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How liberal will the Swedish gambling market really be?

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Since the plans for liberalization and licensing were announced, casino marketing has become a huge public issue in Sweden. That’s not surprising. In a country that has sought to police public morality so tightly, for so long, some pushback is to be expected.

In February 2019, the government made a strong statement, warning operators against adopting “aggressive” marketing strategies to capture market share in the fledgling market.

Concerns have regularly been raised in the Swedish media regarding safeguards for problem gamblers and younger people, as well as the general promotion of casinos as legitimate businesses. It’s a cultural challenge for the companies as well as Swedish society, so which way will the market go?

Casino marketing: what does the law say?

What we know right now is that the regulations introduced in late 2018 to put online gambling on a firmer footing say relatively little about marketing methods.

Instead, they focus on taxation, age limits, and the licensing process. The focus is more on creating “safe spaces” for gambling, rather than telling operators how to promote their businesses.

So, there will be quite tight limitations on the welcome bonuses available from licensed operators (Spelinspektionen.se – last update 2019-01-31), as well as the types of bonuses and deals available to regular customers. The idea is that casinos elsewhere have sometimes taken these promotions too far, giving players an unrealistic sense of potential winnings, while exploiting vulnerable people.

But this leaves out a large chunk of online casino marketing, as well as member benefits like sports tickets. So while bonuses are going to be restricted, expect to see plenty of creative promotional ideas emerging to compensate.

What about advertising? Has Sweden got the balance right?

Most importantly, the new regulations are a bit unclear about the role of advertising. And with bonuses taking a back seat, this could mean that casino operators will leverage ads in greater occurrence instead.

This could lead to an epidemic of glitzy, visually seductive ads, targeting the impulses of potential customers. But things could be more laid back as well.

Remember, the Swedish casino regulations stipulate harsh fines for breaching license guidelines, sometimes reaching as much as 10% of a company’s turnover. That’s pretty uncommon elsewhere in the gambling world, and we can’t be sure how it will affect the way casinos operate.

So the future is unclear. Sweden could head towards a zero advertising model (similar to Italy), or relax its attitude towards marketing (as with the UK). But the smart money is on a slow liberalization of the way casinos are promoted.

Sweden is lukewarm about gambling, but the direction of travel is clear: It’s a market Stockholm wants to encourage, and advertising is a key part of the picture.

Licensed online casino operators in Sweden

2 months have passed since the re-regulation of the market and so far, 69 companies have been granted a Swedish casino license. It’s a mix of old companies such as Betsson and Unibet and new sites, such as the Swedish casino Dreamz, that was granted a license at the end of 2018.

When speaking to the people at Dreamz.com regarding this huge change on the Swedish market they saw it as s positive development for both the casino industry in general and for Swedes and Sweden as a country.

Many of us at Dreamz have been in the casino business for over 10 years, and we believe this is what industry needs. Serious and legitimate companies will benefit alongside Sweden as a country, while operators that cannot deliver what is required to uphold the license requirement will disappear from the market. For one thing, responsible gambling is an issue that some companies need to make a better effort in, and as from 1 January 2019, this is a topic that will be of the highest priority and under the supervision of the Swedish gambling Authority, which is great for all parties.

 

 

 

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: How liberal will the Swedish gambling market really be?

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GAN Launches Internet Casino for Parx Casino

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GAN plc, an award-winning developer and supplier of enterprise-level B2B Internet gambling software, services and online gaming content in the United States, announced that GAN and Greenwood Gaming & Entertainment, Inc. trading as ‘Parx Casino’ launched 24/7 Internet casino gaming in the Commonwealth of Pennsylvania last week.  This launch represents the second major launch of online services for Parx Casino, following the launch of internet sports betting on June 24, 2019.

At launch, Parx Casino was the only Internet casino offering the #1 market leading table game online, ‘Pro Blackjack’ (Pennsylvania Edition), developed and delivered by GAN to be compliant with Pennsylvania’s specifically-approved blackjack game rules. A total of 47 casino games were released via desktop and mobile web together with an Android-compatible mobile App.

Selected casino slots and table games were delivered online for GAN’s Development & Distribution clients, including major U.S. casino equipment manufacturers’ Incredible Technologies, Everi Holdings, DEQ and KONAMI.

Parx Casino patrons can also link their Reward Card online to their counterpart Internet gambling account, enabled by GAN’s U.S. patented integration framework.

Highlights

  • The Pennsylvania regulated Internet Gaming market is forecast to generate $200m1 in gross gaming revenue online during the first twelve months of operation and Internet Sportsbetting is forecast to generate a further $189m2 in the same period.

 

  • Parx owns and operates the #1 land-based casino property in Pennsylvania located a short distance from Philadelphia, Pennsylvania’s largest city. In the most recent fiscal year ended June 30, 2018, Parx Casino generated $570m from on-property slot machines and table games, representing an 18% share of the Pennsylvania’s $3.2bn gaming market.

