UBS: Barclays too big for UK

first_img KCS-content BARCLAYS will have no choice but to consider leaving the UK, according to prominent UBS banks analyst John Paul-Crutchley.In a note to investors asking if the bank could be “the first to leave” London, Paul-Crutchley said yesterday that Barlcays and JP Morgan are “broadly comparable”, except that the Fed has given JP Morgan permission to up its dividend whereas “Barclays remains mired in the fog of regulatory uncertainty”.Comparing the £554m compensation that Barclays paid to its top managers versus the £653m it was permitted to pay out in dividends by UK regulators, he said: “If this difference [between local regulations] becomes permanent, we think Barclays has little option but to consider shifting domicile.”Paul-Crutchley adds that moving its headquarters to a larger economy could make sense for Barclays given that its balance sheet is equivalent to 100 per cent of GDP. “Rather than Barclays being too big [to fail], it may well be that the UK is too small.” The analysis points to Barclays’ 2010 annual report, which lists only HSBC in its peer group in the UK. Speculation on whether London could lose a major bank due to stringent regulation has centred on HSBC due to the bank deriving most of its revenues abroad.Paul-Crutchley also estimates both Barclays’ and JP Morgan’s core tier one capital ratio under Basel III as opposed to Basel I or II, which neither of the banks have yet disclosed.The estimates come out at 7.81 per cent for Barclays and 7.23 per cent for JP Morgan. If accurate, it means both banks have their work cut out to meet Basel III requirements (seven per cent) plus a likely capital surcharge for “too big to fail” banks, which is expected to be two to four per cent. whatsapp UBS: Barclays too big for UK More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tuesday 29 March 2011 8:42 pm Share Show Comments ▼ whatsapp Tags: NULLlast_img read more

Weak recovery in the Eurozone

first_img Growth in the Eurozone will be sluggish in 2012, while the single currency area faces strong downside risks, Ernst and Young’s spring economic forecast will state today. The euro area economy is recovering “at a much slower pace than expected,” with forecast GDP growth of just 1.5 per cent this year and 1.7 per cent in 2012, Ernst and Young will announce. “And although we still expect a muted recovery for the Eurozone over the next 12 months that could easily be blown off course by global economic events or an escalation of the Eurozone debt crisis,” said Ernst and Young economist Marie Diron. Unemployment across the Eurozone could still be around 14m in 2015, according to the forecast – considerably above 2007 levels. Given the frailty of the economy, the European Central Bank could be making a mistake by raising interest rates, Diron feels. The ECB is widely expected to hike interest rates when it meets on Thursday of this week. Weak recovery in the Eurozone Share KCS-content Show Comments ▼ whatsappcenter_img Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Sunday 3 April 2011 10:58 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today Tags: NULLlast_img read more

Outgoing Dutch regulators’ fury at online gaming deadlock

first_img Kansspelautoriteit chiefs tell politicians to get delayed online gaming bill passed Subscribe to the iGaming newsletter Email Address Outgoing Dutch regulators’ fury at online gaming deadlock Tags: Online Gambling Topics: Legal & compliance The outgoing heads of the Netherlands’ gambling regulator have taken a parting shot at politicians who have failed to pass gambling regulations during their six years in office.Chairman Jan Suyver (pictured left) and vice-chairman Henk Kesler (right) left Kansspelautoriteit last week, replaced by René Jansen and Bernadette van Buchem. Suyver and Kesler arrived at the regulator in 2012 on the understanding that the Remote Gaming Bill would soon be passed and that their task would be to oversee a regulated market and combat illegal supply.Six years later and the legislation remains in limbo in the Senate, while it is estimated that one million Dutch citizens are regularly using unregulated, unlicensed websites.After leaving their posts last week – shortly after Joop Pot replaced Marja Appelman as CEO – Suyver and Kesler have gone public with their frustrations, and the publishing of an interview with them on Kansspelautoriteit’s website suggests the regulatory body itself will not stay quiet about the impasse.“Unfortunately, we were not allowed to do what we wanted to do,” Kesler said. “For that reason I do not look back with great satisfaction.“A nice organisation has been set up, but politics has not delivered what we were promised at the start of the Gaming Authority: a toolbox to steer online gambling on a regulated market.“I’ve become pretty cranky now and again. There is a lot of complaining in the Lower House, but they should get along with the necessary legislation.”Kesler believes more government resources could have been directed towards the passage of the act, explaining that progress was sometimes stymied by the slow response to parliamentary questions. However, he is optimistic that the government will pursue the implementation of the legislation as it was mentioned in the coalition agreement.Suyver said politicians must forget their ideological or moral opposition to gambling, accept that people will do it legally or illegally and look to create a framework that protects them – following the lead of countries such as Denmark and Sweden.Suyver said: “The consumer simply has the right to be protected. I always say: even though you are against gambling, that cannot be a reason not to arrange it. Rather, on the contrary, I would say.”Speaking earlier this year about the appointment of Jansen and Van Buchem, the regulator said in a statement: “The Gaming Authority sees Jansen and van Buchem as the right people to continue the course taken by the Kansspelautoriteit and to lead the organisation through the planned modernisation of the gaming policy.”While the lower house of the Dutch parliament approved the Remote Gaming Bill in 2016, it is still awaiting Senate approval.In June, the country’s coalition government stated its intention to push ahead with the process, with the aim of introducing new regulations by 2020. 9th October 2018 | By contenteditor Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Western Europe Netherlandslast_img read more

