Hilton new Ras al Khaimah project seals Al Marjan Island as top spot in UAE gaming hub

In times where digital platforms have become the new marketplace, against the promotion of offshore online betting and gambling platforms by influencers. This move comes in response to the growing concerns over the adverse impacts of online gambling, particularly on the youth.

The Ministry’s advisory is a clear message to social media influencers who have a significant impact on their followers’ behaviours and choices. The advisory warns them against promoting or advertising offshore online betting and gambling platforms. The ministry has highlighted the significant financial and socioeconomic implications of online betting, emphasizing the potential harm it can cause, especially to the younger generation.

The advisory also extends to online advertisement intermediaries, urging them not to target Indian audiences with promotional content related to gambling. In addition, social media intermediaries have been called upon to conduct sensitisation efforts among users, discouraging them from publishing such content.

Non-compliance with the advisory could lead to stringent actions under the provisions of the Consumer Protection Act, 2019. This includes the removal or disabling of social media posts or accounts, along with penal action under applicable statutes.

The advisory draws attention to section 79 of the IT Act, 2000, which exempts intermediaries from liability for third-party information. However, it underscores that this exemption does not apply if intermediaries fail to expeditiously remove or disable access to unlawful material on receiving actual knowledge or notification from the appropriate government or its agency.

Furthermore, the Ministry reiterated the concerns expressed by the Central Consumer Protection Authority (CCPA) regarding endorsements of betting/gambling platforms by celebrities and influencers. The CCPA had previously cautioned against any direct or indirect advertisement or endorsement of such activities, subjecting them to rigorous scrutiny.

This move by the ministry is a significant step It focuses on responsibility that influencers and intermediaries hold in shaping the digital landscape and the need for them to exercise their influence responsibly. The fight against online gambling is far from over, but with measures like these, we are moving in the right direction.

has announced its decision to divest its B2C Italian brand, Newgioco This strategic move was disclosed in an SEC filing dated 30 April, revealing that the parent company of Newgioco, Multigioco Srl, is set to be acquired by an undisclosed buyer.

The completion of this transaction is contingent upon obtaining regulatory approvals from the Agenzia delle Doganee dei Monopoli (ADM), and clearance from the Italian antitrust competition agency, Autorità Garante della Concorrenzae del Mercato. Once these conditions are met and the sale is approved by an Italian notary, Elys will detail the sale in a future 8-K SEC filing¹.

Newgioco, although not a dominant player in the Italian gaming market, has been operating since 2015 when it first received trademark approval from the Italian authorities. The brand is part of Elys BMG Group’s journey, which saw a rebranding from Newgioco Group to Elys Game Technology in 2020 to better penetrate the burgeoning US sports betting market.

In January 2024, the company underwent another rebranding to become Elys BMG Group. However, in October 2023, Elys was de-listed from the Nasdaq stock exchange due to its share price falling below the $1.00 minimum required by listing rules. Despite this setback, Elys announced its entry into the US B2C space through its newly created SportsBet.com brand in the same month.

Elys’ strategic divestment of Newgioco marks a new chapter in its corporate narrative, reflecting its focus on expanding its footprint in the lucrative US market. This move follows Elys’ market access deal with Caesars in November, which paved the way for the brand to launch in Colorado, its first state.

Elys BMG Group, originally incorporated in 1998, has a rich history in the gaming industry. The company was formerly known as Elys Game Technology, Corp. and changed its name to Elys BMG Group, Inc. in January 2024. The company is based in Toronto, Canada, with its headquarters in Las Vegas, NV.

Elys BMG Group offers a full suite of gaming products and services to clients in Italy, where it processes nearly $1-billion in handle, producing annual revenue of roughly $50 million. The company is developing a rapidly-growing footprint in the U.S., with operations in five states already and new jurisdictions expected, as more states authorize wagering.

The company’s stock price history shows a journey of ups and downs. The latest closing stock price for Elys BMG as of October 2023, was $0.41. Despite being de-listed from the Nasdaq stock exchange in October 2023, the company continues to innovate and expand, particularly in the U.S. market.

Delta Corp, a prominent player in India's gaming industry, faced a 3 percent year-on-year decline in gross income from operations for the quarter ending on March 31, 2024. The  reported a gross income of Rs 222.75 crores (€24.8 million), attributed to decreases in both its casino and online skill gaming segments.   

Income from gaming operations witnessed a decline to Rs 174.07 crores (€19.35 million) in the March quarter, compared to Rs 181.54 crores (€20.1 million) in the previous quarter and Rs 175.61 crores (€19.53 million) in the corresponding period last year. Similarly, income from online skill games fell by 10.4 percent to Rs 35.08 crores (€3.9 million) compared to the previous quarter.  

Despite the decline in gross income,  reported a remarkable 110% sequential increase in profit for the quarter, reaching Rs 72.41 crores (€8 million). This increase was attributed to the sale of a subsidiary, contributing to the company's financial performance during the period.  

For the full fiscal year ending on March 31, 2024, Delta Corp experienced a 2.5 percent year-on-year decline in gross income, amounting to Rs 1,010.48 crores (€112.5 million). Both gaming operations and online skill games reported declines of 1.5 percent and 9.5 percent, respectively.  

Delta Corp addressed ongoing legal challenges, including notices sent to three of its subsidiaries demanding back payment of GST. The company, along with other impacted entities, has elevated writ petitions opposing these demands to the Supreme Court. Delta Corp asserts that these demands are arbitrary and contrary to legal provisions, emphasizing industry-wide concerns regarding taxation on gaming revenue.   

The company reiterated its stance on the tax demands, emphasizing that they are arbitrary and not in alignment with legal provisions. Delta Corp has initiated necessary legal proceedings to challenge these demands, underscoring its commitment to defending its position within the legal framework. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .  

GLOBE Telecom, a Philippine telecommunications company, disclosed in a statement an escalation in its efforts to . The company reported a substantial increase in the number of malicious sites it blocked during the first quarter of 2024. 

Globe's Chief Information Officer, Anton Reynaldo Bonifacio, emphasised the critical importance of these actions, stating, “Illegal online gambling can have devastating financial and social consequences, fuelling problematic gambling behaviour and exposing users to potential fraud, malware and cybercrime.” 

To fortify its defence mechanisms, Globe said that it invested a considerable sum of $2.7 million (€2.51 million) to bolster its content filtering infrastructure system. This upgraded system is designed to swiftly detect and restrict malicious content, including piracy. 

Globe said it has taken proactive measures to mitigate the proliferation of illegal gambling sites. By implementing network-blocking measures and content filtering systems, the company aims to safeguard its users from potential threats. 

The telco company said that it filtered a total of 1,345 domain names involved in illegal online gambling sites, marking a significant increase from 126 sites in the same period in 2023r. 

The government has issued regarding the risks associated with online gambling sites, particularly in light of the increasing incidents of fraud and cyberattacks. Globe's actions align with the broader efforts to uphold cybersecurity standards and protect users from potential harm. 

Bonifacio reaffirmed the company's dedication to ensuring a safer online environment, stating, “We have an ethical obligation to make the internet safer and are continuing our relentless push to identify and prevent access to these unlawful sites on our network.” 

Following these announcements, market sentiments towards Globe Telecom remained positive. By adopting proactive measures and investing in robust infrastructure, Globe Telecom demonstrated its commitment to combating online threats and prioritizing user safety in the digital landscape. 

Upcoming SiGMA event: SiGMA Asia 2024, 2 – 5 June. Find all the details .