Month:

August 2021

Racing Post secures majority stake in Apsley

first_imgFinance Subscribe to the iGaming newsletter Racing Post secures majority stake in Apsley Racing Post has acquired a majority stake in sports betting website and mobile application business Apsley Group International Email Address Tags: Mobile Online Gamblingcenter_img Topics: Finance Sports betting Strategy Tech & innovation 10th May 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Racing Post has acquired a majority stake in sports betting website and mobile application business Apsley Group International. Terms of the deal were not disclosed, but Racing Post said the acquisition will support its ongoing diversification beyond horse-racing. Apsley owns and operates freesupertips.co.uk and myracing.com , as well as the FreeSuperTips and My Racing Results apps. James Prosser and Jake Apperley will continue to run Apsley on a day-to-day basis, while the company’s main office will remain in Bristol, England. “We are really excited to be joining forces with Apsley; what they have achieved with their digital products has been very impressive and the business is still growing strongly,” Racing Post chief executive and editor-in-chief, Alan Byrne, said. “Providing more sports betting content digitally is a key part of our strategy. “We are excited about what the future holds and really looking forward to working with James and Jake and their talented team.” Apperley and Prosser added: “We are delighted to have the opportunity to work with Racing Post; their strong brand recognition, wealth of experience and advanced technology will enable us to enhance our business and continue our growth.”Related article: Betfred, Racing Post partner on digital content venturelast_img read more

H2 Nordic Dashboard: Region to become €4bn market by 2023

first_img Regions: Europe Nordics Denmark Finland Norway Sweden Topics: Casino & games Finance Legal & compliance Lottery Sports betting Strategy Horse racing Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Casino & games The iGamingBusiness.com Nordic dashboard, in partnership with H2 Gambling Capital, suggests that the region will grow to a €4.46bn market by 2023, boosted by the introduction of igaming regulation in Sweden. 4th March 2019 | By contenteditor H2 Nordic Dashboard: Region to become €4bn market by 2023 The iGamingBusiness.com Nordic dashboard, in partnership with principal data partner H2 Gambling Capital, suggests that the region will grow to a €4.46bn market by 2023, boosted by the introduction of igaming regulation in Sweden.This growth will be underpinned by regulation, with H2 projecting that the share of gross win derived from licensed offerings will rise to 80.5% of gross win from 61.5% within five years, driven by channelisation and growth in the dot.se market. Indeed, growth between 2013 – a year after Denmark regulated – and 2018, then projections for 2018 to 2023 suggest that regulation is in fact a key driver of igaming growth.This will be achieved despite markets such as Norway and Finland showing no signs of shifting away from protectionist monopoly models. In each country, this has led to the development of successful offshore markets, despite increasing efforts to crack down on unlicensed activity in each country.For 2018, Nordic igaming gross win was €3.49bn, up 10.1% year-on-year. Sweden, which opened its regulated igaming market on January 1, 2019, led the way in the past year, accounting for 34% of gross win in the region for 2018. It was followed by Finland with a 25% share, with Denmark accounting for a further 20%.Sweden saw unlicensed activity continuing to grow in 2018, according to figures released by the country’s gambling regulator Spelinspektionen, and Finland’s Veikkaus cited unregulated growth as a factor in its decline for the year. However H2 suggests that Nordic players tend to gamble via regulated offerings, with licensed sites accounting for 61.5% of gross win, up 0.8 percentage points from 2017.Looking at the product mix for the past year, sports betting was by far the most popular vertical. Betting generated 40% of total Nordic igaming win in 2018, with casino coming in second with a 28% share. State lotteries, which have seen market share eroded as players shift to other verticals, accounted for 19% of the total.However the Nordic region does appear to be a little behind other regulated markets in terms of mobile uptake. In 2018 the channel accounted for 44.5% of igaming gross win, at a time when mobile has become the preferred way to gamble in other territories. Mobile is expected to grow consistently, H2 says, becoming the dominant channel in 2020, with its share of revenue increasing to 59.6% by 2023.This slow uptake may be down to the fact that aside from Sweden, igaming lags behind land-based gaming in the region. In Finland, for example, igaming accounted for 43.1% of total market revenue in 2018, and 43.8% in Iceland. Both Denmark (49.6%) and Norway (49.2%) have seen igaming grow in prominence, but both still lag behind Sweden, where online accounts for 51.9% of gambling revenue. Across the region, igaming accounts for 48.3% of revenue, which is expected to grow to 56.5% by 2023.H2 Gambling Capital is the gambling industry’s leading consulting, market intelligence and data team. The company has a track record of 18 years focused on the global gambling industry, its projections have been influential in shaping legislators’  and investors’ views of the gambling sector across the globe. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Email Addresslast_img read more

