Online Casino Gambling

Each Wednesday, Virgin Casino has been adding a slot game to its repertoire. However, on Wednesday, August 17^th, 2011, the casino will be releasing two: Call of the Coliseum and Dynasty. To accompany the releases, Virgin is offering a new promotion. The invitation states, “You’ll have to defend the Great Wall from the Mongol attacks and then fight with lions in the Coliseum arena, only the winners will grab a MASSIVE prize – up to £650 Cash!”

Promotional Period

Therefore, players will have between August 15^th and the 19^th to wager between GBP 500 and GBP 25,000 on these two games and several other selected top slots. If players meet the wagering requirements for release of bonus amounts, they will bring home guaranteed cash prizes.

Ten Wagering Tiers

To accommodate the variety of bettors at the casino, the promotion signifies ten wagering tiers with subsequent bonuses for each tier. The first tier requires betting at least GBP 500 for a bonus of GBP 10. The second tier involves wagering at least GBP 2,500 to receive a bonus of GBP 50. Therefore, as the wagering limit increases so does the awarded bonus. The top tier entails a wagering requirement of GBP 25,000 for a maximum bonus of GBP 650.

Eligible Playtech Slot Games

The Virgin Casino website displays the complete list of eligible games for the promotion. Players can only wager on these games to count toward the fulfillment of the wagering requirements. All amounts won during the betting on these games are the players to keep. The list of Playtech games include: Monopoly YITM, Star Trek, Cleopatra, Da Vinci Diamonds, Crocodopolis and the War of the Worlds

Eligible Microgaming and Cryptologic Slot Games

Eligible Microgaming slot games include, the Lord of the Rings, Rhyming Reels Queen of Hearts, Hot Ink and Tomb Raider II. Cryptologic games that are part of the promotion include 300 Shields and Batman. Since Virgin Casino does not have one exclusive supplier, they utilize many of the best casino software development companies.

There is always a lot of exciting activity at Virgin Casino. Game launches, promotions, tournaments and bonuses are the norm at the casino. This is simply another example of the launch of two new games accompanied by generous bonuses. It will be interesting to see what the casino has up its sleeve for the month of September and beyond.

Toward the end of 2010, leading online gaming software provider Cryptologic reported a major decline in financial performance in addition to operational problems. As a result, the online gambling industry was put on alert as these announcements developed. However, Cryptologic recently announced the results of its financial performance from the second quarter of 2011. Although there has been no magical recovery, those with a vested interest in the provider will be relieved.

Financial Results for the Second Quarter

The financial results for the quarter ending June 30^th, 2011 highlight an increase in revenue to $7 million from $6 million in the first quarter. However, the total expenses remained consistent at $6.5 million. Therefore, income prior to tax is $0.5 million compared to a loss in the first quarter. The company made an announcement that the Board of Directors is pleased with the performance and will continue to focus on improving revenues in the future while decreasing costs.

Small Reasons for the Increase in Revenue

The company further reported the reasons for an increase in revenue. Although small, there was a reduction in liabilities from the previous quarter as a result of a dispute with a supplier. Also, there was an upsurge in revenue from branded games. During the second quarter, six new branded slot games went live for a total of 185 revenue-generating online games. However, there was a loss in revenue from online poker.

Progressive Jackpot Win

Another highpoint from the second quarter was a progressive jackpot win of $4.2 million at Sky Vegas online casino. The result was a decreased provision for jackpot wins but also a decrease in cash and cash equivalents. Cryptologic directly pays out any progressive jackpot wins to avoid a player-casino dispute.

Update on Commercial Agreements

The financial announcement also gave an update on commercial agreements. Cryptologic has signed a binding agreement with a specific game supplier to continue their business relationship. However, the disagreement between the brand licensor and Cryptologic continues to be unresolved. Therefore, the online gambling community is anxious to learn the results of the review being conducted by Deloitte Corporate Finance which is ongoing.

Cryptologic appears to be making significant improvements from where it was several months ago. As it continues to release games and improve its financial results, the online gambling industry is following closely. Hopefully in the future, Cryptologic will revert back to the game-releasing, financial online gaming powerhouse it once was.

