Per a ruling published in the nation’s Official Gazette and a report from O Globo’s G1 that quoted Minister of Sports André Fufuca, the ruling opens the door to fixed-odds bets on first-person shooter (FPS) titles like Counter-Strike and Valorant.

The only caveat to the ruling is that online betting operators can only offer odds on esports tournaments if they have permission from the game’s developers.

The ruling makes an exception for betting organized by firms that own the intellectual property rights to their games.

Brazil Esports Betting: Government Green-lights FPS Wagers

The move is a significant departure for both betting and gaming in Brazil. Before the ruling, the government only permitted betting on International Olympic Committee (IOC)-approved games.

This meant that almost all games involving shooting were excluded. Games meeting the IOC’s criteria tend to simulate traditional sports or involve physical activity. These include dance-themed titles, as well as tennis, motorsports, and cycling games.

The IOC has also championed esports titles that adhere to “Olympic values.” The committee says it will only include titles meeting these criteria in its upcoming Olympic Esports Games events.

The IOC President, Thomas Bach, has previously said the Committee’s values “do not match with video games, which are about violence, explosions, and killing.” The Committee’s Director of Virtual Sports and Games, Vincent Pereira, has echoed these views. Pereira stated that the IOC “cannot have [violent games] promoting Olympic values.”

PwC has previously noted that Brazil has the largest gaming market in Latin America. The nation is set to generate $2.8 billion in gaming revenue by 2026. It has posted annual growth figures of around 15% every year since 2021.

Exame reported earlier this month that forecasters think Brazil will account for almost half of LATAM’s gaming market revenue by next year.

Similarly, Brazil is known to have some of the most engaged esports fans globally. Last year, Brazilian esports organization FURIA Esports came 3rd-4th at the Intel Extreme Masters Rio, securing $20,000 of the $250,000 prize pool in front of a capacity crowd. 

Betting, Esports Seeing Growth in Brazil

Online betting is also growing in Brazil. At the end of 2023, Brazilian President Lula signed a law bringing the sports betting market under the umbrella of financial regulators.

Since then, over 170 betting operators have received operating permits. These firms have spent some 30 million reais ($5.3 million) on licensing fees.

The law requires all sports betting operators to be headquartered and managed in Brazil. It also requires operators to ensure that people under 18 cannot place bets on their sites.

Earlier this month, the Ministry of Justice and Public Security and the Ministry of Finance announced that all online betting operators in Brazil must join a state-run complaints network.

The post Brazil Rule Change Lets Bettors Place Wagers on More Esports Titles appeared first on CasinoBeats.

Underdog is among the fastest-growing sports gaming companies in the US. It became the Official Partner of the BLAST.tv Austin Major, BLAST Premier Rivals, and BLAST Premier Lisbon Open.

How Underdog Will Integrate into the BLAST Fan Experience

The financial terms of the deal were not disclosed, but BLAST announced that Underdog branding will be visible on the English-speaking broadcast and on physical and digital assets around the arena.

Underdog will also be integrated into the BLAST.tv minigame, created for US and Canadian audiences.

BLAST added in a post on X that Underdog fans can expect in-person activations in Austin from 19 June until 22 June at the Moody Center.

As part of the announcement, BLAST’s Chief Business Officer, Leo Matlock, said: “We’re really excited about this collaboration with Underdog. They are a brand who’ve been a key player in the innovative and growing sports gaming space for some years.” 

He added: “Underdog has chosen a blockbuster time to partner with BLAST ahead of our sold-out BLAST.tv Austin Major in June. Beyond adding to our live broadcasts and events, we are thrilled that our dedicated and committed BLAST.tv fantasy fans will have the opportunity to engage with Underdog over the next few months.”

Zach Powell, Underdog’s Director of Partnerships, said Underdog is excited to participate in the upcoming events and engage with a new audience during the first-ever in-person esports tournament.

Underdog was founded in 2020 as a sports gaming company targeting the US market. Its core business is fantasy sports games and licensed sports betting.

It first appeared at the BLAST Premier Open S1 in Lisbon, Portugal. Next, BLAST is preparing the BLAST Premier Rivals S1, featuring eight of the best Counter-Strike teams battling for a $350,000 prize pool.

Fantasy as a Fan Engagement Tool in Esports

Fantasy teams have been a significant part of gaming and esports for several years. Dota 2’s flagship event, The International, has had non-monetary fantasy contests embedded in-game through the “Compendium” for many years.

In addition, Riot Games, the creator and owner of League of Legends, has also hosted fantasy as part of its fan engagement strategy across its franchise league portfolio. 

Zach Powell highlighted that Underdog is always looking for innovative partnerships in different sectors. The company was one of the first to offer wagering on Disc Golf after the burgeoning sport recently commercialized its data.

The post Underdog Expands into Esports Through BLAST Partnership appeared first on CasinoBeats.

2.07

LCS hit back at a €2.07m fine that was issued within the Netherlands, labelling the financial penalty as “unwarranted” and “unjustified” alongside an intention to appeal.

This followed a long protracted dispute that initially began in March 2022 when it was discovered players could access the group’s Son of Slots site

However, the company has suggested that the action taken by the Dutch gambling authority “demands our attention”, with the Ksa’s reaction described as “undeniably excessively punitive”.

43

Staying in the Netherlands, and Blue High House became the latest group to fall foul of the Dutch gambling authority, with the Kansspelautoriteit issuing an order subject to a penalty for operating in the country without a licence.

