iGaming This Week - 2024 Week 30 - 1st Edition
????John C.
I assist iGaming operators and investors who are looking to enter the Asian market by offering valuable market insights to help them develop a better strategy that suites their needs.
Here are some key updates and developments in the iGaming industry This Week.
Boyd Gaming is exploring M&A opportunities, Evolution acquires Galaxy Gaming for $85 million, and IGT buys Everi's gaming division for a whopping $1.8 billion! The industry is getting a major shake-up, and we're just getting started!
Notable mentions include Spinomenal's new slot game, Soft2Bet's innovations, and Mindway AI's partnership with Evoke to enhance responsible gaming initiatives.
But, it's not all sunshine and rainbows - Brazil's igaming regulation is tightening up, FDJ reports an 11% revenue increase, and Kindred Group shows strong H1 2024 results.
Oh, and did you hear about the ban on POGOs in the Philippines?
Read more below.
#1 Boyd Gaming Explores M&A Opportunities After Mixed Q2 Results
Boyd Gaming, a US gaming company, has announced plans to pursue a merger or acquisition after reporting mixed Q2 results. Despite a 1.4% increase in revenue, adjusted net income declined by 15.1% due to increased expenses and taxes.
Boyd Gaming believes its strong balance sheet and cash reserves make it well-positioned for growth through strategic acquisitions or mergers. The company has identified potential targets, including regional gaming companies and online gaming platforms, which could enhance its growth prospects and customer base.
Boyd Gaming aims to diversify its revenue streams and increase scale through these acquisitions, and its strong financial position makes it an attractive partner for potential targets in the gaming industry.
#2 Evolution Acquires Galaxy Gaming for $85 Million
Evolution, a leading provider of casino games, has agreed to acquire Galaxy Gaming, a developer and distributor of innovative casino table games and technology solutions, for a total equity value of approximately $85 million.
The acquisition is expected to strengthen Evolution's position in the US market and enhance its portfolio of proprietary table games. Galaxy Gaming has a diverse portfolio of cutting-edge games and has established itself as a trusted partner to casinos worldwide.
The transaction is subject to customary closing conditions and is expected to close in mid-2025.
#3 IGT and Everi Merge Under Apollo's Cash Buyout
Apollo Global Management has brokered a deal for IGT Gaming and Everi to merge, with Everi shareholders receiving a cash payout of $14.25 per share, a 56% premium on the previous day's closing price.
The combined company will be privately owned, with Apollo as the parent company. IGT's lottery business will continue operating under a new name and ticker symbol, while Everi's slots will remain a staple in US casinos.
The deal values Everi at $1.2 billion and IGT's gaming division at $4.05 billion, with an enterprise value of $6.2 billion for the combined company.
#1 Betsoft Gaming Partners with GoldnLuck to Expand Gaming Offerings
Betsoft Gaming, a provider of iGaming content, has partnered with GoldnLuck, an online casino brand. The partnership will see Betsoft's games integrated into GoldnLuck's platform, offering players a wider range of gaming options.
This collaboration aims to expand GoldnLuck's offerings and attract new customers, while also increasing Betsoft's presence in the market
#2 Dot Connections and SA Gaming Announce Partnership
Dot Connections, a fast-growing iGaming aggregator, has partnered with SA Gaming, a leading Asian Live Game supplier, to integrate its innovative portfolio of live dealer games onto the Dot Connections' ACE platform.
The agreement will make SA Gaming's extensive library of live dealer games, including Roulette, Blackjack, Baccarat, Dragon Tiger, and Pok Deng, available to operators across Asia and Latin America through a single API.
This partnership underlines Dot Connections' position as a trusted aggregator in the industry, expanding its list of studios and offering a diverse range of content to its operator partners.
#3 Mindway AI Partners with Evoke to Enhance Responsible Gaming Initiatives
Mindway AI has partnered with Evoke to enhance responsible gaming initiatives in the iGaming industry.
The partnership aims to use AI technology to identify high-risk players and provide operators with tools to prevent gambling addiction, promote responsible gaming practices, and ensure player safety.
