Private equity firm to purchase 48.7% stake in Gamenet

first_img Private equity firm to purchase 48.7% stake in Gamenet AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 24th October 2019 | By contenteditor New York-based private equity firm Apollo Global Management has agreed to acquire 48.67% of the issued share capital in Gamenet from the two largest shareholders in the Italian gaming operator.Apollo will purchase 8,600,000 shares from TCP Lux Eurinvest, representing a 28.67% stake in Gamenet, as well as 6,000,000 shares from Intralot Italian Investments, accounting for 20.0% of the Gamenet business.The agreements state that Apollo will pay €12.50 for each share, which values the overall purchase price at €182.5m (£157.7m/$203.1m). TCP will receive €107.5m for its shareholding, while Apollo will pay Intralot €75m for its stake.Both deals are subject to anti-trust approval from the European Commission, as well as clearance from Italian gaming regulatory authority, Agenzia delle Dogane e dei Monopoli.Gamenet said it expects to secure full approval before the end of 2019, with both transactions set to be completed in the first quarter of next year.Apollo intends to fund the transaction, including any potential refinancing of the Gamenet’s existing debt, through a combination of its own cash resources, and a fully committed debt financing from international banks. Email Address Finance Tags: Online Gambling Subscribe to the iGaming newsletter Topics: Finance Strategy Regions: Europe Southern Europe Italy New York-based private equity firm Apollo Global Management has agreed to acquire 48.67% of the issued share capital in Gamenet from the two largest shareholders in the Italian gaming operator.last_img read more

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DCMS to scrutinise player habits during Covid-19

first_img DCMS to scrutinise player habits during Covid-19 Email Address The UK government’s Department for Digital, Culture, Media and Sport (DCMS) has written to leading online gambling operators demanding regular updates on players’ behaviour patterns during the novel coronavirus (Covid-19) pandemic. Legal & compliance The UK government’s Department for Digital, Culture, Media and Sport (DCMS) has written to leading online gambling operators demanding regular updates on players’ behaviour patterns during the novel coronavirus (Covid-19) pandemic.Bet365, GVC Holdings, William Hill, Flutter Entertainment and The Stars Group-owned Sky Betting & Gaming, as well as industry trade body the Betting and Gaming Council, have been asked to provide internal data around online gambling habits of players under lockdown.Minister for sport, tourism and heritage Nigel Huddleston’s letter also reminds operators of their responsibilities and encourages the industry to take extra steps to protect players “at a time of heightened risk”.Operators are also advised to make safer gambling messaging more prominent in their advertising across television, radio, online and print media. In particular, Huddleston writes, this messaging should clearly warn of risk and signpost support services such as GambleAware.Huddleston’s letter comes almost a month after the Betting and Gaming Council announced a ten-point plan adopted by members to protect customers during the pandemic, which included measures similar to those recommended by the MP.This saw operators commit to making safer gambling messaging more prominent in advertising, and signposting links to services such as GamCare and its National Gambling Helpline. Operators will also be monitoring customer behaviour in order to react quickly to increases in time and spending.These measures have been criticised by the Gambling Related Harm All Party Parliamentary Group, however, which dismissed them as being insufficient to actually provide a sensible level of player protection, or as rehashing existing commitments.The MP explained that DCMS had taken action after the Advertising Standards Authority reported an increase in gambling-related complaints since the pandemic hit the UK. The ad watchdog has not publicly announced this, but earlier this month said it was scrutinising gambling adverting for any failures to comply with a ban on mentioning Covid-19 or looking to exploit the situation for financial gain.DCMS has requested further details from the ASA on the scale and trends of these complaints.Huddleston said the information provided by the industry and the ASA would allow DCMS and the Gambling Commission to make a full assessment of the impact of the current situation on gambling habits. This would allow them to identify new risks, whether operators were taking action to address these, and whether current regulations and voluntary measures were sufficient to prevent an increase in gambling related harm.“Although there is no firm evidence at this stage, there are concerns that the current social distancing measures could lead to an increase in problem gambling online with people in lockdown and internet usage up,” DCMS explained.It added that the Gambling Commission had received reports of an increase in customer activity around online slots, poker, casino gaming and virtual sports, following the cancellation of live sport and closure of land-based gambling premises.“As we stay at home and spend more time online, it is vital that no stone is left unturned in protecting people from gambling related harm,” Huddleston said.“Whilst overall gambling participation has fallen in recent weeks and the industry has made notable contributions to support the national response, we must take proactive steps now, and keep these measures under review.“I expect patterns of play to be closely monitored so we can move quickly if there is any evidence of problem gambling increasing. I also want more to be done to promote responsible gambling during the pandemic.”Huddleston will also arrange a virtual round table with major problem gambling treatment and support organisations in the coming weeks. This, he said, would provide an opportunity to discuss the impact of the pandemic, to assess trends in service use, how effective remote treatment provision for problem gamblers is proving, and whether current self-exclusion measures are fit for purpose.The Minister’s intervention comes in the wake of integration with the UK-wide self-exclusion system Gamstop becoming mandatory for all operators from 31 March. The Commission has already taken action against operators that failed to integrate by that date.Last week, from 14 April, a ban on the use of credit cards to fund gambling also came into effect.The government is also preparing a review of the 2005 Gambling Act, to ensure it is fit for the digital age, with further details of this process to be announced in due course. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland Topics: Legal & compliance People Tags: Mobile Online Gambling 21st April 2020 | By contenteditorlast_img read more

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Immortal Monkey King by Swintt

first_img Subscribe to the iGaming newsletter 23rd June 2020 | By Aaron Noy Immortal Monkey King is a 3×5 Reel 20 Line Slot Game that features three separate bonus rounds, each of them triggered when players have collected enough symbols to fill the bonus meters. Immortal Monkey King features progressive meter features with persistent data (saves user progress), which collect different symbols to trigger 3 separate bonus rounds: Random Wilds, Stacked Wilds and Sticky Wilds.You can play a demo of this slot here!You can download the affiliate pack from First Look Games here! Immortal Monkey King by Swintt Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Slots Immortal Monkey King is a 3×5 Reel 20 Line Slot Game that features three separate bonus rounds, each of them triggered when players have collected enough symbols to fill the bonus meters. Immortal Monkey King features progressive meter features with persistent data (saves user progress), which collect different symbols to trigger 3 separate bonus rounds: Random Wilds, Stacked Wilds and Sticky Wilds. Email Addresslast_img read more

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CDI reopens Calder Casino in Florida

first_img Churchill Downs Incorporated (CDI) has announced the reopening of its Calder Casino property in Miami, Florida, after more than five months closed due to the novel coronavirus (Covid-19) pandemic.The site resumed operations on August 31, having been closed since mid-March, in line with state-wide measures to slow the spread of Covid-19.Calder Casino will continue to abide by guidelines set out by Miami-Dade County, including running at modified operational hours and operating with restricted service offerings.In addition, the property will implement the ‘CDI 360 Degree Approach to Safety’ that includes initiatives to facilitate social distancing, personal protection and enhanced cleaning.Read the full story on iGB North America. Casino & games 2nd September 2020 | By contenteditor Regions: US Florida Subscribe to the iGaming newsletter CDI reopens Calder Casino in Floridacenter_img Topics: Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Churchill Downs Incorporated (CDI) has announced the reopening of its Calder Casino property in Miami, Florida, after more than five months closed due to the novel coronavirus (Covid-19) pandemic. Email Addresslast_img read more

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Playtech expands Greek presence with Novibet deal

first_imgUnder the arrangement, Novibet will offer casino content through a dedicated tab on its website, while the operator will also run localised and branded versions of Playtech’s live casino offering. Tags: iGaming Playtech Novibet Last week, tribal operator Mohegan Gaming & Entertainment (MGE) was granted permission by the HGC to develop the first integrated resort and casino in Greece. Two types of licences will be available, one for online betting and the other for online games of chance. 19th October 2020 | By Robert Fletcher Topics: Online casino Playtech has enhanced its presence in the Greek market by rolling out its casino and live casino software with online gambling operator Novibet. “We’re delighted to expand our game offering with Playtech to bring its industry leading content to our wide-ranging audiences and we look forward to developing this partnership further as we continue to grow our content offering,” Novibet general manager Nikos Olympitis said. The new launch comes after Greece’s gambling regulator the Hellenic Gaming Commission (HGC) this month opened the application process for its new online gaming licences. “Our scale and distribution is a powerful offering for potential partners, and this is a great example of our commitment to partnering with fast growing companies in fast growing markets.” Playtech expands Greek presence with Novibet deal Playtech commercial director Yori Arami added: “Novibet continues to grow in Greece and across Europe and now its players can enjoy our industry leading casino and live casino content. Regions: Southern Europe Greece The casino operating licence permits MGE to construct a luxury hotel, premier entertainment venues, convention centre, shopping, dining, casino and a mix of premium amenities. The deal will initially cover the Greek market, with plans in place for Novibet to also launch Playtech content in both Great Britain and Italy in the near future. Online casino Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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Serengeti Wilds by Stakelogic partnered by Hurricane Games

