Wynn poaches IGT’s Satre

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Wynn poaches IGT’s Satre Subscribe to the iGaming newsletter Philip Satre has stepped down as chairman of the board at International Game Technology (IGT) to become the new vice-chairman at Wynn Resorts, which has also reached a settlement with its largest shareholder, Elaine Wynn.IGT confirmed that Satre had resigned as a director with immediate effect.He joined the IGT board in January 2009 before becoming an independent chairman in December 2009 and then chairman of the board in April 2015.Vice-chairman Lorenzo Pellicioli will lead the IGT board on an interim basis until its next meeting, when a new chairman will be elected.Pellicioli thanked Satre for “his dedicated service and many important contributions” and added: “He successfully guided the company through a transformational merger that created the largest gaming company in the world.”Satre will succeed D. Boone Wayson, who will retire later this year.“I am proud of our accomplishments and am pleased that someone as outstanding as Phil will succeed me in the role as chairman,” Wayson said.Elaine Wynn said: “I have long respected Phil as a leader in the gaming industry and am confident that his addition to the company’s leadership team, coupled with the plans laid out by management, will bring the company tremendous success in the years to come.”Under the $5m (£3.9m/€4.3m) settlement with Elaine Wynn, who has just under nine per cent of the casino operator’s shareholding, she will not be allowed to significantly increase her stake, nominate directors or be part of any groups seeking a takeover of the company until 2020.The arrangement concludes a battle with the company that started when the ex-wife of former-CEO Steve Wynn was kicked off the board in 2015.Steve Wynn resigned in February after allegations emerged of sexual harassment. In March, he sold his stake in Wynn Resorts for $2bn. An investigation into allegations of sexual harassment at Wynn Resorts is set to be published by Boston regulators in the coming weeks.In separate news, IGT last week revealed how a plethora of sports betting deals in the US had helped to drive a 9% year-on-year increase in operating income in the second quarter of 2018. 6th August 2018 | By contenteditor Satre leaves IGT for Wynn Resorts as casino operator reaches $5m settlement with Elaine Wynncenter_img Topics: Casino & games Strategy Regions: US Casino & games Email Addresslast_img read more

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Betradar’s Paolo Personeni at ICE London 2019

first_img We spoke to Paolo Personeni, MD of MTS at Sportradar at ICE London 2019 to discuss the future of these services and their successes in the last year. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Marketing & affiliates Sports betting Betradar’s Paolo Personeni at ICE London 2019 We spoke to Paolo Personeni, MD of MTS at Sportradar at ICE London 2019 to discuss the future of these services and their successes in the last year, as well as their ambitions at the annual ICE event. Personeni also discussed other areas of development for the product, including how it addresses some of the largest challenges facing operators. He says some of the key objectives for the coming year include improving effective and efficient partnerships, as well as adding to their risk management products. 1st May 2019 | By Josephine Watson Marketing & affiliates Email Addresslast_img read more

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Spelinspektionen looks to ban betting on yellow cards

