Archives : Aug-2021

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: China Guangdong police foil crypto gambling ring Chinese police in the southern province of Guangdong have claimed to have broken up a massive illegal Fifa World Cup gambling ring hosting more than Y10bn (£1.1bn/€1.3bn/$1.5bn) in cryptocurrency bets.The police said that they had arrested six suspects as part of the operation.The ring was being hosted on the dark web, which is not indexed by traditional search engines, according to the South China Morning Post.Some 330,000 people registered to place bets on the platform from numerous countries, with the website having operated for eight months. It is also claimed that more than 8,000 ‘agents’ were used to recruit new members through a pyramid scheme to underpin the website and earned commission as a result.The gambling syndicate “used the loophole that virtual currency is not effectively regulated in our country” to make huge profits, the police said.The latest news represents the latest development in a huge crackdown on illegal gambling in the country, stemming from last September when the government shut down all local cryptocurrency exchanges and blocked the launch of any initial coin offerings.The announcement comes just days after more than 40 suspects linked to illegal online gambling were apprehended in Beijing.Guangdong police claim to have arrested more than 500 suspects from over 20 gambling rings in relation to the World Cup. However, the latest case is the first to exclusively feature cryptocurrencies.Earlier this month, it emerged that Chinese betting on the World Cup via the country’s Sports Lottery could be worth up to $7.5bn, with billions more set to be wagered via illegal gambling.Picture credit: Tasnim News Legal & compliance Subscribe to the iGaming newslettercenter_img Topics: Legal & compliance Sports betting Huge operation in southern province as government crackdown continues 13th July 2018 | By contenteditor Email Addresslast_img read more

first_img Subscribe to the iGaming newsletter Email Address Chinese online sports lottery provider 500.com has reported increased operating losses for 2018, despite experiencing a 73.7% year-on-year rise in revenue. Tags: Online Gambling 500.com reveals wider losses despite revenue growth Finance 25th February 2019 | By contenteditor Regions: China Topics: Finance Lottery Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Chinese online sports lottery provider 500.com has reported increased operating losses for 2018, despite experiencing a 73.7% year-on-year rise in revenue.Net revenue for the 12 months through to December 31, 2018, at the New York-listed company amounted to RMB126.1m (£14.4m/€16.6m/$18.9m), up from RMB72.6m in 2017.500.com said this growth would have been significantly lower if its acquisition of TMG, on online lottery betting and online casino platforms based in Malta, had been completed in January 1, 2017, rather than the actual transaction date in July 2017.On a pro forma basis, assuming that the deal went through in January 2017, TMG would have contributed full-year total net revenue of RMB93.4m, thus boosting 2017 revenue to RMB116.6m. As a result, year-on-year growth for 2018 would have stood at just 8.1%.However, operating losses for 500.com increased by 34.6% to RMB494.4m from RMB367.3m. This was partly down to an increase in operating expenses for the full year, with this total standing at RMB635.7m, up from RMB413.2m in the previous year.500.com faced much higher expenses in terms of impairment of equity method investments, with total spend rising from RMB28.8m to RMB149.9m, while the company also committed more funds to services, up from RMB38.2m to RMB80m.There were also higher costs for general and administrative purposes (RMB251.4m), service and development expenses (RMB61.9m) and sales and marketing investment (RMB92.4m), with the latter of these mainly attributed to advertising expenditure for the 2018 Fifa World Cup.In addition to reporting an operating loss, 500.com saw loss before income tax rise from RMB345.5m to RMB491.3m and net loss climb from RMB316.1m to RMB459.4m. Net loss attributable to 500.com stood at RMB427.3m, up from RMB374m in 2017.Reflecting on the results, 500.com CEO Zhengming Pan said that the company is still feeling the effects of the decision to suspend online sports lottery sale in China back in April 2015. Pan said that 500.com has operated in line with the regulations, seeking out other markets to boost business.“Since we voluntarily suspended our online lottery sales operations in April 2015, we have continued to engage in new and promising initiatives to increase our revenue base,” Pan said. “For example, we acquired TMG in July 2017, and this acquisition has significantly increased our revenue.“In addition, in March 2018, we entered into a framework agreement with CSLA, under which, both parties plan to cooperate to develop physical channels to sell sports lottery tickets. In that regard, we have entered into framework agreements with Tianjin, Hunan and several other provinces and cities in China, to assist them in developing physical sales channels of sports lottery tickets.“We also have started trial operations in Tianjin, Hunan, Hubei, Guangxi and several other provinces and cities in China.”Pan added that 500.com is committed to these expansion efforts in order to help enhance value for shareholders inevitably hit by the online lottery sales ruling.last_img read more

