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AGEM Index sees 4.2% decrease in October with Agilysys as the largest positive contributor | Yogonet International

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The Association of Gaming Equipment Manufacturers (AGEM) has announced the latest results for its Index, encompassing the month of October, which show a decrease of 44.35 points to 1011.35 points, or by 4.2%, as compared to the prior month. Compared to one year ago, the index was up 164.71 points, or 19.5%.

The AGEM Index is a monthly stock performance guide comprising 12 global gaming suppliers. During September, 8 of the 12 AGEM Index companies reported stock price decreases, which resulted in 8 negative contributions and 4 positive contributions to the AGEM Index.

The largest negative contribution was sourced to Aristocrat, whose 5.7% decrease in stock price led to a 28.68-point loss to the index. Meanwhile, International Game Technology saw its stock price fall by 16.2%, leading to a 20.94-point loss for the index. The largest positive contribution to the index was sourced to Agilysys, whose 29.7% increase in stock price resulted in a 16.44-point gain for the index.

The three major U.S. stock indices declined in October 2023. The NASDAQ declined by 2.8% over the month, while the S&P 500 fell by 2.2%. Meanwhile, the Dow Jones Industrial Average decreased by 1.4% from the prior month.

AGEM represents manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry. The association began compiling data for the index in January 2005, using a base of 100 points. The stocks that constitute the AGEM Index are weighted by approximate market capitalization.

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December 31, 1969
Nebraska: WarHorse Gaming rolls out sports betting in Omaha | Yogonet International
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WarHorse Gaming opened its new sportsbook on Wednesday at Horsemen’s Park, 63rd and Q Streets, thereby introducing legal sports betting to the city of Omaha, Nebraska. Betting will take place in a temporary building on the racetrack infield until the casino opens next fall.

The launch of the sportsbook will allow people in Omaha to wager on games in a more convenient in-state location. Until now, the closest state-sanctioned sportsbook was at WarHorse Casino in Lincoln, 50 minutes away from the Omaha Wahorse location.

Customers can place a wager at one of 10 electronic kiosks or at the WarHorse Sportsbook window inside the temporary building. The Winnebago Tribe owns the WarHorse brand, and officials say the casino and sports betting will help build housing and provide jobs to members of the tribe.

“We think it’s going to be exciting, especially for people who have to go to Iowa right now, to be able to do it right here in Omaha,” said Lance Morgan, Chief Executive Officer of Ho-Chunk Inc., the parent company of WarHorse and the economic development arm of the Winnebago Tribe of Nebraska, as per Omaha.com.
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Lance Morgan, Chief Executive Officer of Ho-Chunk Inc
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Morgan says that the launch of sports betting is just a “tiny first step” toward future plans on the Omaha site. Warhose aims to construct 85% of the casino in about 10-11 months. “What we’re building in the permanent facility is going to be incredible. It’s something, I think, people can take great pride in,” he said.

The casino, racing and entertainment complex will imply an investment of about $250 million and calls for the renovation of the existing Horsemen’s Park complex and adding nearly 67,000 square feet in new construction and expansion.

The current temporary facility offers various sports activities to bet on. 6 News quoted Morgan as saying: “You can bet on cricket, tennis, rugby, international soccer, we’ll have it here. And if we don’t, you can access it through our partner, because our partner is from England. If there’s a demand for something, we have to get it authorized by the state, but I don’t think that will be a problem.”

However, people in the state will not be able to bet remotely and will be required to place the wagers in person at WarHorse Casino, as online gaming has not been legalized. Bets on home games involving Nebraska pro and collegiate teams are also illegal.
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December 31, 1969
Golden Entertainment’s revenue reaches $257.7M in Q3; The Strat renovations expected to drive future growth | Yogonet International
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Golden Entertainment, the operator of Las Vegas’ The Strat Hotel, reported its financial results for the third quarter ended September 30, 2023. Although revenue for the three-month period was down, the company reported improved performance in its Nevada Casino Resorts segment, driven by increased occupancy and its recent completion of room and pool renovations at The Strat.

The Las Vegas-based gaming and hospitality firm reported a total revenue of $257.7 million and a net income of $241.2 million for the third quarter. The overall revenue experienced a decline of approximately 7.6% compared to the previous year.

It also reported an Adjusted EBITDA of $53.2 million in Q3 of 2023, compared to $61.1 million in the third quarter of 2022. Declines in revenues and Adjusted EBITDA were primarily due to the exclusion of full-quarter results for the Rocky Gap Casino Resort and the Montana distributed gaming business that were sold during the third quarter.

Specifically at The Strat, revenue was up by 8% with completed room renovations and a new neighbor down the street, the Fontainebleau, which the company expects to bring more foot traffic to its flagship resort. The completion of most of the room renovations is fueling high expectations, along with the January debut of the $70 million Atomic Golf attraction.

“We feel that the property is now well-positioned to capitalize on the high-traffic events like F1 and Super Bowl coming to Vegas over the coming quarters and beyond,” said Charles Protell, President and Chief Financial Officer of Golden Entertainment.

During an earnings call with investors, Blake Sartini, Chairman and Chief Executive Officer of Golden Entertainment, said the company’s Nevada Locals Casinos segment maintained a strong performance. Meanwhile, tavern revenue was “flat” during the summer months, when business is typically slower. However, Golden reports that the last eight taverns it has opened are generating a return on investment of 25%.

The company expects to complete the purchase of four more taverns by the end of the year, and two more early next year. It’s also exploring sites for future tavern development.
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Blake Sartini
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In September, the firm completed the sale of its Montana-distributed gaming business to J&J Ventures Gaming for an aggregate cash consideration of approximately $109 million and is “on track” to complete the sale of its Nevada-distributed gaming business at the end of the year.