Ex-England goalkeeper James to support Bet Regret campaign

first_img Subscribe to the iGaming newsletter Problem gambling funding body GambleAware has appointed former England international goalkeeper David James as an ambassador for its Bet Regret campaign, the next round of which will focus on keeping fans from placing impulsive bets. Problem gambling funding body GambleAware has appointed former England international goalkeeper David James as an ambassador for its Bet Regret campaign, the next round of which will focus on keeping fans from placing impulsive bets.Regret will target supporters across the UK throughout the two-week international football break, during which no matches will take place in the Premier League or Championship, with many players in each league competing with their national teams.According to a 2019 report by public opinion and data company YouGov, over 25m people in the UK support a Premier League or Championship club, with the lack of top-level domestic fixtures during this period leaving some fans bored.GambleAware cites boredom, as well as being drunk and chasing losses, as one of three behaviours they have identified that can lead to placing impulsive bets before immediately feeling remorseful.To help combat this potential boredom, James will feature in a series of videos to help keep fans from placing impulsive bets.The Football Supporters’ Association (FSA), which is supporting the Bet Regret campaign during the 2019-20 season, will also put out a number of ‘Beat The Break Brain Busters’ during the international break for fans to tackle and draw their attention away from impulsive betting.“Supporting Safer Gambling within football is something that is important to me,” James said. “There is so much exposure to betting and it is increasingly easy to bet impulsively, so I want to encourage football fans to think twice about how they are betting.”After this initial campaign, James will encourage fans to moderate their betting behaviours throughout the season, supporting other initiatives that urge fans to think twice before placing a bet when bored, drunk or chasing losses.“Helping fans beat the break this October is only the start and I’m looking forward to working with GambleAware and the FSA this season to raise awareness of Bet Regret,” James added.Image: Gokulpoovlliyil 9th October 2019 | By contenteditor Regions: UK & Ireland Ex-England goalkeeper James to support Bet Regret campaigncenter_img Marketing & affiliates AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Marketing & affiliates Sports betting Email Addresslast_img read more

Paul Newson appointed to lead global regulatory association

first_img Subscribe to the iGaming newsletter Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The International Association of Gaming Regulators (IAGR) has appointed Paul Newson, trustee of Australia’s New South Wales Responsible Gambling Fund, as its new president. The International Association of Gaming Regulators (IAGR) has appointed Paul Newson, trustee of Australia’s New South Wales Responsible Gambling Fund, as its new president.Newson has held senior roles with various gambling and sports organisations in New South Wales, including his current trustee position since February 2014.Between April 2017 and July 2019, Newson was deputy secretary for Liquor & Gaming NSW, having previously served in the same role with Liquor, Gaming & Emergency Management NSW.Newson also had a spell as chief executive of Greyhound Racing NSW, where he led a review of its strategy and welfare controls, as well as establishing new commercial and regulatory functions to improve governance and integrity controls.“I’m really looking forward to working with our board of trustees, members and industry stakeholders to best position IAGR to advance better regulation globally.”Newson replaces Trude Felde, a senior advisor to the Norwegian Gaming Authority (Lottstift), as president of the IAGR. Tags: Online Gambling Slot Machinescenter_img Paul Newson appointed to lead global regulatory association Topics: Casino & games Legal & compliance Sports betting Strategy Slots 21st October 2019 | By contenteditor Casino & gameslast_img read more

