Betsson subsidiary appeals €300k Dutch fine

first_img Corona Ltd, a subsidiary of Betsson Group, has appealed a fine issued by the Netherlands Gambling Authority (KSA) for operating in the country without the relevant licence. Last month, Corona was fined €300,000 (£267,100/$349,100) after the KSA completed an investigation into the firm and its Oranje and Kroon brands. The KSA had also probed other Betsson entities but did not uncover any further violations and no other action was taken. At the time, Pia Rosin, vice-president of corporate communications at Betsson, told iGamingBusiness.com Corona was able to appeal the ruling, and it has now been confirmed that the company has opted to pursue this option. In a statement, Corona said it “maintains its prior position that its operations comply with applicable laws and regulations in the absence of an EU-compliant gambling legislation in the Netherlands”. Should Corona fail in its appeal with the regulator, the company intends to refer the matter to a court of law. “Pending the procedures, the sanction will not become irrevocable,” Corona added in its statement.  Pontus Lindwall (pictured), chief executive of Betsson, also said: “Betsson share KSA’s ambition to achieve a high channelisation of customers into a future locally regulated environment in the Netherlands.”Betsson did not immediately respond to a request from iGamingBusiness.com to comment further on the story. Betsson acquired Corona in 2014 in anticipation of the re-regulation of the Dutch online gaming market, which had been scheduled to take place 2015. However, while the lower house of the Dutch parliament approved the Remote Gaming Bill in 2016, this is still awaiting Senate approval. In June, the country’s coalition government stated its intention to push ahead with the process, with the aim of introducing new regulations by 2020. Legal & compliance Betsson subsidiary appeals €300k Dutch fine Corona was rapped for operating without a local licence Regions: Europe Western Europe Netherlands 11th September 2018 | By contenteditor Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Subscribe to the iGaming newsletter Topics: Legal & compliancelast_img read more

Pierre Lindh at iGaming NEXT 2019

first_img Pierre Lindh, managing director of Ambassador Events, discusses the sucess of the 2019 iGaming NEXT event and how the event fits into the landscape of the industry. 10th October 2019 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Pierre Lindh at iGaming NEXT 2019 Subscribe to the iGaming newslettercenter_img Tech & innovation Topics: Tech & innovation Email Addresslast_img

Enlabs reports record revenue again in Q3

first_img Subscribe to the iGaming newsletter Enlabs reports record revenue again in Q3 AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 5th November 2019 | By Daniel O’Boyle Topics: Casino & games Finance Sports betting Regions: Europe Baltics Estonia Latvia Lithuania Casino & games Tags: Online Gambling Sweden-based, Baltic-facing operator Enlabs posted record revenue for the third consecutive quarter, breaking the €10m(£8.6m/$11.1m) barrier for the first time. Email Address Sweden-based, Baltic-facing operator Enlabs posted record revenue for the third consecutive quarter, breaking the €10m(£8.6m/$11.1m) barrier for the first time.The operator’s total revenue was up 32% year-on-year. Of this, €9.2m came from gaming revenue, up 39% year-on-year, on €194.8m worth of wagers.Robert Andersson, chief executive and group president at Enlabs said he was proud to again see a record quarter for the company after similar success in the first and second quarters of this year.“It never gets old starting with my opening line ‘Our best quarter yet,’” Andersson said.Casino gaming made up the majority of gaming revenue, at €5.7m, up 58% year-on-year, on €146.2m worth of stakes. Betting revenue came to €2.9m on a €32.6m handle, a 7.4% revenue increase from Q3 of 2018, which included the latter stages of the 2018 FIFA World Cup. Poker revenue doubled to €600,000.Of the company’s remaining revenue, €603,000 came from media revenue, consisting of advertising revenue and revenue shares for players directed to other operators. The figure marked a 12% year-on-year decrease.Solutions revenue came to €271,000, a 15% decrease, with €287,000 from external sales but a loss of €16,000 through internal sales.The Baltic region made up the vast majority of the company’s revenue, at 94%.Enlabs paid €2.7m in direct operating costs, a 35.2% year-on-year increase. Costs of services sold were the largest direct operating cost, up 34.6%. The company paid €939,000 in gaming taxes, up 36.3% from last year, leaving a gross profit of €7.4m.Other operating expenses came to €4.3m, up 34%, with staff costs the largest contributor at €2.1m, up 17.8%. Marketing costs increased 62.7% to €1.7m while other expenses increased 7.6% to €995,000. However, the company made a profit of €597,000 on capitalisation, also counted as an operating expense, bringing earnings before interest tax depreciation and amortisation to €3.1m, a 27.2% increase.Enlabs lost €541,000 to depreciation, down 7.5%, bringing operating profit to €2.6m, up 38.2%. The company posted a €20,000 net financial loss for a pre-tax profit of €2.5m, up 37.8% from 2018.After receiving a net tax refund of €20,000, Enlabs’ total profit came to €2.6m, a 39% increase from 2019.Andersson said that the operator’s success was especially pronounced in September and so he anticipates further growth in the fourth quarter of the year and into 2020.“Now, we are preparing the organisation for the next phase of aggressive growth – executing plans to launch new brands on our new platform and entering new markets,” Andersson said. “2020 will certainly be an even more exciting year in company history.”last_img read more

