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HEDGE FUND MANAGERS GET A VERY RAW DEAL

By on September 4, 2021

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share whatsapp HEDGE fund managers rightly feel they are being persecuted by creeping EU legislation, which is suffocating their industry. But Hugh Hendry, a Scottish fund manager at Eclectica Asset Management, may be suffering from a touch of hyperbole. In the latest issue of Bloomberg Markets he likens the plight of the humble hedgie manager to the persecution of gypsies under Nicolas Sarkozy in France.Hendry, who is often referred to as the most high-profile Scot in the hedge fund business, came into the public eye when he railed against government bailouts.His appearance on Newsnight was notable for his rant against the “socialists I meet when I travel first class”, who blame the hedge fund industry for the woes of countries like Greece needing to be bailed out.DOUBLE DIPCoinciding with the gloomy news that the economy has retracted 0.5 per cent in the fourth quarter, The Capitalist received an unwanted gift in the post yesterday.Commercial foreign exchange firm Moneycorp decided to celebrate the UK’s anniversary of exiting recession by reminding us how bad it all was… with a packet of Double Dip sherbet.The chemical treat was accompanied by an equally depressing note reading: “Celebrations are marred by concerns around impending spending cuts, inflation data and the possibility of a double dip recession. “The MPC pinned hope on a weak pound leading to an export recovery but 2011 looks a daunting prospect with a number of unanswered questions…”The biggest worry though, is the subliminal message the sherbet treat sent. There was one extra bag free; does that make it a triple dip? At least if the economy does collapse all over again, The Capitalist can get a nice big sugar high.STOP WINE-INGIf financial armageddon is nigh, it isn’t showing in Hong Kong.A wine auction over the weekend by Sothebys and Acker, Merrall & Condit raised a staggering $25m, with 100 per cent of the lots being snapped up. Prices ranged from market prices to 30 per cent premiums (although this is relatively conservative compared to the extraordinary Lafite sale of last year).Either the rumours of the economy’s death have been greatly exaggerated, or these guys know something we don’t and they are stocking up on all the good booze to drown their sorrows.ON THE PISTEPub chain JD Wetherspoon prides itself on its modest prices and for catering for all sorts. But staff at its flagship Marble Arch watering hole got more than they bargained for yesterday when in loped a towering, shaggy-haired customer with his right arm in a sling and addressing staff as if he owned the place.The customer eventually proved to be none other than Wetherspoon’s millionaire chairman Tim Martin making an impromptu visit.And as for his cast-enclosed arm? Martin was heard muttering something about an accident but no explanation was otherwise forthcoming.But suspicions are high that he might have been on the piste. KCS-content Tuesday 25 January 2011 7:28 pm whatsapp HEDGE FUND MANAGERS GET A VERY RAW DEAL Show Comments ▼ Tags: NULLlast_img read more

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Profit at Games Workshop down

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first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com GAMES Workshop – which sells the Warhammer series – yesterday said inexperienced staff failed to keep its tills ringing during the summer, triggering a 15 per cent fall in pre-tax profit to £6.7m for the six months to November.Mark Wells, chief executive of the table-top war games maker, said: “We made some changes to our staffing. We had inexperienced managers and we were a bit flat-footed.” Sales in the six months were down four per cent at £60m. The store usually has games being played in-store to explain the rules to customers. KCS-content Tags: NULL whatsappcenter_img whatsapp Profit at Games Workshop down Share Tuesday 25 January 2011 9:09 pm More From Our Partners Texas governor said he plans to strip the Legislature’s paybusinessinsider.comlast_img read more

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Iceland PM says debt repayment to start in summer

