Connect with us
Atlaslive is a robust, scalable, and reliable igaming platform that supports the growth of our partners’ business by ensuring 99.9 percent uptime, one of the best in the industry.

Africa

Phumelela Enters Business Rescue

Published

on

Reading Time: < 1 minute

 

South Africa’s largest horse racing operator, Phumelela Gaming and Leisure, has entered voluntary business rescue to ensure the long-term survival of the company.

Phumelela has not been able to stage race meetings since the end of March due to the lockdown. This has hurt its revenue from racing and betting, the company said in a statement.

“… the best option to ensure the long-term survival of the company and the sport of horse racing, is to implement a business rescue plan,” Phumelela said.

Advertisement
Stake.com

South Africa’s business rescue process, which aims to shield a business from the demands of its creditors while an independent advisor attempts to turn it around, borrows from U.S., British, Canadian and Australian law.

But business rescue is uniquely South African in terms of its timetable, ranking of preference among stakeholders and the involvement of labour.

On March 26, President Cyril Ramaphosa imposed a five-week lockdown to curb the spread of coronavirus. Non-essential activities including sports and entertainment were forced to suspend operations.

Most of the restrictions on leisure, entertainment or anything that requires mass gathering are still in place under a partial lifting of lockdown that was put in place from May 1.

National Horseracing Authority CEO, Vee Moodley, said the industry, “which is on the verge of collapse,” is asking the government to give it permission to resume controlled closed horse racing during level 4 lockdown restriction in order to save the majority of the 60,000 jobs.

Advertisement
Stake.com
Continue Reading
Advertisement

Africa

Meridianbet (Golden Matrix Group) Granted South African Sports-Betting License

Published

on

meridianbet-(golden-matrix-group)-granted-south-african-sports-betting-license
Reading Time: < 1 minute

 

Golden Matrix Group, a leading developer and licensor of online gaming platforms, systems, and gaming content, has announced that its subsidiary, Meridianbet, has been granted a sports-betting license in South Africa.

The Western Cape Gambling and Racing Board issued Meridianbet a Bookmaker License, a Bookmaker Premises License and a Manufacturer License.

These licenses will enable Meridianbet to operate online sports betting across South Africa, showcasing the company’s regulatory compliance and fit-and-proper status within South Africa’s stringent licensing regime. The Manufacturer License also permits Meridianbet to license its proprietary sports betting software within the Western Cape region.

Advertisement
Stake.com

Expansion into South Africa

“We are thrilled to enter the South African market, and this new license presents a significant opportunity for us to continue to scale our operations,” said Zoran Milosevic, CEO of Meridianbet. “Expanding our reach into South Africa will provide new opportunities to grow our user base in an entirely new jurisdiction, underscoring our ongoing commitment to growing our industry-leading brands around the world.”

A Growing Market

The South African digital gambling market has exhibited significant recent growth, with total revenue projected to reach $828.50 million by the end of 2024, according to Statista. The market is expected to grow at a compound annual growth rate (CAGR) of 5.77% from 2024 to 2029, resulting in a projected market volume of $1.1 billion.

Market Impact and Economic Contribution

Advertisement
Stake.com

This market expansion supports Meridianbet’s consistent operational growth and dedication to innovation within the global iGaming sector. The South African market is positioned as a significant player in the global landscape, with the sports-betting sector contributing significantly to the country’s economy, accounting for 50% of gross gambling revenue. In the 2023 fiscal year, gross gambling revenue (GGR) in South Africa totaled $2.42 billion, according to Moneyweb.

The post Meridianbet (Golden Matrix Group) Granted South African Sports-Betting License appeared first on European Gaming Industry News.

Continue Reading

Africa

INCENTIVE GAMES PARTNERS WITH ODIBETS TO RELEASE NEW SUITE OF CRASH GAMES

Published

on

incentive-games-partners-with-odibets-to-release-new-suite-of-crash-games
Reading Time: < 1 minute

 

OdiBets, one of Africa’s largest and most trusted betting operators announces new partnership with leading B2B games provider and acquisition and retention specialists, Incentive Games.

Through this collaboration, Incentive Games will integrate their bespoke Velocity crash games system to OdiBets’ platform, launching in the summer of 2024.

The launch will encompass a dynamic mix of gaming options, including:

Advertisement
Stake.com
  • Free-to-play Velocity crash game: This engaging format will allow players to experience the excitement of crash gameplay without financial risk.
  • Several pay-to-play crash games: OdiBets’ customers will have access to a selection of thrilling pay-to-play crash games, offering a chance to win cash prizes.

Incentive Games’ expert developers have meticulously crafted this suite to seamlessly align with OdiBets’ platform, guaranteeing a smooth player experience. Once live, the Incentive Labs team – a dedicated group of R&D, data, and AI specialists – will work behind the scenes to analyse user behaviour and preferences. This allows for ongoing optimisation and personalisation, ensuring OdiBets’ players receive the most engaging and rewarding crash game experience.

John Gordon, CEO of Incentive Games, said, “We are delighted to partner with OdiBets, a leading force in the African gaming market. Their commitment to providing an exceptional player experience aligns perfectly with our vision at Incentive Games. We’re confident that our innovative crash games will provide an entirely new level of entertainment and help solidify their position as a top gaming destination in Africa.”

Wilson Gichuki, Head of Product at OdiBets, said, “We are thrilled to join forces with Incentive Games. Their expertise in gamification will significantly enrich our platform, offering our users more interactive and enjoyable betting experiences. This alliance aligns with Odibets’ goal to deliver cutting-edge gaming solutions and diversify its entertainment options for its customers and the gaming industry.”

The post INCENTIVE GAMES PARTNERS WITH ODIBETS TO RELEASE NEW SUITE OF CRASH GAMES appeared first on European Gaming Industry News.

Continue Reading

Africa

Booming Games and Aardvark Technologies Announce Strategic Partnership

Published

on

booming-games-and-aardvark-technologies-announce-strategic-partnership
Reading Time: < 1 minute

Booming Games, a leading slot provider in the gaming sector, has announced a strategic partnership with Aardvark Technologies. This collaboration combines Booming Games’ innovative game creation approach with Aardvark’s expertise in commercial development to enhance the gaming landscape in Africa.

This partnership reflects our commitment to delivering exceptional gaming experiences to players. By integrating Booming Games’ cutting-edge titles into Aardvark’s platform, we aim to provide a diverse and immersive gaming experience for their customers.

The companies are dedicated to redefining the gaming experience and setting new standards of excellence. Together, they look forward to offering players a wide range of top-tier gaming content, ensuring thrills, excitement, and endless possibilities.

Arijus Denisovas, Commercial Director at Aardvark Technologies, expressed his enthusiasm for the partnership with Booming Games, stating: ‘Booming Games has showcased a remarkable commitment to innovation, a value that deeply aligns with our ethos at Aardvark. It’s crucial for us to consistently integrate high-quality and immersive content to provide our customers with the finest gaming experiences, enabling them to present top-tier games to their players.’ This collaboration underscores our collective dedication to elevating the gaming industry and delivering exceptional entertainment to players worldwide.

Advertisement
Stake.com

Solomon Godwin, Head Africa at Booming Games, said: “We’re thrilled to welcome Aardvark Technologies to our ever-expanding client base in Africa. Booming Games supply Casino games to leading operators in the most highly regulated markets in Africa. With players’ entertainment, protection and sustainability being top priorities for Booming Games, this partnership represents an excellent opportunity for us to expand our presence on the continent.”

The post Booming Games and Aardvark Technologies Announce Strategic Partnership appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

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.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Gaming News Room is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania