Month: January 2022

Hedén joins with significant experience in the igaming sector. He spent two years as chief product officer at Yggdrasil Gaming, in addition to a senior consulting role at Gan. Hedén joined Swinnt in October 2021 prior to assuming his new role.

Hedén will be tasked with improving the player experience for future Swinnt games, as well as expanding the supplier’s product team.

Swinnt’s chief commercial officer David Mann said: “I am delighted to announce Per as our chief product officer and for Swintt to continue to benefit from his unrivalled experience, knowledge and passion as we look to take our games to the next level, grow our product team and streamline our internal processes.
“Per has been working with Swintt for several months and has already made an impact on our games and the experience our slots and live casino titles provide players. As CPO, he will continue to influence the direction in which we take to game development and how we elevate the player experience.”

Hedén added: “I am delighted to be joining Swintt at such a pivotal stage in its growth journey.
“I am looking forward to working closely with the talented team to create the best player experience possible while also driving Swintt into becoming a tier one developer that also leads the change for sustainability across the industry and, indeed, globally.”

Under this partnership, the three CHL member leagues – the Western Hockey League, Ontario Hockey League, and Quebec Major Junior Hockey League – will be monitored by Sportradar Integrity Services through its Universal Fraud Detection System (UFDS).

Sportradar already has a large portfolio of ice hockey partners, spanning nine different leagues and federations around the world. The addition of Canada strengthens its leadership position across North American sports leagues.

 “By engaging Sportradar, a leader in providing integrity services, the CHL is putting itself in a strong position to protect the integrity of their competitions as well as educate and inform all their key stakeholders about potential risks within a sports betting environment,” said Andy Cunningham, director of global partnerships for Sportradar Integrity Services.

Together with its UFDS, Sportradar will also provide an integrity audit to the CHL, making its Intelligence and Investigation team available throughout the agreement to assist investigations into any potential integrity threats.

This comes after sports betting regulations in Canada have strengthened, making it compulsory for CHL teams, staff, stakeholders and junior players to be educated on the importance of integrity via an elearning tutorial program, which is soon to be made available in multiple languages. This tightening of rules came after customers in Canada were permitted to wager on single sports events, rather than only multiples, for the first time.

Single-event sports betting became legal in Canada in August last year following Bill C-218’s passage into law in July. Sportradar says this bet monitoring system has been independently assessed and verified by recognized experts in the field of sports betting and integrity and, as such, complies with the British Colombia Lottery Corporation’s (BCLC) prioritisation of responsible gambling .

Dan MacKenzie, president of the Canadian Hockey League added: “We are excited to sign this agreement with Sportradar Integrity Services. The provision of their bet monitoring and education services will only further strengthen our current integrity measures.

“The CHL is fully committed to protecting all of our league-wide stakeholders from the threat of match-fixing, and Sportradar’s eLearning tutorial will be integral to ensure they are fully equipped with the necessary knowledge and understanding of how best to recognize and react to integrity threats.”

This agreement follows Sportradar Integrity Services reaching a similar deal with the International Handball Association late last year.

CQUniversity’s Experimental Gambling Research Laboratory (EGRL) experts found that 41% of the 3141 bettors in the study – surveyed over a four week trial period – set a deposit limit when gambling, while over half of the players considered themselves ‘unlikely’ to set one.

However, those who set limits found them useful, with a quarter finding the intervention helped prevent overspending at least once a week. Over the course of the trial, 32% of players adopted at least one type of betting limit.

In addition, the research showed that uptake on setting betting limits is actually low when the practice is voluntary. The trial showed that high-risk gamblers were reluctant to set limits, while those considered low risk didn’t see the need to set a betting limit.

During the trial’s discrete choice experiment, in which consumers were asked about thier preferences for betting limit messaging, the optimum betting limit prompt was found to be “Do you monitor how much you spend on betting? Manage your online wagering”. The terminology emphasised “managing and self-monitoring” as opposed to “constraining and information”, or “improving and self-appraisal”.

Lead author and CQUniversity research professor Nerilee Hing found that deposit restrictions were the most popular tools amongst players, followed by an overall spend limit, a single bet amount limit, and a loss limit.

