Barrick Gold makes £5bn copper push

first_imgMonday 25 April 2011 11:43 pm KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com whatsapp Share Barrick Gold makes £5bn copper push center_img RIO Tinto and BHP Billiton could soon face a new copper-mining rival after Barrick Gold announced a £4.7bn bid for Australia-based Equinox Resources.Canada-listed Barrick’s bid topped an earlier offer from China’s Minmetals Resources in a big bet on soaring copper demand. It represents the miner’s first major push outside its core gold-mining business.Equinox shares jumped nearly 12 per cent in Toronto after the announcement yesterday, signalling some expectation of a counter-bid from the Chinese metals powerhouse. Barrick shares shed five per cent, suggesting not all investors agree with the move to diversify.Already the world’s largest gold miner, Barrick will double its position in copper with the acquisition. Prices for the industrial metal have risen more than sevenfold in the past eight years as supplies lag the surging needs of China and other developing economies.Equinox, an Australian company listed in Toronto and Sydney, owns the Lumwana copper mine in the rich Zambian copper belt and most of the Jabal Sayid project in Saudi Arabia.Barrick’s bid represents an 8.7 per cent premium over Equinox’s Thursday closing price. The all-cash bid is 16 per cent higher than the £4bn offer that Minmetals presented earlier this month. The proposal underscored China’s growing prominence in the global race for resources. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 ScottsdaleMoneyPailLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Show Comments ▼ Tags: NULLlast_img read more

New Montana bill entrusts sports betting to state lottery

first_img Lawmakers in Montana are to run the rule over another bill that would legalise sports betting in the state, with the proposals to make the Montana Lottery the sole operator for the market.Introduced by Representative Ryan Lynch, HB 725 would allow for land-based, online and mobile sports wagering in the state, but only via the Montana Lottery.The bill, also known as the Sports Wagering Lottery Amendment of 2019, would allow for specialist sports betting kiosks to placed be at licensed venues across the state such as bars and restaurants.Consumers would also be able to place bets over the internet through websites and on mobile devices, but the bill does not set out how this would be put into practice at this stage.Although the bill does not disclose details as to how much licences would cost or how at what rate sports wagering would be taxed, it does confirm that a new lottery and sports wagering commission would oversee the market.This commission would also determine the locations at which state lottery game games and sports wagering tickets, or chances, wagers, or bets may be sold.Sports betting would be available to all consumers over the age of 18, with the exception of those employed by a licensed sports wagering venue.The types of wagering that would be available to the market would be limited to single-game bets, teaser bets, parlays, over-under, money line, pools, exchange wagering, in-game wagering, in-play bets, and proposition bets.Last week, another bill was also introduced with the aim of legalising land-based, online and mobile sports betting in the state.SB 330, also known as the Montana Sports Betting Act, sets out provisions for operators to offer an interactive sports wagering platform via a website or a mobile device to consumers located inside the premises of a licensed gambling facility.Image: Sebastian Bergmann 27th March 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Legal & compliance New Montana bill entrusts sports betting to state lottery Regions: US Montanacenter_img Subscribe to the iGaming newsletter Topics: Legal & compliance Sports betting Lawmakers in Montana are to run the rule over another bill that would legalise sports betting in the state, with the proposals to make the Montana Lottery the sole operator and regulator for the market. Email Addresslast_img read more

Golden Tides by 2BY2 Gaming

first_img Golden Tides by 2BY2 Gaming Topics: Casino & games Slots Subscribe to the iGaming newsletter Players join a band of magical mermaids beneath the ocean waves in Golden Tides, a 5 reel, 40 payline slot. Featuring stacked wilds on reels 2 or 4 that turn mermaids gold and bring an expanded paytable into play. There are also 2 bonus rounds that award up to 40 free spins. Look out for the mystery features in the game, including a Golden Mermaid offering enhanced payouts of up to 30 times a player’s stake per payline.You can download the First Look Games affiliate pack for this game here! AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Casino & games 13th August 2019 | By Louella Hughes Email Addresslast_img read more

Czech Minister pledges exclusion scheme launch in mid-2020

first_img Topics: Legal & compliance Email Address 14th November 2019 | By Daniel O’Boyle Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Czech Minister pledges exclusion scheme launch in mid-2020center_img Czech finance minister Alena Schillerová hailed the effect of the country’s 2017 Gambling Act, and revealed that an exclusion register to block a range of individuals – both voluntarily and involuntarily – from gambling would launch next year.However, the country’s national drug policy coordinator has warned about the increase of online gambling in the Czech Republic, and suggested further controls may be needed.Speaking at the Czech national gambling conference that took place on 5 November in Prague, Schillerová said that the exclusion register would go launch in mid-2020.This will not only include players that self-exclude, but also those on welfare, those who are bankrupt, people who have received treatment for gambling addiction as well as players that voluntarily excluded. Anyone listed would be unable to gamble either online or in person.“We are moving forward in setting up the exclusion register,” Schillerová said. “We will publish technical documentation at the turn of this year and we will start testing after the new year so that this register will be operational in mid-2020.”Schillerová added that the Czech Republic’s 2017 gambling act, regulated online gambling in the country for the first time, had been a major success in limiting the ability of black market operators to attract Czech customers.“The gambling law has changed it all,” Schillerová said. “It opened up the market to foreign operators, which allowed their regulation and proper taxation. It introduced mandatory registration of all online gambling players, thus preventing the participation of persons under 18 in gambling, it also brought important measures for their protection and helped to reduce the black market.”“Only in the first month following the law coming into effect, 90% of illegal online gambling has disappeared from the Czech market. A total of 121 websites have already been blocked. In total, fines amounting to CZK615.1m were imposed for the illegal operation of online gambling. For operating online games in violation of the law or the game plan, final penalties of CZK360,000 were imposed.”Schillerová added that governing gambling online was, and continues to be, a particular challenge for the Czech government.“Despite the fundamental progress in setting up modern gambling regulation and enforcing the rules of the game, we naturally did not rest on our laurels, especially the Internet. Responding to new trends in this area is another challenge for us.”However, at the same event, national drug policy coordinator Jarmila Vedralová said she was concerned about the prevalence of online gambling, especially among young men. The Czech national monitoring centre for drugs and addiction said in a release on 7 November that more than 45% of all gambling money is deposited online.“Currently, all indicators of online gambling are growing, the proportion of online players among pathological players is increasing, and online sports betting is the biggest problem,” Vedralová said. “Young men are particularly at risk of problem gambling in the online environment.“It is this dependency that our next steps are targeting. It is not a matter of deleting new technologies from life, but it is important to find a balance in their use.”In April, Schillerová’s Finance Ministry proposed a hike in gambling taxes, from 23% of GGR for all gambling except gaming machines to 30% of GGR for lotteries, live games and bingo operators and 25% for fixed-odds betting. In May, these taxes, some of the funds from  will be used to support problem gambling initiatives, were passed.In June, the Czech General Directorate of Finance told iGamingBusiness that revenue from regulated gambling in the country fell 21.3% in 2018 to CZK31.3bn (£1.1bn/€1.2bn/$1.4bn), with the decline down to a lower contribution from slot machines. Czech finance minister Alena Schillerová hailed the effect of the country’s 2017 Gambling Act, and revealed that an exclusion register to block a range of individuals – both voluntarily and involuntarily – from gambling would launch next year. Subscribe to the iGaming newsletter Regions: Europe Central and Eastern Europe Czech Republiclast_img read more

GTG launches new free-to-play game on Paddy Power

first_img GTG launches new free-to-play game on Paddy Power AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Social gaming Subscribe to the iGaming newsletter Gaming technology provider GTG Network will launch its free-to-play Skill Zone product on Paddy Power’s iOS and Android app after coming to an agreement with Flutter Entertainment.GTG said the Skill Zone game is similar to its Hit The Spot football-themed arcade game, which launched on Paddy Power in December 2018.Nathan Rothschild, co-founder and head of commercial at GTG, said the game would be an excellent way to connect with customers in the absence of live sports.“In what is an unprecedented and difficult time, we’re fortunate to be in a position to have a suite of products to connect with fans whilst there is little sport being played,” Rothschild said. “We have been excited about the response to Skill Zone.“Already a unique offering for sportsbooks, the new features we are releasing will truly push the benchmark for industry innovation.”GTG have also provided a trivia game and basketball arcade game on the Paddy Power website and app, with a mini golf game to follow in June. Gaming technology provider GTG Network will launch its free-to-play Skill Zone product on Paddy Power’s iOS and Android app after coming to an agreement with Flutter Entertainment. Casino & games 15th May 2020 | By Daniel O’Boyle Email Addresslast_img read more

