Monthly Archives: August 2022

Cloud computing emerging as prominent solution for data analytics and storage in Central government – ETTelecom

Posted: August 15, 2022 at 6:06 pm

Representative imageWill Cloud Computing replace the traditional data centers and emerge as the prominent solution for data analytics and storage in government within this decade? Experts say 'yes'.

Known as the on-demand delivery of IT resources over the internet, Cloud computing practices are prevalent in the IT projects of the Central government. Cloud computing is slowly but steadily replacing the traditional data centers in the government.

Public-interface Central ministries are continuing to lead administration reforms using technology. Finance, railways, urban affairs, communication and home are among the departments already making an influential impact in G2G, G2C and G2E services while direct benefit transfer (DBT), driven by the finance ministry is among national schemes, complementing the government's vision, which is now popularly known as digital economy.

Satyajit Rao, senior general manager of the National Institute of Smart Government (NISG), a not-for-profit company incorporated in 2002 by the Government of India and NASSCOM with its head office in Hyderabad, asserted that Within this decade, Cloud computing would replace the traditional data centres and emerge as the prominent solution for data analytics and storage.

Capacity building in Cloud computing for Central and state government officials Fusing the two together, the National e-Governance Division (NeGD) of the Ministry of Electronics and Information Technology (MeitY) organized the first batch of capacity building programme in Cloud computing for government officials of Central line ministries, state/UT departments, mission mode project officers, e-Governance project heads and state e-mission teams.

The programme is designed to build capacities, within the government at both the Central and state levels, by adapting a synchronized approach to ensure the availability of adequate knowledge, appropriate competencies and skill-set to optimally utilise the huge benefits of cloud computing in e-Governance practices.

Projects with cloud computing offer integration management with automated problem resolution, manage security end-to-end, and help budget based on actual usage of data. At a national level, cloud architectures can benefit the government to simultaneously utilize resources optimally and also accelerate the delivery of e-services. Project 'Meghraj', for instance, is an initiative of the Government of India with the aim of GI Cloud (Meghraj) initiative to fast-track delivery of e-services in the country, while optimising information and communications technology (ICT) spending of the government.

Setting the context of the programme, Satya Meena, Director - Capacity Building, NeGD, said, Technology has been leapfrogging over the past two decades and one such technology rapidly scaling up is the Cloud-based systems driving businesses and touching every aspect of our daily lives. Anything that is available via the internet has the service being delivered out of a cloud-based application and IT Infrastructure.

The programmes course director, Satyajit Rao, Senior General Manager, NISG, asserted that Within this decade, Cloud computing would replace the traditional data centres and emerge as the prominent solution for data analytics and storage.

The workshop brought together an array of subject matter experts from the industry, the academia and the government to speak on key domain issues, such as Cloud fundamentals, Indias Cloud journey, Cloud building blocks, procurement of Cloud services, regulatory and policy framework for Cloud, challenges associated with Cloud implementation and future of Cloud on digital transformation, with engaging presentations on successful Cloud use cases.

Session discussions also featured essential training on various components of Cloud computing, such as custom bidding for Cloud services, the establishment of Pay-per-use and billing frequency with Cloud service providers, negotiation instruments for dynamic services under Cloud, best practices in Cloud procurement, focus on the Computing requirements, TRAI and MeitY guidelines on Cloud Computing and ITU global standards on Cloud Computing.

Witnessing attendance from 31 participants - mostly officers from Central Line Ministries, New Delhi and state governments of Delhi, Punjab, Haryana, Goa, Mizoram and Uttarakhand - capacity-building programmes on the theme of cloud computing would move forward with physical programmes to be conducted in the east, west and south zones of India this year.

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Data Center Construction Market Anticipated to reach $308.7 Billion by 2027: Grand View Research, Inc. – Yahoo Finance

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SAN FRANCISCO, Aug. 15, 2022 /PRNewswire/ --According to a recent report published by Grand View Research Inc., the global data center construction market size is expected to register a CAGR of 6.4% during the forecast period, reaching a value of USD 308.7 billion by 2027. The growth is fueled by the increasing demand for data storage and processing capabilities and the increased use of big data analytics. Furthermore, the growing trend of cloud computing and virtualization, along with the rise in digital transformation, is also contributing to market growth. Other significant factors driving the market growth include rising investment in infrastructure projects, increasing government spending on information technology, and greater demand from the enterprise sector.

