August 2021

Irish gambling tax hike set for immediate review

first_img Irish gambling tax hike set for immediate review Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Topics: Finance 23rd November 2018 | By contenteditorcenter_img Ireland’s government has committed to an immediate review of its gambling tax hike in a move that could lead to its repeal next year.Legislation doubling gambling tax from 1% to 2% of turnover was last night passed by the Dáil and is expected to proceed through the Upper House of the Irish legislature shortly, thereby bringing the measure into effect from January 1.However, in a dramatic 11th-hour concession to the gambling industry, Finance Minister Paschal Donohoe ordered a report on the tax rise’s impact to be presented to the Finance Committee by the end of the first quarter of 2019. The industry has warned that the increase will be massively damaging to the sector, with recent report commissioned by the Irish Bookmakers Association (IBA) claiming that the tax rise will lead to 400 betting shops closing and 1,500 job losses.In a debate in the Dáil, Donohoe said that a tax on gross profits – proposed by Independent Member of the Dáil Éireann Michael Healy-Rae and backed by the IBA – could be considered as a means of raising tax take while not decimating the nation’s retail gambling industry. Speaking to iGamingBusiness.com, a Department of Finance spokesperson said the door remained open to changes beyond January 1.“Minister Donohoe will continue to engage with the industry with the potential to look at the issue in the context of Budget 2020,” the spokesperson said.Healy-Rae’s amendment backed the IBA’s alternative proposal for a 10% tax on gross profits for shops, and a 20% rate for online operators. The IBA believes this change would raise the industry’s tax contribution by €25m while allowing businesses of all sizes to remain viable.IBA chair Sharon Byrne told iGamingBusiness.com today: “We are grateful the government have committed to doing a review early in 2019. This is critical as it will prove how a 100% increase is simply a tax on jobs and unsustainable. It cannot happen quick enough.”The government believes it can raise €50m through the rise in turnover tax, but this has been branded a “fantasy” by the assocaition, due to projected shop closures. The government plans to use the tax hike to increase funding for problem gambling treatment and the racing industry.Image: CraftyCaedus Regions: UK & Ireland Rise will be implemented as planned in January, but Finance Minister promises to look again Email Addresslast_img read more

Mobile sportsbook MoPlay seals Hertha BSC partnership

first_img Subscribe to the iGaming newsletter Marketing & affiliates Mobile sportsbook MoPlay seals Hertha BSC partnership 23rd January 2019 | By contenteditor Tags: Mobile Mobile sports betting start-up Addison Global has agreed a long-term partnership with Hertha BSC, a Berlin-based club playing in Germany’s top football division, the Bundesliga.The partnership, brokered by sports and entertainment agency Lagardère Sports, sees Addison Global’s MoPlay brand become Hertha’s official sports betting partner.This will see the operator work with the club to develop fan engagement initiatives, and special promotions for Hertha supporters.It follows MoPlay’s entry to the German market with its mobile-first, SBTech-powered sportsbook offering. The brand first went live in June last year, with a soft launch in the UK.The operator has already agreed similar partnerships with English Premier League clubs Manchester United and Watford FC.“Simultaneously securing a Bundesliga sponsorship deal and entering the German market is a sign of our strong commitment to achieving our goals for the MoPlay brand,” Addison Global chief executive Juergen Reutter said. “We are thrilled to partner Hertha BSC, a club with an extraordinary history and traditions, and also a forward-looking organisation whose ambitions on and off the pitch are in line with our own.“Since our first meeting with representatives of Hertha BSC we have been deeply impressed by the club,” he continued. “We also feel a real connection with Hertha BSC – our goals for global expansion as well as for offering improved gaming experiences for a new generation of fans are fully aligned, which is why we are very happy with [the deal].”Hertha BSC managing director Ingo Schiller added that he was delighted to have signed up MoPlay as a partner for the team.Image: HerthaBSC.de Email Address Topics: Marketing & affiliates Sports betting Regions: Europe Central and Eastern Europe Germany AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Mobile sports betting start-up Addison Global has agreed a long-term partnership with Hertha BSC, a Berlin-based club playing in Germany’s top football division, the Bundesliga.last_img read more

