Bet365 owner Coates slips to third in top UK taxpayer list

Published each year by The Times newspaper, the Tax List features the top 100 UK taxpayers. Those on this year’s list paid a collective £5.35bn (€6.27bn/$6.81bn) in tax during 2023.

The Coates family, including Denise, John and Peter Coates – Bet365’s co-chief executives and chairman – paid £375.9m in tax. This was down from the £460.2m that was reported in the 2023 list.

Denise Coates is the richest self-made woman in the UK, launching Bet365 from a car park in Stoke-on-Trent. The Times said Coates last year paid herself a total of £220.0m.

As for Betfred, Fred and Peter Done paid £204.6m in tax, up from £136.8m in 2023. This was enough to push them up to fourth in the list, albeit some way behind the Coates family in third.

Fred and Peter Done are the sons of an illegal bookmaker that went legit by launching Betfred in 1967.

XTX Markets founder retains top taxpayer spot

For the second consecutive year, XTX Markets founder Alex Gerko topped the Times’ Tax List. In total, he paid £664.5m, up from £487.4m in 2022 after almost doubling his net worth in a year.

Formula 1 tycoon Bernie Ecclestone took second spot with £652.6m in tax. However, this was not a true reflection of his activity in 2023, having been forced to pay £650.0m in tax and penalties to HMRC to avoid jail. Ecclestone failed to declare more than £400.0m held in a Singapore trust when asked by authorities in 2015.

As for the rest of the top 10, Sir Tim Martin, founder of pub chain Wetherspoons, was fifth with £167.1m in tax. Dyson founder Sir James Dyson was sixth on £156.0m and the Weston family, which is behind Primark and Fortnum and Mason, placed seventh with £146.2m.

Sports Direct founder Mike Ashley ranked eighth with £139.4m and Triumph Motorcycles head John Bloor was ninth with £118.1m. Cobbler tycoon John Timpson rounded off the top 10 with £99.8m tax paid.

Bet365 posts £61.2m loss despite revenue growth

Bet365’s inclusion in the list comes after the operator reported a £61.2m loss for 2022-23. This was despite it also posting an increase in sports betting and gaming revenue.

The loss comes in contrast to a £42.8m profit posted in the previous year. Bet365 put the loss down to an increase in costs across the business.

However, it was not all bad news. Sports betting and gaming revenue for the year climbed 18.9% to £3.39bn. This included a 15.0% rise in sports betting revenue and a 31% hike in gaming revenue in 2022-23.

Alongside this, there was also a 29% rise in new customers, although this was lower than the previous year’s 48% increase.

Betfred is yet to report results for 2022-23. Its most recent figures cover 2021-22 and show a 38.8% rise in gross profit to £542.9m.

The total amount wagered with Betfred for the year was £8.80bn, rising by 25.8% year-on-year. Net profit for the year was £19.5m, a rise of £14.3m from 2021.

Online sports betting bills filed in Mississippi

Sports betting was legalised in Mississippi in 2018, following the repeal of the 1992 Professional and Amateur Sports Protection Act (PASPA). However, the only online sports betting currently available is through geofenced sportsbooks on land-based casino properties.

Bill HB271, filed by Rep Cedric Burnett, and Bill HB635, introduced by Rep Jay McKnight, are both bidding to change that, allowing bettors to wager on sports through their mobile devices in the state regardless of whether they are in a casino.

This latest attempt to introduce online sports betting in the state is the sixth, with House Bill 606 signed into law last year. The bill authorised a Mississippi sports betting task force to “undertake a comprehensive analysis” of sports betting in the state.

The bill was initially far more expansive, aiming to allow all of the state’s land-based casinos to partner with an online sportsbook. However, its reach was significantly cut down in committee.

Of the four states bordering Mississippi, Alabama is the only one to have also not yet legalised online sports betting. Tennessee launched online sports betting in 2020, while Arkansas and Louisiana both legalised it in 2022.

Mississippi’s shrinking sports betting market

The introduction of online wagering would be a welcome boost to Mississippi’s sports betting market, which endured a disappointing end to 2023.

Mississippi’s December handle amounted to $48.9m (£38.6m/€44.9m), down 34.3% from $74.4m in in December of 2022. This was also 21.6% lower than the $62.4m spent in November 2023.

Revenue, meanwhile, reached $4.9m, 56.6% lower than in December 2022. However, that revenue total was 58.1% ahead of the previous month’s haul. Win percentage for the month was 10%.

