Asian casino operator, NagaCorp, reported Monday that its Cambodian integrated resort, NagaWorld, recorded a US$117 million handle in Q1 2023. The gross revenue level generated from the resort in the three-month period is 6.8% higher than the level achieved over the same period last year.

Increased GGR from Naga World:

The increased handle is reported despite the poor performance of both the mass market and Premium VIP segments, but the adjusted EBITDA of US$59 million remained at the same levels as those seen in 2022 for this reason. Although the mass market volumes arrived at 81% of pre-COVID levels with table buy-ins amounting to $9.77 million, table games win rate fell from 19.6% to 16.8% and resulted in gross generated revenue of $76.6 million, which was 3.9% lower in Q1 2023 than the same period last year.

Likewise, NagaWorld’s Premium VIP (direct VIP) segment grew significantly in Q1 2023 in comparison with the previous quarter and achieved a turnover of $10.8 million. The figure representing a 43.9% year-on-year growth  “may be due to [the company’s] successful conversion of previous referral VIP players into direct Premium VIP players,” as NagaCorp reportedly suggested.

Table Games and Premium VIP Win Rate Fell:

The daily handle of the segment reached 90.2% of pre-COVID levels but – like table games – the segment win rate fell from 4.3% to 3.5% on a year-on-year basis to generate $28.6 million gross gaming revenue, which was 11.9% higher in the first three months of 2023 than the same period in 2022. Unlike the Premium segment, Referral VIP recorded a 118% higher daily turnover to generate a total of $11.8 million in revenue which is a figure as much as 176% higher than the revenue generated from the Naga World venue in Q1 2022.

Referral VIP Segment Soared:

As Inside Asian Gaming reports, NagaCorp said: “The Company witnessed the increasing headcounts of the Referral VIP Market, especially from our neighboring countries such as Thailand, Malaysia, and Singapore. We will continue to develop the Referral VIP Market by identifying and recruiting more reputable referral VIP agents.”

Return of International Visits:

Based on the Q1 2023 financial result, the company understands that the Referral segment performed much better than the Premium segment as a large turnover may often be expected from a huge number of small bets rather than a small number of huge bets which may lower the win rate. The company recognized the return of international visitors to Cambodia as a key factor for NagaWorld’s improving figures and expects that the gradually rising visits of Chinese players will further boost the revenues in the resort.

The company reportedly said: “As China only effected Cambodia’s Approved Destination Status on 6 February 2023, the management believes that the recovery of Chinese tourists visiting Cambodia is in its early stages.”

With a ruling party super-majority in the Parliament of Hungary, simply pulling the levers of powers should be enough to move any desired legislation through the political process in a normal and legal manner. However, for well over 2,500 days now the government has used that absolute majority to do some things without transparent debate or utilizing other hallmarks of liberal democracy – instead relying on simple decrees to accomplish the State’s business.

That’s not to say that the emergency powers completely constipate the government, as can be seen in the online gambling industry through the lens of the country’s Gambling Act – something Hungary has been “trying to get right” since the Court of Justice of the European Union (CJEU) issued rulings in 2016 and in 2017 which should encourage the government to come into compliance not to infringe the freedom to provide services (Article 56 TFEU) or grant non-competitive concessions.

The Supervisory Authority for Regulatory Affairs (SZTFH) has recently issued a decree implementing minor changes to allow amendments to the country’s Gambling Act to function more fairly or efficiently.

Technical Clarifications, Fees

Operators who wish to offer online sportsbetting there must meet certain financial requirements and prove up at least five years of experience offering licensed online gambling services in a European Economic Area state. Any operator who has offered unlicensed gaming within five years of the dated application will be rejected from consideration for a license.

In an attempt to protect bettors from harm, operators will be able to offer early cashouts on sports betting wins but the operator must warn the player about the immediate gratification of such an action as it could contribute to gambling addiction.

