The new online casino and accompanying mobile app will offer customers access to a range of casino games such as slots, roulette and live dealer blackjack, poker and baccarat.
Tropicana Online Casino will also be integrated with the Caesars Rewards loyalty program, allowing users to exchange rewards points for exclusive experiences at Caesars locations across the US.
The latest fine of the controversial casino operator came about after Crown opted to allow patrons to gamble at its Melbourne Casino through cheques made out to themselves, rather than the casino, even before the cheque had cleared.
This is a violation of the Victorian Casino Control Act 1991 which prohibits the use of cheques at a casino, with a few specific exceptions. The policy is designed to prevent the casinos from extending credit to gamblers and as an anti-money laundering measure.
The large nature of the fine was due to it being an undocumented and long-running practice at the casino that subverted important controls. Based on the information uncovered, the VGCCC said it would be further investigating undocumented procedures at Crown.
“This is the second time we’ve taken action on undocumented practices at the casino, and we will investigate further to ensure there are no more,” said chairperson Fran Thorn. “To be clear, we will not allow the casino to conceal its practices to avoid scrutiny.”
“Practices like accepting bank cheques expose Crown to the risk of money laundering, put patrons at risk of gambling harm, and compromise our ability to ensure the casino runs with integrity, safety and fairness.”
The information that led the VGCCC to make the enforcement action stemmed from the findings of the 2021 Royal Commission into the business’s Crown Melbourne property.
In that case, Commissioner Ray Finkelstein opted to find the company “unsuitable” to hold a casino licence, but held off from immediate cancellation.
The VGCCC said it was also “concerned” regarding the Royal Commission’s findings that Crown likely accepted blank cheques in exchange for chips.
In Finkelstein’s report it was suggested that this practice involved Crown writing the amount of debt an individual had incurred on the cheque following the conclusion of the person’s gambling session.
While the VGCCC said that if such a practice occurred it would be a “serious contravention of the Act”, but ultimately decided that there was insufficient evidence to establish that the casino engaged in this activity.
Following the penalty, the Commission has ordered Crown to ban the blank cheque practices at its Melbourne casino and asked for a review of Crown’s current policies and procedures for accepting blank cheques.
This is the third time that the VGCCC has decided to issue a financial penalty to Crown due to conduct unearthed by the Royal Commission.
In May 2022, the regulator fined the operator $80m for breaches related to its China Union Pay processes and, in November the same year, the casino was fined $120m for failures in its responsible gaming obligations.
“Crown Melbourne accepts the outcome from the Victorian Gambling and Casino Control Commission,” said a Crown Resorts spokesperson.
“These practices have ceased, and we have implemented significant improvements to reduce and prevent risk across our business.
“Under new ownership and leadership, our Future Crown program is driving whole-of-company reform as we continue to uplift our culture and build a Crown that exceeds the expectations of our stakeholders and the community.
“We will comply with the directions issued and work constructively with the VGCCC and the Government to address this and other issues raised as part of the Victorian Royal Commission.”
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ANJ examined action plans presented by 235 racetracks, 203 casinos and 7 gaming clubs.
Six plans were rejected, belonging to five casinos and one gaming club.
Under a legal order imposed on 2 October 2019, all operators in France are mandated to submit action plans to operators, detailing agendas to fight against fraud, money laundering, terrorist financing and safer gambling initiatives.
For casinos and gaming clubs, ANJ said that most of the action plans had been approved – but reiterated the requirements it set out for 2022.
The 2022 requirements asked casinos to greatly improve their safer gambling initiatives for customers, specifically focusing on “monitoring tools, internal organisation, staff training” and safer gambling information.
Overall, ANJ said there had been “few significant advances or innovative actions” in action plans belonging to casinos and gaming clubs.
In light of this, ANJ is set to release a practical guide for casinos that will set out how to identify and support those who may be struggling with gambling addiction.
ANJ said that the action plans brought forward by the National Federation of Horse Racing – which encompasses 235 racing companies and 10 regional federations in France – were “substantially identical” to those submitted in 2022.
ANJ emphasised that the racing entities must continue to make a distinction between spaces that are dedicated to families and spaced dedicated to betting.
