International Game Technology PLC (IGT) has introduced its latest multi-level progressive (MLP) game, Diamond Mania, into Spain’s Amusement with Prize (AWP) salones sector. This release follows the notable success of IGT’s Magic Fortune Link AWP game, which recently achieved a significant milestone with over 1000 units deployed across Spain.

IGT continues its strategic expansion in the Spanish market with games that are both innovative and tailored to local player preferences. “Following the successful deployment of our first salones-specific title, Magic Fortune Link, we are thrilled to introduce Diamond Mania. This new multi-game jackpot is designed to help operators enhance their gaming floors and achieve outstanding results,” stated Maria Aldana, IGT Director of Sales Western Europe and Africa.

A Tailored Gaming Experience

Diamond Mania has been specifically crafted for the salones market, featuring four engaging base game themes: Samurai Takeo, Majestic Stallion, Ramosis Treasures, and Wish Mistress. The game is built on proven mechanics to ensure a captivating experience, offering players special bonuses such as a reel boost, a prize boost, and a jackpot bonus. These features can trigger further in-game enhancements like super games and mega games, providing a pathway to winning one of four progressive jackpots.

Enhanced Gaming Technology

The game is housed in the BINTIA 27-inch multi-game cabinet, which boasts dual HD monitors and an optional topper that mimics casino-style aesthetics. It features an ergonomic design, programmable LED lighting, sharp high-resolution graphics, an immersive sound system, and can be equipped with a TITO (Ticket-In, Ticket-Out) system, enhancing the overall player experience.

Diamond Mania is exclusively distributed by Orenes Grupo, a leader in the Spanish salones sector for operations and gaming machine distribution. IGT also revealed plans to further expand its portfolio in this market later this year with the launch of Treasure Box, its third MLP game developed specifically for the sector, which encompasses approximately 3000 gaming and bingo halls across Spain.

This strategic expansion by IGT underscores its commitment to enhancing its presence in key international markets by offering products that resonate well with regional audiences and meet the evolving demands of operators and players alike.

Source: “IGT Expands Footprint in Spain’s ‘Salones’ Sector with Launch of New Multi-level Progressive Theme”. European Gaming. May 8, 2024.

The post IGT Launches Diamond Mania MLP in Spain’s Salones Sector appeared first on Keno Wizard.

This week has been very eventful for the Australian casino sector as Crown Entertainment reached a significant milestone in its journey towards compliance. Meanwhile, rival Star Entertainment faces another inquiry into its suitability as new revelations fueled the ongoing controversy surrounding the operator, highlighting the stark differences between the two companies.

Crown Entertainment Has Achieved Substantial Progress

The NSW Independent Casino Commission (NICC) has deemed Crown Sydney suitable to retain its casino license, signaling confidence in the company’s ability to uphold regulatory standards. This decision comes after almost three years of intensive remediation efforts by Crown, during which the company has undergone significant transformation. While this marks a milestone victory for Crown, the company must not grow complacent.

NICC chief commissioner Philip Crawford emphasized that while Crown has made substantial progress, there is still room for improvement. He underscored the importance of ongoing efforts to maintain high standards and cultural transformation within the organization. Crawford noted that the NICC would closely monitor the company to ensure it remained compliant.

This decision is a positive outcome for Crown Sydney, its staff, and the community – who can be sure the NICC will use all of its powers to keep the casino in check.

Philip Crawford, NICC chief commissioner

In response to the NICC’s decision, Crown Resorts expressed its commitment to continued collaboration with regulatory authorities as it fosters an improved internal culture free of past deficiencies. Crown Sydney CEO Mark McWhinnie highlighted the company’s dedication to implementing comprehensive reforms and operating at the highest industry standards as it remains committed to ensuring player safety and satisfaction.

Star Entertainment Remains Mired in Controversy

Meanwhile, the chairman of Star Entertainment Group, David Foster, faced criticism regarding controversial statements about the state’s gaming regulator. Foster reportedly expressed a desire to “abolish” the NICC. This revelation coincides with a public inquiry into Star Entertainment’s casino license suitability, adding to the growing controversies surrounding the company.