first_img Tags: Mobile Online Gambling OTB and Betting Shops Spelinspektionen looks to ban betting on yellow cards Topics: Legal & compliance Sports betting Sweden’s gambling regulator Spelinspektionen has put forward an amendment to the country’s gaming rules that would see operators prohibited from offering odds on rule violations, such as a yellow card in football or a fault in tennis. 14th January 2020 | By contenteditor Subscribe to the iGaming newsletter Email Address Legal & compliance Regions: Europe Nordics Sweden AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sweden’s gambling regulator Spelinspektionen has put forward an amendment to the country’s gaming rules that would see operators prohibited from offering odds on rule violations, such as a yellow card in football or a fault in tennis.The draft regulations, for which a consultation has been launched, aims to improve anti-match fixing controls by removing any potential reward for athletes that commit certain acts for match-fixing purposes. It would ban betting on incidents such as cards, penalty kicks, disqualifications and other punishments that may be handed out to teams or players in the course of an event.This, in turn, would also ensure that fixers do not attempt to influence individual athletes, Spelinspektionen director general Camilla Rosenberg explained.This new restriction on betting markets was one of three new rules the regulator aims to bring in. It also aims to ban betting that a team or athlete will lose a match or tournament, and a prohibition on bets on the individual performance of an athlete aged under 18.“Spelinspektionen believes that this should be seen as a first step in the approach to counteract manipulation of [sporting] results through regulation,” the regulator explained.“This, together with other measures such as collaboration with the Match Fixing Council, the gaming companies’ own work on monitoring the manipulation of results and the sport [governing bodies’] own work to prevent and detect manipulation, will counteract match fixing.”The new controls that have been put forward mark a significant climb-down from the regulator’s original plans. It revealed that it had originally been considering more extensive restrictions, such as a directory of competitions and events on which operators would be permitted to offer odds.This would have been in place for the sports considered at greatest risk from match fixing, including football and tennis. However it ultimately reduced the scope of the new controls over concerns that it could lead to players shifting to unlicensed gaming sites.The consultation on the new controls runs until 14 February, after which Spelinspektionen will take into account feedback and consider any changes to the proposed regulations. However, Rosenberg noted that if further restrictions were necessary, the regulator would not hesitate to bring them into force.The proposal has already prompted a sceptical response from the International Betting Integrity Association (IBIA), which has around 50 retail and online sports betting brands feeding into its alerts system, including a number of high-profile Swedish brands. Chief executive Khalid Ali said that while the integrity monitoring body was keen to work with regulators on any initiatives to tackle betting related match fixing, it was difficult to see how the new regulations were either justified or effective.“There is a range of evidence that the markets proposed to be prohibited are not the markets that corrupters primarily focus on as liquidly levels are too low and illicit activity more easily identified,” Ali explained. “Furthermore, corrupters often seek to place bets outside of the territory where the event is corrupted, notably on the unregulated market in Asia, making Swedish market restrictions ineffective.”Ali warned that the restrictions could only serve to prevent Swedish consumers from accessing well regulated products, and ultimately hinder the goal of channelling players towards legal forms of gambling.last_img read more

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Nevada sets sports handle record for 2019

first_img Email Address Finance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports bettors in Nevada wagered a record $5.32bn, up 6.1% from 2018’s previous record.The state’s casinos took in a total of $12.03bn in revenue for the year, up 1.0% year-on-year and the highest figure since 2007.In total, casinos made $329.1m in revenue from sports betting, up 9.5%.Nevada continued to lead all states in sports betting handle and revenue, ahead of New Jersey’s $299.4m of revenue on a handle of $4.58bm.American football was the most popular sport for betting during the year, with players staking $1.87bn and casinos taking in $122.4m, up19.7% year-on-year. Basketball followed with revenue of $94.4m on stakes of $1.68bn, while players staked $1.12bn on baseball, on which casinos took in $57.2m.Read more on iGB North America. Sports bettors in Nevada wagered a record $5.32bn, up 6.1% from 2018’s previous record. Subscribe to the iGaming newslettercenter_img Topics: Finance Sports betting Nevada sets sports handle record for 2019 30th January 2020 | By Daniel O’Boyle Regions: US Nevadalast_img read more

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Net Gaming sees revenue and profit drop in ‘challenging’ 2019

