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Ambitious payments and compliance expert hired as new COO in exciting internal move
MALTA, 3rd October 2023 – White Label Casinos, the go-to provider of white-label casino solutions to the iGaming industry has named Gabor Budai as its new Chief Operating Officer.
Budai has a wealth of experience in the iGaming industry and is no stranger to White Label Casino’s operations, having moved internally from iGaming Platform (iGP), where he served from 2021 until 2023.
Prior to joining iGP, Gabor spent more than half a decade within the sector, starting his career as a Customer Service Agent at Unibet Group before branching into specialist roles within payments and compliance at several high-profile companies including Casumo, Royal Panda and L and L Europe.
As part of his new role as Chief Operating Officer, Gabor will call upon his extensive industry expertise to help guide White Label Casinos’ operational teams forward as the company continues to grow as a market leader within its field. His main focus will be to develop and implement strategic plans to drive growth, profitability, and operational excellence, as well as foster a culture of high performance, accountability, and innovation.
Gabor Budai, Chief Operating Officer at White Label Casinos, said: “I am absolutely thrilled to be named White Label Casinos’ new Chief Operating Officer.
“It’s an incredibly exciting moment to join the company. I look forward to working with highly experienced teams to drive forward our growth during this exciting new chapter. I absolutely cannot wait to get underway in this new role!”
Celebrating this new hire, Phil Pearson, CEO of White Label Casinos, added: “We are delighted to have Gabor on board!
“We had a lot of top talent both internally and externally apply for the role, but Gabor stood out as the right man with his expertise and vision. Together we can keep focusing on making white labels a first-class experience for clients and players. We are all pleased to see him step up to the role of Chief Operations Officer and want to congratulate him on his appointment.”
The mother of all conferences is backEmbark on a transformative journey at SiGMA Europe 2023, unfolding in the heart of Malta from November 13th to 17th. SiGMA’s Malta Week festival promises an unparalleled fusion of innovation and connection. Step into the extraordinary Mediterranean Maritime Hub (MMH), where tradition meets avant-garde in a space meticulously crafted to redefine your experience.
As a testament to our ethos of giving back, immerse yourself in our traditional charitable art auction for the Sigma Foundation, an integral part of Malta Week. This event mirrors our dedication to philanthropy, seamlessly woven into the fabric of our grandest event.
The French commercial online gambling sector has witnessed robust growth, with Gross Gaming Revenue (GGR) surging by 10.1 percent year-on-year to reach €1.18 billion in the first half of 2023, according to data released by the Autorité Nationale des Jeux (ANJ). While this indicates a promising trajectory, the sector is still slightly below its performance in H1 2021 when GGR touched €1.21 billion.
Online sports betting dominates
Within the commercial sector, online sports betting emerged as a strong driver of growth, contributing €750 million to the H1 2023 total, an increase of 9.5 percent compared to the previous year. Simultaneously, GGR from horse racing betting experienced a steady rise of 4.7 percent reaching €177 million, while online poker saw a remarkable surge of 16.2 percent, reaching €251 million. Interestingly, online poker was the only segment that outperformed H1 2021, attributed to various factors, including the postponed Euro 2020 tournament and temporary retail betting outlet closures during the Covid-19 pandemic.
Football leads the way
Football continues to reign supreme in the online sports betting segment, accounting for a substantial 58.2 percent of all H1 GGR, totaling €436.8 million. Tennis emerged as the next most popular sport, generating €175.4 million in GGR, followed by basketball with 10.3 percent of GGR at €76.9 million and rugby contributing 1.2 percent at €9.2 million. The total GGR from online sports betting reached €750 million, derived from a handle of €4.19 billion, resulting in an approximately 17.9 percent hold rate for operators.