The board of directors were subsequently instructed the company to cease and desist from offering games of chance. In the event of non-compliance, a penalty of €43,000 per week, with a maximum of €129,000, will be imposed.

This stemmed from two Ksa supervisors accessing the group BetOnline brand on December 7, 9 and 10, 2021, as well as January 11, 2022. This indicated that it was possible to create a player account, make a deposit and participate in games of chance from the Netherlands. 

888

BOS, the Swedish trade association for online gambling, welcomed Ministry of Justice proposals to strengthen consumer protection and heighten safety protocols regarding risky lending and over-indebtedness.

The planned changes include tightening rules around consumers being offered and given credit that they do not have the financial means to repay, in addition to establishing a debt register and potentially implementing a credit card ban.

The group noted positivity regarding all proposals in the investigation that would have a bearing on the gambling market, including rejecting a credit card ban due to “insufficient reasons” for such an introduction.

BOS represents around twenty gambling companies that are active in the Swedish gambling market, including the likes of 888, Kindred, Betsson, bet365 and LeoVegas.

25

Italy became the latest nation of focus for the European Gaming and Betting Association, with black market concerns highlighted as an example that the country’s ban on gambling advertising “is clearly favouring the black market and should be revised”.

Citing a La Gazzetta dello Sport report, it was said that Italian players wager approximately €25bn on the black market, with 75 per cent (€18.5m) done so via unlicensed entities.

As a result, the EGBA estimated that €1bn in gross gaming revenue is being lost per year, which is reported as “the combined regulated online gambling revenue of eight other EU countries”.

These are named as Croatia (€170m), Cyprus (€100m), Estonia (€150m), Latvia (€180m), Lithuania (€140m), Luxembourg (€30m), Malta (€70m) and Slovenia (€60m).

100

Betting and Gaming Council Chair Brigid Simmonds stated that third-sector gambling harm support services must be protected in reaction to the UK DCMS’ consultation for the upcoming statutory levy for research, education and treatment of gambling addiction.

Earlier this week, the UK government opened an eight-week consultation period to collect gambling stakeholders’ opinions on how the levy should be conducted, including views from the industry, clinicians, practitioners, academics, those who have experienced gambling harm and the general public.

As part of the gambling review white paper, the new RET levy proposes a one per cent fee on gross gambling yield for online operators, while traditional betting shops and casinos will pay a proposed fee of around 0.4 per cent.

It is estimated that the new levy will raise £100m for gambling research, prevention and treatment across England, Scotland and Wales, developing “a truly national approach to prevention and fund independent, high-quality research to inform policy and practice”.

31

Mansion Group informed its affiliates and media partners of the closure of all B2C operations, including its Casino.com and MansionCasino.com brands.

Mansion noted that all B2C casino brands will be permanently unavailable to all players, and affiliates were informed to proceed with closing their accounts by 31 October, in which the group will process earnings of a $10 minimum.

The operator further explained that all access to its affiliate programme will no longer be possible by the end of November.

2.8

Continued recovery across Macau, hailed as “the most important land-based market in the world”, and Singapore was a key touch point for Las Vegas Sands in its latest quarterly review, with optimism for New York success also elaborated on.

Reflecting on the operator’s performance through July 1-September 30, Robert Goldstein, Chair and CEO, stressed delight at a maintained uptick in travel and tourism spending across each region.

“We remain deeply enthusiastic about our opportunities for growth in both markets in the years ahead,” he said.

Net revenue through the quarter soared to $2.8bn (2022: $1.01bn), with significant increases felt across Macau operations, to $1.78bn (2022: $258m), and the Singapore-based Marina Bay Sands, which closed at $1bn (2022: $756m).

23

Esports Entertainment Group voiced confidence in putting recent turbulent times behind the group, as an uplift in performance, driven by a range of strategic initiatives, is sought through the remainder of the year and beyond. 

Following a slew of recent troubles, the company’s latest financial update has revealed tumbling revenue, however, a significant reduction in expenses has also been reported.

Total revenue through the fiscal year ending June 30, 2023, plummeted 60.61 per cent to $23m (2022: $58.4m), however, the group’s cost of revenue also fell to $8.8m, down 64 per cent year-on-year from $24.2m.

405

New 888 CEO Per Widerström stressed an immediate focus of unlocking the company’s full potential, with “several areas” of its operations said to be showing clear signs of needing necessary improvement.

These comments came amid a third quarter trading update that confirmed recent comments emanating from the operator that the three month period had fallen below expectations.

Revenue through July to September fell ten percentage points to £405m (2022: £449.4m), which is aligned to “significant and ongoing improvements being made to the sustainability” and the quality of the mix of the business impacting performance.

18

Sky Bet became the latest operator to fall foul of ongoing Advertising Standard Authority monitoring of ads that it deems likely to have a strong appeal to under-18s.

These were identified for investigation following intelligence gathered by its Active Ad Monitoring system, which uses AI to proactively search for online ads that might break the rules.

In this latest instance, following previous action against the likes of Ladbrokes, bet365 and WIlliam Hill, the advertising watchdog raised another challenge regarding a promoted Tweet.

This contained an embedded video clip from The Overlap football podcast, which showed Gary Neville discussing which team might win the Premier League.

100

The New South Wales government outlined the initial stages of a $100m gambling harm minimisation investment, which stemmed from a fine imposed on Star Entertainment Group over one year ago.