Online operators in Australia have been required to allow players to set deposit limits, as well as sending regular prompts to review said limits. CQUniversity’s research suggests that implementing such a mandatory scheme, in addition to capping maximum limits, would strengthen harm prevention.  

Professor Hing said: “Of those with more serious gambling problems, 45.6% were setting at least one limit. This is encouraging, however as this group benefits the most from opt-in limits, the fact that more than half aren’t taking that option suggests there’s still a need to address why people are unwilling to limit their betting.

“The study showed that prompt messages need to be consistent to allow gamblers to self-reflect. Then we see better uptake of limits.”

House Bill 1103 aims to prohibit sports betting operators in Virginia from disregarding promotions and bonuses from taxed revenue, after the first 12 months of betting activity has passed.

The bill looks to do this through amending sections 58.1-4030 and 58.1-3037 of Virginia’s state code, clarifying that from 12 months after launch, operators will be taxed on revenue without deducting bonuses.

Read the full story on iGB North America.

The proposal comprises a combination of cash for 50% of Aspire Global shares at a price of SEK111 per share, and equity consideration for the remaining 50%, consisting of 7.6 million newly issued shares in NeoGames.

NeoGames said that Aspire Global shareholders, who in aggregate own 67.0% of Aspire Global’s outstanding shares, have elected to accept the offer and will elect to receive up to 100% of the 7.6 million offered NeoGames shares.

A bid committee of independent Aspire Global directors, formed in response to the offer, has also unanimously recommended shareholders accept the offer.

When submitting the offer, NeoGames said the combination of the two businesses would result in the creation of a “leading global provider in interactive content, proprietary technology and operations across all elements of ilottery, online sports betting and igaming verticals”.

It also said the acquisition would provide strategic opportunities for the combined business to further accelerate and diversify into new areas and regions, including Latin America and Africa, as well as bolster its position in existing markets such as the US.

According to NeoGames, other benefits for the business would include strengthened management expertise and company structure, as well as a commitment to continued, profitable growth.  

“As we have shared previously, we embarked on a process to identify external growth opportunities in areas we thought could solidify our standing as a leader in providing digital solutions to lotteries globally,” NeoGames chief executive Moti Malul said. 

“As more and more lotteries globally converge into additional gaming verticals such as online sports betting and igaming operations, the ability to provide a wide range of products, combined with experience in their operations, is becoming increasingly important.

“By integrating our market-leading platform and scalable position within the rapidly expanding global ilottery market with Aspire Global’s proprietary sports betting platform, BtoBet; its igaming content and aggregation platform, Pariplay; and its proprietary content and turnkey B2B gaming solutions, NeoGames will be positioned to significantly increase our addressable market opportunities.”

Should the acquisition go ahead as expected, the combined business would be led by Malul as chief executive, while Raviv Adler, currently chief financial officer at NeoGames, would remain in this role.

Tsachi Maimon, chief executive of Aspire Global, is expected join NeoGames as president and lead the newly formed igaming division, while the current board of directors of NeoGames is expected to remain unchanged.

“In recent years Aspire Global has had an amazing journey,” Maimon said. “We have seen substantial organic growth supplemented by value creating acquisitions. 

“This transaction is the natural next step for our company, as we further enhance our scale and competitive position across all business lines. The objective of the combination is to generate significant long-term value for both sets of shareholders, by synergistically capitalising on the key strengths of our two platforms and positioning them both for expansion in new and existing markets.

“Not only is this a strategic fit, it is also a strong cultural fit, as significant parts of both management teams worked together extensively during NeoGames’ inception.”

An offer document outlining full details of the proposals is due to be published on or about 4 April this year, with the acceptance period set to run from this date through to 3 May. The expected settlement date is to be on or about 17 May.

Subject to certain regulatory approvals – the receipt of valid tenders of not less than 90% of Aspire Global’s shares and customary closing conditions – the acquisition is expected to complete during the first half of 2022.

The offer comes after sports wagering technology provider Esports Technologies last month completed its acquisition of Aspire Global’s B2C business for $75.9m.

The deal, which was first agreed in October 2021, saw Esports Technologies take ownership of Aspire’s B2C online content portfolio and sportsbook brands. Aspire will run backend operations for the acquired brands, which include Karamba, Hopa and BetTarget.