Coastal casinos remain the venue of choice for players in Mississippi, processing $31.6m in bets and accumulating $2.4m in revenue. American football was the leading sport, with $14.5m of wagers placed on it, while basketball was second with $7.7m.

Games Global kickstarts 2024 with €3.7m WowPot! win

Games Global, a leading supplier of online gaming content, has seen its legendary WowPot! progressive jackpot pay out for the first time in 2024, awarding €3.7m* to a player at NineCasino. 

The grand total, amounting to €3,760,840.37*, was triggered on Fortune Factory Studios’ Wolf Blaze WowPot! Megaways at Softswiss-powered NineCasino on 14 January. 

This latest jackpot drop comes less than a month after WowPot! paid out a jaw-dropping €38.4m* win, smashing the previous record for the largest online slot jackpot of €19.4m set by fellow Games Global jackpot Mega Moolah in 2021.

Released in April 2023, Wolf Blaze WowPot! Megaways has delighted players with its winning combination of the iconic Megaways mechanic, offering 117,649 ways to win, and Games Global’s WowPot! jackpot, making for truly amplified gameplay.

Games Global’s long-established network continues to lead the way in the jackpot space, paying out many of the industry’s largest sums in history and hitting more frequently than any other offering, with a win struck every 10 seconds on average in 2023.

Since its inception in 2020, the WowPot! jackpot has paid out more than €231m* to players around the world.

Andy Booth, chief product officer at Games Global, said: “There is nothing more satisfying than seeing our record-breaking network jackpots drop, especially when those wins come so close to one another. This highlights the fantastic potential of our offering and cements our position as a leading provider of progressive jackpot content. Congratulations to both the player and Fortune Factory Studios, whose game the jackpot was won on.”

Sinead Benson, business development manager at Fortune Factory Studios, added: “Everyone at Fortune Factory Studios is delighted that Wolf Blaze WowPot! Megaways has become the latest game to award a multimillion-euro WowPot! jackpot. This is the sort of thing we all hope for when creating exciting content and we are thrilled to be a part of the WowPot! story.”

Tatyana Kaminskaya, head of Softswiss Game Aggregator, commented: “At Softswiss, we are thrilled about this win, highlighting the igaming industry’s fairness and accessibility. This milestone reflects our dedication to creating a transparent and secure gaming environment through our software. Congratulations to the lucky winner – we are pleased to join your celebration.”

*Euro currency equivalent

Cymerman becomes CCO of Entain CEE and takes STS advisory role

Cymerman confirmed the news in a LinkedIn post, saying he will combine his two new roles at Entain and STS.

He takes on the senior position at Entain CEE after a spell as head of corporate development for the regional division. Cymerman was also previously business development manager and commercial manager at Entain.

Prior to this, he was a sales executive at IMG Media and spent time in similar roles during 20 months with Decade Sports.

“It’s been a busy and exciting start to the year, and I’m pumped to announce double news,” Cymerman said. “Can’t wait to keep the momentum going with STS and SuperSport team.”

Entain’s expanding business in CEE

STS now operates as part of Entain after being acquired by the latter in a deal worth £750m (€879m/$955m) in 2023. The agreement was stuck in June of last year and completed a few months later in August.

Last month, several management changes were announced at STS. Radim Haluza became chief executive, while also remaining CEO of Entain CEE. Long-serving STS chief executive Mateusz Juroszek switched from that role to become chairman of the supervisory board.

Central and Eastern Europe-facing Entain CEE was created in 2022 to make acquisitions across the region. Entain has a 75% stake in Entain CEE, while Emma Capital holds the remaining 25% stake.

STS marked Entain’s second acquisition in the CEE market in the space of 12 month. Entain also acquired a 75% stake in Croatian market leader SuperSport for €690m in August 2022. At the time, Entain said this would be the first of many acquisitions in the CEE region.

Speaking to iGB last August, Cymerman said the STS was just the first step for Entain CEE. 

Casino dashboard: January 2024

It’s time for our review of the most popular casino games at the end of 2023 plus, of course, our much-coveted top Christmas title.

This year the tree is adorned with 11 Pragmatic Play baubles – they ‘only’ had 9 this time last year: four lucky fish, three sweet treats, two wolves or dogs and the best Gates of Olympus. Games Global is giving them a festive bang for their Rudolf as 9 Pots are joined by two Gold Blitz games in the top 20.

