Month: March 2022

Golden Matrix earlier this week revealed that it had secured approval to launch on Nasdaq and was due to begin trading from yesterday (17 March).

The provider’s shares are now trading on the Nasdaq Capital Market via the ticker symbol ‘GMGI’.

Golden Matrix chief executive Brian Goodman said the uplisting of common stock to Nasdaq was “extremely important” to the business and that it would support its wider, global growth plans.

“We expect the uplisting to significantly improve the company’s visibility, broaden our base of both retail and institutional stakeholders, and lead to enhanced long-term shareholder value,” Goodman said.

“Additionally, we believe this uplisting will further strengthen our ability to execute on the Company’s acquisition strategy with the goal of accelerating both revenue and profit growth going forward.”

Confirmation of the listing comes after Golden Matrix earlier this month also reported record quarterly revenue of $8.6m (£6.5m/€7.8m) for the three months to 31 January 2022, up 345.0% on the previous year.

Much of the revenue increase was attributed to the acquisition of UK-based competitions brand RKings, which contributed $5.5m to the revenue total after being acquired in November 2021. 

A further $235,246 of revenue came from a related interest.

According to ANJ, Winamax’s ‘Tout pour la Daronne’ campaign portrayed that sports betting could contribute to personal success and enhance a consumer’s social status.

ANJ picked out how the campaign showed how a man improved his own and his mother’s lives after winning money from a sports bet.

A decree that came into effect in France on 4 November 2020 prohibits operators from portraying that gambling can improve a player’s, or their family’s, life in adverts or marketing materials.

ANJ in particular singled out Article D. 320-9, 2 of the code, which states “any commercial communication in favour of a gambling operator is prohibited when it suggests gambling contributes to social success”. 

In line with this, the regulator said it this means operators must not associate gambling with the possibility of a player changing their social status, having extraordinary experiences or accessing services usually considered as reserved for very wealthy people.

The ANJ added that “hyperbolic” adverts are permitted provided that they do not have the effect, through the use of emphasis, parody or grossly exaggerated staging, of infringing the provisions set out in Article D 320-9 of the Homeland Security Code.

As such, the ANJ concluded Winamax’s advert breached the law and ordered all material associated with the Tout pour la Daronne campaign be withdrawn within one month of the ruling (17 March).

This ruling, ANJ said, is the first time it has used its powers to order an operator to halt an advert.

Under the agreement, Intralot will continue to manage Morocco’s lottery offering sports betting and other games of chance for an additional year, through to 31 December 2023.

Intralot has a long-term relationship with MDJS, having powered its lottery, betting and gaming offerings since 2010. 

However, in March last year, the Greek gaming giant announced it had agreed to reduce the term of an eight-year agreement, signed in June 2019, to end on 31 December 2022.

In January this year, MDJS launched an international call for tenders as it looked to appoint an operator to manage its activities.

The contract was due to come into force from 1 January 2023, running for eight years, with an option to extend for a further two years. The successful applicant would replace Intralot.

MDJS divided the proposal into two lots. The first covered fixed-odds sports and pari-mutuel betting, including wagering on virtual events, with betting on horse and greyhound racing carved out. 

Lot two covered lotteries, instant sports lotteries including electronic instant games and raffles. 

Bidders were able to submit a proposal for one or both lots, no later than 10am on 4 April. 

Minister Franc Weerwind has outlined plans for new restrictions that are set to become law later this year after Parliament recently approved a motion calling for an all-out gambling advertising ban introduced by Socialist Party MP Michiel van Nispen.

The Minister said in a letter to van Nipsen and other lawmakers that he “will make every effort to achieve further restrictions on advertising for high-risk games of chance as soon as possible”.

Weerwind added that the draft text for a legal ban is being worked out and an amendment to the Gambling Act could be proposed before the summer. In advance of that, the Minister will use a decree designed to prevent addiction to prohibit the use of all role models in gambling advertising.

One area of particular concern, Weerwind said, was that advertising restrictions in other areas could simply lead to more online marketing. The Minister said he will look at possibilities to include a time window for online banners and videos in the decree on recruitment, advertising and addiction prevention.

Weerwind acknowledged that he was taking measures very soon after the law allowing online gambling took effect late last year.

In advance of legislation being passed, the Minister for Legal Protection has also again collaborated with industry groups Vergunde Nederlandse Online Kansspelaanbieders (VNLOK) and Netherlands Online Gambling Association (NOGA) on a series of measures designed to limit advertising and protect vulnerable groups. These include gambling commercials only being broadcast on television between 10pm and 6am and a ban on advertising on radio and in print, and come just a month after the sector agreed to limit the number of betting advertisements per commercial block to one.

Weerwind said the sector organisations — who published an initial voluntary code of conduct for online operators last year — have promised to implement these measures as soon as possible, with the aim being to implement the agreements as soon as 1 April.

“With these measures, untargeted advertising for online games of chance will be severely limited in the shortest possible time, in anticipation of a change in the law.

“I’ve also been in talks with addiction treatment centres. They have told me that the sheer volume of gambling advertisements leads to unrest among recovering addicts and problematic gambling among people who identify with the role models appearing in the ads. That was a reason for me not to wait.”

Weerwind added that concerns over how Covid restrictions and curfews may have encouraged online gambling are not reflected in recent data. A study he commissioned shows that participation in online gambling did increase during the first year of coronavirus measures, however this increase was not demonstrable among young people (aged 16 to 24).

Last month, Dutch regulator de Kansspelautoriteit (KSA) issued warnings to a number of operators over their advertising policies, after raising concerns that their activities could attract minors and young adults to online gambling.

In January, René Jansen, chairman of KSA, ordered licensees to reduce their advertising, warning the industry that politicians already perceived there to be too much in the market.

Drehkoff, who has served as CFO at Rush Street Gaming since June 2012, will move into his new position from 1 May

During his tenure as CFO, Drehkoff has supported Rush Street Gaming and its Rush Street Interactive business expand into new markets across the US, North America and other international gaming markets.

He also spearheaded over $2.00bn (£1.52bn/€1.81bn) in capital investments and $8.00bn in successful debt financings across multiple gaming jurisdictions.

Confirmation of Drehkoff’s came after Carlin, co-founder of the Rush Street Interactive (RSI) arm, in August last year announced he was to resign as CEO, making way for Richard Schwartz and taking on the new role of vice chairman.

However, in January this year, Carlin resigned from the group’s board and revealed that he would be leaving the business. Aside from co-founding RSI in 2012, he also helped launch RSI in 2012.

“We thank Greg for his many contributions and for helping to build a great business,” Rush Street Gaming chairman Neil Bluhm said. “Greg has a proven eye for recruiting and developing top talent, of which Tim is a great example. 

“We wish Greg the very best and look forward to many future successes under Tim’s leadership.”

Carlin added: “Rush Street is in great hands with Tim as CEO, and we’ve never had a more talented group of executives at all our properties.

“It has been the honoor of a lifetime to start a business with Neil and develop and operate six successful casino projects, all of which have had a positive impact on their host communities. I’m especially proud of the culture we’ve built, and I’m excited about the path ahead for Rush Street Gaming and for myself. 

“My sincere gratitude to the entire Rush Street Gaming team.”

Revenue was 43.0% lower than in the same month last year, while the February 2022 total was also down 63.0% from $2.0m in January this year, which itself was a six-month low.

This decline came despite handle increasing 25.7% year-on-year to $19.1m, with DC now home to double the number of sportsbooks as it was in February last year.

In revenue terms, Gambet 0 operated by the DC Lottery and powered by Intralot – was the leading operator in February, generating $440,409 in revenue from $3.9m in total bets.

Caesars, which operates an online sportsbook and a retail offering at the Capital One Arena, took the most bets during the month, processing a total of $11.3m in wagers, but only posted $60,924 in revenue after players won more than $11.2m.