While the commercial online sector displayed impressive growth, France's state-owned lottery and horse racing operators, La Français des Jeux (FDJ) and Pari Mutuel Urbain (PMU), continued to be major revenue contributors to the French gambling market. FDJ achieved €3.3 billion in GGR from €10.48 billion in stakes, marking year-on-year growth rates of 2.4 percent and 4.5 percent for GGR and stakes, respectively. Meanwhile, PMU generated €873 million in GGR, marking a 0.7 percent increase from €3.43 billion in wagers, reflecting a 1 percent increase.
Changes in online casino regulation
A development in the French gambling landscape is the introduction of a legislative bill in May this year, aiming to bring regulated online casinos to the market. Despite a thriving online betting market and over 200 land-based casinos, online casinos remain prohibited in France. According to the proposed timeline, French companies are expected to launch online casino operations in 2025, commencing a five-year 'moratorium' period during which international operators will be excluded from the market. This legislation intends to provide national players with a conducive environment for growth before a complete opening of the market on 1 January 2030.
Previous statistics from the ANJ indicate that between 1.4 million and 2.4 million French players currently use overseas, unregulated operators for online casino gaming, resulting in an estimated annual expenditure of around €2 billion. The anticipated introduction of online casino regulation is poised to significantly boost GGR figures in France's online gambling sector in the years to come.
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STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.
A national controversy – no end in sight for Okada Manila
The Hellenic Competition Commission (HCC) has imposed a substantial fine of €24.6 million on OPAP, Greece's prominent gaming company, for violating competition laws. The investigation, spanning the years 2017 to 2021, was triggered by complaints lodged by two parties: the Hellenic Cooperative of Professional Lotteries' Agents (SEPPP) and a coalition of other agents. The complaints allege that OPAP's 2017 exclusivity agreement contained "non-compete clauses" under Article 13, which extended to ancillary activities.
The accusations included charges of anti-competitive practices and the exploitation of market dominance, prompting concerns over potential violations of both the Greek Competition Act and European Union competition regulations.
Contravention of Greek and EU competition law
The HCC's investigation took a comprehensive approach, encompassing OPAP's land-based gaming activities, which include sports betting, lotteries, gaming machines (including OPAP Video Lottery Terminals and casino slot machines), state lotteries, and horse-race betting. Additionally, it scrutinized ancillary services such as bill payment, money remittance, and distribution of third-party products.
Following a thorough examination, the HCC reached the conclusion that OPAP had indeed engaged in non-compete and tying practices across all relevant markets, thereby contravening both Greek and EU competition law. Moreover, OPAP's contractual commitments in ancillary markets were found to obstruct competition and innovation, potentially affecting the availability of products and services. Consequently, OPAP has been ordered to cease these practices and has been cautioned about facing a daily fine of €10,000 for non-compliance.
Discrepancy in allegations
In response to the HCC's decision, OPAP expressed strong disagreement, characterizing it as "fully baseless." The company released a statement categorically denying the alleged practices and announced its immediate intention to appeal the decision before the relevant courts. OPAP stated that the HCC's decision pertains specifically to bill payment services and mobile top-up services offered by its agencies, rather than its core gaming business. Additionally, OPAP pointed out discrepancies between this decision and one of the authority's prior rulings, as well as numerous judgments by civil courts.
OPAP argued that the HCC's decision was founded on flawed assessments of market conditions, a deficient data collection process, insufficient examination of evidence, and an arbitrary interpretation of regulatory frameworks governing its agency operations. Furthermore, OPAP criticized the calculation of the imposed fine, contending that it was based on the company's total turnover rather than the smaller turnover specific to the markets where the alleged violations occurred.
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STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.
A national controversy – no end in sight for Okada Manila
The Nigerian government has made a commitment to address various challenges facing the country's efforts in tackling gambling regulation. This includes the implementation of a much-anticipated central monitoring system (CMS) “as soon as possible".
During a recent visit to the National Lottery Regulatory Commission's (NLRC) office on September 22, Zaphaniah Jisalo, the Minister of Special Duties and Intergovernmental Affairs, also committed to enhance salaries and working conditions at the NLRC.
