market Archives - Keno Wizard https://kenowizard.com/tag/market/ The Ultimate Keno Destination for Odds, Tips & Tricks Thu, 25 Jul 2024 18:38:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 market Archives - Keno Wizard https://kenowizard.com/tag/market/ 32 32 230792155 Q1 2024 Marks Surge in Ontario’s iGaming Market https://kenowizard.com/2024/07/25/q1-2024-marks-surge-in-ontarios-igaming-market/ https://kenowizard.com/2024/07/25/q1-2024-marks-surge-in-ontarios-igaming-market/#respond Thu, 25 Jul 2024 18:38:10 +0000 https://kenowizard.com/2024/07/25/q1-2024-marks-surge-in-ontarios-igaming-market/ The first quarter of the fiscal year 2024-25 has been stellar for Ontario’s iGaming industry, as reported by iGaming Ontario. The period spanning April to June 2024 witnessed substantial activities across the province’s regulated online gaming platforms, involving 50 operators. Martha Otton, Executive Director at iGaming Ontario, commented on the sector’s growth: “Our regulated iGaming [...]

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iGaming-Ontarios-FY-2024-25-Q1-Market-Performance-ReportThe first quarter of the fiscal year 2024-25 has been stellar for Ontario’s iGaming industry, as reported by iGaming Ontario. The period spanning April to June 2024 witnessed substantial activities across the province’s regulated online gaming platforms, involving 50 operators.

Martha Otton, Executive Director at iGaming Ontario, commented on the sector’s growth: “Our regulated iGaming market, with its expanded operator base and increased wagering, offers a myriad of enjoyable gaming options. This growth not only enhances the gaming experience but also substantially contributes to provincial funds aimed at infrastructure, healthcare, and education.”

Performance Metrics and User Participation

The market experienced a total wagering sum of $18.4 billion, showing a growth of 3.4% from the previous quarter and a 31% increase from the first quarter of the previous year. Gaming revenues were equally strong, with a total of $726 million recorded, marking a 5.2% increase quarter-over-quarter and a 34% increase year-over-year. These revenues are calculated from total cash bets, inclusive of various game-related fees, and are net of payouts to players, excluding operational expenditures.

The user engagement was robust, with nearly 1.9 million player accounts active during the quarter. These accounts include both cash and promotional betting activities, and the figure does not represent unique individual players as some hold accounts across multiple platforms. The average monthly spend by these players was approximately $284.

Gaming Categories Detailed

In terms of wager distribution, casino games led the pack. These games, which include slot machines, digital and live table games, as well as peer-to-peer bingo, commanded nearly $15.5 billion or 84% of the total wagers. They generated $529 million in gaming revenue, accounting for 73% of the total.

The sports betting segment also performed well, with a total of $2.5 billion wagered, constituting 14% of the overall betting amount and generating $181 million in revenue. Highlight events such as the Stanley Cup Final, where the Edmonton Oilers competed, significantly contributed to the wagering volume.

Peer-to-peer poker contributed $402 million to the total wagering, about 2.2% of the overall, and generated $16 million in revenue. This shows a slight seasonal dip, possibly influenced by major poker events like the World Series of Poker in Las Vegas, which typically draws players away from local platforms.

Continued Commitment and Prospects

iGaming Ontario is dedicated to maintaining transparency and accountability by regularly publishing market performance reports. These reports provide valuable insights into the market dynamics and help monitor the impact of regulatory measures on the economic benefits to the province.

Looking forward, the Ontario iGaming market is poised for continued growth, surpassing initial expectations and contributing significantly to the province’s economic and social objectives. This sector’s continued success reflects a robust regulatory environment and a diverse range of gaming options available to residents.

Source:

iGaming Ontario’s FY 2024-25 Q1 Market Performance Report, igamingontario.ca, July 24, 2024.

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RubyPlay Joins Forces with Luckia to Enter Spanish Market https://kenowizard.com/2024/07/25/rubyplay-joins-forces-with-luckia-to-enter-spanish-market/ https://kenowizard.com/2024/07/25/rubyplay-joins-forces-with-luckia-to-enter-spanish-market/#respond Thu, 25 Jul 2024 15:23:10 +0000 https://kenowizard.com/2024/07/25/rubyplay-joins-forces-with-luckia-to-enter-spanish-market/ RubyPlay, a prominent name in the gaming industry, has officially expanded its presence into the Spanish market through a strategic partnership with Luckia Gaming Group. This collaboration introduces RubyPlay’s acclaimed games portfolio to Spanish enthusiasts via Luckia’s well-established online casino platform. Game Integration and Market Expansion Among the highlighted titles debuting on the Luckia platform [...]

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RubyPlay-expands-into-Spanish-market-with-Luckia-Gaming-Group-partnershipRubyPlay, a prominent name in the gaming industry, has officially expanded its presence into the Spanish market through a strategic partnership with Luckia Gaming Group. This collaboration introduces RubyPlay’s acclaimed games portfolio to Spanish enthusiasts via Luckia’s well-established online casino platform.

