, have gone live on PokerStars in Italy.

A number of slot titles will be introduced in the coming weeks beginning with hits Mystery Reels and Arcade Bomb.

The launch follows a similar country-specific deal with PokerStars in Denmark, with Sweden and Spain on the way.

Gavin Hamilton, CEO of Red Tiger, said: “We’re very pleased to be working with PokerStars, which is one of the biggest and most-admired brands in gaming.

We’re also pleased to be entering Italy for the first time, continuing our ambition to be the top supplier in every regulated market.”


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: Red Tiger slots go live with PokerStars in Italy

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Tom Horn strengthens its position in Lithuania with Betsafe.lt

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Tom Horn Gaming, a Malta-based igaming software supplier, has announced its content is now available to players in Lithuania on Betsafe.lt, one of many brands owned by the leading Swedish online gaming company Betsson Group.

Betsafe.lt belongs among the most trusted online casinos, offering the best-in-class gaming content to players in Lithuania. The operator will gradually gain access to Tom Horn’s award-winning content, including its blockbusters such as Hot Blizzard, 243 Crystal Fruits, and Book of Spells.

Tom Horn Gaming was the first online casino supplier to enter the Lithuanian market. The partnership is in line with the supplier’s long-term strategy to further expand its footprint in the Baltic regulated markets, building on the popularity of its titles among players and trust and recognition it has earned among the operators and regulators in the region.

Ondrej LapidesCEO at Tom Horn Gaming said: ‘This is further evidence that our content is in high demand among players in Lithuania and we’re delighted to have joined forces with such an acclaimed brand like Betsafe.lt. I believe that with this latest partnership we will further grow our presence in the Baltics.’

Kaido UlejevManaging Director Baltics at Betsson Group added: ‘Tom Horn Gaming is a modern-thinking company that has built a reputation for developing beautifully designed games, that are packed full of intriguing features, complex math and mechanics that players love. The company has a well-established presence in Lithuania and we know that our casino offering, featuring Tom Horn games, is strongly positioned among players in the market.’


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: Tom Horn strengthens its position in Lithuania with Betsafe.lt

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