Kambi’s PASPA ‘gamble’ key to NJ success

first_img Topics: Sports betting 3rd August 2018 | By contenteditor CEO Kristian Nylen gives the inside story on Kambi’s ‘historic’ launch with DraftKings Subscribe to the iGaming newsletter Tags: Mobile Online Gambling Kambi chief executive Kristian Nylen has said the company’s decision to “take a gamble” on the repeal of the US sports betting ban was the key to its historic mobile launch with DraftKings.Nylen spoke to iGamingBusiness.com after his company’s platform went live in New Jersey on a trial basis on Wednesday evening. Shortly afterwards the first-ever legal digital sports bets in the US outside Nevada were taken. Kambi’s sportsbook partnership with DraftKings was only announced in late June, a month after the repeal of PASPA and the signing of Kambi’s inaugural US deal with Rush Street Interactive, and days after over-the-counter betting began in New Jersey. However, Nylen suggested Kambi and DraftKings have been working for some time on their digital sportsbook plans. “Both Kambi and DraftKings took a gamble relatively early that PASPA would be repealed and set about working on the product in earnest,” Nylen told iGamingBusiness.com.“Wednesday, August 1 will be remembered as an historic day, not just for Kambi but the US sports wagering industry as a whole, with us accepting the first online wager post-PASPA.“With DraftKings now up and running, we look forward to launching more of our customers into New Jersey shortly, before taking our sportsbook into additional states as they open up.”The DraftKings Sportsbook app is for now just available in New Jersey on an invite-only basis and at prescribed times through a transactional waiver from the state regulator. There are reports that 50,000 players are currently allowed.Kambi said it has modified its platform for the US market with US-specific odds presentation, American terminology, the choice of how to present home and away teams and additional handicap lines.Nylen added: “The DraftKings frontend looks noticeably different from most of our other operators’ as they have built a large part of their frontend experience on top our APIs.“We give all our customers the freedom to take control of large parts of the client and, if they wish, take full control over the frontend. So, in general, the platform is providing operators with the flexibility to create unique betting experiences and offer a product which not only suits the players of today, but has the ability to adapt as the market evolves.”DraftKings’ launch, in association with its brick-and-mortar partner Resorts Casino Hotel, led to another flurry of announcements in the following 24 hours.The Stars Group said its BetStars sportsbook will be operating from Resorts Casino after their online poker and casino partnership was expanded to include betting.“We believe The Stars Group is uniquely qualified with the experience and insight needed to make sports betting a success in New Jersey,” said Matt Primeaux, the Stars Group’s US lead.Paddy Power Betfair and its FanDuel brand have forged an agreement with casino company Boyd Gaming, potentially giving it access to 15 states. The pact will cover all states where Boyd Gaming currently holds gaming licences, excluding Nevada.Earlier this week Boyd struck a partnership with MGM Resorts which will see the two share market access in the states in which they have casino properties.  Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US New Jersey Kambi’s PASPA ‘gamble’ key to NJ success Email Addresslast_img read more

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Corcoran joins payments start-up

first_img Subscribe to the iGaming newsletter People Tags: Payments Corcoran joins payments start-up Ex-Betfair CEO led the company’s merger with Paddy Power in 2016 Email Addresscenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 23rd October 2018 | By contenteditor Breon Corcoran, one of the key figures behind the merger that established Paddy Power Betfair, has joined payments start-up WorldRemit as chief executive. Corcoran was the high-profile CEO of Betfair prior to the link-up with Paddy Power in 2016, after which he became chief executive of the combined company. However, in August last year, it was revealed that Corcoran was to step down as CEO, eventually exiting Paddy Power Betfair in January. Peter Jackson, formerly of WorldPay, took on the role. Corcoran will now take on the same role at WorldRemit, which was founded in 2010 and serves as a digital money transfer company that allows customers to send money from 50 countries to around 150 nations worldwide.“Across the world, consumers are turning away from cash, towards digital payments solutions,” Corcoran said. “With tailwinds like the global adoption of new technologies combined with growing remittance flows, there is enormous potential for WorldRemit’s global expansion and I look forward to leading the company through its next evolution.” Founder Ismail Ahmed will become executive chairman of the firm, which plans to reach 10 million customers by 2020. He said: “Breon’s global outlook and experience of enhancing the standard of service in the market will enable us to realise our ambitions to find new ways to help customers do more with their money as the company scales.” Topics: People Strategylast_img read more