888 set to hit 2019 targets after strong finish to year

first_img7th January 2020 | By contenteditor Subscribe to the iGaming newsletter 888 set to hit 2019 targets after strong finish to year 888 Holdings has said it is on track to achieve adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in line with expectations for 2019, after the online gaming operator was boosted by a record revenue performance in December. Email Address 888 Holdings has said it is on track to achieve adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in line with expectations for 2019, after the online gaming operator was boosted by a record revenue performance in December.Although the operator did not publish any figures, it said in a post-close trading update that its performance during the 12 months to 31 December, 2019 was underpinned by ongoing success with its Orbit casino platform and further growth in sports betting.In terms of casino, 888 said though poker remained challenging over the past year, it was pleased with the first-phase roll out of its new Poker 8 poker platform in the second half of the year.888 plans to add a number of new product features to the platform in 2020, as well as rolling out the final-phase platform across all poker markets.Focusing on geographical performance, 888 said that it continued to increase revenue in the UK as a result of efforts to engage with recreational customers. In Italy, 888 saw further growth during the second half of the year, primarily due to the continued success of its casino business.For the Spanish market, 888 noted that the launch of competitors’ shared poker liquidity networks between Spain, Portugal and France impacted revenue in the country. However the operator said it was encouraged by the early performance of its shared liquidity network between Portugal and Spain, which launched in July.In addition, 888 highlighted continued progress in the Swedish and Romanian regulated markets throughout the past year, resulting in the percentage of revenue generated from regulated markets increasing year-on-year.“The group has delivered solid progress in the second half of the financial year underpinned by continued momentum in casino and sport,” 888 chief executive Itai Pazner said. “We are very encouraged by the growth in new customers during 2019 with a record of more than one million new customers signing up to 888’s brands during the year.”Following the acquisition of Irish sports betting operator Betbright in March, Pazner added that the operator will continue to invest to support its long-term growth plans.“The post-merger integration plan is progressing in line with expectations and 888 remains on track to launch its first proprietary sport product during the first half of 2020,” he said. “New product development has remained a key focus and competitive advantage for 888 and the success of our Orbit platform across multiple regulated markets during 2019 has been a major achievement for the group.“We have delivered a strong recovery in our UK business underpinned by a clear and unwavering focus on entertaining recreational customers in a safe and secure environment. Continuous investment in further enhancing responsible gaming processes and tools across all markets will remain a key focus for the group.“888 has entered 2020 with good momentum across several regulated European markets and, underpinned by further investment in our team, marketing and product development, we remain focused on achieving further progress in the US.”center_img Topics: Casino & games Finance Sports betting Strategy Poker Tags: Card Rooms and Poker Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

IGT set for Rhode Island joint venture with Twin River

first_img Topics: Casino & games Strategy Tech & innovation Slots IGT set for Rhode Island joint venture with Twin River Email Address Tags: Slot Machines AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 31st January 2020 | By contenteditor International Game Technology (IGT) has announced a new joint venture with Twin River Worldwide Holdings, with the aim of working together in Rhode Island to improve and expand gambling services in the state.The proposed joint venture (JV) would be established on January 1, 2022, with IGT holding a 60% controlling stake and Twin River the remaining 40%.The JV would run as a licensed video lottery terminal (VLT) provider and supply all gaming machines to the Rhode Island Lottery, with IGT machines to make up 40% of the total network.A minimum of 6% of machines would be replaced each year, while 5% of VLTs would be premium machines. Meanwhile, Twin River would seek to secure a license as a technology provider and also acquire approximately 23% of the slot floor from existing third party vendors at its Twin River Casino Hotel facility.Read the full story on iGB North America. Regions: US Rhode Island Casino & games Subscribe to the iGaming newsletter International Game Technology (IGT) has announced a new joint venture with Twin River Worldwide Holdings, with the aim of working together in Rhode Island to improve and expand gambling services in the state.last_img read more

GiG to enhance payment solutions with Volt Technologies

first_img Tags: Online Gambling Payments Subscribe to the iGaming newsletter GiG to enhance payment solutions with Volt Technologies AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tech & innovation Gaming Innovation Group (GiG) has entered into a new partnership with open banking solutions provider Volt Technologies. 6th May 2020 | By contenteditorcenter_img Companies: GiG Gaming Innovation Group (GiG) has entered into a new partnership with open banking solutions provider Volt Technologies. Under the agreement, GiG will be able to offer Volt’s payment solutions to its customers. Volt said its services will enable GIG B2B partners to access faster payment options across a range of markets. Open banking falls within the PSD2 European Union electronic payment services regulation, under which banks are mandated to open up APIs to licensed third parties. According to Volt, by utilising these APIs, third-party providers are permitted to initiate payments or access a customer’s banking data, allowing them to develop improved experiences and services. “We are happy to have partnered with Volt for open source banking, its features align with GiG’s increased focus towards platform services, providing our partners with superior technical solutions to reach their goals,” GiG’s chief commercial officer Ben Clemes said. “Gaining access to highly accurate data that comes directly from the customer’s bank will become a game-changer for know-your-customer and compliance-related processes.” Volt chief commercial officer Jordan Lawrence added: “GIG is one of the leaders in technology development enabling the gaming industry, we are delighted to be working with their team. We look forward to unlocking the potential of open banking for GIG’s partner network.” Topics: Tech & innovation Regions: Europe Email Addresslast_img read more