first_img Subscribe to the iGaming newsletter Finance Net Gaming sees revenue and profit drop in ‘challenging’ 2019 Net Gaming Europe has reported a year-on-year drop in revenue and profit in 2019, with chief executive Marcus Teilman saying the introduction of new local regulations across Europe had made for a challenging year for the online gaming affiliate business.Revenue for the 12 months through to 31 December 2019 amounted to €14.3m (£12.0m/$15.4m), down 23.1% from €18.6m in the previous year.Net Gaming said that this decline was primarily due to regulatory effects and an accelerated transition to revenue share, which had a negative impact on revenue.“2019 has been incredibly challenging and characterised by regulatory effects in the European market,” Teilman said. “The major change in the business model to an increased proportion of revenue share has had a negative impact on our revenue in 2019.“The main purpose of changing the business model is to build a more stable revenue base with a larger share of recurring revenue. We estimate that the increased proportion of revenue share reduced our revenue by €1.1m to €1.5m, which contributed to 25-35% of the revenue decline in 2019.”Looking at costs, personnel expenses climbed 15.6% year-on-year to €3.7m, but other external costs were down 6.5% to €2.9m. Depreciation and amortisation costs rocketed by 112.0% from €343,000 to €727,000 for the year.Such was the impact of the revenue decline that earnings before interest, tax, depreciation and amortisation (EBITDA) fell 32.8% to €8.4m, while operating profit was also down 37.7% from €12.2m to €7.6m.Profit before tax slipped 36.9% to €5.3m, and after paying €380,000 in tax for the year, profit amounted to €4.9m, down 37.2% from €7.8m in 2018.“In no way am I pleased with our earnings development, but I am firmly committed to returning to growth in all parts of the business during 2020,” Teilman said. “I believe that our EBITDA level bottomed out in 2019 and that it will increase in the coming year.“During the year, we underwent an important change through the launch of our new technical platform and our establishment of a competent and more forward-looking organisation. In 2020, I look forward to being able to take advantage of all the interesting growth opportunities we have identified.”In terms of Net Gaming’s performance in the fourth quarter, revenue fell 29.8% year-on-year to €3.3m, with the business putting this down to a wave of local regulation in Europe and a continuing transition from cost-per-acquisition to revenue share.Operating costs were up slightly in the quarter, but, primarily as a result of the drop in revenue, EBITDA fell 42.4% to €1.9m, while operating profit slipped 41.9% to €1.8m.Net Gaming also saw Q4 profit before tax fall 58.0%, with profit after tax coming in at €610,000, down 60.0% from €1.5m in the same period in 2018.“The end of 2019 saw us stabilising our EBITDA in the fourth quarter, despite sequentially lower revenues,” Teilman said. “During Q4, we made a strategic decision to invest in fewer but stronger products, and as a result, we have appointed a number of brand managers in order to create clearer control, focus and responsibility for each individual site’s results.“This initiative is at an early stage, but we are already seeing results and several sites are moving in the right direction, with increased traffic and conversion rates.” 21st February 2020 | By contenteditor Email Addresscenter_img Topics: Finance Marketing & affiliates Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Net Gaming Europe has reported a year-on-year drop in revenue and profit in 2019, with chief executive Marcus Teilman saying the introduction of new local regulations across Europe had made for a challenging year for the online gaming affiliate business.last_img read more

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Let the Games begin… but in slow motion only