Jisalo aims to assist the NLRC in overcoming its substantial hurdles, such as significant financial losses to illegal gaming operators in the country and issues related to corruption, as stated in a press release by the ministry on September 22.
According to an NLRC press release on September 29 documenting the Minister’s visit to the NLRC Headquarters in Abuja, the Minister committed to expediting the legislative process for the Lottery Act, recognizing the need for a fresh start due to past challenges. He gave his assurance that this legislative effort would result in the enactment of a new law within a 90-day period.
Jisalo emphasized that strengthening cooperation with the NLRC is crucial to President Bola Tinubu's 8-Point Agenda which focuses on objectives like food security, poverty alleviation, economic growth, job creation, access to capital, inclusivity, upholding the rule of law, and combating corruption.
The NLRC has persistently advocated for swift legal amendments to modernize the country's regulatory framework and has championed the need for a CMS for several years.
Anticipated for early 2021, the CMS has yet to be implemented, with a federal task force formed in 2020 during the interim to recover an expected N8 billion (€17.7 million) in overdue gambling taxes.
Nigerian gaming regulation woesVixio has reported that in July 2021, George Akume, the former Minister of Special Duties and Intergovernmental Affairs, expressed disappointment over the meager revenue generated by Nigeria's gambling industry for the government in 2019, amounting to less than N1 billion (€2 million), during a speech at the National Gaming Conference. He deemed this revenue as unsustainable and unacceptable.
More recently, speaking during a panel last month, Olabimpe Akingba, the executive secretary of the Association of Nigerian Bookmakers said that the current gaming market in Nigeria is facing a number of challenges. He referred to the ongoing legal dispute between state and federal gaming regulators regarding which of the two has the right to regulate gaming operators in the country. Akingba accused regulators of focusing of shrugging their responsibilities related to responsible gaming.
Join us in Malta between the 13 - 17 November for SiGMA Europe 2023SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.
In the words of SiGMA Group founder Eman Pulis, “We’re redesigning your entire experience, from the minute you land in Malta until the very last moment. I look forward to welcoming you with open arms to this iGaming festival.”
Find all the details here.
What are the most popular games? What iGaming providers have achieved the greatest success? SOFTSWISS, an innovative company providing a complete ecosystem of comprehensive software solutions, shares valuable insights across regional markets.
The analysis presented is based on the Game Aggregator data spanning the second half of 2022 and the first half of 2023.
Europe
Slot games remain popular in Europe, even though they lost around five p.p. during H2 2022 and H1 2023. Despite this decline, their market share still exceeds 80% among the other gaming categories. In contrast, card games improved their position by almost four p.p.
The top five most popular game categories underwent minor changes in Q2 2023. The Total Bets Sum in Craps games saw a substantial increase, growing 2.7 times in comparison to the previous quarter. This boost in performance secured the fifth position for this type of games in the top rankings, displacing casual games.
Gates of Olympys, Big Bamboo and Midas Golden Touch emerged as some of the most popular games during the past year. Notably, the landscape of top games exhibited significant variations from quarter to quarter.
In the European gaming sector of 2022-2023, top-performing game providers include Amatic, Amusnet (EGT), BGaming, Evolution, Pragmatic Play, Push Gaming, and Relax Gaming. Their positions in the rankings experienced subtle shifts from quarter to quarter.
Asia
The top five most popular game categories in Asia have exhibited a consistent trend since the final quarter of 2022. Slot games hold a prominent position in the asian gaming landscape, with their market share exceeding 80% compared to other categories.
Gates of Olympys claimed the title of the most popular game in Asia in Q4 2022, and has maintained its leading position since. Meanwhile, another popular game, Bonanza Billion, has experienced fluctuations in its rankings within the top five since the end of the previous year. The Total Bets Sums of Aviator increased twofold during the first half of this year, propelling the game into a leadership position. In contrast, the once-popular game, Hot Fruits, lost its foothold in the top rankings during the second quarter of 2023.
