Skrill Nabs Two Gaming Awards, Acquires Paysafecard

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

First up, they acquired the ‘Payment Solutions Provider business of the Year’ honor at the 2013 International Gaming Awards, held February 4th in London, England. The judging for the award considered such factors once the speed and ease of use for the payment provider’s solution, because well as their innovation in the field, and exactly how they’ve enhanced their solution on the year that is past.

Skrill added to their hardware haul on February 8th at the iGB Internet Awards, picking right up the award for ‘Best Payment System’. Also taking place in London, the shortlist of nominees was decided by user votes, aided by 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 costs, and their excellent customer service.

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

That estimate proved to be instantly prophetic, as Skrill wasted time that is little growing and enhancing their status as the leading payment provider, finishing their purchase of Paysafecard the exact same day they picked up the second of the iGaming awards.

Europe’s frontrunner in prepaid online payments, Paysafecard is obtainable in 33 countries and much more than 450,000 locations throughout European countries, North America, and South America, and may be utilized to buy goods at a lot more than 4,000 online retailers without the need for a bank account or bank card. Paysafecard processed more than 55 million transactions in 2012.

The acquisition gives Skrill’s clients a robust and way that is simple fund their accounts and pay for goods and solutions, and will show especially valuable for customers in underserved countries, where banking and deal processing options are restricted.

‘For both sides it is a acquisition that is strategically important we are pleased it really is now finalised. Paysafecard complements our current offering and strengthens our position in the key gaming and digital news 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-lasting ambitions to become initial choice for online payments, helping our end-customers and merchants to pay and obtain paid globally.’

Now we can just only wait to discover what Skrill can conjure up for the encore in the full months 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 Attempting to Avoid an Iceberg

Apparently, the common truism that even a poorly run casino will be lucrative isn’t true, at the very least not from looking at the money outlook of Atlantic City-based casino resort Revel’s financial denouement of late. The property’s overseer, Revel Entertainment Group LLC, recently brought in law firm Kirkland & Ellis LLP along with investment bank Moelis & Co. to inform them how to better manage their spiraling debt load and turn them around to profitability at final.

Bad Performance Blamed on Sandy and No Smoke Signals

Income reports released in February showed an abysmal january, with only $8 million in gambling revenues brought in; a 19% drop from December. Investors had shored up the profit-gushing financial walls regarding the home in with a $150 million influx of working capital; a move which also added to Revel’s mammoth debt load december. The property 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 how 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 even lower than this January for reported revenues, a reality blamed in the devastation that Hurricane Sandy brought to Atlantic City; Revel Casino actually power down due to the storm’s ravages for several times in October and very early November.

Initially created as a ‘destination resort’ aimed at aiding Atlantic City’s goal to become a stylish entertainment and convention center, not just a one-day wonder for visitors, the property’s complete smoking cigarettes ban has proved a bane among its potential customers, it would appear. Perhaps adding to the casino’s woes were political factions such as the key casino union as well as conservative income tax payers, none of whom have now been delighted with a $260 million tax rebate to help fund nearby improvement projects, since well as an additional financing deal in 2011, created in part at the very least with the support of New Jersey Gov. Chris Christie, who said he thought Revel would ‘change the paradigm in Atlantic City.’

Whoops.

Poor Investment

Investment home Morgan Stanley initially backed Revel at its inception in 2006, but backed down midway through the casino’s construction, writing off almost its entire $1.25 billion investment. Revel CEO Kevin DeSanctis was able to round up a group that is new of in early 2011, who loaned the home an additional $1.2 billion to finish the casino resort. Executives are now telling their creditors that the game (and gaming) plan is to boost Revel’s appeal to slot players, while additionally spending another $10 million on new amenities such as 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 remains uncertain, but Moody’s Investors Service has cut the casino’s credit rating and now relates to its economic 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 compensated acting gigs, he made a little cash that is extra the medial side working with ‘the largest national recreations gambling syndicate in America’.

Kutcher revealed a decent knowledge of the intricacies of sports-betting in the latest issue of popular magazine Esquire, explaining that sports books club player casino no deposit 2015 stay away from using wagers from syndicates such once the one he had been included with. ‘I fundamentally just placed the bet,’ stated Kutcher within the interview. ‘The hypothesis had been that the house would just assume I was an actor that is dumb a lot of money who liked soccer.’

The actor explained that the recreations wagering syndicate pinpointed statistical anomalies and took benefit of point-spread movement during the half-season of college football that Kutcher had been involved with the group.

Kutcher also claimed that the syndicate made a massive $750,000 in just four weeks by placing bets on college football before the books caught on. ‘…generally these types of individuals aren’t allowed to gamble, nevertheless they learn how to handicap the house. So that they sent me in,’ explained Kutcher. ‘It was pretty fun. Then they caught on,’ added the actor.

You will find those insisting given that Kutcher is guilty of ‘messenger betting’ which is illegal in the US state of Nevada, and may lead to a sentencing. However, authorities might have to prove that Kutcher had been compensated for his role in the operation and there is as yet no reports of a investigation place that is taking.

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

The book, published by Michael Konik, describes a ‘shadowy group of gamblers known for their expertise in beating the Vegas line’ which took place during the early 2000s, the time that is same a former Las Vegas sports book manager 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 declined to comment further.

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

The issue with this editorial was that Kutcher had myself spent in eight associated with organizations which had been noted one of many just 12. He even had ‘business entanglements’ with two of the others regarding the list. However, he appeared to obtain 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 island.

Its reported that federal authorities are clamping down on unlawful sports that are online in the area, targeting bets made with offshore web sites.

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

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

Terrence Ching, one of the first to be charged into the Honolulu area, reportedly pleaded guilty to one count of creating illegal wagers and one count of filing a false tax return. Those prosecuting in the case claim that Ching was accountable for handling large levels of money, even reaching the millions, as being a bookie of Costa Rica-based internet gaming web sites.

In fact, federal 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 agent, Hilton Lui, was quoted by Hawaii News Now as saying ‘People in Hawaii prefer to bet’ and stating that online betting is specially addicting due towards the known fact that it is really so easy to do.

‘If 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 understanding of the quantity of money that is changing hands through the unlawful operation, and more might be revealed once the situation continues.

But the bank account and stashed money was not 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 wins.

Then the seized arsenal finishes off this shady picture and creates a whole new perspective of the Hawaiian gambling scene, almost painting a mafia style imagery of the organisation if the monetary seizures begin to tell the story of the extent of this illegal online gambling operation.