November 2022 - Page 3 of 5

KSA to investigate illegal affiliate sites targeting self-excluded players

The Dutch Gambling Authority (KSA) has announced that it has initiated an investigation into affiliate marketing sites that target vulnerable consumers.

The KSA said that its attention had been drawn to a number of affiliate sites that had been created with the seeming intent of circumventing regulated offerings and directing consumers to gambling sites that do not abide by Dutch gaming law.

The KSA provided examples of such sites with domain names including phrases such as casinozondercruks (“casino without cruks,”) and casinozondervergunning (“casino without licence”). The Centraal Register Uitsluiting Kansspelen (Cruks) is the Dutch self-exclusion platform that allows players who have experienced harm from games of chance the opportunity to put themselves on a blacklist preventing them from accessing certain sites for a pre-designed time period set by the user.

The KSA has cracked down on affiliates before, taking action against 15 sites in December 2021.

Cruks integration

Und..

November 17, 2022

Codere Online losses widen despite revenue growth

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Online gaming operator Codere Online has announced that losses increased 73% quarter-on-quarter from €6.7m (£5.8m/ $7.0m) to €11.6m in Q3 despite revenue growth on both a sequential and annual basis.

Much of the increased losses can be explained by increased marketing spend. Codere spent €5m more on marketing in Q3 than it did in Q2, with an increase from €19.3m to €24.3m. Other costs remained largely static quarter-on-quarter.

Total revenue increased to €28.9m in Q3 2022, a 51% year-on-year increase, while net gaming revenue increased 54% to €30.6m. This compares with the €27.4m in total revenue and €29.2m in net revenue the company received in the preceding quarter. The increased losses can be explained by revenue not increasing at the same speed as marketing spend.

Moshe Edree, CEO of Codere Online, said this growth was driven primarily by the company’s continued expansion in its critical markets of Mexico and Spain, which make up the majority of the business’ total revenue.

November 17, 2022

MaximBet ceases operations amid “challenging” macroeconomic conditions

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Online gambling operator MaximBet has ceased all operations with immediate effect citing “challenging macroeconomic conditions” and an “increasingly cost prohibitive marketplace”.

MaximBet announced the decision in a message to customers, saying they will have until December 15 to withdraw any funds in their accounts. After this date, any remaining balances will be refunded via check sent to the address on the account.

Players are no longer able to deposit more funds or place net bets, but MaximBet said that it would settle any existing bets in line with its MaximBet House Rules until December 15. At this point, MaximBet said bets will be cashed out at “current fair value market pricing” and player balances will be returned via check.

MaximBet was founded in April of 2021 through a collaboration between sports betting operator Carousel Group and media brand Maxim, supported by a $50m investment from the xSigma subsidiary of Chinese engineering business ZK International.

At the time..

November 16, 2022

Sportradar raises guidance after US segment turns Q3 profit

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Sportradar raised its full-year guidance after it reported a 30.7% revenue increase to €178.8m and said its US segment turned a profit in Q3.

Sportradar reported that revenue from the United States was up by 61.2% to €31.6m.

“This growth was driven by a strong increase of US betting services, driven by cross-selling non-data products to betting operators as well as benefiting from our customers’ growth as a result of a development in the underlying market and new states legalising betting,” the group said.

Rest-of-world betting services was the largest segment of the business, with revenue up 28.4% from Q3 of 2021.

This, Sportradar said, was mostly due to clients using more products in which Sportradar receives a higher revenue share, such as as managed betting services.

“This growth was driven primarily by increased sales of our higher value-add offerings including managed betting services, which increased 84% to €38.2 million, and live odds services, which increased 12% to €27..

November 16, 2022

Codere Q3 revenue hits pre-pandemic levels thanks to strong LatAm growth

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Spain, Italy and Latin America-facing gaming business Nueva Codere’s Q3 revenue increased 47.2% year-on-year to €343.4m (£300.7m/ $357.8m), recovering to pre-pandemic levels.

The robust revenue growth is mainly due to the lifting of Covid-19 restrictions in venues, ensuring a rebound for Codere in almost all markets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 74.8% to €57.4m from €24.6m in the same period the previous year. Codere’s potent performance in Argentina and other Latin American countries is one important factor in this result.

