Interwetten, one of Europe’s biggest operators of sports betting websites and online casinos, has announced the signing of a strategic partnership agreement with Mindway AI, a leading provider of innovative responsible gaming solutions.

The signing of this partnership agreement was described by Mindway AI in a press release as “a significant milestone” for the gaming industry because it brings together two of the most powerful companies in their sectors.

The collaboration between the two companies will see Interwetten integrate the advanced technology provided by Mindway AI in its online gaming platforms, reinforcing the operator’s commitment to providing a safe environment for its customers.

Mindway AI started out in Denmark in 2018 from the work of Professor Kim Mouridsen at Aarhus University, applying insights from neuroscience research to AI technology with the aim to provide better player protection in online gaming.

The incorporation of the solutions provided by Mindway AI into Interwetten’s platform means that the online casino and sports betting operator will be able to proactively identify at-risk players and take the necessary and appropriate measures to create a safer gambling environment and a more responsible experience.

Rasmus Kjaergaard, the current Chief Executive Officer of Mindway AI, pointed out that the partnership with Interwetten is perfectly aligned with his company’s main goal which is to promote responsible gaming practices and set new standards for the industry in this field.

A Very Experienced Operator

Interwetten has loads of experience on the market, the company was founded all the way back in 1990 in Vienna focusing solely on sports betting and accepting wagers via telephone. In 1997 the company managed to launch one of the first sports betting websites in the entire world and later expanded its offering to include online casino entertainment and live casino as well.

Interwetten has moved its headquarters to Malta and it has been licensed by the Malta Gaming Authority since 2005. Moreover, the company obtained a license in Germany in 2020 and also managed to pass licensing procedures in Greece, Spain, Ireland and Sweden.

The integration of the GameScanner feature offered by Mindway AI represents a proactive step taken by Interwetten towards ensuring a secure and responsible gambling environment for its customers while also trying to keep the online gambling experience exciting and enjoyable.

Source:

“Mindway AI and Interwetten Forge Strategic Partnership to Boost Responsible Gaming Efforts“. Mindway AI. March 18, 2024.

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Bet365, one of the world’s biggest online sports betting and casino brands, officially announced its launch in the American state of Indiana, in partnership with the French Lick Resort.

Bet365 was founded in 2000 as part of the complete online gaming offering from British company Bet365 Group Ltd. The company’s operations include a great variety of casino, poker, sports, skill and bingo games.

Indiana became the eighth state in which Bet365 managed to expand in the United States, following launches in Kentucky, Louisiana, Virginia, Ohio, New Jersey, Iowa and Colorado.

The company issued a statement through a spokesperson, promising players in Indiana “market leading offerings like amazing Bet Boosts, the fastest In-Game product and unique Same Game Parlays.”

The statement acknowledged that the state of Indiana is the home of the very first professional basketball game in the United States and that sports fans in this region are “renowned for their passion and loyalty.”

In December 2023, the Indiana sports betting industry reported adjusted gross revenue of 50.6 million dollars, a new monthly record for the state, while the handle went up to 503.1 million dollars, the second highest monthly amount since the state opened its legal sports betting market in September 2019.

Support for Online Casinos in Indiana

The state of Indiana still does not allow online casinos to operate legally within its boundaries, but that might change sooner rather than later as more and more entities support the legalization process.

In fact, a report commissioned by the Indiana Gaming Commission and conducted by Spectrum Group has found that the iGaming industry in the state could be able to generate revenue of up to 2.1 billion dollars over the first three years after legalization.

The study has also indicated that iGaming tax revenue over the first three years following legalization could amount to 929 million dollars for the state of Indiana. That prediction also represents a 5 percent increase on the estimations made in the previous report.

The introduction of legal online gambling has been discussed for quite some time in Indiana, with opponents claiming that online casinos would affect the activity of the land-based casinos in the state. However, the report sustains that iGaming did not have a negative impact on the more traditional forms of gaming in other American states where it was successfully introduced.

Source: “Bet365 Announces Official Launch in Indiana“. European Gaming. February 1, 2024.

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America’s biggest online poker site, ACR Poker, has announced its largest tournament in history will be held this spring, between April 14 and May 1. 

Fans of the popular online Venom tournament will get a chance to try their luck and grab a share of the juicy $12.5 million guaranteed prize pool, which is the biggest in the history of the tourney’s five-year history. 