In a move that aligned with GambleAware Week, which came to an end on Sunday 22 October, this funding is said to represent the “next important step” in an ongoing “long-term commitment”.

It is hoped that this outlay will help to further tackle money laundering, implement gaming reform and reduce the harmful impacts of gambling across communities.

The post Netherlands, Sweden, Italy, Macau, New York & the UK: the week in numbers appeared first on CasinoBeats.

Following a slew of recent troubles, the company’s latest financial update has revealed tumbling revenue, however, a significant reduction in expenses has also been reported.

Financial struggles

Total revenue through the fiscal year ending June 30, 2023, plummeted 60.61 per cent to $23m (2022: $58.4m), however, the group’s cost of revenue also fell to $8.8m, down 64 per cent year-on-year from $24.2m.

Sales and marketing expenses witnessed the largest fall, with that figure standing at 77 per cent to close the year at $5.9m (2022: 25.7m). General and administrative expenses declined 44 per cent to $28.9m (2022: $51.3m).

In addition, net loss closed the 12 months at $32.3m, a significant downfall from the $102.2m reported one year earlier.

Alex Igelman, CEO of EEG, also anticipates a further $4m drop in annual operating expenses, with liabilities having been reduced by an estimated $51.8m since January of this year.

“Over recent months, the company has undertaken a comprehensive examination of our organisation, focusing on the anticipated trajectory of the esports and igaming sectors,” he commented. 

“Through this process, we conducted a deep dive into our business from top to bottom and pinpointed operations and contracts that weren’t profitable, leading to decisive actions that have set us up for a promising future. 

“Although the restructuring came with one-time expenses, we are confident that the long-term advantages will significantly outweigh these costs.”

New beginnings

Igelman, who was named as CEO in December following the departure of Grant Johnson, stressed belief that this period marks an “evolution” as well as “a pivotal shift and new beginning” for the group.

This, he noted, follows a recent focus of turning towards developing initiatives to further broaden the company’s esports and online gaming offerings in order to create a comprehensive offering of online options for customers.

“Overall, we believe the company-wide initiatives we have undertaken this year will place us in a stronger financial position, and at the forefront of the rapidly growing esports wagering market which is poised to grow significantly by 2025,” he noted.

“Moreover, the addition of Oddin.gg’s iFrame supports the company’s global expansion strategies, given Oddin’s established international presence. As a result, I could not be more excited by the outlook for our business.”

Recent EEG challenges

Despite boasting much optimism through 2021, EEG has encountered a number of difficulties during recent times. 

A slew of exits towards the end of 2022, including the aforementioned Grant, came alongside an exploration of strategic options, which could have seen all igaming assets offloaded due to increasing regulatory burdens and competition. 

This period also saw EEG elaborate on “significant progress” in reducing costs and considering strategic options regarding igaming assets that were said to “not contribute to profits and cash flow”.

The include a sale of the company’s online casino business in Spain, closure of Argyll Entertainment’s igaming operations in the UK and Ireland and process to evaluate wider strategic options.

The turn of the year saw Johnson seeking over $1m in compensation and 200,000 shares in company stock after a lawsuit was filed that alleged a breach of employment.

After being ousted in early December, he claimed that the group terminated his employment “for contrived reasons despite a narrowly defined ‘for cause’ requirement” as well as failing to pay contractually-agreed wages, bonuses and severance.

February 2023 saw the company sell its Bethard brand in a €9.5m transaction that came less than two years after praising “another great addition” alongside an agreement to purchase the business.

The post EEG seeking ‘a pivotal shift and new beginning’ following FY challenges appeared first on CasinoBeats.

Running throughout the core day of the event, the dedicated track will maintain a stringent focus on industry innovation and serve as the ideal platform for attendees eager to explore innovative technologies and strategies to bolster their regional operations. 

Rasmus Sojmark, CEO and Founder of SBC said: “Our objective for the innovation stage extends beyond the common misconception that innovation is solely focused on technology and services.

“Within the conference track, attendees will be introduced to fresh approaches, groundbreaking ideas, experimental endeavours and experiences, all designed to elevate the industry’s operations, profitability, and customer protection.”

The ‘Untapped Potential in Street Sports” fireside chat will feature Raimonds Elbakjans (Founder, Ghetto Games), who will share his thoughts on street sports and the development of street sport tournaments, whilst also shedding light on the opportunities that this underutilised field can offer to industry operators. 

A tech-orientated ‘AI Superpowers: Revolutionising iGaming Operations’  panel will examine artificial intelligence’s revolutionary impact on the industry in recent years whilst looking ahead to the untold opportunities it can unlock for the industry. 

Additionally, delegates can anticipate discussions on a wide range of topics including effective strategies for optimising user conversion and long-term retention rates and revolutionary payment solutions within the industry, among other subjects.

‘Player Centricity: Crafting Exception iGaming Experiences for Customer Loyalty’ will examine the importance of user retention in gaining a foothold in the market.

David Gujabidze (Former Deputy CEO, TotoGaming), Tamar Kodalashvili (Head of Digital Marketing, Leaderbet), Revaz Chikvaidze (Former Head of Crypto, VBet) alongside panel moderator Kasparis Momdjian (Senior Project Manager, Hybrid Interaction) will look at how customer-centricity and personalisation can help establish user loyalty and discuss the formula for balancing regional advertising with brand identity. 

Elsewhere, ‘Performance Marketing and Affiliation Unlocked’ will delve into the latest trends and effective strategies for driving and converting traffic. Experts 

Garabet Nokhoudian (Chief Strategic Marketing Officer, Vbet),  Zurab Magalashvili (Marketing Director, Adjarabet), Giorgi Nadaraia (CMO, Betlive) and panel moderator Vakho Mdivani (Co-Founder & CPO, Promofy) will delve into the transformative technologies driving market expansion, explore the pivotal role of regulations in shaping brand development and the partnership affiliates and operators can forge to facilitate mutual success. 

Tereza Tokmajyan (CMO, TotoGaming), Dan Alexandru Ghita (Chairman, Rombet) and panel moderator Ivan Kurochkin (Partner, 4H) will explore the topic of ‘Balancing Player Protection and Growth’.

During the discussion, they will share their unique perspectives and experiences navigating complex regulations, explore the future of player protection and share insights into how global inflation is influencing the industry.

A ‘Esports Betting: A Game-Changer for the Region’ discussion will delve into the urge of esports betting in recent years. Industry expert Max Sevostianov (COO, Betbazar) and panel moderator Sam Cooke (MD & Co-Founder, Esports Insider) will discuss whether esports betting can maintain its relevance and the optimal ways in which esports betting can cater to the preferences of the upcoming generation of bettors.

Additional experts providing unique and invaluable insights across the conference track include Lasha Gogiberidze (Partner CEO, Brave Rave), Gega Topuridze (CBDO, Betlive), Nika Gigashvili (Managing Director / Partner, SMH), with more still to be announced. 

Alongside the conference agenda, delegates will have the opportunity to capitalise on a plethora of networking opportunities and witness the latest industry offerings on the exhibition floor with over 20 local and global brands exhibiting across the summit. 

You can purchase your full event pass here, gaining access to the conference, exhibition floor and networking facilities for the discounted early bird price of US$150. 

For exhibition and sponsorship opportunities please contact sales@sbcgaming.com or Baki Lortkipanidze at baki@smh.global.

The post Unlocking the future: embracing innovation at SBC Summit Tbilisi appeared first on CasinoBeats.

Marrying esports and igaming is a challenge that, if tackled, could revolutionise the gambling industry and carry it into the modern age of entertainment. 

This was the sentiment echoed by Anthony Gaud, CEO of GaudHammer Gaming Group (G3), who outlined the company’s passion for integrating esports, and other engaging features derived from video games, into the gambling world.

After it was announced that Gaud is set to speak on the ‘multiplayer slots – taking influence from esports’ panel at SBC Summit Barcelona, the Emmy-winning CEO, and also Chair of the Regulated Esports and Videogames Committee, stressed the importance of recognising esports at igaming events, while explaining that multiplayer slots are “far from reaching their potential”. 

CasinoBeats: Now that summer is underway, the SBC Summit Barcelona is slowly approaching. Can you explain the importance of esports’ representation at igaming events such as this one?

Anthony Gaud: Due to esports’ rapid growth, SBC Summit Barcelona presents a great opportunity to showcase its potential. Without a doubt, competitive video games are poised to become the next major phenomenon in the world of wagering. We’re on the brink of a new industry, the merger of gambling with video games, the world’s biggest entertainment industry. The convergence promises to bring igaming unprecedented engagement, dynamism, and innovation.

The GaudHammer Gaming Group (G3) is honoured to play a key role in launching this exciting new industry. This remarkable shift in video gaming and wagering is something we’re both witnessing and contributing to. 

The inclusion and recognition of esports in prestigious events like SBC Summit Barcelona holds immense importance. This summit will pave the way for the future of esports in gambling, and I’m excited for the discussions and advancements that will result.

CB: With an extensive background including roles in media development, gaming and television, in what ways has your experience in these sectors carried over to the igaming industry?

AG: Hopefully my experience in intellectual property, video games, and television will help videogames transition into igaming.

As with traditional entertainment media formats, wagering has inherent entertainment value, and it’s fortunate that’s what my media experience brings to the table. In the past, gambling was mostly limited to classic games like poker, blackjack, and roulette. They’re timeless games, but they’re just a fraction of what’s possible.

Sports betting has significantly increased excitement and the entertainment factor for bettors since they can follow and interact with live sporting events. This shows the potential for diversifying wagering experiences.

I think this is where esports fits into the betting world so well because it isn’t just about watching other people play video games; it’s about actively participating in a global community of gamers. From puzzles and fantasy to action and sports, each video game offers unique storylines, themes, and gameplay. Video games bring a whole new level of engagement and excitement to the gambling industry. 

Based on my engagement with several concepts and prototypes in development, I believe we’re on the verge of a major change in gambling. We’ve only just begun to imagine how entertainment and wagering will converge in the future. It’s an exciting time for the igaming industry, and I’m lucky to be a part of it.

CB: At the Summit, you will be appearing on a slots and esports-themed panel. How would you explain the current relationship between these two sectors? Do you think there’s room for more collaboration?

AG: Esports-enhanced slots are currently in the initial phase of evolution and experimentation. The two mediums will integrate in exciting ways with innovative ideas that will bring new life to casino gaming.

For several years now, GaudHammer has been working on prototypes that combine traditional slot machines with interactive, immersive video game elements. User tests show that these innovations are particularly effective at attracting and retaining younger demographics, lowering churn rates. 

With the newly introduced ‘Slot Plus’ category, our company is looking forward to reimagining what slot machines can be. They’re not just standalone games anymore, they’re multiplayer video game experiences that combine elements of slot machines and wildly popular video games like Candy Crush, Tetris, and Clash of Clans. Slots, esports, and video games will all benefit from deep integration. 