The company’s adjusted EBITDA margin also rose 2.6% to 16.7% in the three-months leading to 30 September compared to the same period of 2021.

Codere country totals

Revenue jumped for Codere in all Latin American markets – most dramatically in Argentina where it increased 146% year-on-year to €98.6m, 122% of the pre-pandemic total. One important factor is that average player spend per visit has incr..

November 15, 2022

Peru igaming regulations ban free bets, mandate supplier registration

Sports Betting News Bookiecity

Peru will ban free bets and demos, as well as mandating registration for suppliers, as part of its effort to regulate online gambling.

The detail comes as part of Peru’s efforts to regulate online betting and igaming. The country’s Congress unanimously voted for a bill to regulate the sectors in July, which was then signed into law in August, coming into effect 60 days later.

The law names the Ministry of Foreign Trade and Tourism of Peru (Mincetur) as the country’s official gambling regulator.

As regulator, the body established a number of rules that will apply to operators in the market, including a ban on free bets and supplier registration requirements.

These rules are subject to a consultation, with stakeholders able to submit their opinions until 2 December.

Free bet ban

The regulations state that operators may not offer any type of remote betting or gaming for free, whether this is for promotional purposes or for education such as through a demo of a game.

If an operator ..

November 14, 2022

NY sets another online sports betting revenue record in October

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New York set a new online sports betting revenue record for the second consecutive month in October, while the state’s handle reached its highest total since March.

Gross gaming revenue from online wagering amounted to $145.7m in October, up 1.67% from the existing record of $143.3m set in September.

Player spending also increased by 22.2% month-on-month to $1.54bn, the highest amount in seven months and the third-highest monthly total since the state launched its legal market at the start of the year.

Read the full story on iGB North America

November 14, 2022

DSWV partners IBIA to protect sporting integrity

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The German Sports Betting Association (DSWV) and the International Betting Integrity Association (IBIA) have signed a Memorandum of Understanding (MoU) in an effort to protect sports integrity.

Under the arrangement, the DSWV and IBIA will work in partnership and coordinate their activities on betting and related integrity issues in Germany.

The two associations will bring together their expertise on activities aimed at promoting a viable regulated sports betting market in the country that has high consumer channelling and related consumer, sports and operator integrity protection measures.

“The partnership between the DSWV and IBIA is another welcome step forward for the German sports betting industry,” DSWV president Mathias Dahms said. “With its many years of international experience and expertise in the field of sports integrity, the IBIA will support us in strengthening the regulated market and protecting it from manipulation.

“We therefore look forward to many joint projects..

November 11, 2022

The US midterms and what they mean for the industry

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This year’s US midterm elections have plenty riding on them for the industry.

iGB has put together a panel of experts to discuss the fallout for US sports betting, online casino and land-based gaming.

California dreaming

A clash of the titans in California looks set to end in disappointment for both sides. There’s still much to discuss, namely whether an immovable force and an unstoppable object can reconcile after a bruising campaign. And more importantly, when will legal betting actually come to the Golden State?

State elections to watch

Developments in several state legislatures could also have a game-changing impact for US gaming regulation. Sports betting and casino hangs in the balance in Georgia, while Minnesota candidate Scott Jensen has voiced support for legal wagering.

Then in Oklahoma, Governor Kevin Stitt may have his second term denied by disputes over tribal gaming.

That’s not even mentioning potential developments in Kentucky, Missouri, and Virginia. In a number ..

November 10, 2022

Genius posts strong revenue growth as US expansion continues

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Sports data business Genius Sports reported $78.7m (£67.5m/€77.4m) in revenue for the three months ending 30 September.

Total group revenue for Genius increased 28% year-on-year in constant currency. On this basis, the business’ three verticals experienced strong growth themselves with betting revenues rising by 13%, media by 41% and sports by 6%.

In adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), the business achieved profitability, reporting $7.7m compared to the $392,000 loss Genius announced the same period the previous year.

“We are pleased to deliver another quarter of growth and group adjusted EBITDA profitability, and we remain on target to achieve our full-year goals set on our investor day at the start of 2022,” said Genius CEO Mark Locke. “This year has been characterised by strong execution as we continue to deploy innovative technology, win new customers and strengthen our key partnerships across the sports, betting, media and broadcastin..

Month: November 2022