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first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap John Dunne Share whatsapp Thursday 14 April 2011 7:12 am Show Comments ▼ Iceland PM says debt repayment to start in summer whatsapp Iceland will begin making debt repayments to Britain and the Netherlands this summer, using funds raised from the sale of assets from one of its collapsed banks, the country’s prime minister wrote on Thursday.Icelanders last week rejected for a second time a plan to repay £3bn to savers in Britain and the Netherlands who lost money in a bank crash. Both countries said they would take Iceland to court.They had previously compensated their nationals who lost savings in online Icesave accounts owned by Landsbanki, whose downfall triggered an economic meltdown in the island nation of 320,000 people.In a letter on Thursday to the editor of Dutch daily Volkskrant, Johanna Sigurdardottir said that, irrespective of any court decision, Britain and the Netherlands would get paid from the sales of assets of Landsbanki, one of three Icelandic banks that collapsed in late 2008.“Payouts from the Landsbanki assets are scheduled to start this summer. These provide ample funds for the compensation that the Netherlands and Britain have paid depositors in their countries,” Sigurdardottir wrote.Economists have said failure to resolve the dispute could delay progress in easing currency controls, deter investment and weaken an already battered credit rating. Rating agency Standard & Poor’s warned on Wednesday Iceland’s debt could be downgraded to junk. Tags: NULLlast_img read more

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PASPA ruling: the market responds

By on August 24, 2021

first_imgSports betting Regions: US Gambling operators, sports leagues and organisations have responded to the Supreme Court’s overturning of PASPA. We round-up their perspectives Email Address PASPA ruling: the market responds Gambling operators, sports leagues and organisations have responded to the Supreme Court’s overturning of PASPA, with William Hill announcing it plans to launch in New Jersey “as soon as responsibly possible”. Yesterday (Monday), the federal ban on sports betting in the US was lifted by the country’s Supreme Court by a vote of 7-2. The federal 1992 Professional and Amateur Sports Protection Act (PASPA) had blocked states from offering regulated sports betting, with the exception of Nevada, as well as Oregon, Delaware and Montana. New Jersey campaigned for years for the ban to be withdrawn, highlighting the prevalence of illegal sports betting across the US as one of its main arguments. William Hill reacted positively to the ruling, with chief executive Philip Bowcock saying the company will now pursue its plans to launch sports betting services in New Jersey. “This is a landmark moment for sports betting and for William Hill,” Bowcock said in a statement. “Now, all attention shifts to the states, where steps have already been taken to prepare for this day. “Legalised sports betting means that consumers and sports leagues will have greater protection, states will benefit from the raising of taxes and there is the potential for over 100,000 jobs to be created.” Elsewhere, daily fantasy sports firm DraftKings, which went public this year with its plans to expand into sports betting should New Jersey succeed in its bid, is also eyeing up a swift roll-out. Jason Robins, chief executive of DraftKings, told Fox Business: “We’ll be ready; hopefully, we’ll be one of the first ones in. “Almost 80% of our customers today say they already bet illegally on the black market with sports; now we just have to convince them they are going to have a better time doing it with us. “When it’s regulated, we actually have rules around knowing your customers, making sure we have limits in place, making sure that people who want to self-exclude can self-exclude.” FanDuel, a rival of DraftKings, also issued a statement praising the decision and reiterating its plans to launch its own sports betting services. The statement read: “This decision allows us to bring the passion and engagement we have seen among our users to new and expanded marketplaces and create a sports betting product that fans will love.” Caesars Entertainment Corporation, which is already active in sports betting in Nevada, also hailed the news, with president and chief executive Mark Frissora saying: “The Supreme Court’s landmark PASPA ruling creates a golden opportunity to end illegal sports wagering once and for all by creating a well-regulated alternative that sports fans can trust. “As a result, we expect to be able to provide safe, exciting sports wagering experiences to consumers across the country, as we do today in Nevada.” However, there has been a somewhat mixed response from the sports leagues that had supported the expansion of legalised sports betting, but to also uphold integrity within their various competitions. The National Basketball Association (NBA) and Major League Baseball (MLB) had both stated their backing for a wider market but called for a refreshed federal framework to be out in place.NBA commissioner Adam Silver said: “We remain in favour of a federal framework that would provide a uniform approach to sports gambling in states that choose to permit it, but we will remain active in ongoing discussions with state legislatures. “Regardless of the particulars of any future sports betting law, the integrity of our game remains our highest priority.” MLB also said: “As each state considers whether to allow sports betting, we will continue to seek the proper protections for our sport, in partnership with other professional sports. “Our most important priority is protecting the integrity of our games; we will continue to support legislation that creates air-tight coordination and partnerships between the state, the casino operators and the governing bodies in sports toward that goal.” The National Football League and the National Hockey League also issued similar statements urging for federal law to be put in place, while the National Collegiate Athletic Association (NCAA) had been opposed to an expanded market and had urged the court to maintain the federal law. The NFL said: “Congress has long-recognised the potential harms posed by sports betting to the integrity of sporting contests and the public confidence in these events. “Given that history, we intend to call on Congress again, this time to enact a core regulatory framework for legalised sports betting. The NHL added: “The Supreme Court’s decision paves the way to an entirely different landscape – one in which we have not previously operated. “We will review our current practices and policies and decide whether adjustments are needed, and if so, what those adjustments will look like.”Richard Carter, CEO of sports betting platform provider SBTech, which entered a US strategic partnership with GAN earlier this year, said: “The Supreme Court’s decision is a historic day for the industry and we look forward to working closely with all stakeholders and helping shape an open and responsible environment for sports betting to flourish in the US, which addresses the needs of consumers, law enforcement, regulators, sports integrity, operators and technology providers.”Related articles: US sports betting ban overturned FanDuel outlines sports betting plans in US US sports betting ‘enormous’ opportunity – DraftKings CEOcenter_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 15th May 2018 | By contenteditor Topics: Sports bettinglast_img read more

