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Gaming Americas Q3 Meetup: Gaming Insights with Segev LLP

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The Gaming Americas Quarterly Meetups by Hipther Agency are designed to keep you up-to-date with what is fresh in the North American and Latin American gambling industry.

The meetups feature several panel discussions per region and topics that are joined by key industry experts, CEOs, C-Level Executives, Business Development Managers, and sometimes government officials/regulators.

The Gaming Americas Q3 Virtual Meetup that took place on September 13 presented an in-depth exploration of US gambling legislation, featuring the latest edition of the ‘Gaming Insights with Segev LLP’ and the ‘US Legislation Round-up’, while the last session delved into the world of AI and the challenges it poses in the iGaming sector.

Session 1: ‘Gaming Insights with Segev LLP’

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Speaker: Negin Alavi, lawyer at Segev LLP 

 

Watch the Session on YouTube and HiptherTV!

Negin Alavi, a distinguished lawyer at Segev LLP, took the virtual stage during the ‘Gaming Insights with Segev LLP’ session, setting the tone for a captivating discussion on the evolving legal landscape of gaming and betting.

Kicking things off, Negin provided a brief overview of Segev LLP and its international operations spanning Canada, the United States, and China. This global presence underscores the firm’s commitment to addressing legal challenges and opportunities across borders. With this foundation in place, Negin delved into the heart of the matter: a comprehensive review of the current gaming and betting laws that shape the industry.

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Intriguingly, Negin also explored the potential transformative effects of the proposed alterations outlined in Canadian Bill S-268. This bill, titled “An Act to Amend the Criminal Code and the Indian Act,” carries the promise of redefining the Canadian gaming and betting legal landscape.

Before delving into the legal intricacies, Negin took a moment to acknowledge the significance of her location. She presented her insights from Vancouver, situated on the unceded, ancestral, and traditional territory of the Musqueam Squamish and Tsleil-Waututh nations. This acknowledgment was twofold: a mark of respect for the indigenous peoples who steward these lands and a recognition that discussions about Canadian law, particularly those concerning indigenous peoples, are imbued with profound implications.

The current legal landscape in Canada revolves around the Criminal Code, the primary piece of legislation governing gaming and betting. Under this federal legislation, gaming and betting are generally illegal, with certain exceptions, notably lotteries. Negin emphasized that gaming, as defined by the Gambling Law, comprises three fundamental elements: consideration (the bet or wager of money), chance, and a prize. Even when games blend skill and chance, they are still categorized as games of chance in Canada.

Provinces possess the authority to enact gaming legislation within their borders, and even operate in partnership with offshore gaming operators, as seen in Ontario’s new iGaming regime. However, altering the Criminal Code, a federal statute, is beyond their unilateral reach. Despite this federal oversight, recent legal reforms have significantly shaped Canadian iGaming. Single-event sports betting became legal in August 2021, and Ontario launched its established iGaming Regime in April 2022.

Before these changes, Provinces were constrained to offering parlay betting, leaving offshore operators to fill the void in single-event (and live) betting. Now, with the legalization of single-event betting, any Province can oversee it. Ontario, being well-positioned, promptly launched its iGaming regime, now in competition with unregulated offshore offerings. This shift has allowed legally registered iGaming operators to provide their catalog to Ontario consumers, who spend nearly a billion CAD on online gambling. It’s a move toward embracing private operators rather than battling against them.

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However, it’s essential to recognize the context: many Canadian companies were pioneers in the early days of iGaming, but due to regulatory limitations, they relocated offshore. These legal reforms may signal a return to Canada’s true potential in the iGaming sector.

The implications extend beyond economics. The Ontario Government stands to gain substantial tax revenues, which were once lost to unregulated operators. With these reforms in place, the iGaming industry in Canada is poised for better regulation, emphasizing consumer protection, responsible gaming, and job creation.

 

Turning our attention to the future, Negin provided a compelling overview of the impending changes in Canada’s legal landscape. At the forefront stands Bill S-268, poised to terminate provincial governments’ monopoly on lotteries.

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To facilitate the discussion, Negin illuminated the legal distinction between indigenous peoples and First Nations. While indigenous peoples encompass all of Canada’s original peoples and their descendants, a First Nation is an officially recognized group under the Canadian Federal Government’s administrative unit, governed by the Indian Act. Importantly, Bill S-268 proposes to amend this very act.

