Representatives from leading trade associations in Italy’s gambling industry united in a resounding voice at the “Game: One Market, One Reorganization” conference by the Milton Friedman Institute. The participants highlighted concerns over the government’s proposed exorbitant increase in license fees, urging for correct and uniform regulatory and economic policies.

Attendants Highlighted Worrying Industry Trends

The event drew united representatives from leading associations, with Alessandro Bertoldi, Executive Director of the Milton Friedman Institute, presiding over the conference. Bertoldi emphasized the unjustified drastic spike to €7 million ($7.66 million) from 2018’s €200,000 ($392,000) could have a lopsided impact on market dynamics, legality, and consumer protection.

The regulatory interventions that the Government is preparing will once again create disparities by favoring the illegal market and heavily conditioning the free market.

Alessandro Bertoldi, Milton Friedman Institute Executive Director

Emmanuele Cangianelli, President of the Italian Association of Public Games Operators, advocated for an integrated overhaul of gaming distribution channels and products. He urged clear regulations on payment services to bolster online gaming, emphasizing the importance of preserving the uniqueness of concession titles while offering multi-channel consumer choices in legal gaming.

Geronimo Cardia, President of ACADI, Italy’s Association for Slot Machine Vendors, lamented the sector’s decade-long struggle due to fragmented and partial interventions, emphasizing the negative impacts on public interests, legal compliance, and employment levels. He stressed the detrimental effects of prioritizing remote gaming reorganization over retail, reducing revenues, compromising player protections, and stifling SMEs.

Smaller Businesses Will Suffer the Most

These were far from the only concerns, as other representatives underscored the significance of recognizing small and medium-sized gaming enterprises, highlighting the sector’s economic contribution and employment opportunities. They urged inclusive policies benefiting diverse operators, noting that the drastic fee increase would reduce active operators to 20, down from the present 91.

Stakeholders also used this opportunity to reiterate their opinions on Italy’s blanket ban on gambling advertising, arguing that it hurt the competitiveness of licensed operators and was partly responsible for the proliferation of black market players. The industry united in support of small and medium-sized businesses, most susceptible to regulatory uncertainties.

The legal gaming sector expresses its disappointment at the missed opportunity for an organic overall and coordinated reorganization.

Moreno Marasco, Logico President

The united front of industry representatives conveyed a clear message urging the government to adopt comprehensive, fair, and cohesive policies that uphold legality, support diverse operators, and prioritize consumer welfare in its approach to the sector’s reorganization. However, the Italian government has not proven receptive to industry input and may push on with its reforms regardless of stakeholder warnings.

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Levi & Korsinsky, a prominent law firm, has united individuals affected by the recent Caesars Rewards Casino data breach to participate in a potential lawsuit. The cyberattack compromised the personal information of more than 65 million Caesars Rewards members, raising concerns of potential fraud and identity theft. However, it is yet unclear whether the victims can receive compensation.

The Firm Will Help Protect Customer Rights

Levi & Korsinsky is inviting individuals who have received notifications regarding the data breach to get in touch. The law firm stressed that participation in this process carries no cost or obligation. Levi & Korsinsky will ascertain whether those impacted by the breach are eligible for compensation and may pursue legal action.

The potential compensation concerns Caesars Rewards members who received an official notice regarding the data breach involving their personal information. Cyberattacks of this nature often contain malicious intent, as hackers may seek to sell the stolen data on the dark web, engage in identity theft, or commit financial fraud. Companies may bear responsibility for not adequately safeguarding their customers’ privacy in such cases.

This announcement comes amid a series of data breaches that have affected companies in the gaming and entertainment industry. MGM Resorts and Caesars Entertainment have faced class-action lawsuits alleging their failure to protect customer data. Levi & Korsinsky’s involvement may herald a turning point for these legal battles as the company possesses substantial experience with such cases.

Cyberattacks Are an Everpresent Danger

A recent Microsoft report tied the cyberattacks against Caesars Entertainment and MGM Resorts International to a broader hacker collective known as Octo Tempest. The attackers are infamous for many successful attempts on wealthy individuals’ wealth and assets. A Bloomberg report alleged that Caesars paid millions to the attackers to preserve critical company data.

Despite the hacking incidents and following legal actions, Caesars and MGM have reported impressive financial results for the respective quarters following the data breaches. Caesars revealed consistent growth in land-based and online operations, contributing to its total net revenue of nearly $3 billion.

While the hacking debacle temporarily affected some venues, business has returned to normal.
The ongoing lawsuits highlight the importance of cybersecurity measures and proper training. Groups like Octo Tempest primarily rely on social engineering to obtain vital credentials and gain access to restricted systems. The recent attacks represent a costly wake-up call for the gambling industry as leading operators scramble to update their protocols at the risk of another major breach.

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