Bringing these worlds together improves the igaming experience and opens up new avenues for growth and innovation in video games as well.

CB: While multiplayer slots are beginning to branch into online casino lobbies, there is still a lack of suppliers with a multiplayer focus. Do you think multiplayer slots are being utilised enough in the igaming space?

AG: The utilisation of multiplayer slots in the igaming space is currently far from reaching its potential. The development of these innovative products necessitates a fresh perspective on gameplay, something that most traditional slot developers are yet to gain. 

Simultaneously, game developers with experience in multiplayer dynamics lack a deep understanding of the intricacies of slot machines. When we initially ventured into this realm, we held the misconception that slot products were relatively simple games to develop. However, the reality proved to be quite the opposite. Slot machines are complex systems with their own set of challenges. Their bonusing and reward systems are practically sciences in their own right, requiring a nuanced understanding of player psychology.

In parallel, understanding player interactions in a multiplayer environment is a complex task, as well. Factors such as player motivations, engagement methodology, and the dynamics of group play all need to be considered and optimised for a compelling multiplayer slot experience. As of now, very few companies, if any, have successfully married these two aspects in a publicly released game. 

Despite these challenges, I firmly believe that multiplayer slots will emerge as a significant category in the igaming space. People inherently enjoy having fun and interacting with others, and this is particularly true for the younger demographics we aim to engage with. As such, the development and refinement of multiplayer slots present a significant opportunity for growth and innovation in the industry.

This month, the CasinoBeats 100 Club will be exploring the world of multiplayer slot titles and has tasked the industry with the following question: Why haven’t multiplayer slots made larger inroads into the online casino space? What challenges do they face and what growth opportunities do they create?

To join the 100 Club and offer your insights into this topic, sign-up here.

The post Anthony Gaud: SBC Summit Barcelona’s esports recognition ‘holds immense importance’ appeared first on CasinoBeats.

Esports Entertainment Group

Damian Mathews has been appointed as Chief Operating Officer of Esports Entertainment Group, retaking a role that was departed in December 2022.

As well as currently serving as a member of the Company’s board of directors, a position he has held since June 2020, Matthews previously held Chief Financial Officer duties from April 2022, before adding COO just two months later. Both were vacated in December.

He brings over 25 years of experience in senior finance positions within investment management, banking and accounting to the position.

“I am delighted to announce that Damian Mathews has agreed to rejoin the senior management team as Chief Operating Officer of Esports Entertainment Group,” said Alex Igelman, Chief Executive Officer of Esports Entertainment Group. 

Adding: “In his prior, albeit short tenure as COO/CFO, he played an integral role in streamlining the company’s operations and advocating for critical changes within the organisation. Importantly, his decision to rejoin the team reflects his complete alignment with the new direction of the company and the promising future of the esports industry. 

“Moreover, he has the full support of the board, which believes his experience in global business operations and the gaming industry makes him ideally qualified to help lead the company in our next phase of growth, with a laser focus on profitability and driving shareholder value.”

Table Trac

Table Trac is aiming to forge ahead with an “aggressive expansion plan” after confirming the latest addition to a team that boasted record breaking revenue through 2022.

This has seen the developer and provider of casino information and management systems confirm that Jeff Baldi has joined the company as Senior Vice President of Commercial Strategy.

Building on more than 27 years of casino operations and manufacturing experience, in the role Baldi will gain responsibility for Table Trac’s Sales & Marketing strategies.

“Bringing Jeff Baldi into CasinoTrac to lead the company’s expansion plans demonstrates our commitment to increase brand awareness and bring our value, quality and service to the larger casino industry”, said Chad Hoehne, President of Table Trac Inc.

Rightlander

Sarafina Wolde Gabriel has become Chief Strategy Officer at Rightlander, where she will work alongside Founder Ian Sims and the wider management team to accelerate the company’s growth on a global scale.

In the position, she will be charged with expanding the advertising and affiliate compliance monitoring specialist’s reach into new markets and verticals.

In addition, Gabriel will also be responsible for evaluating potential new product opportunities, and building strategic partnerships to boost business growth

“Sarafina brings a wealth of experience and a proven track record of success in strategic planning and business development,” noted Sims. “We are confident that her innovative thinking and strategic approach will be instrumental as we continue to grow our business and enter new markets.”

Scientific Games

Christine Wechsler has joined Scientific Games as Senior Vice President of Public Policy and Government Affairs, where she will support the businesses global growth efforts.

Furthermore, the role will also see Wechsler charged with establishing the company as “the partner of choice for government-regulated lotteries” to help drive maximum proceeds for beneficiary funding.

She boasts in excess of 20 years experience in navigating complex legal issues for government clients and businesses

Jim Schultz, Executive Vice President, Global Public Policy and Government Affairs, commented: “Scientific Games is dedicated to building and maintaining positive relationships with every governing body we serve. Christine’s understanding of public policy from both the government and business perspectives will help maintain our industry-leading reputation. 

“She brings legislative and advocacy expertise to the team that will help foster further growth in the iLottery space across the country.”

BETBY

Sportsbook supplier BETBY has strengthened its senior sales team via the addition of Stefanos Karakidis as Senior Business Development Manager.

In the position, the group noted that Karakidis will “have a big focus on researching new markets” as well as gaining lasting relationships with brands that operate in these jurisdictions. In addition, making sales projections and forecasting revenues will also be key responsibilities.

