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Asian Poker Tour Elects Fred Leung as Chief Executive

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Asian Poker Tour, the premier poker tour in Asia, has reinforced its leadership team with a new addition. The event organizer named the experienced Fred Leung, former PokerStars exec, as its new chief executive officer.

APT Names Leung as CEO

Leung is no stranger to poker. The experienced executive has spent over a decade with PokerStars Macau, helping the brand host some of the biggest events in the region. His last position saw him work as PokerStars Live Events’ senior marketing and business development manager for Asia.

During his time with PokerStars, Leung was responsible for overseeing some of the biggest poker tournaments in Macau and Asia as a whole. This includes notable events including Macau Millions, the Macau Poker Cup and the Asia Championship of Poker.

As CEO of Asian Poker Tour, Leung will be responsible for maintaining the tour’s leadership position as one of the best event organizers in Asia. To that end, Leung will collaborate with Lloyd Fontillas, general manager and executive tournament director at Asian Poker Tour, to host the APT Philippines 2022 at the Newport World Resorts.

For reference, the aforementioned event is scheduled to begin on September 6.

Leung Is Happy to Head the APT

Leung joins the Asian Poker Tour in the wake of Jeff Mann’s leave. The former CEO left the company when Asianlogic Group sold the APT to APT Events Private. Michael Soyza, a professional poker player and an associate of APT Events Private, spoke about the new chief executive.

According to Soyza, picking Leung as the new CEO was a no-brainer thanks to the latter’s experience and success in the Far East. The poker pro added that all shareholders agreed with the decision and that Asian Poker Tour is “ecstatic” to have him head the company. Soyza concluded that he is sure Leung is the best person for the job and will “raise the APT to new heights.”

Leung himself commented on his new position at the company. He said that he is “beyond excited” at this opportunity and is delighted to join APT. He lauded the company for its strong presence in the region and said that the brand’s objective now is to retain its legacy while still evolving and remaining competitive.

Leung revealed that APT’s new ownership group was a big reason for his decision to join the team. He described APT Events Private as an aggressive, ambitious and passionate brand that truly cares about poker.

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August 31, 2022
Big Dollar Casino | Win A Car Dodge Challenger

Joy Ride: Win A Car Competition Sees 6th Winner!

Big Dollar Casino is at the forefront of satisfying every player’s needs with jackpot infused slots and bigger bang for your buck matches. No wonder we’ve been around for a whopping 21 years! In honor of our 21st Anniversary, we went huge so 6 of our players could bring the ultimate in prizes home…. A NEW car! With our most recent being a $38,000 Dodge coupe. The question is, how can YOU win?!

The Year of Car Giveaways

Why buy a car when you could win one? It sounds good and is easy to do if you play at Big Dollar Casino. Since 2021, 6 players have ridden off in new rides thanks to our Win a Car competition. Our 1st car for the taking in January 2021 was a Ford Mustang proudly won by joncgross. The epitome of a ragtop, a Chevrolet Camaro Convertible was the 2nd giveaway won in July by Bigddawg. Putting pedal to the metal for the 3rd was wassy606 who won a sleek Lincoln Corsair in October. A Jeep Wrangler was the 4th car won in January 2022 by Dafo, while MD won the 5th, a Dodge RAM this April.

In celebration of our latest winner, clap hands for McCormick89 who’s driving the highways and byways in our 6th car, Dodge Challenger R/T!

Win A Car Deets You NEED To Know!

These 6 exciting competitions ran for 3 months. During this time, every $50 deposit earned a ticket into the 21X $1,000 draws – one draw for each year we’ve been around – on Wednesdays and Saturdays. Due to popular demand though, there was a price drop of $50 to $25 which turbocharged our players’ drive to succeed! The 21 runners-up then got automatic entry into the final car giveaway draw. To say those 126 players from all 6 draws were on the edge of their seat with anticipation is putting it mildly!

Say ‘High Drive’ To Our Dodge Challenger Winner

Congrats McCormick89 from San Francisco! He put his money where his mouth was with his $25 deposits, and won this impressive ride on 22 July. You too can be like McCormick89 and win our 7th car which will get your motor revving… A $41,000 2022 Mustang GT Premium Fastback!

This muscle car can be yours with only a $25 deposit. All you need to do is take advantage of the generous Big Dollar casino promotions happening regularly. We also have monthly large-scale promotions where exotic trips, over $100,000 in cash prizes, and thousands in vouchers can be won. Just visit Promotions and check out our Royals of Rock and their iconic prizes, or take winning shots with 4 Hours of Happy Hour, or enjoy a Payday Payout.

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Ticket collections for the Mustang GT Premium Fastback have begun! Spark with your $25 deposits because the 1-21X $1,000 draws start 13 August. Come out tops and your name instantly gets added into the grand car draw on 22 October!

