Online Industry News: Real names on GGPoker, WPT announces new online series, Flutter Q2 report – PokerStars doubles revenue, Playtech enters New Jersey
In this column we deliver you the latest and most interesting online poker industry news from across the world and all platforms.
GGPoker pushes for more real names
Following the example of partypoker, GGPoker had already started to implement real names in a few high stakes cash games and tournaments. This is a feature GGPoker has now announced to be rolled out to more games in the future.
GGPoker was also in the news this week as it showed resistance to a poker traffic slump other poker sites have been experiencing. Now that most poker sites’ traffic is plateauing or even declining due to seasonal changes and the drop off from the stay-at-home boom, GGPoker manages to maintain an increase. It is a true bliss to see the development of this former fairly insignificant poker baby.
partypoker announces another WPT online series
In a recent episode of Jaime Staples’ Weekly Poker Showdown, GVC representative Rob Yong announced a continuation of partypoker’s collaboration with the WPT in offering another online series this July.
The “World Poker Tour World Online Championships” will guarantee $100 million. Yong also emphasized the preferred use of the freezeout format over re-entries which will be a risky play by the operator as it would be much easier to reach a 9-figure guarantee that way.
According to the teaser the Main Event will feature a $10,300 Buy-In and will come along fifteen Championship Events.
Details for this series are still outstanding but we will of course update you here on Somuchpoker.com once we know more.
Highly Flutter-ing – PokerStars doubles revenue
Gambling Insider reports on a 10% year-on-year increase in pro forma group revenue for Flutter Entertainment which has been announced in a Q2 trading update. This boost mainly comes down to the quite recently acquired Stars Group with the pro forma results showing a 92% rise in revenue.
While sports betting is of course heavily hit by the Covid-19 pandemic as there simply were no sports happening to bet on, the online casino and online poker industry have been booming the past few months.
So, considering a 92% rise in revenue for the Stars Group means that poker and casino have been carrying the load that the betting side of the business had dropped and packed some extra on top.
Following the positive news from Flutter were some more updates that will further build foundations for a strong position in the U.S. market. Fox Corporation increased its investment in Flutter during an overall £800m share sale.
“Fox Bet has shown strong growth since launching last fall, and we look forward to continuing that success with our partner, Flutter,” Fox Corporation chairman and chief executive Lachlan Murdoc said. “Fox’s investment in Flutter underscores our confidence in Flutter’s business and its management’s ability to continue to drive leadership in the US market.”
For the online poker world this is a big spark of hope as when sports betting is opening the doors in the U.S. there will be opportunities for poker to flutter right through as well.
Playtech approved for online casino in New Jersey
The New Jersey Division of Gaming Enforcement (NJDGE) has approved Playtech to start offering online gambling in the Garden State. In order to do so, online operators need to marry with land-based gambling properties and in this case it will be Playtech’s partner bet365 and the Hard Rock Atlantic City.
The rollout can begin and we can eagerly await a new player in the game. Playtech will of course work hard to expand to more States as well.
“We are delighted to have met the stringent regulatory requirements of the NJDGE and to be launching in New Jersey with our long-standing strategic partner bet365,” Playtech chief executive Mor Weizer said. “The US is a highly strategic market for Playtech and we see significant demand for the full breadth of our product offering.”
Weizer continues, “We are initially launching our online casino product in New Jersey and over time will increase our products on offer to include Sports, platform, and Live Casino and we will continue to expand into further states as they regulate. This is the first step for Playtech in the US and we are very excited about the long-term opportunity.”