As for the most successful game providers in Asia, it should be noted that Evolution, Pragmatic Play and BGaming have continually jostled for positions within the top five over the past four quarters under review. Play’n Go and Amatic ceded their places in the rankings to 1spin4win and Amusnet (EGT), with the latter heading the list in Q2 2023.
Tatyana Kaminskaya, Head of SOFTSWISS Game Aggregator, comments: “The popularity of the Aviator game can be explained by simple interface and fast payouts. What sets it apart even further is its distinctive gameplay mechanics, which significantly differ from other crush games in the market. Notably, Aviator provides players with the illusion of “control” over the game, adding an extra level of excitement and intrigue.”
Latin America
The top five of the most popular game categories in LatAm have remained consistent over the last year, with almost 60% of these categories dominated by slots.
The current top five most popular games are as follows:
Roleta Brasileiri – 8.27%
Aviator – 5.97%
Gates of Olympus – 5.24%
Sweet Bonanza – 3.44%
Crazy Time – 3.14%
Notably, Aviator surged to the top in Q4 2022, experiencing a significant increase in the Total Bets Sum, nearly 170 mln euro more in comparison with the previous quarter. This success propelled its provider, Spribe, from the tenth place in Q3 2022 to the fourth in Q2 2023, displacing Play'n GO from the top five. Other providers, specifically Pragmatic Play, Evolution, Playtech, and BGaming, remained in the top with minor shifts in their rankings over the past year.
The top five most popular games account for approximately 25% of the Total Bets Sum across all games in Latin America, while in Europe and Asia the same covers around 10%. Another noteworthy market trend is the displacement of slots with roulette, and the growing preference for live games.
Carla Dualid, Regional Business Development Manager at SOFTSWISS in LatAm, comments: “Players in Latin America in the context of online gambling may differ from players in Europe in several ways. Most Latin American players bet through mobile devices and prefer online play. Local casino slot players tend to place small but regular bets, which distinguishes them from European online casino players, who, in turn, bet less frequently, but wager larger sums on slots. Speaking about the LatAm market, we should keep in mind that Brazil is the most active player in it. Such factors as economic potential, increasing Internet penetration, mobile accessibility, and regulatory changes are making the Brazilian market more attractive for operators.”
SiGMA Europe’s Malta Week festival is the ultimate gathering of global industry leaders, offering a captivating blend of exhibitions, conferences, and unparalleled networking. This thrilling event is set to unfold at the Mediterranean Maritime Hub (MMH), an exceptional and vibrant venue known for its industrial and avant-garde ambiance.
In a delightful turn of events, Kim Kardashian and Tom Brady found themselves playfully sparring at the inaugural REFORM Alliance Casino Event. Hosted by Michael Rubin, Jay-Z, and Meek Mill at the Ocean Casino Resort in Atlantic City, New Jersey, the event brought these renowned personalities together for a good cause.
All in good funThe highlight of the evening was an art bidding war, with Kim and Tom both vying for a valuable painting by artist George Condo. After a spirited back-and-forth, they both graciously contributed $2 million each.
Rather than a competition, it became a heart-warming agreement, showcasing their generosity and redirecting star power towards a good cause.
In a unique twist, George Condo, moved by their kindness, decided to create another artwork. This piece was to be a special gift for the individual who didn't secure the first painting, adding an extra layer of warmth to this charitable encounter.
Star-studded momentsTom Brady also made a generous gesture by auctioning off the jersey he wore during his historic 700th career touchdown, offering a lucky bidder a piece of football history. While seated beside her close friend Lala Anthony, Kim Kardashian shared a light-hearted moment with Travis Scott, Kylie Jenner's former boyfriend. Despite not being photographed together, these star-studded encounters added a touch of glamour to the event, which successfully raised $24 million for criminal justice reform.