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DraftKings strikes New York state sports betting deal

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first_img Regions: US New York Topics: Sports betting Tech & innovation DraftKings strikes New York state sports betting deal Launch date uncertain for online and mobile platforms via del Lago Resort & Casino 17th July 2018 | By contenteditor DraftKings has struck a deal with del Lago Resort & Casino that will lead to the daily fantasy sports operator launching a sportsbook via the New York state venue.Under the agreement, following the introduction of a physical offering at the casino in the town of Waterloo, both parties will be able to collaborate on launching a mobile sports wagering app and online sports betting service, pending the authorisation of such services by state legislators.However, iGamingBusiness.com understands that a target launch date for the online and mobile aspects of the sportsbook remains up in the air as the required legislation will not be considered until next year at the earliest after Andrew Cuomo faces an election in November to secure a third term as Governor.A spokesperson for del Lago Resort & Casino told iGamingBusiness.com that several potential partners were considered before DraftKings was selected and that it expects a “significant” impact as a result of the agreement.DraftKings CEO and co-founder Jason Robins marked the announcement by describing the state of New York as “one of the largest revenue opportunities for future sports wagering operators”.DraftKings started working on its sportsbook product a year ago, immediately following the Supreme Court’s decision to take up New Jersey’s challenge to the Professional and Amateur Sports Protection Act (PASPA).The Supreme Court ruled in favour of New Jersey against PASPA on May 15, sparking a flurry of activity across the sector.This is the second sports wagering partnership DraftKings has secured, having announced a similar partnership last month with Resorts Casino Hotel in Atlantic City, New Jersey. DraftKings expects to offer mobile and online sports betting in New Jersey by the start of the NFL season in September.DraftKings is reportedly seeking investments totalling more than $150m (€127m) to drive a major expansion into US sports betting and in June the DFS provider announced a multi-year partnership with Kambi under which the latter will provide the operator with sports betting technologies and services.center_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Sports bettinglast_img read more

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Maltese regulator signs police MoU

