Elys agrees to acquire US Bookmaking

Under the agreement, Elys will pay an initial $12m (£8.7m/€10.2m) upon closing of the deal, with this to be split as 50% cash and 50% in its common stock.

Additional earnout payments of up to $41.8m will also be paid as 50% cash and 50% in Elys common stock, subject to USB achieving certain adjusted cumulative earnings before interest, tax, depreciation and amortisation (EBITDA) milestones, ranging from $213,850 in 2021 and $19.4m for 2025.

The deal could close as early as July 15.

Founded in 2016, USB provides sports wagering services such as design and consulting, turn-key sports wagering solutions, and risk management.

Read the full story on iGB North America.

ITV data shows 47% reduction in gambling ads in Euro 2020 group stage

The television broadcaster showed 85 ads for betting products during the Euro 2020 group stages between its flagship ITV channel and ITV4. This was down by 47.2% when compared to the 161 ads shown during the group stage of the 2018 Fifa World Cup.

Alternatively, the number of ads per match at Euro 2020 came to 3.7, while at the World Cup it was 6.9.

The Betting and Gaming Council said that this reduction was “a direct result” of its “whistle-to-whistle ban”. Under this ban, gambling ads may not be shown during live sport events broadcast before the 9pm watershed, though they may be shown more than five minutes before the match starts or after it ends.

The report comes ahead of England’s Euro 2020 semi-final against Denmark. Earlier this week, Gambling With Lives campaign The Big Step called for ITV to air no gambling ads whatsoever during their broadcast of the match, arguing that a large number of children will be watching.

Michael Dugher, chief executive of the Betting and Gaming Council, said the data shows the BGC’s commitment to raising standards in the industry.

“These figures are testament to the success of the whistle-to-whistle ban and the continued drive for higher standards introduced by the regulated industry since 2019,” said Dugher.

“At the start of the tournament, we had the same siren voices from the usual suspects in the anti-gambling lobby making dire warnings about people being ‘bombarded’ with betting ads and calling for a ban. 

Dugher also referenced a recent answer from John Whittingdale, the minister in charge of gambling, to a Parliamentary question about gambling ads, saying that there was not evidence to suggest a link between these ads and problem gambling.

“I’m pleased that calls from prohibitionists to ban TV betting ads are baseless and not backed up by the evidence, with the government themselves also acknowledging that independent research ‘did not establish a causal link between exposure to advertising and the development of problem gambling’,” Dugher said.

“Nevertheless, the significant reduction in the number of betting commercials during the Euros, when compared to the last World Cup, is further proof of the commitment by our members to raising standards – while also promoting safer gambling, unlike the unsafe, unregulated black market that employs no one, pays no tax and makes no contribution to the economy or many of our much loved sports”. 

The BGC also pointed to a 2020 report, which found that the number of gambling ads seen by four to 17-year-olds during live sports events fell 97% since the ban was put in place, and added that members ensure that 20% of their ads are devoted to safer gambling messaging.

Bragg appoints Looney as CCO to execute US expansion

Looney will work closely with recently appointed chief executive Richard Carter to help execute Bragg’s expansion strategies within regulated markets, with key attention being paid to the US.

In addition to owning European igaming provider Oryx Gaming, Looney has also held senior position at the likes of Red Tiger Gaming and Microgaming.

Carter said: “We’re thrilled to welcome Chris to our management team. He has an impressive track record of driving growth and success, and his extensive industry knowledge will be crucial as we continue to expand globally into key markets such as the U.S., the U.K., Italy, Canada and anticipated new market openings such as the Netherlands.”

Bragg’s US expansion is already underway, following the acquisitions of Spin Games and Wild Streak Gaming earlier this year.

Looney added: “Bragg presented an opportunity I couldn’t turn down. The company’s global presence and proprietary product and content portfolio in the B2B iGaming space provides a solid foundation for further expansion into new markets. In North America in particular, jurisdictions continue to evolve, regulate and open up. Bragg is well positioned to succeed these markets and I’m excited to be part of the game plan.”

Mohegan strikes Connecticut betting and igaming deal with FanDuel

The partnership will take advantage of a new tribal compact and accompanying bill in Connecticut, which passed the state senate in May. It has been in the works since 2019.

If enacted, the bill would authorize online sports betting and other igaming offerings through the state’s two tribal operators, Mohegan and Foxwoods operator the Mashantucket Pequot Tribe.

The Mohegan Tribe previously had a deal with Kambi, which was amended last week. Now, it will be Fanduel that will provide sports betting for Mohegan instead, however.

Read the full story on iGB North America.

B2B Gaming Services receives Greek supplier licence

The operator joins Kalamba Group, NetBet, Aspire Global’s Pariplay and GoldenRace, who have also recently received licences from the HGC.

B2B Gaming Services will supplies online betting, casino games and other igaming offerings to BetShop.gr.

“Our efforts are always focused on the responsible and innovative offer of technology services to ensure and satisfy the online market, while at the same time we continue to increase our social footprint, with consistency and respect for society and the Greek state,” said Gabriel Chaleplis, founder of B2B Gaming Services.

