Not everyone has been welcoming of the porposal and the American Gaming Association, a trade group, curtly rebuked the legislation in its current form. A measure such as that would further depress the competitiveness of the regulated gambling market, and give teeth to rogue and black market operators.

Not Part of the Pack

But this prospect does not seem to worry at least one company in the industry’s corner which remains non-chalant at the prospect of losing its keen edge to the black market. For now, though, Underdog Sports is leading a lonely club of operators that are plumping for the GRIT Act as outlined earlier.

The operator echoes the sentiment expressed earlier this year by the National Council on Problem Gambling (NCPG), arguing that the measure is a cleverly designed federal law that will help fill the current funding gap in the prevention and treatment of gambling addiction and research.

Underdog spoke exclusively with Sports Handle outlining its support for the GRIT Act and why it believes it is the right thing to do moving forward. In a statement to the publication, Underdog Sports VP of responsible gambling Adam Warrington said:

“There is a need for dedicated federal resources to aid problem gambling prevention, research, and treatment. The GRIT Act would direct existing tax dollars paid by legal operators to be utilized to fill the current funding gap.”

Would this see more operators follow suit? So far the response has been tepid, with responsible gambling campaigners and organizations, such as the aforementioned NCPG, showing a degree of partialness towards the matter.

Operators have mostly mummed the word as if waiting for an official cue. One such has come from AGA, criticizing the GRIT Act and warning about the dangers of passing legislation without a broader collaboration between lawmakers and authorities.

Sorely Needed Action Now

Underdog Sports’ perspective is a refreshing take on the issue, but it’s a lone voice for the time being. For actual industry reading to be made, there will have to be more companies that speak up about where they stand on the matter.

It is not very likely to see individual operators hew too far from the position outlined by AGA, but Underdog Sports is already bucking the trend which will most likely beget a broader debate, and set a healthy precedent.

Some lawmakers have already voiced their concern about the lack of adequate measures to curb problem gambling in the United States, with Congresswoman Andreas Salinas sounding the alarm over the lack of adequate measures.

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ARC Gaming and Technologies, formerly known as Lucky Bucks, has filed a RICO lawsuit against its former executives, accusing them of orchestrating a massive fraud scheme that allegedly siphoned off around $200 million from the company before its bankruptcy. 

Lawsuit Unveils Alleged Systematic Looting of Lucky Bucks by Former Executives

The lawsuit, which was announced on January 2, alleges that the accused individuals engaged in a systematic looting of Lucky Bucks, diverting funds through various illicit means. Lucky Bucks, a major player in Georgia’s coin-operated amusement machine industry, filed for Chapter 11 bankruptcy in June 2023, citing increased competition and regulatory pressures.

ARC Gaming and Technologies claims that the defendants, including founder Anil Damani, Tony Kassam, and Imran Ali, orchestrated a complex scheme involving fraudulent transactions, misappropriation of trade secrets, and breaching fiduciary duties. 

The lawsuit also alleges that the former executives utilized shell companies and competing businesses under their control to divert contracts and assets away from Lucky Bucks.

The company accuses Damani and his associates of borrowing hundreds of millions of dollars from lenders, only to distribute the majority of the funds among themselves. The complaint further details instances of selling customer contracts back to Lucky Bucks at inflated rates and the removal of serial numbers from machines before selling them in various states.

ARC Gaming Seeks Redemption After Restructuring Triumph

The lawsuit was initiated after a comprehensive investigation by industry professionals hired by new shareholders in September 2023 to review Lucky Bucks’ operations. Forensic investigators and litigation case analysis, combined with employee interviews, contributed to the formal complaint being filed.

Despite Lucky Bucks successfully emerging from Chapter 11 bankruptcy in October 2023, ARC Gaming and Technologies is determined to hold the former executives accountable for their alleged criminal activities. The company aims to recover the stolen funds and assets, including $200 million in what they describe as “fraudulent and illegal dividends.”

Anil Damani, the founder and former owner, denies all allegations, stating that the claims are baseless and frivolous. Damani’s attorneys assert that he is a successful businessman and a pillar of the community, expressing confidence in defeating the claims in court.

As legal proceedings unfold, ARC Gaming and Technologies remains focused on its future, having completed a successful restructuring process and positioned itself as a strong contender in the Georgia coin-operated amusement machine industry. The company is set to announce new appointments for key executive positions, ensuring a dedicated management team committed to responsible governance and growth.

The post Lucky Bucks Alleges Former Executives in $200 Million Fraud Scheme appeared first on Keno Wizard.

Yggdrasil, the leading publisher of iGaming content that “breaths innovation” and pushes boundaries, has once again joined forces with the Sydney-based creator of high-quality digital gaming content best known for the original Infinity Reels, ReelPlay. 