Game Integration and Market Expansion

Among the highlighted titles debuting on the Luckia platform are the popular Immortal Ways® Diamonds and Mayan Cache. These games have already started to make a significant impact, resonating well with the local player base. The inclusion of these games not only broadens the variety available to Spanish gamers but also strengthens RubyPlay’s foothold in the European gaming landscape.

Eloy Fernandez, Head of Product at Luckia Gaming Group, expressed enthusiasm about the partnership, stating, “RubyPlay’s reputation for delivering award-winning and player-focused titles, such as the Immortal Ways series, makes us confident that this partnership will elevate our offering.”

Comments from RubyPlay’s Leadership

Dr. Eyal Loz, RubyPlay’s Chief Product Officer, elaborated on the company’s strategy, noting, “Our commitment to global growth in regulated markets continues, and the addition of our exciting games to Luckia’s platform is sure to capture the attention of its player base.”

This move is part of RubyPlay’s broader strategy to penetrate regulated markets globally following successful launches in other countries.

Broader Implications and Future Prospects

The integration of RubyPlay’s games into the Luckia platform is facilitated by Light & Wonder’s aggregation platform, which effectively connects players, studios, and operators. This technology ensures a seamless distribution and access to gaming content, enhancing user experience across the board.

Earlier in the year, RubyPlay expanded its reach by launching its game portfolio on Brazil’s Betsul platform and incorporating its offerings into Serbia’s MaxBet platform. Additionally, partnerships with major operators like Snaitech, NetBet Italy, PokerStars, and Microgame have paved the way for RubyPlay’s entry into the Italian market via the Playtech Open Platform (POP).

RubyPlay’s partnership with Luckia Gaming Group marks a significant step in its ongoing strategy to expand its global presence in regulated markets. With its high-quality, player-centric games now available to the Spanish market, RubyPlay is set to further cement its position as a leader in the gaming industry.

Source:

RubyPlay Expands into Spanish Market with Luckia Gaming Group Partnership, July 22, 2024.

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Balancing Regulation and Market Competitiveness https://kenowizard.com/2024/07/24/balancing-regulation-and-market-competitiveness/ https://kenowizard.com/2024/07/24/balancing-regulation-and-market-competitiveness/#respond Wed, 24 Jul 2024 13:44:19 +0000 https://kenowizard.com/2024/07/24/balancing-regulation-and-market-competitiveness/ The European Gaming and Betting Association (EGBA) has released its 2024 Sustainability Report, shedding light on the current state of the online gambling industry in Europe and emphasizing the urgent need for balanced regulation. The report is a comprehensive overview of the association’s and its members’ efforts to promote sustainable and responsible gambling while addressing [...]

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European-CEOs-share-growing-concerns-over-black-market-resurgenceThe European Gaming and Betting Association (EGBA) has released its 2024 Sustainability Report, shedding light on the current state of the online gambling industry in Europe and emphasizing the urgent need for balanced regulation. The report is a comprehensive overview of the association’s and its members’ efforts to promote sustainable and responsible gambling while addressing the growing issue of black market gambling.

Addressing Black Market Gambling

The EGBA’s report highlights a significant concern: the rise of black market gambling across Europe. CEOs from leading operators, including Flutter, Entain, Evoke and Kindred warn that stringent regulations in countries like the Netherlands, Italy, Spain, and Sweden are inadvertently driving players towards unregulated offshore sites. These sites often lack basic consumer protections and are primarily profit-driven, posing severe risks to players.

Peter Jackson, CEO of Flutter Entertainment, alongside other prominent CEOs, emphasized in the report, “Severe restrictions in these countries prevent an attractive and competitive offer to players that steers them toward safer, locally regulated websites.” The consensus is clear: while enforcement against black market operators is crucial, creating competitive, regulated online markets is the only effective solution to safeguard players.

The Importance of a Balanced Approach

The report advocates for a balanced regulatory framework that not only ensures robust consumer protections but also maintains the competitiveness of the legal market. The EGBA stresses over-regulation can make illegal alternatives more appealing, especially to vulnerable players. In France, for instance, the number of players using black market websites now exceeds those using regulated sites, according to data from the country’s gambling regulator.

“Competitive, regulated online gambling markets are the only effective solution,” the report states. The EGBA calls on national policymakers to design regulations that protect consumers without driving them to unsafe alternatives.

Progress in Responsible Gambling

Despite the challenges posed by black market gambling, the EGBA report highlights significant progress in promoting responsible gambling within the legal market. In 2023, a record 65% of European gamblers used safer gambling tools, up from 60% in 2022. This increase is attributed to a 49% rise in safety messages sent to players, with over a third being personalized based on individual playing behavior.