Top 20 games by distribution

More on the big movers and shakers that sleighed it last year in our big casino review of 2023, which will be published in a few weeks. Stay tuned as it will also delve into game production, studio performance, market share changes and the latest game feature trends.

Now let’s unwrap those Christmas themed bangers before our tacit rant on the state of some recent compliance rulings…

The Christmas Chart 2023

Here are the top 20 new Christmas-themed casino games, limited as per last year (and our Halloween/Easter charts) to the top title per studio. Games are ranked by distribution across all pages of 3,000 operators globally.

Overall, we considered 523 Christmas titles, of which 141 were launched this year. A bumper festival again, compared with the 111 releases in 2022 and 98 the year before. For Pragmatic Play, it’s their 2021 Big Bass Christmas that tops the chart and Invading Vegas released this year from Play’n GO. But it’s not just the usual suspects as Booming Games, Relax Gaming and Endorphina also make the cut.

A third of our Christmas performers were new releases, thus back catalogues made up the majority as per last year. Our second chart below looks exclusively at the new Christmas-themed games, where the 6 from above are joined by some fresh gifts.

It’s heartening to see some new names such as SpinPlay Games and Max Win Gaming alongside old favourites such as Greentube and Inspired Entertainment.

The most prolific developer of Christmas slots is still Spinomenal. Their product pipelines are well aligned with the calendar, launching both new seasonal titles and variations of existing games. Games Global is also well represented, whilst Wazdan doubled down on its Christmas Editions strategy, taking it into third spot.

There’s plenty of diversity within the Christmas theme itself, from Rock Stars to Aliens. This year’s special mention goes to Nolimit City for treating us to a twisted take on traditions with their Jingle Balls. For this studio, it’s an unusually upbeat, yet irreverent title and one that doesn’t stray too far from their dark side.

A cigar-toting grinch and stoned elf look on as pervy Santa’s jingle balls are at the mercy of granny witch’s sharp fingernails. A border of Gulag barbed wire is, of course, added for good measure.

It certainly won’t fall foul of some bizarre rulings against images that ‘may appeal to minors’, which, if rigorously applied to all Christmas games and promotions, would leave our gaming and offers pages pretty bare. No need for a rant on this topic as ‘tis the season of goodwill, so perhaps a picture can tell a thousand words.

Dealmaking was extremely quiet before Christmas with many companies keeping their powder dry for ICE in February 2024. Pateplay remains the busiest studio and EveryMatrix is the busiest aggregator.

Wishing you a belated Happy New Year and don’t forget to look out for the Casino Review 2023.

Biggest aggregator dealmakers

Biggest studio dealmakers

* Please note these are live charts that update every month so please ensure the month of December 2023 is selected in the dropdowns to match the analysis.

**The interactive games chart at the top excludes live games and table games. Game rankings are determined by the number of game appearances on the casino homepages of more than 3,000 casino sites. To access many other charts including game rankings, live and table games, positions on subpages or to filter game performance by game theme, game feature, market, or operator, please get in touch with our partner, egamingmonitor.com. Egamingmonitor covers 59,000 games, 1,600 suppliers and 3,000+ operators. 

***Data on deals by month was collected from April 2020 onwards and the rolling chart reflects current dealmaking performance, i.e. how many deals were signed over the last 6 months. Note that only deals either a) on company websites or b) in the gaming press or c) reported to us by studios and aggregators, are collated. Deals between studios & aggregators (and aggregators & operators) from all time are available via egamingmonitor.com.

New Hampshire sports betting market declines year-on-year in December

Handle for December amounted to $78.8m (£61.7m/€72.1m). This was 13.3% lower than $90.9m in December 2022 but 0.4% ahead of $78.5m in New Hampshire in November of 2023.

Players wagered a total of $67.0m online in December and $11.7m at retail sportsbooks across the state.

In terms of gross gaming revenue, this stood at $7.7m for the month. Revenue was 7.2% down from $8.3m in the previous year and 6.1% less than $8.2m in November.

Breaking this down, online sports betting accounted for $6.7m of all revenue in December. The remaining $972,039 came from retail wagering. 

All online bets in New Hampshire are placed through DraftKings, which has exclusive rights to sports wagering in the state. DraftKings secured these rights back in November 2019.

As for tax, the state collected $3.4m from sports betting activities. Of this total, $2.9m was from online wagering and $437,417 retail.

H1 handle reaches $377.6m in New Hampshire.