Risky business: how humans are vulnerable to cyber crime

first_img Ahead of the return of TV show Hunted this week, one of its hunters told a panel at ICE that cyber criminals are increasingly targeting humans rather than networks and that this has implications for igaming.It’s long been normal practice for organisations to look at candidates’ social media activity to determine their suitability before hiring them and also to monitor this once they’ve joined the team.Obviously if someone is posting about illegal drug use or expressing offensive views it’s going to count against them either becoming or remaining employed.But even the more mundane and seemingly innocuous sharing of information online can pose a big risk to businesses, the audience heard at last week’s cybercrime keynote session at ICE.The dangers of our oversharing culture
 Ben Owen, the cyber-security consultant dubbed ‘the Boss’ on UK broadcaster Channel Four’s gameshow Hunted, said the trend towards oversharing among employees had big implications for igaming firms.“We live in a world now where fortunately or unfortunately, however you look at it, we put our breakfast, lunch and dinner on social media,” he said.“We give away too much information. It’s great for us because that is what we’re paid for, to exploit and find the loopholes, really bad for businesses and individuals that are concerned about their business and personal security.”On Hunted, a show where contestants have to try to evade capture for up to 28 days, though the team do use physical tools such as CCTV, Owen said 90% of fugitives were caught because of information found in the digital space.And while Hunted may be just a television show, the ease with which the investigators can get a “digital window” into contestants’ lives is something criminals have also picked up on, said Owen.He said that very quickly criminals can now carry out a “pattern of life” analysis that tells them where a person lives, who is in their family, what car they drive, what route they take to work and what pub they drink in, among other thingsThey can then use the information to blackmail targets to carry out cyber attacks at their workplaces.For example, they might tell a target to, “go to a piece of hardware and plug a USB stick in, because if they don’t we will tell their wife or husband something that the wife or husband might not know.“It is used universally across the globe by spy agencies – it is a well-known tactic – and it absolutely works in this environment as well.”Shift in approach
 Ironically, it is in part the sophistication of the igaming industry that has led criminals to favour such tactics.“In the gaming industry, of course you employ the best IT individuals you can possibly get your hands on, you are going to have the bet software, the best tools, the best IT equipment you can have.“So really if I am an adversary, I am not going to go through the conventional route of trying to hack into your systems. It is going to be too difficult unless I get really lucky,” said Owen.“What we are finding more and more now is that hackers and adversaries are becoming a lot more complex and a lot more shrewd.“They are getting the inclination to find that back route into that organisation. They don’t want to do the approach via cyber networks because networks and IT experts are getting much better year on year.”Data risk
 One common back route used by criminals is to purchase hacked subscription lists. In his presentation, Owen gave as one example his own previous membership of a flexible gym serviceHe demonstrated that he had been able to buy online both his email address and password for the service, which had been breached.“The more we subscribe to, the more vulnerable we are, the less we have control of our data. We could sign up for 10 social media sites or online subscriptions but we don’t know what the organisations are doing with that information. In this instance they weren’t doing very well.He said it was common for subscription lists to be breached and that breach lists could be purchased by criminals from dump sites for as little as £1.50.Commonly, they then use that information to extort money from individuals, he said. Typically they email targets to let them know they have their email address and password and suggest they also have incriminating webcam footage of the target that they will release online unless a ransom payment is made, usually in bitcoin.“Most people just pay it because they think, well how have they got my email address and how have they got my password? It must be legitimate. And they are just chancers. They will do it in bulk and send it out to 200 people.”Indeed, in early 2019 cybersecurity software firm Symantec said it had seen a revival of this type of email extortion since mid-2018. In the first five months of 2019 alone, it said it had blocked 289 million such extortion attempts.In the US, the FBI Internet Crime Complaint Centre’s 2018 Internet Crime Report said the agency had received more than 50,000 complaints about this type of extortion attempt, a 242% rise on the previous year. It said consumers had lost more than $83m to these scams, typically handing over virtual currency.“The majority of extortion complaints received in 2018 were part of a sextortion campaign in which victims received an email threatening to send a pornographic video of them or other compromising information to family, friends, coworkers, or social network contacts if a ransom was not paid,” the report said.Business implications
 It would be easy to assume that if such scams affected igaming employees, it would be on a personal level, but Owen said the increasing crossover between work and personal lives means it also has implications for businesses.“You will find more and more now people are using their corporate emails to subscribe and sign up for personal accounts online because they think it is obfuscation, just using work mails, and that is where it becomes really difficult for organisations to keep it clean and sanitise the work versus the personal.”If a criminal wants to target a company, it can simply search the company for breaches. “If I wanted to look at an organisation, I could look and scan that whole domain, say joebloggs.com, so I can find whoever has been breached in that organisation. It gives me a list of who has been breached and what emails they are using and their passwords.”Worryingly, Owen’s search on a number of casino domains threw up a large number of breaches: 58 at Hippodrome Casino, 83 at Genting Casinos and an alarming 1,458 at the Venetian.Owen said it was imperative that gambling companies invested more in assessing the human component of the cyber risks faced by their business and that any vulnerabilities should be addressed immediately.“As organisations we just need to be really mindful about human vulnerability. Yes, we can spend millions of pounds on recruiting the best IT experts, getting a really good leadership team in place, getting the best tools on the market, but what about the individuals that work there?“A full cyber threat assessment should be undertaken with a view on the people and not the technology. Humans are fallible.” 11th February 2020 | By contenteditor Risky business: how humans are vulnerable to cyber crime Ahead of the return of TV show Hunted this week, one of its hunters told a panel at ICE that cyber criminals are increasingly targeting humans rather than networks and that this has implications for igaming. By Joanne Christie AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresscenter_img Subscribe to the iGaming newsletter Topics: Casino & games Legal & compliance People Tech & innovation Tags: Mobile Online Gambling Casino & gameslast_img read more