The decree reads: “The gambling operator is obliged to expressly draw the player’s attention to the fact that the use of this function entails an increased risk of excessive gambling and addiction and this information shall appear in the text of promotion in the same font size as the text.”

It continues: “The gambling operator shall also make available to the player on the gambling website the information that the use of that function entails an increased risk of excessive gambling and addiction.”

In order to facilitate early cashouts bettors will now be allowed to have segmented account balances rather than one master balance.

Early cashouts are subject to any regular terms and conditions of other withdrawals.

Recent History of Changes

Early last year, legislation was introduced to help Hungary come into compliance with anti-monopoly measures that should promote a more free and open market as many nearby EU states have done. At the dawn of 2023, several conditions or technical changes were made that could apply to casino operators as well as sports betting providers.

However, none of the changes loosen the hold on remote casino licenses that are still tethered directly to the three main land-based operators. While the CJEU ruled in Unibet’s favor in 2016, ostensibly opening the door to other European online casino operators, the land-based casinos can be declared a priority of national economic interest. This allowed budget items in the 2021 work sessions to grant 35-year extensions to the casino licensees without a public tender process.

The workaround used, according to local democracy watchdogs was to re-allocate the concessions as at least half of the original concession period had come to pass. This was purported to assure the state continuity in revenues for the long term.

A government-connected stakeholder in Las Vegas Casino group is operated by Diamond Játékaszinó Üzemeltető Kft. (LVC Diamond), the most important urban casino operator was originally granted a concession in 2015 that was set to expire in 2024 but now extends to 2056.

Our research does not find any mechanism in legislative accomplishments or decrees that would untether online casino licenses in Hungary from land-based operator licenses so it would appear as if at least one operator is locked in.

The LVC Diamond properties include The Atlantis, Atrium Eurocenter, Corvin Promenade, Sofitel, and Tropicana casinos.

Tax Authority Retaliated Against Operator for Lawsuit

One thing the Unibet lawsuit did accomplish was to tease out a CJEU ruling that recognizes Hungary’s online gambling rules did not allow the taxing authority to take retaliatory actions against other EU-licensed operators as it did in response to Unibet filing suit. Those actions included ordering ISPs to block access to the site and the levying of fines against the operator and its parent company, Kindred Group.

In short, while the process for licensing land-based casinos and thus their tethered counterparts online may not be in line with EU standards, there isn’t much, if anything standing in the way of a Malta Gaming Authority-licensed casino offering services there.

So far, SZTFH has not authorized any foreign operators to offer sports betting with all regulated consumer traffic still flowing through Tippmixpro.hu – operated by the former and still a de facto monopoly of Szerencsejáték Zrt.

Source: Hungary regulator implements new Gambling Act amendments, iGaming Business, March 29, 2023

The post SZTFH Decree Massages Hungary’s Online Betting Operator Rules appeared first on Casino News Daily.

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Baseball is more than just a sport. It’s a source of pride and identity for millions of fans across the US. These fans are deeply passionate about their teams, and this passion can sometimes lead to intense rivalries and alliances between different fan bases. 

With the new season of Major League Baseball underway, we figured there’s no better time than the present to revive the age-old debate: Which MLB team has the best fans? The problem with this question is bias. Ask a Cardinals fan, and they will tell you that the Cardinals have the best fan base. 

Casino.org has surveyed over 5,000 MLB fans, and specifically asked, outside of your own, which other baseball team has the best and worst fan base? From this, we have been able to determine the most and least popular fans across the league.

The Results

Stick with us as we will also cover the subject of tax on gambling wins and even review the online gambling options in the Picture State. Many more interesting details await, so let’s not waste any more of your time and start with the official NB gambling laws.

Details on the Gambling Laws in New Brunswick

Let’s first start by giving you a quick overview of the gambling laws in New Brunswick. In general, the residents of this province can freely gamble at any venue as long as it is licenced and regulated by the local authorities. The official gambling regulator in New Brunswick, according to the Gaming Control Act is the New Brunswick Lotteries and Gaming Corporation (NBLGC).

Of course, there is even a higher level than the NBLGC, which is the Gaming, Liquor and Security Licensing Branch, which oversees all of the provincial regulators and manages the licensing procedures. So, as long as an operator has a Canadian licence, NB punters can enjoy both land-based and online venues, such as casinos and sportsbooks.

The NBLGC

As we mentioned earlier, according to the Gaming Control Act and specifically section 207, each provincial government can manage gambling activities on a local level. In the province that we are covering today, the main regulatory body is the New Brunswick Lotteries and Gaming Corporation (NBLGC).

New Brunswick Legal Gambling Age

In general, the age required to gamble in Canada can range between 18 and 19, depending on which province is in question. In order to enjoy any form of gambling, even social gambling, in New Brunswick, you will have to be at least 19 years old.

History of the NB Gambling Laws

New Brunswick is a Canadian province with a relatively short history regarding gambling and its legislation. The first major regulation that was accepted in NB was the New Brunswick Lotteries Act in 1976. Under this act, all lotteries were organised, conducted and regulated by the New Brunswick Lotteries Commission.

Up to 2007, all other forms of gambling were either illegal or strictly regulated. In 2008, the Gaming Control Act was accepted. With it, new regulations were introduced to the Canadian gambling laws and the responsibility of regulating gambling activities was passed down to the local governments. This gave New Brunswick the opportunity to take full advantage of these changes and legalise all forms of gambling.

Along with the Gaming Control Act, the New Brunswick Lotteries Commission was split into two entities. They are the New Brunswick Lotteries and Gaming Corporation (NBLGC) and the Gaming, Liquor and Security Licensing Branch (GLSLB). The management of lotteries was passed over to Atlantic Lottery, which is a crown company formed by four different Canadian gaming agencies.

Gambling Activities That Are Legal

As we have mentioned multiple times up to this point, according to the gambling laws in New Brunswick, nearly all forms of gambling are legal in the province. You can go to one of the brick-and-mortar casinos or sportsbooks and play as much as you want. Of course, you will need to be at least 19 years old to do so.

As you can see, nearly all forms of gambling are legal in NB. There are four land-based casinos in the province, which can provide gamblers with various opportunities to win great rewards. A great example is the popular Casino New Brunswick. There are also various Canadian First Nation casinos in New Brunswick that can also be visited.

Taxes on Winnings in New Brunswick

There are no taxes on winnings in New Brunswick. The only exception is the professional gamblers. This is excellent for players in NB, as long as they are not professional gamblers, they will be paying no national taxes on their wins. Of course, the province itself can apply their own taxes, but that is not the case for New Brunswick.

The New Brunswick Online Gambling Laws

Although we have mentioned earlier that online gambling is legal in the province, we would like to elaborate more on the subject. Only licensed and regulated by the state online gaming activities are legal. This would suggest that off-shore operators are out of the picture, but that is not the case.

The New Brunswick online gambling laws are not specific regarding off-shore online casinos and sportsbooks. NB players can still join them and play and take advantage of the no-tax-on-winnings policy. Here is a short list of the online gambling activities that you can partake in:

The New Brunswick online gambling laws state that an operator must be licensed and regulated. This means that you should ensure that the gambling site you are joining has a licence and the appropriate certificates before joining. Of course, you can pick any of the best online casinos in Canada, but we would still like to give you some hints.

If you like an operator, you should confirm that it is licensed by a reputable international organisation, such as the UK Gambling Commission, Malta Gaming Authority or even Kahnawake Gaming Commission. They have strict regulations that will ensure your safety. Speaking of that, you should also double-check if the website has SSL encryption and secure payment options.

Future Changes of Gambling Laws in NB

Unfortunately, there are no future updates to talk about. All provincial governments that have been given the opportunity to manage their own gambling laws as per section 207 of the Criminal Code have mostly legalised all forms of gambling. This is the case for New Brunswick, where an official regulator and a licensing organisation exist. Of course, if anything changes with the gambling laws in New Brunswick, we will cover it as an update.