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Madrid-listed Codere has announced a series of changes to its organisational structure as part of an effort to simplify management processes and give more accountability to regional divisions. Tags: Online Gambling OTB and Betting Shops 12th April 2019 | By contenteditor People Topics: People Strategycenter_img Madrid-listed Codere has announced a series of changes to its organisational structure as part of an effort to simplify management processes and give more accountability to regional divisions. Codere has said the new structure will help the group to improve its operational capabilities and improve the efficiency of its management processes, with the idea of giving more prominence to certain sections of the business and strengthening functional areas.Approved by Codere’s board, the new structure splits operational and regional leadership into two sections, with officials reporting to group CEO Vicente Di Loreto.In terms of operational roles, Carlos Villaseca will continue as chief operations officer for retail, with Moshe Edree to serve in the same role for digital. Serafín Gómez will oversee security and compliance functions.Codere has also set out three specific regional roles, with Alejandro Pascual to serve as regional manager for the operator in Europe, Rodrigo González in Mexico and Bernardo Chena in Latin America, with the exception of Mexico.The group’s existing country managers for Argentina, Colombia, Panama and Uruguay will remain in place, reporting to the new regional managers.“I have the greatest confidence in our management team and in our organisation; the extensive experience and talent of those who make up Codere are undoubtedly great assets with which to face the opportunities and challenges that the market presents,” Di Loreto said.The restructure comes after Codere in February posted a 9.9% drop in revenue for 2018. Revenue was down €1.48bn (£1.28bn/$1.68bn) as the group was hit by the devaluation of the Argentine Peso. Subscribe to the iGaming newsletter Codere sets global focus with management restructuring Email Addresslast_img read more

first_imgCasino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 4th July 2019 | By contenteditor France’s APE selects banks to lead FDJ privatisation Regions: Europe Western Europe France Email Address Topics: Casino & games Finance Legal & compliance Lottery Sports betting Slots A syndicate of eight investment banking groups have been selected to work on the privatisation of French state-owned gaming operator La Française des Jeux (FDJ). Tags: Mobile Online Gambling Slot Machines Subscribe to the iGaming newsletter A syndicate of eight investment banking groups have been selected to work on the privatisation of French state-owned gaming operator La Française des Jeux (FDJ).Plans to sell off the majority of the French state’s 72% stake in FDJ via an initial public offering have been in the offing since October 2018, when the country’s parliament approved the move.The Agence des Participations de l’Etat (APE), the state agency that handles the privatisation of state assets, has now selected BNP Paribas, Citi, Goldman Sachs and Société Générale to serve as coordinators for the institutional share sale.Crédit Agricole Corporate and Investment Bank, HBSC and Natixis will serve as associate bookrunners, with Crédit Industriel et Commercial (CIC) acting as joint-lead partner.For the placement of shares with individual investors, Crédit Agricole will serve as global coordinator alongside Natixis. BNP Paribas and Société Générale will act as associate bookrunners, and CIC takes the role of joint-lead partner.The eight were selected following a tender process, launched on June 5 by Minster for the Economy and Finance Bruno Le Maire.They will now be responsible for drawing up the prospectus for the IPO, which must then be approved by France’s stock market regulator, Autorité des marchés financiers (AMF). The stock market listing is expected to be completed by the end of 2019, with the state retaining a stake of no more than 30% in FDJ.The privatisation of FDJ is likely to have a knock-on effect on the rest of the French market, potentially leading to a reform of the current gambling tax rate, and even the legalisation of online casino. The country’s igaming regulator L’Autorité de régulation des jeux en ligne (ARJEL) is also likely to be handed an expanded regulatory remit, which iGamingBusiness.com understands will result in it being renamed the Autorité nationale des jeux.In 2018 FDJ saw sales rise 4.4% year-on-year to €15.8bn, driven by growth in instant win games and sports betting.last_img read more