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Key Industry Insights & Findings from the report:

The IT infrastructure segment is expected to register a CAGR of 6.3% over the forecast period as a result of the increasing demand for high-performance computing servers, storage capacity, and sophisticated networking infrastructure.

In Asia Pacific, the market is expected to witness high growth over the forecast period in line with the rapid development of IT and communication infrastructure and the continued rollout of 5G networks.

Key players focus on product innovation and introduction of new technologies to their portfolio. For instance, in June 2018, Huawei Technologies Co. Ltd. released Smart DC 3.0, a solution that leverages AI technology to manage cooling and the utilization of power and resources.

Read 110-page full market research report for more Insights, "Data Center Construction Market Size, Share & Trends Analysis Report By IT Infrastructure, By Power Distribution & Cooling Infrastructure, By Miscellaneous Expenses, By Tier Type, By End-use, By Region, And Segment Forecasts, 2020 - 2027", published by Grand View Research.

Data Center Construction Market Growth & Trends

The adoption of a software-defined data center in the healthcare industry is expected to drive market growth in the near future. There has been an increase in medical expenditures every year. The Institute for Health Metrics and Evaluation predicts that by 2040, healthcare spending will total USD 18.28 trillion, with high-income countries spending USD 9,019 per person. Despite the nascent stage that healthcare organizations are in with adopting modern IT infrastructure changes. Data management, networking, and server storage can be streamlined, unified, and improved by implementing a software-defined data center in the healthcare industry.

Story continues

Asia Pacific IT infrastructure industry expanded significantly during fiscal 2019. The increase in sales of networking equipment, such as switches and routers, handles this expansion. Businesses like Huawei Technologies Co. Ltd., Dell, and HP Enterprises have all contributed significantly to the expansion of the market in the area. The introduction of new products by these businesses in the servers and networking sectors has helped the IT infrastructure market expand throughout the Asia Pacific. Additionally, this region is receiving a significant investment from cloud service companies. For instance, Amazon.com invested USD 339.7 billion in its Indian data center and e-commerce businesses in February 2020.

Market Opportunities

Growing Adoption of Hyper-Scale Data Centers in Large Enterprises

The increased construction of hyper-scale data centers throughout the world to store large amounts of data is creating a lucrative opportunity for industry participants. Hyper-scale data centers are utilized in a variety of industries to enhance computing power, memory, networking infrastructure, and storage resources. The physical infrastructure and distribution systems supporting the data centers for optimizing cooling efficiency, and the capacity to extensively scale computing workloads effectively, are among the different elements of hyper-scale data centers.

Adoption of IoT, AI, And Intelligent Computing

Internet of things (IoT), AI, and intelligent computing are gaining popularity in a variety of sectors and industrial verticals, creating opportunities for market participants. Developing countries have invested in data center infrastructure as part of their efforts to automate the economy. These facilities have witnessed widespread use in areas such as BFSI, manufacturing, healthcare, and energy, among others. For instance, in 2020, Wiwynn unveiled next-generation Open Compute Project (OCP) servers to meet the growing demand for cloud computing, artificial intelligence, and high-performance computing.

Role of Key Players

The network infrastructure ecosystem is benefitting from government initiatives aimed at reducing barriers to cross-border operations. As a result, key players like Huawei Technologies Co. Ltd, AT&T, and Sky Telecom, among others, have been aggressively investing in rising economies in Latin America, the Middle East, and other regions to expand their business. These market players are securing contracts and tapping into new markets to increase their presence with technological advancements and product innovations. In addition, these key players are pursuing various strategic activities, such as geographical expansion, acquisitions, mergers, and collaborations. For instance, in 2020, MOX Networks, LLC, and Cologix declared a new partnership to provide connectivity solutions across North America.

