Connect with us

Bally's Corporation

Leading Online Operators Launch Principles for Responsible Gaming

Published

on

 

The largest online gaming operators in the country have come together to agree to the first industry-led responsible gaming standards. The 12-point pledge is a commitment to principles of responsible online gaming and are recommended as the principles for an industry benchmark.

The announcement coincides with this month’s designation as Responsible Gaming Education Month by the American Gaming Association.

The collaboration includes Bally’s Corporation, BetMGM, DraftKings, Entain, FanDuel, and MGM Resorts International.

The 12 principles are derived from four core attributes:

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

a) We participate only in legal markets that provide consumer protections.
b) We strive to instil responsible gaming culture throughout our respective businesses.
c) All forms of online gaming should be a fun activity and enjoyed as a form of entertainment.
d) While the vast majority of individuals can enjoy online gaming in a responsible way, some individuals need additional tools and support related to their gaming activities.

The 12 principles, set out in the appendix, include a commitment to take active steps to prevent underage and excluded individuals from participating in any form of gaming. Operators commit to providing customers with informed choices about gaming through easily understood responsible gaming tools, and all entities will continuously conduct research to track the impact of this collaboration.

Further, the principles include the adoption and effective promotion of a unified nationwide responsible gaming toll-free helpline, and socially responsible advertising which avoids imagery that might entice minors in its marketing content.

Other provisions call for “a shared responsibility approach to addressing problem gaming” and a commitment “to working with policy makers, academic experts and researchers, problem gaming treatment organizations, advocacy groups and partners” as well as customers to promote responsible gaming and address problem gaming.

The collaboration also commits to employee training and continuously monitoring operators’ respective responsible gaming programs and initiatives to ensure their compliance with applicable standards.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Bally’s is proud to partner with all of the participating operators. We are committed to the 12-point pledge and it’s Bally’s and the industry’s responsibility to prevent underage gaming and provide education and safeguards,” said Robeson Reeves, President of Interactive at Bally’s Corporation.

According to Joshua Jessen, Chief Legal Officer at BetMGM, “Responsible gaming is at the forefront of everything we do at BetMGM. While we operate in a highly competitive industry, we are proud to stand together with our colleagues to adopt these important principles. Creating a consistent standard of responsible gaming measures across the board greatly strengthens our collective commitment to our customers, employees, and the communities where we operate. We look forward to building on our work into the future.”

DraftKings’ Senior Director of Responsible Gaming Chrissy Thurmond explained, “Essential to promoting safer play is a framework for operators to guide them in responsible gaming. DraftKings is pleased to be a part of this landmark effort that has culminated in the adoption of 12 responsible gaming principles across the participating operators – and that will benefit consumers around the United States.”

Martin Lycka, Entain’s Senior Vice-president for American Regulatory Affairs and Responsible Gambling, commended the collaborators for recognizing a national need and committing their respective organizations to action. “These principles mark an important milestone, and I am delighted other leading operators have joined us in this commitment to responsible gaming in the rapidly growing U.S. markets, as responsibility sits at the heart of our business. It’s truly a first for this market and a significant step for addressing problem gaming on a consistent basis.”

He added, “We have the research, the data, the partners—all the tools to establish an effective nation-wide code of responsible gaming principles. And we hope our industry and state regulators will join us in advancing these principles,” he said. “Our patrons deserve it.”

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

FanDuel’s Adam Warrington, Vice President, Responsible Gaming, added, “FanDuel is committed to collaborating and partnering with every participating operator, and our entire industry, on these 12 principles of responsible online gaming. Collectively, we have the privilege and opportunity to set the standard for what it means to be a responsible operator by leading from the front and collectively enabling our customers to enjoy our products, responsibly.”

Stephen Martino, Senior Vice President and Chief Compliance Officer, MGM Resorts, said, “Responsibility has long been a core value at MGM Resorts and guides our leadership in the industry, and it’s vital for responsible gaming to be reflected in everything that bears the MGM name. Having the industry come together with a unified approach and standards puts the best interests of our guests, customers, and their families at the forefront. It’s the right thing to do for our customers, our industry and our businesses.”

Industry Collaborators’ Statement and 12 Principles for Responsible Online Gaming

The six market-leading operators endorse the following statement and 12 principles for responsible online gaming:

We, the signatories, pledge to observe the following responsible gaming principles across all our online gaming related activities and to encourage all affiliated third parties, including but not be limited to content providers, social media influencers, social media accounts and brand ambassadors, to also adhere to these principles:

