Month: April 2022

Speaking at the 2022 ICE World Regulatory Briefing, Gardner insisted that the watchdog “will not turn a blind eye to bad practice”, referencing how seven operators have paid more than £20m in penalty packages as a result of regulatory failings already this year.

However, she added: “When we look at our licensing, compliance and enforcement work, the difference in the resources necessary to deal with a smaller local operator compared to a multi-national outfit is stark.

“Similarly, I am struck by the very significant increase in the complexity of our most recent change of corporate control cases. This is a job that needs doing and doing well but, as you will all know from your own work in your jurisdictions, doing it well comes with a cost and the resources needed are often different in terms of skills, availability and so on.

“As such, I suspect we are not the only gambling regulator looking at our resources and how those need to adapt with this changing landscape.”

Gardner said that the regulator would publish later this week its consultation response to the UK Government’s Gambling Act Review, which will consider the watchdog’s resources and powers.

She added: “As detailed in our business plan, we aren’t going to stop making progress while we wait for the review to end. We are going to press on with important work such as the work we have been doing to strengthen our customer interaction requirements.”

Over the coming year, the regulator expects to carry out about 130 regulatory and criminal investigations.

However, Gardner admitted that “enforcement in our own market will not solve all the problems or tackle all the issues”.

She added: “We know that we need to be more agile in how we respond to the challenges we face as this market continues to evolve at pace.”

The complexity of the landscape is illustrated by what Gardner described as a “different category of threat” – namely, “new, novel products… that do not fit wholly or neatly within definitions of gambling products”.

She added: “Our concern is that this all adds up to a risk of harm.”

The acquisition, IGT said, would more than double the IGT PlayDigital content library to approximately 225 games, as well as provide a proprietary game aggregation platform to distribute third-party games, and data-driven promotional and user-engagement tools.

Subject to the satisfaction of customary closing conditions, IGT said it expects the deal to close during the second quarter of 2022.

“The acquisition of iSoftBet will provide market-tested proprietary digital content, advanced game aggregation capabilities, scalable promotional tools, analytics and strong creative talent to IGT’s PlayDigital operations,” IGT chief executive Vince Sadusky said. 

“This will enhance PlayDigital’s competitive capabilities with a proven, complementary content portfolio across Europe and North America as we provide best-in-class games and technology to our fast-growing igaming customers.”

Oakvale Capital LLP will act as lead financial advisor to IGT, while Wachtell, Lipton, Rosen & Katz will serve as legal advisor and KPMG LLP tax and financial due diligence advisor.

M. Firon & Co. and Wiggin LLP will be legal advisor to iSoftBet and BDO Israel independent registered public accounting and tax firm.

The deal comes after IGT in February signed a definitive agreement to sell its Italian proximity payment business to PostePay – Patrimonio Destinato for €700.0m. 

The business offers services through a fully owned payment technology platform and a network of 54,000 points of sale, including bill payments and prepaid payment cards, telco and e-vouchers top up, and technological solutions such as merchant and enterprise services.

The amount spent by consumers during the month far surpassed the $316.7m bet in March of 2021, while this total was also 16.6% higher than $409.1m in February this year according to the Indiana Gaming Commission.

With the NCAA basketball tournament occurring in March, basketball remained by far the most popular sport to bet on in Indiana, attracting $274.1m in bets. Football wagers reached $2.0m and baseball $1.6m, while parlay betting amounted to $121.3m and other sports drew $76.5m in wagers.

In terms of revenue, adjusted gross revenue for the month stood at $32.3m, which was up 22.8% from $26.3m in March 2021 and 90.0% higher than $17.0m in February of this year.

Looking at individual operator performance, FanDuel partner Blue Chip Casino led the way in revenue terms, posting $12.2m in revenue off a $143.8m handle.

DraftKings-partnered Ameristar Casino had the highest handle of licenced operators during the month, taking $145.9m in bets, and also posted $7.5m in revenue.

Belterra Casino and its FanDuel-operated sportsbook placed third with $5.3m in revenue off a handle of $58.3m.

Indiana was also able to collect $3.1m in sports betting tax during March.

The regulator said that it was contacted by a customer playing online slot games on the operator’s website. On certain games, the player was able to select the autoplay option, whereby the slots would continue to spin automatically if there was credit in the player’s account.