Foster clarified that his remarks addressed perceived disparities between casinos and other gaming establishments. He emphasized the need for a level playing field and denied any intention to undermine the NICC’s authority. Despite Foster’s reassurances, questions remain about the nature of his interactions with regulatory authorities, prompting speculation about the company’s compliance efforts.

There weren’t concerns around the NICC, it was a desire to broaden the scope of regulation of the industry.

David Foster, Star Entertainment Group chairman

The developments underscore the growing cultural differences between Australia’s leading casino operators. Crown Entertainment and Star Entertainment face similar challenges in maintaining transparency and accountability, but one company appears to be doing a better job. As regulatory agencies enforce stringent standards, the operators must demonstrate a steadfast commitment to compliance and responsible gaming practices.

The post Australia’s Casino Sector Sees Substantial Developments appeared first on Keno Wizard.

The legalization of online gambling in New York has been a hot topic for years. Sen. Joseph Addabbo, one of the supporters of iGaming, has been pushing for its legalization since 2019. Despite his previous proposals which have not gained enough traction to be passed into law, earlier this year, he filed his latest proposal for iLottery and iGaming in New York. Introducing Senate Bill 8185 earlier this month, the Senator stayed true to his word after hinting about such plans last year.

The iGaming and iLottery proposal seeks to further expand the gambling options available for New Yorkers. Since the state legalized and launched its online sports betting market, it surpassed records that have taken years to set in other jurisdictions. In fact, January was another record-breaking month for online sports betting.

Just like online sports betting, Sen. Addabbo seeks to legalize iGaming with the state reaping all the benefits that come along. The legalization of the activity will not only generate tax revenue but provide New Yorkers with platforms that are licensed to offer such services thus reducing the share of the black market.

Despite the benefits, not everyone agrees with the proposed iGaming legalization. The initiative caught the attention of the Hotel & Gaming Trades Council union with workers from Resorts World casino voicing their concerns about the potential negative impact of online gambling.

iGaming Opponents Warn the Activity May Hurt Brick-and-Mortar Casinos

According to a report by the New York Post, close to 700 brick-and-mortar casino employees opposed the iGaming proposal, citing concerns about the future of their employment. “We find it appalling that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense,” reads a letter sent by the Hotel & Gaming Trades Council union.

In their letter, the workers spoke about the proceeds from gambling at retail casinos, saying that such activities help support not only dealers but hotel workers, cooks, servers, bartenders and more related jobs. The Hotel & Gaming Trades Council union’s letter explained that if New Yorkers can gamble from their smartphones, they won’t visit a brick-and-mortar casino, adding that the money gambled “would go straight into the pockets of gaming companies, rather than to support the livelihoods of thousands of New Yorkers who support the state’s gaming industry.”

But Sen. Addabbo disagreed with the workers’ concerns. He explained that the legalization of online gambling is only a matter of time highlighting that the legal iGaming market can generate between $800 million and $1 billion in revenue annually.

Moreover, Sen. Addabbo said that based on studies, the online gambling sector would not reduce the work for the retail casino industry. Finally, he said that an estimated $25 million per year would be dedicated toward protecting jobs in the casino industry while at the same time, iGaming dealers would be a part of the state’s union.

The post New York iGaming Legalization Faces Opposition from the Retail Sector appeared first on Keno Wizard.

The US Department of the Treasury has published its 2024 National Money Laundering Risk Assessment. The report highlighted, among other things the online gaming and sports betting sector’s vulnerability to money laundering.

According to the Treasury, the anonymity provided by the online gambling sector provides some unique money laundering risks. While US casinos have a number of AML laws to follow, as per the Bank Secrecy Act (BSA), not all operators are aware of their obligations, the department pointed out.

Considering the volume of betting, the fast growth of the online gambling market and the disparities between separate jurisdictions, enforcing the requirements is a challenging task, the US Treasury noted. As a result, the US online betting market is exposed to “significant and increasing money laundering risks.”

While the legal betting sector is very vulnerable to money laundering, illegal gambling operators represent additional dangers. Cryptocurrency-based casinos, for example, are no ubiquitous and add more nuance to the saturation.