Final Thoughts

In order to finalise our overview of the gambling laws in NB, we will shortly summarise the information. In Canada, each provincial state has the opportunity to manage its own gaming legislation. According to the New Brunswick gambling laws, all forms of gambling are considered legal, as long as they are regulated, and the operators hold a licence.

We would also like to mention the New Brunswick online gambling laws, which do not specifically exclude off-shore operators. This allows NB players to enjoy some of the best New Brunswick casino sites. Always ensure that an operator is licensed and regulated.

Frequently Asked Questions

In this section, we would like to showcase the most popular questions that players from the Picture Province have regarding the gambling laws in NB. Checking out each answer will help you further improve your knowledge on the subject. If there are any other questions that you may have, feel free to contact us.

WWE and UFC under same ownership

World Wrestling Entertainment, Inc. (WWE) is expected to be sold to UFC parent Endeavor Group, which reportedly values it at $9.3bn.

headed over to the control of Endeavor, which purchased UFC in 2016

America’s favorite wrestling federation has been under the direction of the McMahon family since it was founded under the name Capitol Wrestling Corporation in 1953. It is now headed over to the control of Endeavor, which purchased UFC in 2016 and will have a 51% stake in the company. 

Ari Emmanuel, CEO of Endeavor, is expected to assume the lead of WWE in both the short and long-term. Vince McMahon will remain in place as an executive chairman, according to reports.

End of a long reign 

McMahon, 77, separated from WWE in 2022 amid accusations of sexual assault and making under-the-table payments. He returned on January 10 to help steer the company and ultimately lead to its sale.

The longtime WWE owner said that he believes Endeavor’s history of growth makes them an ideal candidate to sell to.

I believe that this is without a doubt the best outcome”

“Given the incredible work that Ari and Endeavor have done to grow the UFC brand – nearly doubling its revenue over the past seven years – and the immense success we’ve already had in partnering with their team on a number of ventures, I believe that this is without a doubt the best outcome for our shareholders and other stakeholders,” said McMahon. 

Despite the acquisition, WWE CEO Nick Khan is expected to retain his place in the company. UFC president Dana White will also be unaffected by the new addition to Endeavor’s portfolio.

WWE and UFC’s combined valuations reach a staggering $21.4bn. Now that they are under the direction of the same owner, the possibilities are limitless.

“This is a rare opportunity to create a global live sports and entertainment pure play built for where the industry is headed,” said Emanuel. “For decades, Vince and his team have demonstrated an incredible track record of innovation and shareholder value creation, and we are confident that Endeavor can deliver significant additional value for shareholders by bringing UFC and WWE together.”

Fitting showmanship 

WWE has usually prioritized theatrics in creating its scripts. Fighters have jumped off a steel cage to bodyslam their opponent, people in wheelchairs have been shoved down flights of stairs, and metal chairs are regularly used to batter athletes in the head.

But seemingly more so than ever before, WWE has been focused on generating viral moments recently. The latest example came at WrestleMania 39 Sunday when Logan Paul jumped off the turnbuckle and drove his PRIME sports drink business partner Olajide “KSI” Olatunji, dressed in a full-body PRIME suit, through a nearby table.

At the same event, Snoop Dogg seemed to improvise a stunt-gone-wrong after Shane McMahon tore his quad muscle by punching, dropping the people’s elbow on, and eventually pinning pro wrestler The Miz.

All of that fits in great with what is going on in the UFC and in White’s new Power Slap league.

Power Slap has repeatedly gone viral for its brutal strikes and reactions from the public

The UFC recently welcomed all-time great Jon Jones back into the ring for a world heavyweight title fight with Ciryl Gane, which the former won via first-round submission. Meanwhile, Power Slap has repeatedly gone viral for its brutal strikes and reactions from the public, matching the intrigue of WWE. 

