This Week in Gambling

iGaming Business – UK bookmaker Coral, a division of online and land-based betting operator Gala Coral, has agreed a five-year extension to its title sponsorship of the Welsh Grand National annual horseracing event. The race takes place every December at Chepstow Racecourse as part of its Christmas programme. Coral will continue to work with both Chepstow Racecourse and its operator, Arena Racing Company, on various activities. The latest agreement will extend Coral’s association with the Chepstow Christmas period marathon to 45 years, which it claims will make it the third longest sponsorship deal in jumps racing and the longest partnership…

iGaming Business – Irish bookmaker Paddy Power has strengthened its presence in the country with the purchase of nine betting shops from independent bookmaker Hacketts. According to the Irish Independent newspaper, the acquisition will increase the number of Paddy Power outlets in the Republic of Ireland to 232. Located in Limerick, Dublin, Clonmel, Templemore and Tullamore, the nine shops will be rebranded under the Paddy Power name. The deal is expected to be completed in early 2014. Prior to Paddy Power’s purchase of the nine stores, Hacketts had a portfolio of more than 50 outlets in Ireland. The announcement comes…

Global Tax News – In the autumn of 2000 the Maltese government passed legislation enabling online betting centres to be set up in the country, and this legislation, coupled with provisions from the Income Tax Act written specifically for international companies, made Malta an attractive location for casino and sportsbook operations. Malta became the first EU member state to regulate internet gaming in May 2004 with its Remote Gaming Regulations under the Lotteries and Other Games Act 2001. A large number of companies from around the world expressed interest in Malta, including Stanley Leisure, William Hill, Ladbrokes, Paddy Power, Unibet,…

iGaming Business – Online gaming operator bwin.party has said that its outlook for next year remains ‘positive’ after citing increased betting volumes during the 2014 Fifa World Cup national team football tournament as one of the key catalysts that will help drive growth. In a pre-close trading update issued today (Wednesday), bwin.party also said new product launches, continued mobile expansion and prospects for further growth would contribute to business in the New Year. Elsewhere, the operator said that its overall trading in the 11 weeks since September 30, 2013 was in line with management expectations, with 52% of average net…

Reuters – Sri Lanka has approved Australian Crown Resorts Ltd’s $400 million complex along with two similar projects, but without any explicit permission to operate casinos at them, the island’s junior investment minister said on Tuesday. However, Crown’s chief, gambling tycoon James Packer, would still be able to operate a casino in his mixed-development project through his local partner, the minister said. The government’s decision to alter the deal’s terms came after opposition politicians said Packer was getting concessions not given to local entrepreneurs and Buddhist leaders said the casino could be detrimental to Sri Lanka’s culture. Faizer Mustapha, the…

CBC – A development permit has been issued with conditions to Paragon Gaming to build an urban resort in downtown Vancouver. The $535-million project includes two hotel towers, a conference centre, restaurants and a new and expanded location for the existing Edgewater Casino, with twice the floor space of the existing facility at the Plaza of Nations. Opponents of the plan voiced their concern over gambling addiction in light of Provincial Health Officer Perry Kendall’s report on the health effects of gaming. Two years ago, the city rejected any expansion of gambling at the proposed site next to BC Place Stadium….