Author: Danny de Abela-Borg

The United Kingdom government has declined a suggestion from a parliamentary committee to regulate cryptocurrency trading as a form of gambling. The House of Commons Treasury Committee’s report on the regulation of cryptoassets trading had proposed treating such trading as gambling due to their high volatility and lack of intrinsic value, which they argued served no useful social purpose. The committee believed these characteristics closely resembled gambling rather than a financial service. Government’s Response and Reasoning However, Andrew Griffith, the economic secretary to the treasury, rejected this call. While he acknowledged many of the consumer risks highlighted in the report,…

Swedish fintech firm, Zimpler, is taking a stand against an enforcement order issued by the Swedish Gambling Authority (SGA). The directive instructed Zimpler to halt the provision of payment services, which include BankID, to iGaming companies operating without a Swedish license. The SGA has set a deadline for the execution of this order by the 31st of July. However, Zimpler has chosen to challenge this decision, arguing that it is ‘misdirected and incorrect,’ with potentially broad implications. Zimpler’s Stance and Legal Implications Zimpler asserts that the SGA’s decision raises several legal issues that need to be clarified for certain payment…

Evolution, under the leadership of CEO Martin Carlesund, is poised for growth despite current challenges in its slot business. The company experienced a year-on-year increase in revenue and net profit for Q2, fueled by a strong performance from its live dealer sector. However, Carlesund acknowledges that achieving double-digit revenue growth from slots will take time and operational improvements. In Q2, Evolution, the live casino provider, reported revenue growth of €441.1m, up 28.2% from the same quarter last year. This growth was driven primarily by a 33.5% increase in live casino revenue, attributed to higher commission income from existing and new…

The Philippine Amusement and Gaming Corporation (PAGCOR) has announced its strategic plans to launch a new online casino, casinofilipino.com, set for early 2024. Aiming to revolutionize the gambling experience, PAGCOR is integrating virtual reality (VR) technology into its online platform. PAGCOR is incorporating VR technology into its online casino operations in a breakthrough move. By emulating the immersive atmosphere of traditional casinos, PAGCOR aims to provide players worldwide with an unprecedented gambling experience. This innovative approach is part of PAGCOR’s broader strategy to explore untapped markets and establish a stronger connection with international players. Upgrading Slot Machine Operations Parallel to…

Online casino operator Novibet has announced a significant partnership with NetGaming, a renowned innovative casino game content provider. This collaboration marks a milestone in the expansion of both companies, as it facilitates the introduction of NetGaming’s engaging game portfolio to Greek players for the first time. The Partnership and its Impact The strategic alliance between Novibet and NetGaming is set to enhance the gaming landscape in Greece. NetGaming’s captivating portfolio, which includes a wide range of slot machines and other casino games, will be distributed across several regions, focusing on Greece’s regulated market. This partnership is a testament to Novibet’s…

NeoGames shareholders have cast an overwhelming vote in favour of the business’s acquisition by Aristocrat Leisure. Of the 86% of outstanding shares voted, over 99% were in favour of the deal. This shareholder vote is the first of two necessary approvals for the acquisition to proceed. The Acquisition Details and Conditions If the deal finalises, NeoGames will move its statutory seat, registered office, and central administration from Luxembourg to the Cayman Islands. An Aristocrat subsidiary will merge with NeoGames, with the latter surviving as a subsidiary of Aristocrat. The merger agreement also hinges on a shareholder vote, requiring at least…

Betsson, a leading online gaming company, recently reported record-breaking revenue for the second consecutive quarter in Q2. The group’s total revenue reached an impressive €236.8m. This figure represents a substantial increase from previous quarters, demonstrating the firm’s robust growth trajectory. Casino and Sports Betting Growth The online casino sector was a significant contributor to this success, which achieved an all-time high of €165.1m in revenue. The turnover in this segment also hit a new high, reaching €8.36bn. These figures underscore the remarkable performance of Betsson’s casino offerings amid challenging market conditions. Furthermore, the sports betting arm of the company also…

PlayAGS (NYSE: AGS), a Las Vegas-based slot machine manufacturer, is making impressive strides in the gaming sector. The company’s shares have enjoyed a substantial increase of 30.37% year-to-date, positioning it as a strong contender among small-cap gaming equities. A Promising Forecast David Bain, a respected analyst from B. Riley, recently reiterated a “buy” rating on PlayAGS stock and set an ambitious $14 price target. This projection implies a potential doubling from the current closing price. Furthermore, Bain anticipates another earnings beat from PlayAGS, suggesting a further increase in its market share. PlayAGS has consistently surpassed Wall Street’s EBITDA estimates, having…

New Jersey Welcomes Playtech’s Innovative Live Casino Game Playtech, a renowned name in the gambling software industry, has recently announced its plan to launch its live casino game show format in the United States. The first step of this ambitious expansion plan includes opening a dedicated studio in New Jersey that will host the live games. The debut offering from Playtech will be ‘Adventures Beyond Wonderland’, a game that was developed by Playtech Live and launched over two years ago. This game has already gained significant popularity in several major global markets, including the UK, and is set to be…

A Strategic Partnership to Revamp Gaming Options EGT Digital, a Bulgarian gaming provider, has recently announced a promising collaboration with the Ukrainian betting site, SlotsCity. Under this partnership, EGT Digital is set to supply its 70 diverse slots titles to SlotsCity, providing its users with an enhanced gaming experience. The notable titles include Bell Link, High Cash, Clover Chance, and five games featuring a Single Progressive Jackpot. Moreover, SlotsCity visitors will now have access to the multiplayer xRide, enriching their gaming journey. Tsvetomira Drumeva, Head of Sales at EGT Digital, expressed her enthusiasm about the partnership. “We are flattered that…