North Carolina tribal betting bill heads to Governor

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address North Carolina tribal betting bill heads to Governor Topics: Casino & games Legal & compliance Sports betting Tribal gaming Horse racing Regions: US North Carolina A bill to include sports betting in the list of Class III tribal gaming products is headed to the North Carolina Governor Roy Cooper after it was approved by the state’s House of Representatives. Senate Bill 154, finally went to a full House vote yesterday (July 15), after a reading scheduled for July 11 was delayed. It was approved by 90 Representatives, with 27 voting against. The bill, which was filed in February before stalling in a House committee after passing through the Senate in April, benefitted from the state’s legislative session being extended beyond July 1, to allow lawmakers to thrash out a budget deal.While the bill will bring sports betting to the state, it restricts it to tribal operators with existing Class III facilities, which currently only includes two venues operated by the Eastern Band of Cherokee Indians. Read the full story on iGB North America. Casino & games Subscribe to the iGaming newsletter A bill to include sports betting in the list of Class III tribal gaming products is headed to the North Carolina Governor Roy Cooper after it was approved by the state’s House of Representatives.  Tags: Race Track and Racino 16th July 2019 | By contenteditorlast_img read more

Better Collective snaps up MyBettingSites.co.uk

first_img Better Collective snaps up MyBettingSites.co.uk Regions: UK & Ireland Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Better Collective has completed the acquisition of online gambling information website MyBettingSites.co.uk in a deal worth up to £2.2m (€2.4m/$2.7m).Under the deal, Better Collective will pay £1.5m in cash and issue shares worth £350,000 no later than September 16, 2019 to take control fo MyBettingSites.co.uk’s parent company. An additional £350,000 will be paid in 2020 and 2021, pending certain agreed performance criteria.Founded in 2015, MyBettingSites.co.uk lists a wide range of UK-facing casino and sports betting websites, along with the various offers that each site is running.Ian Bowden, the founder and chief executive of MyBettingSites.co.uk, will remain with the business and join the Better Collective team.Better Collective chief executive Jesper Søgaard said the acquisition would help to strengthen the affiliate marketing giant’s position in the UK market, as well as add local SEO knowledge that can be leveraged on products across the group.“The acquisition is not large; however, it fits all our key criteria for integration into the Better Collective group, and the founder, Mr. Bowden, adds significant competences within UK sports betting, that we believe we can utilise across other assets,” Søgaard explained.Bowden added: “The site has become one of the leading sources of educational betting content for UK players, and Better Collective’s goal of making gaming both transparent and entertaining aligns to our own values. I look forward to leveraging the group capabilities and working across multiple products.”In 2018, MyBettingSites.co.uk generated approximately £440,000 in revenue, as well as earnings before interest, tax, depreciation and amortisation of £300,000.Deal comes after Stockholm-listed Better Collective last month reported a significant year-on-year rise in both revenue and operating profit for the first half of the year, as it benefitted from the impact of acquisitions in the period.Total revenue for the six months through to June 30, 2019 amounted to €30.7m, up 79% on €17.2m last year. This was largely driven by newly-acquired assets, with organic growth accounting for 28% of the increase.In particular the €30m acquisition of Ribacka Group, agreed in December 2018, helped Better Collective buck the downward trend reported by many other operators and suppliers in the Swedish market.Image: Max Pixel 2nd September 2019 | By contenteditor Better Collective has completed the acquisition of online gambling information website MyBettingSites.co.uk in a deal worth up to £2.2m (€2.4m/$2.7m). Topics: Casino & games Finance Marketing & affiliates Sports betting Strategy Casino & games Subscribe to the iGaming newsletter Email Addresslast_img read more

