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Anger Grows as Football Index Issued New Shares in Players Days Before Major Changes

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The troubled online betting firm Football Index continued to “mint” and issue new “shares” in high-profile players just days before an announcement of big reductions in dividends which crashed its market on Saturday. The news is likely to add to the anger and frustration of thousands of Football Index’s customers, who are currently unable to sell their own shares to retrieve money from the exchange without suffering huge losses.

Football Index is a betting site, licensed by the Gambling Commission, but its platform mimics a stock exchange by offering customers a chance to buy “shares” in football players and then paying “dividends” according to their performance on the pitch. Users can also buy and sell shares between themselves using an “order book” system, again similar to one often used on stock exchange.

The value of shares across the exchange plunged on Saturday morning, when the market reopened having been suspended before Friday evening’s announcement that much-reduced dividends would be introduced from early next month.

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The firm’s monthly report on the number of shares in circulation, however, shows it sold 15,000 new shares in the eight most popular players on the exchange alone in February and issued nearly 300,000 new shares across the exchange as a whole.

The exchange issued 2400 new shares in Jadon Sancho to add to 921,509 already in circulation. The Borussia Dortmund player traded at an average price of £7 in February, suggesting revenue for Football Index of £16,800 from the new shares.

In all, taking a player’s average price over the month as a guide, Football Index could be expected to have raised up to £75,000 from sales of new shares in just eight players: Sancho, Neymar, Kylian Mbappé, Trent Alexander-Arnold, Paul Pogba, Bruno Fernandes, Mason Greenwood and Marcus Rashford.

Fresh shares were also issued in several more popular players on the site in February, including Lionel Messi, Erling Braut Haaland and Harry Kane. Football Index continued to issue new shares following an announcement by Mike Bohan, its chief executive, on February 18 that he would hold a Q&A session with the site’s users the following week, to discuss ways to improve its service.

The Q&A, seen by most users as a sign of positive moves to improve liquidity and bring some stability to the platform, was subsequently postponed and eventually replaced by a market update on March 5. This revealed Football Index’s new dividend structure, with most dividends reduced to 1p or 2p from a previous maximum of 14p.

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The “buy” and “sell” prices of all players dropped dramatically when the market opened a few hours later on Saturday morning. A share in Sancho cost £7.52 on Friday afternoon, but the buy price on Sunday was just 72p.

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Douglas Harrison

MotorCity Casino Hotel Promotes Douglas Harrison to Director of Slots

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MotorCity Casino Hotel has announced the promotion of Douglas Harrison to Director of Slots. Harrison brings over 23 years of technical and operational experience to his new role.

Since joining MotorCity in 2001, Harrison has been a key asset to the team, starting as a Technical Shift Manager. Over the years, he has excelled in various roles, including Slot Manager and Project Manager, successfully leading slot projects and developing strategies to optimize both operational efficiency and technical performance.

“I look forward to working with our talented team to enhance the guest experience and drive innovation within slot operations. I’m excited to introduce new ideas and further improve our slot offerings,” said Harrison.

“Douglas’ deep understanding of the Slot Operations and Slot Technical Departments positions him to lead every aspect of this critical area of the casino, ensuring sustained excellence and growth,” said Stacey Young, Senior Vice President of Casino Operations.

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The post MotorCity Casino Hotel Promotes Douglas Harrison to Director of Slots appeared first on Gaming and Gambling Industry in the Americas.

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AJ Mazza

Jamie Foxx Spotlights BetMGM Casino in New Commercial

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BetMGM, a leading sports betting and iGaming operator, is premiering its first online casino commercial featuring company brand ambassador Jamie Foxx. The 30-second spot entitled “Vegas Lights” showcases the relationship between the award-winning online casino and MGM Resorts International, with Foxx using the BetMGM mobile app to illuminate iconic Las Vegas experiences with each successive tap.

“BetMGM has been a phenomenal company to work with the past few years and creating this new commercial for their online casino was no exception. I love the way the spot turned out,” said Foxx.

“Vegas Lights” follows Foxx as he travels to several of MGM Resorts’ Las Vegas destinations including Bellagio, ARIA Resort & Casino and MGM Grand. The commercial emphasizes the connection between playing online and earning in-person rewards, such as show tickets and resort accommodations. Created by BetMGM’s award-winning agency of record, Highdive, the spot was directed by the award-winning duo, The Malloys, with Superprime, and shot with renowned cinematographer Jeff Cronenweth.

Casey Hurbis, Chief Marketing Officer, BetMGM, said: “Jamie Foxx is an extraordinary talent and a pivotal part of the way we showcase the best of BetMGM. This spot brilliantly captures BetMGM’s major differentiator of blending online and in-person casino experiences.”

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Mark Gross, Highdive Co-Founder and Co-CCO, said: “No one lights up Vegas like BetMGM and Jamie Foxx. Our new ‘Vegas Lights’ spot showcases how BetMGM Casino, and its real-life connection to Vegas, can make every moment feel like a win.”

The commercial will air in the five markets across North America where BetMGM Casino currently operates including Michigan, New Jersey, Pennsylvania, West Virginia, and Ontario.

AJ Mazza, Brand Director of BetMGM, said: “Jamie is a fantastic ambassador and opens up so many creative ways to unleash our brand. His energy and humor on set was irresistible, and it was an honor to collaborate with him.”

The post Jamie Foxx Spotlights BetMGM Casino in New Commercial appeared first on Gaming and Gambling Industry in the Americas.

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Boyd Gaming

Valley Forge Casino Resort Appoints Martha Morales as New VP and GM

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Valley Forge Casino Resort, a premier gaming and entertainment destination, announced the appointment of Martha Morales as its new Vice President and General Manager, pending regulatory approval.

Morales brings extensive leadership experience in the gaming and hospitality industries, most recently as Assistant General Manager of The Orleans Hotel and Casino in Las Vegas, a Boyd Gaming property. Prior to joining Boyd Gaming in 2023, she held various leadership roles at a major casino on the Las Vegas Strip.

Morales succeeds Ron Bailey, who has been appointed general manager of Boyd Gaming’s new casino resort development in Norfolk, Virginia.

“I am absolutely thrilled to join Valley Forge Casino Resort as General Manager and couldn’t be more excited for the opportunities ahead. The dedication and passion of this team are truly inspiring, and I look forward to working together to elevate the guest experience. Communication and collaboration are central to my leadership approach, and I’m committed to fostering an environment where every team member feels empowered to contribute and share their ideas,” said Morales.

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A graduate of the University of Nevada, Las Vegas, with a bachelor’s degree in Hotel Administration-Hospitality Management, Morales also holds an MBA from the University of Southern California. Throughout her career, she has been recognized for her leadership and industry contributions, including being named one of UNLV’s 50 Most Intriguing Alumni and a Las Vegas Inc. 40 Under 40 honoree. She was also honored by OutFront Media during Hispanic Heritage Month for her impact on the Latino community and was recently recognized as one of 2024’s Women Rising in Gaming by CDC Gaming and Global Gaming Women.

The post Valley Forge Casino Resort Appoints Martha Morales as New VP and GM appeared first on Gaming and Gambling Industry in the Americas.

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