“The completion of these transactions significantly strengthens our balance sheet, enables the return of capital to shareholders, and provides financial flexibility to enhance shareholder value,” Sartini explained.

As of September 30, the company’s total principal amount of debt outstanding was $738.7 million, consisting primarily of $399 million in outstanding term loan borrowings and $335.5 million of senior unsecured notes.

As of that same date, the company also had cash and cash equivalents of $295.9 million. There continue to be no outstanding borrowings under the company’s $240 million revolving credit facility.

In addition to The Start, Golden Entertainment owns two more Las Vegas casinos, Arizona Charlie’s Decatur and Arizona Charlie’s Boulder. Golden also owns Laughlin properties Aquarius Casino and Resort and Edgewater Casino and Resort, along with three casinos in Pahrump: Pahrump Nugget, Gold Town Casino, and Lakeside Casino and RV Park.
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December 31, 1969
BetMGM launches retail sportsbook at Isleta Resort and Casino in New Mexico | Yogonet International
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Sports betting and iGaming operator BetMGM has announced the opening of a new retail sportsbook at Isleta Resort & Casino in Albuquerque. This partnership marks the launch of BetMGM’s sports betting operations in New Mexico, its 28th market.

The BetMGM Sportsbook at Isleta is 4,900 square feet and features 35 television screens, along with two VIP sections. The sportsbook also includes five betting windows and four betting kiosks.

“This is an exciting moment for both Isleta Resort & Casino and those who enjoy the fun and excitement of sports betting. We believe we are ‘Where the fun begins’ when it comes to New Mexico Gaming,” said Adrianna Jiron, Chief Operations Officer, Isleta Resort & Casino.

Adam Greenblatt, Chief Executive Officer of BetMGM, said: “It’s a privilege to enter New Mexico and collaborate with Isleta Resort & Casino. We’re confident sports fans will enjoy the world-class gameday experience that only BetMGM provides.”
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Adam Greenblatt, Chief Executive Officer, of BetMGM
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Karl Waitner, Chief Executive Officer, of Isleta Resort & Casino, added: “Isleta Resort & Casino’s goal is to constantly improve the consumer experience. Our new partnership with BetMGM makes unforgettable moments in sports even more personal, powerful, and fun.”

The launch follows BetMGM’s announcement of new partnerships in the past week. The operator has expanded its existing partnership with Sportradar for NBA optical tracking data to provide its customers with live markets and odds. Additionally, the brand has also extended its sports betting partnership with the NBA’s Philadelphia 76ers.
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December 31, 1969
Sportradar posts revenue up by 12% to $212M in Q3, but profit drops to $4.8M | Yogonet International

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Sports technology provider Sportradar has revealed the financial results for the quarter ending on September 2023. In its report, the Switzerland-based tech group noted that the revenue in Q3 increased by 12% to €201.0 million ($212.1 million) when compared to the same period last year, driven by growth across all segments.

Despite the revenue increase, total profit from continuing operations decreased by 63.8% to €4.6 million ($4.8 million), down from €12.8 million ($13.5 million) in the same quarter last year. The company’s Adjusted EBITDA increased 38% to €50.5 million ($53.3 million) compared with the third quarter of 2022, primarily due to strong revenue growth and higher operating leverage.

Year-to-date, group revenue reached €625 million ($658 million) in the first nine months of the year, up 16% from the same-period 2022 figure of €529.9 million ($557 million), with adjusted EBITDA up 28% to €127.3 million ($133.8 million).

Carsten Koerl, Chief Executive Officer of Sportradar, said: “As the leader in our industry, we aim to consistently deliver value to our clients, partners and shareholders. For 2023 we remain on track to deliver a strong growth year and are well-positioned to maintain that momentum into 2024.”

Along with the Q3 results, the company announced a reduction in its global workforce as part of “a broader set of strategic initiatives” that the company hopes will enable it to strengthen its organization and focus on market opportunities ahead of it.

Sportradar records growth in all segments

The company recorded growth across its business and core geographic sectors during Q3, including Rest of World (RoW) Betting, RoW Audiovisual (AV), and the US.

The RoW Betting segment revenue increased by 11% from €100 million ($105 million) to €112.2 million ($118.2 million) and EBITDA grew by 16% from €48.2 million ($50.8 million) to €56.1 million ($59.1 million). As per Sportradar, the increase in sales was mainly due to its live odds and live data products, which grew 18% year-on-year.

RoW AV revenue was €38 million ($40 million) at the close of Q3, a 15% increase from corresponding 2022 income of €33.1 million ($34.9 million), and EBITDA for the segment increased 5% to €13.3 million ($14 million), which the company said was driven by a new deal with South American football body CONMEBOL and increased sales to both its new and existing customers.

Sportradar’s US revenue amounted to €33 million ($34.8 million), up 11% Y-O-Y. The EBITDA for the segment went up 58% from €3.5 million ($3.7 million) to €8.2 million ($8.6 million), which as per Sportradar was attributed to the growth for its betting and gaming and audiovisual products in the country.

Q3 partnerships and highlights

During the quarter, Sportradar expanded its BetMGM partnership to include official NBA data. The company will, for the first time, provide the operator with products and services that leverage NBA optical tracking data as a result of its exclusive agreement with the NBA. This will enable BetMGM to grow its prop markets, same-game parlays, as well as the in-play betting market.

