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The known effects of online poker in New Jersey

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pexels-photo-590020 The known effects of online poker in New Jersey

New Jersey has never been a focus point when it comes to talk about online poker revenue. Every month when the numbers come out and the stats are revealed per vertical in NJ, somehow online poker always seems to fall short.

This has been the case for the past 18 – 19 months and the recent figures are highlighting the side effects of the signing of the game changing multi-state agreement.  The multi-state agreement was set up to allow online poker operators to share online poker player pools with others in Nevada and Delaware.

To put it as simple as possible, online poker players in Nevada, New Jersey, and Delaware were able to play against each other legally for the first time when they logged on to the WSOP.com and 888poker network on May 1, 2018.

Before the shared liquidity was allowed in New Jersey, the market was in a perpetual decline with only a few months of annual increases posted by individual operators scattered across the entire history of the market.

As mentioned earlier, the agreement beseem to be a booster for the online poker industry in NJ, but it proved to be deficient in raising the scores when it comes to income from online poker. We must mention the fact that 888poker NJ, who are currently the only New Jersey online poker network that is able to share player liquidity with other states, reported a 19.5% annual increase last month.

The combining of player pools is a huge step forward for the online gambling industry in the US and even if it came with some technical glitches at first, technology has managed to resolve most of the reported errors.

If there are signs that are pointing toward a rise in revenues, we certainly must mention that larger player pools will have a ripple effect on online poker and shared liquidity may also have a positive impact on potential legislation in other states. This could be in the mind of the Pennsylvanian legislators, who are flirting with the idea of launching online poker.

Pennsylvania is the sixth largest state in the US (population of nearly 13 million people) and rumors say that the process of launching online poker already begun with the likely case of joining the Multi-State Internet Gaming Association when it goes live.

We can already say that if the plan goes through, it would double the number of those currently exposed to online poker in the three states, mentioning the fact that when the current shared liquidity begun, it brought an additional exposure to 4 million people for the All American Poker Network (AAPN).

Thus, in my opinion, we can set an additional news alert, next to the New Jersey Division of Gaming Enforcement (DGE) notifications of course, for online poker in Pennsylvania.

With an experience of over 8 years in the online gambling industry, as an affiliate, later affiliate manager and consultant, I consider myself a veteran of the industry and can guarantee that you will be served with the most accurate information.

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Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs

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9-10 Oriental Group Gets Approval for Developing Gaming Hubs to House POGOsReading Time: 1 minute

 

Oriental Group, the Asian-based online gaming giant, has got approval form PAGCOR, the gaming regulator in Philippines, to develop two hubs for the purpose of hosting accredited Philippine Offshore Gaming Operators (POGOs). The hubs will be based in Clark and Cavite.

The hubs will not only house the offices of accredited POGOs but also workers’ residences and relevant government agencies. The idea is to make it easier for PAGCOR to regulate the industry.

“We are making business more comfortable and easier for the operators by now licensing POGO hubs. Since it’s easier for us to regulate when they are in hubs, then there are some special privileges there like five-year licenses,” PAGCOR chair Andrea Domingo said.

According to Kevin Wong, General Manager of Oriental Game, the Clark hub which is covering an area of around 10 hectares is already operational and will be able to accommodate 5000 workers once at full capacity. The Cavite hub, which will cost Oriental Game Php8 billion (US$156 million) to build, will cover 20 hectares and house 20,000 workers.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Oriental Group Gets Approval for Developing Gaming Hubs to House POGOs

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Sands China Launches Special Financing Support Programme for Local SMEs

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8-11 Sands China Launches Special Financing Support Programme for Local SMEsReading Time: 1 minute

 

Sands China, the integrated resort developer and operator in Macau, has launched a special financing programme for its local SME suppliers, in cooperation with six local banks.

The new financing programme is part of Sands China’s F.I.T. initiative which offers Financial Support, Invitational Matching and Training and Development to local SME suppliers.

Through the Sands China SME Financial Support Programme, six local banks are offering special loans and credit to local SMEs who have contracts or purchase orders with Sands China. The goal is to support the development of local SMEs through faster, easier and more favourable bank financing loan products.

“Sands China is very pleased to be the first integrated resort operator in Macao to present this new financing program for our local SME suppliers. It is important for our company’s growth to go hand-in-hand with the growth of local businesses, and this latest initiative is part of Sands China’s ongoing and long-term commitment to supporting local SME suppliers. We want our presence in the marketplace to provide opportunities for smaller companies in Macao to benefit from the business opportunities that are created as a result,” Dr. Wilfred Wong, president of Sands China Ltd said.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Sands China Launches Special Financing Support Programme for Local SMEs

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Middleton Katz Joins SMP Group

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katz-smp Middleton Katz Joins SMP GroupReading Time: 2 minutes

 

Isle of Man-based corporate services provider Middleton Katz has today announced a deal to join the SMP Group of Companies, a global professional and financial services group.  The transaction has been approved by the Isle of Man Financial Services Authority.

Middleton Katz is a well-respected service provider on the Isle of Man, delivering corporate, tax, and accounting services to a broad range of clients. The company has built its reputation on professional expertise, personal service, and attention to detail.

Martin Katz, Principal of Middleton Katz, commented: ‘I am incredibly proud of the business and sense of community we have built; as a small, close-knit team, we have consistently punched above our weight in terms of the services we deliver. However, joining a larger group gives us the back-office support we need to extend and improve the services we offer clients much farther than we could alone. For us, SMP was a clear candidate from the beginning. We have dealt with them many times in the past and always been treated fairly and respectfully, so we already have strong relationships with many of their team.’

David Hudson, CEO of SMP Group, added: ‘Middleton Katz is an efficient and highly skilled company that is well-loved and respected by both clients and staff for its personable and reliable service and culture. We know they will integrate very naturally into our business, and we believe our shared history and ambitions will be hugely beneficial for their clients and staff.

‘Middleton Katz is our second acquisition since completion of the MBO on 14th June and represents another significant milestone for our Group.’

The deal has been undertaken with the support of Palatine Private Equity LLP, the UK mid-market private equity house that took SMP through its 2019 MBO, with additional debt funding from Apera Asset Management.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Middleton Katz Joins SMP Group

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