iGaming This Week: 2024 Week 43 - Wednesday Edition
In this edition, we're thrilled to highlight significant advancements within the iGaming sector. PokerStars has announced its inaugural women-only High Roller event as part of the Women’s Winter Festival, aiming to foster female participation in live poker.
Additionally, Bally's Interactive has launched its sportsbook app in Tennessee, expanding its reach, while Aristocrat Interactive joins forces with DirectBe to unveil new online brands in the UK.
On the regulatory front, the Australian Communications and Media Authority is intensifying its crackdown on illegal offshore gambling, promoting safer gaming environments through initiatives like BetStop.
Meanwhile, revenues are on the rise, with Svenska Spel reporting a substantial revenue increase sourced from responsible gamblers and Greece witnessing a 14% growth driven largely by online platforms.
Continue reading more details below...
New Products and Releases
PokerStars Pioneers Women-Only High Roller Event at Winter Festival
In a historic move, PokerStars has announced its first-ever women-only ￡1,100 High Roller event as part of the Women’s Winter Festival, set to take place in London on November 21.
This initiative aims to enhance female participation in live poker by providing competitive opportunities and is designed based on feedback from women in the poker community.
Additionally, the festival will feature various tournaments, including a unique 50/50 NLH Freezeout that encourages mixed-gender teams, further promoting inclusivity within the poker game.
Bally Bet Breaks New Ground: Sportsbook App Launches in Tennessee!
Bally's Interactive has officially launched the Bally Bet Sportsbook app in Tennessee, marking its expansion to a total of ten states, following successful launches in Massachusetts and Maryland.
The app offers Tennessee sports fans a wide range of betting options, including spread and money line bets, in-game betting, and a unique Parlay Zone feature for customizable parlays.
As an official partner of the Nashville Predators, Bally's plans to enhance the fan experience with social promotions and in-arena activations throughout the NHL season.
Aristocrat Teams Up with DirectBe to Launch Betfusion and Playwins in the UK
Aristocrat Interactive has partnered with DirectBe to introduce two new online gambling brands, Betfusion and Playwins, in the UK, leveraging Aristocrat's comprehensive white-label iGaming solution.
Betfusion is already live, while Playwins is set to launch in mid-November, both promising enhanced gaming experiences by utilizing advanced player account management and sportsbook services. Industry leaders express optimism about the partnership, anticipating a positive response from players due to the exciting engagement opportunities offered.
Partnerships and Collaborations
QTech Games Levels Up Live Casino Experience with Live88 Partnership
QTech Games has partnered with Live88 to enrich its live-casino offerings, introducing popular games like Roulette and Blackjack to cater to emerging markets.
The collaboration enhances player engagement with customizable live-dealer experiences and innovative features, including collectible aspects and tailored tables for various brands, especially in Latin America.
This deal reinforces QTech’s commitment to innovation and flexibility, providing a diverse and dynamic gaming portfolio as it targets new growth areas globally.
Digitain Unveils Expanded Gaming Horizons with Vibra Gaming Integration
Digitain has enhanced its content offerings by integrating Vibra Gaming’s popular localized games, which are well-known in Latin America.
This partnership allows Digitain's operators access to an exciting array of games, including slots and Quick games, designed to engage a new generation of players. Both companies are optimistic that this collaboration will pave the way for growth in emerging markets while enhancing the gaming experience for users worldwide.
EvenBet Gaming Enters Paraguayan Market with JugaMax Partnership
EvenBet Gaming has expanded its reach into Paraguay by teaming up with JugaMax, integrating its award-winning poker solutions onto JugaMax's platform, aimed at attracting a diverse player base.
This collaboration is timely, coinciding with growth in the Paraguayan iGaming sector and recent regulatory changes, leading to a projected market growth of nearly 30% over the next three years.
The partnership promises to enhance JugaMax's offerings and solidify EvenBet's position in Latin America, boosting both companies as they capitalize on the expanding online gaming landscape.
New Roles and Appointments
Sharon Wright Joins The Pools: A New Era for the Iconic Brand
The Pools has appointed Sharon Wright, a former executive at Nike and Adidas, as its new Marketing Director, tasked with leading a major growth initiative in 2025.