The room was abuzz with celebrities, including Kevin Hart, Gayle King, Tiffany Haddish, Alex Rodriguez, Matthew McConaughey, Jack Harlow, Quavo, and Lil Kim, among others. Capturing the essence of the night, Michael Rubin, one of the event organisers, took to Instagram to share a series of photos featuring Kim, Tom, and other high-profile guests, commemorating the event's triumphs in the realm of charity and camaraderie:
"What a night !! Thank you to everyone who came out and made our first #ReformCasinoNight a huge success!! Less than 0.01% of philanthropic giving is utilised for criminal justice reform, but last night we raised nearly $24M making our inaugural Casino Night one of the most successful fundraisers ever," he wrote. "Thanks to so many friends who supported this critical issue, @reform will be able to significantly scale their impact in more communities and transform millions of lives."
Kim and Tom, sitting in a tree?
Kim Kardashian and Tom Brady are no strangers to using their star power to create headlines, especially at events hosted by Michael Rubin. Last July, the duo ignited dating speculations when they were spotted having a friendly conversation at the annual all-white party.
Michael Rubin, the event organiser, clarified the situation, asserting that Kim and Tom are simply good friends. He dispelled the dating rumours, explaining that they were just enjoying themselves at the event.
Tom's rare appearance at social gatherings and Kim's limited alcohol consumption led to the gossip, but, according to Michael, it was all in good humour.
The mother of all conferences is backEmbark on a transformative journey at SiGMA Europe 2023, unfolding in the heart of Malta from November 13th to 17th. SiGMA’s Malta Week festival promises an unparalleled fusion of innovation and connection. Step into the extraordinary Mediterranean Maritime Hub (MMH), where tradition meets avant-garde in a space meticulously crafted to redefine your experience.
As a testament to our ethos of giving back, immerse yourself in our traditional charitable art auction for the Sigma Foundation, an integral part of Malta Week. This event mirrors our dedication to philanthropy, seamlessly woven into the fabric of our grandest event.
The platform (PAM), casino and sportsbook solutions provider announced the newest addition to the Soft2Bet team, Mr. Martin Collins, stepping into the pivotal role of Chief Business Development Officer (CBDO). With over two decades in the digital markets, Martin's track record speaks for itself, most notably as the Director of Sales and Business Development at Gaming Innovation Group (GiG), where he and his team secured an impressive 21 Platform deals in just one year.
At Soft2Bet, Martin's expertise will be invaluable in enhancing the company's innovation course in the dynamic world of PAM, online casino and sportsbook solutions. With his guidance, Soft2Bet is poised for continued growth and leadership in the B2B market. The new exciting chapter in the company story is beginning.
“The worldwide Platform, Casino and Sports B2B market continues to diversify and there are unparalleled opportunities for providers with the right ‘tech’ solutions to bring value to operators, accelerating their growth. Soft2bet has and continues to invest heavily in its software and technology focusing specifically on factors that can shift the dial on behalf of their customers, consistently iterating and improving their offering, ensuring the offering is cutting edge and they will not be a bottleneck for customer growth. Armed with this arsenal of solutions, as well as a collaborative culture, both internally and externally, I believe Soft2bet can be a unique and flexible offering to many major operators in the market, consistently working with their customers to help them achieve their goals and I very much look forward to the challenge.” — Martin Collins, Chief Business Development Officer at Soft2Bet.
“We're happy to welcome Martin to Soft2Bet and looking forward to his vast experience and deep knowledge of our sector getting us to the next level!”
— Uri Poliavich, CEO of Soft2Bet.
Soft2Bet is a B2B casino and sportsbook platform provider, offering a comprehensive product suite of products and services for iGaming operators in regulated markets. A proprietary gamification engine sets Soft2Bet apart, fostering unique player engagement across casino and sportsbook domains.
Soft2Bet has developed and deployed many brands, including recognized names such as Betinia.dk, Betinia.se, Betinia.com Yoyocasino.se, Yoyocasino.com, and holds Maltese, Swedish (B2C and B2B), Danish, Irish, Greek, and Romanian licenses.
