BHP in $5bn US gas deal

first_img KCS-content whatsapp BHP in $5bn US gas deal BHP BILLITON yesterday agreed to buy US shale gas assets from Chesapeake Energy Corporation for $4.75bn cash, in its first acquisition since a series of failed major deals. BHP said the deal, expected to close in the first half of the year, would give it the second largest position in one of the largest gas fields in the world and increase its oil and gas reserves by 45 per cent.The natural gas properties are located in the Fayetteville shale, a natural gas field in central Arkansas. BHP aims to triple daily production as the field is developed. BHP chief executive Marius Kloppers, who last week said the firm would only buy tier 1 assets, said the deal was “consistent with its strategy”. BHP’s move to acquire Chesapeake Energy’s assets comes just three months after the Anglo-Australian company dropped its hostile bid to acquire Canada’s Potash Corp. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULL Show Comments ▼ whatsapp Share Monday 21 February 2011 9:09 pmlast_img read more

US housebuilding at lowest since 1984

first_imgWednesday 16 March 2011 10:26 am Show Comments ▼ New housing units started in the US posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, new data has shown.The shock fall suggests the US’ beleaguered real estate sector has yet to recover from its deepest slump in 80 years.Groundbreaking on new construction dropped 22.5 per cent last month to an annual rate of 479,000 units, according to Commerce Department data – just above a record low set in April 2009 and way below the estimates of economists.Societe Generale economist Brian Jones said the reduction showed that “residential construction activity is going absolutely nowhere”. “The February pullback exceeded expectations and the weakness in single-family construction caught us all by surprise,” he said.“The detail of the report revealed widespread weakness, with all regions of the country posting reduced activity in February.”Multi-family unit starts fell by a startling 46 per cent to 104,000, and core single-family starts dropped by 12 per cent to 375,000.January’s figure was revised up to 618,000 units from 596,000. But that did not change the tenor of the report, which confirmed that the sector is failing to recover despite interest rates near record lows.Building permits, a hint of future construction demand, fell to a record low of 517,000 units from a revised 563,000, and were down by about 20 per cent from levels seen in February 2010.Housing was at the epicenter of the financial crisis of 2007-2009.One key impediment to the sector’s recovery is a vast backlog of unsold inventory, while a shaky job market has also made consumers reluctant to embark on any major new financial commitments. Making matters worse, a glut of foreclosures, stalled in recent months by revelations of improper loan documentation, is depressing the market. whatsapp Share US housebuilding at lowest since 1984 whatsapp Tags: NULL alison.lock Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wraplast_img read more

BCLC bolsters sportsbook with SG Digital

first_img Tags: Online Gambling OTB and Betting Shops Email Address Topics: Sports betting Tech & innovation Sports betting Regions: Canada British Columbia AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The SG Digital division of Scientific Games has agreed to provide Canada’s British Columbia Lottery Corporation (BCLC) with expanded sportsbook solutions. Under the multi-year deal, the BCLC will have access to the latest iteration of the OpenBet sportsbook portfolio, including improvements to live betting and new promotional capabilities. The BCLC has been using the OpenBet sportsbook for a number of years, with the new upgrades due to be fully operational before the end of the year. In addition to sportsbook services, Scientific Games has provided casino gaming and lottery systems to the BCLC for some time. Keith O’Loughlin, senior vide-president sportsbook and platforms at SG Digital, said: “We’re thrilled to continue our partnership with a longstanding and respected operator in the online space. “Our OpenBet products are a perfect fit for BCLC, and we look forward to our continued partnership.”Related article: SG Digital hands senior sportsbook role to Konstakis 21st June 2018 | By contenteditor Subscribe to the iGaming newsletter The SG Digital division of Scientific Games has agreed to provide Canada’s British Columbia Lottery Corporation (BCLC) with expanded sportsbook solutions BCLC bolsters sportsbook with SG Digitallast_img read more