BetMGM, active in DC via a partnership with Major League Baseball team the Washington Nationals, performed better in revenue terms than Caesars, posting $189,577 in revenue off $3.5m in bets.

Grand Central Restaurant, Bar and Sportsbook, which offers sports betting in DC through a partnership with Elys Game Technology, followed with $49,632in revenue and a handle of $399,555.

O’Sullivan – a six-time World Snooker Champion who holds the career record for both maximum and century breaks – will appear at the world’s largest gaming show at sports betting and igaming software supplier Delasport’s stand.

 “I am delighted to confirm that Ronnie O’Sullivan, the greatest snooker player of all time, will be making his first appearance as Delasport Brand Ambassador at our stand S1-340 at ICE London,” Delasport CEO Oren Cohen Shwartz said.

Cohen Shwartz added that O’Sullivan and Delasport share a number of values.

“Ronnie is a terrific personality and a snooker genius,” he said. “He is widely recognised as one of the most accomplished players in the history of the game. 

“Established 11 years ago, Delasport has earned an industry reputation as a premium Sports Betting supplier, and so our collaboration with Ronnie is a natural choice for us as we share similar values notably passion, dedication, and a high level of professionalism. 

“Ronnie is an excellent addition to the Delasport international sports family, which includes the Balkan International Basketball League, which we are sponsoring for the second year.”

ICE London 2022 will take place from 12-14 April at the ExCeL in London after being postponed from its traditional early February dates, while the co-located iGB Affiliate London event will run from 13-14 April. The event will therefore be O’Sullivan’s last activity before the 202 World Snooker Championship begins on 16 April.

Cohen Shwartz also said that Delasport would arrange events at its stand related to O’Sullivan’s appearance.

“After two years, we are looking forward to meeting our partners, friends, and potential partners at our stand at ICE. Other than showcasing our products, solutions, and services, we are preparing several engaging activities for our stand visitors, including Ronnie’s appearance. Full details of Ronnie’s attendance at ICE will be shared by the first week of April.”

To register for ICE London 2022, click here.

The free-to-play game will be launched via ITP’s WonderWins brand to coincide with the start of the 2022 Indian Premier League twenty20 cricket competition on March 26.

WonderWins, which will also house match coverage, news, information and analysis, will be ESPNcricinfo’s exclusive daily fantasy provider in India.

ITP, which launched in November 2020, said that WonderWins would be able to connect with “over 85 million discerning cricket fans on the ESPNcricinfo platform and further drive conversations with over 15 million highly engaged fans across its social media channels”.

According to a study by the Federation of Indian Chambers of Commerce and Industry (FICCI) in association with knowledge provider EY, the value of the Indian fantasy sports market is expected to reach $2.5bn (£1.9bn/€2.27bn) this year, and is expected to expand at a compound annual growth rate of 32% through to 2024.

“ESPN have been a brilliant and agile collaborator, organically wrapping WonderWins around their fantasy programming – from new article links to bespoke video programming and other product levers as we look forward to the much-anticipated IPL 2022 season ahead,” Hussain Naqi, the founder of WonderWins and ITP, said. 

“Our underlying platform is uniquely well positioned to leverage this opportunity because we can diversify content, leverage consumer data and partition it for partners as the market’s shifting sands coalesce.

“Our multiple data partnerships deliver us unique consumer insights that will allow us to hyper-segment our audience communication over time, including for other sporting events like the 2022 FIFA World Cup.”

WonderWins’ daily fantasy offering and “hyper-casual” games will continue to evolve over the coming months and years, ITP added.

Ramesh Kumar, vice president and head of ESPN Digital Media India, said: “The timing is perfect with the exciting new season coming up and we are delighted to offer our new-age cricket fans the right mix of information and entertainment for them to follow their favourite sport and teams. 

“Consequently, we are now able to wrap an array of complementary programming and editorial content in the fantasy space around WonderWins, significantly boosting fan engagement around the game, as the new IPL season comes into sharp focus.”

