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Skrill Nabs Two Gaming Awards, Acquires Paysafecard

It was a banner week this previous week for payment services provider Skrill Moneybookers Ltd., because they further solidified their position since the premier provider of online re payment services for the gaming industry.

First up, they acquired the ‘Payment Solutions Provider business of the season’ honor at the 2013 International Gaming Awards, held February 4th in London, England. The judging for the award considered such factors due to the fact speed and ease of use associated with the payment provider’s solution, since well as their innovation in the industry, and exactly how they’ve enhanced their service within the past year.

Skrill added to their hardware haul on February 8th at the iGB Internet Awards, picking up the prize for ‘Best Payment System’. Also occurring in London, the shortlist of nominees was decided by user votes, with the final nominees being judged by a panel of iGaming experts. Skrill was given the award on the merits of their reliability and high standards, their low processing fees, and their excellent customer service.

In a news release following their award wins, Skrill SVP of product Sales and Marketing, Craig Doyle commented: ‘As the payment industry becomes more and more competitive, we’re proud to be recognized because the payment solution that is best within the video gaming sector. As Skrill continues to innovate and grow throughout 2013, we are going to be searching to build on our achievements and consolidate our place as a provider that is leading of payment solutions.’

That quote proved to be immediately prophetic, as Skrill wasted time that is little growing and boosting their status as the leading payment provider, completing their purchase of Paysafecard the same day they picked up the second of their iGaming awards.

European countries’s frontrunner in prepaid online payments, Paysafecard is obtainable in 33 countries and more than 450,000 locations throughout European countries, united states, and South usa, and will be utilized to get products at more than 4,000 online stores without the necessity for a bank account or credit card. Paysafecard processed more than 55 million transactions in 2012.

The acquisition provides Skrill’s customers a powerful and way that is simple fund their accounts and pay for goods and services, and will show specially valuable for customers in underserved nations, where banking and deal processing options are restricted.

‘For both sides this is a acquisition that is strategically important we are pleased it’s now finalised. Paysafecard complements our current offering and strengthens our position in the gaming that is key digital media markets verticals, establishing us as a provider of end-of-end transfer of stored value,’ said Skrill CEO Siegfried Heimgaertner. ‘This is another significant step towards our long-term ambitions to become the initial choice for online payments, helping our end-customers and merchants to pay and acquire paid globally.’

Now we can only just wait and discover what Skrill can conjure up for an encore in the weeks and months in the future. This past week, it should be rather impressive if it’s anything like their performance.

Revel Casino’s Titanic Debt Trying to Avoid an Iceberg

Apparently, the truism that is common even a poorly run casino will be profitable is not real, at least not from taking a look at the money perspective of Atlantic City-based casino resort Revel’s financial denouement of late. The property’s overseer, Revel Entertainment Group LLC, recently brought in law practice Kirkland & Ellis LLP along with investment bank Moelis & Co. to share with them how to better manage their debt that is spiraling load turn them around to profitability at last.

Bad Performance Blamed on Sandy and No Smoke Signals

Revenue reports released in February showed A january that is abysmal only $8 million in gambling revenues brought in; a 19% drop from December. Investors had shored up the profit-gushing financial walls for the home in with a $150 million influx of working capital; a move which also added to Revel’s mammoth debt load december. The house has been open at under and has already amended its credit agreements four times year. Financial turnaround firm Alvarez and Marsal was additionally brought in to consult on what to better conserve cash and restructure operations. The firm has its work cut out for them with $1.2 billion already amassed in debt for revel.

November 2012 was also less than this January for reported revenues, a reality blamed in the devastation that Hurricane Sandy brought to Atlantic City; Revel Casino actually turn off due to the storm’s ravages for many days in October and early November.

Initially created as being a ‘destination resort’ directed at aiding Atlantic City’s goal to become an entertainment that is chic convention center, not really a one-day wonder for visitors, the property’s complete cigarette smoking ban has shown a bane among its potential customers, it would appear. Perhaps including to the casino’s woes have already been political factions such as the key casino union as well as conservative taxation payers, none of whom have already been happy with a $260 million tax rebate to help fund nearby improvement projects, as well as an additional financing deal in 2011, caused in part at least with the support of New Jersey Gov. Chris Christie, whom said he thought Revel would ‘change the paradigm in Atlantic City.’

Whoops.

Poor Investment

Investment house Morgan Stanley initially backed Revel at its inception in 2006, but backed out midway through the casino’s construction, writing down almost its entire $1.25 billion investment. Revel CEO Kevin DeSanctis was able to round up a brand new group of investors in early 2011, who loaned the property an additional $1.2 billion to complete the casino resort. Executives are now telling their creditors that the game (and video gaming) plan is to increase Revel’s appeal to slot players, while additionally spending another $10 million on new amenities such as for example quick-service restaurants and a designated high-limit slots area with lounge. How precisely that will place the property that is beleaguered into the black continues to be unclear, but Moody’s Investors Service has cut the casino’s credit history and now identifies its financial outlook as ‘unsustainable.’