Profit slips at Raketech despite revenue growth

first_img Subscribe to the iGaming newsletter Topics: Finance Tags: Online Gambling Online gaming affiliate and content marketing business Raketech has reported a year-on-year decline in profit for 2018, despite enjoying a 49.0% increase in revenue. Email Address Online affiliate and content marketing company Raketech has reported a year-on-year decline in profit for 2018, despite enjoying a 49.0% increase in revenue.Revenue for the 12 months through to December 31, 2018 amounted to €25.6m (£22.3m/$29.0m), up 49.0% on the previous year. This was largely down to organic growth, which accounted for 29.9% of the percentage total.Raketech has said this positive revenue growth was seen throughout all parts of its operational model, including its core existing assets (Raketech Core), its research and development hub Raketech Lab and from newly-acquired assets. New depositing customers also increased 48.2% from 67,193 to 99,599.However, total operating expenses were up significantly in 2018, with Raketech spending a total of €14.4m, compared to €8.3m in the previous year.Direct expenses were up from €900,000 in 2017 to €2.1m, mainly due to higher spend on external SEO, hosting, development and domain expenses. Raketech has said this is in line with an ongoing strategy to capitalise on its scalable model, driven by its internally developed data-warehouse.Employee benefits expenses also jumped from €3.5m to €4.8m, due to a rise in overall staff numbers, while other expenses increased from €3.1m to €4.2m. The latter of these was down to €1.5m in expenses related to the business’ listing on the Nasdaq First North Premier.Raketech also noted an increase in depreciation and amortisation – up from €700,000 to €1.7m – mainly attributable to intellectual property acquired in 2018.Higher expenses seemingly had an impact on profitability at Raketech in the past year, with profit down from €5.8m to €4.6m. Profit before tax was also lower at €4.8m, compared to €6.1m in 2017, but operating profit was up from €8.8m to €11.2m.Reflecting on the past year, CEO Michael Holmberg was mainly upbeat, saying it was a record-breaking 12 months for Raketech. He cited product innovation and growth as an area of the business that he expects to drive growth in 2019.“Core is all about maintaining and growing old products for tomorrow, or build new products on old assets or domains by releasing product upgrades that matches the search trends of today and tomorrow,” Holmberg said. “We are seeing improvements in ranking of our products and I believe we are in a strong position to further optimise going forward.”Holmberg also spoke positively about the acquisition of Norwegian assets in the summer of last year, saying this is an area that is interesting Raketech moving forward, and also set out plans for Raketech in the newly regulated Swedish market.“The regulation of the Swedish gaming market came into effect on January 1 and we put a big focus on activating a new Swedish compliance strategy at the end of 2018 to ensure our sites follow robust compliance criteria,” he said. “We also discontinued partnerships with operators not applying for a Swedish licence.“With a clear compliance strategy executed, we can now focus resources on driving traffic to our new and existing regulated partners in Sweden with which we have established long-term deals. It is still early days and the operators and players are adapting to the new setting, but we believe the market will normalise over time and we see many opportunities ahead.”In addition, Holmberg set out his vision for Raketech to expand into new markets in 2019, saying the company is progressing with plans across several areas of the business. This includes the launch of a new casino product, under the Rapidi brand, powered by Trustly’s Pay N Play solution.“Looking ahead, we plan to expand into new markets, optimise our current assets in Raketech Core and launch new products in Raketech Lab, such as the above- mentioned casino product,” he said.center_img Finance Profit slips at Raketech despite revenue growth 22nd February 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Jackpot Raiders by Yggdrasil

first_imgYou can play a demo of the slot here! AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Jackpot Raiders by Yggdrasil Casino & games Companies: Yggdrasil Subscribe to the iGaming newsletter Topics: Casino & games Slots Yggdrasil’s action-packed release sees players join a pair of Jackpot Raiders on their quest for hidden treasure and the legendary Sunken City. This is the ultimate game for jackpot hunters – based on the hit games Ozwin’s Jackpots and Holmes and the Stolen Stones, but with larger rewards and more interactive features! Email Address 28th May 2019 | By Aaron Noy Yggdrasil’s action-packed release sees players join a pair of Jackpot Raiders on their quest for hidden treasure and the legendary Sunken City. This is the ultimate game for jackpot hunters – based on the hit games Ozwin’s Jackpots and Holmes and the Stolen Stones, but with larger rewards and more interactive features!last_img read more

Rush Street launches second online casino in PA

first_imgCasino & games Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 30th January 2020 | By contenteditor The Rush Street Interactive (RSI) arm of Rush Street Gaming has announced the launch of a new online casino platform in Pennsylvania to support its BetRivers-branded sportsbook. The Rush Street Interactive (RSI) arm of Rush Street Gaming has announced the launch of a new online casino platform in Pennsylvania to support its BetRivers-branded sportsbook.The new casino offering, which provides a selection of slot and table game content, is hosted on the same platform as the sportsbook, and also via the BetRivers brand. This will allow users to switch between the two verticals, both funded by a single wallet.Content includes blackjack, roulette and baccarat, as well as over 60 slot games, including Everi Gaming’s Double Ruby and Atomic Meltdown.In addition, the new offering will be integrated with the iRush Rewards program, enabling players to carry over points earned on other platforms and accumulate new points on BetRivers.com. The program stretches across RSI’s platforms in Pennsylvania and New Jersey.Read the full story on iGB North America. Email Address Tags: Online Gambling Regions: US Pennsylvania Topics: Casino & games Tech & innovation Rush Street launches second online casino in PAlast_img read more

Kentucky Derby postponed until 5 September

first_img Churchill Downs Incorporated (CDI) has announced that the 2020 edition of the Kentucky Derby US horse racing event will be switched from May to September in response to the global outbreak of Covid-19.The 146th Kentucky Derby had been due to run on 2 May, in keeping with its traditional date of the first Saturday in May, but will now instead take place on 5 September.This year’s Kentucky Oaks race has also been switched from 1 May to the later date of 4 September.The new dates are subject upon final approval from the Kentucky Horse Racing Commission, which CDI said it expects to receive later this week.Read the full story on iGB North America. Tags: Race Track and Racino 17th March 2020 | By contenteditor Kentucky Derby postponed until 5 September Topics: Sports betting Horse racing Churchill Downs Incorporated (CDI) has announced that the 2020 edition of the Kentucky Derby US horse racing event will be switched from May to September in response to the global outbreak of Covid-19. Subscribe to the iGaming newsletter Horse racing AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: US Email Addresslast_img read more

Prime Gaming completes SkillOnNet migration

first_img6th October 2020 | By Aaron Noy Email Address Prime Gaming completes SkillOnNet migration Topics: Casino & games Tech & innovation Platform “Our migration to the SkillOnNet platform comes as we look to take the experience we offer players across all of our brands to the next level, and as we deploy our global expansion plans,” Prime Gaming’s Sarah Holbert said. Prime Gaming said the switch will assist its expansion plans as it focuses on marketing and acquisition in a number of jurisdictions targeted by the SkillOnNet network. “It is migrations and partnerships like these that demonstrates our unrivalled technical solution and turnkey service to operators in markets around the world.” Casino & games SkillOnNet provides technology to a number of major European online casino brands including PlayOJO, DrückGlück, SlotsMagic and MegaCasino. Its platform includes more than 3,000 slot, casino and live dealer games from suppliers such as Microgaming, NetEnt and Yggdrasil Gaming. Subscribe to the iGaming newsletter The Cyprus-based group will move PrimeSlots and Prime Scratchcards to SkillOnNet’s Casino Network, which already operates Prime Gaming brands such as Mega Casino, Slingo.com and ICE36. Prime Gaming is expanding its partnership with SkillOnNet after announcing that it is migrating its remaining brands over from Aspire Global’s technology. “Our platform and technologies are among the best and we are pleased that Prime Gaming will now have their whole family of popular brands with us,’ SkillOnNet sales and marketing director Michael Golembo said. “To do this for our two very first released leading brands, we need a platform that is strong, stable and one who can deliver the highest player value in today’s challenging markets. When you look at the success enjoyed by our other casinos that already use SkillOnNet’s technology, we are confident that we have a platform partner that can help us achieve our goals for these two legendary brands as well.” Companies: Yggdrasil Prime Gaming has selected SkillOnNet for launches such as LuckyMeSlots, ICE36 and LordPing over the last two years. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Optimove iGaming Pulse – October 2020

