Month: February 2023

Bally’s released its preliminary fourth quarter and full year 2022 results today (February 13).

If the fourth quarter preliminary revenue is accurate, this will be a gain of 5.2% year-on-year.

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Consumers in the country will be able to access a range of games on the StarGames.de site, including the Book of Ra series of titles.

The licence also means all Greentube’s processes for responsible gaming, anti-money laundering, IT security and game mechanics have been acknowledged by the Gambling Authority of the Federal States of Germany as compliant with the Interstate Treaty 2021.

“Receiving this licence is further testament to the quality and reliability of not just the StarGames brand, but also Greentube as a whole,” Greentube’s chief operating officer Georg Gubo said.

“Being granted the German licence is a major milestone for Greentube and we are extremely proud that the regulatory authorities deemed our application successful.”

StarGames brand manager Laszlo Pados (pictured) added: “Receiving the nationwide German licence is a testament to – and proof of – all the hard work that everyone at Greentube has put into the project over the last two and a half years. 

“This also opens up a wide range of opportunities for StarGames.de, mainly in the field of mobile apps, but also in marketing and advertising within the boundaries of the Interstate Treaty 2021.”

Launched in 2013, the Wynn Interactive division has a presence in a number of states across the US, but remains loss-making, with figures for 2022 showing the division posted an adjusted property loss before interest, tax, depreciation, amortisation, depreciation and rental costs (EBITDAR) of $98.5m.

However, this was significantly lower than $267.4m in the previous year and. after it came close to breaking even in the fourth quarter, chief executive Craig Billings said the division could become profitable before the end of 2023.

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Chhabra already serves as president of the Las Vegas-headquartered business, which advises and invests in public and private companies across the global digital gaming ecosystem.

Chhabra joined Tekkorp in September 2020, having previously served as chief executive at FoxBet, chief corporate development officer at The Stars Group and group director of strategy and corporate development at William Hill.

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The Advertising Standards Authority (ASA) investigated after complainants questioned whether the appearance of the retired former England players was in breach of the advertising code, which restricts gambling operators from associating with individuals likely to be of strong appeal to those under 18 years of age.

The complaints related to two Paddy Power television commercials broadcast in November 2022 featuring Crouch and a Sky Bet promoted tweet from October 2022 featuring Richards. Two complainants contacted the ASA about both ads.

Both operators claimed that neither individual was of particular appeal to children with Paddy Power referring to the Committee of Advertising Practice (CAP) and UK Code of Broadcast Advertising (BCAP) guidance on gambling and lotteries advertising, which states that long-retired footballers who were now known for punditry were of low-risk of strong appeal to children. Crouch, now 41, last played for England in 2010 and retired in 2019, while 34-year-old Richards last played in the Premier League in 2016.

The ASA considered that neither had a presence on social media platforms used extensively by minors, such as Tiktok. It concluded that Crouch “had an overwhelmingly adult commercial appeal” having recently launched a beer brand with Brewdog. It said that while Richards “did have direct links to Premier League football” as a pundit, “his social and other media profile was predominantly adult-orientated”.

The ASA concluded that the Crouch or Richards ads were not of strong appeal to children or young persons and no further action is required.

It explained: “From 1 October 2022, the CAP Code stated that marketing communications for gambling products must not be likely to be of strong appeal to children or young persons, especially by reflecting or being associated with youth culture. They must not include a person or character whose example was likely to be followed by those aged under 18 years or who had strong appeal to those aged under 18.

“The ASA expected advertisers to provide evidence that they had identified what persons or characters were generally known for outside the context of an ad, and had used appropriate sources of data and information to assess their likely level of appeal to under-18s.”

Launched last year, the initiative was developed in response to the cost-of-living crisis to help reduce health inequalities in the most disadvantaged communities. 

According to GambleAware, research indicated people in more deprived areas were three times more likely to experience gambling harms compared to those in the least deprived communities.