The company’s recent highlights also include Sportradar announcing a four-year extension with NASCAR of the company’s long-term media rights partnership with the league, which now includes official betting data. This agreement will include live timing and scoring data and expanded betting content.

Sportradar has also been selected by the Taiwan Sports Lottery Company to power its Sports Lottery with a customized omnichannel sportsbook and player management solution.

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December 31, 1969
Quixant announces exclusive manufacturing partnership with Elas for the EMEA market | Yogonet International

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Quixant, a provider of outsourced hardware solutions to the global gaming and sports betting market, has announced a partnership with Elas for the exclusive manufacturing of Quixant’s Quantum and Qinetic cabinet, kiosk and betting terminal solutions for the EMEA market.

Known for its ability to identify market-specific products and deliver outsourced solutions, Quixant continues its product evolution with the launch of its fully integrated gaming cabinet, sports betting kiosk, and terminal range. These solutions enable customers “to outsource with confidence, leveraging the unrivaled benefits of its embedded hardware platforms, and extensive sector-specific expertise.”

Having already deployed the Quantum and Qinetic range in the US market, Quixant sought to establish a partnership within the EMEA region to meet the increasing demand. Elas, a Bosnia-based company, was chosen as a partner for its long-standing reputation as a subcontractor in the EMEA slot and betting terminal market, says Quixant.

Leo Bateman, VP of Business Development – EMEA at Quixant, commented: “We are extremely pleased to finalize the partnership with Elas. Our integrated cabinet and kiosk roadmap is a fundamental part of Quixant’s future technology strategy, and a major objective for us was identifying and selecting a manufacturing partner who shared our engrained ethos of quality, reliability, and sustainability so we can provide an enhanced product and service offering to our EMEA customers.”

Bateman noted Quixant is “truly confident” that this partnership with Elas will enable the company to deliver more of the solutions to the market that “not only match but exceed expectations,” both in the quality of the products and the delivery and service.

The executive added: “Our range of game-changing cabinet, sports betting terminal, and kiosk solutions have been providing customers in the US with fully populated, easy-to-integrate, and ready-to-deploy solutions that expedite the time it takes them to get their products to market.”

“This new partnership – tailored to the needs of the EMEA market – means that we can further expedite that process for customers in the EMEA region, while offering further operational efficiencies.”

Bojan Knezevic, Elas’ R&D Manager, added: “We have been designing best-in-class gaming machines for almost thirty years, with both off-the-shelf and fully bespoke offerings, to an extensive variety of high-tier suppliers to the global gaming industry. As a respected leading supplier of hardware platforms to the market moving to the next exciting and innovative offering, we are delighted to join forces with Quixant in this new venture to better enable the EMEA gaming and sports betting market.”

Knezevic concluded: “It is great to see the partnership move forward, with the first product prototypes to enter the market imminently, where the recipients of these products will soon be able to realize the benefits of this collaboration.”

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December 31, 1969
Brazil’s Ministry of Finance publishes ordinance with conditions that gambling companies must fulfill | Yogonet International
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The Ministry of Finance issued the Normative Ordinance MF No. 1,330/2023, which will establish the conditions for the commercial operation of the so-called fixed odds lotteries, as well as the general rules on the rights and obligations of the bettor, the prevention of money laundering and other crimes.

Published on October 27, the ordinance indicates that those interested in applying for a license must submit a prior expression of interest within 30 days. The document establishes rules on responsible gaming, and advertising and the requirement that the company be established in Brazil. In addition, foreign firms must open a subsidiary in the country.

The text is based on the measures established in Law 13,756/2018 with the changes promoted by Provisional Measure 1,182, published on July 24, 2023, and not yet approved by Congress.

Another of the points mentioned in the ordinance of the ministry led by Fernando Haddad is that partners or shareholders may not have convictions for administrative impropriety or tax evasion. In addition, the interested company must, among other things, prove the lawful origin of the funds that make up its capital stock, in addition to having a Portuguese-speaking customer service center based in Brazil.
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Fernando Haddad, Minister of Finance
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The publication also stipulates that companies must implement a policy to prevent manipulation of results and money laundering. The Treasury will periodically publish a list of all sites authorized to operate.

The Government also mandates that only those over 18 years of age may access the sites and that companies must promote campaigns to prevent compulsive and pathological gambling.

In addition, it is prohibited for betting companies to: accept payment instruments that offer a post-payment account to the bettor; accept cash; issue proposal receipts; and accept deposits from third parties in the bettor’s account.
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December 31, 1969
Brazil: BiS SiGMA Americas 2024 sells more than 50% of its spaces and will increase its capacity by almost 25% | Yogonet International

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The 2024 edition of BiS SiGMA Américas will once again take place at the Transamérica Expo Center in São Paulo, from April 23 to 26, 2024. The organizers have announced that “this time it will have a larger saleable area”, about 25% more compared to the last edition. In total, it would be an area of 16,000m² occupying three pavilions.

“We saw the opportunity to increase the saleable area and we did it. The event has grown and should expand even more, it is an opportunity to exchange information, do business, and for brands to show their products to those who are directly interested,” said Alessandro Valente, Co-founder and Director of the event.

The organizers noted that the growth is a direct result of the success of the 2023 edition, as ” the trade show has become one of the most important in the world” for the iGaming, BetTech, and Sports Betting ecosystem segment at an international level.

In this regard, they pointed out that, with almost six months to go until the event, more than 50% of the spaces have already been sold.

This year’s edition had more than 6,700 visitors, of which around 40% came from more than 40 foreign countries, approximately 250 exhibiting and sponsoring companies, and more than 130 speakers presented, representing a total of 60 hours of content in two simultaneous auditoriums.

