iGaming Wrap-Up of CW 47-48 2024
#iGaming News of the week
0.?????? FanDuel Co-Founders Launch Crypto Casino, Sportsbook
FanDuel co-founders Nigel Eccles and Rob Jones have launched BetHog, a cryptocurrency-powered casino and sportsbook available globally with “a number of jurisdictional restrictions” including the US and UK.
The platform has backing from 6MV, Bullpen Capital, and other investment groups as part of a $6 million seed round announced Tuesday, Nov. 12.
The project from the FanDuel co-founders is unavailable throughout the US because it is licensed and registered in Belize. It primarily targets Asia and Latin America, a spokesperson said.
“The crypto casino market has seen dramatic growth over the past few years driven by innovations like provably fair games, robust VIP programs and streaming,” Eccles said in a press release. “With BetHog, my goal is to innovate even further by bringing unique and highly visual games to market. I want to offer users unique play-along and skill-based titles, combined with a robust VIP offering, but most of all, this is about maximizing fun for our users!”
BetHog will work on US and UK access in 2025.
#Breaking News
1.?????? UAE launches first regulated lottery
The United Arab Emirates (UAE) has officially announced the launch of its first ever national lottery, which is set to be regulated by the General Commercial Gaming Regulatory Authority (GCGRA) and run by local operator The Game LLC.
As of the 27 November, residents of the UAE aged 18 and above will have access to the nation’s first regulated lottery programme, which is set to offer a range of lottery-related gaming options for players in the region.?
Commenting on this latest news, Bishop Woosley, Director of Lottery Operations at The Game LLC, said: “Our mission at The UAE Lottery is to inspire people to dream big, aligning with our slogan, 'Dare to Imagine.' We aim to create exciting experiences while promoting responsible play. Following a rigorous GCGRA evaluation, our team remains committed ensuring that all operations meet global standards, guaranteeing fairness and transparency from the draw process to the selection of winners.”
2.?????? Wynn Resorts: Structural work finalised on 73% of UAE property’s rooms
Wynn Resorts has announced significant progress in the construction of its latest venture, Wynn Al Marjan Island, within the emirate of Ras Al Khaimah.
This project marks the first integrated resort in the United Arab Emirates (UAE), strategically located just 50 minutes from Dubai International Airport.
Construction of the $5bn resort (pictured) is well underway, with 55% of the structural concrete completed. The main resort tower has reached the 26th floor, while the walls up to the 29th floor are already in place, as well.
The dedicated construction team is currently completing one floor per week, aiming for a topping-off ceremony scheduled for December 2025. Over the past three months alone, the height of the resort tower has increased by an impressive 44 meters.
A recent report suggested that the UAE could evolve into an $8.5bn gambling market rivalling Las Vegas’ gaming revenues and outpacing Singapore’s figures. This is a testament to both local interest levels as well as the international tourism potential associated with resorts like Wynn Al Marjan Island.
3.?????? Apple and Google named in RICO sweepstakes class action
Apple and Google were accused of willingly assisting, promoting and profiting from illegal gambling by permitting several sweepstakes mobile apps on their stores in court filings yesterday (28 November).
Filed in New Jersey District Court, the lawsuit accuses the tech giants and their payments arms of facilitating illegal gambling operations via four sweepstakes casino operators: High 5 Casino, Wow Vegas, Crowncoins Casino and McLuck.com.
While sweepstakes casino opponents have alleged they are engaged in illegal gambling, their supporters argue the operations are simply social casinos in a new guise.
The complaint said: “This case is about patently illegal gambling software being distributed to the cell phones, desktop computers and other personal electronic devices of individuals throughout New Jersey and beyond, by an unlawful enterprise that includes two of the most successful corporations in the world.”
4.?????? Playtech stands by €100m executive reward plan
The board of Playtech Plc has announced that a General Meeting will be convened on 19 December to allow shareholders to vote on the directors’ remuneration policy.
The vote is needed to settle disputes over Playtech’s €100m remuneration scheme for executives, linked to the LSE-listed firm’s sale of its Snaitech Italia business to Flutter Entertainment for €2.3bn.
A segment of shareholders has deemed the planned rewards as “obscene” and “egregious”, with Group CEO Mor Weizer set to receive a €50m cash bonus.
Playtech has defended the €100m scheme, stating that it is critical to align the company’s leadership with its strategic goals and ensure the successful delivery of shareholder returns following the Snaitech sale, which sees the company return to its role as a pure-play B2B gambling technology business.
5.?????? Illegal gambling ads flood Indian Instagram
A new report by the Advertising Standards Council of India (ASCI) has revealed Instagram as the platform of choice for illegal operators to advertise their products to the local populace.?
ASCI highlighted illegal offshore betting as a continuous “major concern” for the regulator, with a total of 890 ads being reported to the Ministry of Information & Broadcasting (MIB) – constituting 29% and taking second place from the total 2830 illegal adverts processed between April and September 2024.
Of the 890 illicit adverts, 831 were in the form of Instagram posts on fan and community pages that displayed specific tags which then redirected users to offshore betting platforms. In addition, ASCI pinpointed 50 other websites and social media pages together with 9 influencers promoting illegal gambling platforms.
As a result, a number of pages were promptly taken down after ASCI’s intervention that leveraged the regulator’s close collaboration with the government.
6.?????? Polymarket blocks French users amid ANJ investigation
Polymarket has recently restricted access for traders in France in response to an investigation by French regulators.
The company offers a prominent crypto-based prediction market platform that became a target of significant debate ahead of the US elections.
The move, which took effect on 22 November, was communicated via a pop-up message to users. The notice informed them that trading services were unavailable to individuals in France, the US, and other restricted jurisdictions.
The French gambling regulator ANJ is reportedly conducting the investigation, examining Polymarket’s compliance with the country’s gambling laws. The scrutiny comes after a series of high-profile incidents tied to the platform, including significant activity during the 2024 US presidential election.
7.?????? Codere Online Q3 2024 results: Net gaming revenue reaches €51.7m
Codere Online has released its preliminary financial results for the third quarter of 2024, demonstrating robust growth across key markets.
The company reported total net gaming revenue of €51.7m ($54.6m) for the quarter, representing a 20% increase compared to the same period in 2023.
This growth was primarily driven by strong performances in Mexico and Spain, the company's two primary markets.
Mexico emerged as a particularly impressive market, with net gaming revenue reaching €26.7m – a 27% year-on-year increase.
#US / Canada
8.?????? Hochul criticised for vetoing downstate New York casino timeline bill
New York's governor, Kathy Hochul, last Friday (22 November) vetoed S9673A, the bill that would have set deadlines for the submission of applications and the awarding of three licences for downstate casinos. Industry stakeholders say the process lacks clarity.
Ironically, the first deadline in the bill has already passed. It set the deadline for applications at 31 August 2024. Under the timeline set by the New York State Gaming Commission (NYSGC), applications for the three downstate licences are due by 27 June 2025.
There are 11 proposed casino projects in and around New York City for which plans have been revealed. But no bidder has yet submitted a formal application.
9.?????? FanDuel, MLB Players, Inc. forge new licensing agreement
In a new collaboration that could reshape the online sports betting market, MLB Players, Inc., the for-profit subsidiary of the Major League Baseball Players Association (MLBPA), has partnered with FanDuel and OneTeam Partners in a new licensing deal.
This agreement, which focuses on product and marketing initiatives, allows FanDuel to expand its use of MLB player intellectual property (IP) across its sportsbook platforms in the U.S. and Canada.
The agreement, effective sometime next year, empowers FanDuel to introduce player-focused features to its online sportsbook. It will continue utilizing player rights within its current offerings while integrating MLB player IP into broader campaigns and experiences.
10.?? Philadelphia DA drops case against Elon Musk over voter sweepstakes
Philadelphia District Attorney Larry Krasner has officially ended his legal case against Elon Musk and the America PAC, over allegations that the organisation’s voter sweepstakes amounted to an illegal lottery.
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The announcement came after Krasner filed to have the case dismissed, according to The New York Times. He said it should be “discontinued and ended as to all parties without prejudice, with all parties bearing their own costs.”
