GambleAware, the leading commissioner of gambling harm prevention and treatment services in the UK, suggested that the broad public supports the controversial affordability checks. The measure, originally outlined in the Gambling Act white paper, seeks to introduce frictionless checks that would prevent at-risk players from overspending.

However, gambling industry campaigners have suggested that the checks would make gambling unsustainable for many players, potentially even hurting the horseracing sector. On the contrary, GambleAware suggested that the public actually supports the measure.

Citing recent polling, the charity suggested that three in five adults (57%) support enhanced financial risk checks. People impacted by a loved one’s gambling, on the other hand, were much more likely to support the measure, with data showing that 76% of affected others believe gambling companies should be held responsible for gambling problems.

In the meantime, 63% of respondents said that they believe that affordability checks would reduce the number of problem players.

For reference, the polling was conducted by Ipsos and saw the public opinion specialist survey 4,170 British adults.

GambleAwar Supports Frictionless Checks

GambleAware’s chief executive officer, Zoë Osmond, said that her team urges the government to not miss opportunities to introduce “robust preventive measures.” While GambleAware acknowledges that affordability checks should be frictionless and properly implemented, it also believes that they are a necessary measure.

By prioritizing preventative action and ensuring the industry take some responsibility for protecting individuals against unaffordable losses, we can mitigate the detrimental impact of problem gambling on individuals and society as a whole.

Zoë Osmond, CEO, GambleAware

Nicola Jaques, family support worker for the Beacon Counselling Trust in Preston, and an affected other of gambling harms, also commented on the matter, highlighting the devastating effects gambling harm could have on families. 

Safeguards like these financial risk checks are so important because they would help protect not only the person experiencing problems with gambling, but also those around them. Anyone can experience gambling harm and it affects far more than just one person.

Nicola Jaques, family support worker, Beacon Counselling Trust

GambleAware is the organization behind the United Kingdom’s National Gambling Support Network (NGSN). The charity recently reported that the helpline received over 52,000 calls in 2023 – a figure representing a year-on-year rise of 24%.

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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%.

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Since 2018 when the US Supreme Court struck down PASPA, sports betting expanded rapidly across the country. By now, 38 US states along with DC offer some form of legal wagering, leaving a handful of states that are currently trying to legalize the activity and a several that do not have any active legislation.

Currently, Nebraska offers only retail sports betting options. The state borders Iowa, Colorado, Kansas and Wyoming, all of which offer mobile sports betting. While nearby Missouri is anticipating legalizing wagering, South Dakota, another bordering state, is offering only retail sports betting.

With some Nebraskans choosing to visit a nearby state and place sports bets online, efforts toward the legalization of mobile betting in the state continue. Besides a bill proposing the legalization of online sports betting, industry stakeholders are also exploring options to push for the legalization of the activity.

Once such effort is led by a coalition with the participation of the Winnebago Tribe of Nebraska’s economic development arm, Ho-Chunk Inc., in collaboration with leading sports betting operators, a new report reveals. As announced by the Journal Star, the coalition that supports the legalization of online sports wagering includes Ho-Chunk, along with industry giants, FanDuel and DraftKings, Caesars and BetMGM.

Support of the Public Is Important

The efforts of the coalition seek in Nebraska to evaluate the likelihood of the residents of the state to support the addition of mobile betting. This can be achieved either via efforts by lawmakers or by adding a poll to the upcoming ballot in November.

To determine the support of Nebraskans, the coalition launched a public opinion poll on the topic. The poll launched on Monday this week and will conclude at the week’s end with the results expecting to shed light on the residents’ views about mobile wagering.

Lance Morgan, Ho-Chunk’s CEO, revealed that the coalition has “big plans” that can only be achieved with support from the public. “We don’t want to do anything until we see what happens,” he explained, joking that mobile betting is “something people want.”

Moreover, Morgan spoke about a growing number of requests from bettors for online sports wagering at WarHorse’s retail betting outlet. He explained that many people would rather use their smartphone to place a wager instead of driving miles to visit a retail sportsbook or go across the border to a nearby state.