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GC targets fairer and safer gambling market in year ahead

first_img Tags: Online Gambling OTB and Betting Shops The UK Gambling Commission has set out its business plan for 2019-20, with a continued focus on protecting consumers, preventing gambling-related harm and raising overall standards in the industry. Topics: Casino & games Legal & compliance Lottery Sports betting Strategy Tech & innovation Bingo 17th April 2019 | By contenteditor Regions: UK & Ireland The Gambling Commission for England, Scotland and Wales has set out its business plan for the 2019-20 year, with a continued focus on protecting consumers, preventing gambling-related harm and raising overall standards in the industry.The plan highlights the projects and milestones that the UK regulatory body aims to reach or meet over the next 12 months as part of its ongoing strategy, which runs from 2018 until 2021.“We put consumers at the heart of our approach, which requires us to strike a balance between the enjoyment people get from gambling and the risks that gambling can present,” Commission chief executive Neil McArthur said.“Managing those risks is not just the responsibility of the individual consumer, and that is why we assess risks by looking at the providers of gambling, the products that are offered and the places in which people gamble.“Our approach allows us to respond to emerging risks and issues, whilst constantly seeking ways to drive up standards.”In terms of protecting consumers, the Commission will publish a number of priority actions, following recent calls for evidence on using credit cards to fund gambling and player protection controls for Category B gaming machines.This is to be expanded further, with an evaluation of current player protection measures for Category C and D machines, as well as an investigation into game design. The Commission may introduce new regulations should it decide current controls are insufficient.There will be efforts to ramp up harm prevention measures, in part through the launch of a new National Strategy to Reduce Gambling Harms, which is due to launch later this month. The impact of the new strategy will be closely monitored once it is implemented.Further work on responsible advertising will also be undertaken, with the Commission to work with the Advertising Standards Authority to identify effective controls to mitigate the impact of gambling advertising on children, young people and vulnerable people.Early next year, the regulator will then launch a review of funding arrangements for problem gambling prevention and treatment initiatives, and publish an action plan designed to ensure funding is adequate to meet public demand.Efforts to raise industry standards will also continue, with a best practice programme for licensees to be promoted through a series of events and publications. Corporate evaluations of operators will then be carried out, to ensure the standards are upheld.Finally, with the tender process for the third National Lottery licence to launch later in 2019, the Commission will look to ramp up industry interest in the process. This will see a series of events on the opportunity presented by the tender take place.In related news, the regulator has also published its income forecasts for fees from licensed operators over the next 12 months.The Commission expects betting to be the dominant force in the market, accounting for  32% total fees, ahead of casinos on 27% and software with 16%. Behind these are machines on 8%, lotteries with 7%, arcades at 6% and bingo with 4%. Subscribe to the iGaming newsletter GC targets fairer and safer gambling market in year ahead Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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Sugar Ray Leonard steps into the ring for ICE North America

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games 23rd April 2019 | By contenteditor Sugar Ray Leonard steps into the ring for ICE North America Clarion Gaming’s inaugural edition of ICE North America will feature a keynote presentation from iconic boxer and Olympic champion Sugar Ray Leonard.The sportsman, the first boxer to win world titles in five different weight classes, will deliver a speech at the exhibition and conference, which takes place in Boston from May 13 to 15.ICE North America event director Rory Credland said he was delighted to confirm Leonard’s attendance: “His professionalism and athletic prowess combined with his charismatic personality and first-hand experience of life in the ring is sure to be a knockout for all our attendees in Boston this May.“For anyone interested in sports, the chance to see someone as legendary as Sugar Ray Leonard is something rather special and testament to ICE North America’s ability to deliver intel direct from the mouths of MVPs,” Credland explained.“His participation at this year’s ICE North America will be one of the many highlights of what is promising to be one of the most influential gatherings of the international gaming business community interested in this exciting North American market.”Leonard competed between 1977 and 1997, and is credited with boosting the popularity of lower weight classes as a result of his wins in five weight divisions. He was named fighter of the decade for the 1980s by US journalists, and became the first fighter to win more than $100m (£76.9m/€88.8m) in prize purses.Since retiring he has moved into philanthropy, establishing the Sugar Ray Leonard Foundation, which funds research for paediatric types 1 and 2 diabetes and helps children lead healthy lives.An accomplished broadcaster, he has worked for the likes of NBC, ABC, Fox, HBO and ESPN, and now serves as part of the DAZN team for streaming of boxing bouts, and provides ringside analysis for Matchroom Boxing.Sugar Ray Leonard’s motivational address will take place on Tuesday 14 May at 12:30pm (EDT) on the show floor at ICE North America. For more information and to register for free, visit icenorthamerica.com Clarion Gaming’s inaugural edition of ICE North America, which takes place in Boston from May 13 to 15, will feature a keynote presentation from iconic boxer and Olympic champion Sugar Ray Leonard. Regions: US Massachusetts Tags: Fantasy Sports Mobile Online Gambling OTB and Betting Shops Race Track and Racino Subscribe to the iGaming newsletter Topics: Casino & games People Sports betting Strategy DFS Horse racing Email Addresslast_img read more

