Month: July 2023

2023 Wimbledon Odds Tracker powered by Kambi

Issued by national regulator Oficiul National pentru Jocuri de Noroc (ONJN), the licence will cover online casino and sports betting.

Soft2Bet said the licence would support its ongoing expansion into regulated markets across Europe and worldwide. 

The operator also recently secured approval in Greece, Ireland, Denmark and Sweden, 

“We consider the Romanian market as one of the pivotal markets for establishing our foothold in Eastern Europe,” Soft2Bet’s general counsel, David Yatom said. 

“Acquiring a local Romanian operating license marks an important step in our strategic expansion, building upon Soft2Bet’s success in other European markets. 

“Stay tuned for more exciting developments in the near future.”

The consultation aims to gather input and feedback on the code, so that it can be further developed.

The MGA said that this code has been in development since 2022. In January 2023, the MGA invited licensees to partake in a survey about ESG matters in preparation for the code’s development.

The regulator explained that it is being created in order to brace licensees for upcoming ESG legislation, which includes the EU’s Corporate Sustainability Reporting Directive. Malta’s government already has a voluntary ESG reporting platform in place.

The draft version of the code took six months to develop. This consisted of three stages – the peer review and research stage, materiality assessment and stakeholder interviews.

Following this, the code has now entered its final round of feedback from stakeholders.

While the proposed code will only apply to online gaming businesses, the MGA said it is exploring the possibility of extending it to the land-based sector in Malta.

Extending the code

The code was initially supposed to apply to remote gaming companies only. However, the MGA is considering extending it to Malta’s land-based sector.

Throughout 2023, MGA has cancelled a number of licences, including those belonging to MKC Limits, Totup System and BetDino.

A common theme amongst most of the cancellations is fee nonpayment.

The outcome of the competitive bidding process will see Sportradar become CONMEBOL’s exclusive audio visual and betting data rights partner.

The multi-year deal covers the worldwide rights for three CONMEBOL football competitions: The Copa Libertadores, the Recopa Sudamericana and the Copa Sudamericana. Under the terms of the agreement, the rights will run for the next four seasons.

Sportradar and CONMEBOL strengthen relationship

CONMEBOL secretary general José Astigarraga said the organisation was “glad” to strengthen its relationship with Sportradar.

“We are sure that the prestigious CONMEBOL club tournaments, with more than 60 years of history, will be a great showcase to be able to get closer to the true fans of South American football,” he added.

Sportradar has provided CONMEBOL with compliance and risk services through its Intelligence & Investigations unit. These include eligibility checks on senior members of the confederation and its member associations.

“We are delighted that Sportradar has been selected as the official partner who can support the most historic club tournaments in South America,” added Sportradar CEO Carsten Koerl.

“South American football has one of the most passionate fan bases in the world, and we look forward to working closely with the federation to support their engagement.”

Genius win Premier League data rights

In June, Sportradar competitor Genius announced that it had agreed an extension of its exclusive 2019 deal with Football DataCo, the business that manages the data rights for Premier League.

The agreement – in which Genius extended its official partnership until 2025 – saw the companies break new ground concerning the supplier’s data tracking product.

In 2020, Sportradar decided to take legal action against Genius, arguing that the agreement amounted to a violation of UK and EU competition laws.

The two businesses resolved the dispute in 2022, with Genius agreeing out of court to grant Sportradar a sublicence access to a delayed secondary feed.

The sale will consist of $15.0m in cash upfront, $1.0m in deferred payments and up to $38.0m in performance-based earnout payments over a three-year period.

To reach the full earn-out payments, Playmaker HQ will have to generate more than $75.0m in accumulating revenues and over $25.0m in earnings before interest, tax, depreciation and amortisation (EBITDA) during the first three years post-acquisition.

For 2023, Playmaker HQ is currently targeting full-year revenue of more than $10m, with an EBITDA margin of 20%-25%.

“A new and large audience”

Based in South Florida, the sports media company specialises in creating original entertainment and sports content, with athlete collaborations and creator talent aimed at the US market.

Better Collective believes that the acquisition will help it gain access to “a new and large audience of highly engaged generalist sports fans”. It will also use Playmaker HQ’s sponsorship sales knowledge to increase the affiliate’s monetisation of audiences outside of the sports betting realm.

The acquisition will also see Playmaker HQ’s scope expanded to a global scale, with new resources from Better Collective.

Expanding the user base

Marc Pedersen, Better Collective North America CEO, said that the acquisition will offer Better Collective to a wider audience.