December marked the half-way point of the state’s 2023-24 financial year. For the six-month period to the end of December, handle in New Hampshire amounted to $377.6m.

Of all bets placed in H1, $328.1m were online. As for revenue, this reached $37.7m in the same six-month period. Online betting generated $33.5m in revenue and retail $4.2m.

In terms of tax, this amounted to $16.5m, some $14.6m of which came from online activities and $1.9m land-based sportsbooks.

Sands confident of further Macao growth as 2023 revenue hits $10.38bn

Growth was apparent across both Macao and Singapore for Sands in 2023. However, it was the former that reported the most growth, with revenue rocketing 303.1% to $6.56bn.

Throughout 2023, Sands continued to highlight the extent of growth in Macao. This came in the wake of all remaining Covid-19 measures being dropped in the region. As such, players were able to come and go as they pleased, while casinos were not hindered by capacity limits.

Looking ahead, Sands CEO and chairman Rob Goldstein said the operator is of the view that the Macao market will continue to grow. He referenced wider forecasts that the market could hit a value as high as $40.00bn.

“It’s only been one year since the end of Covid in Macao,” Goldstein said. “We began in Q1 with $400.0m of EBITDA. In Q2, we did $540.0m, and Q3 we did $630.0m, the growth just keeps coming. We look forward to continued growth in both gaming and non-gaming revenue, which will lift in our market.

“There is an ongoing speculation of the future growth of Macao. Can Macao market grow to $30.00bn, $35.00bn, even $40.00bn and beyond? We believe that it will. This underscores our confidence in the returns that we generated by capital investment programs in our portfolio.”

Goldstein also referenced the ongoing $1.20bn reinvestment programme at its Londoner site in Macao. He said this will help drive further growth in the region. 

“Sands China continues to own the largest share of non-rolling table win, rolling table win and slot ETG win. Most importantly, we have the largest share of EBITDA in Macao market by a wide margin. We believe the completed Londoner will need and perhaps even exceed the earning power of the nation.”

Macao revenue hits $6.56bn in 2024 

Breaking down Sands’ performance in the full year, of the $10.37bn revenue posted, some $7.52bn came from gaming operations. A further $1.20bn was attributed to rooms, $584m food and beverage, $767m mall, and $295m convention retail and other.

Revenue from Macao operations amounted to $6.56bn, up from $1.63bn in the previous year. The stand-out venue in the region was the Venetian Macao, where revenue hiked 293.3% to $2.68bn. Meanwhile, revenue at the Londoner was 412.0% higher at $1.79bn.

Turning to Singapore and revenue was up 53.0% to $3.95bn. All revenue in Singapore came from the Marina Bay Sands venue in the city centre. Sands also noted $224.0m in inter-company royalties for the year.

Net profit down despite revenue growth at Sands

In terms of spending, total operating expenses were 64.4% higher at $8.06bn. This was driven by an 85.2% jump in resort operation costs, with Macao now fully open again.

A further $818m was noted in interest expense, only slightly offset by $288m in interest income. This left a pre-tax profit of $1.78bn from continuing operations, in contrast to a $1.39bn loss in 2022.

Sands paid $344m in tax, which resulted in a $1.43bn net profit, compared to the previous year’s $1.54bn loss.

However, there were other factors that impacted year-on-year bottom line comparisons. In 2022, Sands noted a $2.86bn gain on the disposal of discontinued operations. There was also a $475m gain on non-controlling assets.

For 2023, Sands made no such disposal, and it posted a $210m loss from non-controlling assets. This pushed net profit down slightly to $1.22bn, with this being 33.4% lower than in 2022.

Despite this, adjusted property EBITDA for the full year was 458.1% higher at $4.09bn.

Revenue tops $2.92bn in Q4 

In terms of the final quarter of the year, figures for Q4 follow a same pattern as the full year.

Revenue was 161.0% higher at $2.92bn. Casino revenue reached $2.11bn, rooms $323m, food and beverage $161m, mall $232m and convention retail and other $88m.

Q4 Macao revenue hiked 319.6% to $1.86bn and Singapore revenue increased by 55.6% to $1.06bn.

Cost-wise, operating expenses jumped 71.9% to $2.21bn, while after accounting for other, finance costs, pre-tax profit from continuing operations was $592m, compared to a $287m loss in 2022.

Sands paid $123m in tax, leaving a net profit of $469m, a significant improvement on the $269m loss in Q4 of the previous year.

