Author: OnlineGamblingDaily

International Game Technology (IGT) announced Thursday that its wholly owned subsidiary IGT Lottery has completed the sale of its Italian proximity payment business to PostePay S.p.A for EUR 700 million ($699.2 million). The negotiated sale price of the Italian commercial payment business represented an enterprise value of EUR 630 million ($629.3 million) and approximately EUR 70 million ($69.9 million) of net unrestricted cash. The business held approximately EUR 140 million ($139.8 million) in unrestricted cash at the closing. “The increase in unrestricted cash is primarily attributable to the timing of vendor payments and operating cash flows generated since December 31,…

The American Gaming Association is launching a new toolkit to fight illegal gambling. This solution, called the Stop Illegal Gambling Toolkit, includes turnkey messaging, factsheets and social media content. The resources are aimed to help the legal industry consistently communicate and support engagements on the issue. The toolkit was unveiled on Thursday, by AGA CEO Bill Miller, who released a statement addressed to gaming colleagues. The communications toolkit is set to spur action in the fight to shut down illegal actors and is aimed to ensure the legal industry “speaks with one voice” about the harm illegal gambling creates. “Illegal…

Gaming giant Caesars Entertainment announced Wednesday the launch of the Caesars Sportsbook & Casino Truck, hitting the road “on a nationwide tour to reach sports fans.” The truck tour is described as “an expansive fan engagement campaign” featuring a fully branded 18-wheeler traveling across the US. It will be making its debut on September 19 in Orchard Park, New York, for the Monday Night Football home opener of Buffalo against Tennessee.  “The cutting-edge truck will stop at the biggest sporting events and select Caesars’ destinations to provide unique fan experiences,” the company said. At the New York debut, Caesars Sportsbook will…

A panel discussion on whether Atlantic City should ban smoking is being scrapped after Resorts Casino President Mark Giannantonio — who has recently become head of the Atlantic City casinos’ trade association — pulled out. The cancellation means that the East Coast Gaming Congress, which had scheduled the panel for its upcoming edition this month, will now lack any discussion on ending indoor smoking.  The news comes as New Jersey casino employees continue their push in favor of the indoor smoking ban, which remains a contentious issue in various states. In the case of the Garden State, the Governor and more…

Gaming test lab and product certification consultancy BMM Testlabs announced Wednesday the launch of its newest venture – the BMM Innovation Group “BIG”. The BMM Innovation Group provides services centered around technology, cybersecurity, information, and virtual educational services for the global gaming industry and groups previously established businesses BIG Cyber and RG24seven. BMM Testlabs is pleased to introduce its newest venture – The BMM Innovation Group ‘BIG’. https://t.co/uW17DBJ8Fc — BMM Testlabs (@BMMTestlabs) September 14, 2022 Martin Storm, BMM’s CEO, said: “As the business landscape inevitably changes and we all continue to grow and evolve, we begin to face new challenges.…

iGaming content provider Pragmatic Play announced Thursday the release of its new Egyptian-themed slot, Book of Golden Sands, which features up to 729 ways to win.  Played across 6×3 reels, the title is home to high-paying symbols depicting Ancient Egyptian gods, Cleopatra and snakes among others that must form matching combinations. Wild symbols also fill the reels with a multiplier of 2x or 3x attached to them. These substitute all symbols in game except the scatter symbol, making it easier for players to unlock wins. Landing three or more book symbols in the base game unlocks the free spins round.…

Developer and operator Full House Resorts is set to celebrate the “topping off” of its Chamonix Casino Hotel project on September 21 in Cripple Creek, Colorado. The long-standing tradition will commemorate the placement of a construction beam at the highest point of the construction. The construction team, joined by local dignitaries, will then enjoy a luncheon at the property, inaugurating the still-being-constructed ballroom of the new casino hotel. “Chamonix will bring a new level of elegance and comfort to Cripple Creek upon its opening in mid-2023,” Full House says. Adjoining and connected to the company’s existing Bronco Billy’s Casino, Chamonix…

