East Timor emerges as a powerhouse in virtual gaming

This week a major milestone was achieved. The company completed its rebranding to Evoke Plc, marking the commencement of an exciting new chapter. This transformation was approved by an overwhelming majority of shareholders at the Annual General Meeting (AGM), with 99.79 percent voting in favour.

The rebranding initiative aims to unify all employees under a single identity, thereby adopting a sense of unity and shared purpose. This move is expected to work in tandem with the , which in turn will have a positive impact on business growth.

Evoke Plc joins the ranks of its UK high-street competitors, Flutter Entertainment and Entain, who underwent similar rebranding exercises in 2019 and 2020 respectively. Despite the corporate rebranding, all consumer-facing brands, including William Hill, 888casino, 888sport, 888poker, and Mr Green, will retain their original names.

CEO Per Widerström expressed his optimism about the future, stating that the rebranding reflects the company’s forward-thinking approach and commitment to delivering world-class betting and gaming experiences to customers globally. He expressed confidence in the company’s strategic framework and value creation plan, asserting that these would help solidify Evoke’s position in the global betting and gaming industry.

In March FY23, Evoke announced a strategic reset, termed the Value Creation Plan. This plan was necessitated by regulatory and compliance changes in key markets, which fundamentally altered the business mix. The company has faced several challenges in recent years, including the resignation of CEO Itai Pazner in January 2023 due to a compliance scandal in the Middle East. Additionally, the company’s license was placed under review by the UK Gambling Commission following a plot by investor FS Gaming to install former GVC chief executive Kenny Alexander as CEO.

At the recent AGM, two special resolutions recommended by the board of directors failed to secure the requisite 75 percent shareholder approval. These resolutions were aimed at renewing the directors’ authority to allot equity securities for cash without first offering them to existing shareholders, and to do so in relation to an acquisition or capital investment. The board has expressed its intention to engage with shareholders and advisory bodies to ensure their feedback continues to inform the company’s governance approach.

There have been no other newsworthy developments relating to 888 or Evoke this week. However, the company’s share price tumbled earlier this year following the resignation of Itai Pazner amid a money-laundering probe. The company also launched an equity raise to fund its takeover of William Hill’s non-US operations.

As Evoke Plc embarks on this new journey, it remains to be seen how these changes will shape the company’s future and its position in the global betting and gaming industry.

The House of Representatives in the Netherlands plans to introduce a ban on all sorts of online advertising for local gambling operators as . A motion pushed by Michiel van Nispen, member of the House of Representatives for the Socialist Party (SP), has received enough support. A second motion for a total ban on online slot games at Dutch online casinos also passed with a tight majority of 77 votes.

The motions were part of a total of 114 motions out of which 14 were related to the field of online gambling. Since the legalisation of iGaming in the Netherlands in October 2021, gambling ads have faced ongoing pressure. A ban on gambling ads on TV, radio, and outdoor media was previously adopted in July 2023. This ban excluded online ads although strict rules have been put in place for affiliate companies and influencers imposing a minimum age of 24 years for their target audience.

The adopted motions from Van Nispen follow after comparable motions by in February. Boswijk called for a complete ban on gambling ads but did not receive enough support. With an additional ban on gambling related ads on the internet this would theoretically lead to the same outcome as Boswijk’s proposal as all other media channels have already been banned from gambling ads.

“Every day that gambling companies keep on offering their products in the Netherlands, mistakes will be made by consumers, with more and more people becoming addicted to gambling. I consider this new ban on online gambling ads as yet another step forward towards a country without online gambling companies.”
Michiel van Nispen, Socialist Party (SP) in the Netherlands.

Van Nispen also introduced a second motion calling for a ban of “very high risk casino games”, particularly referring to the risk of online slot games. Online slots are considered as very high risk casino games by the MP as they “don’t provide any control over the outcome of a round making players prone to continuous play and loss chasing behaviour”.