S-H prepares to fight for liberal German regulatory model

first_img S-H prepares to fight for liberal German regulatory model Regions: Europe Central and Eastern Europe Germany 19th September 2019 | By contenteditor Lawmakers representing Schleswig-Holstein’s ruling coalition have put forward a number of key regulatory objectives for the renegotiation of Germany’s federal gaming laws ahead of the annual meeting of state heads and chancellors. Casino & games Lawmakers representing Schleswig-Holstein’s ruling coalition have put forward a number of key regulatory objectives for the renegotiation of Germany’s federal gaming laws ahead of the annual meeting of state heads and chancellors.The meeting, which begins today (19 September) and runs until Friday, is the final meeting of state lawmakers before October’s Minister-President Conference, at which gambling legislation is to be a key topic.The Schleswig-Holstein lawmakers, representing the parties in the state’s so-called ‘Jamaika-Koalition’ wanted that they would push for a “fair, responsible, transparent and legal” gambling market. This, the quartet said, would only be possible when all products are regulated and monitored.The statement, from Hans-Jörn Arp, parliamentary leader of the Christian Democratic Unionists, Lasse Persdotter of Bündis90/The Greens, Jan Marcus Rossa of the Free Democratic Party and Lars Harms of the South Schleswig Voters’ Association continued:“One of our primary goals is to protect gamblers and minors from gambling addiction. In addition, we want to prevent fraudulent activities and effectively counteract the risk of money laundering.”To achieve this, they set out a number of key demands, highlighting Schleswig-Holstein’s stance for the negotiations over the new regulatory framework to be implemented from 30 June, 2021.As expected, the quartet highlighted the importance of online casino regulation. While they want to lift the State Treaty’s prohibition on in-play betting, they only propose doing so for final scores and next goalscorer, and not for other in-play events. Lotto, meanwhile, would be expected to be subject to the same advertising restrictions as all other forms of gambling.However, they also state their opposition to the “Trennungsgebot” which would prohibit gaming machines and sports betting being offered in the same land-based venue.Finally, they said, a uniform self-exclusion system, in place across all channels, must be established, with mandatory limit setting enforced to ensure players and young people were protected from gambling related harms.While lawmakers ratified the third amended State Treaty on Gambling in March this year, it is only in place as a placeholder until 30 June, 2021, alongside Schleswig-Holstein’s more liberal framework. This is largely to ensure federal online betting licences are finally awarded, with numerous attempts to do so halted by legal challenges since 2012.However, the Treaty has come in for criticism from the European Commission, which queried whether its restrictive conditions and short term would be effective in channelling players towards the legal market. Despite this, lawmakers insist that no further changes will be made. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Tags: Mobile Online Gambling OTB and Betting Shops Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance Sports bettinglast_img read more

New Jersey warns media outlets against promoting unlicensed sites

first_img The New Jersey Division of Gaming Enforcement (DGE) has written to news and media outlets in the state urging them not to publicise unlicensed sports betting websites.Writing in an open letter, DGE director David Rebuck said unlicensed sites lack consumer protections, integrity protocols and money laundering controls, which in turn puts players’ safety at risk.As such, the DGE said news and media outlets should only source information from websites that are licensed either in New Jersey or another regulated state.The regulator advised outlets to limit any discussions on wagering odds for an event when there is no authorised source available. Outlets were also urged to avoid including a hyperlink to unlicensed sites as consumers could use this link to access illegal gambling.If an unlicensed site must be mentioned in an article, the outlet should include a statement that the site does not hold a licence to offer sports bets in New Jersey. It should also provide a link to the DGE website, informing readers that this provides list of approved operators.Read the full story on iGB North America.Image: Famartin Legal & compliance New Jersey warns media outlets against promoting unlicensed sites 27th November 2019 | By contenteditor Regions: US New Jersey Subscribe to the iGaming newsletter Tags: Online Gambling Topics: Legal & compliance Marketing & affiliates Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The New Jersey Division of Gaming Enforcement (DGE) has written to news and media outlets in the state urging them not to publicise unlicensed sports betting websites. Email Addresslast_img read more

