Industry News
Germany to Officially legalize online gambling and poker
Germany’s relationship with online gambling has been in a grey area for quite a long time. It was largely illegal, except for about 20-something operators who had permission. There were not many legal gambling sites in Germany, and the process of obtaining a license was extremely hard and complicated.
According to a new regulation that will take place starting the 1st of July, Germany will be legalizing online casinos and poker officially, on a state level. The legislation was passed at a meeting in Berlin.
When will it go into effect?
The changes will be implemented slowly as the regulatory body Glücksspiel Neuregulierung Staatsvertrag /GlüändStv/ will be instantiating online casinos and poker among legal ways to gamble online.
As of now, only sports betting will be allowed for companies who obtain the license from Darmstadt Regional Council, for which 30 companies have already submitted an application, and about the same number is allegedly making plans to do so in the near future.
What do you need to know?
Sports betting will also be one of the subjects that will undergo some changes with new guidelines. Mainly, live betting will be limited to a degree, specifically how the bets are made on final results and the next scorers.
Besides poker and sports betting, most other casino games will be fully allowed as well, including the oft-desired slots which are very popular all around the world. Due to their popularity, slots will come with some very strict guidelines that need to be followed by each and every casino offering them. As an example, the maximum bet per spin will be limited to €1, along with a mandatory €1000 deposit limit. Slots will also need to be advertised and offered separately from all other table games, and they may not be advertised between the times of 6AM and 9PM.
One of the main advantages that this change will bring is the safety of the consumer. As stated, online gambling is a grey area in many countries, and that includes Germany. The government officially stepping in to regulate the environment ensures that people may safely try out a lot of different casinos. Comparing the best casino bonus codes is something that many gamblers use as a main deciding factor for choosing an online casino, but what they often miss is the safety aspect of it, meaning how trustworthy and legitimate a casino is. There’s also the issue of reliability of the software itself, payment processing and more. With the government officially setting standards, the bar will be much higher, ensuring higher overall quality for all players.
While these regulations are in place for the consumer’s protection and are made with the best intentions in mind, many in the gambling community, and also from the regulatory environment as well, are quite discontent with these changes. The German Sports Association (DSWV) president responded that while this was a good and positive step towards modern and regulation-compliant gambling market, these changes also may lead to some “undesirable structural developments”, which may pose challenges for future regulations.
The primary concern that many experts have risen is that these changes and regulations may lead people to search for other international options where limits are much higher. This results in an increased risk of playing at websites that are, to an extent, shady, or worse – illegal. Benevolent as they may be, how these regulations turn out to work will only be shown by time, but for now, experts are optimistic in their anticipation.
Industry News
CogniPlay Launches New Social Casino Platform
CogniPlay has launched its new software product, which aims to provide a robust online sweepstakes or social gaming platform to its clients. The system is designed to be modular, allowing customers to tailor their brand and offering to what they believe will give them optimal performance.
The CogniPlay system has several key integrations which help to deliver the product, including games integrations with the likes of Pragmatic Play, BetSoft, Mascot Gaming and many more, giving them 100s of games for their clients. There are other integration options for their customers to pick from too, including affiliate programme software, CRM platforms and associated products, KYC, ID verification, Geo-IP systems, Gamification and customer support.
They also have a very long and extensive development pipeline which will see the product offering develop at pace, giving clients an extensive list of options and USPs, and of course giving players a great user experience as a result.
As well as the platform itself the CogniPlay team, due to their considerable experience, also offer a whole host of managed services, with almost a menu that clients can choose from to fill any gaps in their own skillsets or experience.
CogniPlay’s Chief Executive Officer Allan Turner said: “We are very proud to take the CogniPlay product to market and are excited that people who want to start a new social or sweeps brand can get in touch with us to see what we can do for them, or in fact established brands that are unhappy with their existing provider.
“Our underlying principles are that we want to provide the most flexible platform in the space, to enable our clients to create the product they want to have, not for us to dictate the product to them. The two other main areas of focus are that we want to be the most future-proof product on the market with plans for any regulatory or legal changes that may arise in the future, and that we have all the right safeguards in place to ensure that we look after both our clients and players with our responsible gaming setup. This of course means having the right tech and processes in the key areas of KYC, Geo-IP tech, anti-money laundering, fraud, risk assessment and ID verification.”
The post CogniPlay Launches New Social Casino Platform appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
Industry News
IGT Reports First Quarter 2024 Results
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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