With a robust background in marketing strategy and significant achievements in global brand development, Wright aims to revitalize The Pools through a high-profile multi-channel campaign that resonates with modern audiences while honoring the brand's rich heritage.
Her leadership is expected to contribute significantly to The Pools' rebranding and updated offerings as the company prepares to enhance its market presence going forward.
Licenses and Regulations
ACMA Cracks Down on Illegal Offshore Gambling with New Website Blocks
The Australian Communications and Media Authority (ACMA) is intensifying efforts to combat illegal online gambling by requesting Australian internet service providers to block two additional offshore websites, Lucky Block and Rooli, for violating the Interactive Gambling Act 2001.
With over 1,059 illegal sites currently blocked and 220 services exiting the Australian market since 2017, the ACMA aims to protect consumers from unregulated gambling practices that lack essential customer safeguards.
Additionally, a new initiative, BetStop, has been launched, enabling over 28,000 Australians to voluntarily self-exclude from licensed gambling services, highlighting a growing awareness and proactive approach to managing gambling behaviors.
Revenue Reports
Svenska Spel's Revenue Surge: 94% from Responsible Gamblers
Svenska Spel reported that 94 percent of its SEK 1.97 billion revenue for Q3 2024, representing a notable 0.7 percentage point increase from the previous quarter, originates from responsible, low-risk gamblers.
The company continues to prioritize sustainable growth by focusing on minimizing revenue from higher-risk customers and enhancing consumer protection initiatives.
As part of their commitment to responsible gaming, Svenska Spel is funding research projects on gambling addiction and organizing educational events to promote integrity and awareness across the sports sector.
Greece's Gambling Boom: 14% Revenue Surge Fueled by Online Platforms
Greece's gambling industry has experienced a robust 14.1% growth in the first eight months of 2024, reaching a total gaming revenue of €28.3 billion ($30.73 billion). The surge has been driven predominantly by online betting, which accounted for around 70% of the revenue, with leading operator OPAP contributing €6.6 billion.
Traditional casinos also posted gains, with a 7% increase in revenue, resulting in a significant boost in tax revenues for the Greek government.
Mergers and Acquisitions
Boldplay Teams Up with Openbox Holdings for Global iGaming Innovation
Boldplay has announced its acquisition by Openbox Holdings, allowing it to integrate its innovative gaming products into Openbox’s established distribution platform.
This strategic partnership aims to accelerate global expansion and enhance player experiences by providing fresh content and technology innovations. With both companies committed to leveraging their strengths, they foresee delivering immersive gaming experiences that will set new standards in the iGaming industry.
XLMedia Strikes Deal: Sells North American Business to Sportradar for Up to $30 Million
XLMedia PLC has entered into a conditional agreement to sell its North American operations to Sportradar AG for a total of up to $30 million, pending shareholder approval expected in November 2024.
The deal involves an immediate payment of $20 million, with the potential for an additional $10 million based on performance targets in 2025. Following this divestment, XLMedia plans to focus on its European market operations and will transition to an AIM Rule 15 cash shell, a move aimed at enhancing shareholder returns through the distribution of proceeds from both its North American and European sales.
Market Analysis and Intelligence
Thailand's Casino Gamble: A Push for Tax-Free Winnings and Entertainment Complexes
The Thai cabinet is currently considering public feedback on proposed integrated resorts (IRs) that would feature casinos, as the government aims to enhance tourism and generate significant tax revenues.
While most gambling is illegal, except for the national lottery and horse racing, former Prime Minister Srettha Thavisin advocated for these complexes to attract affluent tourists and promote long-term economic growth.
Some citizens have voiced opinions during an online hearing, with debates focusing on license terms, entry fees for locals, and even a suggestion to make gambling winnings tax-free.
Lawmakers have proposed five IR locations, including multiple sites in Bangkok, Chiang Mai, and Phuket, and operators like MGM and Caesars are eyeing investment opportunities in Thailand.
New regulations would mandate that each resort contains non-gaming attractions to support local culture, and foreign operators must meet specific incorporation and capital requirements.
As Thailand positions itself to compete with established gaming destinations like Macau and Singapore, experts believe successful execution could elevate its status as a premier tourist hotspot in the region.
That's all for this edition!
We hope you found the updates informative and insightful.
Stay tuned for our next edition, where we'll continue to bring you the latest news and trends from the iGaming Industry.?
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