Sazka Group to purchase Novomatic stake in Casinos Austria

first_img10th December 2019 | By contenteditor Sazka Group to purchase Novomatic stake in Casinos Austria AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Subscribe to the iGaming newsletter Pan-European lottery and sports betting group Sazka Group has agreed a deal to acquire Novomatic Group’s 17.19% stake in Casinos Austria (CASAG).center_img Topics: Casino & games Strategy Pan-European lottery and sports betting group Sazka Group has agreed a deal to acquire Novomatic Group’s 17.19% stake in Casinos Austria (CASAG).Though terms of the agreement have not been undisclosed, the deal will be subject to applicable regulatory conditions and notifications, as well as approval from other shareholders in CASAG.Sazka Group said it will ensure Österreichische Beteiligungs (ÖBAG), a body that manages public investments in companies that play a key role in Austria, will have representation on the CASAG supervisory and executive boards.Following the transaction, Novomatic will retain its 11% stake in Österreichische Lotterien, a subsidiary of CASAG.The operator has been jointly controlled by Novomatic and Sazka since 2016, when the pair agreed “a strategic partnership of equals” to manage both CASAG and Österreichische Lotterien. However, each partner admitted that this structure has not produced the anticipated results.“The previous ownership structure has not led to any satisfactory development of Casinos Austria, and as the smallest major shareholder, we have decided to sell our shares in order to give CASAG a clear and sustainable ownership structure so that the company can meet the long-term challenges of the national and international markets is prepared for global markets,” Novomatic chief executive Harald Neumann said.Sazka Group chief executive Robert Chvatal added: “We are convinced that this is the best solution for the company. We want to secure stable and positive development for CASAG in a long-term partnership between its two largest shareholders.“We are committed to working together with ÖBAG and the CASAG team to ensure sustainable development for the benefit of our customers, employees and business partners. We are prepared to focus on CASAG’s core business and bring innovation to market.”The acquisition comes at an uncertain time for Casinos Austria after last month Austria’s leading gambling trade group called for an end to its monopoly in light of the political scandal currently engulfing the operator.The Austrian Association for Betting and Gambling (OVWG) spoke out in response to an investigation into the relationship between Casinos Austria, its chief finance officer Peter Sidlo, who is also a Freedom Party of Austria (FPO) district councillor in Vienna, and Novomatic.It was claimed that Sidlo’s appointment was linked to licence awards in Vienna, but Sidlo and Novomatic deny any wrongdoing.Economic and Corruption Prosecutor’s Office (WKStA) officers had carried out further raids as part of their investigation following on from initial searches back in August.Casinos Austria has had a monopoly on casino operations in Austria since 2016, when three other operators had their licences revoked.Aside from Casinos Austria, Sazka Group recently upped its stake in OPAP to almost 40% after the completion of an offer period during which it attempted to acquire all the Greek operator’s outstanding shares.Sazka Group came to an agreement with around 7.25% of OPAP shareholders during the offer period, which concluded on 29 October. It owned around 33% of OPAP prior to the offer period having purchased a major stake in 2013 through venture Emma Delta when the operator was first privatised.In total it has agreed to acquire 23,323,179 shares at €9.12 – amounting to €212.7m (£178.9m/$235.7m). It had earmarked €2.06bn for the total outstanding shares. Casino & games Regions: Europe Western Europe Austrialast_img read more

