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Could Sun International Hotels And Casinos Be Set To Profit Amid Coronavirus Outbreak?

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As the global economy begins to suffer, many businesses have taken the hit as people all over the world are told to avoid unnecessary travel. In this article, we will be looking into the effects that these restrictions are having on numerous industries around the globe.

The Affect Of Coronavirus On The Global Market

At this moment in time, the outbreak has taken a toll on several national economies as well as the global economy. With the FTSE dropping by 33% with a number of the world’s leading banks cutting interest rates to prevent this. This 33% drop equates to as much as £130bn wiped from the value. This is hugely problematic for not only individuals but small businesses that have had to close down as a result of Covid-19.

However, with several announcements from the US and British government, the stocks have continued to see a downward trend. The Dow Jones index closed 12.9% down after President Trump said that the country may be heading for a recession as a result of the Covid-19 outbreak. Though, as further regulations are put in place to combat the spread of the virus, we may well continue to see the stocks drop dramatically in price as a result.

The National State Of Disaster In South Africa

As the virus begins to spread around the world, the South African president declared a national state of disaster within the country. With this came travel bans for those from the U.S, UK Italy, China, Germany South Korea, Iran and Spain. Though this has been declared in the country, there are several industries such as online gambling in Casinos.co.za and casinos are continuing to thrive. Though this is looking promising at this time, many industry experts suggest that this could be a problem in the near future. However, as several businesses continue to close around the world, Covid-19 could be problematic for a number of these businesses that are currently thriving as people begin looking to spend their money elsewhere.

The Current State Of South African Gambling Giant Sun International

As of Monday south African hotel and casino, Sun International reported that they have seen a 91% jump in the adjusted full-year earnings despite the ongoing issue of Covid-19. However, the company has said that they are preparing for the worst when it comes to the impact that the virus could have on their business. As they also have hotels and casinos in Latin America the company saw income rise by a total of 4% to 17.2 billion. However, with travel bans and the sheer number of Coronavirus cases, this is set to change dramatically.

The Recent State Of Affairs

However, as restrictions tighten and the number of confirmed cases rises, it is the hospitality industry that is set to suffer. As people all over the world are advised to avoid social gatherings and unnecessary travel, the company have seen a drop in the stock price of 13.17%. This is a huge loss in volume for the company, however, it is not unexpected as this is occurring within a huge number of industries as this continues.

Whether you are experiencing a drop yourself or you are looking at the current state of the economy at this time, there is plenty that has been affected by the ongoing Covid-19 pandemic.

Book of Sobek

Hölle Games Releases Book of Sobek

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Hölle Games has released its latest online slot, Book of Sobek. This 5×3, 10 payline slot invites players to dive deep into the magical Nile and enter the aquatic temple of the ancient Crocodile God.

With every spin, the mighty Sobek may rise from the depths to bless the reels. When players manage to uncover 3 or more sacred Books, the temple chambers swing open, granting entry into the Free Games. Within this inner sanctum, a special expanding symbol is chosen; should it land, it will stretch across the reels like the flooding Nile, paving the way for monumental wins of up to 5000x. Featuring both Feature Buy and Fire Stake options, the game is available now for MGA with other markets coming soon.

The post Hölle Games Releases Book of Sobek appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Hub88

Hub88 and Odds88 Enters into Strategic Partnership with MINT

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Hub88 and Odds88 have entered a strategic partnership with MINT, the advanced iGaming platform built on Web3 infrastructure, seeking to expand the new operator’s position at the forefront of iGaming innovation.

MINT is designed as a next-generation gaming ecosystem, set to provide tier-one iGaming and sportsbook expertise with the agility of Web3 technology. Backed by industry heavyweights including Hero Gaming, the platform will bring credibility, technical reliability and a premium user experience to a rapidly evolving market.