WWE’s television deals with FOX and NBC Universal both expire next year, at which time Endeavor will have a major opportunity to set the course for the company’s future.

The post The New Era of Combat Sports: UFC Parent Group Purchases WWE in $9.3bn Deal appeared first on VegasSlotsOnline News.

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On March 30, Red Tiger, an internationally acclaimed developer of HTML5 casino games based in Douglas, Isle of Man, and officially owned by Evolution Gaming, released Wrigley’s World, a dystopian, post-apocalyptic slot that follows Wrigley, a clever goblin with an interest for all things mechanical.

In this game, players get a unique opportunity to be Wrigley’s guests.

Outstanding visual:

True to its title, the main theme of the game is Wrigley and his world, which is equipped with all kinds of gadgets lying around in his workshop, where the goblin can have peace and quiet while rummaging around. The video slot takes place in Wrigley’s garage, where each mechanical thing can come to life. Wrigley can be found on a platform to the left of the reels, with a crane located behind him.

The game is equipped with 243 winning ways.

To win, players must form a combination of 3 or more matching symbols on adjacent reels, beginning with the first reel from the left on a dynamic 5×3 grid.

The basic low-value symbols are 10, J, K, Q and A, while the high-value bonus symbols are the tire lock, wrench, exhaust pipe and trophy. A combination of five-of-a-kind low-value symbols is worth 0.4x and 1.2x a player’s bet, rising to 3x and 10x for five-of-a-kind high-value symbols.

The game has high volatility, with an RTP of 95.71% on regular betting and a maximum win of 20.023x a player’s bet. Moreover, there are other versions of RTP, depending on how the game is played, of 90.71%, 92.71% and 94.69%.

This slot can be played on any device, and players’ paid spins can be gambled for 10 p/c up to 4 euro/$ per spin.

Slot features:

Wild Symbols – Wilds can only appear on reels 2,3 and 4, replacing all basic symbols and doubling the payout. Each time they appear, they come with a x2 ways multiplier, meaning they count as 2 symbols and when they appear in Free Spins, each one of them is collected on a meter by Wrigley.

There’s a chance for up to 5 of them to appear in one spin, which doubles the current winning total and rewards the player with 5 additional spins if the player collects them.

Race Spins – a combination of 3, 4 or 5 Scatters, displayed in a car by Wrigley, rewards 5x, 15x and 50x a player’s bet and 10 Free Race Spins and also activates the feature.

This reward is moved into the feature as its starting payout.

Throughout the feature, when a Wild appears, it is collected by a gauge located next to the reels. When the gauge fills up, aka when 5 Wilds are collected, the Double Boost is activated, which doubles the player’s current win and rewards 5 additional spins. However, if a win happens on the same spin as the gauge fills, the reward is first applied to the total amount of the win before it is doubled.

The gauge can be filled many times in the same round.

Moreover, the feature ends, when the maximum number of spins or the maximum win of 20,023x a player’s bet is reached.

Bonus Buy – in this feature, Race Spins can be purchased for 70x of the bet with the same default RTP of 95.71%.

Commenting on the launch, Nicholas Peters, Chief Business Development Officer – Europe at Evolution, said: “The Red Tiger team have once again created an excellent game. In addition to the slot’s thrilling features, Wrigley’s World introduces a novel character, skillful scrapyard goblin engineer Wrigley. The atmospheric graphics and soundtrack of Wrigley’s World will entertain players as they take part in this wild junkyard race with wins of up to 20,023x!”

Intro

Las Vegas might be one of the most unique but also most written about travel destinations. When doing research for your upcoming trip, what you might end up stumbling upon is a list of typical tourist attractions that may or may not be worth the hype.

Well luckily, I have been to Las Vegas quite a few times, so I am here to share some first-hand insight and knowledge into the best places to check out during your stay that you may not have read about!

