Monthly Archives: August 2021

Month: August 2021 iGB Diary: North Korea, Love Island, Lottoland lobby, Bet365 stateside

first_imgiGB Diary Read all about it: North Korea, Love Island, Lottoland revisted, and Bet365’s plans stateside iGB Diary: North Korea, Love Island, Lottoland lobby, Bet365 stateside AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: iGB Diary Happy Friday igamers! We have prepared you a special prize for surviving a rare springtime five-day week! This week we hear about North Korea’s casino ambitions, bask in the glory of Love Island’s success, revisit Lottoland, and ponder Bet365’s plans stateside. Enjoy!Casino boom Fancy a little holiday in North Korea? Thanks to the diplomatic efforts of his disloyal hair-mess Donald Trump, maybe you can. Tourists could soon be winging their way to the Wonsan-Kalma coastal region of everyone’s favourite dictator state, where the regime would like to build a US-funded resort and casino complex. Delightful. Kim Jong-un is reported to have visited the proposed construction site last month, having first floated the idea in January. Meanwhile, Kim Jong’s top aid Kim Yong Chol is understood to have discussed the project with Mr Trump in a meeting recently. Casino Review wrote this week that the project is scheduled for completion by 15 April 2019 and is expected to generate annual revenue of $50m. It also suggested that a rise in the share prices of South Korean casino operators Paradise Co and Grand Korea leisure could be down to speculation that they are backing the project. The Diary is on the phone to Thomas Cook now. Who doesn’t want to kick back in a brand new casino resort surrounded by abject poverty and nuclear bunkers?TV bandwagon If you’ve been living under a rock for the last month, you may have missed the return of ITV2’s tribute to tawdry teenage trysts: Love Island. The show, which is in its fourth season, attracts just shy of three million viewers per night. If you can piggy back that kind of following, it’s probably not a bad idea. Little surprise then that Gaming Realms has built on its relationship with ITV to leverage the Love Island brand through a dedicated platform, https://www.loveislandgames.com, and suite of themed games. Such deals have contributed to Gaming Realms’ first year of profitability being announced this week, so one must not poo-poo them out of hand. IWG has also launched three games based on the reality TV dating format. “With millions of viewers tuning in each night to find out the latest gossip from the island, we’re confident players will find these new games and their features blistering,” said IWG chief commercial officer Leon Thomas in a statement this week. Sounds like an unpleasant side-effect, but no doubt Love Island fans have an ointment for that.Lottoland lobbying rolling on ’til bitter end No one could accuse Lottoland of giving up without putting up a good fight. Ahead of Australia’s Senate debating the bill to ban all secondary lotteries, which could happen as soon as mid-June depending on what else is on the parliamentary agenda, the company has launched yet another media offensive to try and turn the tide of political opinion. Yesterday it announced it had gathered 15,800 signatures for a petition calling on the Federal Government to drop the legislation it has introduced to ban Lottoland and its peers, which has already passed Australia’s lower house. Although we’re not sure the number of signatures is actually “staggering” as the lottery giant claims, particularly in the context of its 700,000 customers Down Under and the country’s 24m population, it was enough to allow for a good swipe at its monopoly rival Tatts. “To put this in perspective, it took three weeks less to receive a thousand more signatures than the ‘Lottoland’s Gotta Go!’ campaign, which was driven by a $5 million national smear campaign by Tabcorp-Tatts to con MPs into handing them an indefinite monopoly,” said Aussie CEO Luke Brill in a media release. Whether or not a bunch of signatures will make any difference in the debate remains to be seen, but it’s unlikely we’ll have to wait too much longer to find out.Everyone and their dog The Buffalo News reported this week that one global player lobbying hard in the New York State capital of Albany ahead of the frantic efforts to pass sports betting bill by the time the session ends on 20 June is Hillside (Sports) GP, which gives an address near the rock of Gibraltar but is “part of a larger conglomerate based in central England”. Hillside is of course Bet365, and the report says they are forking out $15k a month alongside The Stars Group, the local casinos and racinos, the tribes, the leagues… every kind of potential stakeholder you can shake a stick at basically. Bet365 is of course present just about everywhere in the world apart from the US, so pulling this one off would edge them towards becoming the first truly global pure online operator. The big US casino groups’ ties to junket operators in Macau may play in their favour when it comes to passing muster with regulators, so could we see a Bet365 skin running off one of the NY casino licenses in 2019? Either way, Bet365 has understandably decided it’s worth a punt and who can blame them, making the unfolding sports betting play in Albany and NY that little bit more intriguing.Have an awesome weekend! 8th June 2018 | By Hannah Gannage-Stewart Subscribe to the iGaming newsletter Email Addresslast_img read more

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Month: August 2021 M&A watch: The end of the mega deal?

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Finance Some commentators suggest blockbuster transactions have had their day but RB Capital’s Ben Robinson sees more big-ticket M&A ahead M&A watch: The end of the mega deal? Subscribe to the iGaming newsletter Tags: Online Gambling 30th October 2018 | By Stephen Carter Finance Some commentators may suggest blockbuster transactions have had their day but RB Capital’s Ben Robinson sees many reasons to look forward to more large scale M&A actionIn the post-dotcom era, a handful of technology companies (such as the likes of Alphabet and Amazon) have risen to the mythical status of unicorn ($1bn+ valuation), or even super unicorn ($100bn+).The huge publicity swirling around these companies makes it tempting to see the rise of unicorns as a growing trend. However it is also important to bear in mind that, as the fairytale-inspired name first coined by the venture capitalist Aileen Lee suggests, they are still exceedingly rare, with only 0.07% of startups ever reaching such status.This is especially true in the gaming industry. Only a handful of companies in this market have ever been able to claim multi-billion-dollar valuations. And In almost all cases, they are publicly listed operators that have only broken the billion-dollar benchmark through one or more significant key acquisitions:Billion-plus gaming Unicorns (market caps) Stars Group CA$8.7bn (£5.2bn) GVC £5.34bn Paddy/Betfair £5.32bn IGT $4.3bn SG Digital $2.3bn William Hill £2.16bn Kindred (23.3bn SEK) £2bn Playtech €1.55bnConsolidation among the big players in the sector has accelerated in recent years, with mega deals materialising principally for the following reasons:(i) an emphasis on squeezing out the competition (ii) expansion into new territories via large scale mergers (iii) landgrabs in regulated markets (iv) forward-thinking regulatory opportunities in emerging (and soon to be regulated) marketsThese drivers have seen Paddy-Power Betfair, GVC, and the Stars Group all successfully execute multi-billion-dollar deals to consolidate dominant market positions and play on a more global scale, particularly with the sportsbook-led opening of the US.European markets, according to Thompson Reuters Intelligence research, have seen a resurgence in cross-sector mega deals, with the value of M&A activity doubling year-on-year in the year to date. The number of transactions has however fallen by 18% to 6,201, the lowest level since 2005.So, outside of gaming, fewer companies have been buying, but with deeper pockets.The same can’t be said for gaming. RB Capital’s M&A Monitor data has highlighted a fluctuation in €500m-plus mega deals (see table), with €32.6bn spent in the last four years, a flurry of five huge acquisitions materialising every 24 months, and a minor downward trend in deal-size from 2015 to the present day.$500m+ mega deals since 2015 (Source: RB Capital) Both 2016 and 2018 have seen the largest splurges with €20.5bn spent on deals two years ago, including the two mammoth mergers of Ladbrokes-Coral and Paddy Power-Betfair, while 2018 so far (total spend of €10.6bn) has had a distinctly new market feel about it. This year has seen Paddy Power again active in acquiring US fantasy sports brand FanDuel, the Stars Group splashing out €4bn to purchase Skybet and GVC coming back for more following its 2017 Bwin completion by acquiring the less than two-year-old merged Ladbrokes Coral business.Some have suggested blockbuster transactions have had their day with the most significant deals already done, and those businesses now predicted to pursue more organic growth strategies. But there are many reasons why we can look forward to more M&A action. Just the beginning The number of mega transactions may have fluctuated in recent times but there is still huge value to be driven across an array of growing assets.Around five years ago, most deals in the UK and Europe were driven by a mission to boost or establish scale or rapidly gain first mover market share in regulated or soon-to-be regulated markets. However, most 2018 deals have been driven by the promise, and now growing reality, of US state-by-state regulation.Although it is early days for other states to jump on the bandwagon, investor appetite from US operators and European suppliers has been intense. And with ‘real’ revenues now  coming through Nevada ($247m in wagers), New Jersey ($100m) and even Delaware turning a tidy £17m in bets in August, this is only set to continue.We are also, remember, still in what is traditionally deemed the ‘quiet period’ ahead of the busiest months for sportsbooks of October and November, when all four major US sports’ biggest events coincide.Crucially, there has been a shift in the structure of recent transactions and we have seen a spike in interest from private equity and venture capital firms as several states open for business and others look to follow suit.Sportradar and Genius Sports have both been the focus of VC/PE investment that aims to capitalise on US market expansion. Interestingly both offer data services, which savvy investment firms know will always be in demand and thus offer stable and consistent annuity revenue unaffected by high customer acquisition costs, taxes and/or levies. They will also be invaluable when aiming to engage and retain existing players and acquire and attract a new, younger mobile-first audience.These are far from small deals. The Canada Pension Plan Investment Board has teamed up with growth equity firm TCV to part with more than $700m in exchange for a 39% stake in Sportradar.Renowned PE investor Apax Partners, that has previous gaming experience investing in, and since exiting, Candy Crush developer King, went one step further by swallowing up sports data and media rights distributor Genius Sports Group with the capital injection allowing it to pursue its international expansion strategy, largely in the US.We expect these types of structured deals to continue, especially around data-driven software suppliers and fast-growing platform providers, with exit valuations that will tempt even the most risk averse PE/VC firm given their medium/long- term outlook.The potential of a larger-scale re-regulated US gaming and betting market is finally turning heads.As much attention has been focused on cross-Atlantic activity in recent months, we should also have a last word on European M&A. It is worth remembering that the ever-changing nature of markets here, alongside several other factors, is likely to encourage further M&A and potentially far more mega deals than in the US.The first driver lies in the regulatory pressures in dot.country markets and continued regulation throughout Europe. This is taking place in both regulated markets (such as the overly saturated and increasingly volatile UK), maturing regulated markets such as Italy and Spain and recently regulated or regulating markets in regions such as Eastern Europe.Next year will see the UK and various licensed jurisdictions such as Gibraltar, Alderney and the Isle of Man come to grips with an unclear and worryingly uncertain future outside the European Union.Also several operators managing increasingly severe financial regulatory fines for repeated marketing abuses which may drive them to sell or divest certain assets. Huge competition will almost certainly push an increasing number of smaller brands and suppliers to speed dial the right sell-side brokerage.Other markets such as Italy (with reputable brands still working out how to market products under a draconian advertising ban) and Spain that has proven hard to operate in but is showing glimmers of promise, will see M&A as a medium-term option to either get out for good or remain and claim more market share.But large-scale action won’t be happening any time soon, not until the respective legislations reach agreeable middle-ground.And lastly, newly regulated and regulating markets including the likes of Romania, Czechia, Bulgaria, Poland and others.Expect a return to the good old landgrab days with larger, experienced mega-deal brands such as GVC already making moves into places such as Georgia with an eye to the future and educated, mobile and tech savvy audiences.Others are sure to follow but now that some of the major mega deals have been done, gaming companies will find it increasingly harder to compete and are even less likely to become Unicorns.In summary, over the next 18-24 months expect ever more creative acquisitions Stateside as buyer risk starts to fall in the face of medium-term gains.On this side of the pond we anticipate a flurry of short-term UK-based activity with players exiting whilst they’re (pre-Brexit) ahead.Medium-term M&A is expected to be strong for central and southern Europe. And the Nordics will (as always) be at the mercy of longer-term pension fund trackers. The M&A market will remain flush with activity for a good time to come. So watch this space.Ben Robinson is co-founder of boutique advisory firm RB Capital, focused on the igaming, fintech and media sectors; working with start-ups and scale-ups looking to raise capital, but also established businesses looking to take their business to the next level or initiate a liquidity event. Related articles: M&A watch: Regulated vs. grey Email Addresslast_img read more

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Month: August 2021 Wynn terminates Crown acquisition talks

first_img Regions: Oceania Australia Casino & games 10th April 2019 | By contenteditor Tags: Card Rooms and Poker Slot Machines Topics: Casino & games Strategy Poker Slots Table games Subscribe to the iGaming newsletter Las Vegas-based casino giant Wynn Resorts has abruptly terminated discussions with Crown Resorts less than a day after announcing that it was looking to acquire the Australian gaming operator.Wynn said the preliminary discussions over a possible AUD$10bn (£5.5bn/€6.3bn/$7.1bn) deal had been disclosed prematurely, with talks now cancelled.With discussions at such an early stage the exact structure of the transaction had not been agreed, though Wynn was proposing an offer comprising 50% cash and 50% Wynn ordinary shares.The deal would have seen Wynn take charge of Crown properties such as its casino resorts in Sydney, Melbourne and Perth. It could also have assumed ownership of the operator’s 50% stakes in Crown London Aspinalls and Betfair Australasia, Australia’s only betting exchange.Shares in Crown Resorts closed down 9.11% at AUD$12.77 per share following the news, with shares in Wynn Resorts down 3.86% at US$139.26 per share at close in New York. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Wynn terminates Crown acquisition talks Las Vegas-based casino giant Wynn Resorts has abruptly terminated discussions with Crown Resorts less than a day after announcing that it was looking to acquire the Australian gaming operator. Email Addresslast_img read more

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Month: August 2021 Spelinspektionen penalises licensees for under-18s betting

first_img Tags: Online Gambling Subscribe to the iGaming newsletter 1st July 2019 | By contenteditor Swedish gambling regulator Spelinspektionen has handed official warnings and penalty fees to eight licensed operators for allowing wagering on sporting events featuring a majority of participants under the age of 18.Flutter Entertainment’s Betfair International, Bethard Group, Casinostugan, GVC’s ElectraWorks Limited, bet365 operator Hillside (Sports) ENC, Polar Limited, The Stars Group Interactive and Gaming Innovation Group’s Zecure Gaming Limited have all been found in breach of regulations.Licensed operators are not permitted to offer odds on events where the majority of participants are under the age of 18, as this is seen to increase the danger of minors being exposed to attempts to manipulate sporting results.Spelinspektionen said it considers any breach of this rule a serious offence and, as such, the regulator has issued penalties and warnings to all of the named operators.The Stars Group and Hillside were the hardest hit, with the regulator handing a penalty of SEK10m (£848,313/€949,151/$1.07m) to each of the operators. Hillside was found to have offered odds on five football matches in which a majority of players were aged 18 or under, while The Stars Group was found to have done so on two occasions. Betfair and ElectraWorks, the operator behind bwin.se, were handed penalties of SEK5.5m. Betfair was found guilty of one breach of regulations, and Electraworks of three breaches. Casinostugan and Zecure Gaming, meanwhile, have each been ordered to pay SEK3.5m for similar breaches, while Bethard must pay an SEK2.5m penalty and CoolBet operator Polar SEK700,000.The regulator noted that all of the operators named in its ruling have since taken action to ensure they do not offer such betting services in the future. This includes not offering wagering options on under-19 and under-21 matches.The penalty fees are the latest in a growing number to be issued by Spelinspektionen for various violations of Sweden’s new igaming laws, which came into effect on January 1, 2019.Most recently, Betsson’s NGG Nordic subsidiary and PlayOjo operator SkillOnNet were both found to have violated Swedish bonus restrictions, resulting in hefty penalties for each operator. NGG was ordered to pay SEK19m, while SkillOnNet faces a penalty of SEK14m. Swedish gambling regulator Spelinspektionen has handed official warnings and financial penalties to eight licensed operators for allowing wagering on sporting events featuring a majority of participants under the age of 18. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Sports betting Legal & compliance Regions: Europe Nordics Sweden Spelinspektionen penalises licensees for under-18s betting Email Addresslast_img read more

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Month: August 2021 Greentube expands in Colombia with Rush Street Interactive

first_img20th August 2019 | By contenteditor Tech & innovation Greentube expands in Colombia with Rush Street Interactive Regions: LATAM Colombia Tags: Online Gambling Rush Street Interactive (RSI) has struck a deal with Greentube to offer a selection of games from Novomatic’s interactive division in the Colombian market. Rush Street Interactive (RSI) has struck a deal with Greentube to offer a selection of games from Novomatic’s interactive division in the Colombian market.The games include established land-based titles such as Sizzling Hot deluxe and Lucky Lady’s Charm, which have been adapted for online and mobile channels, along with the likes of Royal Crown Blackjack, and Royal Crown Roulette, 1-2-3 Bingo! and Apollo God of the Sun.The games will be available via the RushBet.co website, which launched in May 2018, the first online sportsbook operated by a US company to be available in Colombia.Colombia was the first country in South America to regulate online gambling nationwide back in October 2016, but RSI says that it is continuing to grow its market share in the country “by bringing players new and exciting offerings through partnerships with innovative gaming leaders”.Omar Calvo, general manager of RSI Colombia, said: “Greentube’s large portfolio has proven to be a favourite with diverse audiences and we expect our players at RushBet.co are going to love these new additions of popular land-based casino games.”In April, Greentube marked its entrance into Colombia by teaming up with Wplay, which was the first operator to secure an online gambling licence in the country in June 2017.“RushBet.co is a great name to add to our operator network and we are excited to provide their customers with our most popular titles,” Greentube head of sales Daniel Lechner said. “Our partnership with RushBet.co will enable us to grow further in Colombia.” Topics: Tech & innovation Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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Month: August 2021 Betfair named official partner of LatAm football body

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Marketing & affiliates Subscribe to the iGaming newsletter Betfair has become an official partner of South America’s highest-profile club football competitions through a deal with the South American Football Confederation (CONMEBOL).The Flutter Entertainment-owned betting exchange business joins blue chip brands such as Bridgestone, Mastercard and Qatar Airways as partners of CONMEBOL club competitions including the CONMEBOL Libertadores and CONMEBOL Sudamericana.The deal, which runs until the end of 2022, will raise Betfair’s exposure across South America through stadia branding, broadcast and digital assets.“We are delighted to be the official betting partner of the CONMEBOL Libertadores and CONMEBOL Sudamericana,” said Stephen Mault, Betfair brand director.“These two prestigious tournaments have provided so many memorable moments in world football throughout the ages and we are very proud to be supporting the action for the next three years. We look forward to seeing how the rest of this year’s tournaments unfold.”Flutter Entertainment – formerly Paddy Power Betfair – said in its annual report last year that Betfair has an estimated two-per-cent share of the Brazilian market. It described Brazil as its most significant “grey” market globally.“We are pleased to present Betfair as a partner of the CONMEBOL Libertadores and CONMEBOL Sudamericana. With this important partnership, we add another global brand to the international status of South American football,” said Juan Emilio Roa, commercial director of CONMEBOL.Betfair’s formal link up with South American football’s governing body comes in the same month that the Brazilian government launched a month-long public consultation on sports betting regulation as it works to develop a legal framework for the vertical.The consultation, which runs to 31 August, seeks input from the public and industry stakeholders on the most appropriate model for sports betting in Brazil. It is being conducted by the Secretariat of Evaluation, Planning, Energy and Lottery (SECAP), a division within the Ministry’s Special Secretariat of Finance.It is designed to complement work already underway to develop sports betting regulations, after outgoing President Michel Temer signed into law Provisional Measure 846/18, a bill that gave lawmakers until 2020 to come up with regulations. There is the option to extend the deadline by a further two years if progress is not made by then.Image: Jimmy Baikovicius Betfair named official partner of LatAm football body Betfair has become an official partner of South America’s highest-profile club football competitions through a deal with the South American Football Confederation (CONMEBOL).center_img Marketing & affiliates 23rd August 2019 | By contenteditor Regions: LATAM Email Addresslast_img read more

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Month: August 2021 Caishen’s Arrival by Betsoft

first_img Topics: Casino & games Slots Caishen’s Arrival by Betsoft Discover boundless wealth in the newest slots game by Betsoft Gaming — CAISHEN’S ARRIVAL! With the amazing blessings of Caishen, prepare to delve into a world of riches! CAISHEN’s ARRIVAL features fast-paced slots gameplay with amazing possibility. Featuring a multiplier of over 35000x, the wins can reach the skies.Look out for the CAISHEN symbol which serves as a wild for huge wins! Stack 3 portraits of Caishen on a reel to trigger a FULL REEL WILD and receive a FREE RE-SPIN! Earn additional riches by seeking out the COIN PURSE SCATTER, with 3 or more symbols anywhere on the reel triggering a reward.You can play a demo of the slot here! You can download all the information to write a review of this slot from First Look Games here! Discover boundless wealth in the newest slots game by Betsoft Gaming — CAISHEN’S ARRIVAL! With the amazing blessings of Caishen, prepare to delve into a world of riches! 15th October 2019 | By Aaron Noy AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Casino & games Email Addresslast_img read more

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Month: August 2021 RITA tackles concerns about racetrack closures

first_img New Zealand’s Racing Industry Transitional Authority (RITA) appears to have confirmed that racing venue closures are likely, though stressed that this was to be handled fairly as part of the ongoing industry overhaul. Topics: Legal & compliance Marketing & affiliates Sports betting Horse racing Horse racing Subscribe to the iGaming newsletter 13th January 2020 | By contenteditor New Zealand’s Racing Industry Transitional Authority (RITA) appears to have confirmed that venue closures are likely, though stressed that this was to be handled fairly as part of the ongoing industry overhaul.In its latest update on the process to reform the country’s horse racing sector, RITA said that it and the wider industry acknowledged that the current track footprint was unsustainable.“We have too many venues for the size of our industry, and we haven’t got enough capital to bring all venues up to the right standard of safety and quality for participants and punters,” it said.“As we all know, this isn’t just an issue that’s been identified recently by John Messara,” RITA continued. “It was identified 50 years ago in the McCarthy Royal Commission Report from 1970; and is an issue we know we must address if we are to revitalise our industry.”However, it added, clubs were concerned about the potential changes to communities that would result from any closures. The Messara Report, the blueprint for the overhaul of New Zealand racing, recommended that 28 of the country’s 48 thoroughbred tracks should be shuttered.“With a number of RITA board members and management having been involved in the operation of a number of clubs, we have an acute awareness of the effort and contribution that grassroots volunteers have put into their venues, racing and the wider community over many years,” RITA noted.
It said that the Racing Industry Bill, which was filed in December, would ensure that the process of deciding which venues to be closed would be carried out in a fair and transparent manner.This will take the form of the Future Venue Plan, in which the government, with input from all racing codes, evaluates each of the country’s 48 racetracks. The review will take into consideration the club’s financial performance, as well as its industry return, and the local community’s engagement with its events.It will also consider the governance, its regional contribution as well as future potential for growth, and the alternative uses for the facility. Based on these factors, it will make a decision as to whether it should continue operating, or be considered a surplus venue.There is an appeals mechanism for the club to dispute the review’s finding. This will all be handled by the racing codes, with the government to step in if a compromise cannot be reached. This would see an independent reviewer appointed by the Minister for Racing, to adjudicate on the matter.This will be underpinned by government regulations, meaning the evaluation process will be the same for all locations. The actual criteria are yet to be decided, though they will be drawn up with input from clubs, with RITA appointing independent advisors to help with the process.“RITA believes that, overall, this bill supports the process of change the industry needs, and also ensures that where change is proposed, every club will be treated fairly and respectfully and have its position genuinely heard and considered,” the authority explaiend.“We believe the bill gives the industry the framework to address its venue issues, which have remained unsolvable for decades, in a structured and transparent manner.”The update on the potential venue closures is the latest detailed report by RITA on elements of the Racing Industry Bill to be released in the past week. On 10 January, it attacked suggestions that the bill did not guarantee increases in industry funding, arguing that the racing industry would receive NZ$14m (£7.1m/€8.4m/US$9.3m) in new funding in its 2021 fiscal year.The bill establishes TAB NZ as the successor organisation to RITA, as well as providing the legal framework for an overhaul of disparate elements of the industry. It followed the passage into law of the Racing Reform Act on 1 July 2019.This set out a range of new taxes, including new point of consumption and race field fees, as well as establishing RITA as the replacement for the New Zealand Racing Board. RITA tackles concerns about racetrack closures AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Tags: Race Track and Racino Regions: Oceania New Zealandlast_img read more

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Month: August 2021 Online growth to offset retail decline in GVC 2019 results

first_img Topics: Finance Sports betting GVC Holdings, owner of the Ladbrokes Coral and bwin.party businesses, has said that it expects to post a year-on-year increase in revenue for 2019, primarily due to growth within its online division offsetting a decline in its UK retail business.In a post-close trading update, GVC said that net gaming revenue (NGR) for the 12 months through to 31 December 2019, is likely to rise by 2% year-on-year.Total online NGR for the period is expected to increase by 13%, with NGR from GVC’s online sports operations forecast to rise 16% and online gaming revenue 13%.While UK retail NGR is expected to fall 12% year-on-year, as a result of the reduction in maximum fixed odds betting terminal stakes, GVC said its European retail business is likely to see NGR climb 4% for the period.Based on these forecast results, GVC said it expects earnings before interest, tax, depreciation and amortisation (EBITDA) to be at the upper end of a forecast of between £670m (€787.9m/$877.5m) and £680m.GVC noted that its EBITDA forecast was made before taking into account the impact of the International Financial Reporting Standard (IFRS) 16, which provides additional guidance on accounting for leases.“The group’s operational and financial performance in 2019 has been excellent with the strong momentum reported at Q3 continuing throughout Q4,” GVC chief executive Kenneth Alexander said.“The performance continues to be driven by our industry-leading technology, products, brands, marketing capability, people and local execution, all of which is underpinned by our determination to spearhead the industry’s approach to responsible gaming.“As the group continues to deliver the opportunities provided by both the Ladbrokes Coral integration and our sports betting joint-venture in the US, the board is confident that the group is well placed for a successful 2020.”Meanwhile, GVC also published its expected results for the fourth quarter of 2019, during which NGR is forecast to remain level on a year-on-year basis.Online NGR is set to increase 9% year-on-year in the three months through to 31 December 2019, due to an expected 12% rise in online sports NGR and 8% jump in online gaming NGR.UK retail NGR is likely to fall by 11%, primarily due to the ongoing impact of the cut in B2 machine stakes, though GVC did note over-the-counter wagers are set to be up 17% in the period.However, the expected UK decline would be partially offset by a forecast 5% increase in European retail NGR in Q4, with GVC noting a particularly strong performance by its Eurobet Retail arm, where wagers are likely to climb 7%.Aside from this, GVC said that its Roar Digital US joint venture with MGM Resorts made good progress in Q4, citing an exclusive multi-year deal with Yahoo Sports as a significant step for the business.GVC intends to release its preliminary financial results for 2019 on 5 March.Publication of the post-close trading update comes after GVC last week also said that it will consider the potential relocation of its place of management and control – and therefore also its tax residence – from the Isle of Man to the UK.Jay Dossetter, head of media relations at GVC, told iGaming Business that the move will increase the company’s efficiency by allowing key meetings to be based closer to its largest market. Subscribe to the iGaming newsletter 17th January 2020 | By contenteditor Finance Tags: Online Gambling OTB and Betting Shopscenter_img Online growth to offset retail decline in GVC 2019 results AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter GVC Holdings, owner of the Ladbrokes Coral and bwin.party businesses, has said that it expects to post a year-on-year increase in revenue for 2019, primarily due to growth within its online division offsetting a decline in its UK retail business. Email Addresslast_img read more

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Month: August 2021 Lucky Rat by RTG Slots

first_imgCasino & games Topics: Casino & games Slots 28th January 2020 | By Aaron Noy Lucky Rat, a 5-reel, 720-way, LOW-volatility slot game with free games and a highest payout award of 1320 times your bet. Year of the Rat 2020 surely will bring you brand new beginnings, more fun, and magical rewarding! Year of the Rat 2020 surely will bring you brand new beginnings, more fun, and magical rewarding!Get the game started! Win Now!You can play a demo of this slot here! Lucky Rat, a 5-reel, 720-way, LOW-volatility slot game with free games and a highest payout award of 1320 times your bet.5 consecutive Firecrackers here and there during normal games will grant you free games which can be retriggered for up to 240 free games!center_img Subscribe to the iGaming newsletter Lucky Rat by RTG Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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