Through the partnership, Hub88 will provide MINT with seamless access to its portfolio of more than 12,000 titles, while supporting efficient platform development, streamlined integration and long-term scalability through a robust API. Odds88 will provide the operator’s sportsbook platform, with a highly customisable front-end, access to multiple odds feeds, with coverage of more than 1.5 million sports fixtures, and industry-leading risk management.

By leveraging both brands’ expertise, MINT will be able to focus on delivering consistency across verticals, frictionless onboarding and UX innovation – helping bridge the gap between traditional iGaming standards and emerging technological capabilities.

Ollie Castleman, Managing Director at Hub88, said: “MINT represents a new generation of iGaming platforms that are approaching Web3 with the maturity and high standards the industry expects.

“Alongside Odds88, this partnership aligns with our focus on supporting innovative operator brands that prioritise scalability, reliability and user experience.”

Will Fyler, Managing Director at Odds88, said: “We’re thrilled to partner with MINT along with Hub88 as we raise the game. Our vision to disrupt the industry and deliver a truly forward-facing proposition make this collaboration truly exciting.

“The operator is driven by exceptional talent, and we can’t wait to go live this quarter. Let’s get minted.”

Zak Manhire, CEO at MINT, said: “MINT is all about redefining expectations. We will not only push the limits of Hub88 and Odds88 and challenge what’s possible, but in doing so, we’ll grow together, champion innovation, and deliver a platform that surprises players in the best possible way.”

The post Hub88 and Odds88 Enters into Strategic Partnership with MINT appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ACMA

ACMA: Six Wagering Providers Breach Gambling Self-Exclusion Rules

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The Australian Communications and Media Authority (ACMA) has concluded six more investigations into licensed wagering providers for breaches of self-exclusion rules.

The ACMA investigations found Tabcorp, LightningBet, Betfocus, TempleBet, Picklebet and BetChamps all failed to comply with rules that protect people who registered with BetStop – the National Self-Exclusion Register.

The facts of each investigation are different but the breaches across the investigations included allowing registered individuals to open wagering accounts and to access wagering services, or marketing to registered individuals.

ACMA member Carolyn Lidgerwood said these breaches undermine the protections from gambling harm that self-exclusion offers.

“The national self-exclusion register is designed to help people who are trying to avoid gambling services and stop gambling, but self-exclusion only works if wagering providers follow the rules,” Ms Lidgerwood said.

“These rules have been in place for more than two years and wagering providers should be taking their responsibilities seriously.

“When people decide to self-exclude from online and telephone gambling, they trust the system to protect them from gambling harm. These investigations have found that these companies broke that trust and let people down.

“All licensed wagering providers need to be aware that the ACMA is investigating compliance and enforcing the rules. Gambling companies must have effective systems in place to ensure self-excluded people cannot gamble with them.”

The investigations identified that the providers did not ensure that their underlying systems and processes were operating as intended and failed to adequately identify and protect people who had self-excluded.

In response to these findings, the ACMA has used a range of different enforcement tools available under the Interactive Gambling Act 2001, having regard to the different facts arising under each investigation.

The ACMA has issued remedial directions to each of Betfocus, LightningBet and TempleBet. Under these remedial directions each of the providers will be required by law to commission an independent audit of their systems and implement any resulting recommendations.

This type of enforcement action is corrective and directed at future compliance with the rules. Failure to comply with a remedial direction is an offence and can result in civil penalties.

Tabcorp Holdings paid a penalty of $112,680 and agreed to enter into a court-enforceable undertaking requiring the company to commission a third-party review of its customer verification processes and train staff on their obligations around the Register. If not complied with, such an undertaking can be enforced in the Federal Court, with the Court being able to make such orders as it considers appropriate.

BetChamps was given a formal warning and the ACMA is currently finalising enforcement action for Picklebet.

All contraventions were found to have occurred in 2024. If these companies fail to comply with self-exclusion rules in the future, the ACMA may take stronger enforcement action, potentially including commencement of Federal Court proceedings to seek civil penalties.

The post ACMA: Six Wagering Providers Breach Gambling Self-Exclusion Rules appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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