Industry News
Europe’s gambling culture is slowly fading away
Europe is often regarded as the cultural hotspot of the world. It is home to some of the world’s most celebrated artists, enchanting cities and phenomenons. Countries like France, Spain, Italy and the United Kingdom attract more tourists than any other part of the world. Naturally, such big numbers of international visitors travel long hours for a reason. These countries offer scenarios and landmarks that can not be seen elsewhere.
Over time, the cultural heritage and traditions well-hidden in the depth of the continent made it one of the richest corners of the world. Every period of its history is still reflected on old city walls and once nearly devastated cathedrals. This surely is what attracts so many people from all across the globe. Besides, Europe is the financial center of the world. With hundreds of millions of residents, some of the biggest corporations are headquartered in major financial hubs of Europe.
All of these factors led to the development of a powerful gambling industry which is widely acknowledged as one of the best globally. Cities like Monaco and Nice on the french riviera are modern meccas for gamblers from all around the world. Venues in such cities offer luxury services, sparkling environments and big chances of winning.
Despite Europe’s love for luxury, the continent is not lagging behind in any niche of gambling. The economical development of Eastern and Central Europe saw a rising number of capitals being turned into gambling heavens. Cities like Prague, Warsaw, and Kyiv are some of the top destinations for budget gamblers. They particularly attract crowds from western Europe, where casinos are more sophisticated and gambling, as well as other means of entertainment, is related to higher costs.
All in all, the continent of Europe has developed a well-established gambling culture in almost every nation. Players can find desired venues within any price range in European countries. However, the culture is slowly disappearing amid the spread of online gambling platforms. Recommendations and overall feedback from the community, especially the ones outlined in the Playamo casino review along with others clearly suggest that modern gambling enthusiasts are turning towards online casinos.
At first glance, it is difficult to understand why online gambling is gradually overtaking physical venues across the continent. The thing is that young people, as well as those with high incomes but limited time due to work now prefer more convenient options. For many, getting to the casino is too time-consuming and inefficient. Thus, an increasing number of people choose to enjoy their beloved activity from home.
Moreover, online casinos are popping up faster than physical ones. As a result, the competition between them is higher leading to better offers for customers. Bonuses and free spins are provided for new players by many online gambling platforms. Under such circumstances, it is obvious that many people choose to get online rather than pay a visit to their local casino.
This trend is also affecting the income of casinos, particularly in Eastern Europe. Monaco, London and other grand meccas of gambling will keep having enormous numbers of visitors unlike those located in Prague or Budapest. Their revenues are highly dependant on visitors from other European nations, as well as overseas travelers. As online gambling opportunities arise in almost all corners of the world, some less known venues in Europe are left without visitors.
Furthermore, there is a new wave of legislative changes across the continent that is having a major impact on the industry. Laws are being made stricter in some central and eastern European nations amid the global liberalization of the field. One example is the Czech Republic which recently tightened its rules on gambling. Country’s capital Prague remains a major gambling industry hub but its status in the future is uncertain.
Other countries like Belgium are also making legislation against gambling more comprehensive. None of the countries are banning casinos altogether, however, the added pressure caused by new laws is making maintenance and operation of physical venues more expensive than ever before. Amid such a crisis, online platforms are yet again taking the opportunity, spreading their services into new markets in Europe and beyond.
Despite the views about gambling, it undoubtedly is an important part of European culture. Far before Las Vegas would arise across the Atlantic in Nevada, Europe was already establishing its first formal gambling venues. After its beginning in the 17th century, the industry has become associated with many cities and towns in Europe. Some of them are solely dependant on revenues generated by casinos. Thus, the disappearance of Europe’s gambling culture can only be seen as a big loss for the continent.
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Raketech Group Holding Plc announced an agreement to sell the Casumba assets due to regulatory developments affecting its markets.
The transaction, valued at a fixed consideration of EUR 12 million, will be paid in monthly instalments through December 2029, with no upfront cash payment. Under IFRS 9 accounting standards, the deferred consideration has been measured at the fair value of approximately EUR 7 million at closing. The EUR 5 million difference between the fixed consideration and the fair value reflects an element of ongoing credit risk and the extended payment schedule. Any further adjustments will be recognised through the profit and loss account over the payment period, in accordance with IFRS 9 requirements.
The consideration carries an 8% interest rate and will be paid in variable monthly instalments through December 2029.
The sale supports Raketech’s platform-first strategy, focusing on core markets and sustainable growth in iGaming affiliation. The decision to divest Casumba stems from recent regulatory shifts in its markets. This move aims to remove regulatory risks, and redirect capital to Raketech’s leading iGaming affiliation platform, AffiliationCloud.
The Casumba assets generated annualised revenues of approximately EUR 4.0 million with an EBITDA of EUR 2.9 million, based on the Q2 2025 run rate.
Raketech will record a non-cash loss on disposal of approximately EUR 10 million in Q3 2025. This loss primarily arises from the difference between the book value of the Casumba assets and the IFRS 9 fair value of the consideration. The loss on disposal is a one-off, non-recurring loss and will not impact Raketech’s cash flow or operational performance.