first_imgCasino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Michigan Governor signs betting and gaming bills into law 20th December 2019 | By contenteditor Subscribe to the iGaming newsletter Michigan Governor Gretchen Whitmer has ratified bills to legalize sports betting and online gaming in the state, paving the way for a 2020 roll-out.  Regions: US Michigan Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Michigan Governor Gretchen Whitmer has ratified bills to legalize sports betting and online gaming in the state, paving the way for a 2020 roll-out. Whitmer signed House Bill 4311, which creates the Lawful Internet Gaming Act, allowing the Michigan Gaming Control Board (MGCB) to issue licenses for online and mobile casino games.A similar proposal, put forward by Representative Brandt Iden, had been vetoed by Whitmer’s predecessor Rick Snyder in December 2018. For much of the year it looked as if the current Governor would refuse to ratify the bills if they passed the legislature.However, her concerns about igaming cannibalizing lottery revenue, and in turn having an adverse impact on education funding, were assuaged by significant changes to the tax rate set out in HB4311. This saw the minimum rate raised to 20% of gross gaming revenue of $4m or less, and to 28% for venues generating annual revenue of $12m or above.HB916, creating the Lawful Sports Betting Act, was also signed by the Governor. This allows tribal and commercial casinos to offer over-the-counter and online sports betting, taxed at 8.4% of gross revenue. Also signed into law was HB4308, the Fantasy Sports Consumer Protection Act, to create a legal framework for fantasy sports contests in Michigan.Read the full story on iGB North America. Topics: Casino & games Legal & compliance Sports betting Tribal gaming Horse racing Email Addresslast_img read more

first_img FanDuel and Twin River Casino Holdings have agreed to a market access partnership which would see the FanDuel sportsbook app launched in Colorado when legal sports betting becomes available in the state. Casino & games Topics: Casino & games Sports betting 27th January 2020 | By Daniel O’Boyle FanDuel and Twin River Casino Holdings have agreed to a market access partnership which would see the FanDuel sportsbook app launched in Colorado when legal sports betting becomes available in the state.Colorado will be the fifth state in which the FanDuel online and mobile sportsbook will be available.However, the operator will not launch a retail product in the state. Twin River revealed today that FanDuel’s rival DraftKings will launch a retail sportsbook at the Twin River Mardi Gras Casino in Black Hawk, Colorado, as well as an online product.Matt King, chief executive of FanDuel Group, said Twin River’s experience and Colorado’s betting framework made the deal an ideal one for his company.Read more on iGB North America. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Subscribe to the iGaming newsletter Regions: US Colorado Email Address Twin River agrees second Colorado betting deal with FanDuellast_img read more

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Indiana sportsbook handle falls further in April Topics: Finance Sports betting 11th May 2020 | By Daniel O’Boyle Regions: US Indiana Financecenter_img Indiana sportsbook revenue and handle continued to decline due to novel coronavirus (Covid-19), with sportsbooks in the state reporting revenue of $1.6m for April, down 71.7% from March. Indiana sportsbook revenue and handle continued to decline due to novel coronavirus (Covid-19), with sportsbooks in the state reporting revenue of $1.6m for April, down 71.7% from March.Betting handle declined to $26.3m, 64.8% below March’s figure, which was already down 60% from February. Both revenue and handle figures were record lows since sports betting became legal in Indiana on 1 September 2019.The state took in tax of $148,189, down 71.6%.With no retail sportsbooks open, all bets were placed online. Online handle was down 57.7% from March and online revenue fell 66.6%.Read more on iGB North America. Subscribe to the iGaming newsletter Email Addresslast_img read more