Data Center Construction Market Segmentation

Grand View Research has segmented the global data center construction market based on IT infrastructure, power distribution and cooling infrastructure, miscellaneous expenses, tier type, end-use, and region:

Data Center Construction Market - IT Infrastructure Outlook (Revenue, USD Billion, 2016 - 2027)

Networking Equipment

Servers

Storage

Data Center Construction Market - Power Distribution & Cooling Infrastructure Outlook (Revenue, USD Billion, 2016 - 2027)

Power Distribution

Cooling

Data Center Construction Market - Miscellaneous Expenses Outlook(Revenue, USD Billion, 2016 - 2027)

Data Center Construction Market - Tier Type Outlook(Revenue, USD Billion, 2016 - 2027)

Data Center Construction Market - End-use Outlook(Revenue, USD Billion, 2016 - 2027)

IT & Telecom

BFSI

Government & Defense

Healthcare

Energy

Others

Data Center Construction Market - Regional Outlook (Revenue, USD Billion, 2016 - 2027)

North America

Europe

Asia Pacific

South America

Middle East & Africa

List of Key Players of Data Center Construction Market

Check out more related studies published by Grand View Research:

Data Center UPS Market - The global data center UPS market size is anticipated to reach USD 5.67 billion by 2020, at a registering a CAGR of 7.3% over the forecast period, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.3% during the forecast period. Increasing adoption of cloud computing services and soaring need for uninterrupted power to ensure efficient operations in banks, financial institutions, and businesses are expected to propel the data center uninterruptible power supply market.

Non-volatile Dual In-line Memory Module Market - The global non-volatile dual in-line memory module market size is estimated to reach USD 11.2 billion by 2027, registering a CAGR of 39.7% from 2020 to 2027, according to a new study by Grand View Research, Inc. The significantly growing number of data centers across the globe is the key driving factor. NVDIMM is a persistence memory module. The demand for non-volatile dual in-line memory module (NVDIMM) in enterprise storage application to prevent data from losses in a service outage is anticipated to bode well for the market growth. Additionally, high demand to reduce latency in storage and servers for data processing is further expected to propel the market growth.

Construction And Design Software Market - The global construction and design software market size is expected to reach USD 19.12 billion by 2030, growing at a CAGR of 8.5% from 2022 to 2030, according to a recent report by Grand View Research, Inc., The growing demand for effective tool management and development of digital capabilities such as the Internet of Things (IoT) and Building Information System (BIM) are the major drivers that are likely to create the need to adopt construction and design software across infrastructure and real estate industries. These digital capabilities help organizations automate, track, and manage budgets by managing construction projects and controlling costs across the operations. Thus, it allows organizations to increase profits and maximize efficiency by reducing risks and other issues. This is attributed to the rise in demand for construction and design software during the forecast period.

Browse through Grand View Research'sNext Generation Technologies IndustryResearch Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: 1-415-349-0058Toll Free: 1-888-202-9519Email: sales@grandviewresearch.comWeb: https://www.grandviewresearch.comGrand View Compass| Astra ESG SolutionsFollow Us: LinkedIn | Twitter

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Data Center Construction Market Anticipated to reach $308.7 Billion by 2027: Grand View Research, Inc. - Yahoo Finance

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Wiwynn to invest nearly NT$2 billion in Malaysia –

Posted: at 6:06 pm

By Lisa Wang / Staff reporter

Cloud computing equipment company Wiwynn Corp (), which counts Meta Platforms Inc as one of its key customers, is boosting capacity expansion in Malaysia through a new investment of about NT$1.94 billion (US$64.7 million), it said yesterday in a statement filed with the Taiwan Stock Exchange.

The investment, which aims to help the company with business development and strategic arrangements, would be made through subsidiary Wiwynn Technology Services Malaysia Sdn Bhd to build a new factory, Wiwynn said in the filing.

The announcement came about one-and-a-half months after the company started phase II of its new server printed circuit board assembly (PCBA) plant for cloud data centers at the Senai Airport City industrial development in Malaysias Johor state.

Photo courtesy of Wiwynn Corp

With the new server PCBA plant, Malaysia would become one of Wiwynns manufacturing hubs, providing complete services from PCBA to rack integration to address surging demand from hyperscale data centers, it said.

Wiwynn said it plans to complete phase I construction of the facilities a server rack integration plant in the first quarter of next year, followed by the PCBA plant in 2024.

Wiwynn is a subsidiary of notebook computer maker Wistron Corp (), which owns about a 44 percent stake in the server manufacturer.

Wiwynn, based in New Taipei Citys Sijhih District (), posted a record-high net profit of NT$3.56 billion last quarter, a 54.3 percent increase from NT$2.31 billion in the second quarter last year, the company said in a statement released earlier this month.