“We have been following Playmaker HQ for some time, and are excited to announce the transaction today,” said Pedersen.

“Playmaker HQ offers access to millions of sports fans in the US, the majority of which are new in the Better Collective user base. We are excited to help enhance these fans’ sports betting experience, while also being able to utilise Playmaker HQ’s know-how to scale the product and revenue stream across Better Collective’s global portfolio.”

Brandon Harris, Playmaker HQ’s CEO, says that the acquisition marks a significant milestone for the company.

“We cannot wait to make plays with Better Collective’s world class team who will help us create amazing content, experiences and opportunities, reaching an even wider audience of sports fans globally,” said Harris.

“I know our creators are going to do amazing things with the support of Better Collective’s team and resources.”

The CEO went on to add that the team is “excited to align with Better Collective to help achieve our vision of building the world’s leading sports media group.”

The FSA last week published the results of its latest annual survey, collecting the views of fans from the 2022-23 season.

Of the 10,000 fans surveyed, 73% said they were concerned about the amount of gambling advertising in football.

The Big Step, a campaign aiming to end all gambling advertising in football, responded to the survey saying it shows how “unpopular” such sponsorship is with fans. 

“We don’t need a survey to show how unpopular gambling ads in football are,” The Big Step spokesperson said. “However, this poll confirms the overwhelming amount of fans don’t want the beautiful game tarnished by advertising for addictive and harmful products. 

“Across the world, both organisations and governments are ending all forms of gambling advertising. It’s time for football clubs and authorities in the UK to listen to their fans and do the same.”

Premier League shirt sponsor ban

The findings come after top division English Premier League clubs in April agreed to halt gambling sponsorship on matchday shirts.

The withdrawal of sponsorship will come into effect from the end of the 2025-26 season. Deals with operators can remain in place until then and teams can strike new partnerships, as long as they conclude ahead of the ban.

However, this has not deterred several Premier League clubs from agreeing shirt deals with gambling brands ahead of the 2023-24 season.

Last week, betting operator SBOTOP agreed to become the new main shirt sponsor of Fulham. Newly promoted Burnley also announced a one-year shirt sponsorship deal with W88.

Earlier this month, Aston Villa agreed a shirt sponsorship deal with Asia-facing operator BK8. The agreement will run to the end of the 2025-26.

However, Newcastle United chose to downgrade its deal with offshore operator Fun88. The brand had served as principal partner since the 2017-18 season.

Under the arrangement, Leo Burnett will develop campaigns for The National Lottery brand. The agency will also revamp plans for instant lottery games and improve the links between National Lottery games and Good Causes.

VCCP will oversee marketing communications for the Lotto and Set For Life games. It will also manage rollover and jackpot-specific campaigns for draw-based games. 

Allwyn said this multi-agency approach will help drive increased awareness for individual product brands. This, it said, will lead to an increased number of campaigns and maximise reach.

“We’re delighted to appoint these two leading agencies to support our vision for the National Lottery,” an Allwyn spokesperson said. “The competitiveness of the pitch process demonstrates the appeal The National Lottery holds to many people. 

“We’re looking forward to both agencies coming up with effective, compelling campaigns to further broaden that appeal, making The National Lottery even more relevant to more people in a safe and sustainable way.”

Fourth National Lottery licence 

Allwyn was awarded the fourth National Lottery licence in September last year and will assume control in February 2024. This will end Camelot’s 28-year tenure as operator.

This came after the Gambling Commission in March 2022 announced that Allwyn, previously known as Sazka, was its preferred applicant.

The announcement faced pushback from both Camelot and IGT, Camelot’s technology provider. Both companies criticised the decision and eventually challenged it in court.   

Camelot issued a legal challenge to the decision in April 2022, arguing the Commission had not been forthright in its communication. Camelot also said its employees were “owed a proper explanation” why the licence was not renewed.

This led to the High Court automatically suspending the licensing decision.

However, in September, Camelot withdrew its high court challenge. This followed reports that money for good causes could be at risk in a lengthy court case – removing Allwyn’s final obstacle in receiving the licence.

Earlier this year, Allwyn completed its acquisition of Camelot UK from the Ontario Teachers’ Pension Plan board (OTPP). 

Allwyn also finalised a deal to acquire the US-facing Camelot Lottery Solutions unit of companies from Ontario Teachers.

As a member, ComplianceOne will be able to support partners in the country and form new relationships with NOGA members. 

