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AMGO iGaming AB signs purchase agreement to acquire Jetbull, the EveryMatrix B2C brand

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EveryMatrix announces that a purchase agreement of €2 million for the acquisition of Jetbull, the EveryMatrix B2C brand, was recently signed with AMGO iGaming AB. Starting 1st of July 2019, AMGO will get full ownership of Jetbull and has already started the transition phase to operate and manage the brand.

Operating on the EveryMatrix white label platform, Jetbull is a strong gaming brand that offers competitive casino and sportsbook. With more than 600,000 registered customers, Jetbull has experienced substantial growth over the last 24 months. Jetbull will continue to be operated under EveryMatrix’s Maltese, UK and Danish licenses.

Ebbe Groes, Founder and Group CEO of EveryMatrix, commented: ”Some B2B companies have their own B2C brands competing with their B2B clients. This has always been against our strategy, and with this transaction, we now completely shut down own brands and we can focus exclusively on our role as a software service supplier for casino, sports, payments, and platform.

To sell our own brand Jetbull to AMGO is an important step for us to continue developing the market’s most competitive online gaming platform and no longer focus on being an operator. AMGO has the right setup for operating multi-brands in different jurisdictions, and we are sure that we will see a huge increase in Jetbull’s reputation as a strong brand in regulated markets.”

Mads Jørgensen, Board member and Director of AMGO, said: “We have enjoyed an excellent working relationship with EveryMatrix, and this agreement will take our partnership to the next level. We are very satisfied with this agreement and have set the strategy and performance targets to generate shareholder value.”

As a former Commercial Director for EveryMatrix and present Group CEO of AMGO, Nicolas Fleiderman, has a good insight into the newly acquired brand: “We have worked on this agreement for a long time and know exactly what synergies we can achieve to accelerate the growth and become more efficient. We have built up a new organisation that will focus on Jetbull and will continue to recruit talented professionals that can improve the performance.”

Viorel Stan, CEO of Jetbull, added: “There is great chemistry between AMGO and the Jetbull organisation and we will do our best to secure a successful transition. This transition will ease Jetbull’s goal of becoming a top player in all regulated markets targeted and continue the consistent YoY growth. EveryMatrix will continue as the main technology provider, and we will make sure that Jetbull is supported with the newest innovations to keep the brand at the forefront of the industry.”

The acquisition price of Jetbull was set at €2 million. €1 million will be paid in cash and €1 million in newly issued AMGO iGaming AB shares at SEK 1.0 which correspond to 10,750,000 shares.

 

About AMGO iGaming:

With 5 fully owned gaming brands to date, AMGO iGaming AB knows what it takes to achieve operational excellence and they take great pride in serving over 500.000 customers. With the rapid change in consumer demands and technologies AMGO strives to do their utmost to earn the customers’ trust, respect and engagement. AMGO has offices and representatives located in Denmark, Malta, Israel, Costa Rica and Latvia.

 

About EveryMatrix:

EveryMatrix delivers a modular and API driven product suite including a market leading one-stop shop casino content aggregator and integration platform, a cross-product bonusing engine, a fully managed sportsbook and sport data services, a stand-alone payment processing product, and a multi-brand affiliate/agent management system.

To offer the services required by operators, the EveryMatrix products work together as an entire platform or independently and can be easily integrated with existing platforms to accommodate different types of clients from bookmakers to lotteries and, from existing large operations to newcomers. Learn more at www.everymatrix.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: AMGO iGaming AB signs purchase agreement to acquire Jetbull, the EveryMatrix B2C brand

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Gambling sector deemed the industry most at risk of money laundering, new research from LexisNexis Risk Solutions reveals

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1 in 3 (33.3%) anti-money laundering (AML) professionals in the gambling industry believe that their sector is at the highest risk of money laundering, according to a new report from global analytics provider LexisNexis® Risk Solutions. This opinion is shared by 41.9% of professionals in other regulated industries surveyed, who flagged the gambling sector as one of the top three industries most at risk of money laundering.

The report – On the Frontline: The UK’s Fight Against Money Laundering – is based on research conducted by the Economist Intelligence Unit and points to the risk potentially being caused by an internal culture of complacency. Almost 40% (39.2%) of AML professionals in the sector identified complacency as the biggest internal barrier to fighting money laundering. This, coupled with the fact that the same number (39.2%) think UK money laundering regulations are only “somewhat effective” points to a potential financial crime storm ahead for the gambling sector.

The Gambling Commission is acutely aware of the challenge, and in its 2018/19 Enforcement Report noted that it had investigated ‘a number of online casino operators’ found to have breached conditions related to the AML portions of their licences. During the past financial year, the watchdog issued a record £19.6m in penalties against firms who failed to stop money laundering or meet social responsibility obligations, and has warned of further ‘draconian’ actions for those operators who fail to learn lessons from these fines.

Even with this ramping up of enforcement actions, over 40% (41.2%) of respondents believe that the anti-money laundering regulations that they have to comply with are disproportionate to the money laundering threat that they actually face.

Despite a culture of complacency and lack of confidence in the AML regime, gambling firms are pouring money into AML compliance, with a vast majority (82.3%) stating their compliance budgets have increased over the last two years – more so than any other sector surveyed in the report.