Sportsbet.io to accept All Football’s SOC coin

first_img Email Address 21st June 2018 | By contenteditor Subscribe to the iGaming newsletter Bitcoin-led sportsbook Sportsbet.io has entered into a partnership with mobile application All Football Tags: Online Gambling Financecenter_img Sportsbet.io to accept All Football’s SOC coin Topics: Finance Sports betting Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Bitcoin-led sportsbook Sportsbet.io has entered into a partnership with mobile application All Football. Under the agreement, Sportsbet.io will now accept bets in the All Football ‘SOC coin’ dedicated cryptocurrency. Customers can use SOC coins that they won or bought in the All Football app to wager on Sportsbet.io. The All Football app provides news and statistics from the world of football to more than five millions users around the globe. “All Football has built the most dedicated football community in the world, and SOC coin has been embraced by these users, with millions of dollars in SOC trading on crypto exchanges every day,” All Football chief operating officer James Shawn said. “By partnering with Sportsbet.io, our users can now use SOC coins to wager on the World Cup and hundreds of other sporting events every day.” Tim Heath, chief executive of The Coingaming Group, which runs Sportsbet.io, added: “We make every move with the customer in mind and at the centre of our universe. “Accepting SOC coin means that All Football users around the world can now easily enjoy fun, fast and fair betting with Sportsbet.io.”Related article: Sportsbet.io claims cryptocurrency cash-out firstlast_img read more

Clarion Gaming champions diversity with new scholarship

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 10th August 2018 | By contenteditor Clarion Gaming, the European Casino Association (ECA) and the Association of Gaming Equipment Manufacturers (AGEM) have joined forces with the Executive Development Program (EDP) to deliver a new gender diversity scholarship.The first-of-its-kind initiative will enable one aspiring female gaming employee to attend the prestigious EDP gaming leadership course in Lake Tahoe, Nevada, from November 10-18.The EDP enables prospective gaming executives to explore new industry ideas and leadership strategies, as well as network with industry figures from around the world.The University of Nevada, Las Vegas (UNLV) International Gaming Institute (IGI) and the University of Nevada Reno College of Business and Extended Studies have been running the partnership program for the past 28 years.Kate Chambers (pictured), managing director of Clarion Gaming, the parent company of iGamingBusiness.com, said: “This is a really exciting development and one that is just so important for the industry.“Through our events, we have featured educational initiatives on diversity and inclusion that support, inspire and influence the development of women in the gaming and lottery industries – so I am proud of the fact that we can support the first ever Gender Diversity Scholarship with our friends at EDP, ECA and AGEM.”The EDP and the ECA have also announced another partnership that establishes the EDP as a “think tank and resource centre for the global gaming industry”.Major themes on this year’s EDP agenda include the land-based casino industry in Europe, women in leadership, safety and security, responsible gambling, and corporate social responsibility.Per Jaldung, chairman of the ECA and 2010 EDP graduate, said: “The ECA is delighted to cooperate with such prestigious and experienced partners and provide this outstanding professional education and scholarship opportunity to an up-and-coming female talent from the European casino industry.”Marcus Prater, executive director of the AGEM added: “We are very pleased to partner with the ECA so that its broad membership is further exposed to EDP and its many benefits and that one deserving individual can attend via AGEM’s scholarship support.”Women interested in the new scholarship must be employed by a direct or indirect member of the ECA, have ambitions to hold a leadership position in gaming, as well as a desire to further their professional education.The scholarship will cover the recipient’s travel, accommodation and program registration fee. Topics: Casino & games People Sports betting Strategy Initiative opens up more opportunities to women in gaming Tags: Online Gambling OTB and Betting Shopscenter_img Casino & games Clarion Gaming champions diversity with new scholarship Subscribe to the iGaming newsletter Email Addresslast_img read more