NOGA counts Flutter Entertainment, Entain, Kindred Group and bet365 among its members. All NOGA members hold a licence to operate in the Netherlands.

ComplianceOne opened a dedicated Dutch office in January 2022 and works with a number of major brands in the country.

Mike de Graaff, head of regulatory services and assurances at Diligence in Gaming, a ComplianceOne company, welcomed the membership.

“Joining NOGA is an important milestone as we look to further support our partners in the Netherlands,” de Graaff said.

“With the Dutch regulatory landscape continuing to evolve, membership of NOGA helps us better serve the operators and suppliers finding exciting new opportunities in the market.”

NOGA managing director Peter-Paul de Goeij added: “Building a thriving, safe and sustainable Dutch online gambling market requires world-class compliance know-how,

“I’m thrilled to welcome ComplianceOne to NOGA. The group’s expertise across both regulatory and technical compliance will be an important asset for our members.”

Advertising ban

The membership comes after the Dutch government implemented a ban on most forms of gambling advertising.

On 1 July, the Netherlands implemented a ban on gambling ads through most media channels including on television, in radio and in print. 

The rules also prohibit advertising in public places. This extends to billboards, bus shelters and cafes, as well as within gaming venues themselves such as casinos and slot parlours.

Gambling sponsorship of events and clubs will also be halted under a phased rollout. From 1 July 2024 sponsoring events and programmes will be prohibited, while sponsorship of venues and clubs will end from 2025. The new rules also impose new restrictions on affiliate advertising.

Targeted advertising will be permitted in some contexts. This means that ads within on-demand streaming services, social media, through direct mail and online gaming environments will be permitted.

James will depart Light & Wonder to pursue another opportunities outside the gambling industry. She will step down with effect from 25 August.

Oliver Chow, senior vice president of corporate finance at Light & Wonder, will become interim CFO upon James’ departure. He will serve in the role until a permanent replacement is appointed.

Light & Wonder has already commenced a search to identify and appoint a new CFO.

Cultural and financial transformation

James joined Light & Wonder in 2020 when the business was known as Scientific Games. She was CFO of Scientific Games and retained this role following the rebrand last year.

Prior to this, James had a short spell at food corporation Cargill after more than nine years at Aristocrat. While at the gambling business, she held senior roles including CFO for land-based gaming.

Earlier in her career, she also spent time working at Deloitte Australia. 

Light & Wonder chief executive Matt Wilson paid tribute to James and the part she played in the company’s transformation.

“Connie has played a key role in advancing Light & Wonder’s cultural and financial transformation, which has led to operational excellence, double-digit growth and a strengthened balance sheet,” Wilson said.

“She also helped us build a deep and talented finance team that will help provide a smooth transition to the next chapter of financial leadership within the company. On behalf of the board and management team, I wish her well in her future endeavours.”

James added: “Serving alongside such a talented team has been a highlight of my career, and I am very proud of what we’ve accomplished together. We have scaled our business, evolved our capital allocation strategy and driven considerable efficiencies that have created a stronger, more flexible Light & Wonder. 

“I’m confident Light & Wonder is well-positioned for continued success and focused on ensuring a seamless transition.”

“Continued execution of our financial priorities”

Chow joined Light & Wonder in October 2022 after also working at Aristocrat for five years. At Aristocrat, he spent time as CFO for Americas, EMEA and customer experience, as well as VP of commercial finance.

Prior to this, he was senior director of finance at Universal Pictures and VP of finance for Deluxe Entertainment Services. Chow also held several finance roles at JPMorgan Chase.

“We are pleased and fortunate to have a leader of Oliver’s calibre step into the role of interim CFO,” Wilson said. “He brings more than 15 years of entertainment and gaming leadership experience and deep financial expertise.

“We’re confident Oliver is well-positioned to support the continued execution of our financial priorities while the board conducts its search.”

Reaffirming financial targets

Light & Wonder used the announcement of James’s departure to reiterate certain financial targets. This comes ahead of the business publishing its second quarter results in August.

The business remains on track to achieve adjusted earnings before interest, tax, depreciation and amortisation of $1.40bn by 2025.

This declaration followed a successful first quarter during which Light & Wonder reported a 17.1% year-on-year increase in revenue. This, Light & Wonder said, was helped by record performances by its igaming and SciPlay social gaming businesses.

The group experienced double-digit growth across all its business segments during the three months to 31 March. 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. This was $477m from services and $193m product sales.

