iGaming This Week: 2024 Week 48 - Weekend Edition

Hey Superstars,

Welcome to the Weekend Edition!

Exciting developments in the iGaming industry include:

• Pragmatic Play's expanded sportsbook offerings
• SkillOnNet's launch in Peru
• Strategic partnerships, such as Yggdrasil's collaboration with CoinCasino

Additionally, notable industry insights emphasize the importance of player retention through personalization and community engagement.

Regulatory updates highlight the ongoing fight against illegal gambling in Malaysia and new licensing milestones in Brazil.

Read on!

Click highlighted link to read the full details

Product Updates and Releases

• Pragmatic Play has enhanced its sportsbook offering by introducing football player markets, allowing operators to provide a broader range of betting options including shots on goal and player fouls, catering to the growing popularity of individual player bets in football.
• SkillOnNet's Spanish-language brand PlayUZU has officially launched in Peru's newly regulated market, offering players a unique no-wagering requirement guarantee and extensive localized content, backed by a comprehensive marketing campaign to promote fun, transparency, and responsible gaming.
• PopOK Gaming has launched "Sumo Baby," a playful 3x3 slot game with 5 paylines that offers a maximum win potential of 2,500x the bet, featuring a Multiplier Reel, a Free Spins Feature with extra multipliers, and a Sure Win Bet option for guaranteed payouts.

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New Roles and Appointments

• Lauren Bradley has been appointed as the new Director of Account Management at Gaming Realms, a leading provider of mobile-focused gaming content known for its popular Slingo titles. With over a decade of iGaming experience, she is expected to drive commercial success and support the company’s ongoing expansion, which has recently achieved an impressive 18% increase in total revenue.

Partnerships News

• Yggdrasil has partnered with CoinCasino to expand its cryptocurrency presence by launching its extensive portfolio of proprietary and third-party slot games, enhancing the gaming experience for CoinCasino's players while tapping into the growing demand for blockchain-based entertainment.
• Aviatrix has partnered with BetComply to enhance its compliance capabilities and expand its presence in regulated markets, successfully securing a B2B license in Sweden and positioning itself for additional licenses in various jurisdictions.
• Playson has partnered with OlyBet to enhance the gaming experience for Spanish players by integrating its popular slot games, reinforcing its commitment to expanding in regulated markets.

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Revenue Reports

• Genting Malaysia Berhad reported an 11% revenue drop to RM6.5 billion in 3Q24, primarily due to weaker performance in its Leisure & Hospitality Division, although year-to-date revenue improved by 5% to RM20.8 billion, with management maintaining a cautiously optimistic outlook for the remainder of the year despite facing economic uncertainties.

Licenses and Regulations Updates

• AZBalls SRL, a subsidiary of Xite Holdings Ltd, has acquired the Tobique Gaming License, enabling it to launch its online lottery brands, AZPlay and Lottos1, globally while integrating charitable support into its lottery products, including the innovative AZBillions Alphabet lottery.
• Aposta Ganha, Brazil's rapidly growing sports betting and online gaming platform, has secured its official license to operate in the regulated market, set to begin operations on January 1, 2025, positioning itself as a leader in responsible gaming and consumer protection.
• Malaysian authorities have requested Facebook to remove nearly 250,000 ads, primarily linked to illegal gambling and fraud, highlighting a significant issue that resulted in over $97 million in losses for citizens last year.

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Merger and Acquisitions

• Bally's Corporation stockholders have approved the merger with The Queen Casino & Entertainment, indicating a strong confidence in the transaction, which is expected to close in the first half of 2025, pending regulatory approvals. Following the merger, shares will trade under the new ticker symbol “BALY.T” until the transition is finalized, after which they will revert to the original "BALY" symbol. This strategic merger aligns with Bally's ongoing projects, including significant developments in Chicago and Las Vegas, despite a slight decline in overall revenue reported in the third quarter of 2024.

Industry Insights

Player Retention: How Do You Keep Players Coming Back?

• Player acquisition costs in the gaming industry are surging due to heightened competition, rising media costs, and the implementation of privacy standards, which have made it more challenging to effectively target potential players.
• To ensure long-term player retention, companies must focus on personalisation, community building, and regular content updates, while also balancing immediate engagement through exciting onboarding experiences and instant rewards to create a loyal player base.

Allan Stone emphasizes the importance of personalization for player retention: “In a word, personalisation. It’s plain and simple. The more that brands can understand player behaviours and continue to create personalised experiences, the more they will keep players coming back in the long term.”

Read more at iGaming Gazzete

Did You Know?

Exploring Crypto in Asia-Pacific: Men Lead Ownership, with Indonesia on Top!

• In India, 61% of cryptocurrency owners are men, with Indonesia leading in user share and East Asia generating $5 billion in cryptocurrency revenue, while countries like Japan, and Malaysia show high ownership rates of Bitcoin and Ethereum, suggesting a growing positive perception and potential for greater daily cryptocurrency integration in the Asia-Pacific region.

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Happy Betting!