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Bingo in Kansas might be in line for an injection of cash.

Organizers of charitable bingo operations reached out today to the Senate Federal and State Affairs Committee with a bill that would increase game prize limits, the frequency of events, compensation for volunteers and the value of drawing items.

“There is money to be made, not only for the nonprofits that run bingo, but to the state of Kansas as well. We pay taxes,” said Debi Kreutzman, who is part of a Sedgwick County charitable cooperative of organizations that hold bingo licenses.

However, officials of the American Legion and Veterans of Foreign Wars objected to proposed changes.

Charles Yunker, representing the American Legion, said Senate Bill 107 would tip the scale toward large, professional bingo parlor operators and away from the original goal of helping religious, veteran, fraternal and other civic organizations raise money.

He said the legislation “favors a few and will force many to stop offering bingo” because it would be too difficult to compete with high-dollar venues.

There are 318 active online bingo licensees in Kansas, but just 27 licensed bingo parlors.

Under the bill, the maximum cash prize for a regular bingo game would increase to $100 from $25. The existing $1 charge for a paper game card would be eliminated, allowing any price to be assessed.

The bill would allow an organization to play bingo three days a week. The current limit is twice a week.

State law would be amended to permit bingo parlors to operate seven days a week, with a 24-hour waiting period between sessions. Current law lets parlors conduct business three days a week.

The value of prize drawings would be capped at $500, a significant increase from the current $25 limit.

The bill would allow food to be given to volunteers, which should help in recruiting people to help at bingo events.

Sen. Pete Brungardt, R-Salina and chairman of the federal and state affairs committee, said the hearing on bingo issues would resume next week.

News Sources:-
Published Tuesday, February 3, 2009 at 1:08 p.m. CST
http://cjonline.com/stories/020309/bre_bingo.shtml

Gala Bingo's parent company, Gala Coral, has had its supplier insurance cover removed.

Suppliers to Gala Bingo have been told that they are no longer insured against the company going bust or into liquidation after credit insurer Euler Hermes suddenly withdrew the cover.

Drinks and food companies, free bingo ticket printers and slot machines manufacturers are likely to feel less comfortable about supplying to Gala Bingo and other Gala Coral businesses, including the Gala Casino chain and Coral betting shops, following the decision.

Gala Coral told the Financial Times that Euler Hermes' decision was “appalling behaviour” and came about as a result of their worry that many private equity-backed deals were struggling to meet huge debts.

The newspaper said sources close to Euler Hermes said the withdrawal of cover was linked to Gala Coral's debt problems and refusal to supply information.

Gala Coral has net debt of £4.3bn, and last year made a pre-tax loss of £397m. Its financial backers were forced to give the company an extra £125 million to prevent it from breaching debt covenants.

Neil Goulden, chairman of Gala Coral, said: “We have had absolutely no contact with Euler Hermes at any time. This is random targeting of private-equity companies, which is appalling behaviour by them, and the government should do something about it. We pay all of our suppliers on time. We are totally solvent and have £125m of cash in several banks.”

A gaming analyst told Bingo News: “Credit insurers didn't seem to mind taking the premiums when the economy was good and default levels were low. Now things are not so rosy they seem to be incredibly risk averse. It feels slightly like they are having their cake and eating it.”

News Sources:-
Posted by Debbie Archer on 3 February 2009
http://www.bingonews.com/1881/gala-bingo-insurance-cover-removed/?lang=all

If you're a player at the Betfred bingo site, you may have noticed a few changes of late. Although the owners didn't make a big announcement about it before it happened, the entire Betfred empire (which is associated mainly with being a sports book operator) has been sold.

Originally owned by the Done brothers, Fred and Pete, the whole setup has been sold for a reputed £27.2m and the online bingo game part of the business is now licensed from Gibraltar.

Betfred's Financial Director has said of this move, "We have sold the online business but we're bound by the terms of the deal not to reveal any more details. It made commercial sense, but with our new partners the Betfred brand will continue to go from strength to strength".

No need to worry

This change of internet bingo site means that your account will have been transferred to Petfre Gibraltar Ltd. You can check the terms and conditions of this new host at the Betfred site.

Although some bingo players may feel nervous about this changeover, with their open policy, we are convinced that players are not in any risk.

How we can help

The process for obtaining an operating license from Gibraltar is quite stringent, so there should be no cause for concern among any of Betfred's players.

Since we at the Hideout love to help our members with any problems, if you do encounter any difficulties as a result of this change that cannot be resolved by the Betfred site, do let us know and we'll do our best to help out.

We are happy to do this for all of our members no matter what site you're playing on. So drop us a line at the forum if you'd like us to look into any problems.

News Sources:- Bingo Hideout
Written by Lily
Monday, 02 February 2009