S&P downgrades Codere over heightened default risk

first_img S&P downgrades Codere over heightened default risk Credit rating agency Standard & Poor’s (S&P) Global has downgraded Codere for the fourth time in eight months, stating that the operator is at serious risk of defaulting on its debts in the coming six months. 17th June 2020 | By contenteditor Credit rating agency S&P Global has downgraded Codere for the fourth time in eight months, stating that the operator is at serious risk of defaulting on its debts in the coming six months.S&P has downgraded the operator’s credit rating to CCC-, with high levels of debts putting pressure on liquidity and agreements with creditors. The agency also noted that Codere’s bonds have been trading consistently below par, but added there is potential for restructuring or refinancing actions over the medium term. Though S&P said a conventional default could arise from non-payment of interest or a liquidity crisis, it did point out that Codere paid its latest bond payment in May and understands the operator is arranging additional top-ups to boost liquidity. Specific defaults, S&P said, could also occur through debt restructuring or refinancing initiatives, adding it is likely Codere will breach its 4.1x net leverage covenant – the sum of all of the operator’s short- and long-term liabilities minus cash and cash equivalents – when tested in September of this year. As such, Codere and its €500m and $300m senior secured notes have now been downgraded to CCC- on S&P Global’s long-term issuer credit rating and issue ratings. A CCC rating indicates very weak creditworthiness, and that the company is dependent on both favourable business and operating conditions in order to fulfil the terms of its liabilities. The next step would be to downgrade Codere to CC, which suggests extremely weak creditworthiness and that the business is unlikely to fulfil the terms of some liabilities. “The negative outlook reflects our view that a default, either conventional or through a distressed exchange or restructuring, is increasingly likely in the next six months, absent unanticipated favourable developments, while the company also faces a potential liquidity shortfall or covenant breach if not adequately addressed,” S&P Global said. This will be the fourth time that Codere had been downgraded in the past eight months, with the first occurring in October when it was switched from B to B-, shortly after Codere announced that financial inconsistencies could impact its full-year results. Codere in February revealed a 5.9% year-on-year decline in revenue for 2019, after growth in European markets was offset by currency fluctuations hitting the contribution from its Argentinean business. In March, Codere was moved from B- to CCC+, before being downgraded again to CCC at the end of April. Codere last month also reported that revenue fell 21.3% to €278.5m in the first quarter of 2020, while a combination of retail shutdowns resulting from novel coronavirus (Covid-19) and exchange rate fluctuations contributed to losses rising to €97.1m. Tags: Online Gambling OTB and Betting Shops Topics: Financecenter_img Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more

SkyCity Auckland to remain closed until 31 August

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 26th August 2020 | By contenteditor Topics: Casino & games Casino & games SkyCity Auckland to remain closed until 31 August Email Addresscenter_img SkyCity Entertainment Group’s Auckland casino will remain closed until 31 August, after the New Zealand government extended its Alert Level 3 restrictions in place for the city to that date.The operator shut the Auckland casino on 12 August after the NZ government moved Auckland to Level 3 of its novel coronavirus (Covid-19) alert system and introduced a three-day lockdown in the city.Alert Level 3 states community transmission may be occurring and new clusters could emerge, but can be controlled through testing and contact tracing.People must stay at and work from home if possible, and while businesses can open premises, they cannot physically interact with customers. Public venues must also stay closed, but gatherings of up to 10 people are permitted with social distancing.This week, Prime Minister Jacinda Adern announced that the city would stay at Alert Level 3 after there had been no significant change in its Covid-19 infection rate, until at least 11:59pm on 30 August. After this point, Adern said that Auckland could be downgraded to Alert Level 2, which would in turn relax some restrictions and allow certain businesses to reopen.Alert Level 2 includes measures that prepare regions for a potential increase in cases, and also sets out that household transmission, single or isolated cluster outbreaks could be happening.Measures here allow businesses to open to the public if they follow public health guidance, but hospitality companies must keep groups separated, seated and served by a single person. Event facilities – including casinos – can open, but must limit capacity to a maximum of 100 people and ensure patrons do not mix.In response, SkyCity said it will keep its Auckland facilities closed until the alert level is reduced at midnight on 30 August. The operator had been due to reopen its properties today (26 August) prior to the alert level extension.When the locations do reopen, SkyCity will keep in place the physical distancing and hygiene measures that were in effect when it was operating at Alert Level 2, and which remain effective at its facilities in Hamilton and Queenstown.SkyCity’s Auckland casino reopened on 14 May having been shut since 23 March when the country entered lockdown, and returned to near-normal operations on 9 June after New Zealand downgraded its Covid-19 alert to its lowest level.New Zealand recorded five new cases of Covid-19 today, though none of were reported in Auckland. Regions: Oceania Australia Subscribe to the iGaming newsletter SkyCity Entertainment Group’s Auckland casino will remain closed until 31 August, after the New Zealand government extended its Alert Level 3 restrictions in place for the city until that date.last_img read more