Earnings per share rose to NT$20.38 last quarter, up from NT$13.2 a year ago.

Revenue soared 46.62 percent to a record high NT$75.06 billion during the quarter ending on June 30, compared with NT$51.29 billion in the same period last year.

Wiwynn expected the growth momentum for cloud-based data centers to extend into the second half of the year, as companies accelerate digital transformation and adopt artificial intelligence applications, the statement said.

The company said it would continue investing in expanding capacity in Taiwan, North America and Southeastern Asia in response to market uncertainty and supply chain risks.

The company is also seeking closer collaboration with customers and supply chain suppliers to maintain resilient operations, it added.

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Entrepreneurs Organization of South Florida Partners with Todd Gilliland at Homestead – Jayski.com

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Entrepreneurs Organization of South Florida Partners withFront Row Motorsports at Homestead. Image from Front Row Motorsports.

Eight premier companies who are members of EO South Florida will collaborate to be the primary partners during the race weekend. The companies include:

ValidiFI A Specialty Consumer Reporting Agency which provides raw and modeled data that powers fintech credit and risk models.

Direct Colors The leader in Decorate Concrete, providing the largest selection of premium concrete colors and project guidance to DIYers and contractors worldwide.

Paw.com Award winning designer and manufacturer of high-quality, innovative pet lifestyle products.

Team Bennett Unishippers is a people business, who strives to train and develop our teams to grow from sales representatives to executives.

Gold Aviation Services With a fleet of next generation aircraft, Gold Aviation provides exclusive business class service for chartered flights, management, maintenance, sales, and acquisition.

Streeme.TV is a streaming television service that offers live and on-demand programming from more than 180 networks. Its wide range of programming from the largest networks to uniquely curated content, has led it to become the fastest growing provider of streaming television to college campuses in the US.

CloudHesive With a fast-growing team of 140 employees, CloudHesive is an Amazon Web Services Premier Consulting partner that delivers cloud computing services including cloud migrations and management, contact center modernization, end-user computing, DevOps consulting, and cybersecurity services.

GAINSWave The leader in sexual wellness, provides you with the high-performance fuel injection you need to cross the finish line.

EO South Florida is one of the largest chapters in the global Entrepreneurs Organization that allows forward-thinking entrepreneurs to have peer-to-peer networking. The NASCAR program with FRM allows the Chapter and its members to collaborate with the team and Gilliland to learn about the business of motorsports and grow their business with others in the sport while connecting with the millions of NASCAR fans.

We are so proud that the Entrepreneurs Organization South Florida Chapter and Front Row Motorsports, have partnered together for Homestead. This marks a first time in both Organizations history for a partnership of this type. Both Organizations are built on the values of hard work, competitiveness, and strong leadership, says Chapter President Lillian Roberts. I am thrilled to highlight eight amazing members that we are showcasing at this most prestigious race.

EO South Florida will host more than 50 members and guests at Homestead and enjoy VIP experiences, meeting the FRM drivers and team members, and learning the business of the team.

Ive spent time with EO South Florida earlier this year and its easy to see how each member benefits from each other, said Gilliland. They are like a family. I compare it to a NASCAR team with everyone working together for a common goal of success. I am looking forward to working more with EO South Florida and thank them for their support of my rookie season.

The partnership includes social media and promotion of each EO South Florida primary partner on the car. Fans will be able to follow FRM and its driver social media channels throughout the remainder of the year to learn more.

Front Row Motorsports

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Benefits and Drawbacks of Serverless Databases – ITPro Today

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You've heard of serverless computing, which lets you deploy applications without worrying about the underlying infrastructure. But did you know that you can also take a serverless approach to databases?

If not, read on for a look at how serverless databases work, why they are becoming popular, and which serverless database options dominate the market at present.

Related: Cloud Computing Sustainability: How Green Is the Cloud?

A serverless database is a database that lets you store, manage, and analyze data without having to manage the underlying host infrastructure.

In other words, when you use a serverless database, you just load your data and run queries on it as you wish. You don't need to worry about ensuring that there is enough storage space to accommodate your data. You may also not need to figure out how to structure or partition the data to ensure optimal analytics operations. These tasks are handled for you by the database provider.