With 79 votes, the motion seeking to ban slots in the gambling lobbies of Dutch online casinos was also won by Van Nispen. Slot games represent the most sought after online gaming product among Dutch gamblers followed by sports betting.

Param Labs, a gaming infrastructure startup based in the United Arab Emirates, has recently secured a strategic investment from Animoca Brands, a Hong Kong-based pioneer in digital property rights for gaming and the open metaverse. This investment not only strengthens their existing partnership but also fuels the development of Param Labs’ scalable , thereby expanding its ecosystem.

Param Labs is at the forefront of developing video games and infrastructure to power the next generation of gaming. Their flagship Web3 multiplayer third-person shooter game, Kiraverse, offers players a unique opportunity to compete, earn, and trade digital assets like characters and skins. This game is designed to promote digital ownership and user-generated value, leveraging Param Labs’ innovative technology.

In addition to game development, Param Labs is actively constructing technology to equip developers with the necessary tools they need to elevate their users’ blockchain-based experiences. This ensures seamless interaction for gamers across the globe, thereby impacting gaming technology and infrastructure significantly.

One of their innovative services, Pixel-to-Poly, enables users to transform 2D images into 3D playable in-game characters. These characters are compatible with Kiraverse as well as popular Web2 titles including Grand Theft Auto V and Fortnite.

Param Labs is also making strides in the esports arena. They have partnered with major esports organisations worldwide to promote Web3 ecosystem growth around gaming. They are also preparing for a token launch that will serve as an ecosystem token for its upcoming games and infrastructure.

This strategic investment and partnership with Animoca Brands marks a significant milestone for Param Labs’ ecosystem development and the broader

The investment in Param Labs further expands the presence of Animoca Brands in the Middle East and North Africa (MENA), following a partnership with NEOM to drive Web3 in the region, and with King Abdulaziz City for Science and Technology to establish a physical office and Web3 hub in Riyadh.

Both Param Labs and Animoca Brands are leveraging artificial intelligence and blockchain technologies to advance the rapidly growing gaming industry, thereby helping to establish the open metaverse. This partnership is set to redefine the gaming landscape and bring about a new era in the world of gaming.

Andrew Rhodes, Chief Executive of the UK Gambling Commission (UKGC) confirmed that the third White Paper consultation will focus entirely on the land-based gaming sector.

Speaking at the Bingo Association Annual General Meeting (AGM) 2024, Rhodes provided insights into the . Rhodes addressed the audience, highlighting the importance of collaboration and data-driven decision-making in the gambling sector.

Rhodes began by expressing his enthusiasm to update the attendees on the Commission's work since the previous AGM, emphasising the ongoing efforts to implement the White Paper effectively. He underscored the role of the Government's policy in shaping the future of gambling across England, Scotland, and Wales, emphasising the need to prioritise its successful implementation for the benefit of all involved.

"The White Paper and the Government policy it contained was a signal moment for gambling in Great Britain
and a once in a generation opportunity to deliver positive change."

Rhodes also shed light on the Commission's commitment to enhancing the evidence base around gambling, citing the importance of accurate data for effective regulation. He highlighted the following priority areas where the GC wants to see more research being conducted, namely:

• early gambling experiences and gateway products
• the range and variability of gambling experiences
• gambling-related harms and vulnerability
• the impact of operator practices
• product characteristics and risk
• illegal gambling and crime.

Rhodes also mentioned ongoing stakeholder engagement initiatives and collaborations with the Department for Culture, Media and Sport (DCMS) to ensure a coordinated approach to implementing regulatory changes.

During his , Rhodes discussed the various consultations conducted by the Commission, including topics such as Financial Risk Checks and regulatory returns. He highlighted upcoming changes, such as the tightening of age verification processes and the introduction of new rules affecting land-based licensees. These adjustments, outlined in the Licence Conditions and Codes of Practice (LCCP), are set to be implemented in stages from August 2024 to February 2025.