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Below-par performance by Melco’s Cyprus casino

Niji Ng

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Below-par performance by Melco’s Cyprus casino
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Melco International Development started a temporary Cyprus casino last week. However, it is so far performing “below expectations,” according to its property president.

Around 2000 customers visited the facility per day during the first week. There have been 7000 unique visitors so far, and about 4000 users joined the casino’s reward club. Bulk of the visitors were local residents, with Greece, Ukraine and Russia providing the most foreign guests.

But Craig Ballantyne, president of the Cyprus Casino aka C2, told the Cyprus Mail that, while the launch had been “a real rollercoaster ride,” the reaction had been “below expectations.” Ballantyne referenced the roughly 30 casinos in the Turkish-controlled northern half of Cyprus, saying “we’re not the only game in town.”

Ballantyne added that those northern casinos had an operational advantage over C2 because their comparatively lax regulatory oversight meant they could “give everything free” to customers, including alcohol, tobacco, “just about everything and anything … it’s not a level playing field.”

Ballantyne said Melco was discussing potential remedies with Cypriot regulators, including relaxing rules that prevent C2 from promoting gambling as a potential source of financial gain. Ballantyne noted that it was somewhat “discriminatory” that the lottery operations of the OPAP monopoly were allowed to hype multi-million euro jackpots “on every shop window in every street and every corner.”

So far, Ballantyne said C2’s slot machines were proving the most popular form of gambling with local punters, although the roulette, blackjack, poker and Russian poker tables were also doing well. However, Ballantyne said the property may “swap around” some tables, including adding some high-end baccarat, based on customer feedback.

Melco Int’l broke ground last month on its permanent €550m City of Dreams Mediterranean integrated resort, which is projected to open its first phase by 2021. Melco’s deal with the Republic of Cyprus allows it to open multiple ‘satellite’ slots-only facilities in addition to the C2 venue while its main venue is under construction.

 

Source: CalvinAyre.com

Niji has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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GVC to thrive after Ladbrokes Coral integration

Niji Ng

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GVC to thrive after Ladbrokes Coral integration
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GVC Holdings, the premier casino company in the world operating of Isle of Man, has drafted into its product mould a selection of content developed by CR Games, the in-house studio of the Ladbrokes Coral Group. GVC’s online brand will now include 20 titles from CRM games such as bwin, PartyCasino and Sportingbet.

The move is expected to thrive GVC’s business further. Integration of five more titles, including CR Games’ flagship “Big Banker” slot title, will start soon. This will include.

GVC plans to introduce the full line-up of games within the next few weeks, with the firm to launch the content in regulated market such as Italy, Denmark and New Jersey in the US before the end of the year.

GVC took ownership of CR Games when it completed its acquisition of Ladbrokes Coral in March.

Liron Snir, chief product officer at GVC, said: “This is an important milestone in the integration of GVC and Ladbrokes Coral and demonstrates the benefits to customers of bringing the businesses together.”

“At GVC, content is king and we believe building a unique gaming offer, which marries exclusive in-house developed games with the very best titles from third-parties, is a win-win for our players.”

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Gambling in the USA

West Virginia Lottery appoints new director

Niji Ng

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West Virginia Lottery appoints new director
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The governor of the state has named John Myers as the director of the regulatory body.

 

West Virginia Governor Jim Justice has appointed John Myers is the new director of the state’s official lottery, West Virginia Lottery. Myers will replace Alan Larrick, who announced his resignation September 1, immediately after the state allowed sports betting at local casinos. Douglas Buffington II. deputy secretary for the West Virginia Secretary of Revenue, has been functioning as state Lottery interim director.

The executive that was named by the Governor has served as Secretary of Administration for the Justice Administration, but it is not the first time that he will work with the Lottery, as he had different positions from 2008 to 2017 and even served as acting director from 2015 to 2017.

Earlier this week the Joint Standing Committee on Finance of West Virginia gathered to talk during the second day of September legislative interim meetings at the State Capitol about recent modifications on the Virginia Lottery Commission staff and how it can affect sports betting operations.

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Latest News

Meridian lands online gambling license in Colombia

Niji Ng

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Meridian lands online gambling license in Colombia
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Meridian Gaming, the London-based gaming company, has obtained online gambling license in Colombia. Meridian is the 15th company to get the license in the South American country after the new gambling regulation came into force.

Coljuegos, gambling regulator in Colombia, has issued the licence to Meridian Gaming Colombia SAS.

Meridian will operate in the Latin American country through the Meridianbet.com.co platform, via which punters will be able to place wagers on real sports events.

The firm joins other licensed sites, such as wplay.co, betplay.com.co, colbet.co, zamba.co, codere.com.co, mijugada.co, masgol.co, luckia.co, sportium.com.co, rushbet.co, aquijuego.co, apuestalo.co, betalfa.co and rivalo.co.

Coljuegos said in a statement that a further two licensed websites could go live before the end of the year.

Last month, Coljuegos set out plans to clamp down on illegal gambling activities in an effort to divert more tax funds to national health and social services.

Coljuegos president Juan B. Pérez Hidalgo said a total of “2,534 illegal elements of games of luck and chance” had been withdrawn so far this year.

Pérez Hidalgo also said that the taxes avoided by the illegal operations could have “financed the subsidised health system and served more than 107,000 Colombians.”

 

Source: iGaming Business

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