The future of crypto after Biden’s win

During the afternoon of 16 April, the Netherlands’ House of Representatives made a significant decision that would reshape The representatives voted in favour of and “high-risk” online gambling, which includes slots. This move signalled a majority consensus for prohibiting all forms of targeted advertising and high-risk games such as slots.

The motions were proposed by Socialist party MP Michiel van Nispen and managed to garner just enough support to pass. The House of Representatives also approved motions for mandatory financial risk checks related to gambling and identification requirements. In total, the house voted on 114 motions during several debates held the previous week. Out of these, ten were adopted, including the ban on all online advertising and games of chance with a demonstrably high risk.

Previously, a motion for a total ban on gambling advertising proposed by MP Derk Boswijk, (pictured above), in February 2024 did not receive sufficient votes. However, a similar motion put forward by Michiel van Nispen this week managed to pass with a slim majority of 77 votes. This new ban is understood to prohibit all forms of online advertising, including targeted ads.

This decision follows the Netherlands’ untargeted advertising ban that came into effect on 1 July, 2023. As a result, mass advertising on radio, television, outdoor locations, and written media were prohibited. Sports sponsorships were also included in the ban, with a transitionary period currently in place for existing sponsorship agreements.

Another motion adopted by Van Nispen focused on online gambling with a demonstrably very high risk. The Socialist party believes that a case should be made for banning games of chance, with online slots used as the principal example. This is because players have no control over the outcome of the game. A majority of 79 MPs voted in favor of the motion.

Despite the majority support for such a ban in the House of Representatives, it will be another case to have this enshrined in law. The responsibility now falls on Franc Weerwind, the Minister for Legal Protection in the Netherlands, to review and approve the law.

Weerwind has been a strong advocate for responsible gambling but has never explicitly expressed a desire for stricter measures. In December 2023, he announced new measures to protect players, including requiring providers to contact players who have set a deposit limit of €350. Operators are also mandated to inform such players of the risks of gambling in high amounts.

Weerwind’s other proposals involve exhibiting financial amounts in euros and pushing for further research on overarching gaming limits. In October 2023, he also announced a multi-year digital resilience campaign program to combat fraud associated with online gambling.

Weerwind stated in a letter that everyone who wants to should be able to play a game of chance responsibly. However, he also acknowledged that responsible gaming can turn into problematic gambling and that players must be aware of this and be protected against it. He noted that research shows that providers encourage players to bet more money than they can afford to lose, indicating a need for more robust protective measures in the industry.

Entain Plc (LSE: ENT), has released its trading report for Q1 2024, revealing key insights into its performance and future growth strategies.

The report highlights that in improving the operational performance of the business, driving organic revenue growth. The total Group Net Gaming Revenue (NGR), including a 50 percent share of BetMGM, was up by 6 percent, and down by 3 percent on a proforma basis. This performance aligns with the company’s expectations.

In the UK and Ireland, NGR was down by 7 percent (Online -9 percent, Retail -6 percent) due to the ongoing effects of regulatory implementation. However, the company’s actions that are driving operational improvements, coupled with the levelling of the UK regulatory landscape, are expected to position its brands well for growth into 2025.

Internationally, NGR was up by 8%, and down by 2% on a proforma basis (Online -1 percent, Retail -8 percent). Despite expected softness in Australia, Netherlands, and Germany, there was a positive performance across many markets. Particularly encouraging was the return to good year-on-year growth in Brazil, driven by ongoing operational improvements initiated in 2023. However, despite strong volume growth, NGR in Italy was impacted by customer-friendly sports margins.

Entain’s Central and Eastern Europe (CEE) operations continued to perform well, with NGR up by 11 percent (Online +11 percent, Retail +9 percent) on a proforma basis. SuperSport in Croatia performed particularly strongly.

BetMGM delivered Q1 NGR up by 2 percent year-on-year, with a 14 percent market share in sports betting and iGaming in the markets where it operates. The continuing iGaming strength was offset by customer-friendly win margins across online and retail sportsbooks. Adjusting for the impact of sports margin, estimated Q1 NGR would have been high single-digit positive. BetMGM saw strong growth in customer acquisition, supported by successful Super Bowl and March Madness engagement and improving app and product capabilities. With an enhanced player experience and an exciting pipeline ahead, including more Angstrom-powered offerings, BetMGM is well-positioned to invest for future growth.

Stella David, Interim CEO of Entain, commented on the Q1 performance, expressing satisfaction with the progress being made against the company’s plan to accelerate . She highlighted the strong performances in many markets and the known challenges in others. She also noted the level of customer engagement in the US following a successful Super Bowl and March Madness, as well as the return to growth in Brazil following the changes implemented.

David emphasized that while there is still more to do, the team is fully engaged in delivering operational improvements, product enhancements, as well as greater organisational agility and efficiency. She expressed confidence in the company’s strategic priorities of organic revenue growth, margin expansion, and winning in the U.S., and believes that their continued focused execution will drive organic growth into 2025 and beyond. This detailed analysis of Entain’s Q1 2024 performance provides valuable insights into the company’s strategies and future prospects in the global sports betting and gaming industry.

