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EU regulations - Portugal disappoints but there is a silver lining

Date: Tue, Sep 8, 2009

The Bwin court case in Portugal has been resolved. The results are not great but not a disaster.Internet monopolies will not work. It never ceases to amaze me how far behind the curve politicians and judges actually are. The good news is that this judgement shows clearly why it is so important to regulate properly. This judgement may speed up an EU wide regulatory system.The farce

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Italian poker scene hots up - BWIN in the action

Date: Mon, Sep 7, 2009

So consolidation is kicking off now that Italian regulation has reached the point of no return. BWIN today announced a deal to take over Gioco Digitale. Gioco have a decent market size in Italy and this is potentially a good deal.The problem is that Pokerstars is expanding FAST. The others need to consolidate quick to stop Stars taking over the whole show. Microgame (LNG's provider) is still

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Playtech flying - as expected

Date: Thu, Sep 3, 2009

The large fall in Playtech (PTEC) shares was a surprise and overdone. If you read the last 10 posts on this blog there have been a series of poor results - 32Red, Parlay Entertainment, 888, even PartyGaming.Now we come to PTEC who are in rude health, growing and paying a dividend.To increase revenues in this market is impressive and the William Hill deal is still bedding in. A search for a new

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Is the UIGEA loss really a win?

Date: Wed, Sep 2, 2009

The decision on the UIGEA Challenge raises more questions than it answers. What appeared to be bad news may in fact be good news. A wise man might take a large upside position on gambling stocks before this filters through to the institutions.I expect clarification from the lawyers will come in due course and will be reported at netbetblog.Breaking: UIGEA Challenge Ruling In, States Have Burden

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US ban upheld - for now

Date: Wed, Sep 2, 2009

This will not help sentiment in the online gaming sector. The fight will continue. It is interesting to note that the large US land based casinos are now involved. This can only help.Internet Gambling Ban Upheld by Appeals Court in Philadelphia [Bloomberg] Sept. 2 (Bloomberg) -- A 2006 federal law that prohibits gambling over the Internet was upheld by a U.S. appeals court after a challenge

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32 Red or Dead?

Date: Wed, Sep 2, 2009

32Red (TTR) are down in early trading following the release of their interim results. 32Red are a odd little outfit. They just quietly get on with business (a little like GVC) and churn out some decent results. My fear is that they are simply too small in an increasingly crowded sector.The interims show an eleven percent fall in revenues. Not great but not a disaster.The share price has done

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Parlay fail to even talk the talk - revenues down 70%

Date: Tue, Sep 1, 2009

Some online gaming firms are doing better than others. Canadian listed Parlay Entertainment released some pretty dire results.Whenever revenues fall by 70% one has to worry. The "software provision" sector is very competitive. 888, PTEC, Cryptologic are others are all fighting it out. Games come and go so quickly now that it will always be a tough model to follow.Given the list of clients it

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Rumour Watch: Playtech financial director to get the chop?

Date: Mon, Aug 31, 2009

I always try to link to any "mainstream" press coverage of the gaming sector.The Times look at Playtech (PTECH). This editorial piece includes some top gossip. Will the finance director he sacked? Who will the new non-executives be?They could do worse than hiring "the Economist" from netbetblog. I am sure they would sort make a valuable contribution. So about the FD. Yes, he did make a

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EU regulatory update - the 888 view

Date: Sat, Aug 29, 2009

Whilst I have just written my view on 888s results it is also useful to replicate their view on the EU and worldwide regulatory system and how it might develop.Regulation and General Regulatory Developments The regulatory framework of online gaming in different countries around the world remains as dynamic and rapidly evolving as ever. While some jurisdictions have moved to curtail the

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Have 888 become 444 following results?

Date: Sat, Aug 29, 2009

As followers of this blog will be aware, I tend to report as I see it and feel it. I have been "down" on 888 for a while for a whole number of reasons that I have previously discussed on this blog.This weeks results show that, at least this time, I was correct. Views on these results appear to be mixed although the share price has fallen ever since (correctly in my view).Total revenues and

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Gaming VC in line - moving to the Isle of Man

Date: Thu, Aug 27, 2009

GVC announced an uninspiring but steady trading update. Volumes are down slightly matching the sector as a whole. The German high rollers are the ones to watch and GVC are clearly aware of this.More interestingly is that GVC are looking for a fast track relocation to the Isle of Man. Two reasons they quote are:(1) The Company will become subject to the City Code on Takeovers and Mergers;(2)

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Creedy wallows in Ladbrokes Italian jobby

Date: Wed, Aug 26, 2009

I discussed LNG's results in an earlier post. They were pretty good all things considered and they have Italian poker players to thank for that.Gambling compliance has an interesting article with Richard Creedy - the relatively new CEO of LNG. So far he has been impressive and seems to have brought a much needed element of professionalism to this previously slightly odd outfit.This also sums of

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Poker Tables

Date: Wed, Aug 26, 2009

My research is progressing. I am now a break even player on Fulltilt small stakes ring (cash) game poker ($50 no limit) although I still seem to get hammered when I move up to $100NL and $200NL. I currently multi-table between 2 and 4 tables which is not that many but it keeps me on my toes (especially when I am writing blog posts at the same time).The next step is to get tooled up for live

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Partygaming in WPT snatch from Playtech

Date: Tue, Aug 25, 2009

It is getting ugly out there. Whilst the sector is flying on US regulation and consolidation rumours Partygaming are flexing their muscles again.I have previously posted on how PRTY pipped 888 to the prize of foxybingo. Now they have just gone and snatched the World Poker Tour brand (WPT) from right under the noses of Playtech. The deal was effectively done.The WPT is a top poker brand and

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