Aspire Global last month also agreed to acquire a 25% stake in bingo supplier End 2 End for $1.7m, with the option to acquire the rest of the its shares in up to five years’ time.

For the 12 months through to 31 December 2021, total group revenue is likely to amount to a record $972m (£713m/€853m), up from $850m in FY20, 888 said in a post-close trading update.

888 put this expected growth down to the success of its product leadership strategy, as well as its continued expansion into regulated markets around the world.

The operator said regulated and taxed markets are likely to account for 74% of all revenue in 2021, up slightly from 73% in the previous year, with particularly strong performances in the UK, Italy, Romania and Portugal partially offset by a decline in Germany.

Looking at business segments, B2C is set to increase 15% year-on-year to $934m, with casino revenue forecast to climb by 24% and sports betting revenue 4%, despite the latter being impact by 888’s exit from the Netherlands following the launch of the country’s regulated market.

Key highlights for the year included 888 agreeing to acquire William Hill’s non-US assets from Caesars Entertainment, with this deal expected to close in the second quarter of the current year.

888 also agreed a strategic partnership with Sports Illustrated to power a branded betting and gaming website in the US market. The first launch took placed in the third quarter of 2021, rolling out in Colorado.

The operator also launched its 888sport brand in Germany under a local licence, while the operator agreed to sell its B2C and B2B bingo business, with the idea of increasing its focus on core B2C platform and US growth strategies. 

“I am pleased to report another year of record revenues alongside these important strategic milestones, delivering double-digit revenue growth despite a very tough comparative period,” chief executive Itai Pazner (pictured) said.

“This performance reflects the continued success of our data-driven investments and execution against our product-leadership focus that delivers ongoing improvements in the usability, quality and safety of our sports betting and gaming products.”

Forecast full-year growth comes despite an expected 16% drop in revenue for the fourth quarter of 2021, with this expected to fall from $255m to $214m. Q4 B2C revenue is set to fall 17% to $205m, but B2B could climbed by 10% to $9m.

888 said the Q4 decline is in line with board expectations, largely reflecting a strong comparative period, together with the impact of regulatory and compliance changes, including the operator’s exit from the Netherlands.

“2021 was a year of outstanding strategic progress for 888 as we announced the transformational acquisition of William Hill International and reached an agreement to sell our bingo business to increase our focus on our B2C and US growth plans, as we continue to execute our plan to build a global online betting and gaming leader,” Pazner said. 

“In addition, we successfully launched SI Sportsbook in the US shortly after signing a long-term brand partnership and began operating 888sport under a new licence in Germany, all using our in-house sports platform.”

Total market revenue for December 2021 amounted to $404.1m (£295.4m/€353.7m), up from $312.9m in the same month of 2020, but 8.1% down from $439.6m in November 2021.

Sports wagering revenue slipped from $55.4m in December 2020 to $59.0m, which was also 48.6% lower than the record $114.8m posted on November.

However, player spending on sports betting remained high, with the state’s handle for the month standing at $1.23bn, up 23.5% year-on-year and just short of the record $1.29bn set in November 2021.

FanDuel and PointsBet, both partnered with Meadowlands, remained market leaders in the sports betting sector with $29.9m in revenue, ahead of Resorts Digital and DraftKings on $12.4m and BetMGM partner the Borgata in third with $6.9m.

Turning to online casino, revenue in this sector was 33.9% higher than 2020 at $133.2m, which was a new record for the state, surpassing the previous monthly high of $127.0m set in November 2021.

A total of $130.9m was attributed to online slot games, while the remaining $2.3m came from online poker.

The Borgata retained top spot in the state’s igaming market with $37.1m in revenue, just ahead of Golden Nugget Online Gaming with $36.0m and Resorts Digital on $32.9m.

Looking at land-based casinos, revenue was 44.0% up year-on-year to $211.8m, while this was also 2.4% higher than $206.9m in November 2021. Slots accounted for $150.5 m in revenue and table games $61.3m.

For the year-to-date, total market revenue through to the end of December was $4.74bn, up 64.5% on the same point in 2020.

Sports betting revenue was 104.7% higher at $815.6m, while igaming win increased 40.9% to $1.37bn and land-based casino revenue 69.1% to $2.55bn.

In his new role, Murr will be responsible for the overall strategy and operations of both the igaming and sports betting businesses.