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Online activity pushes Galaxy to record revenue in Q1

first_img Tags: Online Gambling Online activity pushes Galaxy to record revenue in Q1 16th May 2019 | By contenteditor Casino & games Independent table games provider Galaxy Gaming has cited its internet-based operations as one of the main drivers behind a 23% year-on-year increase to record revenue during the first quarter of the year. Independent table games provider Galaxy Gaming has cited its internet-based operations as one of the main drivers behind a 23% year-on-year increase to record revenue during the first quarter of the year.Revenue for the three months through to March 31, 2019 amounted to $5.3m (£4.1m/€4.7m), up from $4.4m in the same period last year. This was the first time Galaxy surpassed $5m in revenue in the first quarter.Galaxy put this increase primarily down to higher revenue from three areas of the business: its internet-based gaming activities, premium games and the Bonus Jackpot System due to additional game placements.The majority of revenue was generated within North America and the Caribbean, with this total up from $3.5m in Q1 of 2018 to $3.8m this year, while there was significant growth in Europe, with revenue jumping from $857,885 to $1.5m.Galaxy also noted an increase in costs and expenses for Q1, with this amount up from $3.4m to $4.6m. This was primarily due to a $955,800 year-on-year rise in selling, general and administrative expenses, with this figure up from $2.6m to $3.5m.The provider said this was a result of higher costs associated with the strategic alternatives review for the quarter, as well as higher compensation and related expense due to higher revenue and continued investment in personnel.Research and development expenses were also up from $193,402 to $299,180, while stock-based compensation costs climbed from $166,478 to $223,604.Although adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) increased 30% year-on-year to $2.0m, higher costs in Q1 hit net income, with this slipping from $536,708 to $460,664.Income before provision for income taxes also fell from $681,577 to $561,678.Todd Cravens, president and CEO of Galaxy, praised the provider’s performance in the three-month period, citing growth across all continuing product segments and “very strong increases” in its progressives and in our igaming business“We hope that this momentum will continue in 2019 as we move forward in seeking licenses to sell in jurisdictions where we have not previously been able to do so,” he said.CFO Harry Hagerty added: “Q1 showed a continuation of recent trends: year-over-year increases in revenue and adjusted EBITDA, an increase in cash and a decrease in debt.“We were very comfortably in compliance with the financial covenants in our bank credit agreement. Our balance sheet will change significantly as a result of the share redemption we completed in May 2019, but we believe the company has several options to help it manage the significant increase in leverage.”center_img Topics: Casino & games Finance Table games Subscribe to the iGaming newsletter Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

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Sportradar renews media deal with Nascar

first_img Regions: US Sportradar renews media deal with Nascar AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Sports betting Sportradar has signed a multi-year extension to its media partnership with North American stock-car racing series Nascar.Under the deal, Sportradar will continue to distribute Nascar’s official live timing and scoring data to its various digital media partners around the world.The agreement will run alongside an integrity services partnership that begin in December, under which Sportradar uses its Integrity Services to monitor both domestic and global betting patterns on Nascar races.“Sportradar has been an excellent partner that has helped us expand the reach of NASCAR’s live data,” Nascar’s senior vice president and chief digital officer, Tim Clark, said.“Real-time data and live leaderboard content are critical for Nascar fans who follow the race across a variety of platforms. Working with Sportradar, we’re confident that our loyal fans have access to the information they crave most.”Steve Byrd, head of global strategic partnerships at Sportradar, added: “We look forward to extending our remit with Nascar and are excited to continue delivering real-time data to Nascar fans.”Confirmation of the Sportradar renewal comes after Nascar in May also secured a deal for sports data solutions provider Genius Sports to develop an official betting product its racing series.center_img Topics: Sports betting 18th June 2019 | By contenteditor Sportradar has signed a multi-year extension to its media partnership with North American stock-car racing series Nascar. Email Addresslast_img read more