William Hill to appeal €300k Dutch fine

first_img Tags: Online Gambling William Hill to appeal €300k Dutch fine 14th December 2018 | By contenteditor Operator penalised for allowing users to translate its dot.com site into Dutch Subscribe to the iGaming newsletter William Hill will appeal against a €300,000 (£269,400/$338,700) fine issued by the Netherlands Gambling Authority (KSA) for targeting players in the country without an iGaming licence.The regulator penalised the bookmaker for offering online games of chance to Dutch consumers via its WilliamHill.com website and two mobile applications. Online gambling is currently prohibited in the Netherlands, with a bill to re-regulate the market currently stalled in the country’s legislature.Consumers had been able to play casino games such as blackjack, roulette and poker, as well as betting on sports.In its ruling, the KSA noted that customers had the option to translate the site into Dutch, as well as offering the iDEAL online payment solution for processing deposits and withdrawals. iDEAL is only available to those with a Netherlands bank account, and is by far the country’s most widely-used online payment solution.However, a William Hill spokesperson has told iGamingBusiness.com that the bookmaker will “definitely be appealing against the fine”, having been that the KSA was preparing to impose a penalty weeks in advance.Speaking on behalf of the KSA, René Jansen, chairman of the executive board at the regulator, said the fine represents its ongoing effort to protect consumers in the Netherlands from unregulated activities.“A player who gambles with an illegal provider does without any protection; there is no supervision so it is impossible to ensure these companies are conducting business fairly, and that is why the KSA acts against illegal providers,” Jansen said.“Protecting the consumer is an important objective of the KSA, in addition to preventing gambling addiction and combating illegality.”However, the William Hill spokesperson also told iGamingBusiness.com that a number of other gambling companies have been fined for similar reasons, some of which have either appealed or are in the process of appealing the punishments.MRG was recently fined €312,500 for failing to block Dutch consumers from gambling on its platforms, while Betsson Group subsidiary Corona Ltd was handed a fine of €300,000 for operating in the country without a licence. Corona has since appealed against the penalty.The fines form part of a wider effort by the KSA and the Dutch government to clamp down on illegal gambling activities. Plans set out in September included a proposal for companies that had been penalised for unlawfully targeting Dutch players to be initially ineligible from operating in the country once it legalises online gaming.However, plans for the so-called ‘bad actor’ clause have been met with criticism from across the industry. Betsson, which operates the OranjeCasino and Kroon Casino sites, warned that brands which have been penalised for targeting players without a licence would have to be eligible for licences if the regulator was to succeed in channeling players towards legal offerings. Jan Suyver and Henk Kesler, the outgoing chairman and vice-chairman of the KSA respectively, have also voiced their discontent at the government’s failure to push regulations through the Netherlands parliament. The duo led the regulator for six years, but little progress was made in legalising igaming during that period. Despite KSA board member Joop Pot claiming that September would be a crucial month for proposed iGaming legislation, no further progress has been made. The bill, which was passed by the lower house of the country’s legislature in 2016, has failed to progress through the Senate. It sets out a 29% tax on operator’s gross gaming revenue, and requires licensees to implement stringent consumer protection controls. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance Email Address Regions: Europe Western Europe Netherlands Topics: Legal & compliancelast_img read more

Mohegan Gaming wins Athens integrated resort tender

first_imgCasino & games Email Address Mohegan Gaming and Entertainment has won the tender process for a new integrated casino resort at the former site of Hellinikon International Airport in Athens.The decision was made unanimously by the Tender Committee of the Hellenic Gaming Commission (EEEP), who chose Mohegan’s INSPIRE Athens bid over Hard Rock International’s own proposal, which would have featured six giant buildings that will tower up to 200 metres tall.The Mohegan Integrated resort includes a luxury hotel, entertainment venues, a convention centre and shopping and dining sites, as well as a casino.Mohegan gaming’s resort was designed by Steelman Partners and will be constructed by Greek company GEK TERNA.“It is our hope that INSPIRE Athens would be the catalyst that sparks the entire development of the Hellinikon area into the coveted Athenian Riviera, forever redefining the modern identity of Greece,” Mario Kontomerkos, Mohegan Gaming and Entertainment’s chairman and chief executive said in an October statement when the integrated resort plan was unveiled.The site of the former international airport has been vacant since 2001, with the tender process for a resort on the site facing frequent delays. Regions: Europe Southern Europe Greece Mohegan Gaming and Entertainment has won the tender process for a new integrated casino resort at the former site of Hellinikon International Airport in Athens. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img 22nd January 2020 | By Daniel O’Boyle Topics: Casino & games Subscribe to the iGaming newsletter Mohegan Gaming wins Athens integrated resort tenderlast_img read more