According to Morgan, a petition drive to put the issue up for a vote in November would require significant expenses. Yet, he expressed hope that if the public opinion supports the expansion of gambling with the addition of mobile betting, lawmakers will take the initiative and add the matter to the upcoming ballot.

Provided that supporters try to legalize mobile betting through a petition drive, they would need to collect approximately 122,000 signatures from residents in the state. The deadline for the collection of the valid signatures is July 2024.

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The potential public offering comes on the heels of two investor days this year, fueling previous market rumors suggesting a possible IPO debut for the Florida-based merchandise and media giant. The company’s successful foray into sports betting highlighted its successful diversification efforts as it built upon its partnerships with high-profile leagues like the NFL, NHL, NBA, and MLB.

Recent Developments Offer Intriguing Insights

Despite Fanatics’ conspicuous silence regarding the matter, several developments hint at an impending IPO. The company’s April appointment of Deborah Crawford, a seasoned executive with a track record in investor relations at Meta Platforms, Ancestry.com, and Netflix, signals extensive preparations to weather investor scrutiny. This move makes little sense without plans to go public.

The company’s valuation soared to $31 billion following a $700 million capital raise in December 2022, positioning it as a potential frontrunner for one of the largest IPOs in the upcoming year. Fanatics has leveraged its impressive growth to fuel an acquisition spree in recent years, purchasing trading cards specialist Topps and iconic clothing brand Mitchell & Ness.

Exclusive licensing agreements with major sports leagues like the NFL, NHL, NBA, MLB, and various colleges and universities form another cornerstone of Fanatics’ business strategy, bolstering all the company’s verticals. Fanatics’ broader push into the lucrative US sports wagering arena is perhaps its most ambitious project, attracting significant stakeholder attention.

The Company’s Debut Will Represent New Opportunities

Fanatics recently acquired PointsBet’s US operations for $150 million, signaling its intent to delve deeper into the US sports betting landscape. The company has already launched the Fanatics Sportsbook app in Maryland, Massachusetts, Ohio, and Tennessee, capitalizing on growing interest in the sports betting sector.

Despite Fanatics’ substantial investments in the sports wagering sector, it faces significant competition from established betting giants like BetMGM, DraftKings, and FanDuel. The launch of ESPN Bet also poses a substantial challenge, diverting some of the attention away from its debut. However, the company remains confident in its ability to capitalize on its internal synergies and reach new audiences.

As the buzz surrounding Fanatics’ potential IPO gains momentum, industry observers and investors await the company’s official announcement, positioning it as a noteworthy event in sports and finance for the upcoming year. Fanatics has been understandably reluctant to share additional details, but its extensive preparations and impressive momentum leave little room for doubt regarding its intentions.

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Aggressive advertising strategies employed by online and mobile app gambling services have raised significant concerns regarding youth exposure and gambling harm. London Mayor Sadiq Khan faces mounting pressure to fulfill his pledge to ban gambling companies from using the Transport for London (TfL) network to post harmful marketing materials. 

Khan’s Election Pledge Remains Unfulfilled

A ban on gambling advertisements would align with previous actions to restrict marketing products and services deemed to cause social harm within London’s transport network. Advertisements for unhealthy foods and those promoting unrealistic body images have already faced bans. However, the term “harmful” gambling remains undefined, prompting concerns that London authorities may further delay any action.

During his April 2021 election campaign, Sadiq Khan promised to take action against such advertisements, highlighting gambling’s negative societal impact. He acknowledged that gambling harm spread beyond the individual level and could destroy lives and families. However, London authorities have remained passive, and ads for high-profile gambling companies remain a common sight within the city’s transit network.

I’ll instruct TfL to bring forward plans to extend the ban to harmful gambling advertisements on the network.

Sadiq Khan

At a committee meeting of the London Assembly, experts and politicians emphasized the urgency for Khan to deliver on his promise and expand the scope of the crackdown. Gambling support charities and public health specialists have long called for a much stricter stance on gambling advertising, noting that TfL represented a significant concern.

Bans Must Happen on the Local Level

While recent data from the Gambling Commission indicates a decline in youth gambling, London authorities have expressed frustration in regulating the market due to unclear definitions. Dr. Tom Coffey, Khan’s senior adviser on health policy, highlighted the challenge of defining “harmful” gambling and the need for a precise government-led definition to avoid legal challenges.

The UK government’s April gambling white paper led to consultations with industry stakeholders and leading charities discussing ways to refine the legislation. These initiatives achieved substantial progress but conspicuously steered clear of discussions around advertising limitations, focusing instead on curbing incentives like free bets and direct marketing.

The ongoing conversation highlights the complex challenges in regulating gambling advertisements and their potential impact on vulnerable individuals within the London community. A lack of provisions in the upcoming white paper means that any bans within TfL will depend on Mayor Khan and his willingness to address the concerns of his constituents.

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Gambling is identified as a public health issue in Australia, considering that hundreds of millions of dollars are lost to the activity on a monthly basis. The growing popularity of gambling activities pushed lawmakers to take action and attempt to curb the rate of problem gambling and gambling harm by overhauling the existing regulations.

Now, a new inquiry by the Victorian Labor government urges the Commonwealth Government to implement meaningful changes to protect consumers from excessive gambling and harm.

The new 240-page document describes findings for the prevalence, harm and benefits of gambling and liquor, the regulation of gambling, the prevalence and harm of online gambling as well as reducing gambling harm. Besides detailed findings, the report outlines important recommendations, calling for robust changes to the established regulations with the ultimate goal of protecting the consumers.

Issued by the Public Accounts and Estimates Committee, the new report describes a worrying trend about the impact of sports betting and excessive gambling advertising, calling for changes to prevent and reduce gambling harm. Sarah Connolly MP, the Committee’s chair, wrote about the positive changes in Victoria involving the reduction of harm related to alcohol and gambling products. Yet, she warned that more needs to be done to protect communities across Victoria.

According to Connolly, the government needs to step up and implement further changes that safeguard users from gambling and alcohol-related harm. Overall, the new inquiry issued 61 recommendations that according to the Committee, can bring meaningful changes. “More appropriate regulations and safeguards are needed to protect Victorians, especially our children and young people,” wrote Connolly.

Restricting Primetime Gambling Advertising

The newly released report cited data from the Victorian Responsible Gambling Foundation, which revealed that in 2021, an average of 948 gambling ads were broadcast daily via free-to-air TV. During family viewing hours between 6 PM and 8:30 PM every weeknight, an average of 148 gambling ads were broadcast.

Considering this data, the inquiry recommended stricter rules for primetime gambling advertising. The inquiry proposed the implementation of rules such as the ones that were recently adopted by the South Australian Government.

When it comes to sports betting, the inquiry identified it as the “fastest growing form of gambling in Victoria and the fastest growing form of online gambling in Australia.” Citing data from the Queensland Government Statistician’s Office, the inquiry reiterated that more than AU$1.2 billion ($792.7 million) is lost to sports betting annually. Moreover, it warned that some 44% of the adults in Australia admitted to gambling on sports or racing in 2022.

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A proposed ballot referendum petition aimed at repealing public funding for a new Major League Baseball (MLB) stadium in Las Vegas has been rejected by a Carson City judge. 

Nevada Judge Deems A’s Stadium Ballot Initiative ‘Legally Deficient’

The ballot initiative, challenged by the teacher union-led political action committee (PAC) known as “Schools Over Stadiums,” sought to ask voters whether to approve or reject $380 million in public financing for a $1.5 billion, 33,000-seat stadium on the Las Vegas Strip, intended to be the new home for the relocated Oakland A’s.

During the hearing, Judge Russell emphasized that the issue at hand was the adherence to state law governing the referendum process, reported The Nevada Independent. He pointed out that the petition’s description of the measure’s effect was unclear. Russell further stated that the referendum petition was legally deficient because it did not provide the full text of the measure when gathering necessary signatures, as mandated by the Nevada Constitution.

