Gambling News in February 2015: Review

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With so much happening every day, it’s hard to keep track of global gambling news in any given month. In this article and the ones that have gone before, our goal is to help you catch up. In this particular article we will look at the global gambling news for the month of February, 2015.

Ladbrokes Profit Sinks

Ladbrokes are one of the biggest betting companies in the world, a mainstay on many European high streets and a brand that has expanded much further than that over the years. However, their best days are almost certainly behind them. Whilst they have done their best to embrace online casinos and online gambling on the whole, they have still ploughed a lot of money into offline betting shops and that has proved costly.

This month we learned just how damaging their tactics have been, because in the same month that we learned they would close a total of 60 shops, they reported a 44% drop in pre-tax profits from the previous year. This is a huge loss in such a short time and shows that Ladbrokes are in dire straits. Ladbrokes themselves admitted that the majority of this loss was down to the fact that many of their betting shops were running at a loss and dragging the entire business down.

No Takeover for WH

In the beginning of the year William Hill was in talks with 888, with the latter seeking to takeover the major gambling brand. Both of these companies are big names in the gambling world and the takeover may have been one that many punters could have benefited from, but in February those talks ended with both of these brands remaining as they were.

Revel in Sales Talks

Throughout the month of February 2015 Revel casino was in talks to be sold to Glenn Straub. This deal seemed on at the beginning of the month, off during the middle of the month and then back on again at the end of the month. The takeover was valued at close to $100 million, but they struggled to reach a deal at this price and then again at $95 million, which forced talks to stall. However, a deal was reached for a smaller price, reported to be around $82 million, and the deal was given the go-ahead towards the end of February.

No Poker in Two Major US States

Another promising talk that came to a negative climax in February was one that brought hope to Mississippi and Washington that online poker would be legalized. After Black Friday, when the poker world was shook and US players were banned from the major sites, it has been difficult to play legal online poker in the US. There was proposed legislation to change this, but it ended in February and online poker is still illegal in these two states.

Playtech on the Rise

This month it was announced that one of the world’s biggest gambling companies, Playtech, had reported an increase in revenue that amounted to 24%. Their total revenue was around $600 million, showing why they are one of the biggest and the best in the industry, whilst providing a good sign that they will continue to be so. 4% of this game from acquisitions, as they aim to acquire new businesses and new additions (with Aristocrat Lotteries being one of them), whilst 7% came from their mobile casino growth, which is proving to be one of the fastest growing areas in the online gambling industry.

Playtech were not the first in this industry and they have only been around since 1999, yet they have consistently outperformed many of their rivals over the years, and these figures suggest that that trend will continue in the years to come.

New Games at Borgata

The Borgata casino in Atlantic City became the first casino to license skill-based games in the city. These go beyond games of blackjack and poker, and there are suggestions that games such as basketball will be included. Players will play against each other in free-throw contests, and other such competitions may also be arranged. The potential for such games is endless and it is sure to attract gamblers and sports fans from all over, breathing new life into what has become a tired and struggling gambling city.

Pinnacle Purchase

This month it was announced that a large portion of the Pinnacle Sports company had been sold to an unnamed investor. This betting exchange is one of the most popular in the world right now, and although it has some catching up to do to if it is to be as big as BetFair, it is still very popular and very well regarded.

Pinnacle Sports is based in Curacao and one that pulled out of the US market in 2007, before pulling out of the UK market in 2014 when a change in the local laws made it difficult for them. They are, however, still available elsewhere.