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first_img Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Maltese regulator signs police MoU The Malta Gaming Authority (MGA) has signed a Memorandum of Understanding (MoU) with the island’s police force to collaborate on tackling illegal activities in the gambling sector. The Malta Gaming Authority (MGA) has signed a Memorandum of Understanding (MoU) with the island’s police force to collaborate on tackling illegal activities in the gambling sector.The MoU focuses on exchanging information about gaming operations between the Malta Police Force and the regulator, as well as joint operations where the seizure of assets may be required.The two parties will also collaborate on investigations into criminal activity in the gambling sector.“Apart from having a closer collaboration, through this MoU, both parties are also agreeing to share their respective knowledge and to formally provide technical training to each other,” MGA chief executive Heathcliff Farrugia explained.“This agreement is testament to the ongoing efforts of the two entities in continuing their fight against illegal gaming activities in Malta.”Police commissioner Lawrence Cutajar added: “The signing of this MoU with the MGA is one in a string of initiatives which the Malta Police Force under my charge has embarked upon over the past months aimed at combating criminality in general whilst it goes to show our strong commitment to tackle two of the most challenging crime categories, namely financial and computer-related crime.”The regulator has been increasingly active over the past year. In April, the MGA suspended Wish Me Luck Ltd’s gaming licence, with the online raffle website ordered to hand over company data and documentation to assist with an investigation into the business.The authority has also taken similar action against a number of other operators in recent months, including Neptune Entertainment and Triton Gaming, which both had their licences cancelled in March.center_img 21st May 2019 | By contenteditor Legal & compliance Regions: Europe Southern Europe Malta Topics: Legal & compliancelast_img read more

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Natural Intelligence joins RAIG

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first_img Topics: Legal & compliance Marketing & affiliates 22nd January 2020 | By contenteditor Natural Intelligence joins RAIG Israel-based affiliate giant Natural Intelligence has joined Responsible Affiliates in Gambling (RAIG), the affiliate trade body formed last year by Better Collective, Oddschecker and the Racing Post.The marketing business, understood to generate more than $200m in annual revenue a year across a range of sectors, will make its first public appearance as a member of the trade body on the panel ‘RAIG against the machine’ at iGB Affiliate London on 6 February.The panel will clarify the association’s key objectives, address industry concerns and demonstrate the importance of affiliate responsibility in the new compliance-driven gaming environment taking shape in the UK and other markets. RAIG chairman Clive Hawkswood told iGB: “Natural Intelligence have recently joined RAIG, which is great news, and they will be represented on the panel at iGB Affiliate London so that the voice of newer members can be heard alongside those of the association’s founding members.” Natural Intelligence’s director of UK growth James Garmston will be joining Oddschecker’s head of commercial Guy Harding and Better Collective’s director of Business Development Karl Pugh. Completing the line-up is Sarah Ramanauskas, senior partner for research and audit at Gambling Integrity. Having held senior research positions at William Hill and Betfair, Sarah is now RAIG’s social responsibility auditor. RAIG published details of its social responsibility audit in November of last year, aim at being able to show that its members are compliant with all relevant GB regulatory requirements. This process will also be examined in detail during the panel, which will also explore questions around player protection, self-exclusion and responsible advertising as well as affiliates’ relations with gaming regulators, including the reasons why affiliates have so far been largely excluded from industry discussions with regulators and legislators, and how they can work together to rectify this.Visit the iGB Affiliate London website for more information and to register to attend the event. Israel-based affiliate giant Natural Intelligence has joined Responsible Affiliates in Gambling (RAIG), the affiliate trade body formed last year by Better Collective, Oddschecker and the Racing Post.  AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Legal & compliance Tags: Mobile Online Gambling Subscribe to the iGaming newsletter Email Addresslast_img read more

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ATG defends Swedish limits despite little evidence of problem play