EY report: GB gambling contributed £7.7bn to economy in 2019

first_imgWhile the remote sector had the largest overall GVA, at £3.8bn, retail betting shops made the largest direct contribution, at £1.1bn. As a result of this lower revenue and employment, BGC members’ GVA in 2020 is expected to be £1.1bn lower than 2019, at £1.5bn. The overall GVA is expected to decline to £6.2bn from £7.7bn. The BGC added that the pandemic has already led to closures of 374 betting shops and six casinos, and the loss of 5,000 jobs. Finance Breaking down this total, £2.6bn came directly from the operations of BGC members. A further £2.9bn was indirect, through demand these members created down the supply chain. Topics: Casino & games Finance Sports betting Regulation “As the standards body representing the regulated industry, the BGC fully supports the government’s Gambling Review plus the need for continued higher safer gambling standards and more change to regulation,” Dugher said. Looking at employment in more detail, BGC members employed 61,000 staff directly in 2019. EY noted that these members tend to be younger than in most industries. The report estimated members created another 44,000 indirect supply chain jobs and 14,000 jobs supported sector employees’ spending. The report also expected employment to reach 2019 levels in 2022 and to exceed this in 2023 with 63,000 people employed. With brick-and-mortar facilities closed for much of the past year, it anticipated retail betting revenue falling 45% to £1.6bn. Casino revenue is expected to fall by 70% to £300m, following several months of lockdowns. Revenue for London’s high-end casinos is expected to fall even further, by 75% to £39m. BGC members’ suppliers paid a further £700m in duties, while taxes from businesses supported by industry spending came to £600m. Breaking this down by region, GVA was highest in the North of England at £850m, followed by London at £730m. “However, it is vital that the government gets those changes right and does nothing to put at risk the futures jobs and tax take of a growing, world-leading British industry. Email Address BGC chief executive Michael Dugher said the importance of the sector on the economy was worth noting at a time when the nation’s finances had been severely impacted by the Covid-19 pandemic. EY added that the sector made an additional contribution to the economy via sport, including £70m spent on sponsorship and an estimated £97m through the horserace betting levy in 2019/20. It said the overall contribution of the sector on horseracing including sponsorship and advertising came to £350m. Looking at tax, BGC members were estimated to have paid a combined £3.2bn in 2019. Of this total, betting and gaming duties made up £1.6bn, while operators paid £1.5bn in other taxes. The remote sector paid the most taxes, at £1.8bn. The report added that employment in the industry is highest in the North of England, where 27% of retail betting and 43% of remote jobs are located.  In addition, the report noted the gambling sector provides 61,000 jobs across the country, while contributing indirectly to a further 58,000 jobs. However, its contribution, both in financial and employment terms, is to fall in 2020, as a result of the novel coronavirus (Covid-19) pandemic. Regions: UK & Ireland The report then attempted to estimate the impact of Covid-19 on the revenue of each sector of the industry. It said remote revenue was likely to rise by 7% in 2020 to £5.9bn, largely due to substitution.  Finally, £2.2bn was defined as induced, meaning it came from spending by those employed by BGC members. It anticipated that in 2023, overall gross gambling yield will be £11.1bn, up from £9.5bn in 2019. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter “From hospitality to high streets, the betting and gaming industry makes a huge contribution to the UK economy,” BGC chair Brigid Simmonds said. “Casinos in London alone contribute £120m to the tourism sector, and look forward to being open once again. Looking further ahead, EY said it expected the market as a whole to recover in the longer term, but said retail betting revenue may stay below 2019 levels.  The £7.7bn figure, comprises the contribution the industry adds to Britain’s gross domestic product (GDP) in 2019, known as its gross value added (GVA). 29th March 2021 | By Daniel O’Boyle The British gambling industry contributes £7.7bn to the country’s economy according to an Ernst & Young report commissioned by the Betting and Gaming Council (BGC). At this point, it expected remote betting revenue to be up 31% from 2019, casino revenue up 3% and high-end casino revenue up 20%. However, it said retail betting revenue was expected to remain 9% below 2019 levels. “At a time of economic fears and huge pressures on public finances caused by the Covid-19 pandemic, the huge contribution betting and gaming makes to UK plc could not be more important,” Dugher explained. EY noted that while the sector’s GVA came to 0.13% of Britain’s economy, it paid 0.4% of taxes. Subscribe to the iGaming newsletter Dugher added that, with the government’s review of the Gambling Act underway, it should keep the sector’s impact on the economy in mind. The report was based on data from the Gambling Commission, Office of National Statistics (ONS), the BGC, revenue data from Her Majesty’s Revenue and Customs. EY report: GB gambling contributed £7.7bn to economy in 2019 Tags: Betting and Gaming Council It said employment is expected to fall from 61,000 to 56,000, with the fall cushioned somewhat by the government’s furlough scheme. The sharpest drop is expected in high-end casinos, with employment expected to fall from 1,200 to 800. “The contribution made to the Treasury by the betting and gaming sector, its support for sport and the jobs they offer to young people, so many of them highly skilled, are absolutely vital, especially in these uncertain times.” The report noted that GVA per person at these supply chain jobs was especially high, due to high spend by BGC members in areas such as marketing.last_img read more