The transaction has been signed and closed on 24 September 2025.
Johan Svensson, CEO of Raketech, said: “This sale marks another step in refining our portfolio and concentrating on our core goal of creating the top commercial platform for iGaming affiliation. By divesting Casumba, we eliminate regulatory exposure and unlock resources for growth opportunities. This transaction reflects our dedication to sustainable shareholder value and financial discipline.”
The post Raketech Announces Divestment of Casumba Assets appeared first on European Gaming Industry News.
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Ten years after its quiet debut as a casino listing site, SlotsUp has reintroduced itself with a complete rebuild. What started in 2015 as a basic catalogue of online casinos has evolved into a structured, data-driven product designed around user needs and practical tools that actually help make smarter choices.
For years, SlotsUp relied on the industry-standard model. That formula worked, until it didn’t. So in 2025, the team behind SlotsUp tore it all down.
“We spent years chasing SEO. At some point, it became clear that the balance was off — too much energy went into ranking, and not enough into what players truly needed. That had to change. We shifted toward building a product where clarity, trust, and the user’s perspective always come first,” said a team lead at SlotsUp.
Not Just a Redesign — A New Product
SlotsUp 2.0 introduces a new brand identity, an updated interface and a new core principle: act like a correspondent, not a catalogue. That shift is reflected in a complete rethink of how casinos are added, rated and shown to users. Entry is no longer automatic — each listing must pass through a rigorous system of over 100 internal rules governing data quality, compliance, layout and trustworthiness.
The platform now filters and presents only what matters. Each casino is reviewed through 12 custom-built metrics, including:
Safety Index: Built on 4 criteria, from licensing transparency to user complaint volume.
SlotsUp Rating: A detailed breakdown of license, bonuses, payments, support and responsible gambling tools
Casino Match: A personalised alignment tool based on the user’s region, currency and language.
Radar: A visual chart comparing a game’s win potential against industry averages.
And now there’s Multi Game Mode — a new way to test and compare slots side by side. Players can launch up to four games in demo mode simultaneously, making it easy to spot differences in features, pace and style. It’s a faster, smarter way to find the game that truly fits your preferences.
The result is a real product, not just a database — with tools that respond to where the player is, what they value, and how they play.
From a List to a Real Product
The company’s team of 28+ experts includes writers, developers, designers and gambling professionals. Every review is written or reviewed by individuals who are well-versed in the industry.
Now, every rating is based on a clear system. Information is sorted by what matters to players: safety, fairness, relevance and quality.
SlotsUp 2.0 is built to guide users, not push them. It focuses on clarity, responsibility and smarter choices — one player at a time.
The post SlotsUp 2.0 Launch: Transformed into a User-Centric Product appeared first on European Gaming Industry News.
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Vyking, the next-generation iGaming platform provider, has announced the appointment of João Soares as its new Chief Technology Officer (CTO).
João, a Portuguese native, is a highly accomplished engineering leader with more than a decade of senior experience in the iGaming sector, having held leadership roles at William Hill, BetVictor and White Hat Gaming. In a previous role, João served as Head of Engineering at White Hat Gaming, where he managed 120+ people and spearheaded the transformation of the company’s engineering function. He introduced scalable team structures, mentored managers and technical leads, and embedded Agile methodologies across the business. His leadership was pivotal in turning a flat engineering setup into a high-performing, resilient and delivery-focused organisation.
Prior to that, João spent over five years at BetVictor, where he held senior engineering roles and led the launch of eight native mobile apps across iOS and Android, supporting 60% of the company’s business in the UK, Germany and Asia. He also worked as Development Manager at William Hill, contributing to product and platform initiatives across multiple teams.
Beyond iGaming, João also gained senior leadership exposure in other technology sectors, including roles as Head of Engineering at Vision-Box and as Director of Engineering at Easyship, where he focused on digital transformation, QA implementation and leadership coaching.
João Soares, incoming CTO of Vyking, said: “I am thrilled to be joining Vyking at such an exciting time. The company’s platform vision, which combines flexibility, scalability and true product ownership for operators, is exactly the type of challenge I’m passionate about. My goal is to help accelerate innovation, build high-performing teams and ensure Vyking continues to set new standards for iGaming technology.”
Franz Gerhart, CEO of Vyking, said: “João brings the perfect blend of technical expertise, leadership capability, and proven industry experience. His track record of scaling engineering teams and driving transformation at leading operators will be invaluable as Vyking enters its next phase of growth. I also want to acknowledge Helmut Kleinhans, who has excelled in leading our technology function and is now stepping into a new senior role as Chief Software Architect. This transition reflects his passion for deep technology and innovation, enabling him to focus on advanced engineering across the wider business. Helmut’s impact has been pivotal in positioning Vyking for success, and we are thrilled he will continue to shape our technology future.”
The post Vyking Appoints João Soares as CTO appeared first on European Gaming Industry News.
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