22 April: Where’s the action?

first_img Email Address Sports betting Tags: Mobile Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 22 April: Where’s the action? 22nd April 2020 | By contenteditorcenter_img Topics: Sports betting iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic. iGB, in partnership with sports data specialist Abelson Info, is providing an updated list of the sporting events taking place each weekday throughout the novel coronavirus (Covid-19) pandemic.This will ensure our readers have a regularly updated roster of the sporting events happening that day. A full table of the day’s action can be found at the bottom of the page.Badminton Today’s round-up kicks off with badminton, and Armenia’s Infinity Cup.Baseball The baseball action in the next 24 hours is happening in China, with the Professional Baseball League and its reserves, and South Korea, where the Baseball Championships’ pre-season continues.Darts The Czech Republic’s Premier League joins the darts schedule.Football Nicaragua’s Premier League moves into the play-off stages, with Diriangén playing Juventus Managua, and Walter Ferretti playing Municipal Jalapa from midnight tonight. The country’s Youth League also has its play off, and Tajikistan’s Premier League continues. Golf The action in Arizona continues, with the second round of the Outlaw Tour’s Legacy Shootout, and third round of the Cactus Tour at Las Colinas.Greyhounds As usual, Australia dominates the greyhounds action, with Flordia’s Naples Fort Myers the only track holding racing in the US.Handball Handball returns, with Belarus’ Division 1.Horse Racing Australian racing dominates the schedule as usual, but there is activity at Hong Kong’s Happy Valley. Swedish racing is happening at Bro Park, Solvalla and Bergsaker, and at Fonner Park, Tampa Bay and Will Rogers Downs in the US.Ice Hockey The ice hockey action is again only in the short-form version of the game, with Russia’s Premier League and Comet Division both playing.Table Tennis Table tennis is taking place across Russia, Brazil, Ukraine and Armenia.Tennis The tennis schedule is expanding, with Russia’s Liga Pro joined by the Belarusian Masters League and the US International Tennis Series.This list is not intended to be exhaustive, and all events are subject to change.Abelson Info was set up by Ed Abelson in 2003 to supply the bookmaking industry with the crucial sports data it required as the online betting industry began to boom. Starting with just a handful of employees and even fewer clients, the business has since grown and evolved to accommodate the ever-changing requirements of the industry.We now supply data and technical services to the majority of the top tier bookmakers and platform providers in the UK, along with many of the biggest media corporations and development firms across the world. We have a stellar reputation for delivering top quality data and are always on hand to support customers, 24 hours a day, 365 days a year. Subscribe to the iGaming newsletterlast_img read more

