The monthly handle was 4.5% ahead of $512.9m in April 2022 but 16.9% less than $644.8m in March of this year.
Of this total, $531.2m was spent betting on sports online, while just $3.7m was wagered at retail sportsbooks across the state.
Consumers won $486.5m from betting, leaving $48.0m in adjusted gross event wagering revenue before free bets. This was 64.4% ahead of $29.2m last year but 10.1% behind $53.4m in March this year.
The charges were handed down against Jordan Meadow, a representative for a broker dealer based in New York, and Steven Teixeira, chief compliance officer for a payment processing company.
Specifically, both are accused of breaching the antifraud provisions of federal securities laws.
Sega Sammy’s acquisition – which is worth $706.0m – was announced in April. It commenced in May, with the initial deadline set for 4pm Eastern European Time today (3 July).
Sega Sammy said it had extended the deadline because certain conditions had not been fulfilled. For deals of this nature to close, businesses must obtain certain regulatory approvals by competition authorities or regulatory authorities.
While the company said some regulatory approvals had been granted – such as that from the United States’ competition authority – approval processes from competition authorities are still in progress.
Due to this the deadline was extended to August.
Sega Sammy noted that other potential extensions are available. However, it added that the offer is still expected to be completed in Q2 2024.
The completion of the deal will see Sega Sammy purchase all outstanding shares and options from Rovio. This will be at €9.25 per share and €1.48 per option.
When the deal was first announced, Haruki Satomi, president and group chief executive of Sega Sammy, said that acquiring Rovio would be beneficial due to Rovio’s assets.
“I feel blessed to be able to announce such a transaction with Rovio, the company that owns Angry Birds, which is loved across the world, and home to many skilled employees that support the company’s industry leading mobile game development and operating capabilities,” he said.
Prior to Sega Sammy’s offer, in January, Playtika submitted a bid to acquire Rovio for €9.05 per share. Playtika exited these talks in March.
On 26 June, the Philippines National Police’s Anti Cybercrime Group (PNP-ACG) raided Philippines offshore gaming operator (Pogo) Xinchuang’s premises after a month long surveillance operation.
The unit’s director Brigadier General Sidney Hernia said that the organisation decided to infiltrate the Las Piñas City-based offshore operator after receiving information of alleged criminal activity happening at the site.
Among other criminal acts, the authorities said that they are now in possession of evidence linking the company to incidents of human trafficking, cryptocurrency and love scams. Following the raid, the police booked five Chinese nationals on human trafficking charges.
Historically, human trafficking has been an endemic problem for offshore operators. Since Pogo targets foreign consumers, principally in mainland China, language abilities are particularly prized by traffickers.
The police said that they rescued over 2,500 people in the raid suspected of being victims of trafficking. This included 1,534 Filipinos and over 1,000 foreign nationals from countries such as China, Thailand, Malaysia and Singapore.
After the raid, the police sent the foreign nationals back to their respective embassies.
“We condemn all criminal activities that violate Philippine laws and human rights – regardless of nationality,” said Pagcor chairman and CEO Alejandro Tengco.
“As we have always said before, Pagcor will not hesitate to impose sanctions on erring licensees and accredited service providers. Similarly, we will continue to cooperate with our partner law enforcement agencies to ensure that responsible and regulated gaming is observed,” he said.
The police seized a number of computer units, SIM cards, mobile phones and passports in the raid which will all be the subject of a forensic investigation.
Following the raid, Pagcor presented the business with a show cause order. In its response to this notice, the Las Piñas City-based offshore operator will be expected to defend itself against the allegations levelled against it and to explain why it is that the regulator should not cancel its licence.
In addition to the notice, Pagcor ordered the business to cease all offshore gaming activities prior to the completion of an ongoing investigation by the PNP.
The raid is just the latest in a string by the Filipino authorities.
In May, the police raided the offices of gaming service provider CGC Technologies, which is accused of several serious offenses including credit card fraud and human trafficking.
