Aristocrat Leisure Limited, early on Friday morning, announced the successful completion of its acquisition of NeoGames S.A., a gaming platform provider based in Luxembourg. This was made possible after all closing conditions and requirements were met.

The acquisition, which was “overwhelmingly supported” by NeoGames shareholders during a meeting, has allowed Aristocrat to broaden its Real Money Gaming (RMG) offerings.materially advances Aristocrat’s ‘build and buy’ strategy,” enabling the group to compete in attractive online RMG verticals globally.

Furthermore, the acquisition will allow , customer relationships, and expanding capabilities across an even broader range of channels and geographies. This will add to the group’s resilience and accelerate future growth.

Aristocrat also announced that it would merge its existing Anaxi segment with NeoGames to form a new integrated global business, which will operate under the name Aristocrat Interactive.

Moti Malul, the CEO of NeoGames, has been appointed as the CEO of Aristocrat Interactive and will join Aristocrat’s executive leadership team, reporting to Aristocrat CEO Trevor Croker.

Croker expressed his excitement about welcoming NeoGames to Aristocrat, stating, “The acquisition of NeoGames and its leading global online RMG platform adds to our increasing organic capabilities and will ensure that we deliver on our strategy by providing a portfolio of end-to-end solutions for iGaming, iLottery, and OSB operators globally.”

He further added, “With our ambition to be the leading gaming platform for the regulated online RMG industry, the addition of NeoGames to our team advances our strategy to build global scale and capability.”

Aristocrat Leisure Limited’s acquisition of NeoGames marks a significant shift in the gaming industry. This strategic move expands Aristocrat’s online Real Money Gaming (RMG) reach, diversifies its revenue streams away from traditional land-based operations, and offers enhanced gaming experiences. The addition of NeoGames bolsters Aristocrat’s global scale and capability in the regulated online RMG industry. The integration of Anaxi and NeoGames under the new Aristocrat Interactive banner signifies a unified global business, ready to make waves in the industry.

Adam Cole, the co-founder of the now-defunct Football Index, is back in the spotlight with a new venture, KiX, a footballer trading platform bearing striking resemblances to its predecessor. The collapse of Football Index in 2021 led to users losing an estimated £90 million in virtual averaging losses of about £3,000 per customer, with many losing significantly more.

Cole, (pictured above), who served as the former CEO of Football Index, co-founded the company with Mike Bohan. Despite his silence on social media since a May 2021 statement expressing his devastation over the company’s downfall, Cole has resurfaced as an investor and advisor to KiX. This has been met with disappointment from the victims of Football Index, with campaigner David Hammel describing it as a “real kick in the teeth.”

KiX, like Football Index, allows users to trade in footballers, earning rewards based on their performance. However, KiX operates on a different model and structure, trading footballers in the form of non-fungible tokens (NFTs) and using cryptocurrency. While some see this as an exciting and innovative use of technology, others view it as a risky vehicle for financial speculation.

The KiX platform acknowledges the similarities with Football Index but insists it is a completely new platform. Despite Cole’s involvement, a KiX spokesman confirmed that he does not have executive input at the operational or board level. The spokesman also clarified that Cole is not an employee or a shareholder and draws no salary from KiX.

The story of Football Index and KiX serves as a cautionary tale in the world of virtual trading platforms. As the saga continues to unfold, the victims of Football Index are left to grapple with the consequences of their lost investments, while the world watches to see if KiX will follow in its predecessor’s footsteps or chart a new path in the world of football trading.

The downfall of Football Index, a once-promising virtual trading platform, was a complex event triggered by a series of missteps and oversights. BetIndex, the company behind Football Index, misrepresented the nature of their product in their , and failed to report necessary changes to their product. This lack of transparency was compounded by the Gambling Commission’s own lack of regulatory oversight, which failed to scrutinize BetIndex’s product and language thoroughly.

Financial mismanagement played a significant role in the platform’s collapse. Just days before its downfall, Football Index was found to be “minting” and selling new “shares”, a move that raised serious questions about the company’s financial practices. The Financial Conduct Authority (FCA), too, came under fire for its handling of the case. Criticized for its slow response to requests from the Gambling Commission and inconsistency in messaging on regulatory responsibilities, the FCA’s failure further contributed to the platform’s demise.

At its core, Football Index was a high-risk trading platform, allowing users to trade in derivatives that led to significant financial losses. The platform’s collapse in 2021 resulted in users losing an estimated £90 million in virtual footballer shares. The aftermath of this catastrophic event continues to reverberate, with many former users still feeling the trauma of their lost investments and the impact it has left on their lives.