Karakidis  added: “I am delighted to be given the opportunity to join BETBY’s family and I am looking forward to the exciting journey ahead.

“The company is continuing to grow at a strong pace, and as we expand our footprint around the world, I can’t wait to contribute to BETBY’s ongoing success.”

The post Esports Entertainment, Rightlander & Scientific Games: on the move appeared first on CasinoBeats.

These comments came as CasinoBeats sat down with Lyle Wraxall, Chief Executive of Digital Isle of Man, at the recent ICE London, which followed a landmark highest ever number of licensees being reached during the last 12 months.

The executive agency within Isle of Man government’s Department for Enterprise aligns this momentum to a professionalised ecosystem that has fostered open communication with businesses to drive developments. 

“That’s really created some great opportunities for us, and we’ve seen those results,” Wraxall began. “If we look back over the last four years, we have seen a steady increase through the number of businesses coming to the island, and that means licences, that means jobs and growth. 

“It’s great to see, and we don’t see any sign of that slowing down. We got through the pandemic blip, and that did obviously plateau numbers a bit. But after things have opened up, it’s been going strong, and we didn’t really lose anything. We just lost a bit of momentum during that pandemic time. 

“As we look forward to next year, we’re still seeing a large increase in opportunities and potential businesses coming to the island, so it’s fantastic to see.”

“I think digital is certainly a growth sector, not just on the Isle of Man but everywhere”

Regarding the appeal and perceived attractive proposition posed in reaching this milestone, Wraxall cited the need to be open and accessible, as well as not being afraid to expand into further sectors, such as esports, crypto and fintech.

“What we’re seeing is that they are all coming together and working together. It’s creating a really interesting ecosystem and tech culture on the island,” he continued. 

“People are moving between businesses within the different digital sectors, and are able to create more interesting career paths. And I think all of that is really making a far more attractive proposition, and creating more growth.”

During November’s aforementioned assembly, Lawrie Hooper, the then-Minister for Enterprise, opened the conference by proclaiming that the digital industry “sits at the heart of our future economic success.”

Wraxall elaborated on this by touching upon a “a really strong history in financial services” on the island, which, it is noted, “is still a huge part of our economy”.

In addition to touching upon the “key” role of tech in driving future growth, the Digital Isle of Man lead also delved into a range of initiatives that are designed to bring new ideas and innovation.

One such example, a fintech innovation challenge, was designed to give the island’s businesses the ability to grow more, become more lean, innovate and outstrip the competition.

“I think digital is certainly a growth sector, not just on the Isle of Man but everywhere,” Wraxall continued.

“…we have to be really agile and keep forward looking”

Adding: “We’ve had a 10 year economic strategy that we’ve been working on for some time, and at the heart of that, the digital sector is recognised as the area where a lot of growth needs to come from. 

“I keep saying the digital sector, but let’s be really honest about this, digital is not a sector, it’s a horizontal and it feeds everything. 

“When we’re looking at digital technology, that’s the way we’re looking at it.

“What we do is build everything up, all of the businesses on the island. And that’s why it’s so important to our growth.”

When it comes to the specifics of not just supporting business growth but ensuring that these thrive and beat off competition, the importance of adopting an understanding role as a government and creating “the right environment” for such sectors to blossom is a point that is hammered home.

“That means, especially in the tech sector, that we have to be really agile and keep looking forward,” he explained.

“Understand what’s coming down the path and make sure that environment is right. So we’re looking at things like our financial regulatory system, what’s that going to look like in the next five years, we need to have that vision, we need to start moving on that now. 

“We need to understand our position, which we did a few years ago, around blockchain technologies and crypto assets, and make sure that we are offering something, but at the same time to the high standards as we expect, and we have to have it on the Isle of Man.

“But it’s also about enabling businesses to have certainty in their business surviving and being able to grow on the Isle of Man.”

“We’re here to make sure, where possible, that we are doing the utmost to listen to our business’ needs”

Slightly changing tack to look at things from a people perspective, Wraxall pointed to close industry relationships in ensuring that momentum, which has seen gaming and fintech occupy 30 per cent of the total economy, continues.

“It’s a very collaborative relationship,” it is noted, one that “means we have really frank conversations”.

He continued: “And that’s what we’re here to do. We’re here to make sure, where possible, that we are doing the utmost to listen to our business’ needs, and we’re adapting. 

“Again, people really enjoy and like working in that environment where they feel that they’ve been listened to, and they’ve got a voice.”

In a bid to support skills growth, the island’s journey is to also deliver the opening of a Digital Academy, a concept that was born out of conversations with overseas colleagues.

Noting the importance of collaborating rather than competing to swell the industry opportunities available, such a move, said Wraxall, comes against the backdrop of a global shortage of tech skills.

However, with the Academy on a programme of work across the remainder of the year, the need to be “clear about what outcomes we want to get from that” is reiterated.

“Ultimately, it’s going to have to form part of a larger workforce skills strategy on the Isle of Man to make sure that we bring the right skills and the right workforce, to help our economy grow and hit our targets and our economic plan,” it was said.

With the conversation drawing to a close, all roads inevitably led back to Digital Isle and the question of: How do you develop the Isle of Man as a digital destination of choice?

“Let’s make sure we don’t break anything we’ve got, we’ve got a fantastic environment”

“I think it’s diversity options,” Wraxall explained. “I’ve talked about the diversity of career paths, you need to have a workforce that has different sectors to work in. 