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August 31, 2022
July Gaming Win for Operators in Nevada Hits $1.3B

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Gaming operators in Nevada reported strong revenue for July, judging by details released by the gambling regulator.

NGCB Unveils Financial Results for July

On Tuesday, the Nevada Gaming Control Board (NGCB) released the financial results for licensed operators showing that the gaming win in July hit $1.3 billion. Although this was a strong result which marks the 17th month in a row with gaming win above $1 billion, a year-over-year comparison for the same period shows a slight 3.2% decrease. Despite the slight decrease when compared year-over-year, the gaming win last month increased when compared to the pre-pandemic period. In July 2019, the gaming win halted at $1 billion, while back in July 2018, it hit $995 million.

A breakdown of the results shows that the gaming win for Clark County operators hit $1.1 billion last month. When compared to the $1.2 billion reported for the same period in 2021, a slight decrease of 3.3% is observed. What’s more, the gaming revenue this July did not surpass the $860 million reported for pre-pandemic July 2019.

Downtown Operators’ Revenue Plummets

The NGCB provided a further breakdown of the gaming win reported by Clark County operators. Not unexpectedly, Las Vegas Strip operators reported the highest gaming win last month. In total, the gaming win for Strip operators was $773.4 million, down 2.4% when compared to the $792.6 million reported for July last year. Although July was a strong month for Strip operators, this was not the case for Downtown operators. Last month, the gaming win reported by Downtown gambling venues was $60 million, down 15.6% when compared to July 2021.

Operators located within North Las Vegas reported $24.6 million in gaming win, marking nearly a 4% decrease when compared to the same period last year. On the bright side, Boulder Strip operators saw $72.7 million in gaming win last month. When compared to July last year, this result marked a 3.6% increase.

Gaming licensees located within Washoe County reported $94.8 million in gaming win for July. That result marked a slight 5.3% decrease when compared to the $100 million in gaming win reported for the same period in 2021. South Lake Tahoe operators reported $31.8 million in gaming win last month, while Elko County’s gaming win increased to $36 million.

According to the NGCB, the state collected $90.4 million in taxes based on the taxable revenues generated by gambling operators in July 2022. When compared to the $97.7 million in taxes collected in July 2021, a decrease of $7.3 million or 7.48% is observed.

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August 31, 2022
Intralot Posts H1 2022 Report, Revenue Reaches $204.8 Million

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Intralot has posted its H1 revenue report which states that the company’s revenue reached €204.8 million ($204.8 million), which is a 1.1% YoY increase. EBITDA also reached €55.1 million ($55.1 million), which is a 1.4% increase.

Lottery Games Remain the Group’s Largest Revenue Generator

According to the report, lottery games were responsible for 64.1% of the generated revenue, making them the highest contributor. Sports betting came in second with 15.7%, VLTs had an 11.2% share, technology contracts had 8.6% and racing’s share was 0.4%.

Even though Malta’s operations resulted in a 6.7% lower YoY revenue, Croatia, Australia, and Argentina all recorded higher revenue. US operations also recorded lower revenue, but the merchandise sale in H1 of 2022 was higher.

Total operating expenses in H1 of 2022 reached €49.4 million ($49.4 million), which is a €3.9 million ($3.9 million) increase compared to H1 of 2021. Moreover, the operating cash flow of the company was €41.4 million ($41.4 million) which is €9.9 million ($9.9 million) lower than the same period in 2021.

As of June 30, 2022, the company’s net debt stood at €508.7 million ($508.7 million). Compared to the 2021 end-year, it increased by €11.5 million ($11.5 million). The report notes that the increase in debt is a result of the adverse FX impact on the company’s USD-denominated debt.

Sokratis P. Kokkalis, the chairman and CEO of Intralot, shared a few thoughts on the report. He stated that the company’s strengthened financial profile can be seen in the report and added that Intralot will “pursue new opportunities” that will allow it to grow.

Intralot Is Looking To Build Up on the Success in FY2021

The 2021 fiscal year was quite successful for Intralot as the company reported a 20% YoY increase in revenue ($414 million). The operating cash flow of the company was $107.6 million which was a whopping 141.9% YoY increase.

Back then, Kokkalis noted that one of the key milestones for the company was the Capital Structure optimization in August. That provided Intralot with a lot of opportunities in the US and worldwide for the upcoming years, especially in the lottery, sports betting, and monitoring sectors.

Most recently, Intralot announced amendments to the lock-up agreement that was reached in 2021. A new loan facility worth $175.6 million was agreed and it is set to optimize its balance sheet.