The US Department of the Treasury noted that some fraudsters would deposit criminally acquired money into online sports betting accounts and then withdraw them to disguise them as winnings.

The Treasury has already recorded a number of such cases, including a recent fraud that saw a Georgia man launder a whopping $1 million through a betting account. The money had, in reality, come from faith-based charities and individual donors. The money, initially intended for religious purposes, was appropriated for personal gain.

The Department Wants to Raise Awareness of AML Risks

The Treasury’s report hopes that it would be able to raise awareness of the issue and educate organizations about the vulnerabilities of the US business sector. To that end, the department also emphasized other risk-heavy sectors, such as dealings with Russia and North Korea. The former is increasingly keen on acquiring US-origin military products, while the latter has been leveraging hackers to undermine and exploit the American digital economy.

Brian E. Nelson, the department’s under secretary for terrorism and financial intelligence, concluded that the Treasury remains committed to protecting the US economy from fraud.

Treasury, through our National Risk Assessments, is at the cutting edge of analyzing the global risk environment to protect the US and international financial systems from abuse by illicit actors.

Brian E. Nelson, under secretary for terrorism and financial intelligence, US Department of the Treasury

Nelson urged businesses within the public and private sectors to familiarize themselves with the Treasury’s full report and stay tuned for the forthcoming National Strategy for Combating Terrorist and Other Illicit Finance.

The post US Treasury’s 2024 AML Report Highlights Vulnerabilities of the iGaming Sector appeared first on Keno Wizard.

The leading provider of regulatory and business intelligence, powering the global payments and gambling industries, Vixio Regulatory Intelligence, released a new report, highlighting the potential of the online gambling sector in Brazil. Released just in time for the start of the ICE 2024 convention in London, the new Brazil Online Outlook report analyses the potential of the iGaming vertical in the country.

In its report, Vixio delves into the online gambling regulations in Brazil, analyzing strategic processes related to compliance and licensing. Vixio’s report also explores the competitiveness of the iGaming sector in the country along with possible growth opportunities through lotteries or advertising.

Notably, Vixio predicted the possible development of the Brazilian online gambling sector. The company’s report estimated the iGaming vertical in the country may generate $3.7 billion by its third year of operation. Moreover, by year five, the online gambling sector in Brazil is estimated to generate a staggering $4.9 billion.

Back in December, lawmakers in Brazil added a provision for online gambling as a part of legislation that seeks to legalize sports betting in the country. This marked an important step, paving the way for the possible legalization of iGaming activities.

The Success of the Market Is Contingent on Its Regulation

Yet, according to Vixio, the success of the online gambling market is subject to a number of conditions that are yet to be determined. For example, if iGaming operators need to ink deals with local partners the market’s attractiveness may be impacted. A major factor is also the taxation of online gambling, along with license and other fees that may apply for iGaming operators. Whether or not Brazil’s online gambling sector would permit bonuses or other incentives is also imperative when it comes to the attractiveness of the sector.

Mike Woolfrey, Vixio’s CEO, revealed that the market in the country has been a focus for the company over the last 15 years. He said that it is expected that many companies are thrilled to enter the online gambling market in the country, considering the “series of false starts in terms of expansion of land-based casinos and bingo halls over recent years.”

James Kilsby, Vixio’s chief analyst and a co-author of the report, spoke about the importance of the online casino legislation in Brazil. He explained that this legislation “should enable Brazil to realize its potential as a major market on a global scale, with the country set to join the UK and Italy among the largest regulated online gambling jurisdictions in the world while surpassing the likes of Australia, France and New Jersey in the near-term.” Finally, Kilsby outlined that the regulation of the sector will play an important role in its growth and attractiveness.

The post Brazil’s iGaming Sector to Generate $5bn, Says Vixio Report appeared first on Keno Wizard.

Leading iGaming tech company Gaming Innovation Group (GiG) has announced the completion of its acquisition of KaFe Rocks, a major online casino affiliate. The announcement was first announced in November and saw the tech giant acquire the affiliate in a EUR 35 million deal.

According to GiG, the new acquisition will position its proprietary media division, GiG Media, as the leading iGaming affiliation brand. The move will also cement GiG’s position in the key North American market, the company added.