#4 Pronet Gaming Partners with Betsolutions to Enhance iGaming Experiences
Pronet Gaming, a leading iGaming platform provider, has announced a strategic partnership with Betsolutions, a software development company specializing in immersive gaming experiences.
This collaboration aims to leverage Betsolutions' expertise in software development and technology solutions to further innovate Pronet Gaming's platform and deliver unparalleled experiences for players worldwide.
The partnership will enable the two companies to collaborate on various initiatives, including product development, integrating new features, and expanding market reach, ultimately enhancing the value offered to clients and partners.
With this partnership, Pronet Gaming continues to expand its capabilities and offerings in the competitive iGaming space, aligning with its vision of delivering exceptional gaming experiences.
#5 BetComply Supports Hard Rock Casino's Dutch Launch
BetComply has provided its technical and regulatory compliance services to iCasino, helping the operator's Hard Rock Casino brand secure a licence for the Dutch market.
The company worked closely with BetComply to ensure compliance with the Netherlands' gambling regulations, resulting in the successful launch of the online casino platform in the country.
As a result, Hard Rock Casino has become one of the first global brands to enter the Dutch market, which has attracted several international operators in recent months.
BetComply claims to have supported more than a third of all licence holders in the country and will continue to work with Hard Rock Casino to ensure compliance with evolving regulatory requirements.
#6 Boomerang Digital Secures Major Deal with Club 3000 Bingo Chain
Boomerang Digital, a multi-sector gaming and entertainment solutions provider, has announced a 5-year exclusive supply agreement with Club 3000, the largest independent bingo chain in the UK.
The deal covers Boomerang's Quantum range of machine management systems and Paystations, and marks the first major business win since Boomerang's acquisition by Andrew Ludlow in May.
The agreement was secured through close collaboration between the two companies, with Ian Fuller, Managing Director of the Playsafe vertical, praising the partnership as a key factor in delivering the desired outcomes for Club 3000.
The Quantum system will automate monitoring and reporting of gaming machine data, providing detailed insights and enabling the company to maximize machine income.
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#7 Casino Guru and BetBlocker Announce Strategic Partnership to Enhance Player Protection
Casino Guru, a leading online casino review and player protection platform, has partnered with BetBlocker, a pioneering tool designed to help individuals manage their gambling habits.
This strategic partnership aims to integrate BetBlocker's blocking software with Casino Guru's Global Self-Exclusion Initiative and other responsible gambling features to provide a comprehensive and seamless self-exclusion experience for players.
The collaboration will also involve joint efforts in research, awareness campaigns, and the development of new tools and resources to support players and reduce gambling-related harm.
The partnership is seen as a significant step towards promoting responsible gambling and protecting players on a global scale, with both organizations committed to maintaining high standards of player protection and continuously improving their services to meet the evolving needs of the global gambling community
#1 Spinomenal Shines Again with Super Wild Fruits Release
Spinomenal has released a new online slot game called Super Wild Fruits, featuring a 5x3 reel layout, 20 paylines, and vibrant fruit symbols.
The game includes special features like Wild symbols, Scatters, and Free Spins, with the potential to win up to 5,000x the bet in the Free Spins round.
The game is available on desktop and mobile devices and offers an engaging and entertaining experience for players.
#2 Soft2Bet Showcases Innovations and Introduces Igaming Investment Fund at Final Amsterdam IGB Live
Soft2Bet is showcasing its innovations and introducing an igaming investment fund at the Final Amsterdam IGB Live exhibition.
The fund aims to support innovative startups and entrepreneurs in the igaming industry, focusing on new technologies, products, and services that can improve the gaming experience.
#3 3 Oaks Gaming Ignites the Heat with Super Hot Chilli Slot**
3 Oaks Gaming, a leading distributor of iGaming content, has launched its new Hold and Win slot game, Super Hot Chilli, featuring Boosters in the Bonus Game designed to elevate player engagement.
The 5x4 slot revisits the popular Mexican theme, offering a thrilling gameplay experience with a Hold and Win Bonus Game, Free Spins round, and sizzling Boosters. Players can win one of four in-game jackpot prizes by filling the board with Jackpot Chilli Peppers or land three Scatter Symbols to trigger the Free Spins round.