 

  • GAN’s US-patented technology enables Parx Casino patrons enrolled in the on-property loyalty program, to sign up online and instantly link their reward cards to their online account permitting those guests to trade in their reward points earned from on-property gaming for cash online and/or to earn rewards points from Internet gaming and/or sports betting to be subsequently redeemed on-property.

Management Commentary

Dermot Smurfit, Chief Executive Officer of GAN commented:

“Launching the largest casino in Pennsylvania online, nearly two years after legislation first passed, appears to have been well worth the wait. GAN’s shareholders can take heart that early indications appear supportive of Industry forecasts for Internet gambling in Pennsylvania and we look forward to expanding into other U.S. States for Parx Casino as well as for new clients, just as we have now expanded from New Jersey into neighbouring Pennsylvania. As the saying goes, ‘experience counts’ and GAN has the experience, capability and opportunity to remain a market leading B2B technology provider as more U.S. States regulate Internet gambling. On behalf of everyone at GAN, we would like to thank our client Parx Casino and the Pennsylvania regulator, the PGCB, for the privilege of serving Internet gambling to residents of your Commonwealth.

John Dixon, Chief Operating Officer of Greenwood Gaming & Entertainment, Inc commented:

“By leveraging GAN’s proven Platform, Parx Casino has now deployed both Internet sports betting and Internet casino gaming, integrated with our Xclub on-property rewards program, to become among the very first Internet gambling operators to launch in the Commonwealth of Pennsylvania.”

Notes
1                Eilers & Krejcik Gaming, LLC | ‘Pennsylvania Gambling Expansion – Overview and Analysis’ November 8, 2017
2                Regulus Partners, an International gambling advisory group June 18, 2018

About GAN Plc :
GAN is a leading business-to-business (“B2B”) supplier of internet gambling software-as-a-service solutions (“SaaS”) to the US land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK™, which it licenses principally to land-based US casino operators as a turnkey technology solution for regulated real-money internet gambling, encompassing internet gaming, internet sports gaming and virtual Simulated Gaming.  The Company has also launched digital user acquisition & retention marketing in support of the Internet Casino provided by GAN’s Digital Marketing Agency in Tel Aviv, Israel.
GAN is listed on the London Stock Exchange (LSE: GAN).

For more information please visit www.GAN.com.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: GAN Launches Internet Casino for Parx Casino

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Play’n GO Create a Frenzy with Brand New Release

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Play’n GO Create a Frenzy with Brand New ReleaseReading Time: 2 minutes

 

Play’n GO have unveiled their latest game into the market today, and it is titled Firefly Frenzy.

 

Firefly Frenzy is a 5-reel slot with a “unique and colourful” design based around a bright forest theme. The game uses the fireflies of the title as multi-coloured Wilds that land gently on the reels during gameplay.

A beautifully designed 5×4 reel slot, Firefly Frenzy makes use of rich and vibrant colours to light up the reels, bringing the game to life with the bright flower and firefly symbols. The crowning feature of the game is its dynamic special feature, aptly named Frenzy Spins, which will appeal to players who like explosive gameplay with high potential.

While Play’n GO are more well-known for the strong narratives and backstories that come with their slot games, this is a classic and enjoyable slot from them, in the vein of other releases this year such as Inferno Star and Perfect Gems. Play’n GO have also seen success with these simple slots like player favourite Mystery Joker.

CEO Johan Törnqvist spoke of how the game is another example of the company’s diverse range of content in its portfolio:

“Variety is a hugely important factor in creating the best library of content. Slot gaming has an audience of millions worldwide, and so it’s only natural that there are different tastes and preferences within the market.

You cannot truly be a leading supplier in this industry if you do not supply your partners with a diverse suite of entertainment for their players, to appeal to as large a market as possible.

At Play’n GO we have this diversity but, no matter the style, gameplay or theme of the game, they all carry one thing in common, and that is the Play’n GO quality which has led us to the top of the industry.”

Firefly Frenzy is available to play online today.

 

Founded in 2005, Play’n GO are a leading supplier for slot gaming in the casino industry. One of the first suppliers to recognise and utilise the potential of mobile slot gaming, their innovation has revolutionised the industry and led Play’n GO to the forefront of the casino supplier market. Since its inception Play’n GO have curated a portfolio of award-winning games developed and tailored for compatibility with all devices and operating systems. In addition to this, they also provide back-end services and solutions to ensure operators are equipped to provide the ultimate gaming experience; this includes their casino platform and their server-based gaming solution, OMNY.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Play’n GO Create a Frenzy with Brand New Release

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Kambi Group plc Q2 Report 2019

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Kambi Group plc Q2 Report 2019Reading Time: 3 minutes

 

