France’s premier lottery and sports betting operator, La Française des Jeux (FDJ), announced that its takeover proposal for Kindred Group has been approved by the Swedish regulator. As a result, the French betting powerhouse will launch its offer on February 20.

According to FDJ, its offer document secured the official approval of the Swedish Financial Supervisory Authority (SFSA), allowing it to proceed with its deal. The French operator also added that its offer, set to be launched tomorrow, will go live for a maximum period of 39 weeks.

The completion of the tender offer would remain subject to additional regulatory approvals and FDJ’s acquisition of at least 90% of Kindred’s issued capital.

In the meantime, Kindred will hold an extraordinary general meeting on March 15. During the meeting, the operator group will discuss whether to amend the Articles of Association to allow for the implementation of a squeeze-out procedure in case FDJ acquires 90% or more of Kindred’s capital.

The Deal Would Close in November

FDJ’s offer is available in English and French on its official website and confirms many of the previously announced aspects of the deal. According to the announcement, FDJ will pay SEK 130 per share to acquire Kindred’s business.

Under the terms published by FDJ, the deal would close on November 28.

FDJ’s board of directors has already greenlit the move, while Kindred’s board advised shareholders to approve the deal.  

As the merger looms, Capital Research and Management Company, a subsidiary of The Capital Group Companies, reduced its shares in Kindred Group. This came amid a spike in Kindred Group’s share price.

In other news, FDJ recently published its FY 2023 results, reporting solid growth and robust results. The company’s revenues hit $2.82 million, marking a YOY increase of 6.5%. EBITDA, on the other hand, stood at $705.9 million, representing an increase of 11.3% and a margin of 25.1%.

The post FDJ to Officially Launch Public Tender Offer for Kindred appeared first on Keno Wizard.

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.

The post Bet365 Officially Announces Launch in Indiana Online Betting appeared first on Keno Wizard.

True to his word, Senator Joseph Addabbo introduced a new iGaming bill in New York. The measure, dubbed Senate Bill 8185 was referred to the Racing, Gaming and Wagering Committee yesterday and seeks to authorize interactive gaming and interactive lottery gaming in The Empire State.

Addabbo, who’s a staunch supporter of the launch of online casino gaming in the state, also tried to get the vertical legalized in 2023. His previous bill, S4856, also sought to get digital gambling legalized. However, a major difference is that the previous bill did not include online lottery.

In any case, S4856 failed to gain traction and never yielded results. However, this did not stop Addabbo from promoting the launch of online gambling in New York.

Under S8185, New York’s seven land-based casinos, racetracks and tribes will be eligible to apply for online gambling licenses. The potential bidding process will also handle three additional licenses to parties that submit a program that gets the commission’s approval.

As mentioned, the main difference from last year’s bill is that S8185 also includes the legalization of online lottery. Per the proposal, New York would allow players to access joint, multi-jurisdiction and out-of-state lotteries online. Ticket sales would be overseen by the New York State Division of Lottery.

Addabbo Says New York Would Benefit from the Legalization

Applicants will have to pay a one-time license fee to secure their license. Existing operators, for example, will be required to pay $2 million for a license. Independent contractors, however, will need to pay $10 million.

In addition, potential applicants should prepare to face significant taxes as S8185 envisions a 30.5% gross gaming revenue tax. Mirroring New York betting’s controversial (and according to some operators unsustainable) tax, Addabbo plans to set high taxation rates for operators. As per the bill, $11 million of this money will be distributed by the Commission and the Office of Addiction Services and Supports for problem gambling-related services.

Under the current version of the bill, only players above the age of 21 will be allowed to play online.

A few days ago, the Senator commented on the matter, saying that the legislation would greatly benefit New York, significantly alleviating its rising financial pressures. He said:

Other states are doing it and taking our money. And if I hear my analysts in the industry correctly, we lose about a billion dollars a year. How long can we sit on the sidelines?

Senator Addabbo

New York is currently America’s largest betting market, constantly posting record-breaking figures. Addabbo and other online gambling supporters hope to replicate this success and generate more tax revenue for the state.

The post Sen. Addabbo Officially Files iGaming & iLottery Bill in New York appeared first on Keno Wizard.

Gauselmann Group, an international gaming group, has officially changed its name to Merkur Group, reflecting its goal to build a new brand identity. As a result, Gauselmann AG will now operate under the name Merkur.com AG.

According to the company’s official announcement, the rebranding was completed on January 1.

Paul Gauselmann introduced the Merkur brand in the 1970s and gradually turned it into a gaming powerhouse. The success of the company was boosted by the Merkur B, the group’s AWP machine division. It was later further reinforced by the launch of Gauselmann’s first company-owned arcade, the Merkur Spielothek.

Following that, Merkur produced a plethora of games, gaming machines and gaming systems, all developed and distributed under the company’s signature laughing sun logo. According to Paul Gauselmann, this success was among the reasons for the current rebranding of the group.

The Rebrand Capitalizes on Merkur’s Appeal

The rebrand was announced in September 2023 and aligns with the company’s desire to capitalize on the Merkur brand’s appeal. This important step will also allow the group to create a unified identity for itself.

The corporate group is becoming increasingly digital and international. The change of name reflects this fact. Both developments will benefit from linking the appeal of our Merkur brand to the company name.

Paul Gauselmann, founder & chair of the management board, Merkur Group

From now on, all marketing materials will display the company’s new look. This also means that the company will have to adapt a large number of company signs. Despite that, Merkur emphasized that the changes to its image will not affect the presence of the Gauselmann Family Foundation. As explained by Paul Gauselmann: “Continuity and stability are cornerstones of our corporate philosophy and will continue to be important factors for success going forward.”

The post Gauselmann Group Officially Rebrands as Merkur appeared first on Keno Wizard.

ESPN BET, one of the most highly-anticipated online sports betting platforms in the United States, finally has an official launch date. As announced by ESPN, the new online sportsbook is set to debut on November 14.

ESPN BET is set to launch in a total of 17 states, including Arizona, Colorado, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, Ohio, Pennsylvania, Tennessee, Virginia, and West Virginia. The launch in Massachusetts recently faced a challenge as the local regulator required more information from PENN Entertainment.

In addition to revealing the official launch date, ESPN also announced that it is now using official odds provided by ESPN BET across editorial and other content.

ESPN BET is a joint venture of the experienced gambling operator PENN Entertainment and the Walt Disney Corporation-owned media channel ESPN. As a result, the launch of ESPN BET signifies Disney’s foray into the world of sports wagering.

ESPN Has a Lot in Store

ESPN also unveiled a new advertising campaign featuring SportsCenter anchor Scott Van Pelt who will showcase the cohesiveness of the ESPN and ESPN BET apps by receiving notifications from the two apps. The ESPN BET Creative campaign will launch around the sportsbook’s launch and will also feature SportsCenter anchor Elle Duncan.

 In the meantime, the beloved ESPN Daily Wager program will be known as ESPN BET Live from November 10 onward. ESPN noted that the show’s final episode as Daily Wager is set to air on November 6.

ESPN also announced that fans will be able to enter into a sweepstakes ahead of the launch of the new sports betting platform. Participants in the sweepstakes can win an exclusive trip to ESPN’s headquarters in Bristol, Connecticut.

PENN Entertainment’s president & CEO, Jay Snowden, commented on the launch of ESPN BET in his company’s Q3 report. He teased that the ESPN BET product will include a “wide array of popular betting options,” including featured bets, quick bets (micro-markets), player props and same game parlays, among others.

Looking ahead, we will be introducing even deeper platform and media integrations with ESPN over the upcoming months, providing an unmatched and seamless media/betting experience that will appeal to sports fans across the country.

Jay Snowden, president & CEO, PENN Entertainment

ESPN BET’s logo was revealed a few days ago, further ramping up the hype for the launch of the sportsbook. However, the similarities with BroThrow’s logo also attracted criticism.  

The post ESPN BET Is Set to Officially Launch on November 14 appeared first on Keno Wizard.

Malta-based online casino games developer RAW iGaming continues to work hard to prove itself as a state-of-the-art game developer, and the debut of its newest proprietary feature, RAW Vibe, is its latest way of doing so.

RAW Vibe description

In terms of strict definition, this feature is “virtual intelligent behavior engine” powered by Artificial Intelligence (AI) that enables the firm to include complex narratives and characters into titles, further resulting in an unprecedented level of player interaction and engagement in its games.

One of the most notable characteristics of the said feature is that players may generate a character with a deep personality, a very engaging back-story and include it into the game’s narrative, instead of the characters being there just for visuals with little or no dialogue as is the case with a large number of slots. In addition, with the mentioned option, players are constantly entertained without ever getting bored of the game, because the monotony that exists in other games is gone. When it comes to monotony, any experience becomes irritating and reduces the overall entertainment value.

Commenting on the RAW Vibe, founder and Chief Executive Officer of RAW iGaming, Tom Wood, commented: “The studio’s latest trademarked feature release shows how AI can be used to deliver new and exciting player experiences. RAW VIBE allows us to really bring in-game personas to life and for their dialogue to be a major part of the player experience for the first time.”

Twisted Toy Tales as the first game to include the RAW Vibe

The function will first see the light of day in a game called Twisted Toy Tales, a one-of-a-kind character-focused game in which 4 teenage heroes battle Juggy, a vicious animatronic toy with a stray AI that is completely dedicated to hunting them down and destroying their victories.

What’s more, the aforementioned Juggy is the first ever AI character included in any slot game and he speaks to players in many languages, which of course is based on the location of the player. This also adds hunting comments during the session as he is able to move freely within the game and may appear anywhere or say anything without players knowing beforehand.