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The average net gaming revenue per active player increased slightly in October, by 3% month-on-month, but increased dramatically on a year-on-year basis, rising by 24%. Retention rates Last month, new retention rates increased by 3% month-on-month. It is likely that the many sporting events that took place in October kept September’s new players active and entertained, with plenty of games to bet on. The average number of monthly deposits per player in October slightly decreased, falling by 1% month-on-month to 9.3 deposits per player. This represented a 12% year-on-year increase. Sports KPIs The average deposit amount decreased by 13% month-on-month and by 6% year-on-year, rising to €33 per player. Regions: Canada Europe Email Address Average deposit amount 4th November 2020 | By Joanne Christie Conversion rates Monthly deposit per player Optimove iGaming Pulse – October 2020 Conversion rates Subscribe to the iGaming newsletter Conversion rates increased by 2% month-on-month and by 8% year-on-year, rising to 43%. Retention rates for sports bettors increased in October, by 2% month-on-month and by 8% year-on-year. New retention rates This KPI shows the number of activity days during the month – days where a player either places a bet or makes a deposit. There was an increase in the average revenue per active player during October, with revenue up 5% month-on-month and 33% year-on-year to €88 per player. iGaming Pulse comprises of data collected from over 200 online casinos and sports betting companies, including industry giants and boutique operators, providing an accurate, statistically significant sample of the industry. Access to this information is vital for operators that are limited to only their own data. Optimove’s iGaming Pulse is now fully accessible, ensuring operators will have a clearer overview of how they compare to the industry. In Canada, we saw an increase of 35% in monthly revenue per player – this was perhaps due to Canadian players betting on MLB games as there are many baseball fans in the country. Number of activity dayscenter_img Its figures are updated on a monthly basis. It enables gaming operators to gain a clearer understanding of how their KPIs compare against the rest of the industry, broken down by geography and game type. This type of data, which is made publicly available for the first time, provides operators with the ability to conduct comparative analysis and derive insight into how their performance compares with industry averages. October was quite the month for the sports betting vertical, with sports fans worldwide spoilt for choice as both the NBA and MLB finals took place. The average deposit amount for casino players decreased by 3% month-on-month but increased by 12% year-on-year to €37. Retention rates Casino KPIs In October, retention rates increased by 6% month-on-month and by 3% year-on-year. In addition, matches continued in the UEFA Champions league, with many exciting games on the agenda for sports fans and bettors. Last month conversion rates decreased by 5% month-on-month but increased by 9% year-on-year. Monthly deposits Average deposit amount Net gaming revenue per player This KPI shows the number of players who made their first deposit in September and remained active in October. The average number of monthly deposits for sports bettors remained the same month-on-month and increased by 5% year-on-year. During the months of March and April, at the height of the coronavirus outbreak, casino attracted many new players, with some of these having crossed over from sports. However, new players are typically less active and as the chart below shows, as the volume of new players increases, the average number of activity days decreases. We detail below how these affected sports KPIs and also explore whether casino KPIs were impacted in any way. Monthly revenue However, while up on the previous month, new retention rates were down 5% on a year-on-year basis. It was a great month specifically for the city of Los Angeles as the LA Dodgers won the 2020 World Series and the LA Lakers won the 2020 NBA Championships. Topics: Casino & games Finance Sports betting For October specifically, the number of activity days was fairly stable – increasing by 2% month-on-month and by 3% year-on-year, rising to 6.5 days. About iGaming Pulse:iGaming Pulse is an industry benchmark tool for the gaming sector. iGaming Pulse enables gaming operators to accurately assess their overall performance against industry-wide key performance indicators. Casino & gameslast_img read more