The company’s expansion mission resulted in a partnership with NeoGames, thanks to which iLottery and sports betting offers in Brazil will be boosted. The CEO of NeoGames, Moti Malul, stated that the operator will provide Minas Gerais online sports betting and lottery players with “an exceptional online gaming experience.”

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August 31, 2022
Mido Lotto Makes a Foray into Montana

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Mido Lotto, a lottery ticket app, has forayed into the state of Montana. Local lottery enthusiasts can now use the app to buy tickets for some of the most popular games.

Mido Lotto Launches in Montana

Mido Lotto allows customers to purchase tickets for Mega Millions and Powerball through their mobile devices. This makes lottery games very convenient to enjoy as it provides customers with a degree of freedom and flexibility. In addition, it allows players to gift tickets to their friends and share the joy of playing the lottery.

The app is now live in Montana and allows local players to benefit from the convenience it offers. Local players can download the Mido Lotto app on their devices and play. They can also use the app to withdraw winnings of up to $600. Lucky players who end up winning larger amounts will receive physical tickets that will be safely delivered to them.

Mido Lotto celebrated the lunch in the Big Sky Country by providing a free lottery ticket to all people who join its platform. In addition, the app’s parent company, Lottery Now, is committed to supporting local causes and institutions.

Local Customers No Longer Need to Worry about Tickets

Lottery Now’s chief executive officer, Kevin Kramer, spoke about the launch. He shared that his team is excited to provide people in the state with a “safe, convenient and legitimate” way to play lottery games. Kramer praised the Montana Lottery for funding important state programs for the last few decades and is excited to become a part of this ecosystem.

Kramer also noted that Mido Lotto tends to attract new customers and will, therefore, provide more money to good causes.

Mido Lotto attracts mobile customers who typically don’t play the lottery the way it’s currently offered, which means more contributions going to worthy causes such as public education, safety and health programs.

Kevin Kramer, CEO, Lottery Now

Lottery Now’s president, Rich Wheeler, also shared his thoughts. He emphasized that players who wish to play the lottery no longer have to worry about missing a draw or misplacing a ticket. Thanks to the Mido Lotto app, lottery players can conveniently keep track of their tickets and claim their winnings.

Now busy Montanans can enjoy the time-saving convenience of ordering tickets from anywhere in the state – and not miss being a part of the excitement the Lottery brings. We’re looking forward to some big winners in Montana.

Rich Wheeler, president, Lottery Now

A few months ago, Jackpocket also launched its lottery app in the Big Sky Country.

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August 31, 2022
IPI Surprisingly Saves Its Saipan Casino License Yet Again

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Yet again Hong Kong’s Imperial Pacific International (IPI) miraculously managed to keep its casino monopoly license for its operations at the Imperial Palace Casino in Saipan. This time with the help of the District Court for the Northern Mariana Islands, which issued an injunction in connection with IPI’s ongoing dispute with the Commonwealth of Northern Mariana Islands Casino Commission (CCC).

IPI Still Manages to Keep its Saipan License

IPI has been barely holding on to its exclusive Saipan license for years but it turns out the company still has some unused ammunition in its bag of tricks. This time it has referred to its right to arbitration regarding the continuing dispute between the company and the CCC, which has been struggling to revoke the Hong Kong-based firm’s Saipan casino license.

Judge Ramona Manglona has granted permission for arbitration so the next step is for the American Arbitration Association (AAA) to help IPI and CCC resolve their ongoing dispute.

The Hong Kong-based casino operator and the regulator are yet to determine together with AAA the exact dates for the arbitration proceedings.

IPI Has Been Piling Debts Since 2020

The regulator suspended IPI’s license back in May 2021 on the grounds of mounting debts. The Hong Kong company had not paid its license and regulatory fees for 2020 amounting to $18.6 million, it failed to adhere to the minimum capital requirements, and it did not make any of its compulsory contributions to the fund benefiting local communities for the period 2018-2020.

Consequently, more debts piled up with the company failing to cover its license and regulatory fees for 2021. It does not seem likely that IPI is going to pay what it owes to the CCC for 2022. This brings the company debt to somewhere around $103 million.

Additionally, IPI has also failed to pay a number of vendors for renovation work performed on the luxury Imperial Palace Casino that the company operates in Saipan.

No Sign of the Promised Financing of $150 Million

Back in June this year IPI managed to postpone court proceedings in connection with the revocation of its exclusive Saipan casino license by convincing the US District Court judge that it has secured financing of $150 million from South Korea-based IH Group.

The financing was expected by the end of June and was supposed to cover the major debts of the casino operator. However, IPI received only a little fraction of the promised funds and has still been unable to pay its dues to the CCC and numerous vendors.