After also accounting for an $87m loss from non-controlling interests, bottom line net profit in Q4 reached $382m. This was again better than the previous year’s $169m loss, shortened by $105m in income from non-controlling interests.

“We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macao and Singapore,” Goldstein said.

“We remain deeply enthusiastic about our opportunities for growth in both Macao and Singapore in the years ahead.”

New York plans advance for Sands

Away from its core Asian market, Goldstein also referenced expansion plans for Sands in the US. This time last year, Sands set out proposal to open a new land-based casino in the state, just days after an application process for new licences opened.  

Goldstein referenced this in an investor call held after the results were posted. He said that should Sands secure the licence, it intends to begin work on the new $6.00bn facility straight away.

“We’re receiving strong local support,” Goldstein said. “The cost of the building will be in the $6.00bn range, which enables us to develop a true five-star resort with unlimited people. 

“This is a massive opportunity. We are very enthused about the prospect. Our bid is compelling. If we receive the licence, we’d be in the ground as quickly as possible.”

Could Sands also target Texas?

Aside from New York, there is talk of Sands exploring options in Texas. While gambling has not yet been legalised in the state, chief operating officer Patrick Dumont said that there is potential for Sands to open a casino.

Incidentally, Miriam Adelson, widow of Sands founder Sheldon Adelson, in November sold $2.00bn of stock in the business to help fund the purchase of a majority interest in the Dallas Mavericks. The NBA team is also based in Texas.

“In terms of Texas, I think the most important thing is that Sands is actively trying to facilitate the development of integrated resorts in Texas and through the liberalisation of gaming,” Dumont said.

“We are very excited about it. We think it’s an unbelievable market. Over time, we hope that it happens. I can’t tell you when it’s going to be, but we’re very focused on it as a company and we like the opportunity to develop some very unique tourism assets, specifically in Dallas. 

“We think that’s a great market. We’ve been very focused on it. And we think the opportunity there would be a great one.”

Changing of the guard in China

Meanwhile, Sands has announced a series of changes to the leadership team at Sands China.

Goldstein will step down as CEO but remain chair of the board and be redesignated as a non-executive director. 

Wong Ying Wai becomes executive vice-chairman and Chum Kwan Lock CEO. Sun Min Qi will move to the role of executive vice-president and chief financial officer, Dylan Williams executive vice-president, general counsel and company secretary.

Crash Games: Flying high in 2024?

Crash games have mostly flown under the radar for the last few years.

That’s all changing quickly however, with the vertical already being touted as one of casino’s biggest growth opportunities.

In our two-part feature, we’ll talk to the industry’s first crash games pioneer, SPRIBE, and what the founding vision was – as well as talking to BetGames, Aviatrix and 1X2 Network to see if this is a trend that’s really starting to take off.

Starting with SPRIBE

Crash games first debuted on the market in 2018 with the launch of SPRIBE’s now-seminal Aviator.

Simplicity was key for the vertical’s pioneer and, according to SPRIBE’s CCO Giorgi Tsutskiridze, it was all about looking to offer something different.

SPRIBE’S CCO Giorgi Tsutskiridze: “wE WANTED TO REDEFINE THE EXPERIENCE OFFERED BY AN ONLINE CASINO GAME”

“We wanted to redefine the experience offered by an online casino game. This meant innovating and looking to other entertainment options such as mobile games as well as the world of crypto.”

Indeed, the beauty of crash games is their simplicity – and this is arguably why they’ve performed so well. Easy access and low barriers to entry.

Tsutskiridze agrees. “Simplicity had to be at the core of the experience offered. We combined different components to produce a game that delivered fast action, social interaction and the ability to win big money from small stakes.

“From this, Aviator was born. We hit the market in 2018 with a clear mission of disrupting casino game lobbies and providing a never-before-seen experience to existing players.”

Creating the first crash game

“To develop Aviator, we first had to gain a deep understanding of player preferences. This meant thorough research and meticulous planning.

“We needed to think outside the box and beyond what had previously been done in the online casino space, pushing boundaries”, he continued.

It was certainly a case of thinking outside the box. What may seem such a simple idea now, SPRIBE was the first to innovate and create a product from it.

“looking back, it really was something of a sensation” – Giorgi Tsutskiridze

“Looking back, it really was something of a sensation. Capturing the hearts of gamers around the world at a scale never seen before, nor seen since.