As previously announced GiG will pay a total of EUR 35 million (roughly $38.5 million current rates) for the acquisition. This includes an upfront cash payment of EUR 15 million (16.5 million), followed by semi-annual payments totaling EUR 20 million ($22 million). GiG may also issue EUR 2.5 million ($2.75 million) in own shares to the sellers in Q1 2024.

KaFe Rocks’ assets are consolidated as of December 21, 2023.

The Deal Is in Line with the Company’s Overall Strategy

The acquisition of Kafe Rocks follows GiG’s takeover of AskGamblers, previously owned by Catena Media.

The growing affiliate strength of GiG Media positions it to drive KaFe Rocks’ growth, allowing it to expand substantially. GiG also believes that the natural synergies with KaFe Rocks will allow the latter brand to secure revenue of $25 million, as well as an EBITDA margin of over 45%.

The acquisition of KaFe Rocks is also in line with GiG Media’s business diversification efforts. Diversification remains an important strategic goal for the company, which seeks to solidify its business by having a wide customer base, multiple websites and businesses in many key jurisdictions.

Jonas Warner, Gaming Innovation Group’s group chief executive officer, commented on the completed deal, expressing his satisfaction with the new acquisition. He said that the transaction is in line with the company’s goal to maintain its leadership position in the world of casino affiliation and expand GiG’s presence across the lucrative North American market.

The inclusion of KaFe Rocks aligns perfectly with these objectives. We’ve identified a thriving business led by an exceptionally skilled team. We eagerly anticipate integrating KaFe Rocks into the GiG family, unlocking additional business value to benefit our partners and investors.

Jonas Warner, group CEO, GiG

In other news, GiG just completed the issuing of an $81 million senior secured bond issue. Shortly after, the company announced the appointment of Matthew Saxon as its new chief technology officer.

The post GiG Completes KaFe Rocks Deal, Sets Out to Conquer the Casino Affiliate Sector appeared first on Keno Wizard.

In line with the industrial trends for an active engagement in addressing the current social and environmental issues, the Malta Gaming Authority (MGA) has introduced the Environmental, Social and Governance (ESG) Code of Good Practice for the remote gaming sector.

Self-Regulation Instrument

The ESG Code represents an instrument to help remote gaming companies opt for the best social and environmental practices through a self-regulation process. Albeit voluntary, the ESG process is highly recommended for the sector as the proposed adoption of the ESG practices will demonstrate the commitment of MGA licensees to sustainable operations across all the remote gaming sector stakeholders.

During the press conference, MGA CEO Carl Brincat reportedly said:“The MGA has always strived to be at the forefront of regulatory innovation and progress. We have been working not only to supervise the gaming industry, but also to nurture it, to foster a space where operators can thrive, while ensuring that the welfare of society remains paramount. Our ESG Code represents our commitment to this.”

Minister for the Economy, EU Funds and Lands Silvio Schembri reportedly commented: “All businesses should embrace tools to reduce risk and transform successfully, and when it comes to remote gaming, one of the tools is using ESG metrics.’’

Minister added: “The ESG code will serve as an instrument for self-regulation, helping remote gaming companies align with best practices and maintain a position that allows them to effectively meet the evolving expectations of key stakeholders in the sector.”

ESG Code Features

The ESG Code production has been carried out in several stages including the peer review and research stage, stakeholder interviews, and consultation with licensees to ensure that the ESG Code comprehensively addresses social and environmental concerns of the industry stakeholders.

The Code includes three categories, Environmental, Social and Governance, to identify a total of 19 ESG topics and provide the effective guideline for remote gaming companies to secure effective reporting practice.

The MGA will classify these reports into Tier 1 and Tier 2 reports depending on the extent of reporting exercised by the companies. For this purpose, the ESG Code offers a flexible approach for companies to meet the basic standard requirements and choose optional disclosures of their respective social and environmental practices.

No specific targets have been set by the ESG reporting but rather focused on the reporting process itself. The companies submitting reports under this code will be awarded the MGA ESG Code Approval Seal acknowledging that companies demonstrate the commitment to ESG. The seal will differentiate Tier 1 and Tier 2 reports.