KSA’s research found that more than 35 gambling adverts were shown on average between 21:00 and 22:00 between October and December 2021, with the total rising to more than 40 between 23:00 and midnight.

Adverts for lotteries and online gambling platforms accounted for the bulk of the adverts.

The total number of gambling brand exposures on television, including brands on billboards during broadcasts of sports matches, also peaked at between 23:00 and midnight, with an average of more than 120 in the one-hour slot.

Under the current law, gambling advertising cannot appear on television between the hours of 06:00 and 21:00. 

Data from Nielsen in the report also suggested that total monthly ad spend for the sector peaked at almost €30m in December 2021, though it then dipped under €20m in January 2022. In every month measured, the lottery was the highest-spending sector.

Online gaming operator spend peaked at €8.6m in December.

The report comes after minister Franc Weerwind promised to crack down further on gambling ads, after new voluntary rules for operators came into effect.

In December, the Licensed Dutch Gaming Providers (VNLOK) association agreed to a voluntary advertising code for online gambling in the Netherlands, including limits on bonuses and daytime ads online.

With the code, VNLOK – with members including Holland Casino, FPO Nederland, JOI Gaming, Nederlandse Loterij and ZEbet – extended measures already in place for television and radio advertising to online advertising.

Legal limits on advertising already existed through the Remote Gaming Act, which launched with the Netherlands’ online gaming market in October.

In the report, KSA also revealed that there were 33 licence applications lodged with the regulator in 2021. Eleven licences were granted by the close of the year, although René Jansen, the watchdog’s chairman of the board, said that several applications were still being processed and a more “complete picture” is likely by the middle of this year.

Jansen also suggested that operators need to take responsibility for adopting a responsible approach in relation to the volume and frequency of advertisements.

“The objective of the modernisation of the gambling policy… [has been to] ‘channel’ players from illegal to legal offerings,” he said.

“This cannot be done without advertising. It is up to the industry themselves to implement this in a careful and responsible manner.

“It’s a balancing act between knowing yourself on the one hand and, on the other hand, causing irritation. The role of the KSA is limited in the current regulations.”

The comparative figures were taken from data gathered from the February 2020 edition of ICE, which was the last ICE London event to take place.

Stuart Hunter, managing director of Clarion Gaming, said that the uplift in registrations reflects the trust the industry has in the ICE London brand.

“Whilst the overall uplift in registrations could be due to a range of historical reasons which may no longer be relevant, the daily registrations that we are receiving as we enter the last month of our visitor campaign stand up to scrutiny and represent an extremely encouraging level of engagement,” said Hunter.

“Industry professionals registering now know about our temporary April dates and are aware that the show floor will look and feel different compared to previous years.”

Further, he commented on how ICE London 2022 will mark a coming together of the industry not seen since the last show in 2020, and said this presents an opportunity to rebound after the Covid-19 pandemic.

“The core message is that despite the difficulties facing the industry and the unavoidable problems concerning our enforced temporary dates, ICE London 2022 will be the biggest gathering of the international industry since the last edition of ICE two years ago,” he continued. “We are in close contact with our community of exhibitors and visitors and they are looking forward to being able to reconnect with their customers and suppliers in a live environment.”

“Data from the broader events industry confirm that nearly seven out of ten buyers (69%) will recommend brands that they have engaged with at live events and there’s no doubt that the return of in-person represents a major opportunity for businesses to bounce-back post-Covid.”

Hunter added that this year’s ICE will feature a number of new brands, and will offer the industry a chance to mark its return.

“ICE has always set the tone for the year ahead and the stands at ExCeL London will be brimming with the many hundreds of new innovative products and services that will be making their debut at ICE London and that have the potential to transform the industry,” said Hunter.

“ICE is very much open for business and as a team we are looking forward to marking the return of the industry in the company of the industry when it meets next month in London.”

ICE London will take place on 12-14 April at the ExCel London. To register for the event, click here.