Archive for December, 2011

Pennsylvania Gambling Laws

Legislators in Pennsylvania have been making progress with a bill concerning the state’s laws towards gambling. The bill passed in the state House of Representatives on Monday by a very thin margin, and will be up for questioning in the Senate this Wednesday. Complications in the bills passing are foreseeable, as is the case with any legislation.

Pennsylvania Gambling Laws: Casino-expansion bill clears hurdle in Pa. House

A proposal to expand casino gambling in Pennsylvania Gambling Laws cleared a crucial first hurdle in the state House of Representatives on Monday by a close margin of 97-95. Most Democrats were in favor of it and most Republicans opposed it.

Supporters of Pennsylvania Gambling Laws will help the state government raise revenue to alleviate tax collections to 12%, and provide jobs in these hard times. Another House vote and Senate approval are needed before it can become law. Approval could occur this week, concluding a state budget agreement and freeing $700 million for universities that is being held by Gov. Ed Rendell until the bill passes.

The measure would raise the state’s number of casinos from 14 to 15 and legalize table games such as blackjack. It’s supposed to raise $320 million over the first 2 years, setting a 14% tax rate on table games and requiring casinos to pay millions in license fees.

The leaders of Pennsylvania’s state universities accused Rendell and House Democrats of holding them hostage by stalling their schools’ subsidy until Legislature approves a gambling expansion.

House Republican leaders opposed Pennsylvania Gambling Laws, as they believe financing state government with gambling money is bad policy. Opponents of the bill said it reeks of back-room deal making.

Pennsylvania gambling laws

The Pennsylvania House of Representatives passed a controversial table games bill Tuesday, bringing Penn State one step closer to receiving its $334 million state appropriation.

Local representatives were split along party lines on the vote. Gov. Ed Rendell will not sign Penn State’s appropriation into law until the table games bill is passed by both houses of the General Assembly, said Gary Tuma, Rendell’s press secretary.

Tuma said Rendell wants to be certain funds are available for Penn State’s appropriation before signing it into law.

Casino-Expansion Bill Gets OK from PA House

A Pennsylvania Gambling Laws bill to expand legalized casino gambling in Pennsylvania received approval Tuesday from the state House of Representatives. It is almost certain to face changes in Senate as early as Wednesday. Proponents say it will ease state taxes. Opponents say the bill is about doing the gambling industry a favor and is larded with favors for lawmakers’ pet causes while ensuring families will be broken by gambling addiction.

Changes likely to be made in Pennsylvania Gambling Laws include removing the provision that would allow a 15th casino license and adding a requirement that state gambling regulators allow new applications to be considered for the last existing competitive casino license that wasn’t awarded.

A key reform in the bill is the reinstatement of a ban on cash contributions to political causes by gambling industry executives and investors. In April, the state Supreme Court struck down the five-year-old Pennsylvania Gambling Laws, which had been considered a key bulwark against the political influence of the gambling industry.

Pennsylvania Gambling Laws

Legislators in Pennsylvania have been making progress with a bill concerning the state’s laws towards gambling. The bill passed in the state House of Representatives on Monday by a very thin margin, and will be up for questioning in the Senate this Wednesday. Complications in the bills passing are foreseeable, as is the case with any legislation.

Pennsylvania Gambling Laws: Casino-expansion bill clears hurdle in Pa. House

A proposal to expand casino gambling in Pennsylvania Gambling Laws cleared a crucial first hurdle in the state House of Representatives on Monday by a close margin of 97-95. Most Democrats were in favor of it and most Republicans opposed it.

Supporters of Pennsylvania Gambling Laws will help the state government raise revenue to alleviate tax collections to 12%, and provide jobs in these hard times. Another House vote and Senate approval are needed before it can become law. Approval could occur this week, concluding a state budget agreement and freeing $700 million for universities that is being held by Gov. Ed Rendell until the bill passes.

The measure would raise the state’s number of casinos from 14 to 15 and legalize table games such as blackjack. It’s supposed to raise $320 million over the first 2 years, setting a 14% tax rate on table games and requiring casinos to pay millions in license fees.

The leaders of Pennsylvania’s state universities accused Rendell and House Democrats of holding them hostage by stalling their schools’ subsidy until Legislature approves a gambling expansion.

House Republican leaders opposed Pennsylvania Gambling Laws, as they believe financing state government with gambling money is bad policy. Opponents of the bill said it reeks of back-room deal making.

Pennsylvania gambling laws

The Pennsylvania House of Representatives passed a controversial table games bill Tuesday, bringing Penn State one step closer to receiving its $334 million state appropriation.

Local representatives were split along party lines on the vote. Gov. Ed Rendell will not sign Penn State’s appropriation into law until the table games bill is passed by both houses of the General Assembly, said Gary Tuma, Rendell’s press secretary.

Tuma said Rendell wants to be certain funds are available for Penn State’s appropriation before signing it into law.

Casino-Expansion Bill Gets OK from PA House

A Pennsylvania Gambling Laws bill to expand legalized casino gambling in Pennsylvania received approval Tuesday from the state House of Representatives. It is almost certain to face changes in Senate as early as Wednesday. Proponents say it will ease state taxes. Opponents say the bill is about doing the gambling industry a favor and is larded with favors for lawmakers’ pet causes while ensuring families will be broken by gambling addiction.

Changes likely to be made in Pennsylvania Gambling Laws include removing the provision that would allow a 15th casino license and adding a requirement that state gambling regulators allow new applications to be considered for the last existing competitive casino license that wasn’t awarded.