Ashton Kutcher Reveals He Fronted Largest Sports Betting Syndicate in U.S.

Movie and television megastar Ashton Kutcher has revealed that between his astronomically paid acting gigs, he produced little extra money on the medial side working with ‘the largest national sports betting syndicate in America’.

Kutcher revealed a significant understanding of the intricacies of sports-betting in the issue that is latest of popular magazine Esquire, explaining that sports books stay away from taking bets from syndicates such as the one he was included with. ‘I essentially just placed the bet,’ stated Kutcher in the interview. ‘The theory had been that the house would just assume I was a dumb actor with a lot of money who liked soccer.’

The actor explained that the recreations syndicate that is betting statistical anomalies and took benefit of point-spread movement throughout the half-season of college football that Kutcher was involved with the group.

Kutcher additionally claimed that the syndicate made a massive $750,000 in simply one month by placing bets on college soccer before the written books caught on. ‘…generally these kinds of individuals aren’t permitted to gamble, nevertheless they learn how to handicap the house. So they really sent me personally in,’ explained Kutcher. ‘It ended up being pretty fun. Then they caught on,’ added the actor.

You can find those insisting now that Kutcher is bad of ‘messenger betting’ which can be illegal in the US state of Nevada, and can lead to a sentencing. However, authorities might have to prove that Kutcher was compensated for his role into the operation and there is as yet no reports of a investigation taking place.

Reporter for Sportingnews.com, David Purdum, has suggested that Kutcher was indirectly referenced in a written book en titled The Smart cash: How the World’s Best Sports Bettors Beat The Bookies Out Of Millions.

The guide, compiled by Michael Konik, describes a ‘shadowy group of gamblers known with regards to their expertise in beating the Vegas line’ which took place during the early 2000s, the same time that a former Las Vegas sports book supervisor has stated familiarity with Kutcher’s betting.

However, Konik has stated that his book ‘is a non-fiction memoir that includes an explanatory note about honouring privacy’ and refused to comment further.

This recent revelation isn’t the first time Kutcher has been walking the grey line between black and white as he previously acted questionably when noting lots of companies he thought were planning to be giants in their markets whilst guest modifying an online edition of Details magazine.

The issue with this editorial was that Kutcher had actually spent in eight associated with organizations which were noted one of several just 12. He even had ‘business entanglements’ with two of the others in the list. However, he showed up getting out from the embarrassing situation unscathed.

Money and Small Arsenal Seized in Illegal Sports Betting Process

Recent news has reported that around two dozen local residents of Hawaii are being charged, or arrested, in connection to illegal sports that are online on the area.

Its reported that federal authorities are clamping down on illegal sports that are online in the area, targeting bets made out of offshore sites.

‘This is something that people in Hawaii have already been doing in Hawaii for an extremely long time,’ stated attorney Megan Kau, who explained that most of the targeted locals which she represents were unaware that online betting was even illegal.

She continued to explain that those partaking in the illegal activities included company people, physicians, legislation enforcement, product sales people, and all walks of life. ‘Nobody would have guessed it might come to something like this,’ added the lawyer.

Terrence Ching, one of the primary to be charged within the Honolulu area, reportedly pleaded guilty to one count of making illegal bets and one count of filing a false tax return. Those prosecuting in the case claim that Ching was in charge of handling large quantities of cash, also reaching the millions, as being a bookie of Costa Rica-based internet gaming sites.

In fact, federal raging bull casino bonuses authorities are reported to have seized around $30,000 in cash from Terrence Ching’s bank-account, and around $330,000 which was stashed in his residence.

Retired FBI representative, Hilton Lui, was quoted by Hawaii Information Now as saying ‘People in Hawaii want to bet’ and stating that online betting is especially addictive due to your known fact that it can be so easy to do.

‘If perhaps you were to be on Google, they’d list the very best internet sites. Some of those are Bovada, Topbet, Wagerbet,’ added Lui.

The case of Terrence Ching is just an insight into the quantity of capital that is changing arms through the unlawful operation, and much more could possibly be revealed due to the fact instance continues.

But the bank account and stashed cash wasn’t the only catch of your day for the federal authorities that they seized an array of semi-automatic handguns and rifles, lavishly expensive designer gold and diamond jewelery, and a number of Rolex watches as it was also reported.

$245,000 was also reported as being confiscated in monetary judgments representing Ching’s gambling victories.

If the monetary seizures begin to tell the story of the level of the illegal online gambling procedure, then the seized arsenal finishes down this shady picture and creates a totally new perspective of the Hawaiian gambling scene, very nearly painting a mafia style imagery associated with organization.

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