first_img Subscribe to the iGaming newsletter Let the Games begin… but in slow motion only After years of chaos and legal disputes, the German federal states have finally decided to open up the internet not only for sports betting, but also for virtual slot machines, casino table games and poker. Wulf Hambach (pictured left) and Yannick Skulski (below) look at the finer detailsThe new Interstate Treaty on the Revision of Gambling Legislation in Germany (Glücksspielneuregulierungsstaatsvertrag – GlüNeuRStV), scheduled to go into force on 1 July 2021, marks a turning point for the regulation of online gaming in Germany. In addition to online sports betting, virtual slot machines, online poker and online casino table games with a bank holder (such as blackjack or roulette) will also be regulated for the first time.The current draft, to be approved by the minister-presidents of the 16 federal states on 12 March 2020 and ratified by 16 state parliaments, regulates in section 4, paragraph 4, “General provisions on the granting of licences”: A licence for public games of chance on the internet may only be granted for the self-distribution and brokerage of lotteries, the organisation, brokering and self-distribution of sports bets and horse race bets as well as the organisation and self-distribution of online casino games, virtual slot machine games and online poker. Otherwise, the organisation and brokering of public games of chance on the internet is prohibited. Paragraph 5 follows: “Lotteries, sports betting, online casino games, online poker and virtual slot machine games shall only be offered via the same internet domain if an independent and visually separate segment is set up for each of these games of chance; (…) The individual segments must not advertise the games of chance in the other segments and must not otherwise prompt users to play in the other segments. After participation in a game of chance in one segment, participation in another segment is permitted at the earliest after one minute has elapsed; during this time, participation in free or demo games must not be possible and information must be displayed on the risks associated with, and the prevention of, gambling addiction, which must be described in more detail in the social responsibility plan, as well as on counselling offers, which the player must confirm before participation in the other segment. (…) In the case of a transfer of amounts between sub-accounts, these amounts can only be used for games after a waiting period of one hour.These restrictions are just one example of many more which have not been included in regulatory frameworks of other EU member states. So there are a lot of world premieres at one time, which the future federal gambling regulator of the German states has to monitor.This yet-to-be established supervisory authority will be responsible for issuing most of the licences and for monitoring operators. In order to ensure a high level of player protection, the federal states intend to introduce a cross-provider deposit limit, an activity file to prevent parallel play across providers and a blocking file.The new authority will run these systems.In this context, Article 2 of the current draft stipulates the Joint Gaming Authority of the federal states and regulates in Section 1 that “In order to fulfil the tasks of gambling supervision, in particular in the area of the internet, the federal states will, with effect from 1 July 2021, establish a “rechtsfähige Anstalt des öffentlichen Rechts/AöR” (a public-law institution with legal personality).In Section 5 the “Tasks of the Institution” are described as follows:(1) The Institution will act as a licensing and supervisory authority for gambling services that are operated across the borders of federal states, in particular on the internet, within the scope of the responsibilities defined in this Interstate Treaty.(2) In addition, the Institution will monitor developments in the gambling market and in research relating to gambling.(3) The Institution shall promote scientific research in connection with games of chance. The Institution may commission studies and expert opinions in this respect.(4) The Institution will support the federal states in the cooperation of their gambling supervisory authorities and in the cooperation of the gambling supervisory authorities of the federal states with those of other countries. While opening up the internet as a distribution channel is a step in the right direction, the legislative objectives of the federal states can only be achieved if German players also play with operators licensed in Germany. To achieve this, it is just as essential to ensure an attractive gambling offer as it is to leave room for future developments. In view of the fact that the treaty is concluded for an indefinite period and can be terminated on 31 December 2028 at the earliest, one can only hope that the federal states will leave themselves sufficient flexibility to react to new developments in the gambling market. Furthermore, the new ‘super-authority’, the cross-provider deposit limit and the activity file all raise critical factual and legal questions and bear the risk of a ‘blackout’ which could bring Germany’s entire legal online gambling market temporarily to a standstill.  Restricting the games For online sports betting, the treaty stipulates a significant reduction in the number and types of in-play bets. In future, only live bets on the final result will be allowed. Bets on the next goal, set or a similar component of a final result will only be allowed for sports where the frequency of such events is relatively small (for example football, hockey, ice hockey or volleyball).In-play bets on the next score in high-scoring sports such as basketball could therefore be prohibited.Concerning virtual slot machines, the maximum stake is limited to €1 per spin. The spin duration must be at least five seconds and an auto-play function is prohibited. It will also be forbidden to play multiple virtual slot machines at the same time. In addition virtual slot machines cannot be called “online casino games” as this term is reserved for table games with bank holders, such as blackjack or roulette.A spin duration between two and three seconds is the usual rule. The introduction of a minimum spin duration of five seconds in land-based slot machines has already led to considerable discontent among the players.In addition, auto-play functionality is popular with players. This has been taken into account in Schleswig-Holstein, and instead of a general ban a consumer-friendly and consumer-protective regulation has been introduced. Here, auto-play is permitted, provided that the player determines before the start of the game at what amount of loss the auto-play will automatically end.In the case of online poker, the permit will set mandatory limits on the minimum stake per hand, the maximum amount a player may have at a table and the maximum amount of a buy-in for the participation in a poker tournament. Playing several games at the same time is also prohibited, in principle. However, the supervisory authority can permit playing at up to four tables. Concerning online casino table games, the scope of the licence is already limited. In fact, the licences for online casino table games are limited to the territory of one federal state (Hesse) in principle.Whether private operators can obtain a licence for the organisation of online casino games at all depends on the respective federal state. According to the State Treaty, the federal states have two options for granting licences for online casino games.They can either grant licences to the state-owned operator, who then has the opportunity to form a joint venture with a private operator (though the state-owned operator has to hold the majority stake in the new company). Alternatively, the federal state can grant licenses to private operators.However, the number of online licenses is limited to the number of land-based licenses. Controlling the player Probably the most contentious regulation of the new treaty is the introduction of a monthly cross-operator deposit limit of €1,000 per player.  Under the new law players can only deposit €1,000 per month in their player accounts. These limits apply to all licensed online operators – but not land-based operators or the state-owned lotteries.  Again, one can hope that the new authority will install an efficient and speedy ‘high roller exemption procedure’ which protects the ordinary player on the one hand and provides the high roller with an attractive limit to prevent him turning to the black market…Conclusion  Let the games begin… but in slow motion only: Germany’s new gambling law contains many restrictions that slow down the speed of the game and the player’s ability to shift from one game to another. Naturally, the online gambling industry is not amused and foresees significant growth of the black market.But… Looking back to the past EU reforms of online gambling in the states of France, Italy or Spain, one can expect the same for Germany. New igaming rules in this area always start with too many restrictions on too few games – from the operators’ and players’ perspectives! One can compare this cautiousness in defining new online gambling rules with a ‘helicopter mother’ who would like to define the rules for her son’s football game. She’d try to avoid other players hurting her little one by banning any form of body contact during a match.But after a while the kid would realise that a risk-free game isn’t much fun and that certain “higher-risk-accepting rules” would need to be implemented. Anyhow, let the games begin first…Wulf Hambach is one of the founding partners of Hambach & Hambach, and one of the industry’s foremost legal experts on the German gambling market, while Yannick Skulski is an associate at the same firm. Casino & games Topics: Casino & games Legal & compliance Sports betting After years of chaos and legal disputes, the German federal states have finally decided to open up the internet not only for sports betting, but also for virtual slot machines, casino table games and poker. Wulf Hambach and Yannick Skulski look at the finer detailscenter_img 4th March 2020 | By Stephen Carter Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