A key reform in the bill is the reinstatement of a ban on cash contributions to political causes by gambling industry executives and investors. In April, the state Supreme Court struck down the five-year-old Pennsylvania Gambling Laws, which had been considered a key bulwark against the political influence of the gambling industry.

Online casino pro Cryptologic has agreed to license at least five of their casino games to BetClic.

The agreement will be beneficial to both parties, and Cryptologic will earn revenues based on wagers placed on the games. Following the announcement, the online casino pro shares jumped considerably.

Online Casino Pro Cryptologic Innovative Betting Games

CryptoLogic Limited, an international developer of online casino games and software, just signed a multi-year agreement to license five or more of its best casino games to BetClic, a major European internet sportsbook.

This agreement covers a few of online casino pro CryptoLogic’s best online slot games, which will soon be featured on BetClic’s Games website. The games will be integrated with the help of Gaming Technology Solutions plc, CryptoLogic’s technology platform provider.

President and CEO of CryptoLogic Brian Hadfield said, “The popularity and demand for our industry-leading games remains strong as evidenced by this latest agreement with BetClic, a fast growing European operator. As each new licensee launches our games, we add a new and recurring revenue stream to our business while providing enhanced value and user experience for our partners’ customers.”

Nicolas Beraud, CEO of BetClic, announced, “We are excited about the prospect of adding quality branded content to our current portfolio. CryptoLogic games are instantly recognisable and are developed to the highest industry standards. This partnership further enhances our commitment to offering the best gaming experience to our diverse customer base.”

Online casino pro Cryptologic on sports betting

Cryptologic, a Dublin-based company specializing in online gaming software, is about to sign a deal with Betclic, global online sportsbook operator, and will soon be launching a series of new games in partnership with DC Comics and Paramount Digital Entertainment.

They expected to announce this week that the Malta-based online sports betting company Betclic will soon offer Cryptologic games on the casino portion of their website.

Betclic is primarily focused on sports betting, especially football. The group has businesses in 15 countries and caters to around 1.5 million customers. Betclic is working to develop its casino and poker casino offerings, which have become a standard part of online gambling sites.

Cryptologic has partnerships with DC Comics and Paramount Digital Entertainment (a parent company of Paramount Pictures), and develops games using characters owned by these groups, including Superman and Braveheart.

TechMARK movers: CryptoLogic signs BetClic deal

Shares in online gambling software and games developer CryptoLogic soared after an announcement that they have signed a licensing deal with BetClic, a major European online sportsbook. Betclic will license at least five games from CryptoLogic. This deal will provide recurring revenues for online casino pro CryptoLogic because income is to be based on all wagers placed on the games.

CryptoLogic reported a significant decline in revenues from $50.2m to $29.9m in the nine months prior to September 2009. The loss more than doubled, jumping from $6.48m to $13.5m. The decline was blamed on licensees acting too slowly in launching new games.

CryptoLogic shares are traded on the TSX, Main Market, and Nasdaq. The current online casino pro is half what it was in the middle of September.

Online casino pro Cryptologic has agreed to license at least five of their casino games to BetClic.

The agreement will be beneficial to both parties, and Cryptologic will earn revenues based on wagers placed on the games. Following the announcement, the online casino pro shares jumped considerably.

Online Casino Pro Cryptologic Innovative Betting Games

CryptoLogic Limited, an international developer of online casino games and software, just signed a multi-year agreement to license five or more of its best casino games to BetClic, a major European internet sportsbook.

This agreement covers a few of online casino pro CryptoLogic’s best online slot games, which will soon be featured on BetClic’s Games website. The games will be integrated with the help of Gaming Technology Solutions plc, CryptoLogic’s technology platform provider.

President and CEO of CryptoLogic Brian Hadfield said, “The popularity and demand for our industry-leading games remains strong as evidenced by this latest agreement with BetClic, a fast growing European operator. As each new licensee launches our games, we add a new and recurring revenue stream to our business while providing enhanced value and user experience for our partners’ customers.”

Nicolas Beraud, CEO of BetClic, announced, “We are excited about the prospect of adding quality branded content to our current portfolio. CryptoLogic games are instantly recognisable and are developed to the highest industry standards. This partnership further enhances our commitment to offering the best gaming experience to our diverse customer base.”

Online casino pro Cryptologic on sports betting

Cryptologic, a Dublin-based company specializing in online gaming software, is about to sign a deal with Betclic, global online sportsbook operator, and will soon be launching a series of new games in partnership with DC Comics and Paramount Digital Entertainment.

They expected to announce this week that the Malta-based online sports betting company Betclic will soon offer Cryptologic games on the casino portion of their website.

Betclic is primarily focused on sports betting, especially football. The group has businesses in 15 countries and caters to around 1.5 million customers. Betclic is working to develop its casino and poker casino offerings, which have become a standard part of online gambling sites.

Cryptologic has partnerships with DC Comics and Paramount Digital Entertainment (a parent company of Paramount Pictures), and develops games using characters owned by these groups, including Superman and Braveheart.

TechMARK movers: CryptoLogic signs BetClic deal

Shares in online gambling software and games developer CryptoLogic soared after an announcement that they have signed a licensing deal with BetClic, a major European online sportsbook. Betclic will license at least five games from CryptoLogic. This deal will provide recurring revenues for online casino pro CryptoLogic because income is to be based on all wagers placed on the games.

CryptoLogic reported a significant decline in revenues from $50.2m to $29.9m in the nine months prior to September 2009. The loss more than doubled, jumping from $6.48m to $13.5m. The decline was blamed on licensees acting too slowly in launching new games.

CryptoLogic shares are traded on the TSX, Main Market, and Nasdaq. The current online casino pro is half what it was in the middle of September.