A majority of this budget is being allocated to technology aimed at tackling the problem, the research revealed. Over 40% (41.7%) of AML compliance budgets is dedicated to technology at the moment, with over three quarters of respondents (78.4%) expecting funding for technology to increase further over the next five years.

Michael Harris, Director of Financial Crime Compliance and Reputational Risk at LexisNexis® Risk Solutions says:

“The threat money laundering poses to the gambling sector is very real, and this fact is clearly recognised by those working within it too.

The industry needs to take urgent steps to address this growing threat by ensuring that customer due diligence checks are conducted before allowing any gambling activity to begin, and, given the rise in online gambling, should consider embracing digital know your customer (KYC) technologies.

This, along with training teams dealing with customers on the frontline to spot money laundering red flags and adopt a risk-based approach, gives gambling operators the best chance of fighting financial crime and meeting their legal obligations.”

 

About LexisNexis® Risk Solutions

LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial services, healthcare and government. Headquartered in metro Atlanta, Georgia, we have offices throughout the world and are part of RELX (LSE: REL/NYSE: RELX), a global provider of information and analytics for professional and business customers across industries. For more information, please visit risk.lexisnexis.co.uk, and www.relx.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: Gambling sector deemed the industry most at risk of money laundering, new research from LexisNexis Risk Solutions reveals

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SIS Selects Sportech To Provide Global Commingling Solution

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SIS (Sports Information Services) and Sportech PLC today announced a global commingling totalisator agreement that will allow SIS to create and disseminate a worldwide pool for greyhound racing.

SIS, the leading supplier of 24/7 betting services to retail and online operators globally, will utilize Sportech’s Quantum™ System pari-mutuel betting software to offer the greyhound global pool, leveraging Sportech’s unrivalled worldwide reach and expansive global commingling capabilities. Sportech will also provide hosting and operational services of the greyhound global pool from the company’s Global Quantum™ Data and Operations Centres.

Paul Witten, Product Director at SIS, said “This partnership further bolsters our capability as the leading supplier of 24/7 betting services worldwide.

“Sportech’s market-leading technology will help facilitate SIS’s greyhound racing global pool, which will further expand the reach of greyhound racing around the world”.

 

Bruno Gay, Vice President Sales and Business Development EMEA for Sportech, said: “We are delighted to partner with SIS to deliver a greyhound racing global pool, a project for which Quantum™ System and Sportech’s global service delivery network are perfectly suited.

 

Sportech’s Quantum™ technology has helped betting clients all over the world find new markets for their products and new content for their consumers.  On the heels of the successful implementation of the “Ascot World Pool” for UK Totepool, Ascot Racecourse, and the Hong Kong Jockey Club, we are delighted to support SIS in offering a global pool to satisfy the world greyhound racing market.”

About SIS

SIS (Sports Information Services) has been a trusted partner to the global betting industry for over 30 years, supplying short form betting content to online and retail betting operators. Our horse and greyhound racing content can help keep customers engaged and increase dwell time online and in-shop.

SIS provides operators with an end-to-end solution for horse and greyhound betting including data, live pictures, prices and derivatives, creating betting events to help drive profitable sales. For more information about SIS please visit www.sis.tv.

 

About Sportech

Sportech PLC is the international betting technology business delivering services and solutions to gaming companies, sports teams, racetracks, casinos and lottery clients across 37 countries.  In addition, the Group owns and operates sports gaming venues in Connecticut, United States, under exclusive licenses.

Sportech is a leading global provider of wagering technology solutions to licensed betting operators worldwide. Sportech systems process US $12 billion in bets annually for licensed operators across 37 countries. For more information, visit www.sportechplc.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: SIS Selects Sportech To Provide Global Commingling Solution

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WePlay! Dota Underlords Open: the registration for all comers starts!

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Dota Underlords fans from all over the world are welcome to register and compete for the total prize pool of $15,000.

WePlay! Esports has revealed the details for everyone willing to take part in WePlay! Dota Underlords Open open qualifiers. The registration is open from July 15th till July 23th, 2019, 23:59 CEST (14:59 PDT). The schedule and registration process details are available at WePlay! Esports website.

To sign up for WePlay! Dota Underlords Open participants are needed to have an account at Challonge.com and also join WePlay! Esports Discord channel. Regular announcements and news will be available at the #underlords_open_announces group; all communication with the players will be held through Discord.

Dota Underlords Open will have two divisions: Vicious Order (Europe) and Crimson Gang(Americas). The divisions are not region-locked, so players from all over the world can participate. Each round will have three games. The best four players with the highest points move on to the next round. The qualifiers will be taking place until there are only eight players. Those eight players will be invited to the main event, taking place from August 1st to August 4th, 2019.

Players are entitled to participate in qualifiers through multiple regions and, moreover, they can play from a mobile device. Participants are also allowed to stream their games on their private Twitch channels, but they are not allowed to stream the main event (after the end of the qualifiers).

WePlay! Dota Underlords Open open qualifiers start on July 24th and will be taking place till July 28th, 2019. The winners will be invited to the main event with a $15,000 prize pool.

More details of WePlay! Dota Underlords Open tournament are available at WePlay! website.

#WePlay #WePlayDotaUnderlords

Source: WePlay! Esports Press Office

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: WePlay! Dota Underlords Open: the registration for all comers starts!

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