$12.5 Million GTD Venom’s Final Table, Live on Twitch

$12.5 Million GTD Venom, which will mark the biggest online poker tournament that US players have witnessed in the past decade and a half, will benefit from live commentary from industry pros. 

Other poker guests will join producer, broadcaster, and poker commentator Justin Kelly in making live comments during the tournament’s Final Table on ACR Poker’s official Twitch channel on Wednesday, May 1 starting at 4:05 pm ET.  

10537 players claimed the offer this month

The event will kickstart on Sunday, April 14, which will mark the first of five Day 1 options. 

Day 2 will be on Monday, April 29 while Day 3 will be on Tuesday, April 30. Players who 

qualify for Day 2 are not allowed to sign up for any other Day 1 flight. The tournament does not offer the option to play a separate Day 1 after a player has qualified to obtain a bigger stack. 

The buy-in has been set to $2,650 but poker players eager to participate will be given more affordable alternatives to grab a seat, including the Beast and Step tourneys and the Venom Fever satellites. 

Multiple Millionaires to Be Crowned 

The tournament had its debut in 2019 with a $5 million guaranteed prize pool, followed by twice as much just two years later. Now, ACR Poker has announced they are “about to do the unimaginable, unthinkable, unmissable!”

This year’s winner of the Venom’s 5th Anniversary tournament will go home with a guaranteed prize of at least $1 million. 

The milestone event is also expected to generate several millionaires while enabling aspiring players the chance to follow in the footsteps of last year’s champion Brandon Lulov aka S3L3NAGOM3ZZ. 

The US poker pro scooped up close to $1,578,000 after he navigated through the Final Table where he sat next to other iconic names in the industry including ACR Pro John Van Fleet aka Apestyles or high-stakes pro player Chris Hunichen aka 2Rich2Care. 

ACR Pro Chris Moneymaker commented on the upcoming tournament, saying that the $12.5 million that is up for grabs and the numerous qualification opportunities “for as little as $0 through freerolls and satellites” make it the best time to take a seat at the tables.

Earlier in the month, ACR Poker announced the eighth edition of its Venom PKO tournament.

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Online gambling giant 888 Group has confirmed a wave of job cuts in Israel as part of its broader organizational restructuring, impacting dozens of its regional employees. This move follows a similar round of layoffs in the country last January. Such events are rarely a good sign, but 888 should still be able to recapture its momentum and have a successful year.

The Group Commands a Sizeable Worldwide Presence

The 888 Group, with a total workforce of 11,000 individuals, including 500 in Israel, is undergoing significant changes in its operational structure. With dozens of job cuts, the company has joined a growing list of high-tech businesses that have reduced their workforce in the country, whether due to regional instabilities or rising macroeconomic pressures.

An 888 Group spokesperson commented on the layoffs, noting they were part of a broader organizational restructuring. The company aims to advance its long-term strategic plans, better positioning it for enduring success. 888 stated it would ensure the affected personnel would achieve adequate support to adapt to these changing circumstances.

Unfortunately, some of our positions in Israel have become redundant. We will offer our full support to those colleagues who were affected by the move.

888 Group statement

Exactly one year ago, the company went through another significant round of layoffs, reducing its 590 staff by almost 100. 888 again justified the move with an increasingly challenging operational environment, hoping to achieve cost reductions in all the company’s branches. The Group did not comment on whether it planned any additional layoffs.

The Layoffs Are Another Troubling Sign for 888

888 Group’s 2021 acquisition of William Hill added significant operational and regulatory complexity to its worldwide operations, necessitating the ongoing restructuring. However, the process has not been kind to the company, as disappointing financial results have damaged investor confidence. These results may indicate an unfortunate trend for the company as 2022 saw another 7% slump.

Despite ongoing difficulties, 888 maintains a positive outlook, reaffirming its efforts to promote responsible gambling across its retail business as it adapts to shifting regulatory landscapes. While 888 Group seeks to optimize its structure for long-term success, the impact on its workforce reflects the broader trend of companies in the gambling industry adjusting their operations to stay agile and competitive. 

As 888 Group moves through this restructuring phase, the industry will watch how the operator navigates the challenges posed by recent acquisitions, positioning itself for sustained growth in an increasingly competitive market. Recent high-level leadership shifts should provide fresh perspectives, hopefully reversing the negative trend and allowing 888 to better capitalize on its global presence.