Related: 5 Myths About Cloud Pricing

To be clear, serverless databases have underlying infrastructure. But that infrastructure is managed by someone else namely, the vendor of the serverless database platform rather than users. So, from the user's perspective, the server essentially doesn't exist.

The same is true of serverless computing, which also eliminates the need for users to manage the underlying infrastructure when deploying applications. Indeed, the serverless database concept was inspired by the serverless computing trend, which was popularized by the launch of AWS Lambda in 2014.

That said, it's important not to confuse serverless databases with serverless computing. They are different types of solutions focused on solving different problems. Serverless compute platforms let you deploy applications; they are not designed for data storage or analytics. Likewise, a serverless database can't host your app. It can just host your data and support analytics operations.

Compared with conventional databases, which require users to set up and administer host infrastructure, serverless databases provide several core benefits:

On the other hand, serverless databases have some potential downsides:

As the serverless database concept grows in popularity, an increasing number of vendors are offering serverless database solutions. Popular platforms include:

Serverless databases aren't right for every data analytics use case. But if your data storage and analytics requirements scale up and down frequently and/or you don't want the hassle of managing your own database infrastructure, serverless databases offer a database solution that will be simpler, and possibly also more cost-effective, than conventional database platforms.

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Earnings roundup: What you need to know about local companies – San Antonio Express-News

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Welcome back to Earnings Roundup, SA Incs weekly summary of the latest financial reports from companies of local interest. Look for it online Monday during quarterly or annual earnings reporting periods.

This weeks roundup of second-quarter financial reports includes several South Texas-based public companies, including Victory Capital Holdings, TaskUS, Rackspace Technology and XPEL, as well as some based elsewhere with significant local presences.

Rackspace Technology Inc., the Windcrest-based cloud computing company, reported a widening loss in the second quarter despite an 11th consecutive quarter of revenue growth. The company said its likely to announce a sale of part of itself this fall.

Net income: Loss of $41 million in the recent quarter vs. loss of $37 million in the same quarter last year.

Revenue: $772 million vs. $744 million last year.

Quotable: We are nearing the point where we can provide additional details on our go-forward game plan, including any additional decisions regarding the structure of the company, later this fall. CEO Kevin Jones

NEW BRAUNFELS TaskUs Inc., a provider of technology services, said first-quarter revenue jumped nearly 37 percent as it continues to grow globally. But it also eliminated 500 jobs while clients seek to reduce costs amid downturn in cryptocurrency and equity trading markets.

Net income: Profit of $7.7 million in the recent quarter vs. loss of $106 million in the same quarter last year.

Revenue: $246.5 million vs. $180 million last year.

Quotable: While we delivered strong results, we are seeing the impact of our clients shifting their focus from growth to cost optimization. CEO Bryce Maddock

Asset management company Victory Capital Holdings Inc. reported lower revenue on a decrease in assets under management, but it still turned a higher profit in the second quarter ended June 30. It closed the quarter with almost $154.9 billion in assets under management, down from $161.9 billion a year ago.

Net income: Profit of $79.2 million in the recent quarter vs. profit of $69.3 million in the same quarter last year.

Revenue: $216 million vs. $221.9 million last year.

Quotable: Periods of volatility create unique opportunities for actively managed strategies, and as a result, our investment performance continues to be excellent. The resiliency of our operating model is also on full display during these historically challenging market conditions. CEO David Brown

XPEL Inc., which makes protective films for cars and windows, saw its stock price rocket after it posted record second-quarter revenue. CEO Ryan Pape said most of XPELs company-owned facilities saw strong demand, which generally means our aftermarket customers are also continuing to see strong demand in their shops.

Net income: Profit of $11.9 million in the recent quarter vs. profit of $10.2 million in the same quarter last year.

Revenue: $83.9 million vs. $68.7 million last year.

Quotable: Manufacturers have been more bullish in their expectations for new car production recovery in the second half. So this is a potential upside benefit for us. CEO Ryan Pape

ARLINGTON Six Flags Entertainment Corp., the parent company of Six Flags Fiesta Texas, said revenue and profit decreased in the second quarter as attendance plunged and prices rose.

Net income: Profit of $45.4 million in the recent quarter vs. profit of $70.5 million in the same quarter last year.

Revenue: $435.4 million vs. $459.8 million last year.