  1. We take active steps to prevent underage and excluded individuals from participating in any form of gaming within our products;
  2. We help patrons make informed choices about their gaming. We provide easy to read information about how to play, provide responsible gaming tools including information on how to access and use such tools; and provide other related information, including information about a toll-free helpline, as well as resources for those who are seeking support related to their gaming;
  3. We support the adoption and effective promotion of a unified nationwide responsible gaming toll-free helpline;
  4. We abide by applicable standards of socially responsible advertising, including compliance with all applicable state and federal laws and standards, and we avoid using minors in marketing content. We only use actors and company representatives in advertising and social media relating to gaming who reasonably appear to be above the legal age to gamble;
  5. We provide our customers with tools to play responsibly, including but not to limited to self-exclusion tools, financial and other account limits as well as customer betting histories;
  6. We abide by all self-exclusion rules and regulations, and provide resources to individuals who make the choice to self-exclude;
  7. We encourage patrons to set a budget that they can afford to and never play beyond their means, and not view gaming as a means to financial success;
  8. We encourage patrons to set time and financial limits on their gaming and stick to them, not to chase losses;
  9. We believe in a shared responsibility approach to addressing problem gaming and are committed to working with policy makers, academic experts and researchers, problem gaming treatment organizations, advocacy groups, and our partners as well as with our customers to promote responsible gaming and address problem gaming;
  10. We support funding for evidence-based problem and responsible gaming research;
  11. We provide all applicable employees with responsible gaming training upon hire and regularly thereafter, in order to embed responsible gaming culture in our businesses and
  12. We are committed to evaluating and continuously monitoring our respective responsible gaming programs and initiatives.

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Bally's Corporation

Bally’s Appoints New Executive VP and Chief Financial Officer

Published

on

bally’s-appoints-new-executive-vp-and-chief-financial-officer

 

Bally’s Corporation announced that Mira Mircheva has been appointed as Executive Vice President (EVP) and Chief Financial Officer (CFO), subject to regulatory approvals. Marcus Glover, Bally’s current CFO, has been appointed to serve as Bally’s Executive Vice President, Global Operations Group.

Ms. Mircheva is a senior executive in the hospitality and gaming industry with more than 25 years of experience in finance. Most recently, Ms. Mircheva served as Chief Financial Officer of The Queen Casino & Entertainment. Prior to that, she was Partner & Research Analyst at Standard General. Ms. Mircheva was previously a Senior Research Analyst at Perella Weinberg Partners Asset Management. Before that, Ms. Mircheva worked as a Vice President in credit principal investing at Goldman Sachs. She joined the Goldman Sachs Investment Banking Division as an analyst in 2001. She is currently a member of the Board of Directors of White Energy and Intralot S.A.

“On behalf of the Board of Directors and the entire leadership team, I am thrilled to welcome Mira to Bally’s. She brings considerable experience to this role and her experience as CFO of The Queen Casino & Entertainment will be invaluable as we integrate Queen into Bally’s,” Robeson Reeves, CEO of Bally’s, said.

“Mira’s experience as a CFO and strong financial acumen and operational experience make her the right person to help Bally’s continue to grow and achieve our long-term financial goals,” Soo Kim, Chairman of Bally’s Board of Directors, said.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“I am thrilled to be joining Bally’s at such an exciting time for the Company and to leverage my experience with Queen to continue to strengthen our financial position by optimizing our cost structure, enhancing the efficiency of our operations and leveraging the collective experience of our Board and my newest colleagues across the globe,” Ms. Mircheva, Bally’s incoming EVP and CFO, said.

The post Bally’s Appoints New Executive VP and Chief Financial Officer appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Bally's Corporation

Bally’s Completes Transactions with Standard General

Published

on

bally’s-completes-transactions-with-standard-general

 

Bally’s Corporation has completed the previously announced transactions with Standard General and its affiliates including The Queen Casino & Entertainment, a regional casino operator majority-owned by funds managed by Standard General.

Pursuant to the terms of the merger agreement, Bally’s and Queen combined, with Queen shareholders receiving consideration of 30.5 million shares. Thereafter, the Company paid cash consideration of $18.25 per share to holders of 22.8 million of the Company’s outstanding shares. The cash merger consideration was financed by the issuance of $500 million in senior secured notes due in 2028 provided exclusively by funds managed by Apollo, along with Bally’s available funds on hand and its available funding sources.

Bally’s stockholders owning 17.9 million outstanding shares elected to retain their Bally’s stock by means of a rollover election and continue as stockholders of Bally’s. As a result, 48.4 million shares of common stock are now outstanding upon completion of the merger transactions. Warrants representing the right to purchase up to 11.6 million shares of Bally’s common stock also remain outstanding.

Shares of Bally’s common stock trading under the “BALY.T” ticker which remain outstanding as a result of the rollover election will continue trading on the New York Stock Exchange and revert back to the “BALY” ticker.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Bally’s Completes Transactions with Standard General appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Bally Bet Sportsbook app

Bally’s Interactive Launches Bally Bet Sportsbook App in Tennessee

Published

on

bally’s-interactive-launches-bally-bet-sportsbook-app-in-tennessee

 

Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland.

Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.

The newly introduced Parlay Zone, available on the app’s homepage, allows users to select and customize daily pre-built parlays from a variety of popular sporting events. Additionally, users can access the Picks tab on the homepage to gain valuable insights from industry-leading influencers through video clips. Picks, powered by Wager Games, also offers an extensive selection of pre-built and customizable parlays, ensuring a personalized and engaging betting experience.

As an official sports betting partner of the Nashville Predators, Bally Bet has actively engaged with the team’s fan base running social promotions like the “Goals for Gear” official Predators jersey giveaway on the @BallyBet Instagram channel, Bally Bet has fostered a strong connection with the Predators’ loyal supporters. With the app’s launch, fans can anticipate even more exciting in-arena and social activations throughout the NHL season.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
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