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EASA: EGBA code a blueprint for gambling marketing controls

first_imgLegal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Marketing & affiliates EASA: EGBA code a blueprint for gambling marketing controls Subscribe to the iGaming newsletter Email Address A gap analysis conducted by the European Advertising Standards Alliance (EASA) claims that the European Gaming and Betting Association’s (EGBA) code of conduct for gambling advertising could significantly enhance marketing regulations in a number of European markets. Tags: Mobile Online Gambling Regions: Europe A gap analysis conducted by the European Advertising Standards Alliance (EASA) claims that the European Gaming and Betting Association’s (EGBA) code of conduct for gambling advertising could significantly enhance marketing regulations in a number of European markets.The analysis, which was commissioned by EGBA, went as far as saying that the code was stricter and more comprehensive than some country-specific controls.The code, the first pan-European guidelines for gambling advertising, was developed in the context of the EU EU Audio Visual Media Services Directive and aims to strengthen player protection, in particular the protection of minors.As such it mandates when adverts can be broadcast, and recommends the use of age-screening and age-gating tools to ensure gambling promotions are not seen by underage social media users and viewers.The EASA’s gap analysis revealed that 13 of 15 European countries assessed had no gambling-specific regulatory or self-regulatory requirements, with no self-regulatory controls in three. Only 12 had actually developed a framework of voluntary and mandatory controls, it found.Therefore it concluded that EGBA’s code could be implemented in 9 of 15 countries, should local regulations be amended to include its provisions.With only six countries having set specific legislative rules for protecting minors from exposure to gambling advertising, these countries could benefit from the code’s implementation, EASA added. The lack of social media regulations was even more pronounced, with no specific requirements set in 13 of the 15 countries assessed.Furthermore, there were no measures for sponsorship in 11 of the 15, with five countries even failing to mandate responsible gambling messaging. Customer complaints, EASA noted, tended to concern bonuses and the portrayal of gambling, both of which were addressed in the code.“This initial analysis demonstrates how EGBA’s code can already strengthen responsible advertising measures in a number of European countries,” EGBA secretary general Maarten Haijer commented.“We’re very pleased that EGBA members are committed to applying the code and demonstrate their commitment to responsible advertising,” he continued. “With its dedicated measures for social media and minor protection, the code will drive industry standards for responsible advertising and help strengthen consumer protection for European citizens.” 15th May 2020 | By contenteditorlast_img read more

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Covid-19 disruption pushes Tabcorp revenue down 5.7% in Q1

first_imgAt the time, Tabcorp managing director and chief executive David Attenborough said there was no longer a need for his business to hold a stake in Jumbo after it formalised a long-term extension of its reseller agreement until August 2030. The AGM also saw reference to Tabcorp’s performance in its 2020 financial year, where, again as a result of Covid-19 disruption, revenue was down 4.8% year-on-year to Au$5.2bn. Covid-19 disruption pushes Tabcorp revenue down 5.7% in Q1 Regions: Australia Australia’s Tabcorp has reported a 5.7% year-on-year decline in revenue for the first quarter of its financial year, primarily due to disruption caused by the novel coronavirus (Covid-19) pandemic. However, despite declines in these two segments, Tabcorp did see a 2.9% year-on-year rise in wagering and media revenue. There was a drop in both retail and reduced net yields, while wagering account revenue fell 47%. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Publication of the Q1 trading update came at Tabcorp’s Annual General Meeting, where David Attenborough spoke for the final time as its chief executive at an AGM before he steps down from the role. Topics: Finance Q1 results 2020 Revenue from lotteries and keno – Tabcorp’s largest business – fell by 6.9% on a year-on-year basis, despite strong jackpot sequences in the period. The operator also said jackpot sales were up between 15% and 30% in jackpot game sales, compared to pre-Covid-19 levels. Chairman Paula Dwyer, who will also step down both from her role and from the Tabcorp board, added: “David has been an inspiring CEO of Tabcorp having led through the enormous complexity that goes with our licensed gambling operations and the significant events that have shaped the company. Looking ahead, the operator said it believed it remained “well placed”, thanks to a “resilient, diversified earnings base and strengthened balance sheet”. September month also saw Tabcorp raise $600m through an accelerated entitlement offer, comprising $371m from institutional investors, and a further $230m from a separate retail component. 20th October 2020 | By Robert Fletcher The operator did not release full financial figures for the period, but said in a trading update that revenue for the three months to 30 September were down in all but one of its business areas.center_img Tags: Revenue Finance Tabcorp In addition, Tabcorp said that it would commit to further investment to support its ‘Excitement with Integrity’ mantra, citing key initiatives such as its risk and compliance systems and customer care technology. “It has been a privilege to be the CEO of such an extraordinary Australian company and I remain committed to ensuring a smooth transition to the next CEO in 2021,” Attenborough said at the AGM. “I am proud to leave behind a company that has been substantially transformed into a diversified, resilient, purpose-led organisation. We have done a lot of work to integrate leading inclusion and diversity practices into our operations, to ensure diversity of thought and drive commercial success.” Q1 results 2020 The balance sheet was strengthened significantly recently, with Tabcorp last month agreeing to sell its 11.6% stake in online lottery business Jumbo Interactive for AUS$97.8m (£53.2m/€58.5m/$68.9m). “On behalf of the board I would like to thank him for his hard work and professionalism over many years.” The wagering and media arm saw revenue fall 10.1% to $2.08bn, while gaming services revenue also fell 27.3% to $221m, though lotteries and keno revenue was up 1.8% to $2.12bn. Subscribe to the iGaming newsletter Attenborough announced in July this year that he would retire as chief executive and managing director during the first half of 2021, and though the operator is yet to announce a permanent replacement, a global search is ongoing. Elsewhere, gaming services revenue declined 55.2%, as Tabcorp was hit by the enforced closure of licensed venues across Australia. The operator said that the extended period of closure in Victoria had a particular impact on this area of the business. During its 2021 financial year, it will focus on driving digital opportunities across its lotteries, keno, wagering and media segment, as well as improving performance in wagering and media, and delivering the gaming services turnaround and the business-wide optimisation program. Email Addresslast_img read more