Now, the format of the event was improved to include 2024 a larger exhibition area, content in two simultaneous auditoriums, and live webcasting during the days of the event.

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December 31, 1969
Cherokee Nation casino license nullification upheld by Arkansas Supreme Court | Yogonet International

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The Arkansas Supreme Court upheld a judge’s decision to nullify the casino license granted to the Cherokee Nation by a panel, initiating a new round of applications for the last of four casinos approved by state voters.

In a 5-2 ruling, justices affirmed a Pulaski County judge’s decision to invalidate the 2021 license awarded to Cherokee Nation Businesses and Legends Resort and Casino, a company established by the Cherokee Nation, for the construction of a gambling property in Pope County, Associated Press reported.

Pope County was designated as one of four casino locations permitted under a 2018 constitutional amendment. While casinos have been established in the other three sites, legal disputes have delayed the issuance of the Pope County license.

The justices determined that the 2018 amendment did not grant the commission the authority to jointly issue a license to Legends and Cherokee Nation Businesses. “Nowhere in the text does it allow for joint or dual licensing to more than one applicant,” the court ruled, as per the report. The state is currently reviewing the ruling and preparing for a new round of applications.

“(The Department of Finance and Administration) will be working with the Arkansas Racing Commission to open a new application window in a timely manner,” Trent Minner, administrator of DFA’s Regulatory Division, which includes the Arkansas Racing Commission, said in a statement.

“We will work with the commission to ensure all legal requirements of Amendment 100 are fulfilled and that the process is carried out in compliance with Arkansas law.”

Cherokee Nation Businesses, which had acquired more than 325 acres for the casino project, expressed disappointment with the decision but reiterated its commitment to becoming the casino operator.

“We are fully committed to moving forward and working with local and state officials as we have been for the past five years to build Legends Resort & Casino and bring the much-needed economic growth the community and state deserve,” Chuck Garrett, CEO of Cherokee Nation Businesses, said in a statement, as per the report.

Mississippi-based Gulfside Casino Partnership, a competing applicant, initiated the lawsuit challenging the license. In 2020, Gulfside had received a license for the casino, which was subsequently revoked by the state Supreme Court, citing the requirement for endorsement from current elected officials in the area. The Gulfside application had been supported by Pope County’s former judge.

“Just as the Racing Commission selected our superior application in 2020 in a head-to-head with Legends, we look forward to demonstrating again to county leaders and residents how our proposed world-class resort will benefit them and the entire state,” Casey Castleberry, attorney for Gulfside Casino Partnership, said in a statement, as per the AP report.

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December 31, 1969
MGM Resorts announces Bellagio Fountain Club activations for F1 Las Vegas Grand Prix | Yogonet International

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MGM Resorts is set to launch the Bellagio Fountain Club during the upcoming Formula 1 Las Vegas Grand Prix. The club, from November 16 to 18, will host entertainers and provide opportunities for fans to engage with race drivers for post-race commentary, according to new details unveiled by the operator.

A key feature will be the post-race interviews with the top three drivers, offering fans insights into their success at the inaugural Formula 1 Heineken Silver Las Vegas Grand Prix on Saturday night.

Andrew Lanzino, Vice President of Citywide Events Strategy, stated: “We’re curating an experience at the Bellagio Fountain Club that offers guests the best of F1 – from race views to cuisine and an astonishing live Dolby Vision experience on LG OLED TVs, to getting up close with the winners post-race. We’re incredibly honored to host the Las Vegas Grand Prix’s Winner’s Stage for what we believe will be one of the weekend’s most iconic moments.”

Race against time as the @F1LasVegas Grand Prix countdown begins. #F1 #LasVegasGP pic.twitter.com/Jn0G3kO5yN

— Bellagio Las Vegas (@Bellagio) October 19, 2023

The Bellagio Fountain Club’s culinary lineup includes José Andrés, Christina Tosi, Alain Ducasse, and Rainer Becker, alongside other renowned chefs. They will rotate throughout the event, introducing new menus daily. A team of mixologists and sommeliers will curate an open bar serving cocktails and wines.

The Bellagio Fountain Club will also offer a premium viewing experience. Dolby and LG Electronics will provide a live race feed in Dolby Vision on LG OLED evo TVs. Eighty LG OLED evo TVs will power the activation.

The Bellagio Fountain Club’s strategic location offers a view of the racetrack from Bellagio’s signature lake. From the rooftop hospitality deck, guests will witness Bellagio’s iconic Fountains alongside F1 cars racing up Las Vegas Boulevard.

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December 31, 1969
SBC Events collaborates with +More Media to present The Earnings+More: Capital Markets Forum | Yogonet International

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SBC Events has announced a collaboration with media production and content company +More Media to present The Earnings+More: Capital Markets Forum as part of SBC Summit North America 2024.

Taking place on the pre-event day on May 7, 2024, the forum will bring together 500 senior executives from the gaming industry and investment world to discuss a range of topics affecting the North American betting and gaming sector.

Through a series of conference sessions, several discussions will take place on a variety of topics including the industry’s trajectory, the position of market leaders, competition from challenger brands, M&A opportunities, and supplier evaluations.

Aidan Brain, VP of Conference Production (Americas) at SBC, said: “M&A activity is experiencing a remarkable upswing within the industry, especially in the US. This underscores the need to set aside time for deliberations on how the global economic situation and the intricate regulatory environment influence the industry’s overarching landscape.

“Furthermore, the discourse surrounding emerging markets and strategic investments is highly relevant. We’re thrilled to collaborate with AndMore Media to make these conversations possible.”