ESG Reporting Process

The Code will be submitted on a voluntary basis and will be separated from other ESG disclosures to the regulatory bodies. Submissions will be confidential and available via an MGA online platform. The ESG reporting schedule will follow the financial year reporting and is expected to launch in 2023, with the deadline for submission set for the third quarter of 2024.

Source: “MGA Publishes Voluntary ESG Code of Good Practice”. European Gaming. November 13, 2023.

The post MGA Proposes Adoption of ESG Code By Remote Gaming Sector appeared first on Keno Wizard.

Earlier this year, lawmakers in India pushed forward a significant change in the taxation for online gambling. At the time, the regulatory body in charge of recommendations to the implementation of the Goods and Services Tax (GST), the Goods and Service Tax Council, greenlighted a proposal for the introduction of a 28% tax applicable for gambling activities, including online gambling, casinos and horseracing. The changes effectively increased the tax rate for all gambling, as well as gaming activities such as fantasy sports to 28%.

Previously, the tax rate applicable for gaming activities like fantasy sports was 18%. However, with the recent change, gaming activities are taxed the same way as gambling activities. To make matters worse, the Council said that the new tax rate would be backdated to the introduction of GST which happened back in July 2017.

The taxes for gambling and gaming activities were previously applied to each operator’s gross revenue. This has also changed, and taxes are now applied to the total amount wagered by the players.

The combination of those controversial decisions has put many operators in a difficult spot and according to one industry expert, the Indian government may face further challenges soon. Ritesh Kumar Singh, the founder and chief executive of Indonomics Consulting, a policy research and advisory company, recently commented on the topic in an opt-ed released by Nikkei Asia. Explaining the current situation, he revealed that many companies within the gaming and gambling sector may go bankrupt.

Citing recent reports, Singh said that companies within the sector have already received notices about billions of rupees past due. Moreover, he cited reports of companies, claiming they are asked to pay 10 times their annual revenue due to the new taxation.

Tax Rate May Push Operators to Operate Illegally, Conceal Revenue

The industry expert explained that India’s public debt currently exceeds 90% of GDP and while the government is trying to control this, tax revenue remains around 11% of GDP. “Consequently, New Delhi feels compelled to enact stringent tax measures to bridge its revenue gap. The unfortunate consequence is a resurgence of exorbitant tax demands on business and an apparent increase in rejections of GST refund claims,” explained Singh.

Focusing on the gambling sector, he predicted that despite ramped-up taxes, gambling operators will continue to offer their services rather than disappear, considering the high demand. However, Singh warned that the increased tax rate may push some operators to conceal cash transactions in order to reduce the tax they pay. Finally, he warned that other gambling operators may consider operating illegally.  

The post Gambling Tax Increase in India May Shake the Sector appeared first on Keno Wizard.

The gambling regulator in Pennsylvania, the Pennsylvania Gaming Control Board (PGCB), releases monthly reports revealing details regarding the performance of regulated gambling operators in the state. Such reports include insights regarding the total revenue generated from all forms of gambling, including slots, table games, online gambling, sports betting, video gaming terminals (VGTs) and fantasy contests.

Based on the latest report, released on Tuesday, August was a busy month for the gambling industry across Pennsylvania. Overall, the combined total revenue generated from all forms of gambling last month hit $457.2 million. This result, when compared to the corresponding period in 2022, marked an increase of 7.47%. Although the latest result shows an increase year-over-year, it was no match for the $467 million in total revenue posted by the gambling sector a month earlier, in July.

PGCB’s latest report reveals that during August, all forms of gambling activities managed to generate collectively $189.4 million in taxes. It’s no surprise that this result didn’t surpass the $192 million in taxes posted a month earlier.

iGaming Revenue Skyrockets in August

A breakdown provided by the gambling regulator reveals that revenue reported by online gambling activities last month soared. Overall, the iGaming slot revenue in August hit $105.3 million, a result that marks an increase of 39.03% year-over-year. Similarly, iGaming tables revenue soared, hitting $37.3 million. A comparison to the $28.7 million in iGaming tables revenue from last year shows that an increase of 29.76% is observed this year.