Kindred maintains momentum amid Covid-19 disruption in Q3

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Q3 results 2020 Kindred maintains momentum amid Covid-19 disruption in Q3 This broke down to revenue of £120.9m from sports betting, a 10.5% increase in a period that saw the 2019-20 football seasons conclude, and the 2020-21 editions begin across Europe.  Subscribe to the iGaming newsletter “Entering these markets often has a short-term negative impact on our business, but we know that, if managed well, this is temporary and that profitability will be restored over time,” Tjärnström said. “As an organisation we continue to endure the pandemic and our dedicated teams are doing a terrific job as they run the business from their homes,” Tjärnström said. “The ability of the entire Kindred team to adapt to these new circumstances, and turn it into a strength, demonstrates our progressive attitude as a company.  After finance costs and income tax of £8.2m, Kindred’s net profit for the third quarter came to £52.5m, a 190.1% year-on-year improvement.  Western Europe was Kindred’s main source of revenue, bringing in £173.3m, more than double the contribution from the Nordics, which was down marginally at £66.0m, and the only region to post a year-on-year drop in revenue.  Tags: Kindred Group Unibet Henrik Tjärnström “As with all market entries, the initial investment phase is focused on building our customer base and, as a result, the US market has seen revenue negatively impacted by big bonus campaigns during the second half of the quarter.” “I am both proud and pleased to see how well we have all managed to deal with this difficult situation.” Online casino, however, remained the principal source of revenue, making up £145.0m of the Q3 total, 38.5% higher than the prior year. Tjärnström (pictured) noted that despite the return of sports, customer activity around online casino had largely sustained once more betting options were available to customers.Poker, in a period where the vertical has seen a mini-resurgence, also performed ahead of Q3 2019, with revenue up 30.8% at £6.8m. However, this represented a 29.9% decline from Q2’s high of £9.7m. Other products brought in a further £8.0m in revenue.  Kindred Group chief executive Henrik Tjärnström said the business’ diversified model meant it was able to shrug off ongoing disruption caused by novel coronavirus (Covid-19) in the third quarter of the year. Email Addresscenter_img The quarter’s revenue growth did lead to higher outgoings for the business, with cost of sales rising to £117.7m, including increased betting duties of £57.5m. Administrative expenses, on the other hand, were down 6.3% at £53.8m.  Gross winnings revenue for the three months ended 30 September was up 24.2% year-on-year to £280.7m (€311.5m/$369.1m).  Once depreciation and amortisation charges were factored back into this figure, earnings before interest, tax, depreciation and amortisation doubled to £74.6m.  Regions: UK & Ireland US Central and Eastern Europe Nordics Southern Europe Western Europe Illinois Indiana Iowa New Jersey Pennsylvania Operating profit, after management incentives, personnel restructuring and foreign currency translations, came to £61.4m, a significant increase from the prior year’s £22.4m total. In terms of geographic split, 61% of revenue derived from locally regulated markets.  The strong third quarter means Kindred’s revenue for the nine months to 30 September is 13.1% ahead of 2019, at £765.5m. EBITA for the period is up 61.4% to £158.3m, with net profit almost doubling to £80.3m.  This momentum looks to have carried into the third quarter, with gross winnings revenue for the period from 1 October to 3 November tracking 42.0% ahead of the prior year, and active customer numbers up 18%. Topics: Casino & games Finance Sports betting Online casino Q3 results 2020 Online sports betting A further £25.4m came from Central, Eastern and Southern Europe, while revenue from other markets, including the US, grew almost threefold to £16.0m. Kindred is currently live in New Jersey, Indiana and Pennsylvania, with preparations for Illinois and Iowa roll-outs now underway.  This led to high levels of customer activity, with customer stakes up 21.2% to £1.48bn, though margin worsened during the quarter, to 8.2% after free bets.  “With New Jersey and Indiana also growing steadily, I expect the US to become one of Kindred’s largest markets during the next couple of years,” Tjärnström said.  6th November 2020 | By Robin Harrisonlast_img read more

French survey suggests 6% of players “overwhelmed” during second lockdown

first_imgCasino & games Email Address France also introduced new plans for player protection requirements in January 2021. The ANJ, under the instruction of Harris Interactive, surveyed a sample of 3,013 individuals who had gambled at least once during 2020. Results from a survey conducted by French regulator L’Autorité nationale des Jeux (ANJ) have revealed that 6% of players reported feeling “overwhelmed” by their gambling activities during the second national lockdown in October 2020. 34% of those who claimed to have not played during the second lockdown said that they wanted to avoid spending money on the games. 23rd March 2021 | By Marese O’Hagan The majority of respondents, 54%, said they gambled a similar amount during the lockdown as they did before. 11% said they gambled more during the lockdown and 34% said they gambled less. Casino players and new players were more likely than average to report feeling overwhelmed. However, 43% of these players said they did not plan on seeking professional help, while 35% plan to continue playing just as much or more. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img French survey suggests 6% of players “overwhelmed” during second lockdown The results also revealed that 6% of players reported feeling overwhelmed by their amount of play from the start of the second lockdown, and 70% of these players reported feeling worried about experiencing financial difficulties in the near future as a result. Regions: Europe France The survey found that 75% of players who placed bets in 2020 did so during the second lockdown. Topics: Casino & games Online casino When asked what caused players to continue to play during the second lockdown, 57% of those surveyed said they hoped that they could earn more money, while 43% said that their gambling habits remained the same. Only 4% said that progression in games encouraged them to continue. Tags: L’Autorité nationale des Jeux Subscribe to the iGaming newsletter French online revenue hit a record high in 2020, with the market bringing in €1.74bn.last_img read more