The two released Bucks and Does 10K WAYS, a fresh slot with a hunting theme at the center that packs plenty of bonus respins and a buy feature. 

In April, the two partners released Cluster Pays Slot Hyper Respins, following the launch of Big Bucks Buffalo GigaBlox in March, to name just a couple of other successful collaborations between Yggdrasil and ReelPlay. 

The new game with a hunting theme at the center packs plenty of bonus respins and a buy feature, guaranteeing a wild and epic experience. 

Bucks and Doe 10K WAYS Metrics Overview

• Reels: 6 
• Rows: 4
• RTP: 96.1%
• Hit frequency: 28.65%
• Max multiplier: X6,116
• Max win: €243,150 
• Bet: min: €1 (min: €0.20, max: €40)
• Volatility: Medium-High
• Release date: July 18, 2023

The Slot, “Another Fantastic Collaboration” Through the GATI Program

Yggdrasil’s chief gaming officer, Mark McGinley, spoke about ReelPlay’s 10K WAYS mechanic, describing it as “exemplary” and explaining how it added a new angle to their YG Masters portfolio.

McGinley further spoke about the latest release as “another fantastic collaboration” via GATI, their dedicated technology that allows partners to use preconfigured, regulation-ready, and fully standardized development toolkits to generate content that is rapidly distributed.

ReelPlay’s chief executive officer, David Johnson, praised their 10K WAYS series’ ability to get “stronger with every release” while mentioning the Bonus Respins’ huge win potential thanks to the available modifiers. 

Finally, Johnson explained that, combined with the one-of-a-kind theme, the game is prone to turn into another precious addition to their partners’ portfolios.

Get Ready for a Chain of Explosions

The action takes place in a woodman’s cabin and wild bears are seen roaming around. The images are nicely rendered while the sounds create an even more authentic hunting atmosphere.

The game packs as many as 10,000 ways to win. Each of them brings players a chain of explosions consisting of extra wins including the Bonus Respins feature that features impressive prizes.

To trigger the Bonus Respins feature, players must land at least three Scatter symbols where animals are turned into Prize symbols. Deer, Elk, and Moose can reveal winnings of 1x to 100x, 150x, and 200x while hitting the juicy Trophy Bonus prizes will generate the ultimate reward of 2,000x. 

For even more rewarding wins, players need to keep a close eye on the special Bear, Hunter, and Ammunition symbols.

In some jurisdictions, players are allowed to quickly progress to the Bonus with the help of one of four available bonus buy options. Last week, Yggdrasil released Mayan Waterfalls via Thunderbolt Gaming, following the June launch of Starfire Fortunes TopHit, debuting its 10th game engagement mechanic, TopHit.

The post Yggdrasil and ReelPlay Launch Bucks and Doe 10K WAYS with Up to 10K Ways to Win appeared first on Keno Wizard.

Milwaukee’s superstar Giannis Antetokounmpo was struggling with injury, which is why he missed two of the playoff games. He made his comeback on Monday with a decent performance, but that didn’t help the Bucks avoid losing. Now, he needs to do even better to help his team stay in the playoffs. So, can they beat the Heat on Wednesday evening?

Miami Heat vs Milwaukee Bucks Odds

*Odds taken from bet365 on Tuesday, April 25, 2023.

When, Where, and How to Watch?

• Place: Fiserv Forum in Milwaukee, Wisconsin
• Date: Wednesday, April 26, 2023
• Time: 9:30 PM ET
• How to Watch: NBA TV

The Heat Might Not Be Too Great Away from Home

The Miami Heat are 3-1 in the playoffs, with two of those wins happening in Florida. Now, they’re traveling to Wisconsin, which is where they won one game of the series. It happened last week, and it was their first win at Fiserv Forum since October 2019.

In fact, the Heat aren’t famous as a team that usually does well on the road. In the regular season, for example, they went 17-24 in away games. In comparison, their home record was 27-14.

Giannis Is Back!

Giannis Antetokounmpo is back after missing two games. On his comeback, the Greek Freak scored 26 points, while also recording 10 rebounds and 13 assists. It wasn’t enough to save his team from losing – the Heat beat them 119-114.

Giannis did well, but he wasn’t the Bucks’ top scorer that day. Instead, it was center Brook Lopez who scored 36 points. Jrue Holiday and Khris Middleton also did okay, but they will need to up their form even more in order to get a win on Wednesday.

Miami Heat vs Milwaukee Bucks Prediction

The Milwaukee Bucks have no other option but to give their utmost on Wednesday. And when give their maximum, they usually win. That said, we expect them to blow out the Heat, covering the spread along the way.

Pick: Milwaukee Bucks to win and cover the spread.

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