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    Daily Gambling News Update | Friday, January 13, 2012

    Posted by Quad Jacks March 14, 2012

    FRIDAY, JANUARY 13, 2012: International Game Technology (IGT) buys out Facebook casino. A look at online gaming development in India. This week in rebranding – Yatahay and Victor Chandler.

    International Game Technology (IGT) buys out Facebook casino: International Game Technology, the manufacturer of approximately half of the slot machines in the United States, has announced it has reached a definitive agreement to acquire Double Down Interactive, a Seattle-based social gaming company which developed and operates the Double Down casino on Facebook, featuring games like blackjack, slot machines, video poker, and roulette.

    The sale will cost IGT a total of $500 million, to be tossed at Double Down in gradual fistfuls over the next three years, with a $250 million cash payment up front. Several members of both companies congratulated themselves and each other in an IGT press release, with some backs reportedly slapped.

    In November of last year, eGaming Review reported that Facebook is on the way to licensing up to eight UK gaming companies to provide real money gaming via Facebook in the UK. One likely favorite to be licensed is 888 Holdings, to which IGT already provides some games. In May of last year, IGT also bought out the Swedish online poker network Entraction for $115 million.
    Sources: IGT [1] [2] [3], eGaming Review

    A look at online gaming development in India: An article on the Indian Broadcasting Network (IBN, a subsidiary of CNN) inspects the rise of “gaming” development in India, although it does not make any particular reference to gambling as a form of gaming. The country, already internationally famous for its programming and designing proficiency, is developing a greater interest in gaming technology, especially among university youth, who have unprecedented access to mobile and Internet devices (880 million total mobile devices in the country.)

    Gaming development courses and projects in Indian universities are on the rise. “This year we expect between 10 and 15 projects to come out of the classes we take for the students,” explains Kiran Kumar, director of Fortuity Infotech and professor of a course on game development at the Indian Institute of Information Technology (IIIT), Hyderabad. “Gaming in India has changed and more gamers check websites for new games. When students publish their innovations online, it reaches out to a large student community through social media… There are promising times ahead for students venturing in this field.”

    The problem is that gambling, both live and online, is severely restricted in India, with exceptions on lotteries and horse racing. The Public Gambling Act of 1867 forbids the operation of a “gaming house” or casino (only the states of Goa and Sikkim are exempt). Two additional laws from 2000 and 2011 heavily restrict online gambling. However, illicit gambling all across India is widespread, to the estimated tune of $30 billion a year.

    There have been attempts, mostly driven by international gaming companies, to introduce more permissive gambling legislation in the country, but these “have been met with indifference for the most part. Infrastructure must become stable there in order for the system to work and until that funding has been put in place the Indian population will have to continue to access offshore sites.”
    Sources: CNN-IBN, Public Gambling Act 1867, The Independent, DingNews

    This week in rebranding – Yatahay and Victor Chandler: The Yatahay poker network, home of online poker skins True Poker and Fab Poker and most recently America’s Card Room, has rebranded itself as the Winning Poker Network, effective January 12, 2012. The US-facing Yatahay network was among the operators targeted by a domain seizure in May of last year by the U.S. District of Maryland in a shutdown dubbed “Blue Monday,” which forced many of the prosecuted sites to relocate their domains to .eu and .ag (Europe and Antigua).

    Genuine branding concerns and marketing ambitions, rather than legal worries, are what prompted another online betting parlor, Gibraltar-based Victor Chandler, to rename itself BetVictor, perhaps in an effort to retain or increase visibility in an arena populated by Bet-prefixed competitors. According to a company press release: “The decision to change the brand name is to ensure consistency and instant recognition across all international markets. BetVictor is already successfully running across Europe, and will now be the banner under which the UK operation trades.”
    Sources: Pokerfuse, Victor Chand… ehm, BetVictor

    QuadJacks – Friday, January 13, 2012

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