The report notes that 65% of customers displaying potentially problematic play either improved or stabilized their gambling behavior following safety interventions. This underscores the effectiveness of proactive measures and personalized communication in promoting safer play.

Enhanced Player Protection Measures

The EGBA and its members have made substantial investments in developing advanced safety tools and player intervention mechanisms. These systems leverage health experts, technology, and AI to provide a personalized approach to player safety. The goal is to analyze individual behavior, identify risks, and trigger appropriate interventions to encourage safer gambling practices.

In 2023, 21 million customers had one or more safety tools activated on their accounts, a 14% increase from the previous year. Deposit limits remain the most popular tool, used by 70% of customers who voluntarily activate safety measures.

Looking Ahead: A Sustainable Future

The report also highlights the broader contributions of EGBA members to European society, including significant financial support for problem gambling research, education, and treatment. In 2023, contributions to these areas increased by 25%, reaching €61.2 million.

The EGBA is committed to fostering a culture of sustainable and responsible gambling. The report outlines plans for the fourth edition of European Safer Gambling Week in November 2024, aiming to surpass previous records for engagement and participation.

The EGBA’s 2024 Sustainability Report is a call to action for regulators and policymakers to balance consumer protection with market competitiveness. By fostering a well-regulated and attractive legal market, Europe can effectively combat the risks posed by black market gambling and ensure a safer gambling environment for all players.

Source:

EGBD | European Gaming & Betting Association | Sustainability Report 2024 [pdf]

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Evolution Acquires Galaxy Gaming to Enhance US Market Presence https://kenowizard.com/2024/07/19/evolution-acquires-galaxy-gaming-to-enhance-us-market-presence/ https://kenowizard.com/2024/07/19/evolution-acquires-galaxy-gaming-to-enhance-us-market-presence/#respond Fri, 19 Jul 2024 12:33:20 +0000 https://kenowizard.com/2024/07/19/evolution-acquires-galaxy-gaming-to-enhance-us-market-presence/ Evolution subsidiary Evolution Malta Holding Limited has announced an agreement to acquire Galaxy Gaming, Inc. for an equity value of about $85 million, payable in cash. This acquisition is set to significantly bolster Evolution’s presence in the US market, furthering its goal to be the premier provider of casino games worldwide. Strategic Integration and Market [...]

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EVOLUTION-TO-ACQUIRE-GALAXY-GAMING-A-LEADING-INDEPENDENT-DEVELOPER-AND-DISTRIBUTOR-OF-CASINO-TABLE-GAMES-AND-TECHNOLOGYEvolution subsidiary Evolution Malta Holding Limited has announced an agreement to acquire Galaxy Gaming, Inc. for an equity value of about $85 million, payable in cash. This acquisition is set to significantly bolster Evolution’s presence in the US market, furthering its goal to be the premier provider of casino games worldwide.

Strategic Integration and Market Leadership

Galaxy Gaming, a trailblazer in the development and distribution of casino table games and advanced gaming technologies, has made a significant impact on the casino industry. Known for its innovative products and superior service, Galaxy Gaming has built a strong reputation as a reliable partner for casinos globally. The acquisition by Evolution is intended to enhance its extensive gaming content portfolio and solidify its leadership in the US market.

“We are thrilled to announce the acquisition of Galaxy Gaming, which represents a significant milestone in our mission to provide unparalleled gaming experiences to our customers. Galaxy Gaming’s exceptional products and technology complement our existing portfolio and strengthen our strategic position,” said Martin Carlesund, CEO of Evolution.

Maintaining Independence and Driving Growth

Following the acquisition, Galaxy Gaming will continue to function as a separate and independent business unit, with its current management and staff retained. This approach ensures stability and continuity while leveraging Evolution’s operational and financial resources to drive growth and innovation.

“We believe this transaction represents the opportunity to unite two world-class, customer-focused teams in a way that will benefit all stakeholders. It combines Galaxy Gaming’s thriving land-based business with Evolution’s global reach and innovative online gaming leadership,” commented Matt Reback, President and CEO of Galaxy Gaming.

Financial Details and Transaction Timeline

According to the Merger Agreement, Evolution will acquire all of Galaxy Gaming’s outstanding common stock shares for $3.20 per share in cash, reflecting a 124% premiumon Galaxy Gaming’s closing share price on July 17, 2024. The total equity value of the transaction stands at approximately $85 million, with the total value, including net debt, around $124 million. The acquisition will be funded with available cash reserves.

The transaction has received the approval of Galaxy Gaming’s board of directors, with board members holding roughly 14% of the company’s stock agreeing to vote in favor of the deal. The closing of the transaction is anticipated in mid-2025, pending customary closing conditions, including stockholder and regulatory approvals.

Advisors and Future Prospects

In this transaction, Evolution is being advised by J.P. Morgan SE as its exclusive financial advisor and Kirkland & Ellis LLP as its legal advisor. Galaxy Gaming is receiving advisory services from Macquarie Capital and legal advice from Latham & Watkins LLP.