Despite the growth of iGaming slot and table games revenue, retail slots were responsible for the lion’s share of the proceeds last month. Overall, retail slots revenue hit $203.2 million in August this year, up by 0.95% when compared to August 2022. Retail tables revenue increased by 5.38% to $82.7 million last month.

In contrast to the positive results, sports betting revenue in August plummeted to $22 million. A year-over-year comparison to August 2022 when sports wagering revenue hit nearly $34 million shows that this year, a decrease of 35% is observed. Generally, there are fewer sports events taking place during the summer which is why this result doesn’t come as a surprise.

Another decrease in revenue was observed in iGaming poker. Overall, the revenue from the activity in August halted at $2.4 million, down 10.92% year-over-year. The revenue reported by VGTs last month sank by 5.40% to $3.5 million, while fantasy contests revenue decreased by 5.81% to $792,206.

The Majority of Gambling Operators Post Increase in Revenue

This August marked a successful month for the majority of gambling operators in Pennsylvania. Out of the nearly two dozen operators, only 7 posted a year-over-year decrease in their revenue.

Focusing on the positive results, Lady Luck Casino Nemacolin saw its revenue increase by 23.51% year-over-year to $2.1 million last month. A similar percentage of growth was observed with Hollywood Casino at Penn National Race Course’s revenue. Overall, the casino posted a revenue increase of 23.41% to $75.2 million this August.

Valley Forge Casino Resort saw its revenue increase by 14.34% to $48.8 million last month, while Wind Creek Bethlehem posted revenue of $47.1 million, up by 10.18% year-over-year. August was successful for Harrah’s Philadelphia as well, which posted a revenue increase of 12.75% to $19.7 million.

The post Gambling Sector in Pennsylvania Posts Strong August Results appeared first on Keno Wizard.

Flutter Entertainment announced that its Alpha Hub startup partnership program is looking for fresh companies that are able to create innovative safer gambling solutions. The program’s goal is to shape a better future for gaming and society as a whole, in line with the Positive Impact Plan.

Flutter’s Positive Impact Plan utilizes the company’s global presence to achieve important sustainability goals. As a company committed to having a positive impact, Flutter helps communities “Do More.” By the end of 2030, the operator hopes to have improved the lives of no less than 10 million people through sport, play and its colleagues’ skills.

In addition, Flutter seeks to help its customers “Play Well” and is working hard to promote its Play Well safer gambling tools to its players. The company hopes that at least 50% of its players will use these tools by 2026 and 75% by 2030.

Flutter’s Positive Impact Plan is reflected in its Flutter Tech4Good Award and the Flutter & RGC: Play Well Challenge initiatives that are focused on responsible gambling and community support.

The Flutter Tech4Good Award initiative seeks to leverage technology to solve pressing social issues and appeals to startups at any stage from around the world to join the initiative. Flutter wants to collaborate with startups that are meeting the needs of disadvantaged groups and have a clear plan to measure the impact of their solution.

Flutter & RGC: Play Well Challenge is a collaborative effort with the Responsible Gambling Council (RGC) that seeks to solve real-world problems for the industry in partnership with promising startup companies. The challenge is seeking entrepreneurs and startups that want to create a better customer experience for everyone.

Flutter Desires to Make a Change

Conor Lynch, CIO at Flutter, commented on the Flutter Tech4Good Award and Play Well Challenge initiatives, saying that they align with the company’s ambitious targets. He added that the company plans to provide full support to promising startups that can make a change.

As part of this, we want to utilize our global scale and in-house talent to support the innovative startups that are developing technology that enhances consumer protection and drives positive change in the communities in which we operate.

Conor Lynch, CIO, Flutter

Meanwhile, Shelley White, chief executive officer of the Responsible Gambling Council, said that her team is proud to join Flutter for the Play Well program and work to minimize the negative impact of gambling-related harm.

The Flutter & RGC Play Well Challenge has the ability to drive real change in Responsible Gambling, globally, and ultimately create a safer gambling experience for millions of people.

Shelley White, CEO, RGC

Startup companies can find more information on how to apply on Flutter’s official website.

The post Flutter Seeks Startups Able to Improve the Gaming Sector and Tackle Societal Challenges appeared first on Keno Wizard.