“We understand licencing under the new permanent regulatory framework as a reward for our decision that our Company cannot be absent from Greece. At the same time, we see it as an opportunity to continue our offer for the benefit of online players, society, and the State. We are here with our twenty-five years of experience, and we continue.”

The licence will be valid for an initial period of seven years.

Following the passing of a bill in 2019 that addressed gambling reforms in Greece, licence applications opened in October 2020.

Two licence options became available- one for casino games, and one for online betting.

An initial draft of the bill caused controversy as it effectively banned Random Number Generator (RNG) games and placed a €2 cap on slot games.

In the final bill, the €2 cap remained, by RNG games were authorised.

LeoVegas’ responsible gaming framework approved by eCogra

The assessment was carried out to ensure LeoVegas’ services were in line with the European Commission’s protection regulations for consumers, online gaming services and minors.

It examined all of LeoVegas’ brands and markets.

Ecogra’s results revealed that LeoVegas’ services adhered to the EU’s protection regulations and no further remarks were necessary.

“Offering a safe and secure gaming experience and preventing minors from online gambling has always been our top priority,” said Gustaf Hagman, group CEO for LeoVegas.

“It is therefore reassuring that LeoVegas’ work in this area has now been assessed and reviewed by an external, independent party that confirms that we are in conformity with the Commission’s recommendations.”

The review took place alongside local authorities’ normal administrative supervision.

In April, Swedish gaming inspectorate Spelinspektionen issued a fine of SEK2m (£1.6m/€1.9m) to LeoVegas due to concerns over LeoVegas’ customer risk classification system.

ASA upholds complaint against Ladbrokes for “socially irresponsible” ad

The case concerned a recent advert that aired in April 2021 promoting Ladbrokes’ sports betting services, which received one complaint, and was the second time that the ASA has upheld a complaint against the brand’s “Where the Nation Plays” campaign.

The ad showed three scenes of men placing bets in the Ladbrokes app and their various reactions to the football game, with the first showing a man looking up at the match and down to placing bets on the Ladbrokes app.

The scene was accompanied by the voiceover: “I’m a nodder: up to the football, down to the app like a dog on a dashboard.”

The second scene depicted a man visibly frustrated while using the app, followed by the voice over: “When I bet I’m a frustrated manager. I kick every ball.”

The final section of the ad showed a group of men jumping up and down with excitement at a football game while the voice over stated: “If I’ve got an acca [accumulator] coming in, I find myself getting very excited.”

Ladbrokes responded to the recent complaint that they sought advice on the CAP Copy Advice Standard after being signed off by advertising standards agency Clearcast.

CAP advertising standards state that ads must not portray or condone gambling behaviour that appears socially irresponsible or could lead to financial, social or emotional harm. 

The bookmaker claimed that the ad shows the range of feelings fans feel around football matches. Clearcast also argued that the ad did not promote problem gambling behaviour, but said that the reactions showed the characters engaging with football.

The ASA acknowledged that the ad depicted the emotions around football. However, it argued that the first scene of a man engrossed in the game was socially irresponsible as the man appeared detached and preoccupied with gambling, rather than the football itself.

Additionally, the authority raised issues around the second scene, arguing that the man’s aggression appears to be in response to losing a bet and not the game outcome.

“We also acknowledged Clearcast’s view that the ad depicted men going about their business and aware of their surroundings. However, the second scene depicted a man on a station platform miming kicking a ball in frustration, unaware of his proximity to another passenger who was shown reacting to his behaviour,” it said.

Finally, the ASA considered the final scene to show that the men’s excitement was from winning an accumulator, rather than the game.

The ASA concluded by stating the ad breached the BCAP codes 17.3 and 17.3.1, relating to gambling, and was socially irresponsible.

Ladbrokes was warned by the ASA to apply more caution with future ads when portraying situations around sports betting, and to deter from showing detachment, mood swings, or anything that might imply problem gambling.

“Marketers should take care to avoid an implication of such behaviours, for instance, with outwardly light-hearted or humorous approaches that could be regarded as portrayals of those behaviours.

“Behaviours associated with people displaying or at risk from problem gambling included detachment from surroundings, preoccupation with gambling and mood swings (including highs and lows, irritability and shortness of temper.”

Ladbrokes previously received a warning from the ASA for a racing ad that aired in October 2020, part of the same campaign, showing a man detached from his surroundings while placing a bet and subsequently came under fire for depicting socially irresponsible gambling.

The operator also received a complaint three weeks ago around a Facebook ad for its The Goonies slot game, but this was rejected by the ASA.

Illinois sports betting revenue and handle down again in May

Adjusted gaming revenue from sports wagering for the month amounted to $36.2m (£26.2m/€30.6m), down 17.0% from $43.6m reported in April.

Online sports betting accounted for $34.4m of total sports betting revenue in May, while retail contributed $1.9m to the monthly total.

In terms of handle, player spending reached $506.7m in May, down 5.7% month-on-month from the $537.2m wagered by consumers in April.

Players bet a total of $482.1m with online sports wagering operators during the month, as well as $24.6m a retail sportsbooks across the state.

Read the full story on iGB North America.