Month: May 2023

The Barometer is formed from a consumer survey, which was conducted by market research company IPSOS on 2,803 Dutch people.

The report made a number of key findings. In total, 14% of the Dutch population gambled in the previous 12 months, up from 11%.

The number of young adult players had grown since 2022, with the percentage now standing at 30% compared to 21% in the previous year.

NOGA also noted that there had been an increase in young people exhibiting problem gambling behaviours, growing from 8% to 14%. However, the association said that this increase was mainly due to the rise in players.

Majority of players are men

Of those who had gambled in the last 12 months – totaling at 483 people – 69% were men. Of this same pool, a majority of the gamblers were young people, making up 36%.

When asked which device they use to gamble on, most of the survey’s participants noted smartphones as their device of choice, coming in at 81%. Laptop was chosen by 63% of respondents, and 27% chose tablets.

In terms of whether a website or an app is preferable, 85% of participants chose website, while 51% chose apps.

Marketing

The Barometer also revealed that Dutch people are seeing gambling advertising less often compared to 2022.

In total, 15% of participants said they have seen advertising “very often” compared to 25% of participants last year.

Participants saw ads more infrequently across almost all channels. In total, 77% said they’d seen ads on television, compared to 81% year-on-year, while 43% said they’d seen ads online – down from 49% in 2022.

Those who had seen ads on social media dipped also, to 32%. However, ads viewed on outdoor advertising grew from 15% to 22%.

This comes as the Netherlands is to be hit with a strict ban on untargeted gambling advertising on 1 July. The ban will prohibit television and radio ads, as well as ads on billboards and in public spaces.

But online ads will still be allowed, as well as ads on on-demand television.

Zitro said that it made the decision to hire the new individuals due to its “growing” presence in the European market.

Andreas Leitinger, who is to be based in Solvenia, has been hired to Zitro’s sales team. As the new sales manager, Leitinger will oversee the company’s key markets, including Germany, Luxembourg and Slovenia among others.

“Andreas brings years of experience in leading companies in the gaming industry, and his expertise will help Zitro expand its reach in these regions,” said the business.

Zitro also opted to promote Krystian Konopka to a sales manager after a “successful” career with the business. Konopka will be responsible for overseeing the business’s sales operations in Poland, Ireland, Sweden and Egypt.

The business also announced that John Morris is to provide support for the international sales team. He is to contribute to product strategies and positioning.

“His efforts will ensure competitive game performance in selected markets while also exploring new business opportunities,” said Zitro.

“We are proud to have John, Andreas, and Krystian on board as part of our growing team,” said Zitro EMEA sales director Nadège Teyssedre. “With their experience and expertise, we see tremendous potential for further growth and expansion in the European gaming market.”

Alongside former CCO and current interim CEO Nils Andén, Barber and Snijders led a review of Kindred’s commercial and marketing operations in the second half of 2022.

Kindred said that the following the conclusion of this process both opted to exit the business, with the operator saying they will leave in the autumn.

The resignations are the latest shakeup in Kindred’s senior leadership, following last week’s news that chief executive Henrik Tjärnström and chief financial officer Johan Wilsby would also be leaving the business.

Both were long-serving executives with more than a decade at Kindred Group. Barber joined as an affiliate manager in 2010 and rose through the ranks, while Snijders joined in 2008 initially focused on the Benelux region.

Barber and Snijders exit “not connected” to CEO and CFO resignation

Kindred said that Barber and Snijders departures are not connected to the previously communicated resignation of CEO Tjärnström and CFO Wilsby.

‘I’m proud to have played my part in Kindred’s success over the past 13 years,” said Barber. “Our fantastic global marketing team has built a solid foundation upon which Kindred can continue to grow in competitive and exciting markets.

“It’s now the right time for me to move on to fresh opportunities ahead.”

Kindred paid tribute to Barber and Snijders following the announcement: “Both AJ & Elen have made huge contributions to Kindred’s success over the last decade, and we thank them for their dedication and leadership.”

Kindred strategic review

In July 2022, iGB reported Kindred had contacted a number of businesses in order to explore a potential sale.

These included large European gaming operators such as Entain, 888 and Tipico, as well as private equity firms such as Apollo Global and Blackstone.

Activist investor Corvex Management, which has a 15% stake in the business, has been pushing for the sale.

In April, Kindred announced a review of strategic alternatives that could potential merger, sale or partial sale of the business, following a disappointing performance in 2022, particularly in the fourth quarter.

