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17 Sep
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Betsoft signs content agreement with Gamingtec

In a key development in the iGaming world, Betsoft Gaming signed a content agreement with Gamingtec, a B2B provider.

As per terms of the contract, Gamingtec will have access to Betsoft’s wide array of premium 3D iGaming entertainment.

 ‘Slots3’ collection of true 3D video slots and ‘ToGo’ mobile line of products too are part of this deal.

Commenting on this deal, Gamingtec chief executive Sapar Karyagdyyev said:

“We know from research that these games are popular with players,”

“We are sure that Betsoft games will provide us with a good competitive advantage and will allow us to attract even more players.”

 

Tom Nyborgof Betsoft stated:

“Gamingtec is a dedicated and comprehensive platform provider; their growth has been phenomenal, a great indicator of the success they will achieve in this industry.

“We are tremendously excited to be partnering with them at this time and are looking forward to what innovative solutions they will bring to the market as they continue to develop.”

17 Sep
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Betsson agrees deal to acquire Tonybet’s Lithuanian business

In a big move in the iGaming world, Betsson is set to acquire Lošimų Strateginė Grupė, the parent firm of TonyBet’s Lithuanian business.

 

According to media reports, a deal in the range of €4 million ($4.5 million) was agreed upon by the two parties.

Betsson confirmed the news and announced it had secured all TonyBet Lithuanian assets for 3.6 times the company’s revenues before interest and tax to-date for this financial year.

Another interesting feature that is part of this deal is the €2 million performance-based bonus that is linked to the assets milestones for 2017.

Commenting on this move, Betsson president and chief executive Ulrik Bengtsson said:

“We see strong synergies in this acquisition, through migration of the operator to Betsson’s technical platform, and development of the casino offering.

“This acquisition is a good strategic fit for Betsson Group as Betsson’s ambition is to increase revenue from locally regulated markets.

“We have now consolidated our presence in the Baltic region by ensuring local licenses in all three markets, and continue to pursue growth across Europe, organically and through acquisition.”

 

17 Sep
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Relax Gaming granted Romania license, NetEnt goes live

In a major development in the iGaming world, Relax Gaming secured a B2B supplier license Romanian's regulated market.

This will help Relax Gaming offer, via the Silver Bullet platform, its multiple casino games to operators.

Not just that, the company's partners will also have access to its bingo and poker games.

Commenting on this move, Patrik Österåker, chief executive of Relax, said: 

“Moving into new regulated markets is a natural step for Relax and part of our growth strategy.

“We are very pleased to have been granted a license in Romania, which is an attractive and growing market for us.

“The license allows Relax to support our valued partners as they retain and grow their presence in this important jurisdiction.”

In another significant development, Net Entertainment (NetEnt) launched its games in Romania after acquiring a license earlier in 2015.

Enrico Bradamante, chief of European market operations and managing director of NetEnt Malta, commented: 

“We keep delivering on our global growth strategy by strengthening our position on regulated markets and we are very pleased that our popular games are now also available in Romania.” 

 

09 Aug
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In blow to iGaming industry, Israel to ban racing and gambling machines

In a significant new development, Israel is all set to ban gambling machines and horse racing betting in the country.

Finance Minister Moshe Kahlon and Justice Ministry Director General Emi Palmor announced this decision at a joint press conference.

This action of the government comes on the back of a report by the Commission on Gambling Regulations.

The two ministers revealed that their ministries would bring into effect all the recommendations made by the commission.

Some of them involve a cap on the size of the regulated iGaming market, ban on games with an addictive nature, increase in tax on the revenues from iGaming among others.

Currently, the only two companies that are operating with the government’s consent are Mifal HaPayis and Sports Betting Council.

Earlier in the year, the government published a report that argued for the benefits of gambling revenues to the economy. With the latest decision however, all hopes of Israel allowing casinos are certainly dashed.

Commenting on the decision of the two ministries, Kahlon said:

“Israel’s weakest and poorest are being sold illusions and false hopes every day. As of next year, there will not be a single gambling machine or any horse racing in Israel.

“It is no coincidence that these gambling machines are found mostly in poor neighborhoods. It is also not a coincidence that we see a sharp rise in lottery revenue the day after welfare checks are sent out every month.

“Unregulated gambling exclusively and deliberately targets and hurts the country’s weakest communities so as long as I am finance minister, there will be no casinos in Israel."

02 Aug
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Chinese consortium to acquire Playtika from Caesars for $4.4bn

Caesars Entertainment Corp is set to sell its Playtika business for $4.4 billion (€3.9 billion) to a Chinese consortium.

The investors, led by Shanghai Giant Network Technology Co., the online casino-style games unit will continue to be operated from the company’s headquarters in Herzliya, Israel.

Also, the Playtika team will manage the daily operations as was done before this deal.

The all-cash deal involves Yunfeng Capital; a private equity firm founded by Alibaba Group Holding founder Jack Ma; China Oceanwide Holdings Group; China Minsheng Trust Co.; CDH China HF Holdings Company Limited; and Hony Capital Fund.

Commenting on this agreement, Shanghai Giant Network Technology founder and chairman, Shi Yuzhu, said.

“Playtika's growth has been exceptional, and highlights its outstanding team, excellent corporate culture, cutting-edge big data analytics, and its unique ability to transform and grow games.”

Robert Antokol, co-founder and chief executive of Playtika, stated:

“This transaction is a testament to Playtika's unique culture and the innovative spirit of our employees who for the past six years have consistently designed, produced and operated some of the most compelling, immersive and creative social games in the world.”

Mitch Garber, chairman and chief executive of Caesars Interactive Entertainment, commented:

“It has been a particularly rewarding experience growing Playtika from a 10-person start-up, when CIE acquired them in 2011, into a global leader.

“Playtika today is a highly profitable growth company with more than 1,300 employees, multiple top grossing titles and millions of daily users."

The agreement needs to get some regulatory and is likely to be sealed by third or fourth quarter of this year.

 

01 Aug
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FanDuel to launch fantasy football product in UK ahead of new Premier League season

Fantasy sports lovers in the UK could be in for exciting times, as FanDuel is set to release its fantasy football product in the country very soon. In fact the platform is likely to be launched when the new Premier League season kicks off.

Interestingly, the company has never ventured outside the North American territory, despite setting up a business in Scotland’s Edinburgh in 2009.

While the market leader is Draft Kings, FanDuel now has over 6 million registered users in the continent. This is no mean feat considering the fact several stated posed legal hurdles to the company.

The firm’s UK launch is considered as the “first step in its international expansion plans”.

FanDuel attracted investments worth $275 million in 2015, which suggests the product has an approval from the people who matter.

FanDuel director of international marketing, Karol Corcoran said:

“Our team has spent a lot of time on developing the right product for the UK’s football fans and we’ve already had a lot of positive feedback from users during our beta contest phase, which was rolled out during the 2016 Euros. We can’t wait to bring the full product to market.”

DraftKings in UK launched its daily fantasy sports offering earlier this year in February.

Despite the presence of its main rival, FanDuel intends to seize market control with innovation in UK’s in-play sports betting market.  It has also teamed up with leading sports statisticians Opta.

Explaining the company’s collaboration with Opta, Corcoran explained:

“Opta’s stats also play a critical role in our unique scoring system, which considers the contribution of every player on the pitch, not just those who score goals – ensuring a more realistic and compelling reflection of the on-field action.”

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