Hong Kong Racing -- A briefing paper by the Hong Kong Affairs Bureau revealed that the Hong Kong government is considering a number of ways to reverse plunging race betting figures. One possibility is dropping the levy tax on betting turnover in favor of a tax on profits after payouts. The government is also considering introducing new betting methods, such as fixed-odds betting, and lengthening the racing season by five days. Horse wagering turnover fell 30 percent from 1996-97 to 2003-04. Meanwhile, the amount of cash and betting slips seized from illegal horse and soccer betting operations more than doubled from 2001 to 2004. The Hong Kong government expects turnover to drop by another 30 percent by 2007-08 if it takes no action to remedy the situation. Wong Hak-lim, an antigambling activist and representative of Gambling Watch, says the government is overstating the problem and claims the decline in legal horse racing is due to the popularity of soccer betting, which became legal in 2003.
Youbet Records -- California-based online race wagering and content provider Youbet.com experienced record high daily wagering numbers Saturday for the Kentucky Derby. The $4.2 million in wagers received that day was the highest single-day total in Youbet history and was 15 percent higher than the amount taken on the same race day last year. Of that $4.2 million, the company contributed $2.6 million to Churchill Downs pari-mutuel pools for the day, a 19 percent increase over the previous year. The company also processed a record $1.4 million in customer deposits on Saturday--28 percent more than last year--and provided services to over 9,200 concurrent users.
Endemol Games -- Victoria Real, a creative communications agency that is part of entertainment producer Endemol UK, and interactive media group YooMedia have released "The 24 Hour Drop," a new fixed-odds betting game developed specifically for the Avago numbers betting channel. The game was inspired by popular family game Bagatelle and offers complex betting opportunities. Victoria Real's Drop gaming products are designed to be easily convered to Internet, mobile, and interactive TV platforms. Earlier this week Victoria Real announced an agreement that will allow I-gaming technology provider FUN Technologies' SkillJam unit to build and support online skill games based on three of Endemol's popular reality television and quiz shows: "Fear Factor," "Big Brother" and "Last Man Standing."
Cell Use in Europe -- British market analysis company Analysys estimates that cell phone penetration in western Europe will reach 90 percent by the end of this year, 98 percent next year, and 100 percent by 2007. The company says market saturation is already at 100 percent in several western European countries, including Britain, Italy and Sweden. Analyst Alex Zadvorny says that France, Germany and other countries might be able to increase penetration by marketing prepaid offerings.
Pay with Ukash -- 7WIN7 Mobile Casino, a Java-based wireless casino launched last month by Kahnawake-based Jackpot Factory Group, has added new payment processing brand Ukash to its list of purchasing options. Ukash is operated pay Universal e-cash Limited, a joint venture between Smart Voucher and Proc Cyber Services Limited. Consumers can purchase Ukash vouchers from PayPoint outlets, retailers and convenience stores and use the vouchers to purchase goods and services over the Internet. Ukash is intended to appeal to consumers who either do not have credit or debit cards or who do not wish to use them online due to fraud and security concerns. It's available at more than 12,500 PayPoint locations across England in denominations from £15 to £100, and Universal e-Cash Limited is negotiating agreements with e-commerce merchants to make it an accepted form of payment. The company also intends to roll out Ukash across continental Europe.
Quoteworthy -- "You hear that? [Sound of motorcycle engine revving] That's my new ride. Can you believe I took him down with pocket threes? I'm 23. I won enough to finally buy it playing poker online. I'm Graham, I live in New York, I play poker at Bodog.
- A transcript from a new television commercial from Costa Rica based online betting company Bodog.com. The spot is part of a multimillion-dollar advertising campaign that will feature two different television ads on U.S. television in the coming months. The company says its commercials will air in major cities across the United States on a variety of networks, including ESPN, Fox Sports, Discovery, Travel, Bravo, E! , A&E, Comedy Central, MTV, VH1 and more. The campaign also includes a number of print and radio ads, including four-page print ads in men's magazines Complex, Razor and Fast Company.
Party Coming to AIM -- PartyGaming, operator of the world's largest online poker room, PartyPoker.com, today appointed Michael Jackson, the current chairman of Sage Group, as a non-executive chairman to the company and Brian Larcombe, former CEO of 3i Group, as a non-executive chairman to the company. Most analysts are certain the appointments indicate the company is ready to float in London, especially considering that the private company also revealed today that its revenue had quadrupled in 2004 to US$602 million. PartyGaming's CEO Richard Segal told Reuters, "The strategic review has been completed and we are considering the conclusions of that. Our decision will be made sooner rather than later. This is a company that has always been in a hurry."
Favorable Opinions -- According to the American Gaming Association's 2005 "State of the States" report on the American casino industry, 79 percent of civic leaders and elected officials in jurisdictions that permit casino gaming believe that casinos have had a positive impact on their communities, primarily because the officials credit casinos with expanding local economies by creating jobs and boosting neighboring businesses. The research, conducted by Peter C. Hart Research Associates, also showed that 82 percent of responding community leaders believe that casinos are good corporate citizens. An average of 58 percent of local officials reported having a favorable opinion of casino gambling before casinos entered their jurisdictions, but the number grew on average to 75 percent after the officials have had time to experience the positive impact on their communities.