first_imgM&A 1st February 2021 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Sportech agrees to sell Bump 50:50 to Canadian Banknote The deal consists of $8m up front, plus a $2m performance-based earn-out payment, which would be paid in 2022. The deal is set to close in the second quarter of the year. Email Address Topics: Lottery Strategy M&Acenter_img Regions: Canada US Betting technology supplier Sportech has agreed to sell its Bump Worldwide business, which includes the Bump 50:50 brand, to currency printing business Canadian Banknote for CN$10m ($7.8m/€6.5m/£5.7m). Banknote – which prints lottery tickets as well as Canada’s currency, with clients including the Ottawa Senators, Toronto Maple Leafs, Toronto Raptors and Toronto Blue Jays – would then acquire Bump 50:50, which powers in-stadium raffles for professional sports teams. Sportech said it hoped to use the funds from the deal to invest in its plans to launch sports betting in Connecticut if the vertical is permitted there. It already powers betting on racing and jai alai in the state. Read the full story on iGB North America Tags: Sportech Bump 50:50last_img read more

first_img Tags: XLMedia Sports Betting Dime 24th March 2021 | By Robert Fletcher M&A XLMedia completes Sports Betting Dime acquisition AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter As per terms of the agreement, the Sportsbettingdime.com website will now run under XLMedia’s existing licences and refer clients to the affiliate’s regulated US operator partners. Last week, XLMedia revealed it had agreed to purchase Sports Betting Dime for £26.0m ($35.6m), saying the acquisition would provide the business with a US affiliate sports betting brand and strengthen its presence in the country. The purchase comes after XLMedia in December also acquired US-focused sports gaming and sports betting business CBWG Sports. Read the full story on iGB North America. Topics: Marketing & affiliates Affiliates M&A XLMedia went on to raise $33.5m under a placing and subscription to help fund the acquisition. Affiliate business XLMedia has completed its acquisition US-focused sportsbook review website Sports Betting Dime. Email Address Subscribe to the iGaming newsletter Regions: USlast_img read more

first_img RELATED ARTICLESMORE FROM AUTHOR Football FootballLatest Sports NewsSports BusinessNewsSport Tokyo Olympics Village: Organizers unveils Tokyo games athletes village to the media, check first look Tokyo Olympics: Covid-19 scare continues after a Uganda team member tests positive India Tour of Sri Lanka: From books to gym, Sanju Samson shares story of his quarantine life TAGSLaLigaLaLiga data analyticsLaLiga SportsTVSpanish professional footballSports Business NewsSports Business News India SHARE Euro 2020 Top Scorers: Ronaldo joins Patrik Schick at top, Lukaku remains second; Check who is leading the Euro 2020 Golden Boot race Cricket Football Latest Sports News Euro 2020 Points table: Germany secure first win, Poland keep Euro hopes alive; Check Euro 2020 latest group standings Football Happy Father’s Day: Nostalgic Sachin Tendulkar shares a special item that belonged to his father; Check video Previous articleFIBA announce tie-up to upscale Basketball Champions LeagueNext articleSouthee ”looking forward” to India series after Sydney Test snub Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGrammarlyAdvertisement Avoid Grammatical Errors with This Helpful Browser ExtensionGrammarlyUndoCapital One ShoppingThis hack can uncover JOANN discounts you don’t know aboutCapital One ShoppingUndoPhotoStickHow To Back Up All Your Old Photos In SecondsPhotoStickUndoAlso Read: LaLiga names official drinking water partner in ChinaThe dashboards, released by LaLiga this year, are giving club employees a world of data at their fingertips. Produced alongside the league’s international development department, they provide up-to-date information on various important metrics, from stadium attendances to TV audiences to social media stats to macroeconomic data from around the world, LaLiga has stated in a Press release.“Thanks to these tools, clubs have a live snapshot of their market position and that of LaLiga in all countries,” said Óscar Mayo, head of LaLiga’s international development department. “This allows them to see their key performance indicators (KPIs) in each market and calculate where new growth opportunities may be found.”The dashboards are a continuation of the digital ecosystem that LaLiga has created in recent years. All of the league’s digital assets (including websites, apps, social networks and the LaLigaSportsTV OTT platform) are combined with other sources of information (such as TV audiences and stadium attendance) in a centralized data lake where they are analysed by LaLiga’s business intelligence and analytics department. Club dashboards have been built from this information, offering clubs simple ways to view and analyses the data.To improve analysis, clubs can compare important data with averages from across the league. José Carlos Franco, director of technology and data at LaLiga, added: “The dashboards make it easier for clubs to analyse and compare their data using simple filters. This is helping clubs to improve their engagement on social networks and other campaigns in target markets.The dashboards offer demographic data of each club’s fans. Based on the users who have chosen a favourite club when accessing LaLiga’s digital platforms, clubs are provided with aggregate data on the age ranges, genders and countries of their fan base and of the average fan bases of the other clubs in the league. Another example looks at social media followers per network, via a connection to the Blinkfire tool.LaLiga financial controls bridging gaps between clubs’ revenuesAs Mayo detailed: “If a club has, for example, one or two players from Mexico and a major stake in that market then, thanks to this tool, they can check in real time if their growth in audience is significant, if their increase in social media followers from that country is above the average for the league’s clubs and if the market is one of interest or one with the possibility for growth.”Using this data, clubs will be able to see the real impact of decisions they make and can better inform new investment decisions by showing more clearly where results are being generated.As the dashboards are introduced to the clubs, all departments will have the opportunity to benefit. Stadium attendance data can help ticketing teams by working out their historical attendance data for a certain day of the week or kick-off time or opponent, TV audience data can show marketing where the club has the most fans tuning in to help them plan internationalization strategies and the detailed data on app usage can assist digital or IT departments to improve the service and cater to users’ needs.“Already we are helping clubs to build personalized digital channels and start joint campaigns that apply data-driven marketing techniques,” Franco added.LaLiga is now focused on ensuring the clubs know how to make the most of this wealth of information and has provided staff from its international development department and business intelligence and analytics department to help with this. “There is a general email address and people behind it who can help clubs with interpretation of data and any technical or business questions they might have,” Mayo stated.In addition to the data on the activities of the clubs and the league, there is also lots of external information that can be very helpful. Macroeconomic data from around the world, on metrics such as population, GDP and homes with a TV set, can help clubs to work out which countries and regions provide the best market opportunities. There is local consumer and business data provided by Ampere, with useful details such as average revenue per user and OTT popularity just a couple of clicks away.While the clubs explore the new dashboards, LaLiga is already working on new ways to evolve them. “We need to keep adding data to this,” Mayo said. “The key is being able to provide as much information and market context as possible, whether external or based on the clubs themselves.”Also Read: LaLiga confirms over 100 mn social media followers Latest Sports News Football YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Week|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory|SponsoredSponsoredUndo LaLiga providing data analytics to help clubs evolve Share on Facebook Tweet on Twitter Football Cricket Euro 2020, Italy vs Wales LIVE: Gareth Bale issues warning for Italy ahead of crucial fixture – Follow Live Updates Euro 2020- Spain vs Poland Highlights: Spain held to 1-1 draw as Lewandowski’s Poland keep Euro hopes alive LaLiga is providing clubs with detailed breakdowns of their data like global audience metrics, digital engagement and macroeconomic to enable them to identify new market opportunities.LaLiga’s business intelligence and analytics department has been working for the past two years to ensure the clubs in Spanish professional football have as much information as possible for analysing the marketplace and making strategic business decisions. This initiative is set to expand thanks to a new range of club dashboards. By Kunal Dhyani – January 22, 2020 Football Euro 2020 LIVE broadcast in more than 200 countries, check how you can watch Live Streaming of EURO 2020 in your country Facebook Twitter Euro 2020, Switzerland vs Turkey LIVE: Switzerland to punish hapless Turkey; Follow Live Updates, Follow Live updatelast_img read more