Month: May 2021

Administrators will try to determine the cut-off date from which customers’ cash balances will be repaid; either 11 March when the platform was suspended, 26 March when operator BetIndex officially went into administration or a later date than this.

The cut-off date is crucial for determining how much money would be owed to customers, and to which customers, as a later date would favour players whose bets are still active as they would be entitled to more funds through dividends: a form of winnings on the Football Index platform.

£4.5m currently stands in the company’s player protection account, but with £3.2m already owed for money held in player accounts, the business would soon run out of funds if a cut-off isn’t set for dividends. It would be liable to pay a further £550,000 weekly at the current rate, which would put the company’s account in default by 22 April.

While the administrators will make the cases for both 11 March and 26 March, H&J Director Services 1 Limited has been appointed to represent those calling for a later date, which would be customers waiting for a large amount of dividends to be paid out.

The Football Index case was raised to the High Court earlier this month, after BetIndex put in motion plans to pay back back customers.

After entering administration, Football Index was forced to cut short shirt sponsorships with football clubs Queens Park Rangers and Nottingham Forest.

While the Gambling Commission defended its decision not to revoke BetIndex’s license earlier, the government has since announced an inquiry into the platform’s collapse.

Bragg’s revenue shot up to €14.1m (£12.1m/USD$17.0m/CAD$20.6m), a rise from €8.7m in revenue in the first quarter of 2020. Adjusted earnings before interest, tax, depreciation and amortisation EBITDA for the quarter came to €2.3m, a 233.6% increase year on year.

Net loss for the period totaled at €1.1m, a €4.6m decrease from Q1 2020. Bragg contributed this decline in losses to its Oryx acquisition earn-out payments in January 2020, as it no longer had to make these payments in Q1 2021.

In November 2020, Bragg announced the details of its final earn-out payment, which amounted to €22m.

In terms of operations, customer wagering revenue generated by Bragg’s operator customers came to €3.5bn this quarter, up 52.1% year on year. The number of unique players also rose from 1.6 million in Q1 2020 to 2.4 million this quarter.

Gross profit also rose 68% to €6.6m, an increase Bragg contributed to a move from games to igaming and platform solutions.

“We continue to invest in our employees, our technology and our product offering, and this has allowed us to commercialize our in-house casino content studio, with our first game recently launched across our network.” said Richard Carter, newly appointed chief executive of Bragg.

Yesterday Bragg announced its entry into the US market with its acquisition of Spin Games for CAD$30m.

“With further in-house casino games and player engagement tools scheduled for upcoming release, and our acquisition of Spin Games LLC laying the foundation for our strategy of building a tier one vertically integrated iGaming business in the U.S., Bragg Gaming has never been better positioned for long-term success,” Carter said.

As part of the deal, Sportradar will provide NBC with a suite of solutions and offerings from its Broadcast Services aimed at enhancing the company’s live-game sports coverage.

The expanded arrangement builds upon an existing betting data and content partnership between the two companies, through which NBC recently produced an alternative betting broadcast of a Chicago Bulls NBA game.

With access to Sportradar’s live data interface, NBC will be able to deliver faster data updates on-screen and better graphics to complement live game action, the supplier said.

The networks will also gain access to specialized league data, allowing them to track deeper storylines throughout the course of a game.

Sportradar said these products together enable NBC to drive more personalized storytelling based on the market and specific fan interests.

Read the full story on iGB North America.

The approval will see Relax’s collection of casino games made available to UK operators through its Gibraltar arm.

The supplier said it has already successfully transferred operator partners Boylesports, 32Red and BetVictor onto its Gibraltar network, with Entain’s UK brands – Ladbrokes, Coral and Gala Bingo – among the next to follow.

It added that its expansion into the UK comes as the company continues to strengthen its position in other regulated markets including the Nordics.

“Following a fruitful relationship with the Gambling Commission through our Malta-based company, having all our products and services approved for our Gibraltar branch is another major commercial highlight for us,” said Tommi Maijala, Relax’s chief executive.

“Its significance will be felt across the business, including by our valued third-party partners. This licence acquisition represents fresh opportunity in our drive to deliver excellence and growth across all regulated markets.”

The supplier first received its Gibraltar licence in October 2020, allowing it to significantly expand the number of partners it was able to work with.

In February, Relax said it was targeting expansion in the UK as it appointed Alba Monroy as its new senior business development manager.

Lottoland will work with the organisation and its network of members to promote diversity and equality across the industry.

The All-In Diversity Project also counts Entain, Microgaming, Caesar Entertainment, Betsson, IGT, Scientific Games, Flutter Entertainment, Gaming Innovation Group and Kindred Group among its members.

“As a global employer, employing people from 29 nationalities and speaking between us 30 different languages, Lottoland is committed to providing a fun, safe and fully inclusive culture where our people feel like they are truly part of the Lottoland family,” Lottoland chief executive Nigel Birrell said.

“We are a multicultural business that celebrates, values and respects individual differences, no matter what your sexuality, gender, gender identity, age, ability, race, religion or beliefs are, all of our employees have a voice, and we provide an environment to ensure everyone can do their best work.”

All-in Diversity Project co-founder Christina Thakor-Rankin added: “Lottery is a significant sector of the industry and having this perspective as we drive forward will benefit all businesses involved. 

“Having Lottoland supporting the Project is incredibly important as it means that we now have a steering group that is representative of absolutely every aspect of the industry, including lottery – not only the most popular and widely acceptable face of the gaming industry across the world but also a product which embodies diversity, equality and inclusion like no other.”

In February, the All-in Diversity Project also entered into a strategic partnership with the International Betting Integrity Association (IBIA) to further promote diversity and equality in the gambling sector. 

The regulator first presented SEO-Butler with an order to stop marketing of illegal gambling websites on its sites on 7 December, 2020.

It then warned on 22 March of this year that if SEO-Butler did not stop promoting these sites, it would be fined.

In response, SEO-Butler issued a letter saying its sites were blocked for users with Norwegian IP addresses.

However, reviews between 19 April and 3 May showed that while many sites were blocked, four sites had dot.no domains and were available to view. SEO-Butler continued to promote illegal gambling on these sites.

The sites in question were Tjenpengeronline.no, Fotballreisetips.no, Finnstilling.no and Startsidendin.no.

As a result, Lotteritilsynet opted to issue a fine.

“SEO-Butler has on a number of occasions been made aware of breaches of the marketing and dissemination ban,” the regulator said. “Lotteritilsynet takes a serious view of repeated breaches of the regulations, especially after the actor is made aware of which specific cases are considered to be breaches of the rules.

“Furthermore, SEO-Butler has in several cases given the impression that it has complied with the orders to stop its illegal business.”

In determining the size of the fine, the regulator noted that, according to the Norwegian Lotteries Act 1998-99, such a fine should be “so large that it eliminates the benefits the offender may have by continuing the illegal activity,” but “at the same time should not be unreasonably high.”

It ultimately decided to issue a fine of NOK2,000 per day, starting from 25 May, up to a maximum of NOK200,000.

Gaming revenue was the biggest contributor with HKD3.86bn – slightly down from HKD4.0bn last year – while non-gaming sources from resorts generated HKD598m. The operator’s construction materials division, meanwhile, brought in HKD641m.

The Galaxy Macau casino proved to be the company’s biggest revenue source, bringing in HKD3.4bn. Although gaming revenue from the casino was down 5.9% to HKD2.88bn, the Galaxy Macau mall raised HKD292m – a 93.4% rise from last year.

StarWorld Macau recorded net revenue of HKD1.01bn, HKD972m of which was from gaming.

Looking at the amount wagered, players staked HKD47.23bn at VIP tables Q1; HKD11.59bn was staked at mass tables, and HKD4.20bn in electronic games. for a total of HKD63.02bn.

Adjusted EBITDA for the quarter was up 203.5% to HKD859m, but down from the HKD1.0bn from the fourth quarter of 2020.

Galaxy chairman Dr. Lui Che Woo said: “Our balance sheet continues to remain healthy with $42.4bn in cash and liquid investments as at the end of Q1 and $33.6 billion of net cash. Total debt was $8.8bn, including $8.3bn associated with our treasury yield enhancement program and $500m of core debt.

“Going forward in the medium to longer term, we remain confident in the future of Macau. We have seen signs of early recovery post the reinstatement of the Individual Visit Scheme (IVS) in late September 2020 and it may take a few more quarters for business volumes to ramp up.

“However, we do acknowledge the ongoing difficulties associated with COVID-19 and potential future flare ups of COVID-19 could have a material adverse impact on our financial performance.” 

Crown must pay $12.5m towards the inquiry itself, and also pay an annual Casino Supervisory Levy of $5.0m in both FY2021 and FY2022, after the regulator found Crown “unsuitable” to operate a casino in the Barangaroo district of Sydney in February. The operator may pay a further levy in FY2023, but this is “subject to further consultation”.

In order to eradicate potential fraud, Crown must equip all its casino gaming with card technology and not accept cash.

In addition, it must cease all international junket operations, which the operator says it has already done.

The ILGA noted that the business was “making significant progress” already towards being a suitable licensee.

“Crown, through its Executive Chair Helen Coonan, is addressing many of the issues which caused Commissioner Bergin to find that it was unsuitable to hold a casino licence in NSW,” said ILGA chair Philip Crawford.
“The Authority has also entered into an agreement with CPH to address issues around its influence and control over the management of Crown.”

Helen Coonan, Crown’s executive chairman, said the ILGA’s recognition of its progress was a positive sign that it would be permitted to operate the Barangaroo casino.

“While we recognise we have more work to do, we welcome ILGA’s indication today that Crown’s reform implementation is well-advanced towards suitability to operate gaming at Crown Sydney.” said Helen Coonan, Crown’s executive chairman.

“It’s important to know we are well on track but I have assured the regulator there will be no complacency as we continue to embed the changes to improve our governance and compliance processes across the organisation.”

The Bergin Inquiry began when the New South Wales ILGA launched a probe into Asian gaming giant Melco Resorts & Entertainment Limited’s purchase of shares in CPH Crown Holdings.

Melco later backed out of the deal, but the Inquiry continued.

The Inquiry assessed Crown’s suitability as a licensee for a new resort at Barangaroo in Sydney, and uncovered money laundering and organised crime connections within Crown and its dealings with Asia-based junket operators.

While it said that Crown was “unsuitable” to operate the casino as is, it added that it may be suitable after undergoing changes.

Crown chief executive Ken Barton stepped down after the findings of the Inquiry were released in February. Further senior Crown executives and directors also resigned as a result.

The Victoria state authority then launched its own investigation into flagship resort Crown Melbourne’s suitability to have a casino license in that state.

In March, private equity group Blackstone put forward a bid to acquire Crown for AUD$8.02bn (£4.47bn/€5.21bn/US$6.19bn). The group later added a clause dissolving the deal if either of Crown’s licenscs were suspended, or if Crown did not receive a New South Wales licence.

This week, rival land-based operator Star Entertainment Group proposed a merger with Crown that would create an estimated combined operation amount of AUD$12.00bn (£6.71bn/€7.76bn/US$9.43bn).

The GB Gambling Commission opened a review of the business in March 2020 under section 116 of the Gambling Act 2005, which sets out that the Commission can review any licensee if it meets certain criteria.

The operator’s licence was suspended while the review was carried out due to a number of unspecified compliance failings.

At the time, the regulator pointed to Section 116(2)(a) of the Act, which permits a review if the regulator “has reason to suspect that activities may have been carried on in purported reliance on the licence but not in accordance with a condition of the licence”.

According to a statement from Richard Williams, a solicitor at Joelson who represented Stakers, the operator “took an early decision that it would prefer to cease operating in Great Britain rather than pay a financial penalty.”

He said that as the Tribunal refused Stakers’ initial application to stay the suspension of its licence, by the time the appeal was heard the operator’s business in Great Britain was effectively extinguished.

The appeal covered a number of regulatory issues, including whether the operator could be compelled to participate in compliance assessments via Skype, and whether participants should be cautioned under the Police and Criminal Evidence Act (PACE) prior to recorded compliance assessments.

Williams said the Tribunal took 6 months from the final hearing, and 12 months from the initial suspension to issue its decision.

“Operators whose licence has been suspended, even where they do not agree with the Commission about alleged regulatory failings, will understand that appealing a suspension to the First-tier Tribunal may not be a viable option if they want to keep their business open,” Williams concluded.

The agreement will see the National Lottery serve as an official partner of the tournament, as well as of the RLWC2021 CreatedBy capital grants programme, a social impact initiative.

Delivered in partnership with government’s Department for Digital, Culture, Media and Sport (DCMS) and Sport England, the programme will focus on improving the environments where rugby league is played by investing in new facilities and equipment.

The deal will also grant the National Lottery extensive rights including branding at all 61 matches during the tournament, tickets, player appearances, social media assets, unique experiences and becoming the sponsor of the tournament’s volunteer workforce.

Funds for the initiative will come from a National Lottery promotional fund, and not money allocated for National Lottery Good Causes or by its operator Camelot.

RLWC2021 will take place in England from 23 October to 27 November. 

“Local communities have faced significant challenges during the pandemic, so the opportunity to deliver good news and look to the horizon is uplifting,” RLWC2021 chief executive Jon Dutton said.

“The ability to make a difference to people’s lives as well as supporting the future of grassroots Rugby League has always remained our mission, and this partnership further enhances our promise to put people, place and civic pride at the very heart of the event.”

Camelot chief executive Nigel Railton added: “I am proud that the National Lottery is able to play such a key role in supporting the Rugby League World Cup 2021 and the wider community after such a tough year – while, at the same time, being able to give back to National Lottery players who make all of this possible.”

Sports Minister Nigel Huddleston also welcomed the deal, saying: “This partnership will provide significant long-term support to the sport including infrastructure and equipment for rugby league loving communities up and down the country.”