Evolution’s acquisition of Galaxy Gaming is a pivotal move in its strategy to expand its footprint in the US. Earlier in 2024, Evolution acquired the social casino platform Livespins and established partnerships with major US online gaming operators like Caesars Digital and Rush Street Interactive. Additionally, Evolution has launched its Nolimit City studio across six US markets, further demonstrating its commitment to the American gaming sector.

Source:

EVOLUTION TO ACQUIRE GALAXY GAMING, A LEADING INDEPENDENT DEVELOPER AND DISTRIBUTOR OF CASINO TABLE GAMES AND TECHNOLOGY, galaxygaming.com, July 18, 2024.

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French Legal Sports Betting Market Struggles Amid Illegal Gambling Surge During Euro 2024 https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/ https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/#respond Thu, 18 Jul 2024 11:01:36 +0000 https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/ Following the conclusion of Euro 2024, the French Online Gaming Association (AFJEL) released initial market figures that revealed a disappointing performance for licensed online sports betting operators. Despite expectations, the legal market stagnated, showing no growth compared to Euro 2021 and a substantial 25% decline from the 2022 World Cup figures. Notably, the stakes fell [...]

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Illegal-market-outstrips-licensed-French-gambling-AFJEL-warnsFollowing the conclusion of Euro 2024, the French Online Gaming Association (AFJEL) released initial market figures that revealed a disappointing performance for licensed online sports betting operators. Despite expectations, the legal market stagnated, showing no growth compared to Euro 2021 and a substantial 25% decline from the 2022 World Cup figures. Notably, the stakes fell far short of the National Gaming Authority’s (ANJ) predicted record of €1 billion, with actual figures coming in 50% lower.

Stagnation and Decline in Legal Sports Betting

The report highlights several troubling trends for the licensed sports betting market:

  • Stakes remained stagnant compared to Euro 2021.
  • A significant 25% drop in stakes from the 2022 World Cup.
  • Actual stakes were 50% below ANJ’s forecast, amounting to approximately €500 million.

These figures are particularly concerning given that the French national team reached the semi-finals, a performance that would typically boost betting activity. However, the lack of growth and the continuous decline in the number of unique players (-5.3% in 2023) suggest a shift towards the illegal market.

Rise of the Illegal Gambling Market

In stark contrast, the illegal gambling market has flourished. For the first time since the regulated market’s establishment in 2010, the number of illegal players surpassed those in the legal market, reaching 4 million in 2023. This growth has been driven by illegal online casino sites offering sports betting on Euro 2024 without any regulatory oversight or player protection measures. These platforms have attracted players with enticing odds and the absence of legal restrictions.

Nicolas Béraud, President of AFJEL, expressed concern over these trends. He stated, “The initial assessment of Euro 2024 reveals figures that contradict the supposed frenzy of online sports betting on the legal market. The illegal market continues its strong expansion, cannibalizing the online sports betting sector by diverting players from the legal offer.”

Challenges in Curbing Illegal Gambling

Despite efforts by the ANJ to block illegal sites, these measures have proven ineffective. Béraud emphasized that unlicensed operators act with “complete impunity,” further exacerbating the issue. The regulator’s actions have not been sufficient to curb the growth of the illegal market, leaving over 4 million players exposed to significant risks.

This situation is compounded by the absence of a regulated online casino market in France and the high taxes imposed on legal operators. These factors drive players towards illegal platforms, which offer more attractive options without the burden of taxes or regulatory constraints.

A Paradoxical Market: Growth Amidst Decline

Interestingly, despite the concerns raised by AFJEL, ANJ figures indicate a thriving French gambling market. The total gross gambling revenue (GGR) for 2023 reached a record €13.4 billion, a 3.5% increase from 2022. All market segments saw growth, with online sports betting revenue growing by 6.4% year-on-year to €1.5 billion.

However, this growth masks underlying issues. The pool of unique players decreased by 7.3%, and the number of active accounts fell by 3.9%. The market continues to be dominated by former gambling monopolies like La Française des Jeux (FDJ) and Pari-Mutuel Urbain (PMU), which accounted for 62.7% of total revenue.

Addressing the Illegal Gambling Challenge

To address the growing illegal gambling problem, several measures could be implemented:

  1. Stricter Penalties: Imposing harsher penalties on illegal operators and participants could deter illegal activities.
  2. Advanced Technologies: Investing in technology to improve the detection and blocking of illegal sites.
  3. Legalization of Online Casinos: Expanding the legal market to include online casinos could attract players back to the regulated sector.
  4. Tax Policy Review: Reducing taxes on legal operators could make the legal market more competitive.
  5. Public Awareness Campaigns: Educating the public on the risks of illegal gambling and benefits of legal channels.
  6. International Collaboration: Sharing best practices with international regulatory bodies to enhance regulatory measures.