“We identified the increasing curve format as being the perfect fit for this type of game and the aviation theme was a no-brainer.

“Building a community around the game was also important. So, we made sure it was multiplayer with things like leaderboards and the option to run tournaments.”

Looking back

Looking back, they never thought it would take off so fast. “We knew we’d cracked the code with Aviator. But never did we think it would achieve the popularity and success it has done.”

And a success it has certainly been. Today, it’s played by more than 10 million people each month with the number rising.

“We knew we’d cracked the code with Aviator” – Giorgi Tsutskiridze

The game has been developed to handle up to 10,000 bets simultaneously with more than 165,000 bets being placed every minute.

So, where’s the main interest coming from for crash games?

“Aviator made its debut in a small number of markets. This was so we could gauge interest and iron out any glitches. But so strong was the response that we quickly ramped up roll-out into other markets.

“Its core audience is the lucrative but hard-to-reach millennial and Gen-Z cohorts. In terms of markets, it dominates in Brazil, Africa (South Africa, Ghana, Nigeria, Kenya, Tanzania), India, CIS, Italy, Romania, Croatia, Spain and the UK.

“The simple gameplay, fast action, social interaction and the chance to win big from small stakes means Aviator has broad appeal. Especially among sports bettors and those who like fast betting experiences.”

BetGames: The new high flier

In November 2023, BetGames debuted in the vertical with the launch of Skyward, which initially went live with Betway and Betano across global markets.

In BetGames CEO Andreas Koeberl’s view, crash games hold fantastic potential. With an established legacy of disrupting the live gaming sector, BetGames certainly knows a thing or two about innovation.

“It’s a fascinating market to be in” – betgames ceo Andreas Koeberl

“It’s a fascinating market to be in because you have probably three or four games making approximately 80% of the gross revenue. The rest just follow, suffering from their lack of a good product. They think it’s enough to simply launch a plane into the air,” says Koeberl.

“Generally, it’s the same mechanic that has driven the success we’ve seen across the industry. There are a few experiments with other methods, but there are two or three suppliers that have really nailed it. There’s also one clear market leader with SPRIBE’s Aviator.”

SPRIBE has certainly set the gauntlet down for others to follow. Just like with SPRIBE, Koeberl sees the real potential for crash games as being a gateway for casino for sports fans and first-time players.

“We’re catering to the user – it’s really that simple”, says Koeberl. “BetGames is the go-to gateway between sports and gaming. We see this massive overlap within our player profile with rapid-play genres like slots and crash games.

“The boom in crash games is, right now, mainly in emerging markets, Africa, LatAm and CIS. The core, established markets of the world don’t really enjoy that much growth.”

Solving the challenges of crash games

So, what was BetGames’ experience in creating their own version of crash games?

“It’s interesting how many challenges such a project brings because crash games are deceptively complicated,” Koeberl says.

“At first glance, they’re simple. Like having an old Atari-style plane going into the air but the core elements, for example, cashing out, can be tricky to perfect.

BETGAMES’ SKYWARD: “we see this massive overlap within our player profile”

“It’s not like a slot that is front-end driven where you basically have your own game. This is a so-called common draw game, so all players play the same session and see the same result.

“This makes it tricky to implement. You have to think about a player sitting in rural Brazil with a 3G network. We need to ensure that when they press cash-out they get their money and not an error because of the network connection.”

As Koeberl outlines, one of the big things that many in the industry haven’t got right is the importance of stability and reliability, which a common draw game of this type lives or dies on. And that’s why there were plenty of failures in the early days of the genre.

“There has been much improvement since then but there is still work to do. From a bonus perspective and also looking at localisation – which are two things that BetGames has invested a lot of efforts into.”

Crash games: Player profile

When it comes to players, it’s all about the profile. “We see this massive overlap within our player profile with rapid play genres like slots and crash, rather than live casino – and that overlaps a lot with the slots category, crash games and instant games,” says Koeberl.

“We’re evolving what we do to match the evolution of players” – Andreas Koeberl

“That’s also why we dedicated an entire vertical last year to this topic with a couple of titles out now along with Skyward because players simply demand it. We’re evolving what we do to match the evolution of players, moving with the shift in the market,” he adds.

In BetGames’ eyes this is a vertical that is definitely booming. Indeed, given the studio’s legacy of producing titles, one step ahead of the market explains its reason for entering the vertical.

“We see the key areas our partners focus on and where they invest their marketing and it’s all about slots, instant games, crash games, et cetera. These are the major growth areas but live casino and live entertainment are still there.