Upon reviewing money laundering action plans earlier this month, the regulator said that “significant progress” had been made.
In February, an advertising action plan created by French national lottery operator Française des Jeux (FDJ) was rejected by ANJ. In its criticism, ANJ said the plan was not comprehensive enough, and did not take the 2022 criticism regarding gambling marketing in France into account.
Dr. So informed the board that he would retire and not offer himself up for re-election as the exective director of SJM Holdings at the business’s forthcoming annual general meeting (AGM).
Upon retirement, Dr. So will no longer hold his numerous board and executive roles, including as vice chairman and chief executive officer, as well as a member of the Executive and Remuneration committees.
However, Dr. So will remain in place as director of SJM Resorts after the conclusion of the 2023 AGM.
Dr. So confirmed that he had “no disagreement” with the board and was not aware of any matters related to his executive and board level roles that need to be brought to attention of the shareholders of the company.
SJM Holdings said that its Executive Committee will continue to oversee the implementation of the business’s strategic objectives and business operations following the grant to the company’s subsidiary SJM Resorts of a new 10-year concession by the Macau government.
“The board wishes to thank Dr. So for his valuable contribution during his long tenure of office as vice-chairman, executive director and chief executive officer of the company,” said the board in a statement.
Liberal Democrat peer and chair of the Peers for Gambling Reform Group Lord Don Foster said he was happy that many of the areas the group had campaigned for were included in the white paper.
“I’m pleased that they’re tightening up affordability checks,” said Foster. “I’m pleased that there’s going to be greater control over free spins.”
However, that government opted to not go further on the question of the terms or amount of gambling advertising permitted disappointed Foster.
“The industry has put out statements over the years saying advertising doesn’t have any link to gambling harm. And the research evidence is totally to the contrary,” said Lord Foster.
“Indeed, the Gambling Commission has already said categorically that gambling advertising and marketing does lead to some people starting gambling who weren’t gambling before.”
In his comments in the Commons today, Paul Blomfield MP echoed this criticism. He argued that the white paper did not contain enough measures sufficiently tackle advertising was a sentiment
Blomfield – as the MP for Sheffield Central – represents Liz and Charlies Ritchie. The bereaved couple have campaigned for reform through their organisation Gambling with Lives.
“The Premier League recognised that advertising is harmful, but a front of shirt ban isn’t enough. Fans are exposed to an average 700 ads at every Premier League game.”
Pointing to the number of other countries that have imposed advertising restrictions, Blomfield argued DCMS should “think again on that issue”.
“[The] campaign for comprehensive action on advertising won’t stop.”
The government have also faced criticism from a number of quarters regarding the number of proposals put to consultation.
The Gambling Commission and DCMS will subject many of the measures to further analysis and examination.
Some commentators say the government is dragging its feet on implementing the provisions of the document.
“The government’s commitment to limit online stakes, introduce affordability checks and implement a statutory levy are all very welcome,” said Matt Zarb-Cousin, director of Clean Up Gambling. “But the requirement of further consultation will allow the sector more time to profit from the harm it’s currently causing.”
Lord Foster criticised the argument for the high number of consultations was a legislative backlog in parliament. According to Foster, the 2005 Gambling Act already sufficiently empowered DCMS to implement some measures without primary legislation.
“For example, there is a clause within the 2005 act that gives the power to the secretary of state to introduce a statutory levy. And the minister can do it in any way he or she chooses – that’s already there.
“We don’t need primary legislation. So, an excuse that suggests that there isn’t going to be parliamentary time: ‘We’ve got the online safety bill, we’ve got all these other bills going through Parliament at the moment,’ simply isn’t there.”
The white paper was released earlier today to an eager audience, bringing an end to the first phase of a process that stretches back to 2020.
In an initial address to parliament this morning, Lucy Frazer, secretary of state for the Department of Culture, Media and Sport (DCMS) emphasised the focus on player protections included in the white paper. Increased affordability checks and more funds for research, education and treatment (RET) of gambling harms are all on the cards.
Zoë Osmond, CEO of GambleAware, said the white paper is a “step in the right direction” for gambling harm prevention, but added that a lack of regulation on marketing and advertising was a “missed opportunity”.