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August 31, 2022
Lucky Creek Casino – 200% Deposit Bonus up to $1000
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August 31, 2022
Macau Lifts International Travel Restrictions, Quarantine Remains

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Macau finally has some good news to announce. International borders in the Special Administrative Region will be reopened starting on Thursday. This comes after almost two full years of shuttered borders which began in early 2020, blocking the outside world from accessing Macau.

Macau Tries to Live with Covid-19

A total of 41 country non-residents will be welcomed back, including to casino gaming floors in the SAR, although they will all have to undergo a seven-day quarantine which is non-optional as of right now. The news was confirmed by Macau chief executive Ho Iat Seng who issued Executive Order No. 166/2022 which now allows visitors from whitelisted jurisdictions to come.

South Korea, Japan, and the United States are all on the list. Arrivals will have to also undergo a COVID-19 test while in isolation during the seven-day period. Border patrol will also have to see proof of booking for a hotel where the isolation and quarantine will take place. Lifting the restrictions for international travel, non-ideal as it is, is likely to incentivize overseas travelers to some extent.

While casinos cannot expect a huge upsurge in visitors, they can definitely hope for incremental improvements over the next months. Macau is at the forefront of what could be a shift from China’s harmful zero-COVID-19 policy, with the quarantine period potentially lifted in the foreseeable future or reduced.

International travel back to Macau is important as well. As mentioned before, casinos and local businesses need overseas travelers – and specifically non-Chinese. Beijing has been very particular about casinos attracting foreign visitors who can spend their money on gaming floors.

But before any meaningful recovery may begin, there will have to be a surge in visitation to Macau. Based on the annual available data, visitors in Macau in 2019 reached 39.4 million people. For the half year in 2022, there have been hardly 3.5 million visitors. Macau is building itself as a fortress against COVID, though, with vaccination efforts ongoing and Beijing trying to get more people to undergo vaccination.

Vaccines will also be available to foreign travelers, but they will have to pay up $125 to have the jab on-site in Macau.

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August 31, 2022
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Also sometimes referred to as playthrough requirements, these are essentially the Terms & Conditions of the casino bonus online you want to take advantage of. To protect ourselves against unscrupulous players who are interested only in taking the money and running, we’ve had to put a few rules in place.

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Phone number abroad: 888 595 5835

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August 31, 2022
Matt Wilson Announced as Light and Wonder Interim CEO

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Since Scientific Games was rebranded to Light & Wonder, the company has been hitting the news cycle regularly, and pretty much almost all of the rounds it made were with positive headlines. It seems that the change in its top executive position is also a signal that things are running smoothly and according to plan. The plan is tremendous growth, of course.

Right Change, Right Time

Light & Wonder (LNW) issued a trade release on August 30, outlining the change in its leadership. The company is now easily considered a global leader in cross-platform games, spreading over multiple continents and providing over 5,000 jobs. As per the announcement, which can be found on LNW’s website, as well as the original on Business Wire, Barry Cottle has stepped down as President and CEO. His replacement as the interim chief executive officer will be Matt Wilson – the company’s executive vice president and group chief executive of gaming. As Cottle is still a member of the company’s Board of Directors, he’s going to be available as a consultant for the transition, which is itself a part of a well-planned succession process. The company is looking both within and without for talent to take the position permanently.

Matt Wilson commented he was “honored to take on the role of interim CEO during this exciting time” in the company’s history. The decision to make the switch at this time in its expansion seems to be generally accepted, as Executive Chair of Light & Wonder Jamie Odell has expressed: “As we enter the next chapter of our growth journey as the leading cross-platform global game company, we are confident that now is the right time to make this leadership transition.”

Bright & Wonderful Future

The “next chapter” that Mr. Odell mentioned is largely brought about thanks to a new strategy and financial planning, all heavily influenced by Matt Wilson’s vision for the company. 2022 has indeed been a very strong year for Light & Wonder. The company was rebranded to the new name from its old Scientific Games moniker and its 2022 history has been a busy one, although the beginning of the second half feels like has just begun. Internal personnel changes made the headlines just a couple of weeks ago when it was announced that Roxane Lukas will be taking the company’s chief people capability officer (CPCO) position, driving engagement and boosting performance. Former CTO Steve Beason was brought back to the company as President of Digital, as well. He has the experience and the knowledge to support the company’s expanding digital portfolio.

Labor, man- and brain-power are the driving factors of growth, but it’s financial results that sit at the bottom line, and the company certainly delivered, posting $610 million in revenue for Q2, which ended on June 30. This puts the company almost on track for its EBITDA of $1.4 billion, targeted for 2025, and of course, cutting down your debt by more than 50% definitely helps as well.

So, the company certainly seems to be headed in the right direction and is definitely updating its toolkit to get there. Maybe Mr. Odell’s “tremendous opportunity to drive shareholder value” isn’t just shareholder talk after all.

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August 31, 2022