Financial summary

  • Revenue amounted to €21.6 (17.6) million for the second quarter of 2019, an increase of 23%, and €42.6 (34.0) million for the first half of 2019, an increase of 25%
  • Operating profit (EBIT) for the second quarter of 2019 was €2.5 (2.4) million, with a margin of 11.7% (13.8%), and 5.1 (4.4) million, with a margin of 12.1% (12.9%) for the first half of 2019
  • Profit after Tax amounted to €1.6 (1.7) million for the second quarter of 2019 and 3.6 (3.2) million for the first half of 2019
  • Earnings per share for the second quarter of 2019 were €0.052 (0.055) and €0.117 (0.107) for the first half of 2019
  • Cash flow from operating and investing activities (excluding working capital) amounted to €0.4 (1.9) million for the second quarter of 2019 and €1.6 (2.5) million for the first half of 2019

 

Key highlights

  • Solid financial performance with 23% year-on-year revenue growth and 26% operator turnover growth, despite tough comparatives including the 2018 football World Cup
  • Signed a new customer in BetWarrior, which will further Kambi’s expansion in Latin America
  • Took first legal online sports bet in Pennsylvania with Rush Street Interactive (RSI). Powering the first three online sportsbooks to launch in Pennsylvania
  • Took first legal bet in New York State with RSI at Rivers Casino & Resort Sportsbook

 

“I’m pleased to report Q2 2019 was yet another positive period for Kambi, delivering solid financial growth despite the lighter sporting calendar, and signing new customer agreements to keep up our positive commercial momentum.

Kambi’s Q2 revenue increased 23% year-on-year while operator turnover grew by 26%. Operator trading margin was 8.2%, slightly higher than our expected long-term average. Across the first six months of the year, Kambi revenue was €42.6m, an increase of 25% on H1 2018.

It was during Q2 last year that the US Supreme Court decided to repeal the country’s federal sports betting ban, a judgment I said at the time would create significant business opportunities for Kambi. Looking back over the past 12 months, I’m proud to say we’ve built a robust US-facing business with a fantastic portfolio of partners, and I continue to have great confidence in our future prospects.

The development of the competitive landscape in the US has certainly been dynamic, with operators and suppliers taking a variety of strategic routes. For some, joint ventures or M&A have been the preferred choice, while for our multiple US customers, the decision to partner with Kambi has brought them immediate success, and long may that continue.

As the number of regulated states steadily increases over the coming years, so too will the number of attractive opportunities. The fact Kambi has proven its ability to deliver in the US, coupled with our ongoing US investments in people and products, puts us in a good position to convert the best of these opportunities.

Although much focus is on the US, Kambi continues to explore opportunities globally. In this regard, I am delighted we signed another new customer in Q2, with BetWarrior the latest to join the Kambi network. Although a new operator, BetWarrior is led by an experienced and ambitious management team, one which plans to target countries in Latin America, a region where we’ve seen positive regulatory developments of late.

I’m also pleased that we strengthened our partnerships with National Lottery and the Rank Group. National Lottery has taken the Kambi sportsbook into Moldova, having enjoyed strong growth in its home country of Bulgaria. Meanwhile, Rank will soon add the Kambi Sportsbook to its Spain-facing Enracha brand, and we’ll continue to power its Grosvenor Sports brand in the UK.

This remains an exciting time for Kambi and I look forward to seeing what the second half of the year brings.”

You are invited to participate in a report presentation at 10.45 (CET) with Kambi Group plc’s CEO Kristian Nylén and CFO David Kenyon. The presentation will be held in English via a telephone conference and can also be accessed via an audiocast using the link below.

Questions can be asked on the telephone conference or sent via the audiocast link. Please see details in the link below:

https://financialhearings.com/event/12004 

Numbers for participation in the telephone conference:

SE: +46856642704 UK: +443333009264 US: +18338230589

No pin required.

Link to the audiocast: https://tv.streamfabriken.com/kambi-group-q2-2019

 

About Kambi:

Kambi is a provider of premium sports betting services to licensed B2C gaming operators.  Kambi Group plc is listed on First North at Nasdaq Stockholm. Our services encompass a broad offering from front-end user interface through to odds compiling, customer intelligence and risk management, built on an in-house developed software platform. Kambi’s 20-plus customers include 888 Holdings, ATG, DraftKings, Greenwood Gaming & Entertainment, Kindred Group, LeoVegas, Napoleon Games and Rush Street Interactive. Kambi employs more than 750 staff across offices in Malta (headquarters), Australia, Philippines, Romania, Sweden, the UK, and the United States

Kambi utilises a best of breed security approach, with guiding principles from ISO 27001. Kambi is eCOGRA certified. Kambi Group plc is listed on First North at Nasdaq Stockholm under the symbol “KAMBI”. The Company’s Certified Advisor is Redeye AB.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Kambi Group plc Q2 Report 2019

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