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The new division, Hard Rock Games, operating under the umbrella of Hard Rock Digital, will focus on creating free-to play online and mobile games that may one day lead to fully-fledged gaming experiences for the online casino operations of the company.

Hard Rock Games to Focus on Social Gaming Growth

Hard Rock Games is created in the wake of the WGames acquisition, a developer of mobile games, which will now give the new division a strong purchase in this new and exciting journey.

Hard Rock Digital executive managing director Rafi Ashkenazi was excited at this new opportunity and said that the company was looking to create world-class games that would help accelerate the social gaming business for the company.

“Hard Rock Games’ enhanced capabilities will allow us to better engage our worldwide player communities with exceptional digital experiences and entertain our players like no one else can,” added Ashkenazi.

Hard Rock Games is openly expanding into the vertical with WGames’ assets, which include proprietary in-house technology that will help boost the growth in the social gaming sector for the newly-setup studio as well.

WGames founder, Daniel Kajouie, who will continue to work on the division through Hard Rock Games, and serve as the managing director for the newly setup social gaming arm, said that he was confident in this new alliance and working under the Hard Rock roof, expressing high hopes for the future and what it may bring to players worldwide, not just in the United States.

Exploring the Potential of Online Casino Gaming

In the meantime, the Hard Rock Bet launched its sports betting operations in Florida, after a prolonged legal fight with several plaintiffs who have alleged that mobile gambling launched under a tribal compact between the state and the Seminole Tribe was unconstitutional.

Hard Rock has got the better of that exchange, although the app launched after a two-year delay, and after it was originally introduced in 2021. The local brand may also consider launching online casino games of chance, although this is still highly speculative at the time of writing.

Having access to an established and dedicated in-house social gaming studio, though, would certainly give the brand a lot more breadth when it considers its next iGaming move.

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Gaming Innovation Group, a company offering cloud-based product and platform services and performance marketing to clients within the iGaming industry, has announced the completion of its latest bond issue.

According to the company’s official announcement, it has successfully completed the issuance of 3-year EUR 75 million ($81 million) equivalent senior secured bonds. The bonds are split in a EUR 45 million ($48.5 million) and a SEK 350 million ($33.5 million) tranche and have a combined borrowing limit of EUR 100 million equivalent.

As noted by the company, the proceeds of this issuance will be used to call the company’s outstanding SEK 550 million bond in full. In addition, the money will help GiG fund its acquisition of KaFe Rocks. The money will also contribute to the company’s general corporate purposes.

GiG added that a call notice for the existing SEK 550 million bond will be sent shortly. In the meantime, GiG will apply for its new bond to appear on the Nasdaq Stockholm and Frankfurt Stock Exchange Market.

GiG also pointed out that its new bond has been well received among its investors in multiple regions, including the Nordics, Continental Europe and the United States. The company mentioned that both existing and new investors participated in the placement of the transaction.

Finally, GiG mentioned that ABG Sundal Collier and Pareto Securities acted as joint managers and bookrunners for the placement of the new bond issue.

Other GiG Developments

A month ago, GiG set out to acquire KaFe Rocks in a new EUR 35 million (approximately $37.4 million) acquisition deal. The deal is in line with the former party’s goal to become a leading generator in the iGaming market and expand its presence across the NA region.

Around the same time, GiG also published its Q3 results, reporting impressive momentum and growth across multiple metrics. The company’s quarterly revenue reached an all-time high of €31.8 million ($33.92 million), reflecting an impressive 39% year-on-year growth.

In early November, GiG also agreed to integrate the leading Jackpot Management System provided by Jooba Tech into its platform, allowing it to better serve its global network of iGaming operators.

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The independent, 2021-founded gaming studio based in Krakow led by a “team of experts driven to lead the slot industry with innovative products”, Nailed It! Games, has announced the worldwide launch of Cosmic Coins via the Games Global network, following the exclusive release that took place on October 16. 

The 5×3 slot with 20 paylines is a nice mix between the state-of-the-art Epic Strike mechanic that allows players to incrementally boost the prize ladder and the vintage-style amusement with prize (AWP) slot machines back in the day.