Marketing regulation included in the review focused on strengthening safer gambling messaging and allowing customers to opt-in to online gambling offers.
“After so many delays to the publication of the white paper, it is now critical that we act with urgency to ensure that the measures outlined are implemented swiftly, especially given that so many of them are subject to further consultation.”
“The lack of greater regulation on gambling advertising and marketing is a missed opportunity, particularly in regard to protecting children.”
This sentiment was furthered by Charles Richie MBE, co-founder of gambling charity Gambling With Lives, who called for a complete ban on all gambling advertisements.
“We now need to push further for an end to all gambling advertising, we need preventative affordability checks when losses reach £100 a month, and we need to do more to make the most dangerous products safer, further reducing stake sizes and play speeds,” he said.
“Only then will we be able to see a real reduction in the deaths caused by gambling.”
Paul Buck, CEO of Epic Risk Management, said that there was still a way to go in fully regulating gambling in the digital age.
“We welcome the release of the Gambling Act Review white paper because whilst it is far from the end of the process due to another likely two or three years of discussions, this now informs where we’re heading to create a safer gambling industry within the UK,” he said.
“We welcome any legislation that looks to prevent gambling-related harm sensibly, but we’re acutely aware that today’s white paper still has plenty of work to do to iron out the details on key areas.”
Buck said Epic Risk Management was particularly pleased about the terms set out for slot stakes.
The white paper states that DCMS will implement a stake limit on slots, and will consult on whether this limit will be between £2 and £15 per spin. DCMS will also consult on whether certain stake limits should be put in place for under-25s
“We particularly welcome the suggestion of differentiation of stakes on online slots for under 25s and provide further safeguards for the youngest members of society once they are legally allowed to bet – it is a step in the right direction,” he said.
Lebby Eyres, CEO of society lottery The Health Lottery also praised the white paper’s attempt at keeping children safe from gambling harm.
“We fully support the government’s goal of preventing children from accessing gambling products,” “As is stated in today’s publication, while the age limit to play the National Lottery was recently increased from 16 to 18, society lotteries were not required to follow suit.”
“However, we voluntarily raised the age of play for all The Health Lottery products sold in retail outlets to 18 in September last year as we take responsible play and the protection of children seriously.”
According to Flutter, the listing is due to enter into effect in “mid-Q4 2023” and is set to will be on top of the operator’s current listing on the London Stock Exchange and Euronext Dublin.
While the exact location of the second listing is still to be determined, Flutter has said it will be either on the NASDAQ Stock Market or New York Stock Exchange.
Despite the measure’s approval, Flutter will remain an Irish incorporated public company, headquartered at its current base in Dublin.
Flutter will remain resident in Ireland for tax purposes, as well as continue to be a constituent of the FTSE index “subject to any potential subsequent decision Flutter shareholders may make to seek a primary US listing.”
Flutter shareholder approved the measure at a 99.9% margin, far more than the 75% required to ensure its passage.
Flutter are making the planned move to the United States with its US sports betting and fantasy sports subsidiary FanDuel cementing its status as the largest online operator in the country.
Due to the size of the American market, Flutter’s US operations now make up a significant total of its overall operations, at $3.2b in gross gaming revenue for the 2022. This compares to $9.60bn in Flutter’s overall revenue.
In February, the business outlined the potential benefits of a US listing.
The company hopes an additional US listing will help enhance the business’s profile in the country, improving its recruitment and retention of local talent.
Additionally, Flutter hopes to have deeper access to capital markets and US investors in order to provide greater liquidity in its shares.
The country’s legal gambling market opened on 1 October 2021. The KSA’s findings were published in the regulator’s fourth Monitoring Report, which was released today (26 April).
The report found that the number of player accounts had grown from 563,000 in July 2022 to 859,000 in January 2023 – a 52.6% rise in six months. The Netherlands’ GGR has also increased year-on-year, rising by 37.7% from €90m in January 2022 to €124m in January 2023.
René Jansen, chairman of the KSA, said that the report had confirmed the KSA’s thoughts on the gambling market and emphasised the need for a safe, regulated environment for players.
“This fourth monitoring report shows a growth in the market for online games of chance, as we previously predicted,” said Jansen. “This is a development that requires all of our attention.