In this regard, Wood added: “Twisted Toy Tales is the first version of VIBE and, as AI develops, so will the ability of VIBE and the characters that use it. This is yet another example of how we push boundaries by leveraging the latest technologies available to us. We look forward to seeing players meet Juggy in Twisted Toy Tales and the other characters that will continue to blend the advances in technology with entertainment value and big win potential.”

Source: “Introducing RAW VIBE, the First AI-powered Virtual Intelligent Behaviour Engine”, European Gaming, October 20, 2023

The post RAW iGaming Officially Presents AI-Powered RAW Vibe appeared first on Keno Wizard.

Kentucky, the well-known American state, has finally announced the opening of its online sports betting market a few weeks after the state also launched its regulated retail wagering market.

Both online and retail betting were legalized through House Bill 551, which was signed into law by Andy Beshear, the Governor of Kentucky, in April 2023. The state authorities decided to open the retail market on 7 September, while the online betting market opened on 28 September.

The law stipulates that each of the racetracks located in Kentucky can form partnerships with up to three online sports betting operators and also offer retail betting. The Kentucky Horse Racing Commission has already prepared for this by issuing sports betting licenses for several operators in August.

For now there are eight different operators that have secured a service provider license for online betting in Kentucky: Bet365, BetMGM, Caesars, Circa, DraftKings, FanDuel, Penn Sports Interactive and Fanatics. Kambi also received a service provider license from the Kentucky Horse Racing Commission, but only for retail operations.

BetMGM will offer both retail and online wagering after having secured a partnership with Sandy’s Racing and Gaming. The same racetrack also signed a partnership with Bet365.

Caesars is also offering both retail and online betting in partnership with The Red Mile, while Penn Sports Interactive has teamed up with Ellis Park to offer mobile betting. Circa and DraftKings have signed partnerships with Cumberland Run, while Kambi is providing retail-only betting services for Churchill Downs’ Ellis Park, Turfway Park and Oak Grove.

An Exciting Time

Matt Kalish, President of DraftKings North America, declared himself “thrilled” to have launched his company’s services in Kentucky, the 24th jurisdiction where the well-known brand is now live. “It’s an exciting time of year with the NFL and college football seasons currently underway,” Matt Kalish added.

Scot McClintic, Chief Product Officer at Fanatics Betting and Gaming, announced that his brand will be launching in Kentucky with a jersey drop promotion, allowing each customer that signs up to receive a brand new jersey from any team in any sport.

In July 2023, when the state authorities first announced the launch dates for the Kentucky betting market, Governor Beshear described the moment as “a historic day for our commonwealth.” The Governor also added that along with the entertainment value that the betting market brings to people in Kentucky, the industry will also bring “money to the state to support pensions, freeing up money that can be used to build a better Kentucky.”

Source: “Kentucky opens legal online sports betting market“. iGaming Business. September 28, 2023.

The post Kentucky Online Sports Betting Market Officially Opens appeared first on Keno Wizard.

Moving forward, though, the FATF would not consider Cambodia a high-risk jurisdiction, albeit the country will most certainly have to maintain its unfaltering commitment towards cracking down on illegal gambling and eliminating any doubt that it may be allowing human trafficking to happen on its watch.

Cambodia Finally Makes It Off the FATF’s List

Both Cambodia and Morocco have been removed from the list, with the FATF citing the two countries’ sustained efforts in improving AML and CFT regulation and enforcing rules. In a statement published on Friday during a plenary meeting, the regulator said:

Each country has addressed its technical deficiencies to meet the commitments of its action plan on strategic deficiencies that the FATF identified in February 2019 and 2021 respectively.

FATF

This does not mean that there are no issues to be tackled still. Cambodia has not quite cleared all the hurdles it faces, but it has been actively trying to, which is what FATF considers a qualifying factor to be taken off its list.

The country has been in hot water with international regulators since 2019 as it lacked a clear strategy to address AML/CFT issues it faced at the time. This prompted the US Department of State and the FATF to both criticize the country’s lack of action and recommend not doing business in Cambodia.

Much Effort and Time Expended to Achieve This Goal

In the meantime, Cambodia has made significant efforts to plug one of the biggest holes in its AML and CFT standards – the gambling industry. The country’s officials have cajoled licensed and upstanding operators, encouraging them to pay due taxes.

There is a fair degree of involvement from China, a neighbour who has been advocating for a tougher stance on illegal casinos in the country for a very long while. Recently, China said that it’s looking to work together with Cambodia on addressing trans-border crime, including gambling, drugs, and human trafficking among other illicit activities.

Yet, the true driver of change has come from within the government and police authorities which have pushed against the illegal gambling sector and cracked down on it heavily.

The post Cambodia Now Officially Off the FATF’s Grey List appeared first on Keno Wizard.