Virgin Online Casino recently went live with its newest game entitled, “Fairies Forest.” Enchanted surroundings and magical creatures are the norm in this fantasy-themed slot game. As expected, the game boasts, incredible animations, soothing background music and well-crafted symbols. Fairies Forest is a 25 payline game which allows players to wager between 0.01 credits and 8.00 credits per payline.

The Parrot Symbol

The parrot is the most important symbol in the game as it pays the most. Five parrot symbols on any payline award 5,000 coins. The second most important symbol is the Magic Potion which pays out 1,000 coins when five of the icons appear on a payline. Other symbols include toadstools and flowers. Additionally, high value cards from nine to ace are an active part of the game. The reels are set in a forest environment with bright, exotic flowers.

The Fairy Symbol

The wild symbol is represented by the fairy which only appears on reels two through four. The fairy icon animation involves the fairy leaping out of the symbols and spreading across the rows transforming the reel into an enchanted forest. This incredible feature only occurs during winning combinations.

The Scatter Symbol

The scatter symbol is the forest which awards scattered payouts when more than two forest icons appear on any reels. If five are hit the maximum payout is 100 coins multiplied by the total bet which converts them to credits. Three or more forest symbols equate to ten free spins. When the fairy symbol appears during a winning combination, payouts from the free spins are multiple by three. If three or greater scatter characters appear, the free spins are retriggered.

Gaming Technology Solutions Enhanced Gaming Engine Platform

A product of NextGen Gaming, Fairies Forest has already proven to be extremely popular due to the large payouts, amazing graphics and sound and high level of fun. Since Virgin Casino does not have a sole gaming supplier, the operator uses  Gaming Technology Solutions (GTS) Enhanced Gaming Engine platform which allows access to games from my suppliers including, WagerWorks, Cryptologic and Microgaming.

With so many similar online slot games available on the market, Fairies Forest is a breath of fresh air to players. The game presents so many excellent features that players will never want to walk away from this game. Stop by Virgin Casino soon to reap the many benefits of Fairies Forest.

With the recent release of the long awaited, action-packed movie, Thor, this begs the question as to whether an online slot game will be developed based on the film. Super heroes have proven to be popular in movies, comics and online slot games. As a result, there are numerous online slot games available based on Marvel superheroes.

Thor The Movie

The movie Thor was produced by Marvel Movies and directed by Kenneth Branagh. The cast includes Chris Hemsworth as Thor, Natalie Portman as Jane Foster, Tom Hiddleston as Loki and Academy Award winning actor Anthony Hopkins as Odin.

Playtech Versus Cryptologic

There are currently two leading online gaming software developers that provide Marvel-branded slot games: Playtech and Cryptologic. Playtech has an agreement with Marvel Movies and provides numerous slot games based on their superheroes. When Iron Man 2 the movie was released, Playtech simultaneously launched the slot game.

Prior to the Playtech agreement, Cryptologic has released several Marvel-branded games. Cryptologic has an agreement with Marvel Comics which is an entirely different entity from Marvel Movies. To date, Cryptologic has release over 15 Marvel Comics super hero online slot games, one of which details the life of Thor. This begs the question, since the comic was converted into a movie, will Playtech produce a new version of the game?

The Original Thor Game

Thor is a super hero based on the mythological Norse god and features all his allies and enemies as symbols in the game. Other symbols include accessories and weapons that grant him super powers. The wild icon is the thunderbolt which becomes animated when the jackpot is hit which pays out 4,000 coins.

The Thor logo is representative of the scatter symbol and activates the free spins bonus round. During this extra game, players are given 10 free spins at triple the payouts. The highlight of the game is that the progressive jackpot can be randomly hit on any spin. This jackpot is three tiered. The first level is Hero, second is Super Hero and third is Marvel. This game is available at all Cryptologic online gaming sites.

Since a popular Thor game already exists from the Marvel Comics-brand, it is difficult to predict whether an additional game will be released to the public based on the movie. However, to remain competitive in the industry, Playtech may release a newer, updated version to give players a choice.