Following an investigation, KSA said it also identified the feature on at least three online slot games on the website.

Offering forms of automatic play in online slots is prohibited in the Netherlands, with KSA saying that players must make a “conscious choice” for each spin they play on these games.

KSA said the operator disabled slots with this feature after being contacted by the regulator over the issue, adding that it would check other operator’s websites to ensure autoplay was not available as an option elsewhere. 

Operators that fail to remove the feature or games with an autoplay option could face a fine of up to €300,000 (£250,671/$325,996).

“From the point of view of consumer protection and the risk of the development of gambling addiction, forms of automatic play on online gambling machines are prohibited,” KSA said. “In this form of play, the player no longer consciously chooses the next game and loses control.”

ICE London will return this week following a 26-month absence due to the Covid-19 pandemic, with the three-day event taking place from 12-14 April at the ExCeL London.

Figures released by organiser Clarion Gaming ahead of the event opening tomorrow also showed that almost 5,000 meetings have been scheduled at ICE London 2022 using the official ICE app.

“It’s very encouraging to have experienced sustained interest in attending ICE from visitors based in every corner of the globe,” Clarion Gaming managing director Stuart Hunter said. 

“ICE has always set the tone for the year-ahead and the stands at ExCeL will be brimming with the many hundreds of new products and services that are being launched in London and that have the potential to transform the industry.”

ICE London 2022 will also welcome a range of leading brands from across the industry, with exhibitors from 59 markets due to exhibit at the show.

“Whilst the ICE experience will be slightly different this year due in no small part to our enforced change of dates, key exhibitors including Pronet, Betconstruct, Pragmatic Play, Soft2Bet, Paysafe, IQ Soft and Dealasport have all increased the size of their presence,” Hunter said. 

In addition, ICE London 2022 will host key meetings involving organisations and strategic bodies including the European Casino Association, EUROMAT, International Association of Gaming Advisors, International Association of Gaming Regulators, Gaming Regulators European Forum, International Masters of Gaming Law, Global Gaming Women, YGAM, Responsible Gambling Trust, Society for the Study of Gambling and the Danish Online Gambling Association.

“My aspiration is for our customers to leave ExCeL London in a positive, upbeat and confident mood, equipped with all of the ideas, energy, imagination and determination to put the last two years behind them and plan for a prosperous year,” Hunter said.

“There is no doubt that ICE London with its 400-plus suppliers and unparalleled international attendance remains the gambling industry event where ideas are formed, new strategies formulated and where the future is written.

“This has been a huge team effort and I could not be more proud of the Clarion Gaming team that has got ICE London and the co-located iGB Affiliate London across the line. To achieve this has been monumental and I would also like to extend my huge thanks to the international community of exhibitors for all of their unstinting support.”

The March total was significantly higher than the $161.4m wagered in the same month last year, while it was also 8.2% more than the $215.9m bet by consumers in February this year.

Of the total $233.5m wagered in March, some $208.3m was bet online, while the remaining $25.3m was spent at retail sportsbooks across the state.

In terms of revenue, this was up from $13.5m in March last year, which at the time was a new monthly record for the state, while the total was 67.4% higher than $8.6 in February 2022. The $14.4m recorded was the second-highest total since the market opened.

Online revenue in March amounted to $12.6m, while retail revenue reached $1.8m.

The Diamond Jo Casino in Dubuque, which operates a FanDuel sportsbook, moved into first place in the market with $3.9m in revenue from $48.8m in bets.

Sister casino property Diamond Jo Casino in Worth, which is partnered with FanDuel, ranked second with $2.6m in revenue off $30.5m in wagers, then Wild Rose Casino Jefferson and its DraftKings sportsbook with $1.4m from $31.3m in bets.

The monthly total was up 12.9% from the previous record of $499.2m set in December last year, with $558.7m bet online and the remaining $5.0m at retail sportsbooks.

Players won $521.8m from sports betting – $517.3m online and $4.5m from retail – which left $40.5m in gross revenue before free bets, up 4.9% from $38.6m in December.

After accounting for $20.9m worth of free bets and promotional credits, this left $19.6m in taxable revenue, an increase of 13.3% month-on-month. The state was also able to collect $2.0m in tax from sports betting in January.