The ruling means that the “Schools Over Stadiums” PAC can either submit a new referendum petition or appeal the decision to the Nevada Supreme Court. However, any signatures gathered under the rejected petition would be invalidated.

Representatives from the PAC expressed their intention to appeal the decision, indicating their resolve to continue the legal battle. Chris Daly of the Nevada State Education Association, the teachers’ union sponsoring the petition, stated that it seemed they would have to appeal to the Supreme Court or refile their petition.

MLB Owners Await A’s Relocation Decision Amidst Stadium Funding Concerns

The rejected petition, if successful, would not have prevented the A’s from relocating to Las Vegas. Instead, it would have increased team owner John Fisher’s share of the stadium costs, currently standing at $1.1 billion.

In October it emerged that Gaming and Leisure Properties (GLPI), a real estate investment trust, is reportedly considering increasing its investment in the Las Vegas baseball stadium to be built on the site of Tropicana Las Vegas. The $1.5 billion project, supported by the Nevada government, has received $175 million from GLPI.

Meanwhile, MLB owners are expected to approve the A’s planned move during their upcoming winter meetings in Arlington, Texas. MLB Commissioner Rob Manfred had previously emphasized the significance of the referendum’s outcome, indicating that any adverse development related to the referendum would be of great importance.

The new MLB stadium will be constructed on the site of the Tropicana Las Vegas casino, which shall have to be demolished as soon as late 2024. The stadium, primarily funded by the Oakland A’s with a cost of around $400 million, aims to be ready for the 2028 season.

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PAGCOR has clarified that the matter concerned not so much gambling as much as it did job postings and advertisements promising excellent salaries and working conditions. According to the regulator, those ads were the work of “unscrupulous groups” involved in human-trafficking and crypto scams.

Beware of Fake POGO Job Postings, Says PAGCOR

POGOs have been causing a lot of stir in Asia, and specifically those that have been running their operations illegally in the region. Unlawful POGOs have been attracting local and foreign nationals with the promise of tidy salaries, with those arriving only to find themselves put in squalor and exploitative working conditions.

Workers attempting to leave have been beaten and placed in captivity, PAGCOR warned, citing years of reports about the issues. However, PAGCOR is now doubling down on its efforts to inform the public and keep job-seekers from falling prey to such predatory practices. For the most part, the offers that are posted concern Customer Service Representative positions that have to do with crypto trading.

The ads run by the criminal offer a high basic salary along with bonuses. However, many of these ads are proving bogus and the work of human-trafficking rings, organized criminal groups, and scammers. PAGCOR has urged the public to always make sure that a POGO that is advertising jobs is part of the Offshore Gaming Licensees and Service Providers list.

This is a list of entities that are authorized to offer gambling legally in the country and are the only ones that can be posting job offerings for similar positions. This renewed regulatory zeal comes in the wake of enforcement action that saw a POGO provider operating in Sun Valley Clark had its license suspended.

The country has also been grappling with another matter, which is the appearance of a fake website that “stole” the name of a US history awareness project and used it to beguile unwitting citizens into illegal gambling.

PAGCOR has been toughening its tone on gambling operations. The regulator explicitly warned POGOs to not sub-license to third parties, as that would breach their own licensing conditions and lead to enforcement action.

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US casino giant Caesars Entertainment opened its temporary gaming facility in Columbus, Nebraska, on Monday morning, offering players in the state slot gambling and horse racing while continuing works on its permanent facility.

Offering Slot Entertainment

The temporary facility at Platte County Ag Society Park offers fans of slots more than 250 of the newest slot machine games, as well as wagering on horse racing via the Columbus Casino’s existing simulcast and is expected to keep players entertained until the permanent casino operating under Caesars’ popular brand, Harrah’s, becomes operational.

Speaking at the opening ceremony in the presence of Caesars’ leadership, Columbus Exposition and Racing board member, Tom Jackson, and Mayor of Columbus, Jim Bulkley, the senior vice president and general manager of Harrah’s Columbus, NE Racing & Casino, Don Ostert, hailed the opening as “a huge milestone” for everyone involved with the casino project.

