In a landmark decision following the Switzerland casino industry’s delegate meeting on May 22, the Swiss Federal Council has unveiled new regulations for casino licenses, set to commence in January 2025. These licenses will be granted for 20 years, introducing new casinos and reinforcing industry standards.

New Casinos in Prilly and Winterthur

As part of the new licensing framework, new casinos have been approved in Prilly and Winterthur. Notably, the Winterthur casino will replace the current venue in Schaffhausen, as no application was submitted for the latter location. This shift underscores the evolving landscape of Switzerland’s gambling industry.

Gerhard Pfister, President of the Swiss Casino Association, hailed the new licenses as a historic milestone for Switzerland’s gambling sector. “The granting of the new concessions is a milestone,” Pfister stated. “The federal government has recognised that today’s casinos ensure safe and responsible operations and generate great economic benefits in their region.”

Enhanced Industry Collaboration

The Swiss Casino Group venues in Zurich, Schaffhausen, St. Gallen, and Pfäffikon have unanimously joined the Swiss Casino Association. Winterthur will also submit a membership application once it opens. This development means that all 21 land-based and 10 online casinos in Switzerland are now members of the Swiss Casino Association.

Pfister emphasized the benefits of this unified collaboration, stating, “I’m pleased that Swiss Casinos has joined the association and with it the entire casino industry with one voice can speak.” Marc Baumann, a board member of Swiss Casinos, added, “The online business is changing the Swiss casino industry sustainably. We are happy to work together with the Swiss Casino Association to help shape the future.”

Revenue Trends: Land-Based vs. Online Casinos

In 2023, Switzerland’s land-based casinos experienced a slight decline in revenue, generating CHF 623 million in gross gaming revenue (GGR), down 1.1% from the previous year. Conversely, online casinos saw significant growth, accumulating CHF 286 million in GGR, a 14.3% year-on-year increase. This trend reflects a broader shift towards digital offerings in the gambling industry.

Casinos also saw a 3% increase in tax contributions, with the state receiving CHF 409.3 million in 2023. Over the past 20 years, Swiss casinos have contributed over CHF 8 billion in taxes, primarily benefiting the country’s AHV pension system.

Record Profits for Loterie Romande

In related news, the Loterie Romande public lottery reported a net profit increase to CHF 5.1 million for 2023. The lottery will distribute a record CHF 243.7 million to good causes, despite a 3.4% drop in gross gaming revenue to CHF 420.7 million.

Jean-René Fournier, Chairman of Loterie Romande, attributed the profit rise to stringent management of operating costs, enhanced digital offerings, and the introduction of the EuroDreams draw game. “This result can be attributed in particular to the rigorous management of operating costs, the strengthening of our digital offering, and – with the launch of the European draw game EuroDreams in October 2023 – the diversity of our product range,” Fournier explained.

The Swiss Federal Council’s new casino licensing regulations mark a significant evolution in the country’s gambling industry. With new casinos in Prilly and Winterthur and a reinforced industry collaboration through the Swiss Casino Association, the future of Swiss gambling looks robust and promising. As the sector shifts increasingly towards online gaming, these new regulations ensure a balanced approach to growth and responsible operations.

Source: “Switzerland federal council grants all casinos new licences from 2025”. May 24, 2024.

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Romania’s parliament has voted in favor of a series of strict gambling restrictions on the sector, marking an important shift in the regulatory landscape. 

The list of regulations includes a ban on slot machines as well as the shutdown of gambling halls in smaller settlements with a population under 15,000 people.

The new decisions that have already been enacted have sparked a lot of controversy while also attracting praise from anti-gambling supporters. 

Uncommon Display of Unity 

The enactment of the new measures follows months of dormancy for the country’s proposed gambling law, which all of a sudden found itself thrown into the spotlight, quickly passing through all parliamentary committees and receiving the unanimous seal of approval from all political parties. 

This was quite an uncommon display of unity shown by Romania’s political area. 

The measures received 243 votes in favor, two against, and four abstained. 

Despite the bill’s unanimous support, the opposition has already raised concerns over the possible collusion between representatives of the gambling sector and government officials. 

More accountability and transparency are required as a result of accusations regarding undue influence and backroom deals, which have cast a shadow over the entire legislative process. 

Commercial Premises Require Town Hall Certificates 

According to the fresh legislation, to be allowed to operate slot machine games, commercial venues need to be located in administrative-territorial units that count a population that does not go over 15,000 inhabitants, as per a certificate released by their town halls. 

The law also states that it is prohibited to provide, directly or indirectly, gambling-related services to unauthorized entities and specific technical measures to prevent illegal access to online gambling.

The same regulation requires the National Gaming Office (ONJN) to create and maintain an online public register containing a list of all licensed operators in the country. 

The register must receive updates daily. The new measures that require a technical implementation will be detailed in an order of the ONJN president, which will be issued within 90 days of the time the ordinance will come into effect. 

The same measure also forbids operators from providing direct and indirect associated gambling services to unauthorized entities as well as a series of technical measures that would prevent illegal access to online gambling. 

Last week, the country’s government sparked debate with the freshest appointment of celebrity hairdresser Cristian-Gabriel Pascu as the vice president of the National Gambling Office.

Last October, Romania announced its plans for higher fees and stricter demands for operators.

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The UK government has announced big online gambling legislation changes coming up in September. 

The authorities have set a maximum stake limit of £2 ($2.53) for online slots that they will introduce for the first time in history at the end of 10 long weeks of consultations during which most respondents were in favor of the proposal part of the gambling white paper.  

The consultations hosted a series of industry views from providers of gambling harem treatments, academics, and individuals.

The £2 threshold will apply to players ages 18 to 24. A different £5 ($6.33) limit for adults who are at least 25 years old will also be applied. 

Countering the Risk of Life-Changing Losses

The changes come in the well-known context of the increasing popularity recorded by online casinos with special emphasis on easily accessible online slot games. 

The latter represent one of the most addictive forms of gambling and they are often associated with long gameplay sessions, binge gambling, and losing large amounts of money with serious negative impacts on players’ lives. 

The fact that they do not have any statutory stake limits, which is the case for slot machines in brick-and-mortar casinos, has convinced the government in the UK to take action. 

The lower stake limit for young adults between 18-24 has been chosen as a result of this age group having the highest average problem gambling score of all the assessed groups. 

Moreover, the group also has lower levels of disposable income, deals with neurological development that can impact the way they perceive risks, and they also need to learn how to manage money for the first time. 

Additional evidence has also shown a more powerful stronger link between harm related to gambling and suicide among the younger population.

Backup from GambleAware

Gambling Minister Stuart Andrew spoke about the evidence that “shows that there is a significantly higher problem gambling rate for online slot games.”

In connection to the vulnerability expressed by young adults concerning gambling-related harms, added Andrew, the government has decided to address both of these matters in the new white paper.

GambleAware‘s chief executive officer, Zoë Osmond, welcomed the announcement and described the decision as “an important mechanism to protect young people.”

Osmond added that while they will keep working toward fighting this “growing public health issue,” they will also work together with the government and others in the gambling harms sector to introduce better preventative measures. 

Earlier in the week, the UK Gambling Commission announced the launch of a pilot scheme for enhanced affordability checks.

In the context of GambleAware’s survey which showed strong public support for affordability checks, the pilot is expected to be successful. 

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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.

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Nevada has hit the jackpot, breaking records with its best-ever October gaming win, marking the sixth-best month in the state’s history. The Nevada Gaming Control Board released figures showing a staggering $1.3 billion collected, reflecting a robust 2.7% increase over the previous year.

Anticipation Mounts for November Figures Following Downtown Las Vegas Triumph

Downtown Las Vegas emerged as a star performer, raking in a record-breaking $97.5 million for the month. Industry experts are now eagerly awaiting November figures, anticipating the impact of the inaugural Formula 1 Las Vegas Grand Prix that roared down the iconic Las Vegas Strip. With the addition of two new properties, Durango and Fontainebleau, December is also poised to be a strong month for gaming.

Michael Lawton, senior economic analyst at the Nevada Gaming Control Board, hinted at the anticipation surrounding the November gaming win totals. Lawton remarked that there would be significant anticipation to observe the results and the impact of F1 Las Vegas Grand Prix, advising everyone to stay tuned.

Despite October having one less weekend day compared to the previous year, nearly every Southern Nevada market experienced an increase in gaming wins. The Boulder Strip saw a significant uptick of 10.3% to $88.6 million, while Laughlin climbed 5.3% to $47.6 million. However, North Las Vegas reported a marginal decline of 0.8% to $23.4 million.