Cosmic Coins Metrics Overview

• Rows: 3
• Reels: 5
• Paylines: 20
• Volatility: Medium
• Max multiplier: 2,000x
• RTP: 96.24%
• Hit frequency: 39.75%
• Min/Max Bet: 0.2-120
• Release date: December 4, 2023

Epic Strike, Instant Cash Prizes, and Free Spins with Multipliers 

The slot cleverly reunites modern-day mechanics and game features with classic ATW symbols showcasing a rich plethora of fruit icons including cherries, single, double, and triple sevens, BARS, and purple and green gems.

The low-paying symbols are represented by the BARs, cherries, and colored gems, which pay between 0.25x and 1x and 0.50x and 3.25x the bet. 

The three different types of sevens are the high-paying symbols and they can generate payouts of up to 2.50x and 37.50x the bet. 

Players must land three matching symbols to score a win. The Wild symbols are represented by diamonds and they replace the rest of the pay symbols in winning combinations. 

The wilds also have their payouts. Players who land three wilds are rewarded with 6.25x their bet. Getting a full combination of five wilds will increase the win to 125x the bet.

To receive an instant cash prize, players must keep a close eye on the cosmic coin symbols and land a minimum of three anywhere on the reels. 

The more of these symbols you can land, the faster you will progress up the incrementally increasing ladder with prizes thanks to the Epic Strike mechanic. 

Nine cosmic coins will lead to a massive reward of 2,000x. To trigger the Free Spins round, you need at least three scatters. The fun begins with a wheel you need to spin for a chance to win up to 30 free spins featuring a 3x multiplier. 

The bonus can be retriggered with the help of three additional scatters while engaged in the Free Spins round. 

The Slot “Builds Anticipation for a Big Win Every Spin”

As explained by Nailed It! Games’ co-founder, Paweł Piotrowski, the game’s coin collection mechanic “builds anticipation for a big win” with each new spin while the multiplier of the bonus round boosts the overall winning potential. 

Piotrowski also expressed confidence regarding the slot’s potential to appeal to all types of players thanks to the excitement it has to offer as well as the nice blend of “retro and contemporary elements”. 

In July, the studio launched Dog Days and CatPurry, followed by Rainbow Burst in September and Grim Reaper Supermatch in October.

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Scatters Club, a global gambling community of live streamers and slot game enthusiasts, will host an online Streamers Awards event for the first time since the group’s establishment. The event, designed to highlight top streamers in the community, will collect nominations from December 4 to December 30, 2023 with top five streamers to be proclaimed on February 1, 2024.

Scatters Crown Trophy

The Streamers Awards event will evaluate the creative achievements of gambling streamers and have the selected performers qualified for the audience’s love award and the Scatters Crown Trophy. All players and the club’s site visitors are invited to nominate their favorite streamers on the platform. The platform also allows self-nominations of streamers in the creative achievement category.

Award Categories

Scatters Club announces that nominations for the unique award will be open from December 4 to December 30,2023 for international applications in the categories as follows:

• Most Hilarious Reaction to a Win
• Most bright Reaction to a Lose
• Most bright Reaction to a Lose
• Coolest Background
• Craziest Outfit
• Best Streamer Collaboration
• Community Champion
• Rising Star in Gambling Streaming
• Most Responsible Streamer
• Everyone’s Favorite Gambling Streamer
• The Best Female Streamer

Voting Period

Upon the closure of the application period, the eligible applications will be classified into the respective categories to be prospectively nominated for the awards. The vote-casting period begins simultaneously to invite all players to vote for their favorite streamers on a dedicated web page. Based on these votes, each category will have its TOP-5 streamers shortlisted and the leaders in various nominations will be determined by further public votes.

Award Ceremony

As the voting process focuses only the shortlisted candidates, the special jury will make the final choice and unveil the winners in a live session on February 1, 2024. The jury will then crown the winners with the Legend of the Year title based on the stats provided by a Scatters Club’s partner Casinolytics.

Special Jury and Famous Guests

During the voting period from December 8, 2023 to January 30, 2024, the audience can try to predict the winners and place their bets on the web page. The winners will be announced online on February 1, 2024. The live event will be attended by a secret host invited by Scatters Club to make a special contribution to the image of the Streamers Award ceremony. Also, famous gambling streamers will make guest appearances to announce the nominees and the winners chosen by a special jury.

Their names will remain secret and will be revealed during this fantastic event to spice up the thrill of this unprecedented gaming experience.