Quotable: This is a transitional year for Six Flags, as we reset the foundations of our business model. CEO Selim Bassoul

SALT LAKE CITY BRC Inc.s revenue rose in the second quarter as receipts from its wholesale and store channels increased, though direct-to-consumer sales dipped. Its net loss included $34.3 million attributable to noncontrolling interests stemming from a stock transaction in February.

Net income: Loss of $45.1 million in the recent quarter vs. loss of $5.3 million in the same quarter last year.

Revenue: $66.4 million vs. $52.4 million last year.

Quotable: Weve seen our customer shift their spending habits post-COVID from online to in store. CEO Evan Hafer

HAMILTON, Bermuda Argo Group International Holdings Ltd., a specialty insurer with U.S. headquarters in San Antonio, blamed investment and other losses totaling $40.4 million including a $21.3 million loss on the sale of its Malta operations for its net loss in the second quarter. It reported lower premiums as it has exited businesses.

Net income: Loss of $18.9 million in the recent quarter vs. profit of $67.1 million in the same quarter last year.

Revenue: $443.2 million vs. $547.7 million last year.

Quotable: Looking ahead, we believe the company continues to be well-positioned to deliver profitable growth. Interim CEO Thomas Bradley

SEGUIN Industrial equipment dealer Alamo Group Inc. reported record results for the second quarter, even as the company said it saw weaker demand from customers in agriculture amid the broader economic downturn. Profits were 9 percent higher than a year earlier, while the companys revenue jumped 14 percent.

Net income: Profit of $28.5 million in the recent quarter vs. profit of $26 million in the same quarter last year.

Revenue: $396.2 million vs. $347.6 million last year.

Quotable: Our backlog remains close to the historic high set at the end of the first quarter of 2022, and the margin in backlog is increasingly healthy. CEO Jeff Leonard

Advertiser Clear Channel Outdoor topped its own quarterly estimates with revenue 21 percent higher than the same period last year. The company said it will explore a sale of its lower margin advertising assets in Europe.

Net income: Loss of $65.6 million in the recent quarter versus a loss of $124.6 million in the same quarter last year.

Revenue: $643.4 million vs. $531.1 million last year.

Quotable: Our strong performance was once again led by our digital assets, which are becoming a greater contributor to our results as we advance as a visual media powerhouse targeting consumers on the move. CEO Scott Wells

Radio and podcasting giant iHeartMedia saw revenue increase 11 percent as it reversed heavy losses in recent years to turn a second-quarter profit. Sponsorship revenue increased the most as the companys live events business emerged from the pandemic over the last year.

Net income: Profit of $15.2 million in the recent quarter vs. a loss of $31.9 million in the same quarter last year.

Revenue: $954 million vs. $861.6 million last year.

Quotable: The investments weve made and will continue to make present significant opportunities for the company to participate in exciting new and developing markets. CEO Bob Pittman

Rising expenses cut into the bottom line of electronic payment processing services company Usio Inc.s second-quarter financial results, despite it registering an eighth straight quarter of increasing revenue. The company expects expenses will start to decrease this quarter.

Net income: Loss of $1.9 million in the recent quarter vs. profit of $218,483 in the same quarter last year.

Revenue: $16.2 million vs. $15.2 million last year.

Quotable: Revenue growth in the quarter was driven by new all-time quarterly records in credit card dollars and transactions processed, strong year-over-year growth in prepaid card volumes and transactions. Results once again demonstrate the strength of our diversification strategy as we achieved growth despite weakness in one of our end markets, cryptocurrency. CEO Louis Hoch

Biglari Holdings Inc.Biglari Holdings Inc., the San Antonio parent company of Steak n Skake, reported almost $109 million in investment losses in the second quater, which resulted in a wider loss despite it posting slightly higher revenue. As of June 30, 41 of is 176 company-operated Steak n Shake restaurants were closed. It plans to franchise many of the closed stores.

Net income: Loss of $73.8 million in the recent quarter vs. loss of $20.7 million in the same quarter last year.

Revenue: $92.4 million vs. $90.8 million last year.

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Do You Have To Pay Tax On Your Casino Winnings In Canada? – Colorado Hockey Now

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Taxes are usually the last thing on your thoughts while youre betting on a football match or at the poker table. However, it is critical to understand the fundamental tax implications of gambling, especially in no wagering casino Canada. This brief tutorial clarifies whether gambling winnings are taxed as income. Each scenario is distinct, and if you are wagering and believe your earnings may or may not be taxed, you should check with a lawyer.

Normally, determining income is a difficult process, but for the sake of gambling, it is considerably easier. Betting revenue will be either a non-taxable windfall gain or taxable business income. To be classed as commercial income, the payer should have had a realistic expectation of profit-driven on their ability, consistency, and aim. Unexpected earnings, on the other hand, are regarded as windfalls. Finally, whether no wagering casino Canada money is classed as income or not is determined by whether the taxpayer anticipated benefiting from their gaming on their best gaming PC or other gadgets.

Even with varied tax rates for taxable prizes, Lottery winnings are not included in your tax-liable wins. Lottery, unlike poker, is regarded as a pure chance activity. Poker may need particular knowledge and ability to progress and win several times, hence the tax. However, the lottery is based on chance. The number combos on the draw, and hence the tax exemption, are never known. Furthermore, the only way to boost your odds is to buy additional lottery tickets. In this instance, professional lottery participants are likewise free from incurring taxes on their profits.

Casinos in Canada are licensed by provincial officials. Seven out of ten provinces allow some type of gaming. Ontario has at least 25 gaming institutions, making it the province with the most licensed businesses. The Kahnawake National Reserve plays an important role in the countrys gaming sector. While most businesses struggle to obtain a license in the country, businessmen from First Nations Tribes have an easier time opening casinos.

Internationally, the majority of casinos having servers in Canada also have them based on the Kahnawake reserve. This is despite the fact that, except under exceptional circumstances, Canada does not approve remote gambling licenses. Fortunately, the government does not forbid Canadians from playing at international casinos. You may join any internet gambling site and play slots or table games with no fear of government repercussions. And if you win cash, you may keep it without paying taxes. That type of thing does not occur in many nations.

The Canadian Income Tax Act describes a professional player as someone whose only source of income or livelihood is gaming. This person employs their expertise on a gaming platform to generate long-term income or profit. The Income Act is why poker enthusiasts and specialists become professionals while participating in professional gaming events such as the Poker World Tour. Professional bettors make the majority of their money by playing a game of chance or luck, both online and offline. Anyone earning such a salary is required by the government to pay taxes. It is also the cause why gaming establishments must plan and report their revenues for tax purposes!

The participants in the activity for amusement reasons are free from the tax rule. The government argues that taxing wins would be unkind and unfair to most Canadian gamblers. The fundamental reason is that Canadians play for entertainment or to spend time, and wagering is not a job. As a result, gamers can pay taxes on their property, work possibilities, and any revenue derived from reputable and well-known sources. Even though they are free from taxes, Canadian gamers must declare their gains on the T5 form.

Canada is a large country with many provinces. Each region is a separate entity with its self-governing agencies and gaming regulations. Whether or not you must pay taxes on casino earnings is determined by your location. The age restriction, games available, and other restrictions differ from province to province. Tax rates vary as well. If you are a Canadian who gambles in the United States, you must pay a 30% tax on the casino earnings.

Winnings taxes might sometimes be as much as half of the money gained during your gaming session in different provinces. While playing in the United States, players must report their earnings. When you pay out your winnings, the tax is collected automatically at the cashier. Canadian people lawfully operating in the United States are well off since their losses are deductible.

According to the Income Tax Act, a Canadians liability for paying taxes is to be a professional. However, many people do not understand when the Canadian Revenue Authority identifies an individual bettor as a professional. Only a few situations have a clear-cut line, while others appear muddled. Furthermore, the converse has occurred, with individuals claiming to be professional bettors in order to write off gambling losses. But are wagering losses tax deductible? It might be (Yes and No). Others will argue that it depends if you are a skilled or recreational bettor in Canada.

If you play for the excitement and satisfaction of it, you will suffer losses that are not tax-deductible. However, if you play like a pro and keep track of your games, you might get a tax break when you file your taxes. However, if you have recently paid your taxes, you should consider requesting a tax refund. Furthermore, professionals are freelancers, and unlike other enterprises, professionals can deduct game-related expenditures. For example, tournament costs or other transportation and lodging expenditures!

