The merger of these two companies will create a near monopoly that will control 90 percent of Australia’s gambling revenue which is in excess of $5 billion. The combined market value of both companies is worth around $8.6 billion.
The decision was made with a unanimous consent by the board of director of both companies where they agreed to a script and cash deal giving Tabcorp control of the merged companies.
Shareholders of Tatts will receive 0.8 shares plus 42.5 cents for each of their share which will be at a 20 percent premium along with a $500 million share buyback once the merger is complete in 2017.
In the world of online gambling, they are two sides to every issue whenever they come up. Since the advent of online sports betting and casino gambling, they have been numerous gambling companies that have stolen players’ money and numerous players that have found ways to steal from gambling companies.
In the early 1990’s the majority of online sportsbooks were located offshore which made it difficult for a player to have any kind of arbitration in case of a dispute. In most cases, of a legitimate complaint from the player who encountered a bad sportsbook, he would lose his money and there was nothing he could do about it.
Thus rose the creation of online sportsbooks and casinos watch dogs. As time went by, the sportsbook watchdog industry took a dive as the advertising money started to flow and they became biased in settling disputes.
Owning an online gambling website in the Philippines may have just gotten tougher with Philippine President Rodrigo Duterte who took office back on June 30, 2016. One of the promised that he had made was that he was going to crackdown on online gambling and it looks like his promise is good.
This past July, PAGCOR (Philippine Amusement and Gaming Corporation) which regulates gambling in the Philippines has revoked 124 online gaming licenses and PAGCOR is also planning on not renewing 302 online gaming venues and 324 online bingo games that offer their service to Philippine gamblers.
PAGCOR which not only regulates the country’s gambling industry but also operates several gaming parlors around the country is in a position to lose billions of PHP Dollars due to the cancellation of these licenses.
The state of Alabama, one of the poorest state in the Union has been facing a deficit for years and its lawmakers have suggested many ideas to fight $700 million deficit.
Some of these ideas include creating a state lottery, having Vegas Style casinos and increasing taxes.
The idea of having Vegas Style Casinos is appealing as it would keep them from having to increase taxes. The main proposal is to make a deal with the Indians which could generate millions of dollars.
Republican Senator Jabo Waggoner said that "This compact would say you can offer the Las Vegas type casinos but in return you're going to pay to the state of Alabama x number of dollars,”
Supporters of legalizing sports betting in New Jersey are questioning whether judge, Michael Shipp, the judge who granted a temporary restraining order preventing New Jersey from legalizing sports gambling in the state may have a conflict of interest.
Judge Michael Shipp is the brother of former NFL running back Marcel Shipp, who played for the Cardinals from 2001 to 2007 and has expressed interest in coaching in the NFL.
This calls into question the partiality of his brother, according to State Sen. Raymond Lesniak who told the told the Asbury Park Press that Judge Shipp should dismiss himself from the sports gambling case because of “a strong appearance of a conflict of interest that could compromise Judge Shipp’s ability to make an objective decision.’’
Great news for our poker lovers – BetOnline Poker has just released some MAJOR improvements to their poker software and promos! The new and improved software was rolled out this week and we want to make sure you know the upgrades.
For those who love to play at online poker rooms this is news you will want to learn about as their new software has many new features that will never make you want to play anywhere else.