In June, a number of Filipino state agencies joined the newly founded Clark Security Advisory Council to better coordinate work combating illicit Pogo activities.
In his new role, Sucharov will oversee the introduction and optimisation of Citizen’s account-to-account payment solution with businesses.
Sucharov joins was most recently served as head of UK innovation and technical revenue assurance for Sentinel at Playtech. He also spent time as head of games platform at GPAS.
Prior to this, Sucharov founded and ran Corosin Ltd and also worked as an IT consultant.
In addition, he spent over five years with Erudine, which delivers operational solutions to the finance sector.
“Citizen has a very solid product that offers huge benefits to many industries,” Sucharov said. “I’m excited to help it through the accelerator phase of its growth. It is a company that is poised to cross the chasm.
“Coming from an igaming background, from the moment I saw the technology of Citizen’s payment solution I understood its potential.
The appointment follows a number of recent senior hires at Citizen, including Sarah Ahle as head of compliance.
Citizen co-founder and chief executive James Neville said: “As Citizen gears up for more growth as we enter the second half of 2023, it is vital that we have the best leadership team in place to support and drive the business forward.
“Toby brings a great wealth of experience from the igaming sector and in scaling-up technology solutions. We look forward to working with him on our mission to simplify the way we pay by leveraging innovations in alternative payment methods.”
The vote took place at an extraordinary general meeting today (30 June). Some 99.16% of voters approved the sale and 0.84% voted against.
PointsBet’s board had already unanimously approved the sale agreement and recommended shareholders also vote in favour of the proposition.
Shareholder approval will allow the sale process to move to the next stage. However, neither PointsBet nor FBG have set a completion date for the deal.
A division of sports retail giant Fanatics, FBG tabled an improved proposal worth $225.0m (£178.2m/€207.0m) earlier this week.
FBG had already reached an agreement with PointsBet to acquire its US business In May for $150.0m
However, earlier this month, DraftKings had submitted a higher proposal worth $195.0m. PointsBet said it would engage with DraftKings over what it said could be a “superior” proposal.
Upon confirmation of the improved FBG offer, DraftKings announced that it would no longer pursue a deal to acquire PointsBet US.
Responding to new of the vote, FBG said it was “thrilled” shareholders had opted to back the proposal.
In a statement issued to iGB, an FBG spokesperson described it as a “pivotal” moment for the business.
“We moved decisively to close the deal and we look forward to working with our friends at PointsBet to finalise the remaining acquisition details,” the spokesperson said. “This is a pivotal moment for FBG that will accelerate our growth in the legal online sports betting, advance deposit wagering and igaming markets in the US.
“Pending regulatory approvals in the various states in which PointsBet operates, we will have more details to share in the coming weeks on how the acquisition of PointsBet US businesses will bring to life our unique vision for FBG.”
Ahead of today’s vote, PointsBet chairman Brett Paton addressed shareholders about why the decision to sell the US business.
Paton said that while PointsBet had experienced strategic success in the US, the costs of competing against major brands meant the business would not be cash flow positive in the near term.
“Continuing to operate the US business would require significant capital and further capital raises,” Paton said. “This transaction addresses that uncertainty.
Having said that, many of the largest established brands with substantial databases have also struggled. One has spent around US$2.5bn on their online aspirations after starting with a strong brand and database and have only achieved mid-single digit market share. Other big spending online operators have gained less traction. Many have closed.
“In the US, PointsBet has generally flexed all of our competitive strengths as a challenger business. In particular, we have used our technology to deliver a leading sports betting product experience. But our ability to get to scale and operate at sustainable scale was challenged.
“We have been competing in a very high-cost operating market with the overlay of capital pressures to continue funding the business through to profitability.”
Paton noted PointsBet would continue to have a presence in North America. The proposed sale agreement means PointsBet would retain both its Canadian and Australian businesses.