Online poker rooms and online casinos are two separate digital entities. Online poker rooms allow players to compete against one another with the operator taking rake from each pot. Online casinos offer games where the player bets against the casino in games like roulette, blackjack and slots. Both types operate utilizing the same technological, legal and financial means which can affect one another. If a legal event occurs with regards to online gambling, all operators pay attention.

Seizure of Three Domains

On Friday, April 15^th, 2011, the U.S. Department of Justice seized the domains of the three largest online poker room operators: Poker Stars, Full Tilt and Absolute Poker. A warrant for the arrest of the owners has been issued along with a demand of $3 billion in penalties. However, the owners do not currently reside in the United States so they cannot be taken into custody at this time.

UIGEA 2006

The Department of Justice enforced this indictment under UIGEA 2006. One of the charges held against the operators is conducting illegal online gambling with the most severe being bank fraud and money laundering. According to the UIGEA, the funding of illegal gambling is a criminal offense therefore, since payments have been made from the casino to players, these operators are violating the law.

Payment Processors and the UIGEA

Due to this section of UIGEA, most online banks are weary of making financial transactions with online gambling sites. The payment processors used for financial transactions in the incident claimed to be online merchants that purchase various types of physical merchandise. According to legal experts, these are the primary aspects of the transactions that can get gambling operators into trouble.

Reaction from the Online Community

Of course the actions taken by the Department of Justice have been condemned by the online gambling community. The three poker rooms at fault have not yet released any type of statement. Additionally, no statements have been made from other online poker rooms that allow U.S.-based players. Legal professionals are advising players to wait and keep an eye on this situation.

This event was not unexpected as online gaming software providers Playtech and Cryptologic and payment processor Neteller all withdrew from the American market when the UIGEA was enacted in 2006. Microgaming followed two years later after the Kentucky domain name case began. It is unpredictable as to whether this particular event will cause additional flight by operators from the online gambling industry.

In March 2011, industry-leading online gaming software provided Cryptologic released its annual financial results. Shortly after, the organization hired Deloitte to conduct a strategic review of the company. Cryptologic indicated that this review could ultimately lead to the sale of the business, however, no discussions or agreements were currently underway.

Amaya Purchasing a 5 Percent Stake

Following this announcement was unconfirmed news that Amaya had acquired a 5 percent stake in Cryptologic prior to an acquisition bid. Based out of Canada, Amaya is an online gaming company that is active in the Kenyan market. Amaya recently acquired an online gaming license from the Dominican Republic jurisdiction and is planning to launch an online gaming site featuring a variety of casino games in the third quarter of 2011.

The Filing of an SC13D Notification

This unconfirmed news was finally confirmed the week of April 11^th when Amaya notified the stock exchange of this strategic move. On April 15^th, 2011 Amaya filed an SC13D notification which is a report of the acquisition of 5 percent ownership of a company. Amaya purchased 652, 170 shares of Cryptologic for slightly over 1 million USD. This is typically the beginning phase of an acquisition.

The Chief Executive and President of Amaya filed the statement to the stock exchange. The shares of Cryptologic were purchased between March 25^th, 2011 and April 7^th, 2011 at an average price of $1.65. The stock was purchased to facilitate a possible strategic transaction with Cryptologic. The executive further stated in the notification that Amaya is keeping all options open and will continue to monitor business performance and activity.

Playtech’s Purchasing Rampage

At the same time, Cryptologic’s largest competitor, Playtech, is on a purchasing rampage. The latest company in their scope is London-based online gaming provider, Ash Gaming. Media reports that Playtech is on the brink of an acquisition. This purchase is a strategy move to complement Gaming Technology Solution’s (also acquired by Playtech) EdGE platform which is currently used with several of Ash Gaming’s top games.

The acquisition of Cryptologic could be excellent for specific entities in the online gambling industry, especially Playtech and other online software developers. Since Cryptologic, Microgaming and Playtech are constantly competing to be the most popular developer, removing Cryptologic from the race could significantly improve the other two company’s profits depending on the direction Amaya plans to take the company.