“We are a live supplier at heart and will always be. But we can’t ignore global market trends and those of our distinct BetGames players and what they want. Again, our mission is to convert sports-savvy players organically. This requires more than one category of games. Twain Sport was one piece of that puzzle and Skyward is another,” he adds.

Aviatrix: the NFT twist

Aviatrix is another key player that has made a real debut onto the scene in recent years.

AVIATRIX: CRASH GAMES WITH AN NFT TWIST

As well as offering all the mechanics that crash games are famous for, the studio also harnesses a fresh twist, deploying NFTs.

Players are able to participate in the game using their own aircraft, which is actually an NFT (non-fungible token), which as many will know from the recent blockchain fame, gives unique ownership over their own aircraft.

Planes are unique in the blockchain code sense, “the more you play, the more experience you gain on a single plane and then the more money you can win in daily tournaments,” the company explains. The plane is owned by the player, who will have a chance to sell, exchange and transfer it to another casino.

So far, Aviatrix has attracted over 40,000 daily active users worldwide. Anastasia Rimskaya, chief account officer at Aviatrix, is delighted with its performance since launching.

“With Aviatrix, our aim was to elevate the crash game genre to create something truly special. Crash games have been growing in popularity for a few years now. But the player experience tended to be fairly limited, particularly when you compared them to the AAA, feature-packed slots games on offer.”

NFT-based engagement with crash games

Indeed, the NFT-based engagement and personalisation features have given the studio a real edge, as a digital asset players can customise, own and, soon, trade on a dedicated marketplace.

“The NFT-based engagement mechanics we’ve incorporated are genuinely game-changing” – Aviatrix’s anastasia rimskaya

Rimskaya explains the thinking behind it: “What has helped us is that we’re trying something genuinely innovative while also showing that new concepts can scale really quickly.

“The NFT-based engagement mechanics we’ve incorporated into Aviatrix are genuinely game-changing and the speed at which players have taken to them shows that there is still room for fresh ideas to thrive in our industry.”

So, how do the NFTs work? “They are fully customisable,” says Rimskaya, “as mentioned, they will soon be tradeable on a dedicated marketplace. It is similar to a play-to-earn mechanic. Most crash games merely show the player a standard image of a plane, but we’ve actually created something that a player can personalise and grow attached to.

“One great multiplayer aspect alongside this is that as you play, you can see other players’ customised aircraft flying in the background of the game, creating a truly social element,” she adds.

“Our game also sits atop our own proprietary blockchain (SCR), which opens up interesting possibilities for us in the world of web3. Watch out for more on this in 2024!”

Standing out from the crowd

Is offering something new going to be key to standing out against other studios in 2024? Rimskaya certainly thinks so. That appeal is certainly one that catches the interest of next-gen players. When analysing audience demographics, Aviatrix certainly sees a diverse spread.

“The first thing to say is that the audience for crash games is growing quickly, so the ‘typical’ type of player is actually now a rather diverse group,” Rimskaya outlines.

TO THE MOON: AVIATRIX HAS A WHOLE HOST OF PLANS FOR 2024

“But if we were to look at profiles, players do tend to skew a little younger than slots or table games. Crash games have their origin in crypto, so players are often tech-savvy. There is also a greater element of control and choice than you find in most casino titles.

“Players aren’t simply hitting ‘spin’ and waiting for the result; they are making a judgement call on every bet. This appeals to audiences who may also enjoy console or PC games.”

For Aviatrix, it’s all about staying true to their first and only product. Rimskaya is passionate about that focus.

“We’re absolutely focused on a single product right now, our self-titled Aviatrix. What’s important to note here though is that we don’t treat Aviatrix as a normal casino game. Most providers build a new game, release it and then move onto the next game.

“Aviatrix is continuously being improved and updated with new features and functionality designed to keep things fresh and reward the loyalty of players. This includes a major redesign that we’ll roll out shortly and in 2024 we’ll launch a dedicated marketplace so players can buy, sell and trade their NFT aircraft. We’re committed to making Aviatrix an ever-evolving and improving experience.”

IBIA partnership with Norway signals end of monopoly

The organisations will work to establish a framework for cooperation to promote a safe and effective licensing and regulatory regime. Both the IBIA and Norway-facing NBO will also work on specific betting integrity provisions.

