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Gaming Innovation Group reports Q4 2020

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Gaming Innovation Group Inc. (GiG) reports Q4 2020 revenues of €17.3 million and an EBITDA of €4.1 million.

Richard Brown, CEO of GiG comments: “2020 has seen some significant milestones accomplished in GiG’s journey to become a leading B2B platform and media supplier in the iGaming industry and the fourth quarter continued to demonstrate the results of actions taken through the year by delivering yearly growth in normalised revenues and EBITDA  by 19% and 212% respectively”.

Financial Highlights

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  • Revenues in Q4 2020 were €17.3m (10.4), up 66% from Q4 2019, all organic growth
  • Normalised revenues were €14.2m (10.2), an increase of 38%
  • EBITDA in Q4 2020 was €4.1m (0.1), up 4431%, normalised EBITDA margin increased to 29.2% (0.9%)
  • For the full year 2020, normalised revenues was €52.2m (43.8) a 19% increase from 2019, with an EBITDA of €10.7m (3.4) a 212% increase from 2019
  • Revenues in Media Services improved to €9.0m (7.5) in Q4 2020, an increase of 20%,with an EBITDA of €4.3m (4.0)
  • Normalised revenues for Platform Services were €4.9m (4.2), up 19%, with a positive EBITDA of €0.2m (-1.4)
  • EBITDA for Sports Betting Services was €-0.3m (-1.8) an improvement of €1.5m, driven by a 78% reduction in operating expenses
  • To further expedite revenue generating activities, enhance future growth and strengthen the cash position, a €8.5m subordinated convertible loan was issued in December

Operational Highlights

  • The sales pipeline developed positively, and four new agreements were signed for Platform Services in the fourth quarter, adding to a total of 14 in 2020, whereof 4 is casino and sportsbook and 10 casino only
  • GiG’s platform went live with two clients in the fourth quarter, and the integration pipeline included 14 brands as of year end 2020
  • The strategic decision to remove the white-label business entered final phases and was a driver in the flat revenue QoQ but improved the EBITDA margin
  • Media Services experienced positive developments in the quarter, finishing off the year with all-time high revenues in December. Player intake was strong, with FTDs up 36% YoY and 9% QoQ
  • Sports Betting Services restructuring completed, placing Sports Betting Services in a sustainable position for growth and strategic partnerships
  • Restructuring completed with comparable operating expenses reduced by 25% YoY, the Company now have a sound cost base for operational improvement going forward

Events after Q4

  • Signed a long-term platform agreement with Playstar to support their entry into the expanding US iGaming market
  • Signed a LOI with an established German facing iGaming operator, for the provision of  platform technologies to power their new online casino.
  • Awarded ISO 27001:2021 certification for its frontend development solution and content management system
  • GiG Media delivered another all-time high in revenues in January corresponding with another all-time-high in FTD’s referred
  • One brand went live so far in 2021, with two additional expected in Q1-2021
  • January has developed positively and normalised revenues are up 40% compared to the same period last year

Investor presentation and webcast

CEO Richard Brown will present the Q4 2020 results today via livestream at 11:00 CET. The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

Link to the livestream:
https://www.redeye.se/events/803325/live-q-gaming-innovation-group-feb-23rd

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USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements

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USDT Casino has unveiled a groundbreaking promotion that is set to transform weekend gaming for cryptocurrency enthusiasts. The innovative ‘Sunday Brunch Free Spins’ offer provides players with 20 free spins on Evoplay’s popular Food Feast slot, featuring zero wagering requirements and no maximum win limits.

This player-centric initiative marks a significant departure from traditional casino promotions, offering unprecedented flexibility and instant cashout capabilities for USDT players.

The promotion, available every Sunday, targets active players who have made at least one deposit during the previous week, with a minimum qualifying deposit of $20 USDT required to participate.

Key features of the Sunday Brunch Free Spins include:

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  • 20 Free Spins on Food Feast by Evoplay
  • Zero wagering requirements on all winnings
  • No maximum win limits
  • Instant cash rewards
  • Available exclusively for USDT players
  • Simple claim process via 24/7 Live Chat

The promotion demonstrates USDT Casino’s commitment to providing enhanced value to its crypto-focused player base while eliminating common friction points associated with traditional free spin offers.

Industry-Leading Player Benefits

Unlike conventional casino promotions that typically impose 35x-50x wagering requirements, USDT Casino’s Sunday Brunch Free Spins allows players to keep 100% of their winnings immediately. This approach aligns with the broader industry trend toward transparency and player-friendly terms.

The seamless claim process through Live Chat ensures instant reward delivery, eliminating delays commonly associated with promotional offers. Players can simply contact support on Sundays to receive their spins, with no additional verification steps required.

Setting New Standards in Crypto Gaming

USDT Casino’s innovative promotion arrives as the crypto gaming sector continues to evolve, with operators seeking differentiation through unique player offerings. The Sunday Brunch Free Spins program positions USDT Casino as a forward-thinking operator focused on customer satisfaction and retention.

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The promotion’s recurring weekly structure encourages consistent player engagement while rewarding loyalty without complex tier systems or restrictive conditions.

Michael Thompson, Head of Promotions at USDT Casino, stated, “Our Sunday Brunch Free Spins represent our commitment to creating genuine value for our players. By eliminating wagering requirements and win limits, we’re delivering an authentic, player-first experience that sets new standards in the crypto casino space.”

The promotion is now live and available every Sunday, with USDT Casino reserving the right to modify terms as needed. Players must agree to the casino’s fair play policy and promotion terms to participate.

About USDT Casino: USDT Casino is a leading cryptocurrency casino platform specialising in Tether (USDT) gaming solutions. The platform offers seamless crypto transactions, instant withdrawals, and a diverse game portfolio tailored for the modern digital gambler.