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Do You Have To Pay Tax On Your Casino Winnings In Canada? - Colorado Hockey Now

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Hard Rock Casino generates nearly $12 million in revenue – Kingsport Times News

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Account Suspension: Why Can’t I Get in? If the Casino Account is Blo – FTNnews.com

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Account blocking: Suddenly nothing works anymore the player account in the non GamStop casino is blocked, login is not possible. What could have happened? And how can this be repaired? We give a few answers here.

"Your account has been suspended, please contact customer support" such or similar messages do not bode well. In many cases, users of non GamStop casinos are even completely surprised when they try to sign up and then nothing works. Players are not always to blame for the suspension of the account. But what actually happens to the credit?

There are often - but not always - good reasons why a player account is suddenly blocked. Often, when trying to log in, a corresponding message is displayed or there is an e-mail from the casino operator. Sometimes, however, "only" the login with username and password does not work.

What can be the reasons for such account suspension? All options are usually listed in the general terms and conditions of the non GamStop casinos and it should also be well explained at that point under which conditions a blocking takes place.

As a rule, the account closure serves either to protect the casino or the game library or that of the individual or all players. Some are limited in time, but others have to be unlocked first. We give an overview.

Suspicion of Attempted Fraud in non GamStop Casinos

One of the main reasons why casinos not on GamStop ban players' accounts is that they suspect attempted cheating.

Note that we did not say an attempt to cheat, but only an attempt to suspect. To avoid this risk, casinos not on GamStop require players to open only one account per household and IP address.

This way the player cannot abuse the bonuses or put pressure on the casino servers. However, some cases of suspicion are minor, and can be easily addressed by contacting the customer service of a casino without GamStop.

For example, a player may attempt to withdraw bonus credits to their bank account, an indirect link to other accounts, similarity of names, and other cases as well. Also note that the use of a commercial banking method is strictly prohibited in casinos without a GameStop, even if you own it completely.

Deliberate Fraud in Non GamStop Casinos

Many casinos not on GamStop hedge against seasoned gamblers and gaming systems. You can find this clearly stated in all casinos. All gambling sites don't like players who make their living from gaming, although Las Vegas casinos do!

Deliberate fraud also includes a ban on 'low stakes' bets or specific betting strategies such as the martingale system and reverse martingale systems.

You should not test the casino's ability to catch you simply because all these things are monitored and evaluated by automated procedures.

Consequences of Deliberate Fraud in Non GamStop Casinos

The consequences of applying any of the intentional scams range from a withdrawal of earnings to a warning of a complete account suspension. Therefore, if you know anyone who intends to choose a casino not on GamStop to carry out their cheating tricks, you should warn them of serious consequences

The classic without any evil intent is, of course, that you have entered the wrong password or the wrong user ID. The standard is three attempts - as with the ATM - to enter the correct access data. Of course, something can go wrong because of all the passwords that you use in a variety of places.

In most cases, after the third failed attempt, the account is at least temporarily blocked. Under certain circumstances, however, you may also have to have the account unlocked again. More on that below.

Actually, you should neither write down passwords nor use password storage tools if you attach great importance to data protection. The small black book can still be helpful with many passwords - if it is kept well closed. Secure passwords consist of combinations of numbers, upper and lower case letters and special characters but have the disadvantage that you often simply cannot remember them.

The account closure after incorrect entry of the access data serves to protect the players. Thus, hack attempts can be at least somewhat curbed by trial and error or by automatic input algorithms.

Whose account is suspected of spreading spam, giving the impression of having been hacked or that the IP address appears in connection with denial of service or other digital attacks (viruses, worms, etc.), whose account is likely to be permanently blocked.

At the latest when it comes to cashing out a profit, the identity data must usually be verified. In some casinos not on GamStop, the identity is checked before the first deposit. However, this is not the rule. If there is a difference during the examination between those stated during signup and those in the identity card, for example, it may be that the casino blocks the account.

If it is an easily enlightened tipster in the "hustle and bustle", it should not be a problem to have the account unlocked again.

It is worse if incorrect data has been intentionally provided. Then usually not only the player account is blocked, but certainly also the earned profit is gone.

Incorrect information often concerns age. Gambling at non GamStop casinos is by law not allowed for minors. The terms and conditions of the casinos therefore usually stipulate that all actions taken by minors are considered void, all winnings expire and bets are repaid. In foreign online casinos, the minimum age may be 21 instead of 18.

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