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Gaming giants form new body in push for uniform standards and safeguards
February 8, 2022

Gaming giants form new body in push for uniform standards and safeguards

Bookiecity

A host of real-money gambling and gaming businesses have formed the Global Gaming Alliance, a new forum that aims to address shared challenges as the market for real-money, free-to-play and console gaming evolves.

The GGA brings together real-money operators Entain and DraftKings, Facebook parent Meta, and mobile games developers 89Trillion and Habby to create a fair and sustainable industry.

The collective has published a white paper, Responsible Gaming is Everyone’s Business, which calls on gaming companies to follow best practice on issues such as diversity, transparency and player protection. In particular, the white paper highlights a need for greater diversity, more accessible and relatable games for a wider range of players, and controls to ensure play remains sustainable.

The initiative launches with the gaming sector booming. Quoting third party figures, the white paper points out that there were an estimated 2.9 billion players worldwide at the end of last year. Revenue..

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Swedish government scraps deposit cap plans
January 27, 2022

Swedish government scraps deposit cap plans

Bookiecity

Sweden’s government has scrapped plans to impose new restrictions – including a SEK4,000 slots deposit cap – for online casino products.

The Swedish government announced earlier this month plans to reintroduce a number of temporary measures for the gambling sector, including a deposit cap, after a previous SEK5,000 cap had been in place for much of 2020 and 2021.

The cap – alongside other measures such as a SEK100 limit on sign-up bonuses – was set to be made official today (27 January) and come into force on 7 February, but the government instead opted to abandon the plan.

Gustaf Hoffstedt, secretary general of industry association BOS, which met with state secretary Alejandro Firpo earlier today, said the government made the right choice as the cap did not reduce gambling harm.

“It is a wise and well-balanced decision that the government has made,” Hoffstedt said. “Partly based on the general development of the pandemic. Partly, and above all, because precisely these restriction..

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Sands to “wait patiently” for online opportunities
January 27, 2022

Sands to “wait patiently” for online opportunities

Bookiecity

Robert Goldstein, chief executive of resort operator Las Vegas Sands, said the business would continue to “wait patiently” for opportunities to invest in the online gaming sector, rather than jumping in quickly.

During the operator’s investor call following its 2021 results, UBS analyst Robin Farley noted that the valuations of many online businesses have dipped since Sands first expressed its interest in the sector and asked what this meant for its current plans.

Sands chief executive Rob Goldstein said this decline in sector share prices coincided with a recovery for Sands’ core business.

“I think we have said in the past, we have always been interested in digital and all these interests that’s happening in the market,” he said. “But two things are happening at the same time. Our business, I think, is coming back to a stronger place. I think 2022 finally, especially in Singapore, and I think, as well in Macao, we will see that getting better. Our balance sheet speaks for itself an..

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