Implementing these strategies could help curb the growth of the illegal market and ensure the sustainability of the legal gambling sector in France.

Source:

Online sports betting during Euro 2024: A mixed assessment for the legal market while the illegal market explodes, afjel.fr, July 15, 2024.

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Push Gaming Enters Spanish Market Exclusively with Pokerstars and Gran Madrid https://kenowizard.com/2024/07/15/push-gaming-enters-spanish-market-exclusively-with-pokerstars-and-gran-madrid/ https://kenowizard.com/2024/07/15/push-gaming-enters-spanish-market-exclusively-with-pokerstars-and-gran-madrid/#respond Mon, 15 Jul 2024 15:17:07 +0000 https://kenowizard.com/2024/07/15/push-gaming-enters-spanish-market-exclusively-with-pokerstars-and-gran-madrid/ Push Gaming, a renowned name in the online gaming industry, has made its debut in the Spanish market through an exclusive partnership with two of Spain’s largest operators, Pokerstars and Gran Madrid | Casino Online. This strategic move marks a significant milestone for the studio as it continues to expand its presence in key European [...]

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Push-Gaming-elevates-regulated-market-growth-with-exclusive-Spain-entryPush Gaming, a renowned name in the online gaming industry, has made its debut in the Spanish market through an exclusive partnership with two of Spain’s largest operators, Pokerstars and Gran Madrid | Casino Online. This strategic move marks a significant milestone for the studio as it continues to expand its presence in key European markets.

Exclusive Launch with Top Operators

In this first-of-its-kind market launch, Push Gaming will roll out ten of its most popular slot titles, divided between the two operators for an exclusive eight-week period. Players at Pokerstars.es will get exclusive access to some of Push Gaming’s most successful games, including Big Bamboo, Jammin’ Jars, Razor Shark, Wild Swarm, and 10 Swords during the initial launch phase.

Simultaneously, Gran Madrid | Casino Online will offer exclusive access to Boss Bear, Jammin’ Jars 2, Retro Tapes, Fish ‘n’ Nudge, and Push’s major AAA release from 2023, Razor Returns. This dual-exclusive strategy ensures that players at both platforms get a unique and exciting gaming experience, featuring some of the best titles from Push Gaming.

Strategic Market Expansion

The entry into the Spanish market is a testament to Push Gaming’s ambitious growth roadmap, aimed at extending its reach across Europe with a robust lineup of high-quality slot games. The move is expected to solidify the company’s presence in Spain, a key European market known for its vibrant gaming community.

Leadership Insights

Fiona Hickey, Chief Business Development Officer at Push Gaming, expressed her excitement about the launch: “This launch is the result of an incredible amount of hard work across the board so it’s fantastic to see it get across the line. Most market debuts are with just one partner so to do so with two major operators – a first for Push – is particularly pleasing. Both are household names for Spanish players and we couldn’t ask for more knowledgeable and established boots on the ground. I’m sure the safe hands we’re in at launch will set us on course for great things in Spain.”

José Felix Herreros, Country Manager at Gran Madrid, echoed this sentiment, emphasizing the importance of offering top-quality gaming experiences to their players: “At Gran Madrid, we strive to always offer the best gaming experience to our players. With the exclusive launch of the best titles from Push Gaming, Gran Madrid | Casino Online consolidates its position as the leading casino in Spain, being the first casino to offer its players the best of this industry-leading studio in online gaming, providing our players with a unique and exciting gaming experience.”

Future Prospects

With the successful launch in Spain, Push Gaming is poised for further growth and expansion in other European markets. The exclusive partnerships with Pokerstars and Gran Madrid | Casino Online set a strong foundation for the company to build upon, as it continues to deliver innovative and engaging gaming content to players across the continent.

This latest development underscores Push Gaming’s commitment to excellence and its ability to forge strategic partnerships that drive its growth and success in the highly competitive online gaming industry.

Source:

Push Gaming elevates regulated market growth with exclusive Spain entry, Push Gaming, July 12, 2024.

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Fantasma Games Enters Italian Market with Premium Slots https://kenowizard.com/2024/06/28/fantasma-games-enters-italian-market-with-premium-slots/ https://kenowizard.com/2024/06/28/fantasma-games-enters-italian-market-with-premium-slots/#respond Fri, 28 Jun 2024 07:20:59 +0000 https://kenowizard.com/2024/06/28/fantasma-games-enters-italian-market-with-premium-slots/ Fantasma Games, known for its “slots beyond gambling,” is debuting in the Italian market through its distribution partner, Relax Gaming. This strategic entry will enable Fantasma Games to offer its entire portfolio of premium and innovative titles to operators and players in Italy for the first time. Expanding Presence in Europe Since its inception in [...]