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first_img“In March this year, ATG introduced a mandatory loss limit at casinos. It was no coincidence that the introduction coincided with the advent of the pandemic,” she said. “It has never felt so right to help our customers make active decisions. I do not reject deposit limits or time limits, but if I had to choose a limit, I would choose a loss limit.” Regions: Europe Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regtech AB Trav och Galopp (ATG) acknowledged its fears of a sudden rise in problem gambling in the wake of novel coronavirus (Covid-19) have so far proved to be unfounded, but reiterated its support for the country’s casino loss limits. The operator’s head of sustainability and corporate social responsibility Maria Guggenberger claimed the operator’s loss limit introduced in April as Sweden dealt with the novel coronavirus (Covid-19) has been a great success. “What this is due to can only be speculated on,” she said. “Perhaps the answer lies in the fact that channeling is decreasing and that more and more people are playing at unlicensed companies.  However, Guggenberger also noted that despite ATG’s initial fears during the early stages of the pandemic, there has been “no indication that problem gambling has increased” so far. She pointed out pointed out that gambling addiction helplines received fewer calls during the period from March to May. 13th October 2020 | By Daniel O’Boylecenter_img Subscribe to the iGaming newsletter “Maybe it’s because gambling is generally declining. Perhaps the temporary gambling responsibility measures have done an effective job. Tags: ATG Sustainable Gambling Conference Deposit Cap Loss limits It was unclear, Guggenberger said, whether this is down to the Swedish government’s decision to issue a SEK5,000 (£438/€483/$569) mandatory weekly deposit cap for online casino, whether it was due to players playing on unlicensed sites as industry groups have feared, or due to other factors. Topics: Social responsibility Tech & innovation Problem gambling Responsible gambling Regtech ATG defends Swedish limits despite little evidence of problem play Email Addresslast_img read more

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ANJ partners family association to protect minors from gambling harm

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first_img French gambling regulator L’Autorité nationale des Jeux (ANJ) has entered into a partnership with the l’Union nationale des associations familiales (UNAF) in an effort to help protect children and young people in the country from gambling-related harm. Topics: Social responsibility Responsible gambling Regions: Western Europe France ANJ and UNAF will also seek to develop and implement training for staff across the UNAF network so that they can advise and help people impacted by underage gambling. Email Address “Strengthening collaboration and links with associative actors with targeted expertise in these areas and working towards audiences likely to encounter problems with their gambling or with minors is an essential lever for action.” These will include carrying out joint research on the types of minors taking part in underage gambling and their behaviours, as well as developing new materials to promote vigilance of underage gambling among families.  ANJ partners family association to protect minors from gambling harm 16th December 2020 | By Robert Fletchercenter_img Under the arrangement, the two parties will work together on a number of targeted initiatives designed to clamp down on underage gambling. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “The partnership agreement between ANJ and Unaf is part of the regulator’s mission to prevent excessive gambling and protect minors,” ANJ siaid. Subscribe to the iGaming newsletter Last month, the ANJ last month reported a 25.4% quarter-on-quarter increase in online gambling revenue in Q3 to €405m (£365.5m/$494.0m). This was accompanied by a 29.3% increase in active player accounts, to 2.7m. Tags: ANJ Responsible gamblinglast_img read more

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PointsBet to acquire betting supplier Banach Technology for $43m

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first_img16th March 2021 | By Robert Fletcher AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Read the full story on iGB North America. M&A PointsBet Holdings has announced that its Lockspell Limited wholly owned Irish subsidiary has entered into a binding agreement to acquire sportsbook solutions provider Banach Technology. PointsBet also agreed to provide Banach with $4.0m in funding to assist with the conversion process of existing equity options, with this amount to be retained by PointsBet after the acquisition completes. PointsBet to acquire betting supplier Banach Technology for $43m Subject to customary closing conditions, PointsBet said that it expects the deal to go through next month. Regions: US Subscribe to the iGaming newsletter Topics: Sports betting M&A Founded by former Paddy Power employees Mark Hughes, Alex Zevenbergen, Rob Reck and Hadrien Lepretre, Banach provides proprietary risk management platforms and quantitative driven trading models for sportsbook operators. Tags: PointsBet Banach Technology Under the agreement, PointsBet will pay US$43.0m (£31.1m/€36.1m) to purchase Ireland-based Banach on a cash and debt-free basis, with 55% of this to be paid in cash and 45% in shares. Email Addresslast_img read more

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