Greentube seals Playtech distribution deal

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Greentube seals Playtech distribution deal Casino & games Tags: Online Gambling 14th May 2020 | By contenteditorcenter_img Greentube, the interactive division of Novomatic, has agreed a deal to launch a range of its online casino content with gambling tech giant Playtech.Under the agreement, Playtech will roll out titles such as Book of Ra deluxe and Lucky Lady’s Charm, both of which were first developed as retail games before being adapted for online.Playtech will initially launch the Greentube content in Poland, Spain and the UK, as well as in Mexico to support its growth strategy in the wider Latin American market.“These games will be a valuable addition to our portfolio, providing our partners with titles that appeal to audiences ranging from traditional land-based players to new online slot fans,” Playtech chief operating officer Shimon Akad said.“Playtech’s scale and distribution is a powerful offering for potential partners, and this is a great example of our commitment to partnering with the right companies to bring great content to new and growing markets.”Greentube’s chief games officer Michael Bauer added: “Joining Playtech’s Games Marketplace creates significant advantages for both our businesses: Playtech’s customers will get access to our player-favourite titles that have proven to deliver strong results, while we will further accelerate our reach into key strategic markets.“We believe this step comes at exactly the right time, as more and more European jurisdictions regulate and the Americas promise much room for growth.” Topics: Casino & games Tech & innovation Greentube, the interactive division of Novomatic, has agreed a deal to launch a range of its online casino content with gambling tech giant Playtech. Email Addresslast_img read more

Advertising body rejects APPG calls for total gambling ad ban

first_img Tags: Online Gambling OTB and Betting Shops Slot Machines Topics: Casino & games Legal & compliance Marketing & affiliates Sports betting Bingo Slots Regions: UK & Ireland 16th June 2020 | By contenteditor Bingo The UK’s Advertising Association (AA) has rejected proposals from the Gambling Related Harm All Party Parliamentary Group (APPG) to ban all forms of gambling advertising, saying that such a move is not necessary at present. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Advertising body rejects APPG calls for total gambling ad ban The UK’s Advertising Association (AA) has rejected proposals from the Gambling Related Harm All Party Parliamentary Group (APPG) to ban all forms of gambling advertising, saying that such a move is not necessary at present.The APPG yesterday (15 June) published its final report on igaming harms, and concluded that a range of strict new controls should be introduced, including a total prohibition on advertising.In the report, the APPG claimed that as gambling can cause harm to individuals, and as advertising is designed to encourage people to gamble, a blanket ban would be justified.However, the AA, a trade association that represents advertisers, agencies, media and research services in the UK, said an outright ban would not be necessary and could in fact have further implications on the market.“We ask all gambling operators and their agencies to continue to adhere to the strict standards set by the Advertising Standards Authority (ASA) and the Gambling Commission,” AA chief executive Stephen Woodford said. “These rules clearly require gambling operators to be socially responsible and to protect the vulnerable, as well as under 18s.“As new evidence emerges, the ASA and Gambling Commission consider this and amend the rules if they believe the evidence supports change,” Woodford explained. “At this time, we believe a total ban is not necessary – such an action has wide implications, particularly for the support of sports across media channels, something enjoyed by millions of people right across the UK.”Last month, the ASA released new research that suggested children’s exposure to gambling advertising has declined and is falling back to 2008 levels, amid an overall drop in TV viewing among children.The ASA’s 2019 update on its monitoring of children’s exposure to advertising for age-restricted products revealed children saw, on average, 2.5 TV gambling ads per week. This sees the rate of exposure fall to 2008 and 2009 levels, when children saw 2.2 and 2.7 gambling ads on TV, respectively.In total, these ads made up less than 2% of all TV ads seen by children each week. This represented a significant decline from 2013’s peak, when children saw an average of 4.4 gambling ads per week.The AA is not the only organisation to have hit back at the APPG findings, with the Gambling Commission also blasting claims that it was “not for for purpose”, dismissing the parliamentary group’s assertion as “untrue”.Other recommendations made by the APPG included a ban on online in-play betting and a new review into the use of bonuses and incentives by gambling operators, to determine whether these contributed to harmful gambling, as well as an end to VIP schemes. Subscribe to the iGaming newsletter Email Addresslast_img read more