In the first three weeks since , residents wagered over $659 million, according to a report released by the North Carolina State Lottery Commission (NCSLC). This report, which compiles the sports wagering activity for March, provides a fascinating insight into the impact of legalized sports betting on the state’s economy and society.

From March 11 to March 31, North Carolinians wagered $659,308,541 on sports events, including paid and promotional wagering revenue. From these wagers, they won $590,750,303. The gross wagering revenue for March, which is the less the amounts paid as winnings before any deductions for expenses, fees, or taxes, was $66,496,213. State law imposes an 18 percent tax on the gross wagering revenue generated by sports wagering activity.

The tax proceeds from gross sports wagering revenue are allocated according to the law as follows:

• $2 million annually to the North Carolina Department of Health and Human Services (NCDHHS) for gambling addiction, education, and treatment programs.
• $1 million annually to North Carolina Amateur Sports to expand opportunities in youth sports.
• Up to $300,000 annually to collegiate athletic departments at 13 state universities.
• $1 million annually to the North Carolina Youth Outdoor Engagement Commission for grants to help cover the cost of travel to in-state or out-of-state sporting events and to attract amateur state, regional, area, and national sporting events, tournaments, and programmes.
• Certain reimbursements to the NCSLC and the NC Department of Revenue (NCDOR) for expenses incurred to implement and administer the new law.

Any remaining proceeds are distributed as follows:

• 20 percent evenly among the 13 state universities to support collegiate athletic departments.
• 30 percent to a new North Carolina Major Events, Games, and Attractions Fund to foster job creation and investment in the state.
• 50 percent to the state’s General Fund.

The legalization of sports betting in North Carolina has also necessitated the creation of new rules and regulations to govern the industry. The deadline to comment on the rule-making process for the third set of wagering rules is Friday, 19 April. These rules include changes such as the elimination of the use of “Wagering Lounge” for “Wagering Facility,” the introduction of international criminal history record checks triggered by residency, and the clarification of the treatment of seized winnings from voluntarily excluded players.

The process also contains two new proposed rules. The first proposal sets a deadline for licensees to respond to a formal letter of inquiry from the commission, which will likely be used in investigations where there are specific questions and possible requests for documents from licensees. The second proposed rule addresses the inspection of wagering facilities, both pre-operational and subsequent inspections.

The legalization of sports betting in North Carolina represents a significant shift in the state’s approach to gambling. The rapid growth in wagering activity, the substantial tax revenue generated, and the societal impacts of this change are all areas that warrant further analysis and discussion. As the state continues to navigate this new landscape, it will be interesting to see how these developments shape the future of sports betting in North Carolina.

Monaco, the world’s second-smallest country and the richest microstate, is known for its glamour, wealth, and the iconic Monte Carlo Casino. On the other side of the world, Macau, a special administrative region of China, has earned the title of the “Las Vegas of Asia,” boasting the world’s largest casino, operated by

In a strategic move to attract Asian investors, Frederic Genta, Monaco’s Secretary for Attractiveness, Development, and Digital Transformation, (pictured above), u Genta’s mission was clear: to leverage the close relationship between Monaco and Galaxy Entertainment Group to pitch to investors in the Greater Bay Area, which spans Macau, Hong Kong, and nine cities in China’s Guangdong province.

In 2015, Galaxy paid a modest €42.4 million for a 5 percent stake in Societe des Bains de Mer (SBM), a Monaco government-controlled company that owns the Monte Carlo Casino. This investment marked the beginning of a fruitful partnership, with Galaxy and SBM collaborating on various ventures, from exploring new casino opportunities across Asia to co-sponsoring cultural exchanges between Monaco and China.

Genta’s visit to Macau was not just about courting big businesses. He also aimed to attract the ultra-wealthy whose riches are managed through so-called family offices. After spending two days in Macau, Genta crossed the Pearl River Delta for a similar round of meetings in Hong Kong, organized by Galaxy.

Monaco’s relationship with China is noteworthy. Despite geopolitical tensions, Monaco, which is not a member of the European Union, maintains better relations with China than some of its neighbours. In 2019, it became the first European country to roll out a 5G phone network using technology supplied by Huawei, a company that the U.S. and some of its allies have shunned on security grounds.

The partnership between Galaxy and SBM is seen as a major asset as Galaxy explores new markets. Casino operators in Macau and those seeking entry to places such as Japan, Thailand, and the Persian Gulf are under increasing pressure from governments to reduce their dependence on gambling revenue. Instead, they are expected to transform their businesses into “integrated resorts” offering more non-gambling attractions.

SBM, despite holding a monopoly in one of the world’s most famous gambling hubs, last year earned 68 percent of its revenue from non-gaming activities, mostly from luxury hotels. Monaco also hosts a legendary annual Formula One race and the regular Monte Carlo Tennis Masters tournament, attracting some of the world’s best players.

The collaboration between Monaco and Macau is a testament to the potential of strategic partnerships in the global casino industry. As Galaxy’s representative on the SBM board, Troy Hickox, aptly described Monaco, it is “essentially the world’s first iteration of the luxury integrated resort.” This partnership is a high-stakes bet that could redefine the future of the global casino industry.