The forum is set to act as a utility for C-suite executives focusing on M&A activities, advisers from banking and gaming backgrounds, banking professionals, and investors to come together and discuss the state of play.

+MoreMedia publishes a series of industry newsletters including Earnings+More, which serves as a hub for news, views, and insights for the gaming sector. The newsletter covers M&A trends, as well as emerging markets and releases from regulated jurisdictions.

Scott Longley, Managing Director of +More Media, commented on the partnership: “We are truly excited to combine our subject matter proficiency with SBC’s expansive industry network to deliver high-level content and focused dialogues on where investments should be directed and where industry restraint is warranted.

“SBC has a strong track record of orchestrating outstanding events, granting access to industry leaders, and we possess the knowledge essential for driving these discussions.”

Scheduled for May 7-9, 2024, the 2024 SBC Summit North America will be held at the Meadowlands Exposition Center in New Jersey. The event is expected to host 5,000 delegates, feature over 75 exhibitors, and bring together 300 speakers to share their expertise on the expanding online betting and gaming industry in the United States and Canada.

The Earnings+More: Capital Markets Forum is set to be a key component of the pre-day conference, featuring the Player Protection Symposium among other additional elements.

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December 31, 1969
Resorts World Las Vegas is now 100% powered by renewable energy | Yogonet International
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Las Vegas Strip’s Resorts World announced that the property has reached its sustainability goals, now powered by 100% renewable energy sources. Resorts World, in a news release, stated that the property is “now one of the few Las Vegas Strip resorts to achieve this incredible feat.”

“We are thrilled to have reached such an incredible milestone in our sustainability efforts after only two years of operation,” said Peter LaVoie, President of Resorts World Las Vegas. “The partnership with NV Energy has been integral in our efforts thus far and we look forward to continuing our commitment to our community and environment as we work to further implement impactful changes across the resort.”

The property is LEED Gold Certified, which according to Resorts World positions it among the “best energy-efficient facilities on the globe.” Apart from being powered by completely renewable energy, Resorts World also uses a “patented indoor air monitoring system to continuously optimize ventilation rates to improve indoor air quality and reduce energy usage.”
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Resorts World, Las Vegas
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At the time of construction, more than 80% of waste and debris was diverted from landfills. Since then, they have reduced their energy use and water consumption by more than 30%, compared to industry standards, and have, what casino officials call, “the largest amount of electric vehicle chargers on the Strip.”

“This project is emblematic of our commitment to meeting our customers’ unique energy needs and identifying an innovative path forward to meet those needs,” said Doug Cannon, NV Energy President and CEO.

Additionally, the resort has a food donation and waste production program, which involves workers separating food waste before it is sent to local farms to be converted into animal feed.
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December 31, 1969
BGC hosts parlamentarians to share insights into the UK’s regulated betting and gaming industry | Yogonet International
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Members of Parliament from various political affiliations gained a deeper understanding of the regulated betting and gaming industry, and its contributions to employment, economic growth, and local communities, at informative sessions held by the Betting and Gaming Council during the conference season.

During the Conservative Party Conference, the BGC hosted Stuart Andrew MP, the DCMS Minister responsible for Gambling, at Metropolitan Gaming’s Manchester235 Casino, where he had the opportunity to meet staff.

At the Labour Party Conference, the BGC welcomed newly appointed Shadow Minister for Gambling Stephanie Peacock MP at Rank’s Grosvenor Casino in Liverpool, to hear more about the casino sector.

Meanwhile, the BGC also attended the Liberal Democrat Party Conference to take part in a series of roundtables on support for SMEs, the importance of the high street, and combatting fraud.

The Minister and Shadow Minister also had the opportunity to meet other members of the BGC representing retail bookmakers on high streets and the online sector to learn more about the industry, which the council notes supports 110,000 jobs nationwide.
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Michael Dugher
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Michael Dugher, BGC CEO, said: “It was fantastic to host Stuart Andrew MP and Stephanie Peacock MP during conference season, where we were able to once again showcase the terrific contribution our members are making across the nation.”

“There is a danger that the voice of people who work in the industry, as well as the millions of ordinary punters, can get lost. So, it was great to see ministers, shadow ministers, and other parliamentarians engaging with the BGC at the party conferences ahead of a general election in the next year,” he added.

The conference events took place at casinos, which the BGC described as “timely” given that these establishments are awaiting the “mission-critical modernization proposals” outlined in April’s White Paper, including allowing sports betting at venues and changes to the rules governing the number of gaming machines casinos can offer.

The council notes casinos play a vital pillar in the tourism and hospitality sector, employing more than 10,000 people and catering to over 16 million customer visits every year. They contribute £300 million ($316.1 million) annually in taxes and an estimated £800 million ($843.1 million) a year Gross Value Added to the economy, as per BGC data.

However, some have struggled to rebound from the pandemic and the current tough economic headwinds, which have seen closures and job losses. In 2005 there were 160 casinos in the UK while now there are 118, including three casinos that have closed in recent months.

Each month, around 22.5 million adults bet in Great Britain on sports, and online as well as in bookmakers, bingo, and casinos. Across the industry, including the online sector and bookmakers on high streets, regulated betting and gaming supports 110,000 jobs, raises £4.2 billion ($5.08 billion) in taxes, and contributes £7.1 billion ($8.6 million) to the economy, BGC data reveals.