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ciao_fantasma_games_makes_Italy_debut_via_relax_gamingFantasma Games, known for its “slots beyond gambling,” is debuting in the Italian market through its distribution partner, Relax Gaming. This strategic entry will enable Fantasma Games to offer its entire portfolio of premium and innovative titles to operators and players in Italy for the first time.

Expanding Presence in Europe

Since its inception in 2016, Fantasma Games has earned a solid reputation for its reliability and high-quality slot games. The company is well-regarded for creating engaging and entertaining content that resonates with players. As part of this expansion, popular games such as Shadow Summoner Elementals, Pirate Multi Coins, Circle of Sylvan, and Gold Pigger will be introduced to the Italian market in a phased rollout. This approach ensures a smooth transition for Italian operators and their player communities, allowing them to experience and enjoy Fantasma’s unique gaming offerings gradually.

Seamless Integration with Relax Gaming

The delivery of Fantasma’s game portfolio will be facilitated by Relax Gaming, providing Italian operators with a reliable, scalable, and seamless gateway to access Fantasma’s innovative content. This partnership will also offer easy-to-use gamification tools, enhancing the overall gaming experience for players. By leveraging Relax Gaming’s robust distribution network, Fantasma Games aims to impact the Italian online gaming market significantly.

Fredrik Johansson, CEO of Fantasma Games, expressed his enthusiasm about the launch, stating, “This is a significant market entry launch for Fantasma Games. Our slots have been a big hit with players across European local markets and we expect Italy to be no different. Italy is one of the biggest online gaming markets in Europe, and it’s about time that our high-performing and entertaining content are made available for Italian operator partners and their player communities. We cannot wait to get on the ground through our distribution partner Relax Gaming.”

Innovative Gaming Content for Italy

Fantasma Games’ entry into Italy marks a milestone in its growth strategy to bring innovative gaming experiences to new audiences. The company’s commitment to delivering high-quality entertainment is evident in its portfolio, designed to offer players a unique and engaging experience. By introducing its “slots beyond gambling” to the Italian market, Fantasma Games is set to enhance the local gaming landscape with its creative and high-performing titles.

This expansion is expected to contribute significantly to the Italian online gaming industry, offering players diverse options and elevating the standard of available content. With its established presence in other European markets, Fantasma Games is poised to replicate its success in Italy, further solidifying its position as a leading provider of premium slot games.

Source:

Ciao! Fantasma Games makes Italy debut via Relax Gaming, press release, June 27, 2024.

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Ontario iGaming Market Generates $2 Billion, Supports 15,000 Jobs in Year 2 https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/ https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/#respond Mon, 24 Jun 2024 15:10:34 +0000 https://kenowizard.com/2024/06/24/ontario-igaming-market-generates-2-billion-supports-15000-jobs-in-year-2/ Ontario’s regulated iGaming market has made significant economic strides, generating more than CAD$2 billion in revenue for the provincial government since its inception two years ago. According to a recent report by Deloitte, in its second year, Ontario’s competitive iGaming market (excluding the Ontario Lottery and Gaming Corporation’s iGaming offering) has sustained nearly 15,000 full-time [...]

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ONTARIO_IGAMING_MARKET_SUSTAINING_15000_JOBS_IN_SECOND_YEAR_SINCE_LAUNCHOntario’s regulated iGaming market has made significant economic strides, generating more than CAD$2 billion in revenue for the provincial government since its inception two years ago. According to a recent report by Deloitte, in its second year, Ontario’s competitive iGaming market (excluding the Ontario Lottery and Gaming Corporation’s iGaming offering) has sustained nearly 15,000 full-time equivalent jobs, marking an increase of 2,800 jobs from the first year.

A Recognized Leader in iGaming

“Our made-in-Ontario iGaming sector is being recognized internationally for its success as a leader in this space,” said Ontario Attorney General Doug Downey. “Working together with our partners and industry, we will continue to drive innovation and deliver robust player protections, all while displacing the unregulated market. Our iGaming sector is not only a job creator here in Ontario but it shows the world our ongoing commitment to building a sustainable and responsible iGaming industry.”

Deloitte’s report highlights that the total government revenue generated through the iGaming market reached $1.24 billion in the second year. This revenue includes $790 million supporting provincial government revenue, $75 million bolstering municipal government revenues, and $380 million aiding federal government revenue.

“This report puts Ontario’s iGaming market government revenue contribution at over $2 billion since it launched and with job contribution up by 24% from its first year, the benefits to Ontarians are significant,” said Heidi Reinhart, chair of the iGaming Ontario board.

Economic Contributions and Growth

Ontario’s iGaming market contributed $2.7 billion to Ontario’s GDP in its second year of operation, up from $1.58 billion in the first year. For every dollar spent by iGaming operations, an estimated $1.40 of GDP was supported in the Ontario economy, an increase from $1.14 in the first year.