“It’s about creating an ecosystem that works in harmony with each other and can leverage each other. So you can’t just throw paint at the wall and expect everything to work. 

“You do need to lay out your plans and understand what is going to drive businesses to each other. When we look at developing a new sector or a new idea or new initiative, we very much first and foremost look at how that is going to benefit the existing businesses we have on the island. 

“How’s it going to help them grow? How are they going to be able to deliver more services here? How do we help them do that? And then we look at how we bring in new businesses into that sort of mix to help that growth. 

“And that’s incredibly important to us. Let’s make sure we don’t break anything we’ve got. We’ve got a fantastic environment, and how do we just keep on building and building in a way that’s positive to everybody?”

The post Lyle Wraxall, Digital Isle of Man: building in a way that’s positive to everybody appeared first on CasinoBeats.

9.5

Esports Entertainment Group is to sell its Bethard brand in a €9.5m transaction that comes less than two years after praising “another great addition” alongside an agreement to purchase the business.

Although EEG did not disclose the purchasing party, it was noted that the aforementioned price comprises €1.65m of cash proceeds payable at closing, as well as an additional €6.5m attributed to its release from payment of its contingent consideration liability from the Bethard acquisition.

The purchaser of the online casino and sports betting business will also assume liabilities of approximately €1.2m, with the terms also permitting a cash holdback of €150,000, which may be retained by the purchaser should liabilities exceed agreed upon amounts.

Closing of the divestment is anticipated to occur during the two-week period following the signing of the purchase agreement, subject to customary closing conditions, which was dated February 14, 2023.

1.26

Star Entertainment witnessed plummeting finances during the six months ending December 31, 2022, as the cost of a series of regulatory reviews weighed heavily on the company.

After being found unsuitable to hold a casino licence in New South Wales and Queensland, Star was subsequently hit with a pair of A$100m penalty packages as well as further remediation orders. 

Furthermore, the operator is also the subject of enforcement action from Australia’s financial watchdog AUSTRAC, and currently counts four class action lawsuits being levelled against the group.

Citing these array of penalties, costs associated with the regulatory reviews and contribution towards the Bell review in NSW, in addition to the impairment of Sydney property assets, the firm has seen net loss through the aforementioned six month period plunge to A$1.26bn.

2023

Caesars Entertainment CEO Tom Reeg has stated that he fully expects the upcoming Formula One Las Vegas Grand Prix in November to drive ‘Super Bowl-level activity’ for the operator in the city.

Speaking on an earnings call for its fourth quarter results, Reeg also noted that he expects digital operations to positively contribute to adjusted EBITDA in 2023, and he gave an update on the operator’s New York casino project.

“We continue to believe we’ve got the project that will open the quickest. We’ll start paying New York, the tax is the quickest. It’s in an area that doesn’t need zoning approval,” he said.

“Obviously, it is already tourist-focused but I can assure you, we are not going to be the one that wins because we built the biggest housing development outside of our casino.

“We’re going to win this on the merits of the property and how quickly we can get open and how well it fits into the local environment. If it becomes an arm’s race of who is going to spend the most money, we won’t win.”

21

A bill that could have legalised online casino operations in the US state of Indiana failed to receive a vote in the committee phase.

Last month, Representative Ethan Manning filed legislation – HB 1536 – in the Indiana House of Representatives which would have allowed for both online casinos and poker sites and regulated online lottery under the Hoosier Lottery in the state.

The bill was waiting for a hearing in the Public Policy Committee. However, the legislation failed to receive a vote before the state’s House committee report deadline of 21 February.

25.1

Tabcorp is looking to increase its online market share to 30 per cent within two years after the group posted better than anticipated numbers during the six months ending December 31, 2023.

As local media reported shots being fired at the long-term prospects of rivals such as Betr, Adam Rytenskild, MD and CEO, is looking to take a larger digital slice than the 25.1 per cent reported through H1 2022.

This figure, it was noted, represents the first time since 2019 that Tabcorp has held its digital revenue market share.

45

Catena Media once again basked in the delight of a strong North American performance, as a heightened sports showing, driven by the men’s football World Cup, offset a drop-off in the group’s casino segment.

As a strategic review concluded with a €45m sale of AskGamblers and associated brands to Gaming Innovation Group, revenue through the year’s final quarter dropped one percentage point to €31.53m (2021: €31.92m). For the full-year a slight uplift to €137.92m (2021: €136.11m) was felt.

These figures were significantly swelled by a strong showing across North America, where revenue rose 31 per cent and 24 per cent during the final quarter of 2022 and full-year to close at €21.46m (2021: €16.41m) and €84.4m (2021: €67.85m).

This was aligned to a robust performance in Maryland, which legalised licensed online sports betting in November, a strong World Cup, contributions from recently opened markets in New York, Louisiana, Ontario and Kansas, and a favourable run-up period prior to the launch of legal sports betting in Ohio on 1 January 2023.

188.32

The momentum enjoyed by the Pennsylvania gambling ecosystem through the past year continued into 2023, with January posting a further state-wide increase.

After toasting the success of another record year during the past month, the region’s Gaming Control Board disclosed that revenue from slot machines, table games, sports wagering, igaming, video gaming terminals and fantasy contests closed the first month of the year at $464.48m. This represents an 18.15 per cent uptick year-on-year from $393.14m.

Total tax revenue generated collectively through all forms of gaming and fantasy contests was $188.32m during January.