The partnership comes with both the IBIA and NBO urging Norway to withdraw its gambling monopoly system. At present, Norsk Tipping has rights to online casino gaming and sports betting, while Norsk Rikstoto covers horse racing

However, Norway faces calls to drop this system and open up licensing to other approved operators. The European Gaming and Betting Association (EGBA) is among several other organisations backing such a move. 

Norway remains one of the remaining European countries with a state gambling monopoly. Nearby Finland has committed to ending its monopoly in favour of a licensing model by 2026. Meanwhile, Sweden, Denmark and Germany have also taken similar approaches. 

Upon confirming the MoU, the IBIA and NBO also referenced forecasts from H2 Gambling Capital about illegal gambling in Norway. This include that in2024, 43% of online betting revenue in the country will be conducted offshore in 2024. 

Monopoly system “hindering” Norway market

“Increasingly strong signals indicate that the Norwegian monopoly is not the most effective solution for consumer protection or industry integrity,” NBO general secretary Carl Fredrik Stenstrøm said

“Betting is a fully digital and international service that cannot be confined to local peculiarities. To establish the best possible framework, the gambling offering must be viewed comprehensively and regulated accordingly.

“The partnership between NBO and IBIA ensures a concerted effort to address responsible practices and supporting initiatives aimed at minimizing the impact of gambling-related harm.”

IBIA CEO Khalid Ali also talked up the partnership, saying it will support the NBO’s ongoing effort to lobby against the current monopoly.

“IBIA welcomes the establishment of an MoU with the NBO,” Ali said. “We will seek to support the NBO’s challenge of the continuation of a monopoly style approach to betting in Norway. 

“The lack of licensing for responsible regulated betting operators in Norway hinders market oversight, consumer protection and the implementation of effective sports betting integrity provisions.”

Evolution accused of misleading investors in lawsuit

The suit was filed by Federman & Sherwood in the United States District Court for the Eastern District of Pennsylvania.

It represents entities that purchased Evolution shares between 14 February 2019 and 25 October 2023 – known as the class period. It alleges that within this timeframe, Evolution made untrue or misleading statements in regards to its growth potential, customer compliance, the company’s compliance and the effect of non-compliance on revenue.

Martin Carlesund, Evolution CEO and Jacob Kaplan, chief financial officer are named as defendants.

Martin carlesund, evolution ceo, and jacob kaplan, cfo, are named as defendants

The complaint lists a number of incidents that took place between 24 January 2022 and 26 October 2023. These had a subsequent effect on Evolution’s share prices. The filing states that these represent proof of Evolution’s non-compliance.

Specifically, the complaint alleges violations of Section 10(b) of the Securities Exchange Act and Rules 10b-5 promulgated thereunder, as well as violations of Section 20(a) of Section 20(a) of the Securities Exchange Act. These sections prohibit any attempts at defrauding investors through untrue statements and or omitting facts.

The suit aims to recover damages from all investors that purchased securities within the class action period.

What does the lawsuit outline?

On 24 January 2022, a report released by Analyst Generation Limited was made available to certain investors. Ensuing media coverage said the report outlined two main allegations – that a portion of Evolution’s revenue “could be at risk due to future regulatory clampdowns”, and that Evolution had been “exposed to revenues from what we believe to be illegal gambling activities”.

EVOLUTION’S AMERICAN DEPOSITORY SHARES (ADS) FELL BY 14.68% following the analyst generation report in 2022

Following this, the price of Evolution’s American Depository Shares (ADS) fell by 14.68% across the subsequent three trading sessions.

On 26 April 2022, Australia’s gambling regulator called for the country’s internet service providers to block six online gambling sites for alleged illegal gambling. Five of these six sites were direct or indirect customers of Evolution. Evolution’s ADS fell by 6.22% across the next two trading sessions following the news.

On 4 May 2022, the Swedish Administrative Court upheld three penalties against brands operated by ComeOn. The penalties were in relation to bonus rule violations. ComeOn is a subsidiary of Cherry AB, an Evolution customer.

Woes in Q1 and Q3 for Evolution

Evolution’s Q1 2023 results revealed a stagnation in its RNG business segment. In addition, its North American business grew only slightly. This was also the case in its Q3 results.

An earnings called held in relation to its Q3 results revealed that Evolution also faced delays in opening new studios.

Following these Q1 and Q3 results, Evolution’s ADS price fell by 8.23% over the next four trading sessions and 7.61% over the next two respectively.

Evolution has not published a response to the allegations.