The Indian Act, originally enacted in 1876, has a complex history marked by efforts to assimilate indigenous peoples and numerous discriminatory provisions. While some of these provisions have been removed, the act still wields a substantial influence over indigenous peoples’ lives today.

The proposed changes in Bill S-268 are ambitious and far-reaching. Its preamble is particularly noteworthy, as it outlines the legal foundation for these changes. Negin read the preamble aloud, emphasizing the recognition of indigenous and treaty rights, including their rights to regulate activities like gaming, betting, and lotteries on their lands.

This nuanced phrasing suggests that lawmakers are granting new rights to indigenous peoples while acknowledging that they already possess inherent treaty rights to oversee gaming, betting, and lotteries on their lands. The potential impact of this specific wording on Canada’s legal framework remains to be seen should Bill S-268 become law.

Moving on, Negin detailed the enforceable part of the bill, containing amendments that provide considerable flexibility to First Nations in managing lotteries. These amendments span charitable gaming licensing, fairs and exhibition gaming, amusement park lotteries, and the Terms & Conditions of licenses. In effect, these changes substantially narrow the scope of the current criminal code exceptions, representing a significant shift in Canada’s gaming laws. Importantly, it would mark the first time in Canadian gaming law that provincial governments would not need to be directly involved in for-profit gaming operations.

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Summarizing, Negin pointed out the profound implications of this bill. If enacted, hundreds of First Nations could independently conduct and manage lotteries, each in accordance with their own laws. This change opens up a world of possibilities, not only in terms of revenue but also empowerment for indigenous peoples.

In conclusion, Bill S-268 stands as a transformative piece of legislation, promising to reshape the industry and empower indigenous communities. These discussions hold significance not just for the iGaming sector but for the broader Canadian legal landscape and its indigenous peoples.

As we eagerly await the unfolding of these legal developments, it’s clear that the gaming industry in North America is poised for significant changes, with potential benefits for all stakeholders.

Stay tuned for the next two insightful sessions of Gaming America Q3 Meetup, the US Legislation Round-up for Q3 and the hot AI issues in iGaming!

Watch the video of “Gaming Insights with Segev LLP” on YouTube & Hipther TV!

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Slotegrator’s review of the first half of 2024 in iGaming: results & trends

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Since the beginning of 2024, content aggregator and solution provider Slotegrator has been analyzing case studies and conducting careful research. Why did the company choose this development path? What results have been achieved, and what can be expected in the future? It’s time to take a look at how 2024 is going — and maybe get a sneak peek at 2025.

Since the beginning of the year, Slotegrator has continued to actively present its new and updated solutions, like the company’s turnkey online casino platform and its key modules, including the KYC, BI, and Casino Builder modules, alongside many others. These modules are strategically designed to streamline online casino management, covering tasks like analyzing big data, assessing risks, and enhancing platform performance.

The modules have proven to be very effective, partially because they satisfy clients’ concrete needs. The primary sources of inspiration for these cutting-edge innovations are the company’s internal research and case studies of successful clients.

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According to Slotegrator’s internal research, clients reported that the integration of these updates came at just the right time. Customers particularly valued the revamped player segmentation module, offering customization options and personalized marketing options, and a renewed anti-fraud module that utilizes a color-coded risk scale that allows operators to set risk levels.

“This feedback from our customers is a great foundation for Slotegrator’s future report on future iGaming trends in 2025. We’re constantly collecting and updating information on new technologies, game types, payment methods and player behavior, and honest feedback on the new features of upgrades helps us understand the direction of our future development,” comments Yana Khaidukova, managing director at Slotegrator.

Innovation is key to keeping up with the fast-paced iGaming industry. In 2024, the Slotegrator team is focused on enhancing product quality and publishing insightful case studies to better demonstrate the capabilities of its products. So far, Slotegrator has published multiple case studies analyzing its clients’ success. Here are the two latest examples:

 

When it comes to modern iGaming trends, many of them haven’t changed — we should expect to see more VR integration in esports, AI, blockchain, and cryptocurrency adoption. Also, mobile-first gameplay will be a new standard. The Slotegrator team has also noted an increasing emphasis on responsible gaming throughout the iGaming industry. Slotegrator keeps all of these in mind when entering attractive markets with new partners — especially those in Latin America and Asia.