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Norwegian ministry backs lottery, bingo AML exemptions

first_img Topics: Casino & games Legal & compliance Lottery Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Norwegian ministry backs lottery, bingo AML exemptions Email Address 21st August 2019 | By contenteditorcenter_img Norway’s Ministry of Finance has given its backing to a proposal from Lotteritilsynet, the national lottery authority, to make lottery and organisers of bingo tournament exempt from new anti-money laundering regulations. Regions: Europe Nordics Norway Bingo Norway’s Ministry of Finance has given its backing to a proposal from Lotteritilsynet, the national lottery authority, to make lottery and organisers of bingo tournament exempt from new anti-money laundering regulations.The proposal, which will undergo a consultation period until October 1, would reduce regulatory burdens on approximately 350 teams, associations and organisations that do not rely on third-party contractors for their bingo or lottery offerings to be exempt from the country’s new money-laundering regulations.As outlined by Norway’s gambling regulator, the Lotteri- og stiftelsestilsynet, when the new rules were introduced last October, they extended the scope of operational restrictions to anyone offering games licensed under the Gambling, Lottery and Totalisator Act.However, in ushering in the new regulations, organisations were invited to apply for exemptions.The Lotteritilsynet delivered a final risk assessment on May 29 to the Ministry of Finance, outlining the perceived low risk of money laundering and terrorist financing via bingo associations and so-called ‘Section 6’, or charitable, lotteries.In confirming the submission of the proposal, Finance Minister Siv Jensen said it is important not to “impose disproportionate burdens”.Jensen added: “I am pleased that with a solid risk assessment from the Lottery Authority, so we can propose how to simplify [the regulations] for teams and associations around the country.”Minister of Culture Skei Grande added that the exemptions would cut red tape in the voluntary sector.last_img read more

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Casinos Austria has Belgian online licences annulled

first_img However this could mean that CAI will be forced to reapply for its A+ and F1+ licences, after making amendments to the URLs through which online casino and sports betting are offered. How it will ultimately proceed will depend on the Belgian Gaming Commission’s interpretation of the various court rulings, legal sources close to the matter said. CAI, which operates the Grand Casino Brussels Visage, was one of a number of operators to have its igaming licences challenged by gaming hall operator Rocoluc in September 2015. “Until there is a new government, I do not expect the matter to be finally resolved.”  4th September 2019 | By contenteditor The decision to grant Casinos Austria International (CAI) online betting and casino licences has been annulled by Belgium’s Council of State, potentially throwing the future of its sub-licensee Betway in the market into doubt. Tags: Mobile Online Gambling This ultimately informed the Council of State, the highest administrative court in the country, as it decided against CAI. It annulled the decision to award CAI the licences, meaning they have not been revoked, so Betway is unlikely to immediately go offline. This, described in court papers as “accumulated access”, was queried by Rocoluc, which argued that offering two different types of gambling via a single outlet was discriminatory. This was based on advice from the Belgian Constitutional Court.In several judgements from that court, it was ruled that the country’s gambling laws do not specifically permit more than one form of online gambling being offered via a single source, which is already prohibited for some bricks and mortar venues. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Further cases against other land-based operators that hold igaming licences are pending, as well as another Constitutional Court case. Subscribe to the iGaming newsletter However Philippe Vlaemminck of Pharumlegal told iGamingBusiness.com that the Council of State’s decision was “confusing”.He pointed out that the Brussels Court of Appeal and the Advocate General of the Supreme Court had both ruled that offering both products under a single URL was perfectly legal.  Casinos Austria has Belgian online licences annulled “The story is far from being resolved,” Vlaemminck added. “The Parliament tried to solve the matter, but the elections made it impossible.  The case centres around the fact that Betway, via its dot.be domain, offers both online casino games, under CAI’s A+ licence, and sports betting, under an F1+ licence.  Email Address The decision to grant Casinos Austria International (CAI) online betting and casino licences has been annulled by Belgium’s Council of State, potentially throwing the future of its sub-licensee Betway in the market into doubt. Regions: Europe Western Europe Belgium Topics: Casino & games Legal & compliance Sports betting Belgian politicians are working to form a ruling coalition, following federal elections held in May this year.Casinos Austria International and Betway have both been contacted for comment on the matter.last_img read more