“The debate around betting and gaming is often noisy, ill-informed, and misleading. So it is vital the BGC and our members engage with MPs so they can see for themselves what our operators offer and the lengths they go to ensuring betting continues to be a safe and entertaining hobby for the many millions who enjoy it responsibly,” Dugher added.
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December 31, 1969
PayBrokers takes its payment solutions to the Money 20/20 global conference | Yogonet International

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Between October 22 and 25, Money 20/20, the global fintech conference, took place in Las Vegas. Among the main players in the financial ecosystem is PayBrokers, which participated in the event with its payment solutions.

CEO Edson Lenzi and foreign exchange specialist Carolina Nigro attended in representation of the Brazilian company. “Our presence demonstrates PayBrokers’ commitment to stay updated and competitive on the international scene, something fundamental in a sector as dynamic and innovative as fintechs,” Nigro said.

During the days of the conference, PayBrokers participated in talks, panels, and workshops on topics relevant to the payments market. In addition, the company took advantage of the exhibition to present its products and solutions to the U.S. market.

“Foreign exchange is an instrument of global financial inclusion, and we simplify this process. That is what we are looking for at Money2020: new technologies and strategic partnerships,” the company highlighted during the event in Las Vegas.

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December 31, 1969
OKTO acquires Flexia Payments to expand its cashless, omnichannel payments solutions in North America | Yogonet International

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Payments solutions provider OKTO has announced the acquisition of Flexia Payments, a specialty fintech US company. OKTO says that the strategic move is set to accelerate its expansion into the North American gaming markets, and further its cashless and omnichannel payments offering.

The deal followed a successful show of Flexia at the Global Gaming Expo (G2E), where the company showcased its cashless system, which is integrated with an expanding suite of partners including WinSystems, Axes Information Management Systems, and CasinoTrac.

“With the completion of this acquisition, the Flexia team joins forces with OKTO, to jointly keep driving cashless and omnichannel payment solutions to North American casinos and gaming venues, enabling them to usher full digitalization of customer experience across gaming and non-gaming activities,” OKTO said in a statement.

In addition, Flexia explained that it is well-positioned to combine casino and online wagering accounts, and casino loyalty programs, all connected to a Flexia Prepaid Mastercard – into a single digital payment solution.

“This acquisition aims to place OKTO at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering,” commented Theo Engelis, VP North America of OKTO. “We’re excited about this partnership, which marks a significant enhancement for both companies and aligns with our ongoing cashless strategy in Europe and Latin America.”

Craig Libson, CEO and co-founder of Flexia, shared: “Our partnership with OKTO grants us access to significant resources and capabilities, accelerating the deployment of advanced cashless and omnichannel payment services to the ever-expanding gaming market.

“The synergies between the two companies, our industry’s best platform and pipeline, blended with OKTO’s powerful payment technology and existing business line combine to form the foundation for success in the North American market and beyond.”

“Our alignment with OKTO enables us to complete our mission to drive digital payment innovation in the world of online and land-based casino gaming, and in particular allows us to put our plans into action in North America,” Scott Walker, President and co-founder of Flexia, added.

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December 31, 1969
Flutter to sponsor horse racing documentary series to air on ITV1 in 2024 | Yogonet International
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Flutter UK & Ireland has announced a partnership with ITV and other industry partners for a six-part documentary on British horse racing to be shown on ITV1 and ITVX in 2024.

The documentary will focus on the 2023-24 Jumps season and will show behind-the-scenes and life stories of the sport. The project, which will also focus on the welfare of horses and jockeys, seeks to raise the profile of horse racing to a wider audience and will see production start in December.

The documentary will be produced by South Shore, a production company supported by ITV. Flutter and the Racecourse Media Group (RMG) are endorsing the project, with additional support from bodies such as the Professional Jockeys’ Association and the British Horseracing Authority (BHA).

Flutter’s involvement is part of the “Do More” pillar of its Positive Impact Plan. According to the company, the goal is to impact the lives of 10 million people by 2030.

Filming will begin in December and the series is expected to premiere in late summer 2024. South Shore is responsible for productions such as “Freddie Flintoff’s Field of Dreams” (BBC1) and “Football Dreams: The Academy” (C4).
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Ian Brown
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Ian Brown, CEO at Flutter UKI, said: “We are delighted to announce the forthcoming horse racing documentary series in conjunction with ITV and RMG. This is an idea we’ve promoted for some time and we are hugely excited to be bringing the inner story of horse racing, and all the wonderful people who support it to a new and broader audience through a prime time slot on ITV1.

“In line with a key pillar of our Positive Impact Plan, this is also another great example of Flutter supporting the communities we operate within to ‘Do More’. We have long supported the horse racing industry – investing over £140m into UK racing in 2022 alone – and are committed to working together with all racing stakeholders to support and modernize this unique and enthralling sport through initiatives like this brilliant new series,” he added.

Simon Daglish, Deputy Managing Director, Commercial at ITV, stated: “Racing drives an enormous amount of passion and excitement among ITV viewers as we know from our unrivaled coverage. This new series is a fantastic chance to build on that excitement and bring this adrenaline-filled sport to a new audience. We are delighted to be working with the racing community to showcase racing in a way that has never been seen before.”
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December 31, 1969
Georgia: Gaming interests to renew legalization push for sports betting, other forms of gambling in 2024 session | Yogonet International
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Georgia is preparing for a new debate on the legalization of sports betting in 2024. The issue has generated intense divisions among lawmakers over the past two years, with debates ranging from gambling addiction to the distribution of revenues, with consecutive attempts at legalization failing in the Legislative Assembly.