 

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What about licenses? Slotegrator recommends keeping up to date with licensing conditions. Among the most promising jurisdictions are:

  • Kahnawake
  • The Isle of Man.
  • Anjouan

Faruk Aydin, Chief Revenue Officer of Revpanda, a Slotegrator’s media partner, adds to the list of trends some points about promotion on the iGaming industry: “Within the first half of 2024, we’ve seen that human-written content has made a great comeback, thanks to Google’s recent core update. It has started to remove AI-written shallow content across the entire SERPs, and the SEO community expects this trend to continue. Overall, we can say that the first half of the year strongly demonstrates Google’s effort to fill the SERPs with high-quality, engaging, local, and relevant content, avoiding fluff and providing the most useful resources to people.”

William Sarto, PR & Marketing specialist at CasinoRIX or CasinoRIX team, comments:

“In recent months, Google has undergone several significant changes due to a major update that started in March and ended in April. Then, at the beginning of May, they launched another big update. We’ve already seen many affiliate sites affected by this, particularly those that overused AI-generated content. AI has become mainstream, so it’s important to integrate it into processes based on thorough market analysis and real statistical data.

Moreover, there’s a clear trend towards creating projects that offer additional value for players and partners. It’s crucial to build a brand, not just a network of sites, and to add values into what you create while striving to meet customer needs. We fully agree with the earlier comments that in-depth analysis and staying in tune with trends will lead to success and growth. As we can see, all major and well-known projects are steadily growing with these updates.”

The post Slotegrator’s review of the first half of 2024 in iGaming: results & trends appeared first on European Gaming Industry News.

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NFTs and the future of fan engagement: How NFTs can boost engagement with sports brands

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By: Evgeniy Babitsyn, Chief Marketing Officer, Bets.io

The sport industry finds itself amidst its own digital transformation journey with the introduction of new technologies, and at the forefront of this digital shift are NFTs – otherwise known as Non-Fungible Tokens.

NFTs can represent any kind of digital item, and in recent years have commonly been used for quirky collectibles and art work – but they now enter the sports arena in a unique way. The beauty of NFTs is the unique metadata and ownership information which is tracked via blockchain, making them a one-of-a-kind digital collectible that cannot be duplicated. As a result of their collectible nature, it’s only natural that NFTs caught the eyes of eager sports enthusiasts and die-hard fans.

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In fact, according to Deloitte research, around 40% of Gen Z and millennial sports fans are at least somewhat familiar with the use of NFTs and fan tokens in sports.

But why is that? And how can they boost engagement?

NFTs are rapidly emerging as a powerful tool for sports brands in driving deeper fan engagement and unlocking new revenue streams. This is because sports fans are, by nature, competitive and eager to own exclusive content from their much loved players, teams and brands. They want to be part of the action.

By playing on this feeling, and reinforcing loyalty among fans in this way, sports brands have a huge opportunity to take their revenue streams to new heights and gain a competitive advantage over other brands.

Imagine an athlete releases a limited-edition NFT that represents the most iconic moment in their career, such as the winning shot or a record breaking performance. Fans who own that NFT can then access exclusive content related to that moment including behind-the-scenes footage or interviews.

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There really is no limit to these tokens, and depending on the asset, they can be much sought after. As more and more sports fans embrace the digital tokens, sports brands are quickly learning that there is huge potential for fan engagement, if they continue to innovate with this technology.

 

Taking collectibles to the 21st Century

Sports memorabilia and collectibles have for centuries been a way for fans to feel more connected to their favourite teams and athletes. And now thanks to the advances of technology – more specifically, blockchain technology – fans can collect within the digital realm, gaining access to truly “own” unique digital items and experiences.

Beyond just digital art or collectibles, NFTs can also integrate the idea of gamification, exclusive content and experiences into their NFTs – allowing fans to engage more actively while unlocking new revenue opportunities.

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The possibilities are endless, extending far beyond just digital collectibles. They can provide fans with access to exclusive digital or in-person experiences, events and merch as well. Think front row seats or the chance for a meet and greet post-game.