first_imgEnhance free spins by completing the progressive animal meters and gain more free spins for each animal meter. Each animal symbol transforms into a wild symbol, thus increasing the chances of winning. Subscribe to the iGaming newsletter During the safari, players that land three scatter symbols trigger the free spin bonus rounds – and it’s here that the hunt starts. The game uses a cascading reel mechanic, whereby the symbols on a winning line are removed, thus giving players the chance to make another win. 27th October 2020 | By Aaron Noy Serengeti Wilds is a 5×4 video slot that will bring you through the natural wonders of Africa Game special features:Free spins, buy bonus feature, gamble featureNumber of paylines:25Number of reels:5 reels, 4 rowsRTP% (recorded/theoretical):95.98%Variance/volatility:5/5Number of symbols to trigger feature/bonus?Trigger standard free spins by landing 3 free spins scatter symbolsCan feature be retriggered?Enhanced free spins are awarded when entering free spins by completing the base game animal progression meters. The associated animal trail in free spins will be completed, and the symbol will be wild.Number of free spins awarded?N/AStacked or expanding wilds in normal play?NoStacked or expanding wilds in feature play?NoNumber of jackpot tiers?N/AAuto-play function?:Yescenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Slots Email Address Slots Serengeti Wilds by Stakelogic partnered by Hurricane Gameslast_img read more

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Tabcorp rejects talk of private equity takeover bid

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The statement led to a drop in Tabcorp’s share price to around the level it was trading before the market opened on Friday last week, and at the time of writing was priced at $3.94 per share. “The outage was unacceptable; Tabcorp remains deeply sorry for this and acknowledges the significant disruption caused to our customers, the racing industry and venue partners,” Tabcorp managing director and chief executive David Attenborough said. “Our teams and technology partners are continuing to deploy all available resources into restoring the full Tabcorp gambling entertainment experience for our customers and partners.” He is a seasoned betting executive, having built up and sold first Sportsbet to what was then Paddy Power in 2009, then CrownBet, which combined with The Stars Group to acquire the William Hill business. Subscribe to the iGaming newsletter Topics: Finance Management The other, unnamed, private equity firm is said to be considering a $3.0bn bid for Tabcorp’s TAB betting division. Based on a preliminary assessment, Tabcorp said a smoke and likely fire incident at a third-party managed data centre in Sydney resulted in extensive damage to Tabcorp’s servers and associated infrastructure. The report saw Tabcorp’s share price rocket by 16.4% from $3.53 at opening on Friday to $4.11 at close. Australian gambling giant Tabcorp has rejected reports that it could be subject to a takeover bid, in a proposal involving private equity firms and fronted by betting pioneer Matthew Tripp. “Tabcorp is not aware of, and has not received, any proposal in respect of the company or its businesses,” Tabcorp said in a statement released today (9 November). Matthew Tripp is reported to have held talks with two private equity firms, one of which is seeking to purchase the entire Tabcorp business for a fee of AU$9.0bn (£4.98bn/US$6.54bn). Last month, Tabcorp reported a 5.7% year-on-year decline in revenue for the first quarter of its financial year, primarily due to disruption caused by the novel coronavirus (Covid-19) pandemic. However, Tabcorp has denied the report, distancing itself from any potential takeover for all or part of its business.center_img Tabcorp rejects talk of private equity takeover bid The enlarged entity, which was renamed BetEasy, was then acquired outright by the PokerStars operator outright late in 2019. This, Tabcorp said, led to technical and systems outages, as well as the closure of TAB retail venues. A report published by newspaper The Australian on Friday said that a number private equity firms had approached Matthew Tripp with the aim of launching a takeover bid. 9th November 2020 | By Robert Fletcher Meanwhile, Tabcorp has announced that it will undertake a “comprehensive and urgent review” after a major outage hit its TAB, keno and gaming services over the weekend. Finance Tabcorp added that there is no evidence of any potential cyber security issues or customer data breaches a this stage, and also said the incident had an estimated impact of under $10m on its earnings before interest, tax, depreciation and amortisation (EBITDA). Tabcorp said the incident took place at around 11:30am AEDT on 7 November, but services have now largely been restored. Tags: Tabcorp Matthew Tripp Revenue from lotteries and keno fell 6.9%, despite strong jackpot sequences in the period. The operator also said jackpot sales were up between 15% and 30% in jackpot game sales, compared to pre-Covid-19 levels. Regions: Australia Email Addresslast_img read more

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Swedish igaming revenue up in Q3 despite deposit cap