At a recent meeting, representatives of the Entain Foundation U.S. dialogued with state legislators in search of strategies to pass a gambling bill next year. Bill Pascrell, a trustee of Entain and a partner at PPAG – one of the most influential lobbying firms in the US – revealed that several legislators have asked for support to legalize sports betting and other forms of gambling, following the example of dozens of other American states.

Entain, an international gambling company and partner of MGM Resorts in the American-facing BetMGM venture, and other gambling interests argue that legalization would benefit the state economically.
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Bill Pascrell
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“Georgia, as you can imagine, has politically a lot of issues including the Trump indictment, so there’s a little bit of a distraction at the moment but I feel pretty positive Georgia is going to move (betting) on next year along with a few other states,” Pascrell said, as per WABE.

For his part, Martin Lycka, Senior Vice President of U.S. Regulatory Affairs and Responsible Gaming at Entain, emphasized that the gains go beyond tax revenues, including investments in marketing and benefits for local communities.
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Martin Lycka
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“The other one relates to consumer protection legislation in order to clamp down on any black market,” Lycka said. “Let’s not fool ourselves into believing that Georgians are not betting at this moment.”

While sports betting is seemingly proving more popular with legislators, there are still disagreements about other games, such as horse racing and casinos. Additionally, how the revenues will be distributed remains largely open, and former Georgia Supreme Court Chief Justice Harold Melton sparked another debate when he opined that a statewide ballot referendum is not necessary if gambling is handled by the Georgia Lottery.

Despite disagreements over the format and origin of the tax, a consensus among legislators seems to be that educational projects should be the main recipients, to be used for the same purpose as the state lottery-funded HOPE Scholarship and Pre-K programs. However, there is still disagreement over whether part of that money should be given to need-based scholarships for students.

Not everyone is on board with the plan, though. The Georgia Baptist Mission Board has expressed concern about legalization, warning about the dangers of addiction. Despite admitting that there is a real possibility that gambling will be introduced in the next session, Mike Griffin, a lobbyist for the organization, questioned the real economic benefits for the state, pointing out that the associated costs may outweigh the profits.
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Michael Griffin
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“Sports gambling is one of the most dangerous forms of gambling because of its easy accessibility and its ability to create addiction,” emphasized Griffin. “While I know it is being said that many are already doing this kind of gambling anyway, we must understand that just because somebody is doing something illegal does not mean that it should be made legal.”

The discussion also turns to social responsibility. Entain suggests that legalization could help identify and treat compulsive gamblers, who are currently attracted to unregulated channels including offshore bookies and online casino.

“If you don’t regulate it, you can’t track it, you can’t monitor it,” pointed Pascrell. “And unlike alcohol and drug use, it’s really not readily apparent whether somebody’s having a gambling addiction problem. The only way to penetrate and have an impact on problem gambling in a particular jurisdiction is to regulate it.”
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December 31, 1969
A comprehensive guide to holding multiple online gambling licenses | Yogonet International

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In this guide, iGaming industry consultant Ron Mendelson explores the advantages of having licenses from Malta and Anjouan and why Fast Offshore is the ideal partner to guide you through the process.

The importance of having the right licenses cannot be overstated in the fast-paced online gambling world. Licensing is a crucial aspect of running a legitimate and successful online gambling business, as it not only ensures compliance with legal requirements but also enhances your credibility in the eyes of players and partners. While there are various licensing jurisdictions around the world, holding multiple licenses from reputable sources can provide numerous benefits.

The Power of Dual Licensing: Malta and Anjouan

When it comes to online gambling licenses, Malta and Anjouan stand out as popular choices. Combining these two licenses offers a unique set of benefits that can help your online gambling business thrive.

1. Reputation and Credibility

One of the key advantages of holding licenses from both Malta and Anjouan is the immediate boost in reputation and credibility. Malta, as a member of the European Union, is known for its stringent regulations and high standards. Having a Malta license demonstrates that your online gambling operation adheres to some of the most robust regulatory frameworks in the world.

On the other hand, Anjouan, part of the Comoros Islands, provides a more affordable yet still reputable option. While once unknown. Anjouan is emerging as one of the leading choices for online gambling licensing. This dual-license approach shows that you are committed to providing a trustworthy and secure platform for your customers, having passed multiple due diligence and compliance checks. It is a strong signal to players that your business takes its responsibilities seriously.

2. Global Market Access

With a Malta license, you gain access to the European market, which is one of the most lucrative and competitive in the world. Europe is home to a vast pool of potential customers, and a Malta license opens the door to many opportunities.

Anjouan, while not as regionally specific as Malta, provides a versatile licensing solution that allows you to reach a broader global audience. This combination provides an excellent balance between regional and international market access. It will enable your business to cater to diverse customer preferences while complying with local and international regulations.

3. Regulatory Flexibility

One of the key challenges of the online gambling industry is navigating the complex web of regulations. Malta’s license is known for its stringent regulations, while Anjouan offers more flexibility. This dual-licensing strategy allows you to enjoy the best of both worlds. You can operate with the utmost integrity and security while also adapting to different markets and their specific requirements.

4. Cost-Effectiveness

Holding both a Malta and Anjouan license is also cost-effective. Malta’s license, while prestigious, can be expensive to obtain and maintain. Anjouan’s licensing fees are more affordable, allowing you to allocate resources more efficiently and expand your operations. Holding both means you can reach more players and bring in more revenue, ensuring a maximum return on your investment.

Why Fast Offshore is the Ideal Partner

With numerous benefits to holding multiple licenses from Malta and Anjouan, it’s essential to partner with an experienced company that can seamlessly guide you through the licensing process. Fast Offshore, with over 26 years of experience in the industry, is the perfect choice for those looking to secure the best combination of licenses.