GLMS elects OLG operations chief to executive committee

first_img16th December 2020 | By Robin Harrison “I am pleased to be able to support the efforts of GMLS to promote and ensure the integrity of worldwide sports betting,” she said of her new role.  GLMS elects OLG operations chief to executive committee Sullivan steps up to replace Sami Kauhanen, who left his role as vice president of wagering for Finnish monopoly Veikkaus in August to lead the country’s Finland’s horse racing and stud breeding association Suomi Hippos. Topics: People Social responsibility People moves Sports integrity “It is one of our strategic priorities to acquire new members in North America, as many states and provinces are regulating sports betting and there is a need to advocate and educate legislators and policy makers on best practices for creating and implementing effective integrity measures for a responsible and sustainable betting market environment.” She has been active in the lottery and gaming sector for almost a decade, and oversees sports betting, regulatory compliance, player protection, social responsibility and responsible gambling at OLG.  Subscribe to the iGaming newsletter “I am confident that Lori will enhance the profile and awareness of GLMS among North American industry partners, stakeholders, regulators, policy makers, sport organizations and law enforcement agencies,” Calvi said.  Tags: GLMScenter_img Sports integrity GLMS president Ludovico Calvi added that Sullivan brought “tremendous experience” as a lottery executive and former general counsel.  AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sullivan was a partner at law firmDavies, Ward, Phillips & Vineberg, as a corporate transactional attorney, before joining the lottery. Email Address Regions: Canada Ontario Read the full story on iGB North America. The Global Lottery Monitoring System (GLMS), the betting integrity watchdog for the lottery industry, has elected Lori Sullivan, chief operating officer of Canadian provincial operator Ontario Lottery and Gaming (OLG) to it executive committee.last_img read more

Washington bill would extend legal betting to cardrooms

first_imgSports betting regulation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Washington Senate Bill 5212, was filed in January by Republican Senator Curtis King and his Democratic counterpart Marko Lilas.  Subscribe to the iGaming newsletter Read the full story on iGB North America. Tags: Maverick Gaming Washington A Senate bill filed in Washington State would legalise wagering at cardrooms, racetracks, and via online platforms should it pass into law. No tribes have launched sports betting to date, though George said negotiations to amend tribal compacts were ongoing and must be completed before the first bets could be placed. It subject of a hearing in the chamber’s Committee on Labor, Commerce & Tribal Affairs yesterday (4 February). At yesterday’s hearing the legislation was strongly opposed by the Washington Indian Gaming Association. center_img She urged lawmakers to reject the bill, and limit the state’s sports betting market to tribal venues. This was facilitated by a bill signed into law by Governor Jay Inslee in March last year, amid vocal complaints from the state’s largest cardroom operator Maverick Gaming.  The bill aims to permit cardrooms and racetracks to offer in-person and online wagering to patrons aged 18 and above. Operators will be required to pay a $100,000 (£73,062/€83,474) licence fee, then a 10% tax on gross revenue.  However Eric Persson, chief executive of Maverick Gaming, argued the bill would allow the operator to create 10 jobs per cardroom, and preserve existing roles at its properties. He was supported at the hearing by testimonies from employees and unions.  Its executive director Rebecca George suggested that the bill would in fact permit statewide mobile betting. This would contravene the state’s strict prohibition on gambling online, she explained.  Each property would be allowed to partner a third party provider to launch a single online offering. This third party must to secure a Casino Service Industry Enterprise licence.  Email Address Washington bill would extend legal betting to cardrooms 5th February 2021 | By Robin Harrison Topics: Casino & games Legal & compliance Sports betting Land-based casino Regulation Online sports betting Retail sports betting Sports betting regulationlast_img read more

BetMGM signs Michigan basketball great Rose as brand ambassador

first_img BetMGM signs Michigan basketball great Rose as brand ambassador The arrangement will see Rose feature in BetMGM’s marketing campaigns and take part in a range of BetMGM fan events. Subscribe to the iGaming newsletter Marketing & affiliates Regions: US Rose will engage with BetMGM customers and MGM Resorts’ M life Rewards loyalty members, as well as appear in BetMGM social media content and make guest appearances on radio and television programs. “The excitement around sports and the growth of sports betting, and BetMGM in particular, this year has been special to witness,” Rose said. “I’m beyond excited to go from a spectator to a player joining the BetMGM team, continuing to defy industry expectations.” BetMGM, the joint venture between MGM resorts and Entain, has announced former National Basketball Association (NBA) star Jalen Rose as a celebrity brand ambassador. Tags: BetMGM NBA Jalen Rosecenter_img Topics: Marketing & affiliates Sports betting Marketing BetMGM chief revenue officer Matt Prevost added: “Jalen Rose is an All-Star addition to the BetMGM team. The impact he has had on the game of basketball is surpassed only by the exceptional analysis he provides fans daily.” Email Address 15th March 2021 | By Robert Fletcher Born in Detroit, Michigan, Rose spent 13 years playing in the NBA, turning out for the Denver Nuggets, Indiana Pacers, Chicago Bulls, Toronto Raptors, New York Knicks and Phoenix Suns. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Read the full story on iGB North America.last_img read more