After nearly three years of rigorous remediation, by the NSW Independent Casino Commission (NICC). The Chief Commissioner, Philip Crawford, acknowledged Crown’s significant progress and emphasized the need for its sustained commitment to maintaining suitability.

Crown Sydney has undergone a fundamental transformation in its business operations. The NICC’s assessment confirmed that the casino is operating within the parameters of the Act, the suitability deed, and its regulatory obligations. This marks a significant milestone in Crown’s journey, demonstrating its ability to run the casino lawfully.

Beyond legal compliance, Crown has made meaningful strides in other areas of its business. It has fostered a culture of transparency and accountability across its integrated resort, a crucial step in its remediation process.

Despite these positive changes, the NICC remains mindful of the misconduct exposed in 2021 when Crown was deemed unsuitable. Crawford stressed that to do to reach a steady state. The casino must continue to elevate its standards and sustain its cultural transformation.

The NICC itself has evolved as a regulator, now possessing enhanced powers, a singular focus on casinos, and a mandate to mitigate harm. This decision is a testament to Crown’s transformation and a positive outcome for its staff, the community, and Crown Sydney itself.

Crown Sydney has implemented hundreds of new internal controls as part of its reforms, reflecting the Bergin-based recommendations. These reforms have culminated in a new licence and a new regulatory agreement between Crown Sydney, the NSW Government, and the NICC.

The updated agreements include revised settings, such as the removal of restrictions on the NICC’s powers and the elimination of previous compensation trigger clauses from the casino legislation.

Crawford reminded Crown of the responsibility and privilege that accompany a casino licence. Crown Sydney’s future as a destination hospitality and entertainment venue, underpinned by the restricted gaming facility, hinges on its unwavering commitment to continuing suitability, accountability, and compliance.

Kambi, in Q1 2024, reported a revenue of €43.2 million, a slight 2 percent decrease compared to the same period in the previous year. The majority of this revenue, approximately 90 percent, was generated from sportsbook operations, with the remaining portion attributed to modularised odds feeds.

Despite the slight dip in revenue, Kambi’s EBITDA increased by 10 percent year-on-year, reaching €14 million. The operating profit for the quarter was €4.4 million, a 2 percent decrease from the previous year, with a margin of 10.2 percent. The earnings per share for the quarter were €0.107, and the board proposed no dividend payout.

Kambi’s operator turnover index, a measure of its clients’ quarterly turnover, decreased by 16.3 percent compared to Q1 2023. This was primarily due to the migration of Penn’s online business in July 2023. However, excluding Penn’s online contribution in Q1 2023, turnover increased by 3 percent across the global network and by 9 percent in the Americas. The operator trading margin in Q1 was 9 percent, driven by favourable basketball results, compared to 8.2 percent in the same period last year.

In Q1, Kambi extended its retail sportsbook partnership with Penn until 31 December 2025, replacing the previous agreement set to end in July 2024. Kambi also partnered with Inspired Entertainment, a provider of virtual sports products, to integrate the company’s offering into its sportsbook platform. This is in line with and deliver for partners through third-party services.

Kambi CEO Kristian Nylén, (pictured above) who announced his intention to step down once a successor is appointed, expressed satisfaction with the Q1 results. He highlighted the successful launch of LiveScore Group’s Kambi-powered sportsbook in Nigeria and the Netherlands. Looking ahead, Nylén anticipates further launches, particularly in the UK, in preparation for upcoming sporting events like Euro 2024 and Copa América.

Nylén mentioned that Kambi has made good progress in opening up its platform to provide greater flexibility and choice for partners. An initial step in this process was integrating external content into the Kambi platform to meet product requirements for certain partner signings in 2023. In Q1, Kambi added Inspired Entertainment’s virtual sports games to the platform, creating an additional revenue stream. More recently, the firm integrated racing provider BetMakers, enhancing Kambi’s horse and greyhound racing products.

As part of the ongoing modularisation strategy,n Tzeract’s first commercial agreement with operator kwiff. This will enable Kambi to provide modular odds feeds via a single API integration, granting operators access to Kambi’s full library of sports odds.

Although Nylén suggested Kambi had “built solid foundations for the future”, the company expects 2024 to be a “transitional year.” The supplier said revenue will be impacted by Penn’s online migration, recently renewed contracts with Kindred and several other partners. Kambi is also reviewing its 2027 financial targets due to a slowdown in sports betting regulation. Despite these challenges, Kambi remains optimistic about its future prospects.