Saarland ratifies German online casino treaty

first_imgThe implementation of GlüNeuRStv was dependent on ratification from 13 states, in accordance with article 3 of the legislation. Subscribe to the iGaming newsletter Saarland ratifies German online casino treaty The governing Christian Democratic Union (CDU) and Social Democratic Party (SPD) voted for the bill, as did Die Linke, while Alternativ für Deutschland (AfD) abstained. Table games will be required to be offered separately, and individual states will retain the option to grant lotteries a monopoly for the product.  The proposal was first approved in March 2020, and it aims to legalise online poker and casino games in the country from July 1 2021. As opposed to the previous Schleswig-Holstein model, GlüNeuRStv will be much more restrictive when it comes to online casnios. Topics: Casino & games Sports betting Casino regulation Online casino Online sports betting Sports betting regulation The State Treaty on Gaming in Germany – Der Glücksspielneuregulierungstaatsverag (GlüNeuRStv) – has unanimously passed the second reading within Saarland’s state parliament. Regions: Europe Central and Eastern Europe Germany After being cleared within Saarland, attention turns to the two remaining states yet to go through the process: Nordrhein-Westfalen and Sachsen Anhalt, the latter of which will host the new regulator.center_img Casino & games Email Address The agreement also extends to sports betting, although the state will still retain control of the lottery markets. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter It attained last month after after the state parliaments in Schleswig-Holstein and Sachsen ratified the treaty. Tags: Germany Online slots and poker will also see a steep 5.3% turnover tax. 16th April 2021 | By Nosa Omoigui Slots will be capped at €1 per spin, with a five-second average spin speed in place.last_img read more

Vivo Gaming becomes first live casino supplier to receive Isle of Man approval

first_img Tags: Vivo Gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Legal & compliance Online casino Licensing Regulation Live casino software provider Vivo Gaming has seen three of its studios successfully audited by Gaming Laboratories International (GLI), becoming the first live casino provider certified in the jurisdiction. Nadine Thys, head of account management at Vivo Gaming said: “We are delighted to have successfully completed the audit process of three of our studios with flying colours. This will allow for the distribution of Vivo Gaming’s certified products across the Isle of Man via the island’s Gambling Supervisory Commission (GSC) licensees. “This allows us to open the first regulated live casino offering on the Isle of Man which is a huge milestone for us as a company and will take us to the next level as we rapidly grow our regulated footprint.” 28th April 2021 | By Nosa Omoigui Online casino “We hope this will be the first step to further growth for both Vivo Gaming and the jurisdiction of the Isle of Man, and that GLI will have the opportunity to further support both.” The Isle of Man gaming market is growing steadily, with license applications up by 30% last year. GLI’s vice president of sales James Illingworth added: “GLI recognizes this marks an exciting time for Vivo Gaming and their Live Dealer enterprises. We enjoyed working with Vivo Gaming’s team who were found to be helpful and professional throughout the rigorous audit processes. The supplier is set to go live with Ableton Prestige Global – its first Isle of Man operator. Regions: Europe Vivo Gaming becomes first live casino supplier to receive Isle of Man approval Subscribe to the iGaming newsletter Email Addresslast_img read more