The Indiana Gaming Commission released Monday its financial results for August. During the month, retail and online sportsbooks handled $238 million in bets, a 14.1% increase from July’s $206.6 million and a 9.9% increase year-over-year from the August 2021 total of $215.6 million. The favorable figures put an end to a four-month streak of decreasing monthly handles. According to the latest report, Indiana retail and online bookmakers generated $25.4 million in taxable revenue. With Indiana’s taxable rate for operators at 9.5%, it translated to $2.4 million in taxes for the state. During the first eight months of 2022, Indiana sportsbooks have accepted $2.7 billion in…

Online casinos are an internet version of traditional casinos that you can access anywhere as long as you have an internet connection. The convenience is why they have grown rapidly in popularity over the years, and they differ massively from inland casinos for many reasons. Whether in the comfort of your own home or traveling the world, you can play online if you have an internet connection. Another reason is that they have a much wider variety of games than inland casinos. Most online casinos offer 24/7 around-the-clock support with the live chat option, which is great for people who…

The amazing run for US gambling operators continued into the summer, with the month of July producing nearly a 3% increase in profits from the previous year. Those numbers made it the third highest month for gross profits of all time, according to data from our friends at the American Gaming Association. Profits for retail gambling in America just crept over the $5 billion mark in July, making it the 4th month this year to see such numbers. That means we should see another record setting year for US gambling, as the latest numbers bring year-to-date revenue numbers to well…

Gambling giant Kindred Group is providing an update on the company’s strategic direction, operations and financial performance. The firm is presenting a bold financial target for 2025 of revenue above £1.6 billion ($1.8 billion), an underlying EBITDA margin of 21-22%; a distribution policy of ~75-100% free cash flow (after M&A). The 2025 expected revenue figure would be 27.1% higher than its total revenue for 2021. CEO Henrik Tjärnström and CFO Johan Wilsby will address the new targets at a Capital Markets Day in London. During the event, to be held today (Wednesday), the CEO and members of the management team…

New Jersey lawmakers are weighing the extension of online wagering into the 2030s, with an Assembly committee set to discuss the issue this week. While the Garden State legalized internet wagers in 2013, the bill set the expiration date at late 2023. The new legislation would push that deadline back to 2033. “I think it’s critical for the properties here, to keep them open and to keep those jobs open,” said Assemblyman Don Guardian (R-Atlantic), a co-sponsor and former Atlantic City mayor, as reported by New Jersey Monitor. According to the Assemblyman, the sunset date could hamstring development by casinos…

The European Gaming and Betting Association (EGBA) has published the first ever pan-European, self-regulatory guidelines to strengthen anti-money laundering (AML) efforts of Europe’s online gambling operators. The move is set to support the sector’s contribution to the fight against money laundering, with EGBA saying that the publication of the guidelines continues its commitment to promoting “the highest level of industry responsibility.” As per the announcement, the EGBA guidelines on fighting money laundering and terrorist financing contain “best practice industry standards,” which online gambling operators should apply across their entire EU and EEA operations. The guidelines apply a risk-based approach and include…

Seven companies have submitted their tenders for Macau’s six gaming concessions. The list of firms vying for the 10-year licenses includes the city’s six current operators –Wynn Macau, Sands China, MGM China, SJM Holdings, Galaxy Entertainment and Melco Resorts– and a seventh company, GMM Limited, part of the Genting Group. Malaysia-based GMM Limited, which local media describes as having substantial experience in its home country’s gaming industry, made a last-minute submission on Wednesday. Bidders delivered their tenders in outsize boxes to the offices of the Gaming Inspection and Coordination Bureau, with the opening of each proposal set for Friday, according…

Gaming Innovation Group (GiG) announced Wednesday it has received interim authorization from the Pennsylvania Gaming Control Board (PGCB), allowing it to do business in the US state as an interactive gaming manufacturer. Under the terms of the agreement, GiG can now offer its Player Account Manager (PAM) services and Sportsbook in the region. In a press release, the company stated that it now holds over four years of experience in the US, and currently serves 26 regulated markets. It furthermore added that it has another 9 markets “in the pipeline.”  We have been granted authorisation to do business in Pennsylvania, allowing…

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