The case stemmed from a controversial initiative by America PAC in the lead-up to Election Day in the US. The group, heavily funded by Musk, gave away $1m daily to individuals in Pennsylvania who signed a petition endorsing constitutional rights such as free speech and the right to bear arms.
11.?? Sand replenishment revives Atlantic City beaches, boosting casinos' hopes for tourism
Work is underway to restore Atlantic City’s eroded beaches, with local casinos hailing the long-awaited project as essential for reviving tourism after two seasons of sand-starved summers.?
The U.S. Army Corps of Engineers is leading the $38.2 million effort to widen beaches by placing 1.2 million cubic yards of sand — enough to fill 120,000 dump trucks — along Atlantic City’s shoreline and nearby towns. The project, expected to be completed in two to four months, also includes repairing dunes, planting dune grass, and enhancing beach access in Ventnor, Margate, and Longport.?
“You have thousands of people here on a nice summer day and there’s no beach for them to go on. It affects every business from the largest casino to the smallest pizzeria,” said Mark Giannantonio, President of Resorts Casino Hotel, as per an Associated Press report.
12.?? Caesars launches Horseshoe online casino in New Jersey
Caesars’ online casino platform, Horseshoe Online Casino, has entered the US state of New Jersey. The platform was already live in Michigan, Pennsylvania, West Virginia and the Canadian province of Ontario.
Caesars said in a LinkedIn post: “We are excited to announce that Horseshoe Online Casino is officially live in the Garden State. New Jersey is the fifth jurisdiction where the cutting-edge online casino app and desktop platform is live in. Players on Horseshoe Online Casino in the US can earn Reward Credits through their play that can be redeemed for exclusive experiences at more than 50 world-class Caesars Rewards destinations including Caesars Atlantic City, Harrah’s Resort, and Tropicana Atlantic City.”
#M&A & Finance
13.?? Bet-at-home weighing sale, sources say
The bet-at-home Group is reportedly in the market for a buyer, according to information obtained by NEXT.io.
However, multiple industry sources indicate the company has yet to secure a suitor.
This marks bet-at-home as the second Germany-focused operator exploring the possibility of a sale in recent days.
Bet-at-home was founded in 1999 in Wels, Austria, by Franz ?mer and Jochen Dickinger. The company has been listed on the Frankfurt Stock Exchange since 2004.
14.?? Blackstone preps banks to price CIRSA for Madrid IPO in early 2025
PE giant Blackstone is ready to shake up Spanish gambling by listing CIRSA SA on the Bolsa Madrid exchange in early 2025.
New developments were cited by Spanish business news source Expansión, reporting that “Blackstone has enlisted a fleet of banks” to capitalise CIRSA’s Madrid IPO.
CIRSA has been under Blackstone’s ownership since 2018. The PE fund acquired the gambling group from founder Manuel Lao Hernandez for €2bn to continue building its European gambling portfolio. Following its corporate reorganisation, CIRSA has outperformed market expectations since 2022. The company is on track to deliver full-year 2024 targets of net revenues of over €2bn, an EBITDA of €680–710m, and a leverage ratio of 3.7x–3.9x.
15.?? Rivalry raises nearly C$2m in private placement amid strategic shift
Canadian operator Rivalry has raised approximately C$1.94m through the initial tranche of a non-brokered private placement.
The funds were secured via the issuance of 12,930,707 units at C$0.15 per unit.
Proceeds will support the company’s corporate development initiatives and general working capital needs.
“This initial tranche of our non-brokered private placement was primarily subscribed to by insiders, family and friends, and long-term shareholders,” said Rivalry co-founder and CEO Steven Salz.
#Legal & Regulation:
16.?? KSA issues penalty orders against Techno Offshore and Novatech Solutions
The Dutch Gambling Authority (KSA) has issued penalty payment orders to Techno Offshore and Novatech Solutions for offering illegal gambling services to Dutch players.
The companies – which operate websites such as simplecasino.com, nolimitbet.com, qbet.com and 55bet.com – are accused of violating Dutch gambling laws by targeting players without holding the required KSA licence.