Soft2Bet boasts 500,000 events and over 8,500 games from 120 providers, supports 150 payment methods across various countries, and accommodates over 20 languages, among other capabilities.
Join us in Malta between the 13 - 17 November for SiGMA Europe 2023SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.
In the words of SiGMA Group founder Eman Pulis, “We’re redesigning your entire experience, from the minute you land in Malta until the very last moment. I look forward to welcoming you with open arms to this iGaming festival.”
Find all the details here.
The League of Legends European Championship (LEC) has introduced a set of financial rules known as the Sporting Financial Regulations (SFR). The reason behind the move is to promote the long-term financial stability and competitive balance of EMEA's tier-one League of Legends tournament. The aim of the LEC SFR is to encourage teams to keep the total of their top five player salaries below a predetermined threshold, with those who do so having to pay an additional fee (SFR Fee). The rules will come into effect at the start of the 2024 League of Legends esports season.
The SFR Threshold is calculated based on several considerations, including LEC player salaries, League Revenue Pool of the current and forecasted years, team financial data – such as revenue and expenses – and other market indicators. Teams that exceed the SFR Threshold will be imposed with an SFR Fee. An exception will be made to teams if a player enters a contract with the team either during or before the end of the 2023 LEC Season Finals.
Financial sustainabilityIn the statement announcing the new rules, Maximilian Peter Schmidt, Director of League of Legends Esports, EMEA said, “In the current economic climate, we are dedicated more than ever to creating a sustainable future for our players, teams, and the LoL Esports ecosystem in EMEA as a whole.”
“The LEC SFR, which will come into effect from the beginning of the 2024 Season, is one way in which we’re continuing to work towards our goal of long-term financial sustainability. By doing this, we aim to encourage teams to operate more sustainable businesses to provide job security for players and ensure we serve our fans for decades to come.”
The rules will be welcome news, as salary inflation in esports can dramatically interfere with team progress. Esports teams concur that the best players are necessary for team success. Since esports salaries are determined by an open market system (no unionization in esports leagues means there are no collective bargaining agreements capping what teams can spend), a team's owner is the only factor that sets spending restrictions. Rich teams spend a lot to get the players they desire, which has caused salary instability because of raised player expectations.
The 2024 LEC Season Finals will be held in Munich, Germany. According to Esports Charts, the LEC Finals 2023 drew a peak viewership of 654,942, with an impressive average of 244547 viewers. Total hours watched was 8,762,907 over just under 36 hours of airtime.
Join us in Malta between the 13 - 17 November for SiGMA Europe 2023SiGMA Europe’s Malta Week festival brings together a diverse and international group of industry leaders for a convergence of expo, conference, and networking. The event will be held at the Mediterranean Maritime Hub (MMH), a larger, more dynamic venue that promises a raw, industrial, and unconventional space unlike anything ever used before.
In the words of SiGMA Group founder Eman Pulis, “We’re redesigning your entire experience, from the minute you land in Malta until the very last moment. I look forward to welcoming you with open arms to this iGaming festival.”
Find all the details here.
Thomas Winter, the founder of Golden Nugget Online Gaming (GNOG), has announced his departure from his role as the General Manager of DraftKings North America. Winter, a well-respected figure in the online gaming industry, made this announcement via a heartfelt message on his LinkedIn profile, signaling the end of a significant chapter in his career.
Winter's message conveyed his decision to exchange his professional responsibilities for a sabbatical journey. He highlighted the importance of achieving a work-life balance in this new phase of his life.
GNOG's Remarkable Journey
Thomas Winter originally founded GNOG in 2013, and under his visionary leadership, the company achieved remarkable success. In 2018, GNOG secured its position as the number one online gaming operator in New Jersey, boasting an impressive 18 percent market share. This achievement marked a significant milestone in Winter's career.
One of the most pivotal moments in Winter's career came in December 2020 when he took GNOG public on the Nasdaq, further solidifying the company's presence in the industry.