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Betting and Gaming Council welcomes new online slot controls

first_img Email Address Regions: UK & Ireland British industry standards organisation the Betting and Gaming Council (BGC) has welcomed the Gaming Commission’s decision to introduce new rules for online slot games, saying this will help to improve player safety. “We are also progressing a game labelling project which will improve labelling of games in order to educate players on key game characteristics.” Dugher also noted that BGC members have already introduced some of the rules set out by the Commission, including slowing down spin speeds and banning certain gaming features. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Among the new rules are permanent bans on reverse withdrawals, autoplay options and slot games with spin speeds faster than 2.5 seconds. Also prohibited will be features that speed up play or give the illusion of control over the outcome, and sounds or imagery that give the impression of a win when the return is equal to or below a stake. 2nd February 2021 | By Robert Fletcher The measures, developed in response to a consultation that began in July of last year, must be implemented by all licensees by 31 October this year. BGC chief executive Michael Dugher said the new rules match the organisation’s ethos of driving change and promoting safer gambling among licensed operators. “We welcome the announcement, which builds on the BGC’s new code of conduct from last September for the design of online games in a bid to further improve player safety,” Dugher said. Earlier today (2 February), the Commission set out a series of measures that will apply to all licensed operators active in the British market. “Among the major commitments we have already introduced are minimum game cycle speeds of 2.5 seconds, the ending of turbo play, which allows players to speed up games, and the scrapping of multi-slot play, where a player can place multiple stakes on different games at the same time,” Dugher said. Topics: Casino & games Legal & compliance Casino regulation Online casino Regulation Tags: BGC Betting and Gaming Council Online casino Betting and Gaming Council welcomes new online slot controls Subscribe to the iGaming newsletterlast_img read more

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Victoria government pushes back Crown inquiry deadline

first_imgCrown’s executive chairman Helen Coonan said: “As Executive Chairman, I have made clear that any shortcomings identified by the Royal Commissions will be addressed. The Board and I are committed to making Crown a stronger, more transparent and respected company.“We have initiated a sweeping program of significant reforms, enhancements and personnel changes. We cannot change the past, but we can be absolutely steadfast in the approach we take to driving the culture and transparency of the company into the future”. The initial August deadline has been pushed to 15 October 2021. Crown said it remains fully co-operative in relation to the Royal Commission, chaired by Raymond Finkelstein QC. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The state government first announced its investigation into Crown in February, following a New South Wales enquiry that found Crown unsuitable for a license in Barangaroo. Subscribe to the iGaming newsletter Victoria government pushes back Crown inquiry deadline The New South Wales scandal – which found that Crown facilities and accounts were being used for money laundering and raised questions about work with junkets that had ties to criminal groups – led to the resignation of Crown’s former chief executive Ken Barton in February, with further senior resignations following. Regions: Oceania Australia Email Address The Government of the Australian state of Victoria has extended its time frame to complete a Royal Commission which will determine whether Crown Melbourne can hold a licence in the state. Legal Coonan then took over as executive chairman, filling Barton’s role while continuing to serve as chair of the board of directors, until a permanent chief executive can be appointed. Tags: Crown Resorts Crown Melbourne 11th June 2021 | By Nosa Omoigui Topics: Casino & games Legal & compliance Casino regulation Land-based casino Casino operations Legal Regulationlast_img read more

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