As such, the funding initiative aimed to ensure minoritised and marginalised groups could access the help and guidance to address gambling harm.

Organisations were invited to submit their applications for a grant of up to £100,000, with GambleAware having announced £1.2m will be shared between 22 successful applicants.

Projects include Refugee Access, Wigan Warriors Community Foundation, Hull FC Rugby Community Sports and Education Foundation, Azad Kashmir Welfare Association, Yellow Scarf CIO, Reframe Coaching CIC, Solihull Moors Foundation and Alabare Christian Care & Support.

Funding will also be sent to Blackburn Foodbank, Age UK Westminster, Shama Women’s Centre, Al Hurraya, Prison Radio Association, Simon Community Scotland and Derbyshire Alcohol Advice Service.

The Cedarwood Trust, Coram’s Field, IMO Charity, Just B (St Michael’s Hospice), Big Issue Foundation, Mind Suffolk, and Epic Restart Foundation were also successful with their applications to the scheme.

“The fund will allow GambleAware to support a range of fantastic community-based organisations, as they continue the vital work they do in addressing specific needs within their communities and the inequalities they experience,” GambleAware chief commissioning officer Anna Hargrave said.

“We already know that the cost-of-living crisis may lead to a rise in the number of people experiencing gambling harms. We are dedicated to enhancing the support we offer in addressing these issues. 

“The fund also presents a valuable opportunity to engage with communities across the country and tackle the stigma associated with speaking openly about the effect these harms can have.” 

The Community Resilience Fund will be evaluated throughout the funding period, with the final evaluation report expected in April 2024.

The news comes after GambleAware last month said it had received £13.2m in donations from the gambling industry during the first three quarters of its 2022-23 financial year, a 17.5% drop on the previous year.

Ladbrokes Coral was the biggest contributor in the nine-month period, donating a total of £7.0m to the charity.

Hillside, operating as Bet365, made three separate pledges of £2.4m, £1.7m and £907,000, taking its overall donation in the three quarters to over £5.0m.

The Italy-facing online operator, which launched Morocco’s lotteries licence in 2019, obtained the betting concession from La Marocaine des Jeux et des Sports (MDJS). The deal, which sees Sisal replace Intralot from January 2024, also includes the possibility of a two-year extension.

The offering, which includes fixed-odds and mutual betting, will be exclusively distributed by Sisal Jeux Maroc through a network of retail outlets and online. Sisal Jeux Maroc is a joint venture between Sisal and Paddy Power, another Flutter division.

The award comes a year after the beginning of the tender process, and six months after Sisal was acquired by Flutter in a €1.91bn deal.

Marco Caccavale, chief executive of Sisal Jeux Maroc and international managing director of Sisal, said: “We are extremely pleased to announce the consolidation of our offering in Morocco. The decision by MDJS is testament to the quality of our work and how much we have achieved in the last three years, in a country with a strong growth trajectory and great potential.

“This is our fourth successful international tender, all of which have been highly competitive, recognising the commitment, investment and know-how that make us unique in the market. Being part of Flutter enhances our value proposition and enables us to develop joint products and services for different market segments.”

The licence in Morocco is part of the business’ strategy for international expansion into emerging markets. It comes soon after Sisal’s contract win in neighbouring Tunisia with Sisal having also been awarded licences in Spain and Turkey.

Younes El Mechrafi, director-general of the MDJS, said: “We are delighted to have been able to conclude with Sisal Jeux Maroc, the winner of our call for tenders on sports betting, an agreement which puts in place a highly responsible and forward-looking framework and which offers the National Fund for the Development of Sport (FNDS) growing resources. This agreement marks a real quantum leap for the MDJS, and strengthens its position in a constantly evolving sector.”

Intralot announced in 2021 that its eight-year betting licence, signed in 2019, would instead end in December 2022. The expiry of the contract was later extended to December 2023.