300,000

Agents from the Washington State Gambling Commission arrested an individual after a total of $300,000 was found to be missing following a routine inspection.

This saw those acting on behalf of the state regulator arrest Sara Lee Moon at the Veterans of Foreign Wars Post on theft charges, before she was later booked into county jail on four counts of first degree theft.

One year ago, the agents of the WSGC, which also reiterated a mission to “protect the public by ensuring that gambling is legal and honest,” conducted a routine inspection of gambling records at the VFW post that is located in the Washington state city of Prosser.

As a result, it was discovered that over $300,000 of funds were missing from gambling and bar accounts, which subsequently sparked the WSGC into beginning a criminal investigation into the VFW.

23,000

Investigators in the state of Michigan continued to crackdown on illegal gambling operations after seizing further cash and equipment following a latest raid.

This saw 36 machines, including computers used as slot-style gaming machines, freestanding slot-style gaming machines, table-mounted devices and a coin pusher offering, as well as more than $23,000 in cash confiscated from an alleged illegal operation in Delta Township.

2022

Galaxy Entertainment Group once again reiterated confidence in the future performance of Macau despite encountering a series of struggles through the past year.

Echoing sentiments issued throughout the entirety of the past year, Dr Lui Che Woo, Chair of the operator, made the comments as part of a market overview that accompanied the publication of the group’s latest financial statement.

“Macau, like the rest of the world, continued to experience the impact of COVID-19 throughout 2022, with sporadic outbreaks in mainland China, Macau and Hong Kong and the subsequent travel and quarantine restrictions impacting visitor arrivals,” he explained. 

“I am pleased to report that in early 2023 all the travel restrictions were lifted and Macau is well positioned to welcome mainland and international visitors in 2023.

“We are pleased with the reopening of borders in early 2023. Macau has experienced solid demand and associated revenue and we were particularly encouraged by the performance over the Chinese new year golden week. We are hopeful for a sustainable recovery and remain cautiously optimistic.”

The post New York, EEG sale, Star struggles & Macau confidence: the week in numbers appeared first on CasinoBeats.

The brightest minds in the betting industry will come together at the Meadowlands Exposition Center in New Jersey to explore the latest advancements and innovations in sports betting. Participants will have the opportunity to delve into subjects such as the future of data-driven betting, the surging popularity of esports, and the impact of fantasy sports on revenue generation, among other exciting topics.

One of the highlight panels, “A macro look at micro-betting,” will delve into the challenges faced in live betting and examine the growing demand for immediacy in sports betting. This features Joey Levy (CEO & Co-Founder, Betr), Scott Kaufman-Ross (VP, Head of Fantasy and Gaming, NBA), and Ken Fuchs (Head of Sports, Caesars Entertainment), with Dan Zucker (President, Zucker Media Group) moderating the discussion. 

‘Are suggested bets the future of data-driven sports betting?'”‘ will address the role of customer data in the future of sports betting. Panellists include Shannon Knapp (President, Invicta Fighting Championships), Earl ‘Mitch’ Mitchell (SVP Predictive Analytics, Hard Rock Digital), and Jeff Cadillac (On-Air Talent – NFL Analyst, Bettor Sports Network). The discussion will revolve around the potential utilisation of customer data to offer suggested bets to players and the investment necessary to provide more robust and faster data. 

Elsewhere. ‘Esports – turning pro and here to stay'”‘ will examine the growth of esports and its impact on the betting industry. The panellists include Zach Dixon (Co-Founder, Players Lounge), Justin Dellario (Managing Director, Esports at Entain / CEO, Unikrn), and Amir Mirzaee (COO, Bayes Esports). The discussion, moderated by Anthony Gaud (Chair, Regulated Esports and Video Game Committee, New Jersey), will cover topics such as the differences between esports and sportsbooks, the marketing of betting on esports to the wider public, and the recent surge in investment in the esports betting industry. 

‘The Road to Revenue – does fantasy need to change its image to be a serious money maker?’ will analyse the role of daily fantasy sports in the market. Speakers include Brandon Stakenborg (Founder & CEO, Underdog Fantasy), Tom Kennedy (CEO, Stokastic), and Chase Payne (Co-Founder, Champions Round), with the discussion to focus on the future of DFS and how it must evolve to remain relevant in the market. Wayne Kimmel (Managing Partner, SeventySix Capital) will be on moderating duty.

Alongside this track, attendees of the SBC Summit North America can expect expert-led panels across nine more that are spread across two action-packed days. With five stages running simultaneously each day, attendees will have ample chances to delve into diverse subjects, including Leadership, Converging Worlds, iGaming Americas, Sports, Teams & Media, Marketing and Affiliates, Emerging Tech, iGaming Products, Fintech & Payments, and New Markets. 

Visit the official SBC Summit North America 2023 website for more information on speakers, sponsors, exhibitors, media partners, and attendees. 

You can purchase your 3-day event ticket that includes three conference days at the Early Bird rate of $895, a $100 saving on the standard price of the Full Access Pass.  A limited number of 3-day passes are available.

​​The 2-day pass is available at the Early Bird rate of $695, a $100 saving on the standard two-day pass. The deal ends on February 28.

SBC will offer free Operator and Affiliate passes to members of SBC Leaders and Affiliate Leaders. Fill in the forms (operator form, affiliate form) to get in touch with our Relationships team and find out more. 

Contact sales@sbcgaming.com for details on exhibition and sponsorship opportunities.

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