Gambling.com Group Q1 profits increase despite revenue drop

first_img Gambling.com Group Q1 profits increase despite revenue drop 20th May 2020 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Finance Marketing & affiliates Casino & games Subscribe to the iGaming newslettercenter_img Financial income helped the Gambling.com Group’s profits increase year-on-year in Q1 2020 even as revenue declined 28.2% to €3.8m.Gambling.com group chief executive Charles Gillespie noted that while revenue was down year-on-year, it was up 9.6% quarter-on-quarter, with revenue increasing month-on-month for five consecutive months starting with November 2019.“The first quarter of last year occurred before the major UK regulatory headwinds and was the group’s best ever, making for a challenging comparable period,” he explained. “As a result, revenue decreased by 28.2% year on year. Despite these headline figures, the underlying business is actually in a great place with improved operational capabilities and efficiencies after the launch of our new technology platforms.”Earned revenue, from search engine optimisation (SEO) or direct navigation, came to €3.6m million, down 22%. Paid revenue came to EUR 0.16 million, a decrease of 75%. During the quarter, the group phased out its buying of pay-per-click (PPC) ads, explaining the large drop in paid revenue.“PPC will remain paused, at least for the short term, to enable a leaner and more focused organization with time split on fewer initiatives,” Gillespie said.Of the Group’s €3.8m in revenue, 73% – or €2.7m – came from locally regulated markets.The Group’s operating expenses, meanwhile, came to €3.3m, down 10.8%, while revenue-related costs fell 53.6% to €265,000. Personnel expenses, on the other hand, grew 21.9% to €2.0m.As a result, the group’s earnings before interest, tax, depreciation and amortisation (EBITDA) excluding on-recurring costs came to €737,000, down 58%.Non-recurring costs related to financing and investing came to €13,000, while further non-recurring charges related to restructuring came to €161,000.Including these costs, the group’s EBITDA totalled €563,000, down 68%.Depreciation and amortization costs declined 45.9% to €133,000, while other operating expenses came to €796,000. As a result, the Group’s operating profit for the quarter was €430,000, down 71.3% year-on-year.The business paid a further €430,000 in interest, down 8.2%, but made a €1.5m gain through movements in the fair value of its 2021 bond, after incurring a €27,000 write-down in Q1 2019.The Group made a further €250,000 in finance income, more than ten times 2019’s figure, but €71,000 of financial costs, up 26.8%. This resulted in pre-tax profit jumping 77.0% year-over-year to €1.7m.After paying €100,000 in tax and receiving a €20,000 deferred tax credit, Gambling.com Group made a profit of €1.6m in Q1 2020, up 80.2%.Gillespie added that the business’ online casino focus – with the vertical having remained accessible and increased in popularity in some markets – leave it capable of mitigating the effects of the novel coronavirus (Covid-19) pandemic.“The group has historically been primarily focused on online casino games,” Gillespie said. “Given that revenue from casino and other non-sports games continued to represent over 80% of total revenues in the quarter, I consider ourselves well positioned to weather the pandemic.” Financial income helped the Gambling.com Group’s profits increase year-on-year in Q1 2020 even as revenue declined 28% to €3.8m. Tags: Online Gambling Email Addresslast_img read more