“With the tremendous support from the community of Columbus, we’re proud to open our doors and welcome guests to the temporary facility for the first time,” Ostert said during the ribbon-cutting ceremony officially welcoming players to the facility.

The temporary facility was approved during the December 21, 2022, meeting of the Nebraska Racing and Gaming Commission, alongside the beginning of construction work for the permanent casino that would be located off Highway 81 on the former Wishbones property.

The temporary facility was initially slated to open to the public in March but it was not until May when Caesars Entertainment and the company’s local investors finally received all regulatory approvals to open the venue in June.

Part of Caesars Rewards Loyalty Program

As part of Caesars’ expansive Caesars Rewards loyalty program, the temporary Columbus Casino is offering players to redeem their Reward Credits at any of Caesars’ more than 50 properties in North America, including the future Harrah’s Columbus, NE Racing & Casino.

Being built in partnership with Columbus Exposition and Racing, Harrah’s Columbus, NE Racing & Casino will feature the longest thoroughbred racetrack in Nebraska, a 28,000-square-foot casino with more than 500 slots and 14 table games, as well as a sportsbook, according to the visualizations Caesars presented earlier this year.

The Brew Brothers, a restaurant brand founded by the Carano family in 1995, and a bar named after a beloved event district in the city, Wishbones, will take care of food and dining options, while a next-door built and connected via a walkway to the casino Marriot Fairfield Inn and Townplace Suites will provide hospitality for the casino guests.

Construction works on Harrah’s Columbus, NE Racing & Casino are underway and the gaming facility is slated to greet its first customers in the first half of 2024.

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The global gaming supplier that creates systems, content, and hardware connecting iconic titles across all channels has sent the proposal to the board of directors governing its social casino arm SciPlay Corporation. 

Provided the proposal will be received and accepted, SciPay would turn into Light & Wonder’s wholly-owned subsidiary. 

$20 per Share in an All-Cash Transaction

The acquisition proposal that Light & Wonder was “pleased to propose” mentions a possible merger that would see SciPlay’s shareholders, different from Light & Wonder and its subsidiaries, receiving $20 in cash per share for every SciPlay Class A common stock owned. 

This would lead to an enterprise value of $2.1 billion for the online casino arm as well as a premium of 28.5% determined on their closing stock price recorded on May 17, 2023, which was the last day of trading prior to the proposal being officially made. 

Should Light & Wonder manage to successfully acquire the remaining 17% equity interest that, at the moment, it does not own, it would pay a total of $422 million. The offer is regarded by Light & Wonder as a way of bringing its businesses together by merging their balance sheets.

At the same time, the company expects the transaction to trigger a “seamless collaboration with SciPlay” that would add more momentum to its cross-platform strategy which is always well-developed.

If it would be given the green light, the acquisition would offer more flexibility for investing cash across the enterprise, thus generating more value for shareholders. At the start of March, the company announced it recorded a 17% consolidated revenue growth for the year, which was expected to assist it with its growth plans. 

A similar Acquisition Proposal in 2021, Rejected 

The current proposal comes after the company, which is fully committed to its responsible corporate efforts, made a similar effort to acquire the rest of the outstanding shares in SciPlay in 2021. 

The proposal was withdrawn in December of that year because it met resistance from the same board of directors that is not left pondering the decision.

At the moment, Light & Wonder owns around 83% of SciPlay’s economic interest and 98% of its voting interest. 

Light & Wonder’s chief executive officer Matt Wilson explained that SciPlay’s public shareholders would benefit from a “compelling” mix of certainty, speed, and premium value. 

Wilson also explained that the company does not expect the consummation of the transaction to ask for any approvals from regulators or shareholders, in an attempt to significantly simplify and speed up the transaction. 

Light & Wonder also used the letter sent to SciPlay Corporation’s board of directors to explain that, in their capacity as a shareholder of SciPlay, they would not vote in favor of any alternative merger, sale, or different type of corporate transaction regarding SciPlay, or proceed to sell or divest any portion of its ownership interest.

At the end of April, the company announced an expansion of its OpenGaming content with Rogue Games.

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