“Providers of games of chance must take up their duty of care firmly and intervene in a timely manner to protect players in order to realise that safe environment.”
The extensive report revealed further information about the Netherlands’ gaming market. One focal point was the number of young people – aged 18-23 – who are participating in the country’s gambling market.
In January 2023, 184,000 accounts operated by young people partook in gambling, making up 21% of all active accounts during the month. In 2022, the average amount a young person lost when betting was €54 per month, compared to €142 per month for other bettors.
The number of players who have signed up to Cruks – the Netherlands’ self-exclusion register – has also increased, topping 38,000 this month (April 2023). This is an increase of 65.2% from September 2022.
Operators of both online and land-based gambling services must check if customers are signed up to Cruks upon registering. The report found that checks peaked in November 2022, when 38 million consultations occurred during the men’s World Cup coverage. Checks totalled at 31 million in January 2023. Approximately 90% of these checks game from online gaming operators.
The number of online advertisements increased by 398,000 year-on-year, totalling at 481,000 in January 2023. The report stated that since the market opened, the volume of gambling advertising had “caused a stir”.
This general opinion of the market led to the Dutch minister for legal protection, Franc Weerwind, confirming that a ban on “untargeted” gambling advertising in the country will come into play on 1 July.
As part of the ban, operators will not be allowed to sponsor television programmes and events after 1 July 2024 and will be prohibited from partaking in deals within the sports sector – such as shirt sponsorships – from 1 July 2025.
The operator was able to post a number of all-time high figures in the three months through to 31 March, including record revenue within its casino business and record results for a number of geographical markets.
President and chief executive Pontus Lindwall said growth in regions around the world was the result of investment in previous years, with Betsson now reaping the rewards of this strategy.
“Having a long-term perspective is the key when it comes to Betsson’s view about how the business should be run and how value is created for shareholders,” Lindwall said. “In the past years, investments have been made to expand geographically to new markets and to strengthen the product offering and the competitive position. We can see that these efforts continue to pay off.
“Betsson started 2023 with yet another strong quarter, again delivering record numbers for revenue and EBIT, even though the first quarter has historically often had less activity than other quarters. Revenue increased organically by 38%, with sustained positive developments in both sports betting and casino.”
Revenue in the first quarter reached €221.9m (£196.7m/$245.4m), up 30.4% from €170.2m in the same period last year.
Casino was the primary source of revenue for Betsson in Q1, with revenue reaching a record €152.0m, up 36.9% year-on-year. This was helped by the launch of 319 new casino games in the period, 16 of which were exclusive to Betsson brands.
Sportsbook revenue was also up 19.1% to €67.2m, with €55.7m of this coming from betting on mobile. Revenue from other products including poker and bingo slipped 1.9% to €2.7m.
Looking at geographical performance, Central and Eastern Europe and Central Asia (CEECEA) was the operator’s core region with €93.5m in revenue, an all-time high helped by record revenue in Croatia, Greece and Lithuania.
Nordics revenue slipped 4.2% to €51.9m, despite record revenue on Denmark, while Latin American revenue was 23.1% higher at €45.2m, helped by Betsson’s enlarged operations in Argentina.
Elsewhere, Western Europe revenue climbed 22.4% to €27.2m, with Italian revenue reaching an all-time high, while Rest of World revenue was up 13.2% to €4.2m, helped by Betsson increasing its ownership in Nigerian gaming operator Betbonanza in Q2 of 2022.
Turning to spending and the cost of services increased by 17.9% to €74.4m, while operating expenses were also up 25.2% to €104.5m. Betsson also noted €2.1m in financial costs, which in turn meant pre-tax profit was €40.9m, up 85.9% year-on-year.
Betsson paid €4.3m in income tax, with net profit for the quarter reaching €36.6m, a rise of 75.1% from €20.9m in Q1 of 2022. In addition, EBTIDA jumped 62.6% to €54.3m.
“The year has started well for Betsson with continued profitable growth and strong cash flows,” Lindwall said. “We can look ahead to the rest of the year with a solid financial position that enables continued investments in sustainable growth and value creation for our shareholders.”