RITA falls below expectations despite H1 revenue growth

first_img Topics: Finance Sports betting Horse racing Regions: Oceania New Zealand AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance 3rd July 2020 | By contenteditor New Zealand’s Racing Industry Transition Agency (RITA) has revealed that both revenue and net profit were below budget expectations in the first half of its fiscal year, while it made a higher-than-expected loss for the period.Total revenue for the six months to 31 January, 2020 amounted to NZ$187.1m (£98.0m/€106.7m/US$122.1m), an increase of 2.0% on the previous year, but 8.0% below the budgeted figure of NZ$188.3m.RITA said performance against budget was primarily driven by lower betting turnover from elite and VIP customers, as well as unfavourable results across horse racing and fixed-odds sports.Betting revenue came in at NZ$147.0m, below a NZ$148.2m target, while revenue from NZ racing shown overseas fell 7.4% to NZ$11.7m.However, gaming revenue was up by 1.8% year-on-year to NZ$15.0m, above the budgeted figure of NZ$14.9m, while other revenue came to NZ$13.5m. RITA said that the latter was boosted by an increase in merchant fee revenue and racing services income.Total betting and gaming turnover amounted to NZ$1.50bn, which was 6.4% up on last year, but 3.1% below RITA’s budget of NZ$1.57bn.Looking at spending, turnover-related expenses came in at NZ$39.4m, up 11.3% on the prior year, but 1.3% below budget for the period. Operating expenses were flat year-on-year at NZ$72.2m, slightly above budget for the first half.This left RITA with a net profit before distributions of NZ$75.5m, below a budget of NZ$76.3m, while distributions were also short of budget at NZ$88.3m.After also taking into account these distributions, as well as a NZ$3.2m provision for undistributed gaming supplies, RITA ended the first half with a net loss of NZ$15.9m, higher than the budgeted loss of NZ$12.4m.“Management accounts for the first six months to January 31 showed an improvement against the same period last year, but were marginally down against budget due to reduced turnover,” RITA’s executive chair Dean McKenzie said.“This was based on reductions in high value retail activity, an accounting error in the treatment of Bonus Bets and a delay in delay to implementation of new products.”McKenzie said while the business avoided disruption from the novel coronavirus (Covid-19) pandemic during the first half, the effect of the crisis meant it would not meet its forecast net profit target of NZ$165.8m for the year.Racing in New Zealand was suspended for a number of months while the country sought to slow the spread of Covid-19. Harness and greyhound racing returned in May, with thoroughbred racing set to resume this month.The upheaval caused by Covid-19 led to RITA cutting 230 jobs at the Totalisator Agency Board (TAB). RITA said the cuts, which apply to 30% of all TAB staff, should provide annual cost savings of more than NZD$11m.“The subsequent impact of Covid-19 during the current half of the year will be already apparent to most,” McKenzie said. “In particular, the announcement of the government’s NZ$72.5m support package for the racing industry outlined the serious underlying structural issues within the industry, and the TAB business.”The update comes as RITA nears its end, after the Racing Industry Bill was given royal assent on 30 June, allowing for the country’s government to prepare for its implementation. The bill, which was passed by parliament on 24 June, sees the transitional body dissolved and replaced by Racing NZ, while the TAB will become purely focused on betting, broadcasting and gaming. RITA falls below expectations despite H1 revenue growth Tags: Race Track and Racino Subscribe to the iGaming newsletter New Zealand’s Racing Industry Transition Agency (RITA) has revealed that both revenue and net profit were below budget expectations in the first half of its fiscal year, while it made a higher-than-expected loss for the period. Email Addresslast_img read more

IGT secures igaming extension with Norsk Tipping

first_imgIGT’s senior vice president for PlayDigital, Enrico Drago, added: “Adding IGT’s and its sub-suppliers’ growing stable of popular titles for Norsk Tipping furthers our goal of delivering unrivalled gaming experiences that engage players.” In addition, IGT has supplied Norsk Tipping with its digital bingo platform since 2014, which was re-awarded to IGT via a public tender in 2018.  IGT will continue to provide its proprietary PlayCasino content, PlayRGS digital gaming platform and the IGT Connect integration layer. 19th November 2020 | By Robert Fletcher The contract, awarded to IGT after a public tender process, will come into effect in February 2021 and run for three years, with an option for Norsk Tipping to extend by a further year. “IGT PlayDigital’s solutions enable Norsk Tipping to provide its players with highly engaging online content, including IGT’s top-performing PlayCasino games,” Norsk Tipping’s head of gaming operations Hans Erland Ringsvold said. Regions: Nordics Norway The agreement also covers the ongoing supply of licensed third-party content from sub-suppliers NetEnt and ELKAB Studios. Tags: IGT Norsk Tipping IGT secured an extension to this deal in 2017 via competitive tender, under which it had been providing Norsk Tipping with PlayCasino content, licensed content from third-party sub-suppliers, its PlayRGS platform and IGT Connect integration layer. Subscribe to the iGaming newslettercenter_img International Game Technology (IGT) been awarded a new contract by Norsk Tipping, to continue providing a range of its online gambling solutions to the Norwegian state lottery operator. The deal comes after IGT earlier this week also extended its partnership with the Nebraska Lottery in the US. Agreed through its IGT Global Solutions Corporation subsidiary, the seven-year contract will see IGT serve as the primary vendor for the lottery’s instant and draw-based games and related services. Norsk Tipping began working with IGT in 2012, when IGT was selected as the sole supplier for the launch of legal online gambling in Norway. “When we first entered into the online casino market in 2014, IGT was our sole digital supplier, and since then has been fundamental to our program’s success.” Online casino Email Address Topics: Online casino AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter IGT secures igaming extension with Norsk Tippinglast_img read more

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