first_img Regions: Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Swedish igaming revenue up in Q3 despite deposit cap Online casino and sports betting revenue was up 2.1% quarter-on-quarter and 5.8% year-on-year to SEK3.69bn. Bingo and restaurant casinos both recovered from a weak Q2, as bingo revenue grew 23.7% quarter-on-quarter to SEK47m while restaurant casino revenue was up 32.4% to SEK45m. However, these figures were still the second-lowest since Spelinspektionen recorded the figures at the start of 2019, with bingo down 20.3% year-on-year and restaurant casino revenue down 24.7%. At the end of the quarter, just over 56,000 people had excluded themselves from gambling using self-exclusion tool Spelpaus, up 7% from the end of Q2. Spelinspektionen added that this figure had increased to just under 58,000 people by mid-November. Spelinspektionen’s survey also found that 43% of respondents were not aware of Spelpaus and so the operator announced a new awareness campaign for the tool. Subscribe to the iGaming newsletter Svenska Spel’s state lottery and monopoly and land-based machine gaming monopoly, meanwhile, brought in SEK1.47bn, up 14.0% from last quarter and 7.7% from 2019. According to Svenska Spel’s own Q3 results, it made SEK1.18bn from lotteries and SEK177m from its Vegas line of gaming machines. It earned an additional SEK490 from its Sport and Casino division and SEK72m from other sources. Non-profit lottery revenue dropped 17.5% from its record high of SEK946m in  the second quarter of 2020, but was still up 5.4% year-on-year. The operator took in no revenue from its Casino Cosmopol land-based venues, which were all closed throughout the quarter. As these are the only land-based casinos in Sweden, the country as a whole took in no revenue from the vertical in Q3. Although Spelinspektionen had earlier warned the move could help the black market and was “impossible to enforce” across all operators, it said in its consultation response that an extension would be “reasonable”, given that the circumstances that led to the introduction of the cap were still in place.center_img Q3 results 2020 23rd November 2020 | By Daniel O’Boyle The regulator added that while it could not accurately measure the size of the unregulated market, estimates from H2 Gambling Capital put it between SEK627m and SEK740m. Last week, a Spelinspektionen-commissioned survey found that only 5% of Swedes know how to check if an operator is licensed. This came despite the country introducing a SEK5000 deposit cap on online casino games from 2 July, which drew criticism from groups such as operator association Branscheforenigen för Onlinespel (BOS) and the International Betting Integrity Association (IBIA). Earlier this month the Swedish government announced that it intended to extend the measure until June 2021 and opened a consultation on the extension. Topics: Casino & games Finance Lottery Sports betting Bingo Casino regulation Online casino Slots Q3 results 2020 Regulation Gambling revenue in Sweden for the third quarter of 2020 was up 2.0% Q2 and 1.3% year-on-year to SEK6.04bn (£525.4m/€591.1m/$702.3m), with online revenue also increasing despite the controversial SEK5,000 casino deposit cap. As of this month, there are 100 licensed gambling operators in Sweden, of which 72 have online gaming licences. Email Addresslast_img read more

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Belgian Gaming Commission and Pro League team up to create new marketing guidelines

first_imgThe league and Commission said it felt it was important to go above and beyond the legal requirements in order to protect customers. 11th December 2020 | By Daniel O’Boyle Topics: Marketing & affiliates Regulation Marketing Marketing regulation Sponsorship “Each new collaboration will be announced to the Gaming Commission,” the league and regulator said. “When an operator commits infringements or loses its license, the Gaming Commission will also report this to the Pro League and the club for further action.” In addition, those operators without a Belgian licence may not sponsor a club, and all sponsors must be reported to the Cmmisison. The league and commission did not release the full guidelines, but said operators must not include an inducement to bet in their messages. “Advertising betting on certain stages of a match” is also not permitted, but the regulator did not elaborate on what type of bets this entails. Marketing & affiliates The Belgian Gaming Commission has strengthened its partnership with the Jupiler Pro League, the country’s top division of football, jointly introducing a series of responsible advertising guidelines, including a ban on partnerships with operators not licensed by the Commission. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Belgian Gaming Commission and Pro League team up to create new marketing guidelines “The absolute starting point of communication and marketing around games of chance and betting is the protection of consumers,” they said. “It is essential that excessive gambling should be prevented as much as possible. That is why the Gaming Commission and the Pro League want to go further than what is legally imposed today.” Tags: Football Belgian Gaming Commission Regions: Europe Western Europe Belgium An independent integrity committee will also be created, which includes representatives from the academic and sporting world. This committee will monitor clubs’ policies and create recommendations to enhance sporting integrity. Subscribe to the iGaming newsletter Email Addresslast_img read more

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Delaware iGaming revenue down again in November

first_img The Delaware Lottery reported a sixth consecutive month of igaming decline in November, with amounts wagered down to an eight-month low. Finance Some $16.4m was gambled in November, down 7.9% on October and the lowest figure since $16.35m was handled in March. Delaware iGaming revenue down again in November AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 15th December 2020 | By Richard Mulligan However, the November figure was still 32.3% greater than the $12.4m placed in November 2019. Since a record $29.5m was played in May – when the state’s three casinos were closed from mid-March until 1 June – Delaware has seen six straight months of contraction. Email Address Tags: Delaware Amount won was also at its lowest since March, with $15.9m recorded in November. That was down 7.6% compared to October, but up 32.5% on November 2019. Read the full story on iGB North America. Topics: Casino & games Finance Online casino Regions: US Delaware Subscribe to the iGaming newsletterlast_img read more

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