Looking at individual operator performances, DraftKings remained in top spot with $173.1m in total wagers accepted, ahead FanDuel on $149.9m and BetMGM with $120.0m.

FanDuel ranked first for gross revenue, with the $11.9m generated in January marginally higher than FanDuel on $11.5m, while BetMGM placed third with $10.7m.

After taking away free bets, FanDuel was still top with $8.0in revenue, then DraftKings on $6.7m and BetMGM with $2.0m.

In his new position, Lapin will help Playson enforce its new brand identity, oversee its product portfolio, improve game production, support with tools creation and drive market expansion.

Lapin takes on the role having served as head of product department at Playson since June 2018, prior to which he was product manager for his first eight months with the business.

Before joining Playson in October 2017, Lapin spent over two years with The Coca-Cola Company, first serving as brand manager for the sparkling category, then senior brand manager for the water and ice tea category.

His other roles during more than 10 years working across strategic marketing and product management included brand manager at Jacobs Douwe Egberts and brand management for confectionary at Mondelēz International.

“I’m thankful for the opportunity to contribute in this new role which brings forward fresh challenges,” Lapin said. “It’s a very special moment for me, especially since the news comes at such a pivotal time for Playson.

“The company has an incredibly talented team and has progressed so much in such a short amount of time. As we march onwards with our fresh brand identity, we will only continue enhancing our position across the igaming industry.”

Playson chief executive Alex Ivshin added: “Everyone at Playson is pleased to have Vsevolod as our new chief operating officer, we’re adamant that he will deliver fantastic results for the company.

“During his time with us, Vsevolod has consistently shown to be hard working, passionate, and dedicated to bringing the next wave of exciting products to our offering. As we look to build on our recent momentum and extend our reach across regulated markets.”

The new Hard Rock Sportsbook will allow players aged 21 or over in the state to place bets across a wide range of sports and competitions.

The app also features a selection of promotions, bet types, reward features and customer support.

The launch was made possible after Hard Rock announced a market access agreement with the NNGE in January this year.

The NNGE, a division of the Navajo Nation, the largest federally recognized Native American Nation in the US, operates five gaming and hospitality facilities across Arizona and New Mexico.

“Arizona has a rich sports culture and we’re proud to enter the state with our great partners at Navajo Gaming,” Hard Rock Digital executive managing director and chief executive Marlon Goldstein said.

‘We’re excited to debut our new platform, which players of all experience levels will appreciate for its ease of use, unique features and robust gaming options.”

NNGE interim chief executive Brian Parrish added: “The quality and functionality of the mobile platform is outstanding, and we are anticipating great opportunities to cross-market the NNGE with a premiere gaming-hospitality operator and the world-renowned Hard Rock brand.”

The launch comes after players in Arizona bet a record $563.7m (£433.9m/€518.1m) on sports in January. 

Under the deal, PointsBet will become an official sports betting partner of MLSE and its portfolio of professional sports teams.

MLSE counts National Hockey League team the Toronto Maple Leafs, National Basketball Association franchise the Toronto Raptors, Major League Soccer outfit Toronto FC, Toronto Argonauts of the Canadian Football League and American Hockey League team the Toronto Marlies among its Ontario-based assets.

The partnership comes after Ontario last week opened its legal online gambling market. PointsBet was among the first operators to go live in the province, accepting its first bet just 50 second after the market opened.

“We happily welcome PointsBet Canada as a partner of the Maple Leafs, Raptors, TFC and Argos as they enter the Ontario market with a well-established reputation in the sports betting industry,” MLSE senior vice president of global partnerships, Jordan Vader, said.

“We look forward to utilising our partnership to provide 19+ fans of our teams with new and different ways of interacting and engaging with the sports they love with a trusted operator in PointsBet that prioritises responsible gaming.”

PointsBet Canada chief executive Scott Vanderwel added: “You rarely get the opportunity to partner with an organisation that spans across all four professional leagues through the Toronto Maple Leafs and Toronto Raptors, Toronto FC and the Toronto Argonauts, and offers year-round entertainment within the sports market in Canada. 

“We are thrilled to be partnering with MLSE on this innovative and exciting relationship.”

The deal comes after MLSE last week entered into a similar partnership with Flutter brands PokerStars and FanDuel.