With this, NFTs provide an excellent way for brands to diversify their revenue streams by monetising their content and intellectual property strategically.

It really is win-win, fans can own a piece of their favourite team’s history while supporting their team financially. And sports brands can benefit from more loyal fans.

 

Transforming the fan experience

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Engagement is everything to sports brands. After all, the fans are really the most important stakeholders in the end. And offering NFTs can be a powerful tool in fostering deeper engagement within fan communities. NFTs provide more innovative ways for fans to connect, prove their loyalty and gain recognition for their allegiance.

Let’s look at NBA Top Shot. NBA Top Shot is the perfect example of a blockchain-based platform that allows fans to own and collect officially licensed NBA collectibles digitally. The platform offers exclusive collectibles including videos of the biggest NBA moments and highlights.

And football teams are also following suit. Manchester City, PSG, FC Barcelona have all joined in on the NFT hype – offering their own NFT collections for keen supporters such as worn jerseys, trophies and more.

 

Sports Betting and NFTs

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And when it comes to sports betting, NFTs take the iGaming experience to the next level. Fans can purchase NFTs that represent specific bets, such as the winner of a particular game or the performance of a specific player. These NFTs can then be traded or sold, just like other NFTs, providing a new level of flexibility and excitement for betting.

The use of NFTs in the sports industry is still in its early stages, but has already shown great potential. We can expect more applications to come in the world of sports – including at Bets.io. Watch this space.

Looking ahead, the future is incredibly promising for sports brands who leverage NFTs within their business operations. Those who embrace these new powerful ways to inspire fans and forge deeper relationships with their communities, will see their efforts translate into business value.

The post NFTs and the future of fan engagement: How NFTs can boost engagement with sports brands appeared first on European Gaming Industry News.

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Raketech Announces Q1 2024 Results

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Raketech has announced its Q1 2024 financial results.

Q1 2024 Financial Highlights

  • Revenues in Q1 of 2024 totaled EUR 19.0 million (EUR 15.8 million), reflecting an organic growth increase of 20.1% (24.4%), driven by continued strong performance from sub-affiliation partially offset by weaker-than-expected results within affiliation marketing.
  • EBITDA, adjusted for restructuring costs, was EUR 5.1 million (EUR 6.1 million), impacted by a weaker performance in Sweden compared to the previous year and soft performance of the Casumba assets following the Google Core update during the quarter. Other regions and products performed well, with sub-affiliation delivering a strong quarter in terms of EBITDA contribution.
  • Operating profit, adjusted for costs related to re-structuring, amounted to EUR 2.0 million (EUR 3.8 million).
  • Free cash flow before earnouts increased to EUR 6.5 million (EUR 5.6 million) with a positive working capital development from trade receivables.
  • Earnouts settled during the quarter amounted to EUR 13.0 million.

Full-Year Outlook

Current trading, including April, implies an adjusted EBITDA of around EUR 20.0 million for the full year. Free cash flow before earnouts for the full year is estimated to come in just below adjusted EBITDA.

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Subsequent Events After the End of the Period

On May 14, 2024, the board decided to withdraw its previously announced proposal to distribute dividends in 2024, in line with its commitment to maintaining financial flexibility and supporting the company’s long term growth ambitions. The primary focus is delivering value to shareholders and continuing to evaluate opportunities to enhance shareholder returns in a way that aligns with the Company’s long-term value-creation objectives.

Current Trading

Revenues in April 2024 amounted to EUR 5.9 million (EUR 5.9 million).

Raketech Acting CEO Johan Svensson said: “In the first quarter of 2024, we delivered EUR 19.0 million in revenues, representing an organic increase of 20.1%, primarily driven by Sub-affiliation. Adjusted EBITDA came in at EUR 5.1 million, while EBITDA was EUR 4.3 million, consistent with our trading update published on 1 May. We remain confident in our market-leading product offerings and see promising growth opportunities through our strategic initiatives in sports offerings, exclusive partnerships, and media deals. These efforts will position us well for continued growth in the coming years, and we remain committed to maximizing shareholder value.”

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The post Raketech Announces Q1 2024 Results appeared first on European Gaming Industry News.

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Offering comprehensive coverage on all aspects of the gaming sector, our daily posts include online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

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