Esports Entertainment raises $4.4m in latest funding round

first_img9th June 2020 | By contenteditor Casino & games AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games Esports Finance Sports betting Video gaming Esports Entertainment raises $4.4m in latest funding round Subscribe to the iGaming newslettercenter_img Esports betting operator Esports Entertainment Group has announced that it secured approximately $4.4m (£3.5m/€3.9m) from the exercise of warrants, further strengthening its financial position as it prepares to execute its expansion strategy.The public offering of securities, which began on14 April, saw investors exercise a total of 1,029,393 warrants at a price of $4.25 per share, for gross proceeds of $4.4m since 22 May.Combined with a further $1.9m in funding from a public offering of securities announced on 26 May, Esports Entertainment said it received an aggregate of $6.2m from the exercise of warrants, as of 8 June. This followed an uplisting to the Nasdaq stock exchange in April, and an $8.4m public offering. “This announcement significantly bolsters our financial strength and resources necessary to execute our business plan,” Esports Entertainment chief executive Grant Johnson said. “The continued support and confidence of our valued shareholders is deeply appreciated as we aggressively pursue our growth strategy in 2020 and beyond.”Last month, Esports Entertainment Group also announced that it had formed a new US-facing subsidiary, GMBL New Jersey, with the intention of making its first application for a betting license in the state in the “near future”.Also in May, Esports Entertainment Group secured a gaming service licence from the Malta Gaming Authority (MGA). The licence is valid for 10 years and enables Esports Entertainment to offer online pool betting to players.In addition, Esports Entertainment recently signed a binding letter of intent to acquire LHE Enterprises, the holding company of online betting and gaming operator Argyll Entertainment.While terms of the deal were disclosed, Johnson said that with Argyll generating annual revenue of around $12.0m, the acquisition would have “a major positive impact” on the business. Tags: Video Gaming Esports betting operator Esports Entertainment Group has announced that it secured approximately $4.4m (£3.5m/€3.9m) from the exercise of warrants, further strengthening its financial position as it prepares to execute its expansion strategy. Email Addresslast_img read more

Golden Nugget Online Gaming sees revenue grow 92% in Q3

first_img Regions: US Michigan New Jersey Pennsylvania “We are very pleased with yet another quarter of profitable growth. Our pandemic-proof business model keeps showing its resilience in New Jersey and we look forward to expanding operations in Michigan,” the business’ owner Tilman J. Fertitta added. Gross gaming revenue for the three months to 30 September came to $28.9m, almost double the $14.9m generated in the third quarter of 2019. After gaming taxes, its net revenue came to $25.9m, up from $13.5m in the prior year.  Topics: Casino & games Finance Online casino Q3 results 2020 Tags: Golden Nugget Online Gaming Thomas Winter Lancadia Holdings Q3 results 2020 “Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis,” the operator’s president Thomas Winter said.  Winter added that based on October’s performance, the business now believes it could generate gross gaming revenue of more than $100m in the state for 2020.  Golden Nugget Online Gaming posted a 91.9% rise in net revenue for the third quarter of the year, and revealed that it expects to finalize its Nasdaq listing by the end of November. center_img Golden Nugget Online Gaming sees revenue grow 92% in Q3 While Golden Nugget did not provide a full breakdown of its quarterly performance, it noted that operating profit for the period came to $8.2m almost double Q3 2019’s $4.2m. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 29th October 2020 | By Robin Harrison Read the full story on iGB North America. Email Addresslast_img read more