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Second bill in NZ racing reform process filed in parliament

first_img New Zealand’s Minister for Racing, Winston Peters, has introduced the Racing Industry Bill, a piece of racing reform legislation that has already received support from the Racing Industry Transition Agency (RITA). AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Tags: Race Track and Racino Regions: Oceania New Zealand Email Address Second bill in NZ racing reform process filed in parliament Topics: Sports betting Horse racing 10th December 2019 | By Daniel O’Boyle Horse racing New Zealand’s Minister for Racing, Winston Peters, has introduced the Racing Industry Bill, the second element in a two part legislative process to overhaul the governance structures of New Zealand horse racing.RITA chair Dean McKenzie – who will take on the role of executive director of the agency once current chief executive John Allen steps down at the end of 2019 – said the bill will help ensure the sustainability of the racing industry.“The revitalisation of the New Zealand racing industry is well underway thanks to the commitment and support of the Government,”  McKenzie said. “The nature of changes proposed are considered so substantive that a new Racing Act is recommended in the Bill.“The new Bill is the culmination of the most significant reform of racing since 2003 and follows the Racing Reform Act which came into force on July 1 and included the gradual repeal of the betting levy and enabling regulations for a Point of Consumption Charge and Betting Information Use Charges.”McKenzie added that the racing industry was an important part of New Zealand’s culture and economy.“The racing industry in New Zealand contributes $1.6 billion to the economy, it provides a livelihood for 14,000 industry participants, and is an important part of our heritage,” McKenzie said. “The Government’s support of racing will help lead to increased employment, improved exports and a general increase in the industry’s already significant contribution to New Zealand.“RITA looks forward to contributing to the Select Committee process and enabling legislation that reforms the racing industry so that it is revitalised, healthy and financially viable once again.”The Bill, released on 5 December, establishes the TAB NZ – the body that will ultimately replace RITA – as the only betting provider for racing and sports in New Zealand.“TAB NZ will be able to focus on maximising profits for the benefit of the New Zealand racing industry whilst having a strong regard for gambling harm minimisation,” the New Zealand department of internal affairs said of the bill.TAB NZ may be able to introduce new betting products, but only after passing an approval mechanism conducted by an independent body.The bill also established the Racing Integrity Board to take charge of all integrity issues and allows the thoroughbred, harness and greyhound racing industries to each be governed separately by their own bodies.The Racing Industry Bill forms the second part of the reform package that started with the Racing Reform Act, which came into effect on 1 July. The reform act sets out a range of new taxes, including new point of consumption and race field fees, as well as allowing for the creation of RITA, which replaced the New Zealand Racing Board (NZRB).last_img read more

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14 May: Where’s the action?

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.Badminton Armenia’s Infinity Cup once again kicks off the round-up.Baseball The competitions in action over the coming 24 hours remain unchanged, with China’s Professional Baseball League, its reserves and South Korea’s Baseball Championship all in action.Basketball Cameroon’s Championnat National and Chinese Taipei’s Super Basketball League are joined in the schedule by Nicaragua’s Torneo Carlos Ulloa.Darts The Czech Premier League returns to the fixture list, alongside the Icons of Darts Live League and PDC Home Tour.Football The Turkmenistan Premier League continues, while Belarus’ Reserve League and club friendlies also take place.Golf South Korea’s KLPGA Championship begins its second round, and the Scottsdale AZ Open moves into its third.Greyhounds In Australia, racing takes place at 16 tracks, alongside two in New Zealand.Horse Racing Australia, as usual, makes up the majority of the fixture list, with racing at 18 tracks. Five French racetracks hold events today, alongside two in Japan, Bergen in Norway, three Swedish tracks and four in the US.Ice Hockey With no action in Russia’s Liga Pro, only the Comet Division is playing, and only in the short form version of the sport.Table Tennis Armenia’s ITT Cup League; Brazil’s Exhibition Autumn League; China’s Liga Pro; the Czech Republic’s TT Star Series; Russia’s Liga Pro; and Ukraine’s Setka Cup, TT Cup and Win Cup are all in action.Tennis The next 24 hours sees action in Belarus, Germany, Russia and the US. Volleyball Today’s round-up ends on Russia’s volleyball Liga Pro.This list is not intended to be exhaustive, and all events are subject to change.Abelson Info was set up by Ed Abelson in 2003 to supply the bookmaking industry with the crucial sports data it required as the online betting industry began to boom. Starting with just a handful of employees and even fewer clients, the business has since grown and evolved to accommodate the ever-changing requirements of the industry.We now supply data and technical services to the majority of the top tier bookmakers and platform providers in the UK, along with many of the biggest media corporations and development firms across the world. We have a stellar reputation for delivering top quality data and are always on hand to support customers, 24 hours a day, 365 days a year. 14 May: Where’s the action? 14th May 2020 | By contenteditor Email Address iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.center_img Tags: Mobile Online Gambling Subscribe to the iGaming newsletter Sports betting Topics: Sports bettinglast_img read more

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