Industry News
Ad & Media Agencies Under ED Scanner Over Surrogate Marketing of Gambling Sites
The Directorate of Enforcement (ED) in India has widened its crackdown on Cyprus-based illegal online betting platform Parimatch, placing advertising and media agencies under the scanner for allegedly aiding the company’s surrogate promotions in India.
In extensive search operations on August 12 across Mumbai, Delhi, Noida, Jaipur, Surat, Madurai, Kanpur and Hyderabad, the ED froze funds worth nearly ₹110 crore parked in mule bank accounts suspected of being used for money laundering and layering transactions. Officials also seized digital devices, documents, and more than 1200 credit cards used in the racket.
The investigation revealed that Parimatch routed user funds through a complex network of mule accounts, hawala channels and crypto wallets. In some cases, funds were withdrawn in cash in Tamil Nadu and converted into USDT cryptocurrency through UK-based wallets controlled by Parimatch agents. Other methods involved the use of domestic money transfer agents and rejected payment aggregators who provided backdoor API access for fund collections disguised as e-commerce payments and refunds.
However, investigators said the platform’s aggressive rise in India was fueled not just by these financial networks but also by heavy marketing and surrogate advertising. Despite being an illegal offshore betting operator, Parimatch gained visibility through sponsorship of sports tournaments, celebrity endorsements and brand extensions under “Parimatch Sports” and “Parimatch News.”
Payments to Indian advertising and media agencies handling these promotional activities were allegedly routed via foreign inward remittances, raising questions about the role of advertising companies in enabling the brand’s presence in the country. Officials hinted that several agencies may now face questioning over their involvement in running surrogate ads designed to bypass gambling restrictions.
Roland Landers, CEO of All India Gaming Federation, said: “ED’s action to freeze funds linked to surrogate offshore gambling entities such as Parimatch Sports and Parimatch News is a much-needed step to curb the growing menace of illegal offshore gambling operations that continue to exploit India’s growing gaming user base. Curbing the financial networks of such offshore is very important. We are hopeful that the persistent threat of surrogate advertising of such platforms, often disguised as sports or news content that misleads Indian gamers and normalises illegal gambling will also be stopped by media platforms.”
Landers said: “There is now an urgent need for a central regulatory framework that will bring in uniformity across states, ensure clarity, stability, and a level playing field for compliant indian skill-based operators who adhere to laws and contribute meaningfully to the economy. This will not only help in effectively curbing illegal offshore gambling but also unlock the true growth potential of India’s legitimate, skill-based online gaming industry.”
A research by Skill Online Games Institute states that almost 83% on the spends of the 500 million strong Indian gaming players community is going to offshore gaming platforms. Today only USD 3.2 billion (17%) is coming to Indian gaming platforms.
Amrit Kiran Singh, the founder president of Skill Online Games Institute, said: “We have raised the issue with PMO, MHA FIU besides MIB & MEITY. The government has been discussing this with us but more concrete action needs to be taken to really address this significant issue. While investigations on celebrities and advertising agencies who help promote the illegal platforms will help slow down the promotion of these platforms, the size of the business should indicate that the horse has, already bolted -that this illegal business is already well established and thriving.”
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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.”
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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.”
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