With stunning visuals and vibrant music, Super Hot Chilli is set to be rolled out across 3 Oaks Gaming's network of partners in regulated markets, providing operators with a standout title that promises to captivate players.
#1 Brazilian Igaming Regulation: Key Requirements for Online Gaming Operators
Brazil's igaming regulation requires that online gaming companies operating in the country adhere to a range of requirements to ensure a safe and responsible gaming environment.
To begin with, they must obtain a license from the Special Secretary of Games (SEG) and meet technical requirements, including robust encryption, data protection, and regular security audits and penetration testing.
Additionally, content restrictions are in place to prevent the promotion of illegal activities, violence, or discrimination.
Players must also be verified to be at least 18 years old (21 in some states), and operators must collect and verify identification documents as part of Know Your Customer (KYC) requirements.
Furthermore, games must be designed to ensure fair play, transparency, and integrity, with random number generators (RNGs) meeting international standards. Operators are also required to provide adequate customer support in Portuguese and withhold taxes on winnings as applicable.
Finally, they must report player activity and monitor transactions to prevent money laundering and other illegal activities. By adhering to these requirements, online gaming companies can ensure compliance with Brazilian law and maintain their licenses
#2 Nevada Gaming Control Board Slaps iGaming Company with Cease and Desist Order
The Nevada Gaming Control Board has issued a cease and desist order to Playgon Interactive, Inc. and its affiliate Bitrate Productions, threatening criminal or civil action if they do not cease production of live dealer casino games from a studio in Las Vegas.
The company is accused of using live dealers without proper licensing from the state's gaming regulator and falsely claiming that their activity would not require licensing because it was for "entertainment purposes only".
The NGCB alleges that Bitrate's activities went beyond social gaming, and if they do not comply with the order by July 26th, the board will take all necessary action to enforce Nevada's gaming laws and regulations.
#3 Philippines President Announces Ban on POGOs Amid Links to Serious Crime
Philippines President Ferdinand Marcos Jr. has announced a ban on all Philippine Offshore Gaming Operators (POGOs) due to their links to serious crimes such as financial scamming, money laundering, prostitution, human trafficking, kidnapping, torture, and murder.
The ban comes after a campaign was launched in 2022 to outlaw POGOs, which have been accused of disguising themselves as legitimate entities and engaging in illicit activities. The Philippine Amusement and Gaming Corporation (Pagcor) has been ordered to halt all POGO operations by the end of the year.
The move is aimed at preventing further "grave abuse and disrespect" to Philippines laws and ensuring the safety and security of its citizens.
#1 FDJ Reports 11% Revenue Growth, Eyes Kindred Acquisition
Fran?aise des Jeux (FDJ) has reported an 11% year-on-year increase in H1 revenue to €1.4 billion, driven by contributions from Zeturf and Premier Lotteries Ireland (PLI), as well as a 15% rise in online betting and gaming activities to €294 million.
The group's digital revenues increased by 40% to €201 million, with a 25% like-for-like increase. FDJ's lottery unit achieved a 5% increase in net income to €1.05 billion, boosted by the success of new instant win games and higher customer engagement.
The company's CEO, Stéphane Pallez, expressed optimism about the future, citing the acquisition of Kindred as a major step in the group's development.
#2 Kindred Kicks Back With Rock Steady H1
Kindred, a leading iGaming company, reported a strong financial performance in H1 2024, driven by its sportsbook performance, particularly in the second quarter.
The company's revenue reached ￡635.3 million (US$819.98m), a four percent increase from the same period last year, with B2C Gross Winnings Revenue growing three percent to ￡614.8 million (US$793.52m).
Underlying EBITDA surged 26 percent to ￡132.9 million (US$171.53m), while profit before tax improved to ￡95.4 million (US$123.61m).
The number of active customers grew by 12 percent to 1,749,611 players. Kindred's CEO Nils Andén attributed the strong performance to the company's resilience and strategic execution, as well as the favorable results of Euro 2024 and a record share of BetBuilder activity.
Stay tuned and follow me ????John C. for more updates and insights from the iGaming world!