Murr had been serving as interim president of online gaming and TwinSpires, alongside his full-time role of senior vice president and chief technology officer for CDI.

He has been with CDI for more than 14 years, also holding the roles of president of United Tote and chief information officer for the entire CDI business.

Prior to joining SCI, Murr spent over four-and-a-half years with General Electric, serving in a number of roles such as chief technology officer for the Americas and IT director.

“I’ve been heavily involved with TwinSpires and our Online Gaming operations throughout my tenure at CDI,” Murr said. “I am passionate about these businesses and believe strongly in their future growth potential and strategic importance for CDI.”

CDI chief executive William Carstanjen added: “During his tenure with CDI, Ben has been an important leader in the growth across our operations. He has been a key player throughout the extensive changes in our Company over the last 14 years and will continue to move our TwinSpires and online businesses forward.”

Murr will remain as a senior vice president of CDI in addition to his new responsibilities, but the operator will commence a search to appoint a new senior vice president and chief technology officer.

Earlier this month, Sweden’s government launched a consultation on a new, lower deposit limit for online casinos of SEK4,000 (£324/€388/$443) a month, with this set to come into force from February.

The aim of the new measures, which would be implemented from 7 February until 30 June, would be to minimise gambling-related harm and risks amid the ongoing pandemic. 

The player protection argument was also used as justification for the previous online casino deposit cap of SEK5,000, which was in force between 2 July 2020 and 14 November 2021. 

While originally intended to be a short-term measure, the cap was repeatedly extended and kept in place throughout the pandemic.

Responding to the latest consultation, which is due to close today (17 January), Spelinspektionen said that while it would not oppose the re-introduction of temporary measures, given the resurgence of Covid-19 in Sweden, it is still too early to know the impact these rules have on players.

Spelinspektionen was previously critical of the SEK5,000 deposit limit that was put in place in mid-2020, arguing that there was not enough evidence to support such measures. 

The regulator said its position on this has not changed and more data is required if such measures are to remain place for the longer term.

However, the regulator also said it was pleased that greater clarification had been given in terms of how operators manage players who set their deposit limits higher than SEK4,000 a week, but later lower this limit.

Spelinspektionen added that is still in the process of evaluating the impart of the existing temporary measures and will report its findings back to the government no later than 15 March.

The Executive Council approved a bill to be sent to the legislature, after the Bureau of Gaming Supervision (DICJ) published responses to an initial consultation on changes at the end of last year.

Under the new rules, six concessions to operate casinos in Macau would be permitted. While this would be an increase from the three full concessions currently available, sub-concessions would no longer be permitted.

As three sub-concessionaires are allowed to operate under the current system, the new rule would effectively keep the number of permitted operators in Macau at six.

While the Macau government in its initial proposal said it was looking into a reduction in concession numbers, public responses to its initial consultation showed strong support for keeping the number of operators at six.

In the consultation, 217 responses dealt with the question of the number of concessions.

Of these responses, 22 indicated they wished to see no more than six concessions issued. A further 95 said they would prefer exactly six concessions, while 36 supported there being more than six concessions. The remaining responses did not have a clear preference.

These concessions would last for ten years, down from the 20-year concessions granted when Macau opened its gaming market, but can be extended for up to three years under exceptional circumstances.

Certain requirements for concessionaires have also been tightened. For example, 15% of shares in any business granted a licence must be held by a managing director that is a Macau resident.

In addition, concessionaires must also have a minimum share capital of MOP5bn (£454m/€543m/$621m).

According to the Executive Council, the new proposals will also “strengthen the mechanisms for verifying and supervising the suitability of concessionaires, individuals and companies that participate in gambling activities”. This, it said, would involve increasing the scope of suitability checks.

It also promised that the social responsibilities of concessionaires would be more thoroughly defined.

While further details on this were not provided, the initial consultation said that licensees should take on a number of specific social responsibilities, including supporting small and medium-sized local businesses, protecting labour rights and taking part in philanthropic ventures.

Although the initial consultation proposed adding government representatives to the board of each concessionaire, there was no mention of this in the Executive Council’s summary of the bill that will be sent to the Legislative Assembly.

The Assembly will vote on this bill, which is set to come into force the day after it is published.