The iGaming market has already achieved or nearly reached many of Deloitte’s year-five projections in its second year, with government revenue at 94%, direct jobs sustained at 120%, total full-time jobs sustained at 9%, and GDP contributions at 93% of the initial expectations.

“Through the development and growth of Ontario’s regulated iGaming market, we’re helping achieve the government’s goals in terms of job creation, innovation, and development while providing a safer experience for consumers,” added Martha Otton, executive director of iGaming Ontario.

Detailed Economic Impact

The report from Deloitte indicates that Ontario’s regulated iGaming market sustained 14,935 full-time equivalent jobs in its second year, a significant increase from the previous year. The market’s contribution to the GDP amounted to $2.7 billion, with a notable portion of $1.3 billion supporting labor income. This economic activity resulted from both operational activities and capital investments by licensed iGaming operators.

The breakdown of government revenue supported by the iGaming market is substantial: $790 million in provincial government revenue, $75 million in municipal government revenue, and $380 million in federal government revenue. These revenues include various taxes such as the Harmonized Sales Tax (HST), property taxes, and corporate and personal income taxes.

Comparing Year 1 and Year 2 Results

The growth from Year 1 to Year 2 of Ontario’s regulated iGaming market is significant. The estimated contribution to Ontario’s GDP grew by 70%, from $1.6 billion to $2.7 billion. The contribution to labor income increased by 45%, rising from $905 million to $1.3 billion. Employment contributions saw a 24% rise, growing from 12,070 full-time equivalent jobs to 14,935. Additionally, the contribution to provincial and municipal government revenue in Ontario increased by 66%, from $525 million to $865 million.

This robust growth illustrates the dynamic impact of Ontario’s regulated iGaming market on the province’s economy. The sector not only creates jobs but also drives significant revenue for the government, supporting a variety of public services and initiatives.

Source:

ONTARIO IGAMING MARKET SUSTAINING 15,000 JOBS IN SECOND YEAR SINCE LAUNCH, gamingintelligence.com, June 20, 2024.

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Hacksaw Gaming Partners with Newgioco to Enter Italian Market https://kenowizard.com/2024/06/20/hacksaw-gaming-partners-with-newgioco-to-enter-italian-market/ https://kenowizard.com/2024/06/20/hacksaw-gaming-partners-with-newgioco-to-enter-italian-market/#respond Thu, 20 Jun 2024 13:47:11 +0000 https://kenowizard.com/2024/06/20/hacksaw-gaming-partners-with-newgioco-to-enter-italian-market/ As summer heats up, so does the collaboration between Hacksaw Gaming and Newgioco, signaling an exciting new chapter in the Italian iGaming landscape. This partnership introduces some of Hacksaw Gaming’s most popular and innovative titles to Newgioco’s platform, promising players an exhilarating and fresh gaming experience. A Promising Partnership Newgioco, a leading leisure betting technology [...]

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As summer heats up, so does the collaboration between Hacksaw Gaming and Newgioco, signaling an exciting new chapter in the Italian iGaming landscape. This partnership introduces some of Hacksaw Gaming’s most popular and innovative titles to Newgioco’s platform, promising players an exhilarating and fresh gaming experience.

A Promising Partnership

newgioco_secures_hacksaw_gaming_slots_for_italian_offeringNewgioco, a leading leisure betting technology platform, offers regulated online and land-based gaming and sports betting throughout Italy. A. Merola, CEO of Multigioco Srl, expressed enthusiasm about the new collaboration:

“The Newgioco casino adds Hacksaw Gaming as a new partnership with which we are sure we can aim together for excellent results in terms of satisfaction from our users. Extending the offer with high-profile suppliers represents another step in our strategy aimed at making the widest range of innovative and safe entertainment products available to Newgioco users. Welcome to Hacksaw Gaming in the Newgioco stable!”

Exciting New Titles for Players

Players can look forward to a selection of Hacksaw Gaming’s star titles such as Wanted Dead or a Wild, Le Bandit, Hand of Anubis, and Chaos Crew II, among others. Known for their visually stunning art styles and innovative features, Hacksaw Gaming’s offerings are set to provide a unique and engaging gaming experience.

Marcus Cordes, CEO of Hacksaw Gaming, shared his excitement about the partnership: “Another new client and another successful launch under our belts! We’re avid to see how Newgioco players enjoy our content, and equally as eager to solidify this new collaboration.”

Enhancing the Italian iGaming Experience

This partnership between Hacksaw Gaming and Newgioco is poised to elevate the gaming experience for players across Italy. By combining Hacksaw Gaming’s cutting-edge game design and Newgioco’s robust platform, the collaboration aims to deliver exceptional entertainment and enhance player satisfaction.

As both companies look forward to a successful partnership, Italian players can anticipate a summer filled with exciting new games and enhanced gaming experiences. This collaboration not only marks a significant milestone for both Hacksaw Gaming and Newgioco but also promises to set new standards in the Italian iGaming market.