The group currently holds 83% of the economic interest in the social gaming business, with the proposed purchase to be priced at $20 per share. L&W also has 98% of the voting interest in SciPlay.

The consideration would imply an enterprise value of $2.1bn for SciPlay and a premium of 28.5% based on SciPlay’s closing stock price as of the close of business on 17 May, the last trading day before the proposal. 

Should the acquisition go through as expected, SciPlay would become a wholly owned subsidiary of L&W.

According to L&W, the deal would unify its businesses and enable seamless collaboration to support the group’s cross-platform strategy. L&W added that a combined balance sheet with SciPlay would provide flexibility to invest cash across the group to drive shareholder value.

Value for SciPlay shareholders

“The proposed transaction offers SciPlay’s public shareholders a compelling combination of value, speed and certainty, L&W president and chief executive Matthew Wilson said in a letter to the group’s board.

“SciPlay’s public shareholders would receive an immediate and certain premium value for their shares in cash, obtaining liquidity and de-risking their investment in a volatile and uncertain market.”

Wilson added that L&W will not conduct due diligence and does not expect the transaction to require regulatory approvals or the approval of L&W shareholders. Further, he said L&W will not require any third-party financing to fully fund the deal.

“Through our existing collaboration with SciPlay, we believe the transaction would be operationally seamless, and we look forward to fully joining forces with SciPlay’s talented leadership team and employees to continue innovating on behalf of customers and players,” he said.

SciPlay growth in Q1

Last week, L&W posted a 17.1% year-on-year increase in revenue for the first quarter of 2023, helped by record performances by its igaming and SciPlay.

L&W experienced double-digit growth across all its business segments during the quarter, with its gaming division remaining by far its primary source of revenue.

Revenue in the first quarter amounted to $670m, up from $572m in the corresponding period last year. Gaming revenue hit $419m, SciPlay $186m and igaming $65m.

L&W ASX listing

The announcement comes after L&W this week also secured conditional approval for a secondary listing on the Australian Securities Exchange (ASX). L&W will be permitted to the official list of the ASX as an ASX Foreign Exempt Listing.

Official quotation of L&W Chess Depositary Interests (CDIs) is due to commence on 22 May, with each CDI to represent one fully paid share of common stock.

Issued by the Hellenic Gaming Commission’s Gaming Supervision and Control Commission (EEEP), the licences will enable Soft2Bet to roll out its online betting and casino products in the country.

The Greek licences follow recent approvals in Ireland, Denmark and Sweden, and form part of the provider’s wider growth plans in Europe.

Soft2Bet also said the approvals support its ongoing focus of operating in more regulated markets around the world.

“The issuance of our betting events and casino games remote gaming licenses in Greece is a terrific step forward for us,” Soft2Bet’s group general counsel David Yatom said. “We view this as a springboard for further growth and are excited to pursue additional licence opportunities in the near future. 

“Soft2Bet remains focused on and committed to expanding its operation and bringing our exceptional gaming experience to even further markets across the globe. 

“This very much highlights the company’s commitment for expenditure to even further regulated markets across Europe and around the globe. It is an additional important step in the right direction for Soft2Bet.”

Total revenue in Lithuania during the three months to 31 March amounted to €55.3m (£48.0m/$59.7m), up from €43.9m in the same period last year.

Some €36.6m came from online gambling, a 36.0% year-on-year rise. The majority of this came from Category A online slots, with these games generating €23.1m in revenue from €306.8m in player bets.

A further €979,987 came from Category B slots after consumers spent €6.3m betting.

Lithuania’s remote sports betting revenue reached €9.6m, after players wagered €151.2m, while online table games activity resulted in €2.9m in revenue from €31.3m in spend for the quarter.

Turning to land-based gambling and revenue was 10.0% higher at €18.7m. Category B slot machines were the primary source of revenue, generating €8.0m in revenue after players bet €50.7m.

Category A slot machine revenue reached €3.8m from €15.8m in bets, with tables games revenue at €4.4m off €20.3m and sports betting €2.5m from €29.8m.

Lottery results were reported separately, with gross gaming revenue from lottery activity in the quarter climbing 9.0% to €14.3m. This came despite a 2.9% drop in ticket sales to 26.5 million.

The complaint alleges that Joseph Garrison unlawfully accessed DraftKings accounts in November 2022 by launching a “credential stuffing attack”, which inputs stolen credentials – such as usernames and passwords – into login pages for other services.