Covid-19 struggles continue at SJM as Q3 revenue falls 89.6%

first_img Macau casino operator SJM Holdings has reported an 89.6% year-on-year drop in net gaming revenue for its third quarter, due to ongoing restrictions on its land-based properties caused by the novel coronavirus (Covid-19) pandemic. Gross gaming revenue from SJM’s flagship Casino Grand Lisboa property reached HK$176m, while the Casino Lisboa, Casino Oceanus at Jai Alai, Casino Eastern and Casino Taipa self-promoted properties generated HK$187m. Satellite casino gross gaming revenue amounted to HK$584m in the quarter. In terms of how this impact SJM’s year-to-date performance, net gaming revenue for the nine months through to the end of September was 79.4% lower at HK$5.11bn. Gross gaming revenue was also 80.5% down at HK$5.84bn. Topics: Finance Total loss for the operator in Q3 amounted to HK$1.03bn, down 239.7% from a HK$738m profit in the same period in 2019. 2nd November 2020 | By Robert Fletcher Adjusted EBITDA was down 158.3% to HK$1.77bn, while total loss for the period was HK$2.44bn, down from a HK$2.42bn profit last year. SJM said ongoing restrictions on entry from China’s mainland, Hong Kong and other locations, were the main reason for the decline, with the Chinese government only resuming issuing visas to Macau in late September. Gross gaming revenue was down 90.0% at HK$947m. Regions: Asia Subscribe to the iGaming newsletter Net gaming revenue for the three months to 30 September totalled HK$879m (£87.9m/€97.4m/US$113.4m), down from HK$8.24bn in the same period last year. SJM did not disclose its costs and spending for Q3, but did confirm that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) came in at a loss of HK£782m, down 182.3% from a positive of HK$950m last year. Finance VIP gross gaming revenue fell 93.1% to HK$200m, while mass market gross gaming revenue was 89.1% lower at HK$690m. Slot machine gross gaming revenue was also down 80.8% year-on-year to HK$57m. Covid-19 struggles continue at SJM as Q3 revenue falls 89.6% AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: SJM Holdings Financial VIP gross gaming revenue was 84.8% lower at HK$1.57bn, while mass market gross revenue fell 78.7% to HK$4.0bn and slot machine gross revenue 66.6% to HK$292m. Visitation also suffered from limited transport to the Special Administrative Region and Covid-19 quarantine requirements. Email Addresslast_img read more

Gamban expands outside of UK with Norsk Tipping deal

first_img Subscribe to the iGaming newsletter Self-exclusion software provider Gamban has entered into its first partnership outside of the UK after agreeing a deal to begin working with Norwegian state-owned operator Norsk Tipping. Under the agreement, players will be able to use Gamban’s free software to block themselves from accessing igaming websites and apps in the country. Players will only be permitted to lose up to NOK7,500 in December and January, when playing KongKasino, eFlax, Bingoria and Yezz, while the maximum daily loss limit for these games has been cut by 50% to NOK2,000. “Gamban is a valuable supplement to Norsk Tipping’s own exclusion systems,” Norsk Tipping’s head of responsible gaming Bjørn Helge Hoffmann said. Responsible gambling “The filter makes it possible for us to offer extended protection to customers who want to block access to all gaming offers on the internet – both regulated and unregulated.” Norsk Tipping and Norsk Rikstoto are the only two licensed and legal online gambling operators currently permitted to offer igaming in Norway. However, the Gamban blocker will stop consumers from accessing all igaming websites, including those operating in Norway without the relevant licence. Tags: Gamban Norsk Tipping Players can choose to self-exclude for 180 days, one year, three years or five years, with the blocker running across all devices. Users do not need to be a Norsk Tipping customer in order to access the blocking feature. Topics: Responsible gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th December 2020 | By Robert Fletcher Gamban’s blocking software will be offered alongside Norsk Tipping’s existing responsible gambling measures, including loss limits. Last month, Norsk Tipping reduced the maximum monthly loss limit on its high-risk games by 25%, as part of a number of temporary measures. Regions: Norway Gamban expands outside of UK with Norsk Tipping deal Email Addresslast_img read more

NeoGames sees Q1 rise in revenue and net income thanks to NeoPollard success

first_imgHowever, expenses came to more than $11m, up 42.3%. Distribution expenses, at $2.6m, rose 108.8% year on year. Development expenses came to $2.2m, an 18.8% increase compared to Q1 2020. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter NeoGames’ revenue totaled at $13.3m, a $4.3m rise from $9.1m in the first quarter of 2020. 14th May 2021 | By Marese O’Hagan Online lottery platform provider NeoGames enjoyed a revenue rise of 46.5% in Q1, while overall net income rose by 4.8% year on year, thanks in part to income from its NeoPollard joint venture. Read the full story on iGB North America. Topics: Finance Q1 results 2021 NeoGames sees Q1 rise in revenue and net income thanks to NeoPollard success Tags: NeoGames Regions: Europe Western Europe Luxembourg Finance Email Addresslast_img read more