Source: Coming in Hot! Hacksaw Gaming and Newgioco Toast to New Beginnings!, Hacksaw Gaming, June 18, 2024.

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Spanish Online Gambling Market Reports Q1 2024 Growth with €350.7M GGR https://kenowizard.com/2024/06/06/spanish-online-gambling-market-reports-q1-2024-growth-with-e350-7m-ggr/ https://kenowizard.com/2024/06/06/spanish-online-gambling-market-reports-q1-2024-growth-with-e350-7m-ggr/#respond Thu, 06 Jun 2024 15:51:54 +0000 https://kenowizard.com/2024/06/06/spanish-online-gambling-market-reports-q1-2024-growth-with-e350-7m-ggr/ The Spanish online gambling market has shown robust growth in the first quarter of 2024, as reported by the Directorate General for the Regulation of Gambling (DGOJ). The Gross Gaming Revenue (GGR) for the quarter reached €350.69 million, marking an 11.23% increase quarter-over-quarter and a 15.14% increase year-over-year. This significant rise underscores the market’s resilience [...]

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The Spanish online gambling market has shown robust growth in the first quarter of 2024, as reported by the Directorate General for the Regulation of Gambling (DGOJ). The Gross Gaming Revenue (GGR) for the quarter reached €350.69 million, marking an 11.23% increase quarter-over-quarter and a 15.14% increase year-over-year. This significant rise underscores the market’s resilience and recovery from previous fluctuations.

Growth Across Key Segments

spanish_online_gambling_report_q1_2024_ggr_up_15_1pctIn terms of player transactions, both deposits and withdrawals showed notable increases compared to the previous year, rising by 15.85% and 13.90%, respectively. Quarter-over-quarter, deposits grew by 5.61% while withdrawals saw a modest increase of 0.72%. Despite the overall growth, marketing expenditure saw a slight decrease of 1.0% quarter-over-quarter, while the number of new accounts surged by 15.21%.

The GGR is distributed across various gaming segments, with betting, casino, bingo, contests, and poker all contributing to the total. Betting accounted for €150.28 million (42.85% of the total GGR), followed by the casino segment with €167.76 million (47.84%). Bingo contributed €4.19 million (1.19%), contests €0.002 million (0.00%), and poker €28.45 million (8.11%).

Betting and Casino Drive Growth

The betting segment experienced a significant positive variation rate of 30.99% quarter-over-quarter and 15.37% year-over-year. This growth was largely driven by a remarkable 588.84% increase in pre-match betting, although in-play sports betting saw a decline of 31.69%. Other betting categories also grew by 1.57% this quarter, whereas horse betting decreased by 28.36%.

The casino segment, despite a slight quarter-over-quarter decline of 2.05%, showed a strong annual growth rate of 17.02%. Within the casino segment, slots increased by 14.98% year-over-year, and live roulette saw an impressive 22.19% growth. Quarter-over-quarter, Blackjack, conventional roulette, and live roulette grew by 7.32%, 9.69%, and 6.37%, respectively, while slots fell by 7.51%.

Other Segments Show Mixed Results

Bingo showed steady growth, with a 9.18% increase quarter-over-quarter and 24.93% year-over-year. Conversely, the contests segment continued its irregular performance, experiencing a dramatic fall of 96.79% quarter-over-quarter and 99.38% year-over-year.

Poker presented a positive outlook with an 11.98% quarter-over-quarter increase and a 3.99% year-over-year rise. Poker tournaments grew by 11.19% quarter-over-quarter and 2.04% year-over-year, while poker cash games increased by 13.91% compared to the previous quarter and 8.91% compared to the same quarter of the previous year.

Player Engagement and Market Dynamics

The average number of active game accounts per month reached 1,327,575, reflecting a 4.57% increase quarter-over-quarter and a 14.58% increase year-over-year. The average number of new game accounts per month stood at 148,862, with a growth of 15.21% quarter-over-quarter and 33.64% year-over-year.

For this quarter, there were 78 licensed operators in the market. The number of active operators by segment included 41 for betting, 4 for bingo, 50 for casino, 2 for contests, and 9 for poker.

Marketing Expenses

Marketing expenses for the last quarter totaled €112.79 million, broken down into €14.27 million for affiliation expenses, €1.07 million for sponsorship, €55.67 million for promotions, and €41.78 million for advertising. Compared to the previous quarter, marketing expenses declined by 1.00% but increased by 14.86% year-over-year. Specifically, sponsorship decreased by 12.55%, affiliates by 0.87%, advertising by 7.68%, while promotions increased by 4.93% quarter-over-quarter. Year-over-year, sponsorship fell by 27.23%, affiliates increased by 14.82%, advertising by 22.49%, and promotions by 10.92%.

Source: “1st Quarterly Report 2024”. Directorate General for the Regulation of Gambling. June 4, 2024.

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