DraftKings acquisition
The next major development occurred in August 2021 when DraftKings acquired GNOG in a groundbreaking US $1.5 billion transaction. The merger was successfully completed in May 2022, and Winter assumed the role of General Manager of North America for iGaming at DraftKings, indicating his commitment to the industry.
Confidence in the future
In his departure message, Winter expressed profound gratitude towards his colleagues and partners at DraftKings, including founders Jason Robins, Matt Kalish and Paul Liberman, as well as Chief Business Officer Ezra Kucharz and Chief Financial Officer Jason Park. He commended their understanding of the benefits of a multi-brand strategy and their trust in GNOG as the right addition to deliver on it.
While Winter's departure signifies the end of an era, he remains optimistic about the future of both DraftKings and Golden Nugget Online Gaming. He stated, "Although I'll miss the action, I can't wait to see what the amazing DK/GNOG casino team, led by uber-talented Gregory Karamitis and superstar Signe Yama, will deliver to stay atop the US iGaming world for years to come. I'll be rooting for y'all."
Other leadership roles
Before his tenure at Golden Nugget and DraftKings, Thomas Winter spent four years at Betclic Group, where he held various leadership roles. From July 2010 to December 2011, he served as CEO and director at Betclic and Expekt, and prior to that, he played a crucial role as COO at both businesses. As Thomas Winter bids farewell to his professional career for the time being, he expressed uncertainty about his future career steps. He added that his desire was to prioritize spending quality time with his wife and children, travel, and improve his fitness and overall well-being.
DraftKings Inc. (DKNG) is currently trading at $29.44 with a + 1.76 percent change.
Thomas Winter's departure marks the end of an era in the online gaming industry, but his legacy as a visionary leader and entrepreneur is sure to be remembered as the industry continues to evolve.
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STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.
In the competitive world of gamblng, Flutter Entertainment and Playtech have found themselves locked in a heated battle for the acquisition of SKS365, the company that stands as the driving force behind the renowned PlanetWin365 brand. Reports have emerged, shedding light on this exciting auction that is set to determine the future of SKS365, with insiders suggesting a potential price tag ranging from £500 million to £600 million. Adding to the intrigue, Italian gambling heavyweight Lottomatica has also thrown its hat into the ring, expressing a keen interest in acquiring this coveted business.
Battle for SKS365
The clash between Flutter Entertainment and Playtech for the rights to SKS365 represents a significant development in the gambling industry. Both London-listed companies have firmly entered the race, intensifying the competition. The outcome of this contest, however, remains uncertain, leaving industry observers and investors eager for updates as the drama unfolds.
SKS365's rich background
SKS365's roots trace back to Austria, but it has evolved into a powerhouse headquartered in the gaming hub of Malta. This company has gained traction across various segments of the Italian gambling market, with a strong presence in both traditional brick-and-mortar establishments and the expanding online sector. Its crown jewel, PlanetWin365, demonstrates the company's success, boasting around 1,000 betting shops scattered throughout Italy. Moreover, SKS365 has diversified its portfolio by managing its own payment division, PlanetPay365. It also operates news portals such as Calcio.com and PlanetWin365.news.
Auction unfolds
The fate of SKS365 now hangs in the balance, with experts from the global financial services firm Lazard orchestrating the highly anticipated auction. Playtech has officially thrown its hat into the ring, announcing its participation in the process, though it acknowledges the presence of other formidable contenders. Playtech wisely recognises that success in this process is far from guaranteed and whether a transaction for the acquisition of SKS365 will ultimately materialize remains an open question. SiGMA News is keeping an eye out for further updates from SK365.
As the bidding war rages on, Flutter Entertainment has yet to make its stance on the matter known. Both Flutter and Playtech are no strangers to the Italian gambling scene. In August of the previous year, Flutter concluded its acquisition of Italian gambling giant Sisal, fortifying its foothold in the market. Playtech, on the other hand, has been a presence in Italy since 2012, with a wide range of games and ownership of the Italian omni-channel B2C giant Snaitech. With Playtech's current trading position at GBp455.40 (0.75 percent), the stakes are high, and the battle for SKS365 is far from over.
