Skrill Nabs Two Gaming Awards, Acquires Paysafecard

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

First up, they picked up the ‘Payment Solutions Provider Company of the season’ 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 simplicity of use for the payment provider’s service, as well as their innovation in the field, and how they’ve improved their service within the year that is past.

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

In a pr release following their award wins, Skrill SVP of Sales and advertising, Craig Doyle commented: ‘As the payment industry becomes a lot more competitive, our company is proud to be recognized once the payment solution that is best 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 provider that is leading of re payment solutions.’

That estimate proved become instantly prophetic, as Skrill wasted very little time in growing and enhancing their status as the leading payment provider, completing their acquisition of Paysafecard the same day they picked up the second of their iGaming awards.

Europe’s frontrunner in prepaid online payments, Paysafecard is available in 33 countries and more than 450,000 locations throughout European countries, united states, and South usa, and may be used to shop for products at more than 4,000 internet vendors without the necessity for a bank account or charge card. Paysafecard processed more than 55 million transactions in 2012.

The acquisition provides Skrill’s clients a strong and simple method to fund their accounts and pay for goods and services, and will show especially valuable for customers in underserved countries, where banking and transaction processing options are restricted.

‘For both sides this can be 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 gaming that is key digital news markets verticals, establishing us as a provider of end-of-end transfer of kept value,’ said Skrill CEO Siegfried Heimgaertner. ‘This is another significant step towards our long-lasting ambitions to be 1st choice for online payments, helping our end-customers and merchants to pay and get paid globally.’

Now we can only just wait and see what Skrill can conjure up for the encore in the weeks and months to come. If it’s anything like their performance this previous week, it should really be instead impressive.

Revel Casino’s Titanic Debt Attempting to Avoid an Iceberg

Apparently, the truism that is common even a poorly run casino will be lucrative isn’t true, at least not from looking at the money outlook of Atlantic City-based casino resort Revel’s monetary 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 share with them just 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 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 regarding the property 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 for under and has already amended its credit agreements four times year. Financial turnaround firm Alvarez and Marsal was also brought in to consult on how to raised conserve cash and restructure operations. The firm has its work cut out for them with $1.2 billion already amassed in debt for revel.

2012 was even lower than this January for reported revenues, a reality blamed on the devastation that Hurricane Sandy brought to Atlantic City; Revel Casino actually shut down due to the storm’s ravages for several days in October and early November November.

Initially created as a ‘destination resort’ targeted at aiding Atlantic City’s goal to become an entertainment that is chic convention center, not really a one-day wonder for visitors, the house’s complete cigarette smoking ban has proved a bane among its potential clients, it would appear. Perhaps incorporating to the casino’s woes have been political factions such as the key casino union as well as conservative income tax payers, none of whom were delighted with a $260 million tax rebate to help fund nearby improvement tasks, as well as an additional financing deal in 2011, created in part at the very least with the support of the latest Jersey Gov. Chris Christie, who said he thought Revel would ‘change the paradigm in Atlantic City.’


Poor Investment

Investment home Morgan Stanley initially backed Revel at its inception in 2006, but backed down 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 new group of investors in early 2011, whom loaned the house an extra $1.2 billion to finish the casino resort. Executives are now telling their creditors that the overall game (and gaming) plan is to improve Revel’s appeal to slot players, while also spending another $10 million on new amenities such as for instance quick-service restaurants and a designated high-limit slots area with lounge. How exactly that will put the beleaguered property back within the black stays unclear, but Moody’s Investors Service has slice the casino’s credit score and now means 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 paid acting gigs, he made a little additional cash on the medial side working with ‘the biggest national sports wagering syndicate in America’.

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

The actor explained that the sports wagering syndicate pinpointed statistical anomalies and took benefit of point-spread movement through 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 simply four weeks by placing bets on college soccer before the books caught on. ‘…generally these kind of people aren’t allowed to gamble, nonetheless they know how to handicap the house. So that they sent me personally in,’ explained Kutcher. ‘It was pretty fun. Then they caught on,’ added the actor.

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

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

The book, written by Michael Konik, describes a ‘shadowy team of gamblers known for his or her 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 a note that is explanatory honouring privacy’ and refused to comment further.

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

The issue using this editorial was that Kutcher had myself invested in eight for the businesses which had been noted on the list of just 12. He even had ‘business entanglements’ with two of the others on the list. However, he appeared getting out from the embarrassing situation unscathed.

Money and Small Arsenal Seized in Illegal Sports Betting Procedure

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

It’s reported that federal authorities are clamping down on illegal sports that are online in the area, targeting bets created using offshore sites.

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

She proceeded to explain that those partaking in the activities that are illegal business people, health practitioners, legislation enforcement, product sales people, and all walks of life. ‘Nobody would have guessed it could come to one thing like this,’ added the lawyer.

Terrence Ching, one of the first to be charged within the Honolulu area, reportedly pleaded guilty to one count of creating illegal bets and one count of filing a false taxation return. Those prosecuting in the event claim that Ching was in charge of handling large quantities of money, even reaching the millions, as being a bookie of Costa internet that is rica-based internet 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 representative, Hilton Lui, was quoted by Hawaii Information Now as saying ‘People in Hawaii prefer to bet’ and stating that online betting is especially addicting due to the fact that it is really easy to do.

‘they would list the top sites if you were to go on Google. Some of these are Bovada, Topbet, Wagerbet,’ added Lui.

The case of Terrence Ching is just an insight into the amount of money that is changing arms through the operation that is illegal and much more might be revealed due to the fact situation continues.

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

$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 extent of this illegal online gambling operation, then your seized arsenal finishes down this shady picture and creates a totally new perspective of the Hawaiian gambling scene, almost painting a mafia style imagery of this organization.