The post USDT Casino Launches Industry-First ‘Sunday Brunch Free Spins’ with Zero Wagering Requirements appeared first on European Gaming Industry News.

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UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector

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The UK Gambling Commission (UKGC) has issued a warning about the growing threat of money laundering facilitated by artificial intelligence technologies, including deepfakes, and the rising use of crash games. As part of its regulatory mandate, the UKGC requires licensed operators to stay ahead of evolving cybersecurity risks or risk incurring fines and even losing their licenses. With AI-powered deception on the rise, the Commission urges tighter security protocols across all operator systems.

The need to tighten security 

Artificial intelligence has become more sophisticated, and some users are taking advantage of this to bypass due diligence checks. Players registering on mobile casino platforms are typically required to provide identity documents as part of KYC procedures under AML regulations. However, deepfake technology is now being used to bypass these verifications.

Criminals now use artificial intelligence to create deepfake videos, false documentation, and face swap images to facilitate money laundering. This is why the UK Gambling Commission has stated that all operators in the UK must work fast to retrain employees in assessing customer documents.

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In addition to AI threats, the UKGC continues to classify cryptocurrency as a high-risk channel for laundering illicit funds. Operators are reminded that all crypto transactions must be treated with enhanced due diligence, given their anonymity and growing association with financial crime.

The Commission also raised concerns over the rising popularity of crash games typically found on both licensed and unlicensed crypto casino platforms. Their short duration and rapid cash-out mechanics make it difficult for platforms to detect suspicious patterns, creating opportunities for high-risk laundering behavior to go unnoticed.

All operators were advised to implement appropriate procedures to identify suspicious patterns during the crash games. The UKGC shared an update that revealed that remote and non-remote casinos were providing unlicensed money service business facilities to third parties. These businesses included foreign currency exchange, with some customers attempting to deposit large denominations, such as 500-pound bills.

The Body considered such transactions a money laundering risk. It also noted that some individuals have been offered money to use their personal details to open multiple gambling accounts for criminals. This has been a source of concern for the commission as these accounts are being paid for without the third parties, knowing that they act as unlicensed betting intermediaries.

So far, two operators have been penalized for anti-money laundering and customer care failures. The erring operators were ordered to pay 375,000 pounds for AML breaches, while the bookmaker was fined 686,070 pounds.

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The UKGC also warns operators to avoid supply partners connected to illegal sites. This came from the observation that games developed by operators with software licenses were ending up on unlicensed websites. The UKGC warns that operators connected to black market supply chains may face direct penalties even if indirectly involved. As such, due diligence on third-party content providers is now not just advisable, but essential. These developments underscore a broader industry challenge: maintaining regulatory compliance amid fast-evolving digital threats.

The post UK Gambling Commission Flags Deepfake-Fueled Money Laundering Threats in Online Gambling Sector appeared first on European Gaming Industry News.

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Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S.

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Sweepstakes gaming has become very popular in the United States, as it provides individuals with the opportunity to win prizes without the need for a purchase. As opposed to traditional gambling, which has been highly regulated, sweepstakes gaming operates under the gray area of the law, and as a result, it runs in a varied regulatory environment. As this form of entertainment continues to evolve, it is significant for operators, players, and policymakers to understand the regulatory challenges in order to shape its future.

Understanding Sweepstakes Gaming

Sweepstakes gaming allows users to participate in games and contests in which prizes are won. Sweepstakes are a bit different from traditional gambling. In normal gambling, individuals gamble money in hopes of winning, while in sweepstakes, you do not typically have to purchase anything for entry. The growth of new sweepstakes casinos platforms offering casino-style gameplay through promotional credits and free-entry mechanics has expanded the reach of the sweepstakes model, attracting users seeking low-risk entertainment alternatives.

However, the legitimacy of sweepstakes gambling differs from state to state, and all these various regulations form a set of laws that are confusing to both the operators and the players. New sweepstakes casinos typically have to contend with such convoluted regulation, as there are multiple regulations at the state level to comply with. This inconsistency could be challenging for operators to implement and may limit players from accessing this new and creative gaming experience.

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The Future of Sweepstakes Gaming in the U.S.

In spite of the regulatory hurdles, there are possible avenues that can potentially unlock a brighter future for sweepstakes gaming in the U.S.

  • Standardization of regulations

Nowadays, the legislation is different. Each state has different definitions, rules, and prerequisites for sweepstakes. This lack of uniformity can keep operators from entering the marketplace and confuse players about their rights and responsibilities. By promoting interstate collaboration to develop standardized regulations, the industry would benefit from more transparent compliance channels that make it easier to conduct business for emerging sweepstakes casinos. A standardized regulatory landscape would not only reduce legal uncertainties but also optimize consumer confidence, ensuring an open and fair gaming environment.

  • Innovation in Compliance

Compliance innovation involves using new solutions and technology to make the regulations of sweepstakes gaming simpler or better. As there is evolution in the industry, the traditional methods of performing compliance might no longer apply, hence becoming a hindrance in the manner in which operators comply with diverse state regulations. New solutions like blockchain and artificial intelligence can be explored to enhance transparency and accountability in sweepstakes gaming.

  • Consumer Education

Consumer education involves the offering of understandable, clear information to players about their rights, responsibilities, and types of games played. As the industry expands, it is very crucial to educate consumers so they know how the sweepstakes are conducted, the rules of play, and the possible risks. Educating players so they are well-informed will enable operators to build trust and achieve responsible gaming practices. Effective consumer education can diminish confusion regarding sweepstakes, resulting in a more secure and transparent gaming experience

The post Regulatory Roadblocks: The Future of Sweepstakes Gaming in the U.S. appeared first on European Gaming Industry News.

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