The indictment states that Garrison gained access to an estimated 60,000 DraftKings player accounts by doing this.

Read the full story on iGB North America.

The passage of the markets in crypto-assets (MiCA) regulation brings for the first time EU-wide regulatory oversight to the crypto market.

National authorities will have three-months to develop the necessary authorisation framework for crypto businesses who wish to do business.

For the largest cryptocurrency organisations national governments will be required to regularly transmit information to the European Securities and Markets Authority (ESMA).

The new rules will potentially have a large impact on crypto casinos and other gaming businesses active in the space.

MiCA AML guidelines

In order to prevent duplication with the European Union’s recently passed AML framework, which included rules governing cryptocurrency, MiCA largely doesn’t touch on money laundering.

However, the new rules do include provisions outlining that the European Banking Authority (EBA) be required to maintain a list of non-compliant crypto businesses.

MiCA also requires that organisations who conduct cryptocurrency activities, where the parent company is located in a countries listed on the EU list of states that are high-risk for money laundering and on the EU list of non-cooperative jurisdictions for tax purposes, implement “enhanced checks” in line with the EU AML framework.  

“I am very pleased that today we are delivering on our promise to start regulating the crypto-assets sector,” said Swedish finance minister Elisabeth Svantesson.

“Recent events have confirmed the urgent need for imposing rules which will better protect Europeans who have invested in these assets, and prevent the misuse of crypto industry for the purposes of money laundering and financing of terrorism.”

Development of cryptocurrency framework

The European Commission initially presented the proposed rules in September 2020. MiCA is part of a wider digital finance package that aims to “develop a European approach that fosters development and ensures financial stability and consumer protection”.

In addition to MiCA, the package includes a digital finance strategy and a Digital Operational Resilience Act (DORA) that also covers crypto businesses.

“Recent developments on this quickly evolving sector have confirmed the urgent need for an EU-wide regulation,” said French minister for the economy, finance and industrial and digital sovereignty Bruno Le Maire when the rules were first proposed.

“MiCA will better protect Europeans who have invested in these assets, and prevent the misuse of crypto-assets, while being innovation-friendly to maintain the EU’s attractiveness. This landmark regulation will put an end to the crypto wild west and confirms the EU’s role as a standard-setter for digital topics.”

The ban will come into effect on 1 September this year as part of an effort to tackle problem gambling in NSW.

Pubs and clubs will be formally notified from next week that external signs, including fixed unilluminated awning signs to digital video displays, must be removed, altered or concealed before the September deadline.

Venues that can demonstrate delays in removing signage that are outside of their control will be given an additional three months to comply with the new rules. However, once this period has ended, the government will adopt a zero-tolerance approach. 

Names such as VIP Room/Lounge, Golden Room/Lounge, Players’ Room/Lounge and Prosperity Room/Lounge will be among names banned. In addition, images of dragons, coins or lightning motifs will be covered by the ban.

The government said it will work with industry associations and venues during the transition period to support the removal. The maximum penalty for those who fail to remove signs is 100 penalty units, or AU$11,000 (£5,890/€6,780/US$7,319) per offence.

Gambling harm-minimisation 

“The NSW government is committed to introducing important gambling harm-minimisation measures,” Minister for Gaming and Racing David Harris said. “The façades of pubs and clubs across the state are littered with signs such as ‘VIP lounge’ to alert those walking or driving by that they have gaming machines.

“Some of these signs are extremely prominent, can be seen by children and members of the community who are at risk of gambling harm.

“While there are already laws in place that prohibit gaming related signage, venue operators have circumvented these by advertising ‘VIP Lounges’ We are putting an end to this loophole for the health and wellbeing of our communities.”

The ban comes after the government also recently introduced legislation to ban clubs with pokies from donating to NSW political parties.

Under the deal, BetVictor will serve as the league’s official sports betting partner for the 2023 campaign.

The agreement will cover activities and campaigns across the CEBL’s broadcasts and media platforms throughout the season.

BetVictor is licensed in Ontario, having secured approval from the Alcohol and Gaming Commission of Ontario (AGCO) in June 2022.

“This partnership with BetVictor will not only offer cutting-edge online gaming experience to users but also an increased awareness of the CEBL brand globally,” CEBL co-founder and chief executive Mike Morreale said.

Read the full story on iGB North America.