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Norway Announces New Distribution of Norsk Rikstoto Profits
The Norwegian Ministry of Food and Agriculture has established new regulations, formalising the revenue share received by the different national equestrian organisations from Norsk Rikstoto.
Under the new rules, the profits distributed to these various bodies will be formalised, with each organisation receiving a set percentage of the proceeds. This differs from the repealed regulations in which the ministry had far more discretion over where the profits were distributed.
Gambling on horse racing in Norway is supervised by the state-owned monopoly of Norsk Rikstoto, which collects all legal pari-mutuel bets on the vertical. The profits from this company are then shared among a variety of Norwegian equestrian organisations in order to support the sport.
The new regulations outline that the Norwegian Trotting Association, the national harness racing association, is to receive 82% of the profits. The ministry says that the grant will be used to support the development of Norwegian harness racing, horse breeding and keeping. This will be accomplished through grants to racetracks, prizes for those working in the industry, support for voluntary activity and investments in training facilities.
The ministry also say that Norwegian Gallop – the country’s horse racing association – will receive 9.2% of the profits from horse racing bets. This horse racing authority will be directed to use the money in a similar way to the Norwegian Trotting Association, by investing money in infrastructure and individuals involved in industry.
The final portion of the profits, amounting to 5.8%, will be distributed to the Norwegian Horse Centre, a foundation that aims to promote the quality of horse keeping and breeding. The ministry said it will provide further guidance to the organisation about how the use the funds.
The remaining 3% of the proceeds are to be awarded to equestrian bodies beyond the ones specifically listed by the ministry. In order to qualify, the organisation must be a non-profit that promotes Norwegian horse breeding, keeping and sports, as well as being in line with the state aid regulations.
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
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Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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