Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Canada

More UK Casinos Likely to Move into the US in the Near Future

Published

on

 

The UK gambling market may be one of the largest in the industry, but it’s also one of the strictest in world. Over the past few years, the Gambling Commission has placed more restrictions on online casino and betting operators. This has prompted several big brands in the United Kingdom to consider expanding their businesses overseas in the growing US gambling market.

That being said, it’s not only tighter regulations that has caused UK betting and online casino site operators to show interest in the evolving American gambling market. Financial gain is another driving force for UK companies. Ever since 2018 when the US Supreme Court overturned the federal ban on sports betting in America, several states legalized it and began offering both online casino and online sports betting activities. Currently, online casinos are legal in 6 states and online sports betting is legal in 21 states, and more states are expected to legalize some form of online gambling activity in the future.

As gambling becomes legalized throughout America, its popularity grows, as does its revenue. According to the American Gaming Association, although December revenue has yet to be reported for 2021, the US’ annual gaming revenue for 2021 reached $48.34 billion through the end of November. This number crushed the industry’s 2019 full-year record of $43.65 billion. What’s more, this eleven-month period in 2021 tracked 21.3% ahead of the same eleven-month period in 2019.

Long-time UK Brands Compete Over US Market

Wanting a piece of this profitable pie, a number of UK gambling firms have seized the opportunity to break into the growing lucrative market. The primary goal: either to become a valuable business partner with an American gambling giant or to be a takeover target. Notable examples of UK gambling firms that are making their mark in the USA include:

Advertisement

Entain

Entain PLC, the UK owner of popular casino and betting brands Ladbrokes and Coral, entered into a $200 million deal with American hospitality and entertainment company MGM Resorts back in 2018 to capitalise on the newly liberalized sports betting market in the US.

Fast forward a few years later and the latest projected deals reveal that major American sports betting company, DraftKings, sought to acquire Entain for $22 billion in cash and stock in September 2021. However, this offer, as well as a previous offer of $11 billion from MGM Resorts to acquire Entain back in January 2021, were rejected. According to MGM – Entain’s joint venture partner – a DraftKings acquisition of Entain would require the consent of BetMGM due to DraftKings owning a competing business in the US.

Flutter

Also wanting to bolster its assets in the United States, Flutter Entertainment – owner of PaddyPower and Betfair – acquired FanDuel in 2018, one of the leading daily fantasy sports operators in the US at the time. Later, in 2019, Flutter merged with Canadian company The Stars

Group. With the merger, Flutter expanded further into the US, as media giant Fox corporation – which owned a minority stake in The Stars Group – took a 2.6% minority stake in Flutter Entertainment. Moreover, the merger resulted in the creation of the largest online gambling company in the world based on revenues.

Today, Flutter holds a 95% stake in FanDuel, which offers daily fantasy sports, sportsbook, online casino and horse racing products in several states. FanDuel is also the leader in the US online sports betting industry, with 40% of the market share.

Advertisement

William Hill

William Hill, another huge UK brand well known for its online casino and sportsbook, also made headlines in the industry with a major US gambling deal. Instead of partnering with an American company or acquiring one however, William Hill was purchased by American hotel and entertainment company Caesars Entertainment. William Hill agreed to the £2.9 billion ($3.9 billion) takeover bid by the Nevada-based casino operator in September 2020, after previously turning down two rival bids by another US company, Apollo, a private equity group.

Caesars completed its acquisition of William Hill in April 2021, after which William Hill was delisted from the London Stock Exchange. Later in September of that same year, Caesars sold all of William Hill’s non-US assets to 888 Holdings for £2.2 billion ($2.9 billion). In the US, William Hill sportsbooks were rebranded to Caesars Sports.

What is in Store for 2022

This year, it is likely that more deals will occur between the two nations as the world slowly comes out of the clutches of the pandemic and more US states pass laws to legalize gambling within their borders.  Both UK gambling operators and US gambling operators have plenty of benefits to offer the other.

Powered by WPeMatico

Advertisement
Continue Reading
Advertisement

Alcohol and Gaming Commission of Ontario (AGCO)

Soft2Bet strengthens integrity monitoring with IBIA membership in Ontario

Published

on

soft2bet-strengthens-integrity-monitoring-with-ibia-membership-in-ontario

 

Soft2Bet, a leading casino and sportsbook platform provider, has joined the International Betting Integrity Association (IBIA) and activated its membership in Ontario, Canada, following its licensing in the Canadian province.

Soft2bet obtained its Certificate of Registration from the Alcohol and Gaming Commission of Ontario (AGCO) at the end of March, where the company’s Ontario-focused brand Tooniebet.com will now feed into IBIA’s world-leading sports betting integrity monitoring platform before worldwide implementation in the coming months.

IBIA includes over 50 of the world’s leading sports betting and gaming companies, who operate over 125 sports betting brands. Soft2Bet’s decision to join the association further strengthens its own internal betting integrity protocols and IBIA’s position as the world’s leading sports betting integrity monitoring body.

David Yatom Hay, General Counsel at Soft2Bet, commented: “Soft2Bet is delighted to be joining the IBIA as we strengthen our own betting integrity monitoring processes and play our part in furthering the IBIA’s long-standing work on this key issue. Ontario is a world class iGaming jurisdiction; it will be the first market where we will implement our IBIA membership and we look forward to deploying the monitoring infrastructure worldwide in all the other markets in which we operate.

Advertisement

Khalid Ali, CEO of IBIA, said: “Soft2Bet is a very welcome addition to IBIA, further strengthening our position in the Ontario market. The operator’s decision to join IBIA demonstrates its desire to utilise the best integrity protection available for its sportsbook product. The association is delighted to be able to integrate Tooniebet within our integrity monitoring system and looks forward to working closely with Soft2Bet to maintain the high integrity of its sportsbook.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators and for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members generate more than $300bn in annual betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sportsbetting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s Q1 2024 report detailed 56 alerts during the quarter. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

Advertisement
Continue Reading

British Columbia Lottery Corporation

SCCG Management Signs Contract with British Columbia Lottery Corporation

Published

on

sccg-management-signs-contract-with-british-columbia-lottery-corporation

 

SCCG Management has signed a contract with the British Columbia Lottery Corporation (BCLC), the B.C. Crown corporation which conducts and manages commercial gambling in the province, including lotteries, casinos, and online gaming. This partnership aims to undertake a comprehensive assessment and strategic enhancement of BCLC’s diverse operations.

The work between SCCG and BCLC will involve a thorough review of technological infrastructures, strategic market positioning, and the integration of various gaming modalities. SCCG’s extensive expertise will be pivotal in harmonizing BCLC’s online and physical gaming experiences.

Stephen Crystal, Founder and CEO of SCCG Management, said: “Our collaboration with BCLC represents a remarkable opportunity to push the boundaries of innovation within the gaming industry. We are committed to deploying our resources and expertise to enhance BCLC’s operational efficiencies and customer engagement strategies. It’s an honor to partner with an organization that has a robust impact on the community through its support of public initiatives.”

Continue Reading

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

on

agco-requires-ontario-gaming-operators-to-stop-offering-wba-bets-due-to-integrity-concerns

 

The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Advertisement

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania