MERGE GAMING


it has been granted a licence by Malta's lotteries and Gaming Authority


MERGE GAMING Limited has announced that it has been granted a licence by Malta's lotteries and Gaming Authority.

The Merge Gaming Network is already certified by Canada's Kahnawake Gaming Commission but recently received a letter of intent from the Lotteries and Gaming Authority in Malta regarding its application for Class Three and Class Four Remote Gaming Licences.

"After much research and analysis, I am completely confident that the Malta Lotteries and Gaming Authority is the right licensing partner for us in the European region," said Anthony Taylor, Chief Executive Officer for Merge Gaming Network.

"With more sites on the Merge Gaming Network making Europe their primary focus, we believe the Malta licence will help drive growth for the Merge Gaming Network."
 
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BETFAIR REPORTS RECORD REVENUES


Betfair has released a trading update for the twelve months to the end of April




Betfair has released a trading update for the twelve months to the end of April showing an eight percent year-on-year increase in total revenues to £368.6 million.

The company revealed that its adjusted earnings before interest, tax, depreciation and amortisation rose 36.9 percent when compared with the previous twelve-month reporting period to reach £73.2 глйоп while its profits increased 54.4 percent year-on-year to hit £35.1 million.

"The past twelve months have seen significant changes at Betfair as the business continued to grow and made the transition to being a public company," said David Yu, Betfair s Chief Executive Officer.
Betfair announced that its 2011 fiscal year had seen the number of bets matched increase by 20 percent year-on-year to 916 million while sportsbetting revenues from football swelled 24 percent when compared with the previous twelve-month period. It declared that all of this sees islanding debt-free with £155 million in tie bank while it held £305.6 million in customer funds as of April 30. which was up from £284 million for the 2010 fiscal year.

"We are pleased with trading for tie first eight weeks of the 2012 fiscal year for non-risk sports, games and poker, which is in-line with our expectations," continued Yu.

"Revenues in the more volatile area of risk sports, however, are currently below expectations due to an adverse margin performance during May. As anticipated, core Betfair revenues in this period are lower than the prior year comparative period, which was significantly inflated by the World Cup and was the last quarter prior to the migration of our Poker product."
 
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FEDERAL DIVIDE OVER US REGULATION


As many of us will have assumed from his keynote address at the iGaming Super Show in Dublin in May, American Gaming Association (AGA) President and CEO, Frank Fahrenkopf, has confirmed that the AGA will not be supporting Representative John Barton's elaborately titled Internet Gambling Prohibition, Poker Consumer Protection and Strengthening UIGEA Act of 2011.


Fahrenkopf, who was delivering his keynote address at the Gaming Executive Summary in Madrid in July, said, "Ten days ago Joe Barton of Texas introduced a bill that was modelled on the draft that was worked on by Senator Reid and Senator Kyi in the lame duck session. We are not supporting it. We are not opposing it, but we are not supporting it." The AGA is expected to unveil its own 'poker-only' bill after the summer break.

Barton's bill, Introduced to the Energy and Commerce Committee of the House of Representatives, would see online operators required to apply to a newly created office in the Commerce Department for a licence to offer online poker to US-based players.

In addition, the Texas Representative's proposal would require these approved operators to hold a licence from at least one state or tribe while another provision would restrict who could apply for the first three years to gambling operators that have significant assets with major vendors set to be scrutinised accordingly.

"Poker is an all-American game and it's a game that requires strategy and skill," said Barton, the 14-term Representative for Texas' Sixth Congressional District.

"Millions of Americans play poker online. Although it's legal to play for money, it's illegal to process the transactions that allow players to collect their earnings. We want to have an iron-clad system to make sure that those who play for money are playing in an honest and fair system where they can reap the benefits of their winnings. To put it simply, this bill is about having the personal freedom to play a skill-based game you enjoy without fear of breaking the law."
 
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