October marked a reversal in trends, with various markets, including downtown Las Vegas, Laughlin, the Boulder Strip, outlying Clark County, and Washoe County, contributing to increased slot-machine win totals, primarily driven by higher hold percentages.

Challenges Emerge as Slot-Machine Wins and Table-Game Wagers Decline in October

The state’s gaming numbers continue to outpace pre-pandemic levels, with October 2023 boasting a 28.7% increase, amounting to $293.3 million more than the same month in 2019. This milestone also marks the 32nd consecutive month that the state has recorded at least $1 billion in monthly gaming wins.

Las Vegas Strip properties continue to thrive, benefitting from residencies, concerts, and sports events. Notable performances by Adele, U2, Pink, Ed Sheeran, and sporting events like the NASCAR Xfinity Series and the Las Vegas Raiders’ home games contributed to the city’s vibrant gaming scene.

However, the report revealed a gradual slowdown in gambling on the Strip, with slot machine wins decreasing by 1.1% and the total amount wagered down by 1.3% to $4.9 billion. 

October marked the third consecutive month of slot-machine revenue declines, breaking a streak of 30 consecutive monthly increases dating back to March 2021. Table-game play also saw a decline, with a drop in money wagered, despite a 4.4% increase in table-game wins.

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The pioneer business-to-business online slots provider that recognized the potential of “gaming on the GO” almost two decades ago, Play’n GO, has announced that it has broken its record for the number of rounds played in a day. 

The Swedish-based developer of some of the most iconic, frequently-played online casino games in history, including the Book of Dead series, Reactoonz, or Moon Princess, has reached almost 250 million rounds played on November 1, 2023. 

The figure marks an all-time high for the studio since it first opened its virtual gates to the public in 2005. The number underlies the “enduring strength of the company” as well as their ongoing expansion across global regulated gaming markets. 

At the moment, the company’s 300 premium games are delivered to casino operators in over 25 global jurisdictions.

Breaking Records, a “Testament” to Play’n GO’s Hard Work 

The company’s chief commercial officer, Magnus Olsson, commented on the new record, 

describing it as “a testament to the hard work of everyone at Play’n GO” as well as worldwide players’ appetite for their games.

Olsson also explained the impressive record reached by the company through their excellent selection of titles that keep being “extremely sticky with the millions of unique players” who enjoy playing them on a daily basis. 

The CCO took the opportunity to mention the upcoming release of blockbuster titles like Gargantoonz, which is their latest addition to the popular Reactoonz series launched almost a decade ago, and which is also expected to help them finish the year with even more impressive records.

Olsson also expressed his feelings of pride regarding the work of the entire team, calling it “brilliant” to be rewarded with a new all-time high. 

More Than One Million Daily Players

Play’n GO’s titles are played by over one million players on a daily basis. The freshly announced record follows a number of impressive achievements that were attained by the company in recent months. 

The list includes the highly-anticipated release with important Tier 1 customers like BetMGM via the New Jersey launch, Sisal, Sky, Betway, or BeyondPlay, or foraying into a land-based environment for the first time in history with the launch of the iconic Book of Dead game with William Hill in the UK. 

Play’n GO has also been busy scooping up new licenses in US states that have embraced iGaming, including the AGCO license for Ontario while preparing the launch of Network Leaderboard promotions at a worldwide level across a number of countries and gaming operators.

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Gaming Innovation Group (GiG) has set out to acquire affiliate specialist KaFe Rocks in a new EUR 35 million (approximately $37.4 million) acquisition deal. The deal will solidify GiG Media’s position as a lead generator in the iGaming market and will expand the company’s presence in the lucrative North American casino sector.

Under the agreement, GiG will pay EUR 15 million in cash once it closes the deal. The rest of the money will be paid out in four semi-annual installments over the next two years. The latter payments will depend on certain performance targets. GiG will also pay EUR 2.5 million in shares subject to specific operational cost-saving targets.

KaFe Rocks is a major iGaming affiliate with a portfolio spanning over 15 markets. The company is behind Time2play.com and USCasinos.com, two US-oriented affiliate brands. Time2Play has been demonstrating spectacular growth, making it a valuable asset for GiG.

GiG Media remains committed to growing the acquired assets and maximizing their profitability. KaFe Rocks is expected to generate revenue of EUR 23 million in 2024 with an EBITDA margin of over 45%.

The acquisition is expected to close in December 2023 and is still subject to regulatory approvals.  

A Momentous Occasion for KaFe Rocks

Aimee Speight, a KaFe Rocks spokesperson, commented on the agreement, calling it a “momentous occasion.” He said that his team considered several buyers but was eventually persuaded to pick GiG Media because of its impressive performance.

For reference, GiG has continued to post record-breaking results for 12 quarters in a row. Speight added:

Joining GiG Media, we are optimistic about seeing Kafe Rocks business venturing into new heights.

Aimee Speight, spokesperson, KaFe Rocks

Jonas Warrer, GiG’s newly appointed chief executive officer, also commented on the agreement, expressing his desire to cement GiG as the leading casino affiliate in the industry. He said that the acquisition of KaFe Rocks “validates these goals.”

In KaFe Rocks, we’ve found a flourishing business led by an exceptionally skilled team. Their reputable affiliate assets will undoubtedly drive growth for the broader group. I eagerly await working closely with the KaFe Rocks team.

Jonas Warrer, CEO, GiG

In other news, GiG just published its Q3 results, reporting another quarter of robust revenue growth across core verticals.

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Brazil’s Ministry of Finance has released a comprehensive set of requirements for sportsbook operators intending to enter the regulated market after its establishment. All interested operators must express their intent within 30 days to expedite the process. The new regulatory framework is now under Senate review after approval in the lower house earlier this year.

Players Will Receive Vastly Improved Protections

The Ministry of Finance’s Ordinance No. 1,330 outlines general rules for sportsbook operators, focusing on several crucial aspects, including responsible gambling, payment procedures, and marketing standards. Companies wishing to operate legally in the country must obtain a grant set at BRL30 million ($6 million), valid for three years.

One notable requirement is the prohibition of granting concessions to companies with shareholders, directors, and corporate members who are athletes, sporting officials, or directors of national sports teams. This move aims to mitigate conflicts of interest, particularly after the soccer match-fixing scandal that recently impacted Brazilian sports.

To promote responsible gambling, operators must restrict access to their platforms for individuals under 18. They must also implement safer gambling tools, including daily time limits, loss limits, self-exclusion options, and time-out periods. These measures aim to protect Brazilian consumers, curb addiction rates, and promote safer gambling practices.

The Bill’s Financial Aspect Remains Hotly Contested

The document also introduces strict advertising regulations, especially near schools and universities. Promotional material in such educational settings cannot suggest that gambling leads to personal success or improved financial conditions. Operators are not allowed to let players use third-party payment methods, and all industry advertising must be based on social responsibility and awareness, carrying the message “Play Responsibly.”

Despite the substantial improvements to player safety, the new legislation faces significant criticism regarding its taxation updates. The Brazilian Institute of Responsible Gaming spoke out against the planned tax increase of 18%, arguing it could hinder Brazil’s nascent sports betting industry, hampering its growth and competitiveness with gray market operators. Such a tax burden could significantly hurt the regulated sector, causing reduced investments in essential fields.

Since the document is a government ordinance, the rules have immediate effect, leaving little room for further discussion. Overall, Ordinance No. 1,330 represents a significant leap forward in Brazil’s efforts to impose order on its gambling industry. However, the country must demonstrate its ability and willingness to enforce its new rules, ensuring violators and illegal operators receive swift punishments.

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The long-anticipated opening date for Fontainebleau Las Vegas, the towering 67-story casino resort on the iconic Las Vegas Strip, might have just been revealed. While Fontainebleau has yet to officially announce the date, a recent report from the Las Vegas Review-Journal suggests that Wednesday, December 13, is the day when the resort will unlock its doors to the public.

Fontainebleau Las Vegas Overcomes Delays for December Debut

The Fontainebleau Las Vegas, known for its distinct blue tower, will be the first new casino resort to grace the Las Vegas Strip since Resorts World‘s debut back in June 2021.

Standing tall as the tallest building in Nevada, the Fontainebleau will house a staggering 3,644 hotel rooms, making it a prominent addition to the Las Vegas skyline. Additionally, it boasts over half a million square feet of convention and meeting space, with its primary exhibition area sprawling over 105,200 square feet. It’s a testament to the resort’s grandeur, as it rises from the ashes of the demolished El Rancho Hotel and Casino site.

The journey to this grand opening has been fraught with challenges. Initially announced in May 2005 with a projected opening in 2008, the Fontainebleau faced setbacks due to the Great Recession and the impact of the COVID-19 pandemic. However, Koch Industries’ real estate investment arm, in collaboration with Miami real estate developer Jeffrey Soffer’s Fontainebleau Development, acquired the towering structure in 2021, giving new life to the iconic project.

In December last year, Fontainebleau Las Vegas secured a $2.2 billion loan from various banks and investors, ensuring the completion of its long-delayed project, with plans to open in 2023.

While in June this year, Fontainebleau Las Vegas made strategic senior-level appointments to bolster its leadership team ahead of its December opening, with Mark Tricano becoming the president, Michelle Reda taking the role of chief casino marketing officer, and Kimberly Virtuoso being promoted to senior vice president of people. 

Fontainebleau Las Vegas Unveils Extravagant Casino, Dining, and Entertainment Options

Fontainebleau Las Vegas will offer a vertically integrated casino experience, much like the Cosmopolitan, with its gaming area occupying the ground floor and the second and third floors dedicated to retail and dining. The casino floor is set to feature an array of 1,300 slot machines, including multigame options with video poker, keno, and blackjack, as well as 127 table games offering blackjack and three-card poker. Enthusiasts can also look forward to a spacious sportsbook spanning.

The resort plans to pamper visitors with 90,000 square feet of high-end retail space, though specific retailers are yet to be announced. In the culinary department, Fontainebleau aims to delight with 27 upscale dining options, including the American restaurant Vida and Southeast Asian cuisine at Komodo, among others.

Entertainment seekers will be spoiled for choice with three distinct venues – a day club, a nightclub named LIV, and a massive 3,800-capacity theatre, all curated by Miami-based Groot Hospitality and nightlife guru David Grutman. Fontainebleau has already managed to lure superstar DJs Tiesto and Zedd away from Resorts World’s Zouk Group, setting the stage for thrilling nights on the Strip.

High above, the resort’s rooftop pool deck will offer seven different pool experiences sprawled across six acres, providing a luxurious retreat for guests.

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Spearheading the drive towards comprehensive gaming reforms, the panel tackled pressing issues, including the imminent cashless gaming trial and the roadmap for the industry’s transformation.

Panel’s Commitment to Cashless Gaming Framework Lauded by Minister

Minister for gaming and racing, David Harris, expressed his satisfaction with the Independent Panel’s commitment to meticulously craft the framework for the upcoming cashless gaming trial. The trial, which has garnered significant attention, aims to revolutionize the gaming landscape by introducing cashless transactions while ensuring robust data security and privacy safeguards.

Harris stated: “The Panel’s first priority is to confirm the design and regulatory settings for the expanded cashless gaming trial, to ensure it can start as soon as possible.” 

The ambitious endeavor involves selecting the ideal mix of venues encompassing hotels and clubs across both urban and rural domains.

The panel, led by former NSW Office of Liquor, Gaming and Racing Commissioner Michael Foggo, will also furnish the NSW Government with a comprehensive gaming reform implementation roadmap by November 2024. This roadmap encompasses various facets, including recommendations on the utilization of a $100 million harm minimization fund, the expansion of self-exclusion records, the facilitation of third-party exclusions, and the integration of facial recognition technology to support enhanced exclusion systems.

Independent Panel’s Scope Expands to ClubGRANTS and Regulatory Revamp

The reform agenda does not encompass only that. The Independent Panel’s purview extends to reviewing the ClubGRANTS Scheme, conducted in coordination with Liquor & Gaming NSW, The Cabinet Office, and NSW Treasury. Although undertaken separately, this evaluation aligns with the panel’s ongoing efforts to reshape the gaming landscape. Chairman Michael Foggo affirmed:

“The panel is set up so that a range key stakeholders and experts are represented including industry, gambling harm minimization experts, academic experts, law enforcement and cyber security. It also has the ability to seek input from other external experts in the field and government bodies such as the NSW Crime Commission, the NSW Information and Privacy Commission and AUSTRAC.” 

This transformative journey follows a series of pivotal reforms already set in motion by the NSW Government. Measures like the prohibition of external signage in gaming rooms, reductions in poker machine entitlement caps, and stringent cash input limits have aimed to curtail gambling harm and combat illicit activities.

Furthermore, the reforms will also include a national gambling regulator and a ban on all forms of gambling advertising, with an emphasis on strengthening consumer protection and reducing harm. The move towards stricter regulations is fueled by a desire to better safeguard consumers and curb the negative impacts of gambling.

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