Gaming revenue increased 18% to $419m. Gaming operations revenue edged up to $160m, gaming services revenue climbed 8% to $55m and table products revenue was level at $46m.

Revenue from the SciPlay business jumped 18% to $186m, the highest-ever quarterly figure from this segment. Igaming revenue was up 10% year-on-year to $65m, helped by growth in the US market.

SciPlay acquisition proposal

In the weeks that followed, Light & Wonder announced a proposal to acquire the remaining public shares in SciPlay for approximately $422m. 

The group currently holds 83% of the economic interest in the 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%. This was 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.

The seven new clinics come in the face of “record demand” for NHS gambling services. The NHS said that the new clinics will be based in Milton Keynes, Thurrock, Bristol, Derby, Blackpool, Liverpool and Sheffield. The clinics are planned in addition to the eight existing centres.

The announcement comes as the NHS published new figures showing that the number of patients referred to help has risen precipitously in recent years.

According to the data, 1,389 individuals were referred for help last year, a more than 30% increase from the previous 12 months. This itself represented a more than 80% rise from two-years ago.

“Record numbers of people are coming to the NHS for help to treat their gambling addiction, a cruel disease which has the power to destroy people’s lives,” said Pritchard.

“Adapting to new healthcare needs”

The NHS executive made the announcement ahead of the organisation’s 75th birthday on 5 July. Pritchard said that the move demonstrated the NHS was “adapting to new healthcare needs”.

“In 1948 when the NHS was founded, you had to go to a bookies to place a bet, but now people can gamble on their phone at the touch of a button and everyone, young and old, is bombarded with adverts encouraging them to take part.”

“As it has done since 1948, the NHS is responding at speed and rolling out seven new gambling harms clinics across England, so that even more people can be supported by the NHS in their time of need.”

The country’s existing gambling-harms clinics currently see patients in Leeds, Newcastle, Manchester, Southampton, Stoke-on-Trent, Telford and London. This is on top of an additional national clinic, also based in London, which treats children and young people.

NHS gambling addiction clinics

The clinics treat people will serious addiction issues through a mix of cognitive behavioural therapy, family therapy, support groups and aftercare. The NHS teams at the centres will include psychologists, therapists, psychiatrists, mental health nurses, as well as peer support workers.

The NHS said it plans to treat up to 3,000 patients nationwide across its network of 15 clinics, which it characterised as fulfilling its Long Term Plan commitment six months ahead of schedule.

In addition to the new clinics, the UK is currently engaged in the process of updating its gambling laws. After a number of delays, the government recently published a white paper which lays out several recommendations about how the country’s gambling laws should be “updated for the digital age”.

NHS mental health director Claire Murdoch said: “Addiction is a cruel disease that can take over and ruin lives, whether it be destroying finances or ruining relationships, but the NHS is here to help, so if you or someone you know is struggling with gambling addiction please come forward.

“Although progress has been made on clamping down on this billion-pound industry with the government’s white paper, I hope further action can be taken to protect our young people and future generations from being bombarded by gambling advertisement while watching sport.”

Murdoch has long been a critic of the gambling industry. In January 2020, she sent a series of letters to the chiefs of the UK’s largest gaming operators about the link between gambling and mental health.

Number of problem gamblers

The NHS highlighted Gambling Commission stats which indicate that around 138,000 people suffer from problem gambling in England, or 0.3% of the population. There is some dispute about the accuracy of these figures, with some sources such as YouGov polling showing that the number could be as much as 2.8 million.

The NHS’s own recently released 2021 Health Survey for England recorded a fall in problem gambling rate to 0.4%, above what the Commission recorded for the year.

As a result, the Commission is currently involved in the process of reforming its harms survey methodology, with the latest milestone of project completed in April.     

NHS backs statutory levy

Among other proposals, the gambling white paper included the imposition of a statutory levy on the profits of the gambling sector to fund research, education and treatment services. The measure would replace the sector’s current voluntary contributions.  

While rumoured to be set at 1% of revenue prior to release of the document, the department of Culture, Media and Sport opted not to commit to a specific number. Instead it opted to allow the final figure to be decided in a consultation between the government and industry at a later date.

Last month, the NHS came out in support of the measure. NHS England’s National Clinical Advisor on gambling harms Henrietta Bowden-Jones emphasised that the levy would help ensure independent funding for programmes,

“We have taken firm action to tackle gambling-related harms through our white paper, which includes our commitment to introduce a statutory levy so gambling companies pay their fair share towards the costs of treatment services,” said public health minister Neil O’ Brien.