Revenue for the year reached SEK8.04bn, down from SEK8.14bn in the previous financial year, with a mixed set of results for its operating divisions.

The Tur lottery division remained by far the operator’s primary source of revenue, with this area of the business generating SEK4.90bn in revenue in 2022, a 0.4% drop from 2021. This was put down to the change in customers’ purchasing habits in retail.

Revenue from the Sport & Casino arm reached SEK2.07bn, down 12.2% year-on-year as a result of new responsible gambling measures, cancelled sports events at the start of the year and a limited range of pool games during the Fifa World Cup, which switched from its traditional summer date to the winter for 2022. 

In contrast, the Casino Cosmopol and Vegas business experienced a 22.8% rise in revenue from SEK872.0m to SEK1.07bn. Svenska Spel said this was due to the removal of all pandemic-related restrictions on retail venues, with its facilities having been forced to close in the first half of 2021 in line with national measures.

Some SEK3.92bn in revenue came from online, with SEK3.01bn generated by the operator’s agent network, SEK537.0m restaurants and bingo halls and SEK534.0m land-based casinos.

Turning to spending, gaming tax expenses reached SEK1.55bn and revenue costs reached SEK1.03bn. In terms of operating expenses, personnel costs totalled SEK1.13bn, other external costs were SEK1.91bn and depreciation and impairment of intangible and tangible fixed assets SEK337.0m.

After accounting for SEK128.0m in finance-related income, this left a pre-tax profit for the year of SEK2.52bn, up 1.9% from SEK2.47bn in 2021. Svenska Spel paid SEK521.0m in tax, leaving a net profit of SEK1.995bn, a slight increase from SEK1.957bn in the previous year.

Based on this performance, Svenska Spel’s board proposed a dividend of SEK2.00bn, with this now set to be put forward for approval.

“That our surplus goes back to the Swedish people is one of the reasons why we are all of Sweden’s gaming company,” Svenska Spel chief executive Patrik Hofbauer said. “During the 25 years that Svenska Spel has existed, together with our customers, we have contributed over SEK100.00bn to the state treasury.

“During 2023, we will continue to offer our customers fun and exciting game experiences and we will also continue to contribute to a better society. It should always be fun, easy and safe to play with us at Svenska Spel.”

As part of the deal, Playtech will supply its sports betting kiosk software and management systems to Gold Rush, which will be distributed across Ohio.

The rollout will initially cover 50 locations, and will be activated ahead of Super Bowl LVII on 12 February.

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Curaçao-based Equinox and Domiseda from Slovakia were both ordered to pay €900,000 (£798,122/$966,201) for offering online games of chance in the Netherlands without the relevant licences.

The breaches focused on Orientxpresscasino.com, with the regulator saying both Equinox and Domiseda acted as providers for the website despite not holding a licence as required by laws set out in the country’s Betting and Gaming Act.

Users were able to play a range of online casino games, make deposits and withdrawals using Dutch payment methods, set the language to Dutch, while the site itself had an IP address in the Netherlands.  

In response, Equinox said it had taken action to block players from the Netherlands from playing on or accessing the site to ensure it was operating in line with Dutch law.

However, the regulator opted to proceed with a fine after saying the website had already breached national law by offering online gambling without a licence.

KSA also noted that there were a number of aggravating circumstances with the case in that there were no safety measures for customers accessing the site. This included a lack of age verification, meaning underage players could potentially access online gambling.

“A licensed provider of online games of chance incurs costs for applying for and maintaining a licence that illegal providers of online games of chance do not have to incur,” KSA said. 

“In addition, illegal providers do not pay any tax in the Netherlands and are not restricted in the conduct of their business by the strict rules of the Betting and Gaming Act and the associated licensing regulations. This allows illegal providers to offer games of chance that are prohibited for licence holders or offer higher prices and bonuses.

KSA chairman René Jansen added: “The objective is to create a safe environment for people who want to gamble online. This includes taking strict action against illegal providers.”