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STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.
Gibraltar-based Mansion Group has taken the decision to permanently shut down its operations, marking the end of an era for the company. This move comes nearly 10 months after the group's exit from the UK market, which had seen a withdrawal from the sportsbook sector that focussed solely on online casinos due to increasing regulatory challenges. However, even this strategic shift could not save Mansion Group from the regulatory hurdles that have ultimately led to its closure.
Withdrawal from UK
The UK was a core market for Mansion Group for many years, with its brands operating in the country since 2006. The company initially made its presence known through a high-profile shirt sponsorship deal with Tottenham Hotspurs from 2006 to 2009. Mansion Group officially relinquished its UK operating licence, bringing its UK online gambling presence to an end. The Gibraltar-based operator decided at that time to withdraw its online casino portfolio, which included Casino.com, MansionCasino.com, and SlotsHeaven.com. This decision followed Mansion's strategic withdrawal of its flagship sportsbook brand, MansionBet, from the UK market in 2022.
Mansion Group then redirected its efforts toward enhancing its online casino offerings in regions like Spain, Ontario and other licensed markets in emerging markets.
Despite exiting the UK market, Mansion Group operated its brands within the licence by Gibraltar's regulatory framework.
Unresolved leadership turmoil
Mansion Group's journey towards closure was not without its share of internal challenges. In February of this year, the former CEO, Karel Mañasco, (in photo above), made headlines when authorities in Gibraltar issued a global asset freeze order against him, amounting to £5 million, at the request of the Mansion Group. Mañasco's suspension in September 2021 following a disciplinary investigation into alleged unauthorized payments had already raised concerns. His resignation in December of the same year, while denying the allegations, left the company in a state of leadership uncertainty.
Reasons for Gibraltar closure are uncertain
The decision to shut down the entire business has left many questions unanswered. With around 200 employees facing unemployment and concerns over the fulfillment of bonus payments, the future remains uncertain for Mansion Group's staff. The company has not yet released any statements to explain the reasons behind its closure. As Mansion Group winds down its operations, it marks the end of an era for a company that has been licensed and headquartered in Gibraltar since 2004.
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STOP PRESS! SiGMA Europe takes place in Malta between 13 to 18 November.
2nd October 2023: B2B gaming supplier Push Gaming has furthered its market share in the Netherlands thanks to a partnership agreement with JOI Gaming brand JACKS.NL.
Push’s most popular slots such as recent hit Razor Returns along with Big Bamboo and Jammin’ Jars are now live on Jacks.nl and will also see upcoming releases Fish ‘n’ Nudge and Boss Bear make their debut with Dutch players.
JOI Gaming is part of the JVH Gaming & Entertainment Group, a leading presence in the Dutch market, and as such offers Push Gaming unrivalled exposure for its portfolio of content in the thriving market.
The agreement is one of several in the Q4 pipeline for the studio, along with a roadmap of slot releases to add to its growing diverse selection of player-focused content.
Fiona Hickey, Director of New Business and Markets at Push Gaming, said: “JOI Gaming's JACKS.NL is a fantastic, award-winning brand for us to go live with being one of the biggest and best in the country. It’s a further sign of our continued growth in the Netherlands, a key territory for us, which is mirroring our strategy in regulated markets globally.
“These are exciting times for Push Gaming, armed with a growing catalogue of incredible slots we’re partnering with tier-one operators in more markets than ever. 2023 is set to finish with a flourish.”
Sjoerd Kranz, Head of Gaming and Retention at JOI Gaming, said: “We proudly unveil Push Gaming's remarkable game portfolio to our players at JACKS.NL. As an award-winning brand and industry leader, we view this as a monumental addition to our gaming portfolio. We firmly believe that these renowned titles will elevate us to new heights, perfectly aligning with our company's visionary strategy.”
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