Fast Offshore has a proven track record of helping businesses establish a strong online gambling presence by obtaining licenses from reputable jurisdictions. Here’s why they are the best company to assist you:

1. Expertise and Experience

Fast Offshore’s extensive experience in the online gambling industry allows us to provide expert guidance throughout the licensing process. We are well-versed in the specific requirements and regulations of both Malta and Anjouan, ensuring a smooth and successful application process.

2. Comprehensive Services

Fast Offshore offers a comprehensive range of services, from license application and regulatory compliance to banking and payment solutions. Our one-stop-shop approach simplifies the process and saves you time and effort.

3. Tailored Solutions

Every online gambling business is unique, and Fast Offshore recognizes this. We work closely with clients to create tailored solutions that align with their specific needs and goals. This personal approach ensures that your dual licensing strategy is optimized for success.

4. Global Network

Fast Offshore’s extensive network of contacts and partners worldwide is a valuable asset. We can help you navigate the complexities of entering new markets and establishing partnerships, ensuring your business can flourish.

In conclusion, the benefits of holding multiple online gambling licenses from Malta and Anjouan are undeniable. This combination offers a perfect blend of reputation, market access, flexibility, and cost-effectiveness. When you partner with Fast Offshore, you gain access to a wealth of experience and expertise that will guide you through the licensing process with ease.

If you’re serious about taking your online gambling business to the next level, the dual licensing approach with Malta and Anjouan, along with the support of Fast Offshore, is the winning combination that can help you achieve your goals and reach new heights in this competitive industry. Don’t miss the opportunity to enhance your business’s reputation, expand your market reach, and secure a brighter future.

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December 31, 1969
PokerStars to exit Norwegian market by month’s end for “commercial reasons” | Yogonet International

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PokerStars has officially confirmed its decision to cease operations in Norway by the end of the month. The global poker platform has sent email notifications to players in the country informing them that, as of Thursday, October 26, PokerStars’ online services will no longer be accessible in Norway.

In a statement to Poker Industry PRO, a representative for the company acknowledged the forthcoming withdrawal from the Norwegian market, attributing the decision to cease operations to “commercial reasons.”

“For commercial reasons, we have decided to stop offering our products to residents of Norway from 26 October 2023 and have informed our customers accordingly,” affirmed Flutter Entertainment’s flagship poker room in its communication with PRO.

Despite the withdrawal, PokerStars told its Norwegian customers that access to their accounts would be maintained, guaranteeing them flexibility to withdraw their funds at their convenience.

PokerStars is the world’s largest real-money online poker room and part of gambling giant Flutter. The poker brand now joins competitors bet365, Kindred, ComeOn, and Betsson in withdrawing from the Norwegian market.

Poker operators exiting Norway

Back in September, following years of legal conflicts, Lottstift, Norway’s Gambling Authority, declared that all unlicensed operators must discontinue their illegal offerings or otherwise face severe financial consequences.

At the time, the Norwegian regulator made no specific mention of PokerStars’ market activity. Instead, the threat was made directly against 15 other websites, primarily operated by Kindred, Betsson, and ComeOn.

According to Lottstift, new rulings by the Storting (Parliament) had granted the authority new powers to combat non-regulated gambling. These include the abilities to block IP access to illegal websites and to demand that Norwegian banks and financial services terminate monetary transactions with unlicensed operators.

Before the enforcement measures, Lottstift had been involved in a number of lawsuits against European operators who disputed the authority’s rules, arguing that these rules favored the monopoly practices of Norsk Tipping and Rikstoto. Operators further said the regulations were in breach of EU competition laws.

September’s announcement was deemed by Lottstift Director Henrik Nordal as a victory for Norway, effectively ending unlicensed operators’ activities in the country, as they will no longer be able to target Norwegian consumers.

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December 31, 1969
Brazilian iGaming Summit strengthens its partnership with SiGMA for the event’s third edition in Sao Paulo | Yogonet International

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The organization of the Brazilian iGaming Summit (BiS) announced that it has strengthened its partnership with the SiGMA group for the third edition of BiS SiGMA Americas, to be held April 23-26, 2024 at the Transamerica Expo Center in the Brazilian city of Sao Paulo.

In a statement, Carlos Cardama, BiS co-founder, said: “The joint venture with the SiGMA group is a successful partnership, which places, in only its third edition, the Brazilian iGaming Summit, a South American edition in SiGMA’s event portfolio, as a world-class event and the most important in the entire Latin American region, demonstrating especially the enormous blue ocean potential of the Brazilian market.”

According to the event organizers, BiS SiGMA Americas 2023 had more than 6,700 visitors – of which around 40% came from more than 40 countries abroad -, more than 250 exhibiting and sponsoring companies, more than 130 speakers, and more than 60 hours of content in two simultaneous auditoriums.

About this, Alessandro Valente, BiS co-founder, said: “The event is organized by Brazilians who think about the Brazilian market. The partnership with SiGMA provides the global vision needed to complement and add to our vision of the industry.”

“Currently, Brazil is one of the largest markets in the gaming and betting sector worldwide. And with the regulation, it has the potential to be even bigger and more interesting for foreign companies wishing to invest in Brazil,” he added.

Based on this, the organizers affirmed that “the 2024 event promises to be even bigger and better, with an expanded exhibition area and the expectation of an even greater number of visitors.”

“The format of the event has been enhanced to include a larger exhibition area, content in two simultaneous auditoriums, and live online streaming during the days of the event,” the organizers concluded.

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December 31, 1969