Source: “Calling All Gamblers: Scatters Club to Host First-Ever Gambling Streamers Awards”. EuropeanGaming. December 4, 2023.

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The Netherlands’ gambling regulator, Kansspelautoriteit (KSA), announced a probe into slot machine arcades in the country. Set to be carried out from mid-December, the inspections will check if operators are compliant with the local regulations.

The KSA warned that the inspections will pay particular attention to the implementation of social responsibility measures. In line with the regulations introduced on April 1, 2021, the KSA will inspect whether gambling arcades across the Netherlands have sufficient player safeguards to prevent and minimize gambling addiction as much as possible.

KSA supervisors will carry out checks on, among other things, compliance with the requirements of addiction prevention.

KSA statement

The KSA added that it will publish an update on the situation following the conclusion of the audit period. As reported by the authority, it will update Dutch consumers on the findings of the inspections and will highlight areas that require improvement.

The KSA concluded that it will also adjust its guidance if needed. The update will be also published on the regulator’s official website after the audit period.

KSA Issued a Huge Fine to Betent

The Kansspelautoriteit continues its vigilant watch over the Dutch market. The authority just issued a huge EUR 3 million fine to Betent for AML and CTF violations. As reported by the regulator, Betent, which operates the Betcity brand in the country, was issued a warning in September 2022. The operator was asked to improve its know-your-customer processes and prevent money laundering.

However, the KSA learned that Betent had not implemented the required measures and remained lax in requesting sources of income from its customers. In addition, when it intervened, it did so too late.

René Jansen, the chairman of the Kansspelautoriteit, noted that licenses had been warned to get their AML and CTF procedures under control, lest they face fines. He noted that the Netherlands’ gambling market is past the startup phase, meaning that such violations are no longer excusable.

Jansen is set to depart from the authority, which is currently on the lookout for his successor.

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Kindred Group has published its unaudited interim report for the period from January to September 2023. Revenue in the third quarter remained stable, leading to positive year-to-date results.

In Q3, Kindred’s revenue reached GBP 283.9 million (roughly $360 million), representing an increase of 2%. Gross winnings revenue from the business-to-customer division increased by a single percent to GBP 274.7 million ($348 million). In the meantime, underlying EBITDA increased by 6% to GBP 42.6 million ($54 million).

Kindred also reported that profit before tax and profit after tax were GBP 15.1 million ($19.1 million) and 12.6 million ($16 million), respectively. Earnings per share in Q3 reached GBP 0.06 ($0.076) and the company recorded a 7% increase in active customers (now 1,563,762).

The company reported a decline in cash flow, which amounted to GBP 24.5 million ($31 million) at the end of the quarter.

The year-to-date revenue stands at GBP 897.6 million ($1.137 billion), representing an 18% increase. Gross winnings from the B2C segment increased by 16% to GBP 870.3 million ($1.1 billion), while underlying EBITDA increased by 64% to GBP 147.7 million ($187.2 million).

Profits before and after tax for the year-to-date period were GBP 78.6 million ($99.6 million) and 65.9 million ($83.5 million), respectively. Earnings per share reached GBP 0.30 ($0.38). The overall free cash flow for the period was GBP 56.5 million ($71.6 million).

Kindred added that it expects FY 2024 underlying EBITDA of GBP 250 million ($317 million). The company is still assured that it will achieve its EBITDA target of GBP 200 million ($253.5 million) in 2023.

Kindred to Exit North America & Lay Off Workers

Nils Andén, Kindred’s interim chief executive officer, commented on the results, reporting continued growth in Kindred’s casino segments in the UK and Netherlands. Despite that, the company was set back by a number of regulatory challenges.

While the company remains a leader in the Netherlands, its sports betting business underperformed, leading to suboptimal overall performance. Still, Andén expects Kindred to meet its EBITDA target unless it is further set back by unimpressive activity within the betting sector.

In the meantime, Kindred continues its strategic review as the company seeks to improve shareholder value through a third-party transaction. CEO Andén used the opportunity to announce two major operational initiatives, including the company’s controlled exit from the North American market, a reduction in headcount and operational costs and an increased focus on core markets.

Taken together, expected annualized gross cost savings from exiting North America and reducing headcount and other operational costs are estimated to be approximately GBP 40 million.

Nils Andén, CEO, Kindred

Andén is confident that Kindred is in a good position to do better and deliver favorable growth across its core markets.

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