GiG Sale of B2C Business on Track to Close Mid-April

GiG Sale of B2C Business on Track to Close Mid-April

Gaming Innovation Group’s (GiG) sale of its B2C gaming and sports betting brands to Betsson was this week approved by antitrust regulators, enabling the deal to close by mid-April.

GiG announced in mid-February plans to offload its B2C division to Betsson in a bid to focus on its B2B operations. The move would help the company “reduce complexity and improve efficiency.”

Under the terms of the deal, Betsson, which already operates a multi-brand online casino and sports betting portfolio, has agreed to pay €33 million to acquire GiG’s B2C operations. The purchase amount includes €22.3 million in cash payment, €8.7 million in prepaid platform fee, and €2 million in cash deposit securing GiG’s Spanish casino license.

GiG said this week that it would use part of the proceeds from the sale of its B2C operations to repay its SEK300 million 2017-2020 bond, which would help it strengthen its balance sheet and reduce significantly the financial leverage ratio.

GiG’s B2C operations include the Rizk, Guts, Kaboo, and Thrills online casino and sports betting brands. Under the terms of the sale, Betsson will keep all four websites operational on GiG’s proprietary iGaming platform for the first 30 months after the transaction closes.

During the first 24 months, Betsson will pay a premium platform fee based on net gaming revenue generated. Based on estimated platform fees, GiG could trouser up to €50 million from the sale of the four brands.

Freeing Up Resources to Spearhead B2B Growth

GiG has previously explained that its decision to divest its B2C business was a result of a strategic review as the company seeks to “reduce complexity and improve efficiency.”

The online gambling group has also pointed out that the sale of the four iGaming and wagering brands would free up resources and enable it to fully dedicate its attention to driving and growing its B2B business, and thus secure stable and sustainable earnings and profit margins.

According to GiG, there is a “large and sustainable addressable market” for its platform business as iGaming continues to become a regulated industry in more and more countries around the world.

As part of its strategic review, GiG has also decided to make its platform “sportsbook agnostic” and to partner up with betting technology providers in a bid to offer its clients the best possible wagering solutions.

Under the deal for the sale of GiG’s B2C brands, Betsson will integrate its sportsbook solution onto GiG’s platform. As a result, the two companies will be able to sell their B2B solutions without creating conflict in the B2C vertical.

Commenting on their decision to offload their B2C brands, GiG CEO Richard Brown said previously that the deal would enable them to focus on their growth in the B2B sector and that while offering both B2B and B2C products had synergies in the past, the “current conflicting priorities of the two business areas, and increased complexity in the market, have lessened the potential offering on both fronts and our ability to sign new customers.”

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NetEnt Expands in Switzerland Thanks to New ISO 27001 Certification

Online casino games supplier NetEnt announced that it was awarded the global standard ISO 27001 certification that would enable it to enter new regulated markets.

The first such new regulated market NetEnt entered after it obtained the ISO 27001 certification was Switzerland.

The ISO 27001 certification is awarded to companies that prove commitment to information security management. The testing and certification process covers protection of sensitive information as well as development, infrastructure, and network configuration.

Of the recently received certification, Henrik Fagerlund, Managing Director of NetEnt’s Maltese operation, said that it is “an important acknowledgment” for the company and the result of “dedicated and hard work from our team.”

Mr. Fagerlund went on to say that NetEnt prides itself “on being a reliable, trustworthy, and secure partner” to its customers and their players.

Aside from demonstrating its commitment to data security management, the ISO 27001 certification also enables the casino content supplier to enter new regulated territories and participate in World Lottery Association procurements which has not been possible before.

Swiss Expansion

Switzerland has become the first regulated territory NetEnt has debuted its content portfolio in since the company obtained its ISO 27001 certification last week.

The Swedish provider said that its casino games content is now live with the online gaming operations of Grand Casino Luzern and Grand Casino Baden.

Switzerland reorganized its iGaming market last summer, and Grand Casino Luzern and Grand Casino Baden were among the first local land-based casinos to go live with gambling websites.

The integration of NetEnt content with Grand Casino Luzern was carried out via Paf’s iGaming platform, while the integration with Grand Casino Baden took place via the Gamanza platform.

The Swedish iGaming content supplier said that it is on track to roll out its games portfolio with several other Switzerland-licensed gambling operators in the coming months.

Delivering on Growth Strategy

Commenting on their Swiss market entry, Mr. Fagerlund said that the move was part of their efforts to continue to deliver on their strategy to “grow by strengthening our position in regulated markets.”

The official added that they are pleased to have taken “this step into the Swiss market and look forward to launching our award-winning games with even more operators soon.”

The newly obtained ISO 27001 certification will also enable Red Tiger to offer NetEnt Group solutions in markets where such certification is required.

NetEnt acquired fellow gambling content provider Red Tiger last fall. The Swedish group announced last month that it initiated a restructuring to accelerate the full integration of Red Tiger with its new parent organization.

It became known that the restructuring included laying off 120 employees, mostly ones based in NetEnt’s Stockholm and Malta offices.

NetEnt said that the full integration would “strengthen competitiveness and increase value creation in the company.”

Source: NetEnt enters the regulated market in Switzerland following new global ISO 27001 certification

Soft2Bet Expands in India with Four Brands

Multi-brand online casino and digital sportsbook operator Soft2Bet has entered a new market as part of its continued effort to constantly expand its presence.

The company announced today that it has marked its debut in the Indian iGaming and online sports betting market with the launch of four of its brands in the country.

Wazamba, Rabona, Nomini, and Campobet have been the four Soft2Bet-owned operations to have gone live in India.

The online gambling operator also revealed plans to take the rest of its brands live in the Indian market in the near future.

With population of more than 1.3 billion people, India is seen as an emerging market with huge growth opportunities. Soft2Bet said that its entry into that market demonstrates it worldwide appeal as it continues to grow its presence across new markets around the world.

Soft2Bet’s portfolio currently includes 16 online casino and sports betting brands. The innovative sportsbook Rabona was the latest operation to join the company’s ever-growing library.

Rabona is named after the popular football skill and aims to bring gamification to sports wagering. The online sportsbook’s in-built gamification tool enables bettors to collect cards with popular football teams and players, in addition to the traditional sports betting experience offered by the brand.

Indian Expansion

Soft2Bet’s Indian debut includes both online casinos, which are extremely popular among local gambling customers due to their gamification, as well as online sportsbooks, which, among other sports, offer wagering on cricket – India’s most popular sport.

Commenting on Soft2Bet venturing into India, the operator’s Chief Business Development Officer, Uri Poliavich, said that they are delighted to have taken their products to market in India and thrilled to deliver their gaming and betting experience to “an exciting new audience.”

Of their global expansion campaign, Mr. Poliavich said that “global expansion is a key tenet for Soft2Bet, and placing our brands in front of such a large market is sure to lead to some very interesting opportunities in the future.”

News about Soft2Bet’s Indian debut emerge a couple of weeks after the gambling operator has entered Sweden’s regulated iGaming space with its YoYo Casino brand. Soft2Bet was able to enter the Swedish market after it obtained a license from the local regulator, Spelinspektionen, late last year.

It was late last year again when the gambling operator announced its entry into another Asian market. Soft2Bet launched its AlfCasino brand in Japan to explore growth opportunities in the lucrative Japanese iGaming space.

Last month, the operator announced a partnership with Playtech to take more than 100 premium gaming titles from the provider’s portfolio live across its online casino brands.

Source: Soft2Bet enters Indian market with four hit brands

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Twitter Updated Privacy Features, Crypto Community are Not Happy

According to an official update from the social media platform Twitter, it has removed one of its privacy features. Twitter is basically a free platform for users, and advertisers are its main source of revenue. To strengthen that model and maintain a beneficial proposition for advertisers on the platform, Twitter will share certain non-public information with them from now on. 

According to the update, Twitter users will no longer be able to control mobile app advertising measurements. However, it is their discretion, if they want to share non-public data to improve Twitter’s marketing activities on other sites and apps. 

Previously Twitter did not have the right to share data related to the ads you saw or clicked on Twitter with advertising platforms. However, with the recent removal of the data-sharing setting in regard to mobile app measurements, the above-mentioned information will be shared with third-party platforms by default. 

A Twitter spokesperson stressed the fact that this is a very crucial move in order to continue providing free services to users. 

Reaction from the crypto community

This decision has not gone down well with the crypto community. Crypto enthusiasts are by nature very defensive about privacy and security. After Twitter announced the new update, a whole lot of crypto supporters expressed their discomfort via tweets.

Zooko Wilcox, creator of Zcash tweeted that he would rather pay to use Twitter, than have his private information being manipulated supplied to third-party platforms. On the other hand, Ryan Selkis, the founder of crypto data provider Messari, stated that he is ready to pay as high as $1000 for a premium Twitter account. 

The common sentiment in the crypto community is that Twitter should make its service chargeable rather than allowing advertisers to pick up massive amounts of non-public data from millions of Twitter users. 

After GVC, Push Gaming Now Partners with William Hill

Online casino content provider Push Gaming has added a new top-tier client to its ever-growing network amid its ongoing transformation from a boutique casino games developer to a full-fledged industry supplier.

The company announced today that it has partnered up British bookmaker William Hill to provide it with its entire slots portfolio.

Popular Push Gaming titles such as Jammin’ Jars, The Shadow Order, and Razor Shark will go live with William Hill. The supplier will keep rolling out content with the operator as it releases new games in future.

The integration will be carried out via Push Gaming’s in-house gaming platform. The provider will be adding content to William Hill’s games library in the coming weeks.

This is the latest major content supply deal announced by Push Gaming in recent days. Last week, the company announced that it has partnered up with another big industry name as it looks to grow its network of clients and its presence across new and existing markets.

Push Gaming revealed last week that it has agreed to supply its content portfolio to GVC Holdings’ online gaming brands, which include Ladbrokes, Coral, and bwin, among others.

Just as with William Hill, Push Gaming’s suite of casino games will be rolled out across GVC’s brands in several phases.

Teaming Up with an Industry Titan

Of their recent partnership with William Hill, Push Gaming’s CEO, James Marshall, said that the legacy British bookmaker is “a titan of the industry and [they] are delighted to be supplying them with a selection of [their] games.”

Mr. Marshall also noted that the first batch to be added to William Hill’s existing offering will include a selection of Push Gaming’s most popular games, with more titles set to be integrated in the coming months.

The supplier’s chief added that their content has “proven to be hugely popular with players all over the world” and that they believe their games will be a big hit with William Hill’s player base, as well.

As mentioned above, Push Gaming is currently transforming its business from a boutique online casino games developer to a full-blown supplier of content for the online gambling industry that manages its own proprietary platform.

The ongoing transformation was boosted by the acquisition of Game Server Integrations (GSI), which Push Gaming announced early this year.

Thanks to the deal, Push Gaming will be able to implement its growth plans throughout the year, which include the introduction of new content as well as of platform feature innovations and in-game mechanics. All these are anticipated to hit the iGaming market in the months to come.

Push Gaming’s titles are all designed to provide an immersive and engaging, mobile-focused gaming experience. Its games are available across all devices and operating systems, including on desktop.

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COVID-19 Could Neutralize Post Bitcoin halving Price dump

Some cryptocurrency experts have speculated that the market crash brought about by the COVID-19 global pandemic could actually reduce the risk of BTC price dump post the Bitcoin halving. 

In a webinar discussion among top crypto experts, Chris Bendikson, Head of Research at CoinShares expressed his opinion about the possible crypto scenario post Bitcoin halving.

He believes that miners have already prepared themselves for the halving following the price crash in March. As a result of which there will not be much of an impact on their profitability, and the situation has compelled miners with backdated equipment to either drop out or upgrade.

Chris Bendikson thinks that there could be a slight volatility post the halving for a few months, but post that, the mining industry will find itself in a strong position with a low-cost base. 

He went on to add, “What that means is that miners are likely to not have to sell as high of a proportion of their mined coins as before the halving and the actual halving, when you add that to this, means that we’re potentially about to see a midterm bullish virtuous cycle in the making.”

Importance of Bitcoin Explained

Alex Laughton-Scott, Associate Director of CoinShares, on the other hands seemed pretty optimistic about Bitcoin. He opined that this is a perfect time for the world to understand and acknowledge the importance of Bitcoin, its uses, and its benefits.

He said that the post-COVID-19 Bitxoiun scenario could be a really bright one, and this period when the world is under a lockdown could well serve as a ‘brewing period’. 

Scott stressed on the fact that, amid any sort of crisis, ‘all correlations go to 1’. He explained that the price dump in March was further enhanced by stop losses and automated trades, apart from the low market cap, which eventually led to high volatility.

However, he is also optimistic about the fact that these correlations will eventually drop, and as they do, the institution will realize how crypto can fetch massive benefits during crises. 

Leading the World of Bitcoin Betting & Online Casinos

Coinbet24 is one of the world’s most prominent Bitcoin sportsbooks and licensed bitcoin casino platforms. It was originally founded in 2015 and has come a long way since then. Coinbet24 enables users from across the world to place bets on their favorite sports leagues. Apart from its Live Bitcoin Casino, it also houses a whole lot of games on its platform including slots, table games, dice games, etc. on which users can play using Bitcoin or other cryptocurrencies. Moreover, it has made it extremely easy for users to participate – through a 4 step process that involves account creation, Bitcoin Deposit, Placing Bets, and withdrawing Bitcoin. It’s that simple. 

Let’s delve deeper into the various aspects of Coinbet24. 

Bitcoin Betting is the next big thing in the online gambling space, and Coinbet24’s bitcoin betting platform is the place to be. It allows you to place bets in top leagues across the world including UCL, UEL, EPL, NBA, NFL, NHL, etc. The platform also facilitates fast, secure, free and anonymous transactions – thus easing up your Bitcoin Betting experience. 

Coinbet24’s Bitcoin Casino is one of the most vibrant online gaming casinos out there. It houses a huge number of games roulette, bitcoin slots, blackjack, baccarat, dice games, etc. Moreover, it also offers a Live Casino equipped with live-dealer tables that provides a real experience from the comfort of your homes. And the best part, you hardly have to wait for your turn. All in all, Coinbet24’s Bitcoin Casino houses slots and games from across the world and has everything set up to satisfy your gaming lust while earning some good bucks. 

Advantages of using Coinbet24 for Bitcoin Betting

Fast, safe, secure transactions

Coinbet24 allows you to place bets and play with more than 100 cryptocurrencies including BTC, ETH, etc. Additionally, you can also use altcoins like BCH on the platform. Coinbet24 supports as many as 100 altcoins. Deposits and withdrawals on the platform are almost instant, once you create the account. Altcoin transactions on Coinbet24 are processed by Shapeshift. The platform also allows fiat deposits, the withdrawals of which take up to 24 hours. Moreover, you are not required to share any personal or financial information with the bookmaker, thus making it a very safe and secure platform. 

Large gaming index

If you are a game fanatic, with an interest in online crypto betting, Coinbet24 is your hub. It houses a whole lot of games including Texas hold’em, Hi-Lo Switch, Bet on Numbers, Five Draw Poker, Multihand Blackjack, Scratch Dice, Trey Poker, Minesweeper, Cash Tank, Pontoon, etc. It also adds exciting new games every once in a while to keep its repertoire updated. 

24/7 Customer Support

Dealing in cryptocurrency betting on online casinos can be tricky and confusing for some users. But, not here! Coinbet24 has a dedicated 24/7 customer service team, whom you can reach out via live chat, email or the website contact form. The team usually replies within minutes to solve your problem. 

Simple sign-up

This is the easiest part to get yourself going on Coinbet24. All you need to do is sign up using your email address and country of origin. Once done, you’re good to go! You’ll need to verify your email address in order to be eligible for payouts and withdrawals.

High returns and Promotional Offers

Coinbet24 offers the best and most competitive odds in Bitcoin betting with opportunities for high returns. It also has a range of beneficial promotional offers. All new players are eligible for a 50% introduction casino bonus. Apart from this, all users making their first deposit get a 100% deposit bonus up to 1 BTC. On top of these, Coinbet24 offers regular bonuses to both sportsbook and casino players, thus boosting Bitcoin betting odds by almost 30% over regular odds. 

Winding up! 

Now that you have an idea about Coinbet24, let’s highlight a factor that differentiates it from other online crypto betting platforms. 

The best thing about Coinbet24 is that it does not leave rookie gamers and Bitcoin betters high and dry. It is understandable that many players do not have a very clear idea about Bitcoin betting and online casinos. However, Coinbet24 has a dedicated blog and a Bitcoin Dictionary that is aimed to educate users about the perks of Bitcoin betting, the ways to use the Coinbet24 platform (right from account creation and betting to deposits and withdrawals) as well as the concept cryptocurrency as a whole. 

To sum it up, if you are planning to enter into the online crypto gambling and gaming space, place your bet on Coinbet24. It has been running successfully for over five years now and has emerged as one of the top crypto betting and gaming platforms. 

Sign up today, and start earning! 

 

SBTech joins forces with ORYX Gaming

SBTech has signed a partnership with ORYX Gaming, a Bragg Gaming Group, for its wide-ranging portfolio of casino content and marketing tools. 

The agreement will see ORYX’s entire RGS portfolio of casino and slot content made available to SBTech’s platform partners. 

The direct integration into SBTech’s iGaming platform will allow its platform partners quick and easy access to a library of over 250 games available via ORYX RGS, including ORYX’s proprietary content and games from partnered studios such as Gamomat, Kalamba, Golden Hero and Givme Games.

Gamomat Games offers over 100 titles exclusive to ORYX with features including unique side-game jackpots that have proven to be extremely popular with players. Golden Hero is the only real pachislot content provider in the iGaming market worldwide and ORYX holds the exclusive distribution deal for its content in Europe. SBTech partners will also have access to Kalamba’s content which offers advanced game mechanics and features that improve KPIs, increase acquisition, retention, monetisation and player engagement.

SBTech has a wealth of industry knowledge and experience, and powers some of the fastest growing and best performing operators in Europe; including Virgin Bet and Mansionbet, which will soon be able to benefit from a variety of unique and localised content as well as advanced marketing tools such as promotions, leaderboards, tournaments and jackpots through a single seamless integration.

ORYX is licensed by the Malta Gaming Authority (MGA) and the Romanian National Gambling Office (ONJN) and is compliant, certified or approved in 14 other major jurisdictions.

Letizia Angelo, Commercial Partnerships Director at SBTech, added: “We are delighted to add ORYX’s content to our award-winning iGaming platform further expanding our casino content mix for our partners. SBTech is committed to driving partner revenues in all verticals and by adding ORYX’s extensive range of gaming content we will continue to do so in these challenging times.”

Matevz Mazij, Managing Director of ORYX Gaming, said: “We’re thrilled to announce yet another partnership in what has been a very successful period for us in terms of growing our partner network of top operators and successful integration with Tier 1 platform providers. SBTech powers some fantastic betting and casino brands in many regulated jurisdictions which will give us access to a new and wide-reaching player base.”

Greece’s proposed licensing fees “out of line” according to IBIA report

The International Betting Integrity Association (IBIA) has criticised the Greek Government’s plans to set a 35% gross gaming revenue (GGR) tax rate for operators and proposals to introduce high licensing fees.

While the IBIA welcomed the Government’s decision to update its online gambling regulations, which was submitted to the European Commission in January, it has a number of concerns regarding the proportionality, effectiveness and reasoning behind some proposals.

Under particular scrutiny was the high GGR tax rate imposed on operators, which the IBIA said is particularly high and will act as a deterrent for operators applying for licenses, directly impacting consumer activity in the regulated market.

The IBIA added the proposed online betting license fee of €3m ($3.26m) for seven years is extortionate compared to the rest of the European market, where annual fees range from £2,200 (£2,734) to £19,333 in the UK.

The IBIA report said: “The approach proposed by the Greek authorities in relation to licensing fees is out of line with international norms.

“IBIA does not believe the burdensome licensing fee proposed and high taxation in Greece will prove successful in attracting operators or maximising the consumers channelling to that market.

“There is a clear danger many consumers will continue to be attracted to betting products in other more fiscally advantageous markets, negating Greek regulatory markets.”

The IBIA also mentioned its concerns about “discriminatory” player age restrictions, with 21 the minimum age for online gambling in Greece.

It urged the European Commission to request Greece reduce the online gambling age to 18 to be consistent with other EU countries, saying the current age restrictions raise EU competition law concerns, favouring OPAP products which can be accessed by customers aged 18.

Bloomberry Resorts creates hospital for COVID-19 patients

Bloomberry Resorts Corp has completed the conversion of its Manila sports venue into a hospital.

The company made a decision to turn the Rizal Memorial Sport Complex into a medical facility to fight the coronavirus and has constructed an emergency treatment area for those suffering from COVID-19.

Bloomberry Cultural Foundation initially turned Ninoy Aquino Stadium into a 116-bed unit that can house patients, has nurse stations and provides temporary furniture.

The makeshift hospital is now finished and, with its completion, the company has requested new permits to expand its efforts.

Bloomberry then moved on to create an additional 108-bed unit; construction is expected to be finished by the end of next week.

The second phase started on 8 April, after the announcement that the Philippine government extended the lockdown of the country’s main island Luzon until 30 April.

Bloomberry Resorts Corp stated it is happy to help in the fight against the pandemic.

Many of Bloomberry’s casinos and facilities will remain closed for the foreseeable future, both in the Philippines and outside.

Solaire Resort, a large complex in Manila, closed its doors mid-March, while Jeju Sun Hotel and Casino in South Korea is also temporarily closed until further notice.