Under the penalty orders, the companies must immediately cease their activities in the Dutch market and ensure continued compliance. Failure to do so will result in fines of €280,000 ($295,000) per week, up to a maximum of €840,000.
17.?? Dutch gambling operators launch their own weapon against Illegal offerings
Two operator associations have launched a new reporting system to highlight the risks posed by illegal gambling. Amid growing concerns about the effectiveness of enforcement against illegal gambling in the Netherlands, two trade bodies have decided to take action of their own. They have created a new reporting portal to help identify offenders and flag up concerns.
The Netherlands Online Gambling Association (NOGA) and Vergunde Nederlandse Online Kansspelaanbieders (VNLOK) have launched the Meld Vals Spel (False Gambling Reporting Point), which can be used by any licensed gambling operator as well as by partners and professional stakeholders.
Located at Meldvalsspel.nl, the portal allows users to report high-risk practices detected at illegal gambling websites or apps. They can use the site to report, for example, player protection issues, excessive bonuses or sites that do not undertake age verification.
18.?? Denmark regulator opens applications for land-based bingo licences
Spillemyndigheden, the gambling regulator in Denmark, yesterday (21 November) opened the licence application process to offer land-based bingo in the country.
Companies which apply for a licence to offer land-based bingo in Denmark will be guaranteed authorisation from 1 January 2025 onwards, as long as their applications are filled in correctly and all relevant information is supplied.
Should Spillemyndigheden require additional information, the regulator can issue special permits with certain conditions while the remaining detail is submitted.
The licence to offer land-based bingo will last for up to five years at a time.
19.?? Marcus Boyle to step down as UKGC chair in January 2025
Marcus Boyle will step down as chair of the UK Gambling Commission (UKGC) on 31 January 2025.
The UKGC credited Boyle with leading the organisation through a period of change in the industry and regulatory landscape over the past three years.
During his tenure, the Commission reached several key milestones, including the awarding and launch of the fourth National Lottery licence, which has driven funds raised for good causes to exceed ￡50bn.
Boyle also oversaw critical steps in implementing the Gambling Act Review and White Paper aimed at reducing gambling harm, as well as leading the recruitment of a new Board of Commissioners.
20.?? UK gambling industry faces $100 million-plus annual levy to tackle harms
Casinos and bookmakers in Great Britain will be required to contribute ￡100 million ($125.6 million) annually to fund research, education, and treatment for gambling-related harms under a new statutory levy set to take effect in April.
The levy, part of government plans announced by Gambling Minister Baroness Twycross, replaces the current voluntary donation system, ensuring mandatory contributions from industry operators. The initiative also introduces stake limits for online slot games, ￡5 ($6.3) per spin for individuals aged 25 and over and ￡2 ($2.5) for those aged 18–24, to mitigate gambling-related risks among younger players.
Under the proposed levy, firms will pay on average 1% of their gross gambling yield—the revenue generated from gamblers in Britain. The levy will be charged at a set rate for all holders of a given Gambling Commission license, ranging from 1.1% to 0.1% of Gross Gambling Yield (GGY), or equivalent, depending on the sector.
#Tech:
21.?? bwise Media Unveils Cutting-Edge Betting Widgets Amid Brazil’s Bonus Ban
Brazil’s recent ban on bonus promotions in betting advertisements presents an immediate challenge for gambling operators looking to navigate the country’s rapidly evolving regulatory landscape. However, for bwise Media, this shift signals a significant opportunity to redefine how operators engage with audiences in this lucrative market.
With Brazil’s burgeoning online betting market set to officially launch in January 2025, operators must adapt quickly to remain competitive. The bonus ban—aimed at curbing impulsive gambling behaviour and protecting vulnerable populations—means traditional promotional strategies are off the table. But innovation never is.
bwise’s Dynamic Odds Widgets: A Game-Changing Alternative
bwise Media has developed dynamic odds widgets, a fully customisable solution that offers more than just a replacement for bonus-based advertisements. These widgets seamlessly integrate into publisher platforms, including high-traffic sports apps and websites, and deliver exceptional performance.