There is so much to explore when you visit one of the biggest gambling capitals in the world, and thankfully no two trips are ever the same. So, if you are haven’t been there before or even if you’re an annual traveller to the crazy world of Last Vegas, I am here to share my Top 8 things for you to explore on your next voyage!

#1 Get Married at Taco Bell!

You may have heard of eloping to Las Vegas. Maybe even getting officiated by an Elvis impersonator. But in case you and your partner had a love for tacos or anything fast food adjacent, you can in fact book yourselves a wedding at the upstairs area of Taco Bell!

The gift package includes some of the company’s most popular sauces in a bouquet as well as custom wedding swag! If you wanted a unique experience for your nuptials, why not eat a taco as you say, “I do!”

#2 Double or Nothing on Shows

Unless there is a specific show you want to see or a residency that is likely to sell out, book yourself some last-minute tickets at one of the stands on the strip the day of the performance. Most of these booths will have a deal if you book two or more shows, and you’re also likely to get better seats with this option!

These outdoor kiosks are trying to fill up last minute seats, so pop along as soon as they open and pick from the selection of daily shows on their boards. You can even make some friends or get some recommendations from fellow deal-hunters in the queue!

#3 Experience an Indoor Thunderstorm

Inside the Miracle Mile shopping complex underneath the Planet Hollywood hotel is an indoor thunderstorm! It rains into the shopping centre through a cloudy sky ceiling and even has sounds effects too!

It runs frequently throughout the day, so if you show up and you have just missed it, you can quickly pop over to Tipsy Robot and watch a robot make you a drink. Or perhaps you’d like an aqua massage (where you get massaged by water) as you wait for the next hailstorm!

#4 Walk until you find something bizarre

One of the most underrated things to do in Las Vegas is honestly just walk around. There is so much to just see walking along the strip and through all of the hotel lobbies (which are accessible to anyone, whether or not you have a room there). You’ll probably stumble upon a random art installation, a one-of-a-kind artefact, or a literal pink flamingo!

If you ever wondered what Michelangelo’s David looked like, there is a full-sized replica in Caesar’s Palace just standing on a pillar. You can see Sphinx statues, Pharaohs, and a diagonal lift in the Luxor. And many of the short-term exhibitions and attractions are seldom advertised, so just walk until you find an oddity!

#5 Watch someone sit on their own head

Quite literally though! If the thought has crossed your mind; you can actually see a person sit on their own head at any Cirque du Soleil production! The contortionists in Las Vegas are extremely flexible. Flexible to a point where you don’t understand what is going on!

And if you have been indulging in one of the 2-foot-long cocktails shaped like the Eifel Tower, you may start to question your own sanity! If weird and wonderful is your thing, check out one of the many Cirque du Soleil shows that take place daily throughout the Strip.

#6 Pool Party!

This is probably pretty self-explanatory, but you can’t go wrong with an adult pool party! Experience a day or night-time dance extravaganza with a DJ, a lightshow or even your favourite 00s rapper!

#7 Dig, Smash, and Throw Things

If you have some pent-up frustration or just want to try something new, then you can drive a bulldozer on a construction site, smash a demolition room, and throw axes. You might have to get in full gear in the heat, but it will be worth it to bang, chop and demolish some furnishings!

#8 Gamble

This one might be a little obvious, but it could take some planning if you have specific ideas about how you want to gamble in Las Vegas. If you are looking to experience a more upscaled version of gambling, enter a higher stakes game, or just decide which casino your want your Vegas gambling trip to situated at, have a look around before settling in.

There are traditional slots, virtual races, classic table games and some more avant-garde variations to look out for. It just depends on your preferences and how dedicated you want to get with it.

Play for Real Money Bets

…or if you want to live vicariously through this post and simply prefer the comfort of your own surroundings, head over to our lobby and sign in to play some Real Money bets.

And if you are registering for the first time and making your first deposit, you can claim your Welcome Bonus to try it out!

The post The Top 8 Things to Do in Las Vegas That You Haven’t Heard About! appeared first on Casino.com Blog.

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