In addition, PointsBet will retain ownership of its proprietary sports wagering and igaming platform. This is currently used in both the Australian and North American markets.
“We will be granted a perpetual, royalty-free licence to use and further develop the Banach technology assets- including the underlying source code driving OddsFactory,” Paton said.
“This will give us options in the future to exploit PointsBet’s proprietary sports wagering and igaming platform in other regions outside of the US and in the US beginning 18 months after completion of the proposed sale.
“To summarise, the board believes that the proposed sale of the US business delivers the most attractive risk-adjusted value outcome for shareholders, compared to the risks and benefits of PointsBet pursuing other potential options including the status quo.”
Glitnor will pay the administrative penalty following the outcome of a 2019 compliance review, which found the business in breach of 10 provisions of Malta’s Prevention of Money Laundering and Funding of Terrorism Regulations (PMLFTR).
“The committee was particularly concerned with the company’s issues when it comes to ascertaining that the gaming activity entertained by it was in line with the customers’ funding abilities,” said the FIAU.
“Furthermore, the company’s inability, at times, to at least cross-check the players’ gaming activity against basic information on the employment and the inability to manage heightened risks of certain customers serviced by it was also a cause of concern for the committee.”
The body said that the company’s policies and procedures at the time of the compliance examination were “missing, incomplete or inaccurate”. As a result, the FIAU took aim at Glitnor’s failure to develop a customer business and risk profile.
The regulator also criticised Glitnor’s customer risk assessment policies and lack of due diligence. It highlighted one case in which a 30-year old player from a non-EU jurisdiction deposited €12,100 via pre-paid cards without withdrawing any winnings.
Despite the high volume of deposits made during a short time span, Glitnor did not conduct any enhanced checks on the individuals, request any source of funds documentation or employment details.
Additionally, the FIAU hit out at the operator for inadequate transaction monitoring. While Glitnor had put into a place a system of alerts to monitor player transactions, the financial monitoring body argued that they were insufficient.
“The committee also considered the company’s size, that this is not a large gaming institution, as well as the impact that the subject person’s failures may have had on both its operations and on the local jurisdiction,” added the financial monitoring body.
“However, overall the committee couldn’t but note that, at least up until the compliance review, the failures observed confirm that the company has not given due regard towards its AML/CFT obligations.”
In short statement provided to iGB Glitnor Group said it and its legal advisors disagree with the FIAU’s findings and will be exercising its right to appeal.
Isaiah Rodgers and Rashod Berry, both of the Indianapolis Colts, were suspended until at least the end of the 2023 season. Free agent Demetrius Taylor was also banned for the entire 2023 campaign.
All three players were found to have placed wagers on NFL games during the 2022 season. They can petition for reinstatement at the end of the upcoming 2023 campaign.
Meanwhile, Nicholas Petit-Frere of the Tennessee Titans was handed a six-game suspension for betting on non-NFL sports at the club facility.
Under the deal, FanDuel will become the league’s first authorised gaming operator and an official sportsbook partner.
Consumers in Ontario will be able to place bets on the CFL through FanDuel. The operator secured a license in the province ahead of it launching its legal sports betting market last April.
Betting market include in-game player props, such as anytime touchdown scorer, and a range of various futures bets.
From July this year, SZTFH will limit deposits and withdrawals from bank accounts that engage in illegal gambling on unlicensed websites.
In turn, Hungarian banks will refuse card payments that are made to unlicensed sites, also from July onwards.
SZTFH said that any winnings gained while gambling on illegal sites may not be paid to customers after the restrictions come into place.
In April, SZTFH fined a private, unnamed individual HUF30m (£70,000/$87,000/€79,000) for organising a real estate lottery. Lotteries with prizes such as real estate cannot be legally organised by businesses or private individuals.
In March SZTFH implemented technical measures in response to amendments in its Gambling Act. Under the amendments, customers can now have balances with multiple operators, and players can now cash out early if the game they are participating in allows it.
